Monaco

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Monaco Review

When investing in virtual currency, you need to do your research. We provide you with reviews of each world top cryptocurrency out there, so that you can find the best crypto coins to invest in for you. This is a review of Monaco.

Background

With the motto “Cryptocurrency in every wallet”, MCO aims to bridge the gap between traditional FIAT card transactions and crypto-based transactions. The company is providing a VISA compliant card that allows users to spend cryptocurrency in everyday life. It will enable users to make payments at over 40 million locations worldwide, where VISA is present. Users will also receive up to a 2% MCO token cash-back on all purchases.

MCO Ecosystem

Monaco comprises of an app, a card and a wallet. This ecosystem facilitates interbank exchanges from crypto to FIAT. Therefore, users need MCO tokens to order one of the Platinum cards (Ruby Red and higher). Tokens can be bought on exchanges such as Bittrex and Binance.

Monaco has an app for Android and iOS to manage one’s cryptocurrency balances to be used with the Monaco Visa card. People can also use the app to track their crypto holdings and see price changes.

Outlook

The cryptocurrency debit card industry remains a generally challenging environment. In and out-flux to Bitcoin via exchanges and other platforms are becoming seemingly cost-effective with regards to SegWit implementation and other large updates on the network. Cardholders however, are still paying heavy surcharges for the comfort of spending crypto via traditional instruments. The company behind MCO has a good chance at paving the way for transactions in the crypto-FIAT environment, since they have a clear focus on compliance and security. The fact that they already have a partnership with VISA locked in, gives them a head start to competing companies doing the same.

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