Crypto.com is a cryptocurrency and payment platform. Its main aim is to promote the widespread adoption of cryptocurrencies. Founded in 2016, Crypto.com already has more than 3 million users. The company is headquartered in Hong Kong and is headed by skilled entrepreneur Kris Marszalek. In addition to him, Crypto.com has 3 other Co-founders– CFO Rafael Melo, CTO Gary Or, and Head of Corporate Development Bobby Bao.
What Is Crypto.com?
Crypto.com represents a one-stop-shop for consumers to buy, save, and invest in cryptocurrencies like Bitcoin, Binance Coin, and Ethereum.
The website features a range of staking options that enable clients to unlock functions like cashback, rebates, and interest rewards.
Strongly geared towards daily individuals, the company offers numerous ways for consumers to make the most of their digital asset holdings. At Crypto.com, you’ll handle their native token CRO. and CRO. Let’s check out the various role each token plays in the company’s broader ecosystem a bit further.
The very first token developed by the job was MCO, which gets utilized as a staking system to update credit cards with high function sets and unlock tiered benefits.
While Crypto.com Coin (CRO) is the native token of their Crypto.com Chain which is the blockchain technology behind their crypto payments solution After the MCO Swap revealed on August 3, 2020, by Crypto.com, CRO will end up being the sole token to power all of their items consisting of however not limited to MCO visa cards, Exchange, Pay, etc CRO is likewise noted on a wide range of widely known exchanges like Bithumb, Binance, Bittrex, and OKEx.
What is Crypto.com Trying to Achieve?
Crypto.com bills itself as a platform focused on dealing with numerous challenges dealt with by the blockchain market, particularly in the field of the functionality and accessibility of financial services it can provide:
MCO Visa pre-paid card offered by Crypto.com must assist the clients to buy and invest cryptocurrencies more easily. According to the Crypto.com group, today’s crypto lovers often find themselves faced with obstacles whenever they want to utilize digital currencies for daily payments. These processes are described as either taking too long or the number of places enabling this kind of payment is relatively low. At the same time, purchasing stuff abroad using credit or debit cards typically involves high charges (going up to 8 percent of the purchase amounts) charged by the monetary organizations which offer no real benefits for the users. Instead of this, the MCO card has no annual charges and worldwide purchases can be made with more beneficial interbank charges. Lastly, the users can invest and withdraw the fiat currency equivalent of their crypto with the Visa approved merchants, both online and offline.
MCO wallet and card app should enable the users to manage and purchase cryptocurrencies on their mobile phones in a more structured way. Crypto.com’s whitepaper describes the procedures involving buying and management of cryptos on mobile phones as “challenging”, especially when it concerns security and convenience. To counter this, Crypto.com provides a wallet that enables the users to buy and sell cryptocurrencies, send and get them and track their rates. The wallet app is also supposed to be used as the management tool for the MCO visa card. The alternatives likewise include withdrawal, freezing, and unfreezing of the card, with the included support for the conversion of cryptocurrencies into their fiat equivalents.
Crypto Invest plan ought to help the users establish their cryptocurrency portfolios without facing the obstacles they have to contend with today. Although much time has actually passed given that the introduction of cryptocurrency technology, some consumers still discover it difficult to choose which cryptocurrencies are best for purchasing or costing at any given moment. The Crypto Invest scheme used by Crypto.com uses access to a totally free service that will offer clients insight into trading strategies appropriate for the creation of specific trading portfolios. The quantity of initial contribution is reduced to $20USD while the alternative to leave the scheme can be used at any time at no penalty.
Founded in mid-2017 as Monaco, Crypto.com raised $26.7 million in an initial coin offering (ICO) in June of 2017. This investment took place at a typical rate of $2.89/ MCO.