The Monaco Visa Card is a simple and effective tool in the business world. It is now possible to link your BitCoin or Ether wallet to your Monaco account through an Android app or IOS.
These cards, after the verification and evaluation process, will be ready to use in any location where your visa card would be useful. Similar to the normal purchases, when you swipe a Monaco card, an equivalent sum of Bitcoin or Ether is transferred into the purchase amount in the respective currency you are currently using.
Monaco offers services in 23 currencies in 120 different countries. The only additional amount you need to pay them is the 1% transaction fee. Monaco bears the exchange rates between the cryptocurrency and the currency into which you want to convert it.
One of the main reasons why this is a great option is because the present-day exchange rates are at the precise interbank exchange rates. This is the rate involved in the conversion of cryptocurrency into the currency you want to convert it into.
There are no additional fees levied from you like almost all other big banks. Furthermore, using Bitcoin or Ether in your foreign transaction’s bypasses additional exchange fees among your home country’s currency and the currency you are about to use in the country you are in.
All this add up to more savings on top of the lower interbank exchange rates. As if these were not enough, there are no monthly or annual fees involved. All transactions are carried out seamlessly. Only the precise amount of money involved in the transaction is drawn out of your wallet. The rest of your money stays in your wallet, and this can be viewed through the application easily.
Presently you can fund the Monaco account using Bitcoins or Etherium to add to your wallet amount. Additionally, you can also use flat currencies to your account to make your future transactions. It is also speculated that cryptocurrencies will be accepted widely as a standard payment method.
Moreover, now it is possible to send your money to another Monaco user absolutely free of charge. You can send the money, and the recipient will receive it immediately. The other person will be able to use the money instantly for purchases or transactions.
Crypto.com is professionally known as Monaco. This Hong-Kong based project sent many danger signs because of the infamous Centra ICO. Several celebrities including legendary boxer Floyd Mayweather and Musician DJ Khaled were among those fined for fraud and for promoting a fraudulent ICO with a fake partnership.
During the latter parts of 2017, the project was even hung up several times, which caused to a widespread dump of the project by the investors.