Monaco Coin (MCO) Review: Everything You Need to Know
Monaco Card is a cryptocurrency funded visa debit card that allows you to spend your cryptocurrencies on everyday purchases.
Users first purchase Monaco coins in order to get a Monaco Card delivered to them. They then download the app in order to open a bank account where they can deposit their cryptocurrencies. Once there, users manually convert their coins to fiat money before you they can make purchases by swiping the card at any store.
Under their Blue ‘Free’ card, there is a $200 limit on free ATM withdrawals, and a $2,000 limit on interbank exchanges.
Monaco cards provide a gateway for merchants to begin accepting crypto-currencies as payments while reducing the costs of crypto to fiat conversions for customers.
Monaco Card Uses
Image via Mona.co
Monaco Card will allow cryptocurrency holders to easily spend their crypto on everyday purchases without having to convert them to fiat. The card will also be used for those regular travellers. This is because they can spend with their Monaco card without having to convert to the local currency.
There will also be the functionality for the holder of the card to buy and sell cryptocurrency in an automated manner. For example, they can buy and sell crypto based on market movements and cash out onto the card in real time.
They also hope to be able to provide credit lines to those crypto holders who have at least $10,000 in Monaco coins on the app.
These use cases have resulted in a number of benefits for the Monaco card user.