Crypto.com Chain (CRO) and Crypto.com (MCO) Coin Review
If you follow the list of cryptocurrencies, then you probably noticed two similar names – Crypto.com and Crypto.com Chain. They have different prices and different capitalization, but the same developers.
Why did they create two projects at once? Is it worth investing in them? Is it possible to make money on the cryptocurrency Crypto.com Chain (it’s on the tenth place by market cap now)? We’ll answer all the questions in this article.
Crypto.com Products and History
In 2016, a group of Hong Kong specialists founded Monaco company, which two years later issued a payment card for digital currencies – Monaco Visa Card. The MCO cryptocurrency was created to convert assets (in particular, BTC and ETH) and pay commissions. Later, the developers changed the domain name to “Crypto.com” and assigned the same name to one of the project’s cryptocurrencies.
However, they realized that the current format will not allow achieving the main goal – to make cryptocurrency a massive and convenient means of payment. It took several years to create a card. Financial institutions didn’t want to work with digital currencies. This fact hindered the development of the MCO project. Now, Crypto.com has a lot of areas of work in the cryptocurrency field.
Now, Crypto.com has two different tokens. The main token is MCO. In the ecosystem, the token is used in several ways:
You can get cards of another tier;
Clients who want to use a credit service receive a 50% better rate if they use MCO as collateral;
MCO holders can vote for cryptocurrencies that are added to the wallet;
Cashback paid in MCO coins. The interest rate is about 18%.
Since the volume of MCO emission is limited to 31.6 million coins, the growing popularity of payment crypto cards should lead to a situation in which more MCOs will be recorded by their owners to receive high-level cards. When the product gains popularity, customers will be motivated to sell their Bitcoins for MCO to have access to more favorable credit conditions.
MCO Live Price
Crypto.com Chain (CRO) Token
At the end of 2018, a second altcoin, with CRO ticker, appeared. The developers are the same, but the goals are different. There are a number of technical variations between these two cryptocurrencies.
As we’ve already mentioned, in 2018, the startup management announced the launch of the Crypto.com Chain platform, which aimed to help other companies integrate their tokens into the real economy sector. The token is used to pay transaction fees, convert assets, and create new nodes. CRO token represents altcoin on exchanges and can become a tool of earnings for investors.
Since November 2018, users can participate in CRO airdrop. Here are a few facts about CRO airdrop.
Each owner of the Crypto.com wallet (installed Wallet App) can receive tokens. Exception: citizens and residents of China, Hong Kong, Singapore, Switzerland, and the United States.
Duration: 5 years from the moment of the first token distribution.
Frequency: monthly. In this case, the MCO number on the wallet balance is checked in advance. The check takes place on the first day, at 8.00 UTC. The balance includes both stored tokens and those assigned (rate, stake) to a specific project, account, etc. Based on the received figure, the amount transferred to the account is calculated.
The amount distributed between the owners of MCO is 166 666 666 CRO, which equals 1.66% of the total supply. The percentage received by each wallet owner is calculated as follows: his/her share of MCO coins is taken in relation to the total stock of this cryptocurrency, as a percentage. Then the corresponding percentage of the distributed CRO tokens is transferred to the balance.
The approximate amount received is 5276 CRO for every 1000 MCO.
There are three nuances of receiving tokens through an airdrop:
every year the number of free tokens will decrease (in 5 years it will be 2%);
the amount of charges depends on the number of passive assets in the MCO (the more movements were on the account, the fewer coins you will get);
received coins are automatically blocked in the wallet for a year.
Crypto.com Chain (CRO) Live Price
Crypto.com Card and App
Ex-Monaco Visa payment card was introduced in 2017. It is supported by the Crypto.com app which allows you to make in-app transactions or buy and sell cryptocurrencies. The app allows you to track prices and set alerts. Here are the main features of the app:
Simple payment system. To send and receive a transfer, you will need to scan the QR code in the installed wallet. It can be associated with a Visa bank card.
Large selection of assets. 7 fiat and 32 digital currencies. Over time, the list will expand.
Unprecedented customer protection. To increase the security of trading operations, a special Buyer Protection Program will be used. To verify transactions, they will implement the Proof of Goods & Services Delivered algorithm.
High throughput. The goal is 50 thousand transactions per second.
However, first and foremost, the app is a place where you can check your card balance. There are five types of card tiers.
Online stores can use the platform to receive payment for the goods or even create trading floors within the system by launching your own nodes in the original blockchain. Buyers can pay for purchases using a card and a mobile application. With this card, you can have a discount on Netflix, Spotify Airbnb, and Expedia.
Are MCO and CRO Tokens Good Investment?
Let’s look at the advantages and disadvantages of coins. Here are the main advantages:
Promising direction. The introduction of cryptocurrencies into settlements between buyers and sellers is already becoming a trend in the market.
Experienced team. It included top experts working in Western Union, PayPal, AMEX, FINCOVA and other well-known corporations.
Eminent partners. In addition to Visa Inc, the platform was supported by Airbnb, Expedia, Netflix and Spotify. They’ve joined the cashback program and get a refund to users who paid in CRO.
The disadvantages are the following:
The lack of transparency in spending. The developers do not report how they spend the money received from the sale of assets. They do not plan to conduct audits to verify the provision of stocks.
A lot of competitors. The integration of digital currencies and economics is involved in many projects. Some of them have already submitted ready-made designs (Ripple, NEM, NEO, Pundi X, Monacoin).
Another point that causes concern among traders is the suspicious jumps in the rate. For example, when a bearish trend prevailed in the market, assets grew by hundreds of percent in just a few days.
The community supposed it to be the market speculation in which both developers and whales can be implicated. The developers have more than half of the assets in their hands, while whales can afford to buy up a large number of coins and control the network, creating nodes.
Where to trade MCO and CRO coins?
You can trade MCO and CRO tokens on several cryptocurrency exchanges. We’ve made tables with the most popular exchange pairs on several trading platforms.
#1. Trade MCO Token
By the way, Changelly platform offers you a way to buy MCO with your banking card swiftly, safely, and with minimal authentication procedure. The fiat payment process is powered by our partner Indacoin and takes just a few simple steps to take.
The purchase option is open both via our website and the Exchange Widget that can be found at our partners’ resources.
#2. Trade CRO Token
The idea of the Crypto.com project is great. They just embed cryptocurrencies in everyday life mixing it with fiat currencies. Delighted customers have already received some of the treasured envelopes with a card and started to use it even in Europe.
On the other hand, the project is very difficult to implement everywhere due to different laws and the unapproved legal status of cryptocurrencies. People around the world are investing in this cryptocurrency to get the cherish card that will simplify the use of cryptocurrencies in everyday life.
The company also has a payment application and a cryptocurrency wallet, and customers can receive rewards in the form of interest, placing bitcoins and other digital assets on their platform.