One of the first cryptocurrency I want to highlight is Crypto.com or MCO.
What’s the difference that make the difference – and caused its price to soar ~20% in the last 24 hours to USD5.34 at time of writing?
1. Truly living up to its vision to have crypto in everyone’s wallet – it has a debit card that allows you to spend crypto anywhere on anything (convert cryptocurrency into fiat (USD, EUR, GBP, SGD, HKD, JPY, AUD), yes even a cup of Starbucks coffee – remember that this is one of the major criticisim that cryptocurrencies will never replace fiat currency as we cannot even spend on daily goods – UNTIL NOW
2. Right place – the company will start shipping the debit cards to customers in Singapore today – this is the first in Asia though similar debit cards are already available in US/Europe and Asia is clearly the next growth frontier
3. Deliver real value by solving many customer pain points
a. Buy crypto easily in Crypto.com Wallet App via credit card at competitive rates or fiat vs. logging onto crypto exchange with long lead time (up to 3-4 days) or buying from cryptocurrencies ATMs that are not widely available and at high rates (5-10%)
b. Spend overseas with 5-8% savings in FX fees vs. high street banks
c. Access to diversified cryptocurrency investing using advanced quant trading strategies, no fees other than success fee, withdraw any time without penalties d. Send crypto & fiat currencies to Crypto.com Wallet App users instantly without fees
4. Income generating vehicle
a. Cash rebates for card spending and purchase of cryptocurrency
b. Referral fees when your friends sign up and for their transactions
5. Huge potential to soar – development is still at early stage with many not aware of Crypto.com (MCO), of those aware many may be sceptical and wait on the sidelines still
Above is my opinion and not recommendation to invest, all investor need to do your own due diligence before investing money. https://www.crypto.com/en/about.html
