Review on Crypto.com by Mr Benji

Name: Crypto.com
Item: Crypto.com
Rating: 4

June 26, 2019

Visa card

Crypto com Chain is a payment platform in cryptocurrencies, 
- developing its own payment card based on the Visa network. The mission of the project is to enable making daily payments using cryptocurrencies using a payment card and a mobile application. Crypto com Chain has its own MCO token, based on the Ethereum smart contract, as well as the CRO token, but the latter will be replaced in the future by a cryptocurrency operating in an autonomous, high scale Crypto com blockchain, which is currently in the early stages of testing. The project is created by the Swiss company Monaco Technologies, founded in June 2016 by Kris Marszałek. In July 2018, the project and changed its name to Crypto com Chain. In October last year, the project began distributing the MCO Visa payment card in Singapore, planning to introduce it also in the United States, and then in Europe.
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Differences between MCO and CRO usage tokens
- Both tokens are based on the smart standard ERC20 contract in the Ethereum network, however, the CRO will be replaced in the future by the native cryptocurrency of the Crypto com network.

- You can not confuse the role of both tokens in the Crypto com ecosystem, although they are often mistakenly treated interchangeably. The MCO service token was issued during the ICO, which took place at the turn of May and June 2017. Its possession is necessary to obtain one of the five platinum cards, which offer much more described above possibilities from the basic, free MCO Visa card. Interestingly, the mere issuance of platinum cards does not require payment of the MCO fee, but its "freezing". The application for the issuance of a card and the MCO balance blockage can be made using the mobile application. What's more, MCO holders receive monthly airdrops (paid every year)

- Crypto com Chain Token was broadcast on November 20, 2018 and is intended to serve network users, mainly sellers, for immediate settlements between the currencies served by the Crypto com portfolio.
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MCO Visa payment card
- the project has introduced the flagship product, which is the MCO Visa pre-paid payment card. It requires prior crediting of the portfolio balance with supported cryptocurrencies (Bitcoin, Litecoin, Bitcoin Cash, XRP, EOS, Crypto com token) or fiat currencies. The basic card can be obtained without any additional fees, although it offers the option of returning 1% of the value of transactions made monthly and a $ 200 ATM withdrawal limit. The most expensive Obsidian Black card offers up to 5% cashback on transactions. Cards with more possibilities require "freezing" the MCO usable tokens sold, sold at ICO, from 50 MCO to 50,000. MCO for the Obsidian Black card - Payment cards that require more funds to be blocked offer many bonuses such as covering the costs of the Spotify subscription, whether Netflix or rebates on AirBnb services.

- The MCO Visa payment card is currently only available to residents of Singapore, due to regulatory restrictions. It is worth emphasizing, however, that despite the regional restrictions on its receipt, it can already be paid in more than 40 million retail and service outlets that accept Visa payment cards. What's more, the MCO card supports all ATMs compatible with Visa cards, but the transaction fee is dependent on the ATM operator. To receive the card, a basic KYC verification procedure is required, requiring an e-mail address, telephone number and a photo ID.


- The payment card can be topped up with both crypts and currencies served by the mobile application. In the case of BTC, wait for 6 confirmations.
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