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What benefits do I gain if I continue to hold my MCO tokens?

What benefits do I gain if I continue to hold my MCO tokens?

To use the MCO staking benefits, Customers need to lock and hold the required amount of MCO tokens through the app.
Amy Ingram avatar
Written by Amy Ingram
Updated over a week ago

How to stake MCO?

If you passed our KYC (Know Your Customer) verification and have access to the crypto wallet in your app, you can stake your MCO tokens by: 

  1. Tapping the Card icon in the bottom-right corner of the homescreen
  2. Selecting the MCO Platinum metal card of your choosing and following the steps to lock up the MCO, when prompted. 

If you don’t have enough MCO in your account, you can:

  1. Purchase MCO in our app, or 
  2. Exchange from other crypto to MCO in our app, or
  3. 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 Cards
  • Receive Crypto Wallet Benefits
  • Get a 50% discount on your fees in Crypto Invest
  • Enjoy better APR in Crypto Credit and Crypto Earn

All available benefits can be found here:

For details of different levels of benefits in relation to the amount of staked MCO, please refer to the wallet section of our website. 

Can I increase the staking amount?

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 locked up 50 MCO and would like to increase to 500, you will need to add 450 MCO). 

The new lock up will reset the timer of your lockup and another 6-month period will start.  To increase your lock up amount after your MCO card has been issued, please follow this upgrade process. 

How can I unlock my MCO? 

After the 6-month lockup period has been completed, you can 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 came with staking, for example: 

  • Purchase Rebates
  • Extra Card Cashback
  • Platinum Referral Rewards
  • 50% discount on Crypto Invest fees

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 change.

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