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Bitcoin is huge. The cryptocurrency has revolutionized the way people think about and use money. It’s not a surprise then that many more cryptocurrencies have popped up to try and emulate bitcoin. One of those digital currencies is called Crypto.com and it’s making waves by combining the features of a mobile cryptocurrency wallet with a cryptocurrency card app for purchase, storage, and payment acceptance – all in one place!
History of Crypto.com
Crypto.com was founded in 2016 by current CEO Kris Marszalek and CFO Rafael Melo with the former name “Monaco Technologies GmbH”. The company began as a cryptocurrency wallet service and has since expanded its offerings to include a mobile app, a prepaid card, and merchant services.
Crypto.com is headquartered in Hong Kong with offices in Singapore, the Philippines, and Australia. The company has raised $26 million from investors including Sequoia Capital, Andreessen Horowitz, and Charles River Ventures.
It is one of the leading cryptocurrency wallets with over 10 million users worldwide. The Crypto.com Wallet App allows you to buy, sell, send, and track your crypto holdings with ease. The app is available for both iOS and Android devices.
The Crypto.com Prepaid Card is a Visa card that allows you to spend your cryptocurrency anywhere Visa is accepted. The card is currently available in 31 countries and supports 10 different currencies.
In 2018, Crypto.com launched Merchant Services which allows businesses to accept cryptocurrency payments from customers around the world. Over 8,000 businesses have signed up for the service including Microsoft, Expedia, and KFC Canada.
Crypto.com Products:
MCO Visa Cards:
A variety of metal cards without annual, monthly, or delivery fees, up to 5% cash back (paid in MCO), unlimited access to airport lounges, 100% rebates on Spotify and Netflix subscriptions, and 10% back on Airbnb and Expedia purchases are just a few of the benefits offered by MCO Visa Cards, a line of Visa-approved prepaid cards. Additionally, depending on the level of card, it provides free ATM withdrawals and interbank rates (sometimes known as the Google rate) on currency. Users must buy MCO tokens via the Crypto.com Wallet & Card App and keep them for six months in order to reserve a metal card.
Wallet:
With the help of Crypto.com Wallet, users may safely purchase, swap, sell, and send a growing number of digital currencies for their actual value, with no markups or fees.
Crypto Invest:
A customer of Crypto Invest can buy one of three cryptocurrency portfolios that are traded utilising quant trading algorithms (market signals) and optimised to perform in any market. There are no entry, departure, or administrative costs. 9% of profits (with MCO staked) or 18% is the only success fee (without MCO staked). With as little as $20 USD, setup only requires a few taps.
Crypto Credit
Users can “Spend Crypto without Spending” thanks to the cryptocurrency collateralized loan business known as “Crypto Credit.” The MCO Visa Card can be topped up with stablecoins PAX or TUSD once a user deposits cryptocurrency in the Crypto Credit. The repayment period is 12 months, and there is no credit check.
Crypto Earn
Users can deposit their crypto holdingsand earn interest using Crypto Earn. Initial periods are for 1 and 3 months, with a variable holding term to follow. Users who have staked MCO receive preferential rates.
Features of the Crypto Wallet
Crypto.com’s mobile cryptocurrency wallet and card app is a great way to store, spend, and manage your digital assets. Here are some of the features that make it stand out:
–Convenient and easy to use: The app is designed for simplicity and ease of use, allowing you to easily send, receive, and manage your digital assets.
–Secure: Crypto.com uses industry-leading security practices to keep your digital assets safe.
–Multi-currency support: The app supports multiple currencies, so you can store and manage all of your digital assets in one place.
–Competitive rates: Crypto.com offers competitive rates on its transactions, making it a great choice for those looking to save on fees.
–Referral program: Crypto.com has a referral program that allows you to earn rewards for referring friends to the platform.
How to use wallet for transferring money and managing your crypto portfolio
Assuming you have a cryptocurrency wallet set up, you can use it to transfer money and manage your crypto portfolio in a few different ways.
To transfer money, you’ll need to know the recipient’s wallet address. Once you have that, simply enter it into your wallet’s send interface and specify the amount of cryptocurrency you’d like to send. Some wallets will also let you set up a transaction fee, which goes to the miner who processes the transaction.
To manage your portfolio, most wallets will give you an overview of your account balances and recent transactions. From there, you can decide which coins to buy or sell, and how much of each coin you’d like to hold. Many wallets also offer charting tools to help you track price movements over time.
Token Information:
The company released its own cryptocurrency, MCO, in the first half of 2017 via ICO funding. From May 18 until June 18, 2017, the ICO was active and by selling 12,135,542 MCO tokens publicly the company was able to raise USD 26.7 million.
The business started shipping its distinctive Visa debit cards in July 2018 and made the announcement that it will be changing its name to Crypto.com. The business announced the introduction of the Crypto.com platform blockchain the same year, which would be supported by the soon-to-come CRO coin.
About CRO:
The Cronos Chain is a decentralized, open-source blockchain created by Crypto.com which uses Cronos (CRO) as its native cryptocurrency token.
CRO has a circulating supply of 25,263,013,692 CRO coins and a max. supply of 30,263,013,692 CRO coins.
The primary goal of CRO blockchain is to benefit customers of Crypto.com’s payment, trading, and financial services solutions.
Owners of CRO can stake their currencies on the Crypto.com Chain in order to serve as a validator and get fees for handling transactions on the network. Additionally, transaction fees on the Cronos Chain can be paid with CRO tokens.
Users of the Crypto.com Pay payments app can receive rewards of up to 20% by paying businesses in CRO and up to 10% by buying gift cards and sending money to other users in person.
In terms of trading use cases, the Crypto.com App enables users to stake CRO in order to receive token incentives for particular listings.
Aside from that, consumers can get up to an annual interest rate of 10-12% on their Crypto.com Coins by staking them on either the Crypto.com Exchange app or Crypto.com’s metal Visa Card.
Pros and Cons of the Wallet App
Assuming you are referring to the Crypto.com Wallet App, here are some pros and cons:
Pros:
-Tracking of your portfolios in real-time
-News feed on various cryptocurrencies
-Set up price alerts for certain cryptocurrencies
-User-friendly interface
Cons:
-Does not currently support all cryptocurrencies that are available on the website/exchange
-Limited customer service options (live chat not available)
Crypto.com Latest Updates:
Crypto.com partners with FIFA World Cup, Qatar 2022
FIFA has announced that Crypto.com will be an Official Sponsor of the FIFA World Cup Qatar 2022.
The company will be the exclusive cryptocurrency trading platform sponsor of Qatar 2022™ and will benefit from significant branding exposure both within and outside the tournament’s stadium.
Conclusion
Crypto.com is a mobile cryptocurrency wallet and card app that allows users to buy, sell, and store cryptocurrencies. The app also allows users to spend their cryptocurrencies anywhere Visa is accepted. Crypto.com is available in over 180 countries and has received over $300 million in funding from investors such as Google Ventures and Sequoia Capital.
If you’re looking for a mobile cryptocurrency wallet and card app that’s easy to use and has a great selection of features, Crypto.com is definitely worth checking out. The app is free to download and gives you the ability to store, send, and receive a variety of different cryptocurrencies. Plus, with the built-in exchange you can easily convert your crypto into fiat currency or other cryptocurrencies without having to leave the app. Whether you’re a seasoned cryptocurrency user or just getting started, Crypto.com is definitely worth taking for a spin.
