Mexc Card

MEXC Mastercard Prepaid Review: Fees, Rewards & Availability

Basic Information

The MEXC Mastercard is a virtual prepaid card that enables European cryptocurrency users to spend their digital assets for online purchases through direct integration with the MEXC exchange platform.

Rewards and Benefits

The MEXC Mastercard offers limited rewards or benefits compared to many competing crypto cards:

• No cashback program - The card does not provide any cashback rewards on purchases
• No staking benefits - There are no staking features or requirements mentioned for the card
• No referral bonuses - No special referral promotions are advertised specifically for the card

The main benefits of the card are its relatively low fees and direct integration with the MEXC exchange platform:

• Low top-up fee - 1% fee when loading the card
• Direct exchange integration - Seamless connection to MEXC exchange accounts for easy management
• Real-time alerts - Transaction notifications sent to your smartphone for each purchase
• Point-of-transaction conversion - Funds are converted from your CO-BRANDER Wallet during transaction processing

Fees and Limits

The MEXC Mastercard has a competitive fee structure designed for European users who primarily make online purchases within the European Economic Area.

Note: MEXC's official card overview does not specify a separate foreign exchange fee; instead, out-of-EEA transactions incur a 2% transaction fee with a minimum of €0.60 per transaction.

Card Tiers and Options

The MEXC Card is currently offered in a single tier with no premium options or upgraded card levels available.

Application Restriction as of July 2025: MEXC MasterCard application is restricted to "selected inner test users" only (as per official learn article dated July 16, 2025). Widespread general access is not confirmed.

Top-Up Methods

Users must pre-load the MEXC Mastercard by transferring USDT from their MEXC exchange account to the card's dedicated balance using the MEXC app or website. Only USDT (Tether) is supported for top-up—other cryptocurrencies or fiat currencies are not accepted. The process involves a mandatory move of funds from the user's MEXC exchange wallet to the card provider's custody, and funds are automatically converted to EUR at a 1.25% crypto-to-fiat conversion fee, with an added 1% top-up loading fee. There is no auto-conversion at point of sale, and users must preload; on-demand spending is not supported. Top-up limits include a single transaction/daily spending maximum of 3,000 EUR and a monthly spending limit of 30,000 USDT, with a maximum card balance of 100,000 USDT; funds typically become available immediately after loading, but only for online purchases.

Self-Custody Custodial

The MEXC Mastercard operates on a custodial model where all crypto funds used for card spending must first be deposited into and held within your MEXC exchange account. Users do not control the private keys for assets once they are on the platform; instead, the funds are managed by MEXC until you choose to convert them to fiat and preload the card. This arrangement offers convenient management of card balances and seamless integration with the MEXC exchange but requires trusting the platform for asset security and access. If the provider were to cease operations, users would be unable to access card funds independently, as those assets are not self-custodied. The model streamlines spending but sacrifices full user control in exchange for ease-of-use and integrated security standards. It's well-suited for users who value convenience and ongoing MEXC account integration over self-sovereign control of their crypto.

Supported Currencies and Conversion

Supported Cryptocurrencies

The MEXC Mastercard's official documentation does not explicitly specify which cryptocurrencies are supported for funding. The card's Terms and Conditions (dated October 20, 2025) refer to "cryptocurrencies or other digital assets supported by CO-BRANDER Wallet," while spending limits are denominated in USDT. Users should verify supported assets directly with MEXC before application.

Fiat Currencies

The card operates in EUR (Euro) for transactions, with conversion to USD during transaction processing as specified in the Terms and Conditions.

Conversion Process

• According to MEXC's October 20, 2025 Terms and Conditions, transaction values are debited from the CO-BRANDER Wallet and converted during transaction processing
• This indicates a point-of-transaction conversion model where crypto assets are converted at the time of purchase
• Top-up fee is 1% when loading the card
• The card account is not a bank account, debit card, or credit card account, and no interest is paid on balances

Geographic Availability

The MEXC Mastercard is available to eligible residents in 29 European countries, providing a focused solution for European cryptocurrency users seeking to spend digital assets online.

Supported Regions

Europe

Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lithuania, Malta, Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, Luxembourg, Liechtenstein.

Note: This list is per MEXC's official "Overview of the MEXC MasterCard" published July 16, 2025. Users from other countries are not eligible.

Restricted Regions

The card is unavailable outside the 29 supported European countries listed above. MEXC services generally are restricted in:

North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Singapore, Venezuela, the United States, Canada, and other jurisdictions where MEXC doesn't operate.

Compliance and Security

KYC Requirements

• Advanced verification required - Including passport and personal photo submission
• Verification timing - KYC must be completed at least 14 days prior to card application
• Usage prerequisites - At least one prior bank-card or SEPA purchase on MEXC is required

Security Features

• 3D Secure (3DS) technology - Additional security layer for online transactions
• Real-time transaction alerts - Instant notifications for all card activities
• Secure management - Card controls through protected MEXC account
• Two-Factor Authentication - 2FA supported via Google Authenticator or SMS codes for account access

Account Type and Nature

According to MEXC's Prepaid Card Terms and Conditions (October 20, 2025):

• The card account services are not a bank account, debit card, or credit card account
• No interest is paid on card balances
• Funds are stored in a CO-BRANDER Wallet that holds cryptocurrencies or digital assets

Regulatory Structure and Licensing

The MEXC Mastercard operates under a co-branded partnership structure with clear regulatory oversight:

Card Issuer and Platform Provider

Paytend Europe UAB (Lithuania) serves as the card issuer and platform provider:

• Regulatory Authority: Bank of Lithuania
• Authorization Code: LB000480
• Institution Type: Electronic Money Institution (EMI)
• Jurisdiction: Lithuania, European Union

Co-Branding Partner

MEXC Estonia OÜ serves as the co-branding partner:

• Registry Number: 14832615
• Location: Tallinn, Estonia
• Role: Operates the CO-BRANDER Wallet and provides integration with MEXC exchange services

Regulatory Framework

The card operates under EU financial regulations governing electronic money institutions and prepaid card services. As an EMI-issued prepaid card, it provides payment services but does not offer traditional banking services such as deposit accounts with interest or credit facilities.

Technical Details

Card Specifications

• Card format: Virtual-only card (no physical card currently deployed; Terms contemplate physical cards and contactless-enabled devices)
• Mobile wallet integration: No Apple Pay or Google Pay support
• BIN Number: 55547488
• Card validity: 3 years

As of July 2025, there is still no official announcement of a physical card or native support for Apple Pay or Google Pay, though the October 2025 Terms and Conditions define "Card" broadly to include physical cards, virtual cards, and contactless-enabled devices (phone/hardware/software device).

Platform Integration

• Exchange connection: Fully integrated with MEXC exchange accounts
• Management interface: Card management through MEXC app or website
• Top-up method: Direct crypto conversion from MEXC CO-BRANDER Wallet
• Settlement model: Point-of-transaction conversion from wallet during processing

Usage Capabilities

The current deployment is virtual-only for online purchases. However, MEXC's October 20, 2025 Terms and Conditions define transactions to include purchases and cash withdrawals, and define the 'Card' broadly to include virtual cards, physical cards, and contactless-enabled devices. This suggests that in-store/contactless and ATM use are contemplated in the card's design, even though the current rollout remains virtual-only for online transactions.

User Experience

Application Process

The application process consists of three main steps:

1. Apply online through the MEXC website (requiring advanced KYC verification)
2. Activate the card online after approval
3. Top up the card through the MEXC account to begin using it

Management Interface

• Card details and transactions are viewable in the MEXC Wallet interface
• Users can manage their card through the MEXC exchange platform's mobile apps for iOS and Android

Support Channels

• Help Center documentation
• In-app chat/ticket system for issues

User Feedback

Limited direct user feedback is available from verifiable sources. Some users report:

• Challenges with card availability (legacy of invite-only phase)
• Occasional transaction failures at checkout
• Support resolution times could be improved

Best Suited For

The MEXC Mastercard is best suited for specific user profiles who can maximize its benefits while accepting its current limitations:

• MEXC Exchange Users who already actively trade on the platform and want easy access to their funds
• European Crypto Holders who need a simple way to spend cryptocurrency for online purchases
• Online Shoppers who prefer virtual cards and don't need physical card capabilities
• Fee-Conscious Users who prioritize straightforward fee structures over additional features like cashback
• Occasional Spenders who don't need high daily transaction limits or advanced reward programs

Pros and Cons

Pros

• No issuance or inactivity fees
• Straightforward 1% top-up fee
• Seamless integration with MEXC exchange platform
• 3D Secure protection for enhanced security
• Real-time transaction alerts
• Relatively high maximum card balance (100,000 USDT)
• Point-of-transaction conversion from crypto wallet

Cons

• Virtual card only (no physical card currently deployed)
• Supported cryptocurrencies not explicitly specified in official documentation
• No cashback rewards program
• No Apple Pay or Google Pay integration
• Limited to 29 European countries only
• 2% transaction fee for purchases outside EEA (minimum €0.60 per transaction)
• €1.00 monthly fee (though waived if insufficient balance)
• Currently restricted to selected inner test users only

Conclusion

The MEXC Mastercard offers a straightforward solution for European cryptocurrency users seeking to spend their digital assets online. Its primary value proposition is simplicity – providing direct connection to the MEXC exchange platform with a transparent fee structure and point-of-transaction conversion from a crypto wallet.

However, the card's limitations are significant. Being virtual-only prevents in-store use or ATM withdrawals in the current deployment, while the lack of mobile wallet integration further restricts its versatility. The absence of any cashback or rewards program puts it at a disadvantage compared to competing crypto cards that offer such incentives. Additionally, the €1.00 monthly fee, while modest, adds to the overall cost of ownership. Most notably, the current restriction to "selected inner test users" (as of July 2025) severely limits accessibility for the general public.

The October 2025 Terms and Conditions suggest broader capabilities may be planned (including physical cards, contactless payments, and ATM withdrawals), but these features have not yet been deployed. The lack of explicit documentation about supported cryptocurrencies also creates uncertainty for potential users.

When compared to competitors in the crypto card market, the MEXC Mastercard positions itself as a basic option focused on core functionality rather than premium features. It's most suitable for existing MEXC exchange users in the 29 supported European countries who want a simple way to spend their cryptocurrency holdings online without transferring to a bank account first.

For users seeking more comprehensive features like physical cards, mobile wallet integration, cashback rewards, or support for explicitly documented multiple cryptocurrencies, the MEXC Mastercard's limitations make it less attractive than some competing options in the increasingly competitive crypto card market.

Additional Information

Application Process

The application process consists of:

1. Select [MEXC MasterCard] from the [Buy Crypto] menu or the product page.
2. Complete "advanced KYC" (must have been finished at least 14 days prior), including passport and photo verification.
3. You must have previously purchased tokens via bank card or bank transfer (as per MEXC eligibility rules).
4. Eligibility is currently restricted to selected inner test users only (per July 16, 2025 documentation; likely a continuation of "invite-only" policy).
5. If eligible, submit required personal and identity information during application.
6. The verification process may take up to 2 business days.
7. Approval result and card credentials (number, CVV, expiry) are sent by email.
8. Card activation and first deposit/top-up must occur through your MEXC Fiat Wallet.

For full rules, see MEXC Learn: Overview of the MEXC MasterCard

For complete terms and conditions, see MEXC PREPAID CARD TERMS AND CONDITIONS (dated October 20, 2025)

Historical Context

The MEXC Mastercard was officially launched by MEXC Global on December 27, 2022, as part of MEXC's stated commitment to "tangibly promoting global cryptocurrency adoption, bringing cryptocurrency into everyday shopping" as mentioned by Andrew, VP of MEXC Global.

Exchange-Related Considerations

While not specific to the card product, users should be aware that the card's functionality depends on good standing with the MEXC exchange. Any account issues on the exchange side could potentially impact card availability or functionality.