How to stake MCO?
Once you've passed our KYC (Know Your Customer) verification, you can stake your MCO tokens by:
- Tapping the Card icon in the bottom-right corner
- Selecting the MCO Visa card of your choosing and following the steps to stake MCO, when prompted.
If you don’t have enough MCO in your account, you can:
- Purchase MCO in our app, or
- Exchange from other crypto to MCO in our app, or
- Deposit MCO from an external wallet or exchange
What are the benefits of staking the MCO?
Staked MCOs are locked in the app for the next six months, during which you can:
- Reserve one of our premium metal MCO Visa cards
- Receive Crypto Wallet Benefits
- Enjoy better APR in Crypto Credit and Crypto Earn
All available benefits of MCO staking can be found here:
MCO Stake Rewards: Receive MCO at 6% p.a. for 500 and 8% p.a. for 5,000 and 50,000 tiers while these MCO are staked.
For details of different levels of benefits in relation to the amount of staked MCO, please refer to the Cards section of our website.
Can I increase the staking amount (upgrade)?
Yes. During the initial 6-month staking period you can increase the amount of staked MCO, by going to your MCO wallet in the app and selecting the Upgrade button.
You will be prompted to add the difference between your existing stake and the one you are going for (so, for example, if you currently have staked 50 MCO and would like to increase to 500, you will need to add 450 MCO).
The new stake will reset the timer and another 6-month period will start. To increase your staking amount after your MCO card has been issued, please follow this upgrade process (U.S.) (Singapore) (E.U & U.K).
How can I unlock my MCO?
After the 6-month staking period is completed, you'll be able to unlock your MCO. Simply go to the MCO wallet in your app and tap the “Unlock” button.
Note, that by unlocking MCO you will be losing a number of benefits that come with staking, for example:
However, your MCO card benefits (e.g. Card Cashback (of up to 2%), LoungeKey™ Access, fee-free ATM withdrawal limits and Interbank Exchange Rates) will not be affected by non-staking MCO.