These VISA cards are a game changer for the entire crypto industry. I personally have purchased and locked 500 MCO tokens for the jade green card.
Let's consider the value proposition of that card as an example.
First, you can apply for the jade green card by purchasing and locking 500 tokens for a 6-month period. That is an initial investment of about $2,000 at current price level. The tokens must remain locked on an ongoing basis to receive the maximum perks of the card. This is a very good thing because it motivates users to hold their asset over the long-term to maximize profits. You are free to unlock the tokens after the 6-month period (no strings attached) but you will lose some of the perks if you choose to do so.
Second, you will get 3% cash back in MCO tokens for every purchase made with the jade green card. This is a strong value proposition for a debit card. You don't get that with Chase Bank for example.
Third, a user will get reimbursed by crypto.com for monthly subscriptions to Netflix and Spotify. That reimbursement will be in the form of MCO tokens.
Fourth, a jade green card holder will have free airport lounge access when they travel.
Fifth, a user will be able to spend their money across the globe with perfect interbank exchange rates by converting their crypto into fiat on an as needed basis. This is solving a huge problem in the crypto space. Namely, liquidity and having instant access to spend your money anywhere in the world where VISA is accepted. Not to mention, a user will be able to withdraw $800/month for free at ATM's. They can withdraw more but incur a 2% fee which is reasonable.
Sixth, there are no annual, monthly, or shipping fees. Further, there is no fee to send MCO peer to peer and it's instantaneous. This is a big deal.
Seventh, the crypto.com app is amazing, user-friendly, and super convenient for buying, selling, storing, and spending crypto.
This list could go on since there are other features available in certain regions and others in the works. But, I think you get the point.
Now, let me make the connection for an eligible US resident. In the near future, you will be able to abandon your corrupt bank by switching your assets to the crypto.com app. You can direct deposit your from your employer into the app. You'll be able to spend what you need in any country (with perfect interbank exchange rates) wherever VISA is accepted. Meanwhile, you can hold the rest of your money in crypto as a long-term investment during the next bull run. And, you will be able to send money to family and friends for free across the globe instantaneously by using the MCO token. Further, the cashback that you receive from every purchase will contribute to the growth of your portfolio.
Don't be deceived, the only competition at this point in the game for crypto.com are banks. Other cards exist in the crypto space or are coming out soon but they are inferior from multiple vantage points.
The Coinbase card is not impressive. Remember Shift card. Using the card was a nightmare. And, we all know the exorbitant fees that Coinbase charges. If their card is anything like Shift then it isn't a viable solution to anything. Shift would restrict how much money you could withdraw from an ATM in a given day (something like $200) and restrict how much you could spend ($1,000/day). And, they would automatically convert your ETH into BTC without your permission or consent when purchasing fuel. This would lead to Coinbase fees and a major hassle. Shift would anticipate tips for transactions and deduct from your account even when you never left a tip. It was absolute garbage.
Finally, I predict a massive bull run for MCO . The max supply is 31.6 million tokens and half are in circulation at the time of writing. I wouldn't be surprised to see MCO above $4,000 in the future. I can't say when that will happen but I am confident that it will.