What is Crypto.com?
Crypto.com started out with the brand name of “Monaco” and was established with the aim of promoting a world that is based on cryptocurrency. Driven by this dream, the creators built an ecosystem that consists of different products powered by blockchain. These range of products include:
- MCO Visa card
- Crypto.com (MCO) Token
- Mobile wallet app
- MCO Crypto Invest services
History of Crypto.com
The domain name crypto.com was first registered by cryptography Matt Blaze in 1993. Not long after this, cryptocurrency witnessed a boom which made the domain name become a very valuable asset. Blaze refused many offers to sell it, until the Hong Kong-based Monaco team approached and bought the name in 2018.
Kris Marszalek is the CEO of crypto.com. Kris is a veteran in the business world who has served as the CEO of Ensogo, a social commerce company and the founder of beecrazy (an e-commerce company). Other members of the company include Rafael Melo (CFO) and Gary Or (CTO).
Visa Cards from Crypto.com
The flagship product offered by Crypto.com are the MCO Visa prepaid cards. These cards combine the features of credit and debit cards and the features of cryptocurrencies. Shipping of the cards began in Singapore, in October 2018. The cards come with the following features:
1. The card’s most basic function is that it provides users with the ability to buy, sell, trade and spend crypts in parallel with fiat currencies. For example, the first series of cards were issued in Singapore dollar (SGD) which serves as the basic currency of the card along with the Bitcoin balance which can be easily used to top up SGD through bank transfer, debit or credit card or crypto.
2. No ATM withdrawal fees.
3. Tap-and-pay feature
4. No monthly or annual fees and minimum balance requirements for accounts.
5. You can get as much as 5 percent back on all travelling spending without a specific minimum or maximum spend.
6. Free shipping is available.
7. 100 percent discount for standard Netflix and Spotify subscription plans.
8. 10 percent back on Airbnb and Expedia.
9. LoungeKey airport lounges for select cards offered by the developer. Card owners can use it for special shopping, dining and spa, as well as partnerships with restaurants of bars. Finally, card owners can enjoy discounts on bills for using this amenities with these cards.
10. The cards are accepted at payment points that accept Visa cards, and this includes over 40 million retailers.
11. Cardholders can earn between 10 and 25 percent of transactions through the customer referral scheme.
Card Tiers Offered by Crypto.com
Crypto.com has introduced several tiers for its cards to its MCO Visa card line so that it can be more flexible in meeting the demands of customers. These cards include:
- Midnight Blue Card: With this card, customers are not obligated to stake any amount of MCO tokens. Users can withdraw up to $200 or exchange $2000 without any charge. ATM withdrawal fee is 2 percent and 0.5 percent interbank fee.
- Ruby Steel Card: The Ruby Steel Card tier requires the stake of up to 50 MCO tokens. It limits going up to $400 and $4000. Its wallet cashback rewards come to 0.2 percent, with referral bonus of up to 10 percent, which includes a $20 reward for referring up to five additional users.
- Jade Green Card. Once a user becomes eligible to stake 500 MCO tokens, he is qualified for Jade Green Card. Also, the limits are raised to $800 and $10,000. The referral fees grow as well rising up to 15 percent, with an added bonus of $40 each of 10 friends one can bring in as participants. You can enjoy the right to use the LoungeKey airport lounges with this tier.
- Icy White Card. Starting with 5000 staked MCO tokens, this tier offers cashback rewards which increase to 4 percent for the card and up to 0.8 percent for the wallet. Just as well the referral bonuses jumps to 20 percent and $80 each when you bring in 50 friends.
- Obsidian Black Card. The Obsidian Black Card is the flagship tier which starts with staking nothing less 50,000 MCO tokens. The cashback rewards are up to 5 percent for the card and 1 percent for the wallet. When using the card on ATMs, the free transaction limits go up to USD 1000, with referral bonuses going to 25 percent and USD 100 each for 100 friends.
Crypto.com Listing on Atomars
Crypto.com has announced that it will be listed on Atomars on 1st of October with trading pairs: CRO/BTC, CRO/ETH, and CRO/USDT.
Atomars is a digital assets trading platform that seeks to bride the world of fiat currencies and cryptocurrencies. Atomars aims to build a global platform that provides tools and encourages innovations that improve crypto trading and make it safe and secure for anyone wherever they may be all over the world. Atomars exchange currently supports all the major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dash (DASH), EOS (EOS), USDT (USDT), TrueUSD (TUSD) and other major currencies. The exchange platform also supports virtual fiat currencies or stable coins like USDT, USDC, TUSD, and PAX. They plan on supporting fiat currencies soon.