As is the case with most currencies, to truly understand a coin one must first know where it is used - and what purpose it holds.
What is $MCO?
Monaco is a payment and cryptocurrency platform that operates its own native currency called $MCO token. The platform also offers Monaco Visa cards, and a wallet app that allows users to easily buy, exchange, and spend fiat and cryptocurrencies, such as $BTC and $ETH, at real-time interbank exchange rates.
So, what is $MCO?
Monaco's native cryptocurrency token - $MCO is traded under the MCO symbol on 20+ cryptocurrency exchanges.
$MCO is used to make and settle payments at millions of locations worldwide.
What are the features of Monaco's offering?
Monaco's cryptocurrency-backed Metal Visa cards come with zero annual fees, cashback schemes and varying features on every card. User's can back their cryptocurrencies in the Visa Cards.
On crypto spending, Monaco debit cards provide 2% rewards like popular cashback and reward schemes on cards. Another USP of the Visa card is the real-time interbank exchange rates with no overseas fees.
Monaco claims that these rates offer savings in the range of 5 to 8 percent compared to real-world banks. It also allows completely free withdrawals from ATMs across the globe and airport lounge access. Monaco's vision is to bridge the real-world banking and cryptocurrency.
Monaco offers a secure multi-currency wallet app that supports the tracking of up to 200 coins along with the ability to buy, exchange and send them across wallets and exchanges globally.
Depositing cryptocurrencies in the Monaco wallet, their cryptocurrency exchange and inter Monaco wallet transfers are completely free. Users are charged a variable fee for transferring cryptocurrencies to external wallet addresses.
Monaco wallet plans to support automated cryptocurrency investing, a feature expected to be launched soon. With a low minimum starting investment, it will enable users to build their cryptocurrency portfolio in no time, automate buying and selling, and allow for easy withdrawal at all times without any transaction fees within the Monaco network.
Monaco expects to charge a fee only when a user makes a profit, not on every single transaction.