Mexc Card

MEXC Mastercard Prepaid: Virtual Cryptocurrency Card for European Users

Basic Information

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 conversion fee - Approximately 1.25% for crypto-to-fiat conversion, lower than the industry average of around 1.8%
• Direct exchange integration - Seamless connection to MEXC exchange accounts for easy management
• Real-time alerts - Transaction notifications sent to your smartphone for each purchase

Fees and Limits

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). 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 supports only USDT (Tether) for funding, which significantly limits its versatility compared to other crypto cards that support multiple cryptocurrencies.

Fiat Currencies

The card operates in EUR (Euro) for transactions.

Conversion Process

• Users must manually convert cryptocurrency to fiat when preloading the card
• Conversion fee is approximately 1.25% when converting crypto to EUR
• Conversions occur in real-time when topping up the card
• No auto-conversion is available at point of sale - funds must be preloaded

Geographic Availability

Supported Regions

The MEXC MasterCard is available to eligible residents of the following 31 European countries:

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

Regulatory Compliance

The card operates under EU financial regulations through licensed entities:

• Paytend Europe UAB (Lithuania, EMI licence No. 52)
• MEXC Estonia OÜ (registry 14832615, Tallinn)

Technical Details

Card Specifications

• Card format: Virtual-only card (no physical card option)
• 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.

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 exchange wallet

Usage Restrictions

• Online only: Cannot be used for in-person purchases
• No ATM access: Cannot withdraw cash from ATMs
• Merchant limitations: Available for online merchants accepting Mastercard

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

• 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 USDT for online purchases
• Online Shoppers who prefer virtual cards and don't need physical card capabilities
• Fee-Conscious Users who prioritize lower conversion fees 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
• Lower conversion fee (1.25%) compared to industry average
• Seamless integration with MEXC exchange platform
• 3D Secure protection for enhanced security
• Real-time transaction alerts
• Relatively high maximum card balance (100,000 USDT)

Cons

• Virtual card only (no physical card option)
• Only supports USDT for funding
• No cashback rewards program
• No Apple Pay or Google Pay integration
• Limited to European countries only
• Foreign transaction fee of 2% 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 relatively low conversion fees and basic security features.

However, the card's limitations are significant. Being virtual-only prevents in-store use or ATM withdrawals, 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" severely limits accessibility for the general public.

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 European countries who want a simple way to spend their USDT 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 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 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

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.