Entering the Monolith: how to top up your card
The Monolith experience encompasses two key components. There’s our wallet, your handy access point to the magic of decentralised finance on Ethereum. The other part is the Monolith Visa® Debit Card, the tool that enables you to spend your crypto in your day-to-day life. Once you’ve added tokens to your wallet, you’ll be ready to load up your card to spend in the real world. Here, we outline the process of topping up your card in a few easy steps.
1. Add ETH to your Main Account
Before you do anything else, you’ll need to make sure that you have ETH in your Main Account. This is because you need it to pay for gas for every transaction you make on the Ethereum network. You can buy ETH through the app or send some from another address. We recommend adding enough ETH to cover several transactions, as you’ll need it any time you interact with the network.
2. Check you have the right currency
You can use a number of different tokens to top up your card. If you don’t have the right tokens in your wallet, top up with DAI or use the ‘Swap’ feature to convert some of your tokens. The full list of tokens that can be used to top up the card is as follows:
aDAI aDAI2 DAI DGD DGX ETH GNO GUSD KNC MATIC MKR NPXS OKB QNT RLC SNX sUSD TKN USDC USDT
3. Top up card
Now you can top up your card. Start by hitting the blue ‘+’ icon on the home screen followed by ‘Top up Card’ or select ‘Top up’ under the ‘Card’ tab. Here, you can choose the crypto token you want to use to load up the card. You can only select one currency per transaction. Tap the drop down arrow under ‘You exchange’ to see every option and your balance. Then select the currency you want to use.
4. Choose your amount
The screen will show the balance of your crypto token, the exchange rate into GBP or EUR, and your card balance. When you select the amount to convert, the amount you’ll receive for your card will also be shown on the screen. Enter the amount you want to convert or receive, or alternatively select to top up £200, £500 or £1,000 from the options shown. Bear in mind that the maximum limit is £7,500 or €8,000. Then select review.
5. Review and confirm
You’ll be shown a breakdown of the transaction on the ‘Review’ screen, including the fees. The fee is split into two parts. The top-up fee is 1%, or free with stablecoins (aDAI, DAI, sUSD, USDC, USDT) and TKN. There’s also a 1% Community Contribution with all top-ups excluding TKN. This gets allocated to a Community Chest belonging to TKN holders.
Hit ‘Approve’ to confirm the transaction. Once confirmed, your ‘Card Balance’ will automatically update on the ‘Card’ tab.
That’s it — you can now spend your funds anywhere that accepts Visa. Please note that if you use the card in a country that doesn’t accept GBP or EUR, you may incur extra charges (head to our Pricing page for more details on fees). With your card topped up, you’re free to buy your morning coffee, pay your restaurant bill, and wherever else, all while enjoying the benefits of a bankless life. That’s why we’re all here, right? This is the goal we set out for when we first embarked on this mission and entered the Monolith. And it’s already a reality.
Sign up to Monolith here.
