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Crypto.com Chain - a Swiss idea for paying with cryptocurrencies
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Crypto.com Chain - a Swiss idea for paying with cryptocurrencies

created Michał Sielski11 March 2020

There are so many cryptocurrencies that it is impossible to imagine the prices of goods or services expressed in each of them. What if there was one card for all payments? And it also gave the possibility of payment also fiduciary currencies? This idea together with Visa develops the cryptocurrency project Crypto.com Chain.

Undoubtedly, for now, cryptocurrency payments are more of a gadget, offered by companies more for marketing purposes than for practical purposes. Of course, their representatives always say that they want to be ready for the coming revolution, but the facts are that a small percentage of customers take advantage of this opportunity. The reasons are simple. It's not common, so there aren't any easy solutions to using it. And there are none, because… the solution is not common. Is the circle closed? None of these things. More companies are already working on the maximum simplification of cryptocurrency transactions. One of those closest to this is Crypto.com Chain.

Idea at Crypto.com

The original name of the project is Monaco, because it is implemented by the Swiss company Monaco Technologies, which it owns Kris Marszalek. Currently - already under the name Crypto.com Chain - the company distributes the MCO Visa payment card. Sales are underway in Singapore, and ultimately it is to be quickly delivered to the USA and European countries. The ICO of the project lasted only a month from May 18.05.2017, 26,7. During this time, USD XNUMX million was raised.

Payment card that earns

The MCO Visa pre-paid card is the most important chain-based platform project Ethereum. It works similarly to classic prepaid cards, but it is topped up not only with fiduciary currencies (you can deposit, among others, euros, Australian and Singapore dollars), but also with cryptocurrencies, currently the largest, such as: Bitcoin, Bitcoin Cash, XRP, EOS, Litecoin and of course the Crypto.com token.

The card is obtained for free and you can even earn on it. Although ATMs can be used to withdraw only the equivalent of USD 200 a month, you earn on the cashback option, thanks to which 1% of the card transaction value goes to our account.

crypto.com coin

The card has several options, and the best cashback is as high as 5%. You do not have to pay for any of them, and the type of card depends on how much money you put into it. The easiest way, of course, is to deposit utility tokens Crypto.coin (CRO), which obviously affects the increase in its price. Cryptocurrency is bought on exchanges and then "frozen" by card users who spend it, for example, on daily errands. The most prestigious types of cards - in addition to the refund of a part of the payment amount - also allow free access to Spotify, Netflix, as well as discounts on AirBnb.

Rapid development, big plans

You can already pay with cards in 40 million. places in Singapore, because it is implemented together with Visa, a global hegemon in the field of cashless payments. Therefore, you can also pay with cryptocurrencies in all places where Visa cards are accepted. However, you need to be patient while topping up the card with cryptocurrencies. In case of Bitcoin it requires several confirmations, which can sometimes take up to an hour. For the same, getting the card is child's play. It is enough to "click" the appropriate fields in the application.

Crypto.com Coin quotes

Crypto.com Coin is currently listed on 31 cryptocurrency exchanges around the world. As at 10.03.2020/0,049/14,2, you have to pay USD 100 for it, which with 19 billion units (ultimately 10.03.2020 billion tokens) will give it 705th place in terms of capitalization among all cryptocurrencies in the world. Capitalization as at 12.07.2019/0,16/XNUMX is over USD XNUMX million. We peaked on XNUMX/XNUMX/XNUMX when the price reached USD XNUMX.

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About the Author
Michał Sielski
Professional journalist for over 20 years. He worked, among others, in Gazeta Wyborcza, recently associated with the largest regional portal - Trojmiasto.pl. He has been present on the financial market for 18 years, he started on the Warsaw Stock Exchange when the shares of PKN Orlen and TP SA were just being introduced to the market. Recently, his investment focus has been exclusively on the Forex market. Privately, he is a parachutist, a lover of Polish mountains and a Polish karate champion.