Crypto.com has announced that today is the day they will be shipping their premium metal prepaid VISA cards to customers in Singapore. Why is this product so game-changing? Because crypto.com has the potential to be Coinbase on steroids. Imaging a world in which Coinbase, a company valued at five billion dollars, had its own native token. Five hours after the announcement, the MCO token (available in the crypto.com app or on exchanges) is trading at +22% on the day.
About the launch, Kris Marszalek, Co-Founder and CEO of Crypto.com said: “We are thankful for the support of all our partners and our community. During this process, our team has grown tremendously and worked incredibly hard to achieve this milestone. This is an important step towards our mission of accelerating the world’s transition to cryptocurrency.”
The company has faced a steep dropoff of token price in the past few months, much like other tokens in the crypto space including the benevolent all-father, Bitcoin. In the crypto.com app, one can buy bitcoin, ethereum, XRP, Litecoin, and their native coin MCO at the present moment, with new coins to soon be added on their system. In the past, it has been said by staff that new coins will be airdropped to MCO holders.
The newest feature for Crypto.com to be launched was the Invest auto-trader, in which you can invest bitcoin into a basket of 30 other tokens to be automatically bought and sold. Crypto.com only takes a profit if you are making money, with MCO-holders paying a 9% fee and Bitcoin purists paying an 18% fee. It should be noted at the present that one can only use Bitcoin to use the Invest feature. This feature is not available in Singapore, the U.S. or Hong Kong (yet).
The shipping of cards will be a huge boost to the morale of the Crypto.com community, which has had over a year of waiting with bated-breath for the release of the cards. The wait, however, seems to have been worth it. With the E.U. and U.S. on a stream-lined path having successfully been audited by a Major-4 firm, cards are closer than ever!