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Review: cryptocurrency app and exchange

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Buy, sell, trade and access a wide range of services and features on this complete crypto platform.

  • Great as a complete all-in-one cryptocurrency platform.
  • Not so great for self-custody of funds.

See our full list of pros and cons below.


Fiat currencies




Product Name App
Fiat Currencies USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more
Cryptocurrencies BTC, ETH, USDT, XRP, ATOM, XTZ, XLM, LINK, CRO, MCO & 50+ more
Deposit Methods Bank transfer (ACH)
Bank transfer (SEPA)
Credit or Debit Card
Trading Fee Maker: 0.04-0.20%
Taker: 0.10-0.20%
Deposit Fees None
Withdrawal Fees Cryptocurrency: Fees vary


  • Complete crypto platform
  • High speed exchange with competitive fees
  • Frequent promotions
  • Lets you earn returns on deposits
  • Crypto-powered rewards card


  • Getting the most out of it requires MCO or CRO staking
  • It has a convoluted two token system
  • Lack of transparency in where its funding comes from
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

What is is intended to be a complete cryptocurrency platform, made up of many connected products and services. The three main parts are:

  • The app. The heart of is a mobile app, available for iOS and Android. Downloading the app allows you to access the full ecosystem. When you hold cryptocurrency in your account, you can access the full range of services, but it also means that you’re entrusting your funds to
  • The non-custodial wallet. This is a separate wallet, which can be downloaded as a completely separate app. This wallet lets you take personal control of your private keys, but you won’t be able to access all the services through it. However, you can link this wallet to your main account to easily transfer funds between them.
  • The exchange. This is a crypto-to-crypto exchange. You can sign up for the exchange separately, or log into it with your app account. You will need to have a app account to access all the benefits of the exchange, such as special promotions.

You only need to download the main app to get started and to get access to the exchange and additional services which may include:

  • The MCO Visa card. Use the app to seamlessly convert crypto to USD, and load it onto your Visa card for easy spending. Earn rewards by spending with your card.
  • Earn. Earn up to 8% p.a. on cryptocurrency holdings, such as BTC, or up to 12% p.a. on stablecoins such as USDT.
  • Invest. Set up your account to practice automated trading strategies and (hopefully) grow your portfolio. A minimum of 5,000 MCO is required to access this service and the fee is 9% of your profits.

Across all of these services, you can get substantial benefits (such as higher return and more rewards from your card) by staking the MCO cryptocurrency. The exchange, on the other hand, uses CRO staking for its rewards instead.

Where are these features available?

You may not be able to access all features. As of 14 July 2020:

  • lending is not available to residents of Hong Kong, Singapore, Switzerland, Malta or the United States.
  • MCO Visa Cards are only being shipped in the United States, European Union and countries in the Asia Pacific including Singapore.

What is MCO staking and how does it work?

To use the features of to their fullest extent, you can “stake” some of the MCO cryptocurrency. While a sufficient number of MCO tokens are staked, you get lots of additional benefits in the app.

Staking means locking it up for a six-month period, during which you will be unable to move, sell or use the tokens. After this period is up, you’re able to withdraw the tokens as usual, but you might lose your extra benefits if those withdrawals put you below the required threshold for those benefits.

On the plus side, your tokens earn 6-8% interest while staked.

The most common thresholds are all multiples of 50. So you may start getting benefits with 50 MCO staked, more benefits at 500 MCO staked and even more at 5,000, 50,000 and so on. These may be subject to change as the value of MCO tokens changes.

When using the exchange (rather than the app), you can get benefits from staking CRO instead of MCO.

Staking on

What are the benefits of staking MCO?

Staking can offer benefits across the spectrum of services.

  • In the app: Receive airdrops from new token listings based on the amount of MCO staked and earn interest on staked tokens. Get 6% p.a. starting at 500 MCO staked and 8% p.a. at 5,000 MCO staked.
  • In Earn: Earn additional interest.
  • For the MCO Visa card: Access higher card tiers by having MCO staked as you order your card. Higher card tiers have better benefits and features. These benefits are decreased if your staked amount drops below the threshold for that card tier, but even so, higher card tiers will still give better benefits than lower card tiers.
  • VIP access: You can get a bundle of exclusive benefits starting at 5,000 MCO staked, including priority customer service, OTC trading and access to the Invest automated trading system.

How to stake MCO: A step-by-step guide

  1. Buy MCO. You can do this through or at one of the many other exchanges that sells MCO.
  2. Deposit the MCO into your app account if it’s not already there.
  3. Tap the Card icon in the bottom right corner.
  4. Select the MCO Visa card of your choice.
  5. Tap the “Stake MCO” button and follow the on-screen instructions.

You can start exploring the ecosystem by going to the site and downloading the app, or read on to learn more about, how it works and some of the risks to be aware of when using it.

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What fiat and cryptocurrencies are supported?

  • Supported fiat currencies: USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more
  • Supported cryptocurrencies: Approximately 66 cryptocurrencies

Which payment methods are accepted?

  • Bank transfer (ACH)
  • Bank transfer (SEPA)
  • Xfers
  • Credit or Debit Card
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What’s it like to use

Fees and services at

The information below is accurate as of 17 June 2020. All prices in US dollars. app

You can buy crypto directly through the app with a debit or credit card, but it will typically be more cost-effective to make a fiat deposit and then use that to buy crypto within the app.

Transaction typeFee
Buying with a debit or credit card3.5% + $0.10
Exchanging fiat for crypto within your accountFree
Deposits and withdrawals (SEPA and ACH)Typically free
Deposits and withdrawals (SWIFT)Varying bank transfer fees may apply
TransferWise/PayPalThe usual TransferWise and PayPal fees
Cryptocurrency transfers to other app usersFree
Cryptocurrency transfers to external wallet addressesNetwork fees apply exchange

30-day trading volume (USD)Maker/taker fee
$0 to $50,0000.20%/0.20%
$50,001 to $250,0000.16%/0.18%
$250,001 to $1,000,0000.12%/0.16%
$1,000,001 to $2,500,0000.10%/0.14%
$2,500,001 to $10,000,0000.08%/0.12%

Discounts for staking CRO tokens
You can receive trading fee discounts by staking CRO tokens.

Staked amountTrading fee discount
10,000+ CRO20%
50,000+ CRO40%
1 million+80%
5 million+90%
50 million+100%

What is’s The Syndicate promotion?

Periodically, the exchange holds a special promotion called “The Syndicate” where it exchanges other cryptocurrencies for CRO at half their current market price. This is typically done when a new cryptocurrency is listed on the exchange.

To participate, exchange users “pledge” (lock up) a certain amount of CRO for a chance of receiving twice as much of another cryptocurrency as that CRO is worth, up to varying maximum amounts. Any unused CRO pledge is returned at the end. Earn and Invest

You can allot cryptocurrencies to the Earn section of the app to earn interest from them. To do this, select Earn from the main menu and decide which cryptocurrency you want to deposit.

The returns and limits vary depending on the cryptocurrency you’re depositing, whether you choose a fixed term or a flexible deposit and whether you are staking MCO.

The table below shows a partial selection of the cryptocurrencies you can deposit and the interest earned as of 17 June 2020, without and with staking MCO respectively.

Coins depositedInterest p.a. (flexible)Interest p.a. (1-month term)Interest p.a. (3-month term)
DAI, TUSD, TAUD, TCAD, TGBP, USDC, USDT6% to 8%8% to 10%10 to 12%
BTC1.5% to 2%3% to 4.5%4.5% to 6%
ETH, LTC2% to 3%3% to 4%4% to 5%
XRP1.5% to 2.5%2.5% to 3.5%3.5% to 4.5%
MCO1% to 4%2% to 6%4% to 8%
CRO12% to 14%14% to 16%16% to 18%
Others (including LINK, BNB, ATOM, XTZ, VET, ADA)1% to 2%2% to 4%4% to 6%

While Earn pays fixed rates, Invest is another way of potentially growing your portfolio. 5,000 MCO staked is required to access it. With this, you can put funds into automated investment strategies, choosing between conversative, balanced and growth portfolios.

Eligibility and what else you should know about Earn

  • Interest is paid daily, in the same type of cryptocurrency as you’ve deposited.
  • The minimum deposits vary by cryptocurrency, but are roughly around US$200 equivalent in most cases.
  • The maximum deposits vary by MCO staked, starting at US$500,000 and capping out at US$2 million.
  • Depositing MCO into your Earn account does not count as MCO staking.
  • You can have multiple deposits going at the same time as long as the total does not exceed the maximum limits.
  • Earn is not available to citizens and residents of Hong Kong, Switzerland or Malta.
  • PAX/TUSD/TAUD/TCAD/TGBP/USDC are not supported for Singapore users.
  • USDT is not supported for US users.
  • EOS, XLM and XTZ are not supported for the following US states: Alabama, Connecticut, Georgia, Hawaii, Idaho, Louisiana, New Mexico, North Carolina, Oregon, Vermont and Washington. Visa card

The MCO Visa card is a metal prepaid card that can be periodically topped up, making it easier and more rewarding to spend cryptocurrency. When topping up, your crypto is converted to USD (at current exchange rates, with no fees) and loaded onto the card.

The card can be used anywhere a Visa prepaid card can be used. MCO rewards are earned on almost every type of transaction and even though the card is loaded with USD, you can get interbank exchange rates (meaning no extra cost) on all uses, up to the interbank exchange rate monthly limit for each card.

The card is free, but the type of card you receive and the perks you get depend on how much MCO you stake.

You can unstake your MCO after the six-month period, but your card rewards will be decreased. The table below shows some, but not all, of the benefits of each card tier while staking the required amount of MCO.

MCO stake required50,0005,00050050None
Card tierBlack MCO Black CardSilver MCO Silver CardGreen MCO Green CardRed MCO Red CardBlue MCO Blue Card
MCO rewards on spending5%4%3%2%1%
LoungeKey airport lounge access
No-fee monthly ATM withdrawal limit (2% thereafter, USD)$1,000$1,000$800$400$200
Interbank exchange rate monthly limit (0.5% thereafter, USD)Unlimited$20,000$10,000$4,000$2,000

To get your MCO Visa card:

  1. Sign up for the app and complete verification.
  2. Deposit your CRO into your app wallet.
  3. Tap the card icon in the bottom right.
  4. Choose your card.

How fast will my funds be available?

Fiat deposits/withdrawals

Clock icon for transfer speed

Within minutes

Fiat deposits and withdrawals may take up to a week for certain transfer types, such as an international bank wire, but for all supported fiat currencies, there are considerably faster and cheaper methods available.

Cryptocurrency transfers

Clock icon for transfer speed

Within minutes

Cryptocurrency transfers to other app users are instant, while transfers to and from outside wallet addresses will typically take a few minutes, depending on the cryptocurrency.

Is safe to use?

  • Regulation. takes steps to operate in compliance with regulations around the world, such as the anti-money laundering and KYC obligations common everywhere, as well as more specific concerns that may apply to certain products or in certain areas, like risk disclosures, disclaimers or restrictions on certain products. Fiat currency in your account is held by custodian bank accounts and US residents benefit from FDIC insurance for those funds. The cryptocurrency side of things is still largely unregulated though. Like other exchanges, you’re taking a leap of faith when depositing cryptocurrency on, and you may have no recourse if something happens to those funds.
  • Verification process. is strict about verification for all users, and it is required as part of the signup process. Fortunately, it’s usually fast and easy as long as your phone has a camera and you have identification such as a driver’s license or passport.
  • Security features. According to, all user cryptocurrency is held offline in cold storage where possible, through’s partnership with Ledger. These funds are covered with a US$100 million policy. Elsewhere, cryptocurrency deposits are protected with other insurance policies and multi-signature wallets and fiat currencies are held by bank custodians. The app has been audited by external security firms, two-factor authentication is required and external addresses need to be whitelisted from within the app before crypto can be sent there from your account.

Despite its prominence now, circumstance gave a mixed reputation in its early years, and from around 2017 to early 2019, many people accused it of being a scam. Since then it’s proven many of its detractors wrong.

Still, it’s good common sense to exercise caution whenever a platform offers such high returns without it necessarily being clear where all the money is coming from or how sustainable it is.

How do I create a account?

    1. Go to the website.
    2. Go to the app store links or scan the QR code on the home page.
    3. Download the app to your phone.

Once you’ve downloaded the app on your phone, start the app and follow the prompts to verify your identity.

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What else do I need to know about began life in 2017 as a project called Monaco, under CEO Kris Marszalek who previously headed up online deals site Ensogo, which triggered fraud investigations and left some users out of pocket when it went bankrupt. Marszalek says he was only brought into Ensogo at the last minute in an ultimately unsuccessful effort to turn it around.

The Monaco ICO quickly raised US$25 million by selling the MCO coin under the promise of delivering Visa-branded cryptocurrency cards and creating a realistic crypto-based competitor to banks.

However, it missed several deadlines and disgruntled ICO speculators started accusing it of being a scam. Scam allegations grew louder when Monaco purchased the domain name in 2018, reportedly at the cost of US$12 million, when only a handful of cards had been delivered and only the bare bones of the app had been created. The creation of a new token at that time, CRO, caused further rifts.

Since then, however, it’s grown rapidly, solidly delivered on its original promises, grown to a user base of more than 2 million people and become one of the most comprehensive crypto platforms in the world.

Although appears to have proven its accusers wrong, it’s important to remember that cryptocurrencies are still volatile and largely unregulated.

In a nutshell


  • Complete crypto platform
  • High speed exchange with competitive fees
  • Frequent promotions
  • Lets you earn returns on deposits
  • Crypto-powered rewards card


  • Getting the most out of it requires MCO or CRO staking
  • It has a convoluted two token system
  • Lack of transparency in where its funding comes from

Compare against other exchanges

Name Product Deposit methods Fiat Currencies Cryptocurrencies
Bank transfer (ACH),Bank transfer (SEPA),SWIFT,Xfers,Credit or Debit Card


Buy 55+ cryptocurrencies at true cost, earn up to 8% p.a. on holdings, pay with your crypto for cashback at stores, get loans and more with this complete crypto-finance platform.
Credit card,Cryptocurrency,Debit card,Osko,PayID


Trade an extensive range of reputable coins on this world-renowned exchange, popular for its high liquidity and multi-language support.

US residents: As of September 2019, US-based users can only trade USD on the American dollar onramp of Binance, Binance.US.
UK residents: In addition to normal crypto trading services, Binance offers margin lending. As this is a regulated activity which they are not authorised to offer in the UK, we advise you not to use this service. If you're interested in margin trading, see authorised providers.
Bank transfer (ACH),Credit card,Debit card,Bank transfer (SEPA),Wire transfer


Buy and sell major cryptocurrencies on one of the world's most renowned cryptocurrency exchanges.

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Frequently asked questions

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Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.

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