Why you should pay attention to MCO (Monaco Coin)
The cryptocurrency market is a market that has a very niche subscription. The market has also gotten itself a reputation of being an exclusive club of techies and investors. Universal acceptance and adoption, however, is still a long way away for the cryptocurrency market.
One of the major concerns about the cryptocurrency market that the majority of the community worries about is the fact that there is an aim and a way to get there, but there is no real-world application of the solutions that are being developed in the blockchain industry. With that in mind, the average investor as well, have very few avenues to use and spend their cryptocurrency holdings and other digital assets.
Very few companies and projects actually focus on integrating the cryptocurrency market with real-world applications and day-to-day uses. Some companies in that are trying to make prototypes and ways to make using and spending cryptocurrencies similar to the way fiat currencies are spent. Among these are names like Pundi and Crypto.com.
What is Crypto.com?
Crypto.com is a company that was founded in Switzerland in 2016. The aim of this company is to promote cryptocurrencies, its use and speed up the world’s transition from the existing financial structures to the cryptocurrency market. They are one of the pioneering payments and cryptocurrencies platform in the market.
The team’s aim at crypto.com is to make cryptocurrencies more accessible and usable for people all over the world. They aim to make this happen by integrating the cryptocurrency market with the users’ and the community’s day-to-day.
Crypto.com offers multiple services. All these services, however, are offered to their users with one simple mobile application. The application is essentially a cryptocurrency wallet application using which users can spend, buy and sell. The wallet allows many features and applications to its users that sets it apart from other wallet providers in the market.
Using Crypto.com’s wallet application, users can buy, sell, track, pay and also invest in new cryptocurrencies. One of the most unique features that the wallet offers its users are the credit options. Using the credit option that the crypto.com wallet offers, users can spend in cryptocurrencies without actually selling their holdings.
The biggest difference, because of which the company has pulled ahead in many aspects, is its spending card. Crypto.com has developed six types of spending cards called the Monaco Card.
There are six different types of these cards and they are;
- Obsidian Black
- Icy White
- Jade Green or Royal Indigo
- Ruby Steel
- Midnight Blue
The user gets to decide, based on their usage and need, which card they would like to own. Each card has a different withdrawal limit, cash back margin, and privileges. All these cards are developed and used in the same way Visa cards are.
The native coin of crypto.com is called MCO Token. And the coin is an ERC20 standard token that was recently listed on quite a number of exchanges. To be able to use their MCO Visa card, the user has to first buy the cryptocurrency and then subsequently spend them on the card.
Crypto.com started in 2016. Given the year they began, the company is considered as a pioneer in the cryptocurrency market as a cryptocurrency payment platform. The company was founded in Switzerland by many of the FinTech industry’s best. Crypto.com released their first prototype model of their wallet in 2016 itself and subsequently branched out into the Asian market by opening an office in Hong Kong.
One of the biggest partnerships that the company struck at a very early stage was the one with Visa. This partnership really put the company on the map for all intents and purposes because this formed a very strong link between the fiat currency finance firm and the cryptocurrency market.
Leveraging their partnership with the payments giant, the cryptocurrency company developed a suite of cards that promoted the day-to-day use of cryptocurrencies and made the entire market a little more accessible.
MCO Token is the native coin of the Crypto.com wallet. The coin is an ERC20 Standard Token and is trading on most exchanges. The coin entered the cryptocurrency market back in 2017 and has had a good run.
The reason the coin does so well and is expected to better is because this is a company that is concentrating on integrating the cryptocurrency market with the community’s day-to-day. There is a serious focus on making the cryptocurrency market more accessible and easier to use by breaking down the barriers hindering the mass adoption.
The coin also plays an integral part in the overall product of the cryptocurrency company. In order to use the Visa enabled cards, it is essential that the user buy the coin.
The coin has been in the market for over a year now. And its managed to keep a reasonable price throughout. The all-time-high of the coin is $22.24 USD and the current value is $4.39 USD.
This is definitely a coin to watch out for because of its focus on integrating the cryptocurrency market into users’ day-to-day. There is an obvious and inherent focus on making cryptocurrencies something that everybody uses and switches to. It is not very common to see companies focus on real-world applications of the cryptocurrency market, but that is something that Crypto.com, with its wallet application and Monaco Card, is making its mission statement.
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Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology.
Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.