Crypto.com is a cryptocurrency company that started out by offering VISA-powered payment cards in 2017. Since then, it has expanded its services.
Crypto.com has two tokens: MCO and Crypto.com Coin, known as CRO. MCO has been available since 2017 and is targeted at Crypto.com’s end users, who can earn higher rewards and lower rates by staking the token. Crypto.com’s newest coin, CRO is used as a payment method and settlement on the company’s native blockchain.
There are many benefits for staking CRO on the Crypto.com Exchange, including reduced trading fees.
Crypto.com’s flagship product is its VISA-backed prepaid debit card. These cards are as legitimate as other prepaid cards but they are a lot more crypto-friendly. Cardholders can manage their account via the Crypto.com mobile app. Cardholders receive MCO tokens with every purchase that they make. Those who hold more MCO stake receive higher rewards and greater access to partner benefits.
MCO Rewards, similar to cashback on normal credit cards, are highly competitive in an industry where 1% to 2% is the norm. The attractive benefits of the card will make it worthwhile using for most as you can receive rebates for Netflix and Spotify subscriptions which would quickly stack up. Another advantage is that these cards do not have the fees typically associated with a prepaid card. There are no minimum balance requirements, annual fees, or international transaction fees. Nor are there fees for using ATMs or making withdrawals.
The MCO Card is always topped-up and settled in fiat, not in cryptocurrency. Crypto.com offers a competitive crypto-cashback and access to a variety of crypto-related financial services in an easy to use interface.
Crypto.com’s exchange promises features such as deep liquidity, competitive trading fees, and institution-grade security, plus special rates for users who hold the CRO token. The trading platform supports many major cryptocurrencies.
Crypto.com allows borrowers to take out loans or lines of credit by depositing various tokens, including Bitcoin, Ethereum, CRO, and MCO. This service offers a 50% loan-to-value ratio. Borrowers pay 8-12% interest annually based on how much MCO they have staked.
Crypto.com’s Earn feature allows users to invest in over 20 different cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Tether.
Crypto.com Pay allows businesses and vendors to accept cryptocurrency payments in their online store.
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