Not your keys, not your Bitcoin. That's a common phrase in crypto, and we have to completely agree with it.
Before using crypto.com (CDC an exchange) I had the issue of over-trading and FOMO'ing into a different project every week. But ever since I started locking up my tokens, I realize that because I'm no day trader (Especially not in Crypto) that actually just holding is the best strategy. Here comes the CDC .
Crypto.com was founded in 2016 to accelerate the world’s transition to cryptocurrency. Key products include: the Crypto.com App, the best place to buy, sell, and pay with crypto, the MCO (Monaco) Visa Card, a metal card with no annual fees, and the Crypto.com Chain, a high-performing native blockchain powering Crypto.com Pay, which enables users to pay and be paid in any crypto, anywhere, for free. Crypto.com is headquartered in Hong Kong with a 150+ strong team.
They’ve partnered with Ledger for their cold storage of funds. And They just secured 100M in insurance for assets on their platform too. Rolling out cards and seem to be making progress every day. Of course there is always the chance it could go to shit, but I'm quietly confident in this project :)
MCO (Monaco) Token Availability
As of December 2019, the MCO tokens have had the market cap of more than USD 47 million. The peak cap was achieved in January 2018 when it reached the value of more than USD 243 million. The current circulating supply goes above 15 million units, out of planned 31 million MCO. MCO tokens are available for trading on several cryptocurrency exchanges, including Binance, Bittrex, with trading pairs including BTC, ETH, and USDT and CRO.
Limited KYC Requirements to Access App and Earn — You will be required to submit your Legal Name, Phone Number Confirmation, Copy of ID (Passport, Driver’s License, or Identity Card) and a Selfie Submission to use the Wallet App and Earn feature.
No Staking, MCO Card Required for Earn — Once you have access to the app you can use the Earn feature without staking or ordering an MCO card. You’re interest rates will be lower, so if you want to maximize your returns, you will need to stake at least 500 MCO or more.
High Interest Rates — Interest rates offered range from 1%-18%. CRO is at a staggering 18% with 500 MCO staked. Their rates for stablecoins are also impressive at 12% with 500 MCO staked or 10% with no stake in a 3 month contract. Regardless, both higher than any interest offered by competitors like Celsius Network, BlockFi, or Nexo. Take a look at their current offerings below:
Interest are paid like clockwork, customer service is good, app is great.
Debit Card Cashback — Earn up to 5% cashback for every purchase made on your debit card, paid in MCO tokens and provided nearly instantly with a notification on your phone.
Crypto Credit — Allows users to put up their crypto (BTC, CRO, MCO, XRP, ETH, LTC) for an instant loan so you don’t have to sell off your coins creating a taxable event. There are no fixed repayment schedule or late fees or deadlines and those with 500 MCO pay 8% and without 12% interest. Available to all Crypto.com Wallet & Card App approved users EXCEPT citizens & residents of Hong Kong SAR, Singapore, Switzerland. Malta, or USA.
The card has heaps of perks available, cash back on every purchase is awesome.
Cards are shipping in the USA which is a huge achievement given the regulatory environment over there, if they can do it there, then we can expect the rest of the world will get theirs in due course.
The company is not cutting corners, they are sticking to their plan and delivering. I believe they will achieve their goal of crypto in every wallet (for those that want it of course).
Crypto.com app which acts as a wallet and also a fiat to crypto on ramp. You can use it like an exchange to purchase crypto directly, then use that same app to spend crypto with your mco card, with an instant crypto to fiat conversion and minor fee.
MCO Visa card line more flexible in meeting the demands of a wide range of customers, Crypto.com introduced several tiers of available cards:
Other interesting features of crypto.com includes
Solid App UX — Celsius Network used to have the top slot, but I have to admit, Crypto.com has really out done themselves in this department. Taking a very seamless and intuitive design approach, the app is a joy to use. There are some slight lag issues (loading balance) on app launch but it’s a great experience overall that is nearly unrivaled.
In-App Live Support — I’m very impressed with this feature. As a user of their app (at any level) you have the ability to open a new chat with a live agent. They have answered numerous questions and have been extremely helpful and patient. I hope other platforms take note, as this is best in class support I’ve ever experienced. No more waiting for an email response days later, you can talk to a live agent in under 5–10 minutes.
Fiat Balances are FDIC Insured (USA)— Crypto.com keeps fiat currency in custodian bank accounts that are secured and regulated. If you are a US-based user, your USD balance is covered by FDIC insurance, up to $250,000 USD. According to them, you retain ownership of the currencies in bank accounts, (i.e. your fiat funds can’t be claimed by Crypto.com or its creditors).
Data Security — Kudelski Blockchain Security Center conducted a thorough security test (external penetration testing and threat modeling through to risk control reviews). Crypto.com is the first cryptocurrency company in the world to have ISO27001:2013, PCI:DSS 3.2.1, Level 1 compliance and CCSS.
Cold Wallet Insurance — Crypto.com has also secured cumulative cold storage insurance coverage up to US $250 million to safeguard against theft or direct loss with a market leader in institutional-grade cryptocurrency custody services.
Cold Wallet Ledger Security — 100% of user crypto-currencies are held offline in cold storage. Crypto.com has a strategic partnership with Ledger, a global leader in security and infrastructure solutions for crypto-currencies and block-chain applications, integrating its institutional-grade custody solution, Ledger Vault, leveraging HSM (hardware security modules) and multi-signature technologies.
Team has developed the app which acts as a wallet and also a fiat to crypto on ramp. You can use it like an exchange to purchase crypto directly, then use that same app to spend crypto with your mco card, with an instant crypto to fiat conversion and minor fee.
Curious to know more about recent activities of Crypto.com ???
To hear more about Crypto.com, I highly suggest checking out the recap of CEO Kris Marszalek’s AMA where the CEO answers various questions from the community. There are multiple threads including the most recent from 12/2019, 10/2019 and 9/2019.
History:
The CEO of Crypto.com is Kris Marszalek, a business veteran who also served as the CEO of Ensogo, a social commerce company, and the founder of Beecrazy (an e-commerce company). Other members of the company’s C-suite are Rafael Melo (CFO) and Gary Or (CTO).
As the name of the internet domain, crypto.com was originally registered in 1993 by cryptographer & Professor Matt Blaze. Following the cryptocurrency boom which made the domain name a highly desirable asset, Matt Blaze repeatedly refused offers to sell it, at least until the team from the Hong Kong-based Monaco approached him and eventually bought the name from him back in 2018 for around 10 million $.
Referral Program
$50 SIGN UP BONUS :
If you’re interested use code 9mj9ffvcrb sign up and we both receive $50 in MCO when you stake 50 MCO for a MCO Visa Card*
Referral Link: https://platinum.crypto.com/r/9mj9ffvcrb
Happy earnings!
*Crypto.com Referral Program — In order for both of us to receive $50 in MCO, you will need to buy and stake 50 or more MCO (approx. $200) for a 6 month period effectively ordering a MCO Visa Debit Card. The 50 MCO will be released immediately upon successful MCO staking and no strings attached .