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RECAP – AMA with Crypto.com

AMA with Crypto.com

Past few days have been quite eventful for CoinDCX, with multiple announcements and partnerships in place. With Supreme courts lifting the ban on cryptocurrency, CoinDCX has explored partnerships to help take Indian crypto ecosystem beyond borders. One such partnership is Crypto.com. CoinDCX was the first firm to help Crypto.com launch their services in India by listing their assets MCO and CRO on CoinDCX with the INR pair. TL;DR: This blog accounts for power packed AMA on our official telegram channel hosted by Ramalingam Subramanian, Head of Marketing at CoinDCX and Eric Anziani, COO, Crypto.com on 28th April, 2020 at 17:00. This AMA saw heavy participation from the CoinDCX community and several questions were asked around crypto.com and its vision for the near future.

Ramalingam[CoinDCX] : Greetings everyone and welcome to a Fascinating AMA session with one of the leading voices in the crypto community. It’s our pleasure to have Crypto.com in this AMA as we list their token CRO on CoinDCX today.My name is Ramalingam Subramanian and I head Marketing efforts at CoinDCX. Today, it’s my privilege to conduct this AMA session.Before we jump on the AMA, we are a 10000 plus community here in this group and we need some rules to make this AMA very interactive and exciting for all of us.Having said that let’s welcome Eric Anziani, COO, Crypto.com. Without further ado, I would request Eric to introduce himself to our lovely community,

Eric [crypto.com] : Thanks Ramalingam! I am happy to be here today with you and the CoinDCX community.I hope you are all keeping safe in those challenging times.My name is Eric Anziani. I am the Chief Operating Officer at Crypto.com, and have been with the company for over 2 years now.I look after several functions at Crypto.com, including Product, Blockchain, Strategy, Research & Partnership, Growth, Data and Institutional Sales.I am very fortunate to have amazing teams that deliver outstanding products & services to our 1M+ customers across the globe.

Ramalingam[CoinDCX] : Well this is amazing, good to have you.Yes it is a trying time and we all need to stay safe.Though crypto.com needs no introduction still can you please introduce the project briefly for our community?

Eric [crypto.com] : My pleasure! Crypto.com was founded in 2016 on a simple belief: it’s a basic human right for everyone to control their money, data and identity.

In the recent decade, those rights have unfortunately been eroded and are now clearly under threat. Blockchain technology, and the cryptocurrency built upon it, can provide people with the ability to regain control, control of their money, data and identity.

That’s why at Crypto.com, we strongly believe that supporting blockchain technology will help build a healthier and fairer society for everyone. We are trying to help the world move in this direction by making cryptocurrency more accessible, spend-able and value-creating to everyone through our products and services.

Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance.  We have focused our efforts in solving these major customer pain points/ needs:

1. Trading – We addressed this primarily with the Crypto.com App, the best place to buy, sell, send and track cryptocurrencies;

2. Payments – We addressed this with a) the MCO Visa card, a metal card with no annual fees and up to 5% cashback; and b) Crypto.com Pay (powered by the Crypto.com Chain and CRO), which enables users to pay and be paid in any crypto, anywhere, for free using their mobile phone.

Ramalingam[CoinDCX] : Thanks Eric. That’s very interesting. This will help us take the AMA forward!Crypto.com has launched a series of products and services that seem to be the substitutes of the current banking system, such as wallet, card, invest, credit, and earn. Can you explain how these products work and how they can resolve the problems of current banks?

Eric [crypto.com] : Thanks, that’s a great question!

Indeed, on top of our core products providing trading and payments capability, we have developed a suite of powerful financial products on our Crypto.com App to bring more value to our customers.

Our products are easy to use, highly flexible and provide outstanding value to our customers.

Let’s start with Crypto Earn.

Crypto Earn enables our customers to grow their crypto and gives them up to 12% p.a. earning on 21 cryptocurrencies including BTC, ETH, LTC, XRP, BNB, TUSD, PAX, USDC, MCO, BAT, LINK, CRO, MKR, DAI, PAXG, EOS, XLM, ATOM, XTZ, BCH & VET. Interest is paid out weekly in the coin deposited with flexible, 1-month or 3-month terms available. Users earn more by staking at least 500 MCO. We offer the most attractive interest rates for such a product in the market today.

Let’s cover Crypto Credit now.

Crypto Credit gives our customers spending power by enabling them to instantly get a loan by depositing crypto as collateral. We already accept BTC, ETH, LTC, XRP, MCO and CRO as collateral, but more are coming

Unlike traditional financial institutions, Crypto.com does not impose a fixed repayment schedule, monthly fees, late fees, or payment deadlines. Users can enjoy the flexibility to repay any amount, at any time, in the 12 months upon the start of their credit term. No credit checks are required. Funds received can then be spent on the MCO Visa Card (with cashback of up to 5%) or used within the App to purchase more crypto.

Users who have more than 500 MCO tokens staked in the Crypto.com App receive a preferential rate both for Earn and Credit.

Crypto Invest – available for Crypto.com Private members, easy-to-use cryptocurrency portfolio & trading tool is designed to create a customised portfolio within minutes and then trade automatically based on market signals.

Crypto.com Private is a set of crypto-related services and benefits tailored for our Obsidian Black, Rose Gold and Icy White cardholders (staked 5,000 MCO or more in the app).

Crypto.com Private users can enjoy a range of additional benefits exclusively for them, including further 2% p.a. Interest on Crypto Earn or Private Jet Services

Definitely worth checking this offering out!

Last but not the least, we’ve launched Crypto.com Exchange enabling over one million users to trade digital assets while offering staking capabilities via CRO token.Ramalingam[CoinDCX]:Amazing. That’s a great set of products.Just to add more clarity,We understand that Crypto.com has two tokens – CRO and MCO. Can you explain the different use cases and the utility or use of these two tokens?

Eric [crypto.com] : MCO is the utility token which is used to get access to the MCO Visa card and for additional benefits within the Crypto.com App

Full utility of MCO token aboveCRO is the native token of Crypto.com Chain enabling transactions worldwide between merchants and cryptocurrency users — seamless, secure and cost efficient. Users can pay with Crypto.com Pay (powered by the Chain & CRO) and earn up to 20% cashback paying merchants online and offline.We recently integrated Crypto.com Pay to the Ledger online store for instance, Ledger will now accept CRO, along with BTC, LTC, ETH and XRP through Crypto.com Pay.Users can also purchase major brands gift-cards and earn up to 20% cashback when paying with CRO.CRO is currently used as our Exchange token as well, users can enjoy trading fees discount by staking CRO on the Crypto.com Exchange, and also can participate in The Syndicate events – able to purchase popular coins/tokens with up to 50% discount.

 

Full utility of CRO token aboveWe are building a complete ecosystem around our tokens to drive more utility and value for customers

Ramalingam[CoinDCX] : That is amazing. Thanks for explaining all the features in detail. Another question that I have, Crypto.com has recently opened its services to the Indian Market. Why did you choose India as your target market at this stage?

Eric [crypto.com] : With the recent news regarding the India’s Supreme Court allowing banks to handle cryptocurrency transactions from exchanges and traders, we believed this represented a great opportunity for us to connect with the Indian crypto community and a big step towards fulfilling our aim of accelerating the world’s transition to cryptocurrency.With the launch of Indian market, Crypto.com Pay Gift Cards have recently landed in India. Users can earn up to 10% cashback by purchasing gift cards from Big Bazaar, Croma, Flipkart, and more!We are exciting at the opportunity ahead and looking forward to bring more value to Indian customers, working with great partners like CoinDCX!

Ramalingam[CoinDCX] : That’s exactly where we believe in this project and we are also very proud of the partnership. It aligns with our overall goal of #TryCrypto as well.We also noticed that Crypto.com is offering 3.5% credit card fee waived for buying crypto and up to 20% cashback on essentials like groceries and food delivery. With the current market situation, why did you choose to launch this campaign at this time?

Eric [crypto.com] : The global Coronavirus pandemic has affected everyone’s lives and economies have been hit hard.In these tough times, businesses that are in a fortunate position to be growing have a responsibility to give backHence we introduced three measures which we hope will make the next three months slightly easier for our users globally.(1) 3.5% credit/debit card fee waiver for cryptocurrency purchases in the Crypto.com App(2) MCO Visa Card – Up to 10% increased rebates for essential purchases (food, groceries and delivery)(3) Crypto.com Pay – Double rewards on gift card purchases of food delivery and groceries (Up to 20%)

Ramalingam[CoinDCX] : That’s insightful.Well,  this ends my side of questions. Thanks for the answers. Amazing overallNow, I would love to open our group for a couple of mins for live questions. Let’s hear it from our community!

Community Questions

User : I follow your Twitter and recently I have been seeing lots of people receiving MCO CARDS, can you explain more about this cards, how can I get this card in India, how much do I have to pay for it and how secure is itAs every top exchange and wallet, cryptocom has a native token, Can you share about the UTILITY and real life use case and application of CRO and MCO tokens

User : I have heard about MCO visa cards a lot (Metal visa cards) . But don’t know much about it… Here I want to ask ” ” Is there any KYC required to using services of MCO cards? How safe is it? “.And Do any country have restriction on using MCO cards?

User : As we know about MCO Visa Cards are now available in UK , USA & Singapore .. Do you have any plans for worldwide expansion of these cards?

User : Crypto.com Pay is a great product and love using it. I prefer to use it more than my credit cards for cashback offers right now. Can we expect more intregrations apart from Flipkart and Big Bazaar soon?

User : Q. What is the best combination of staking CRO to get maximum returns and what is the best

User : The biggest barrier for newcomers in the crypto space today is buying and withdraw with FIAT, how secure and robust is your FIAT GATEWAY and what currencies are currently available, do you have gateway for INR

User : How does Visa’s acquisition of Plaid affect Crypto com products and the company in general?Where is Russia on the roadmap in terms of cards?

User : What are the ways that #CRYPTO generates profits/revenue to maintain your project? How can it make a win-win benefit to both investor and your project?

User : 1.What is your background and how did you come to the idea to create your project?2.What problems do you see occurring in the blockchain industry nowadays and how does your project aims to solve these problems? What difficulties have been encountered during the development of  #Crypto.com?

User : What’s the story behind the program #TimeForPlanB. You give money almost every week on Twitter, what’s your business model and are you generating enough profits for this

User :  As I am much familiar with using of card visa, mastercard … Or traditional payment card. I have heard about MCO too. It’s good !!But, How can you attract me or like me users when using MCO products like(MCO cards , MCO tokens etc)?

User : I want to build my portfolio as I have large capital but am not pro trader, how can cryptocom help me through the automated quant trading, kindly explain more about automated quant trading

User : What are future plans of #cryptocom for Indian crypto community? Can we use cryptocom VISA CARDS in India?

User : Can you elaborate on the experience of the development team who developed  #Crypto.com? Most of investor just focus on the price of token in short term instead of real value of project. Can you (as  #Crypto.com Team) tell us the motivation and benefits for investors to  long term?

User : 4 Questions I wanna ask..😊😊1- What is the Transaction Speed of $CRO, As its a community token do we can see any further collabs with other exchanges for more adoption?2- What are the beneficial use case for Indians🇮🇳 of $CRO in furture?3-  What’s the  role of #CRO token in project ecosystem?4- When indians🇮🇳 can get Our Credit Cards

User : Crypto com Provides Different types of Metal Crypto Cards! But, Why i can’t able to Order that Cards? Are you don’t provide Card service to India yet? If No, Then any plans for Indian Community?

User : Your metamorphosis is a laudable one, how have you been able to survive this longest bear market and continue building and developing cos many projects have died out in this time periodWhat’s the key strengths of cryptocom?

User : Q- As you launched gift card services for Indian e-commerce platform like flipkart,croma etc how you are seeing this will increase demand for crypto currencies in India where platforms are not in proper working mode due to lockdowns?

User : Question:As a Pioneer of the Visa Card Integration from a BlockChain Company, Do you anticipate that someday, Visa Cards will be the Standard in any Exchange Platforms?

User : What products will be planned or is currently being developed in Crypto and CoinDCX trading market in the next couple of months?

User : Can you tell us some main Benefits & Utilities of $CRO Tokens? What are the benefits of Purchasing & Holding $CRO Tokens?

User : Does  #Crypto.com have any plans to build a Dex ?

User : which is regarding the rates, are we going to be decreasing rates for stable coins? And then second of all, will we be able to reduce the minimum deposit for Crypto Earn?

User : On the homepage, I saw Buy Crypto with 0% Credit Card Fee, how are you able to integrate Credit cards option and how secure is it

User : What is difference between $MCO & $CRO? I’m always confused between two.

User : Last week top DeFi was hacked and fund lost up to 25 billion dollars, how SECURE is the Cryptocom ecosystem, Do you have Insurance Funds and are you regulatory compliance with the countries do your operations?

User : What makes you feel the advantage of  #Crypto.com over other crypto( as BTC,ETH)?

User : How about a marketing update, when is “Time for Plan B” going to be everywhere?

User : Speaking of developments and steps, we’re going to shift to the exchange and talk about the roadmap in terms of margin trading, and then further products like derivatives. How’s that looking?

User : I see there are 2 types of Tokens are there in Crypto com Ecosystem which are CRO &^ MCO ! So, What are the main benefits of these 2 coins & Why 2 Coins rather than single coin?

User : I see, there are many Platforms are available which also provides Crypto Visa Cards ! So, What’s the Difference between Crypto .com Cards & Other platform’s Cards? Why should any user Go for Crypto .com rather than other Platforms?

User : What is the token utility in the ecosystem?  Where will it be used?  Why is it necessary and why should the demand for tokens increase?

User : I discovered that I am unable to do kyc except using the app, would you in the future allow us to do kyc using the website.

User : Except Buy & Sell, Which other Features are provided by Crypto com?  As a Indian User, What are the advantages of Crypto . com to me or any user?

User : Can you tell us Which types of Different services are provided by Crypto .com to it’s Users? Also, What are your Marketing Plans for Attracting More New users Towards Crypto .com rather than other Platforms?

User : I follow your Twitter and recently I have been seeing lots of people receiving MCO CARDS, can you explain more about this cards, how can I get this card in India, how much do I have to pay for it and how secure is it.

User : Do you have any plans for Launching Different Program for Indian Community? Can we Order & Use Crypto .com Cards in India? If yes, Can you explain what are the requirements for Purchasing / ordering Crypto .com Cards?

User : You made your mark in the Blockchain Industry, but what really interest me, is the #TimeForPlanB campaigns.What really is #TimeForPlanB ‘s sole PURPOSE?How did you come up with this idea?

User : Is  Crypto.com easy for new users?  What are the highlights that attract users of  Crypto.com?

User : I see there are 2 types of Tokens are there in Crypto com Ecosystem which are CRO &^ MCO ! So, What are the main benefits of these 2 coins & Why 2 Coins rather than single coin?

User : The use of the Crypto group’s card is a pretty big step for the industry so in the near future we can see what new features of the Crypto credit card? Can you please share some ideas about future plans?

User : How do the Crypto teams feel about the market in the first quarter of 2020? Your comments about the event BTC halving?

User : My question As you know India is at number two in population, so how do you look at India to spread your business?

User : Do you have plans to add a stop-limit function to the exchange? If so, what is the timeline for this?

User : Recently support times are longer than expected. Is this COVID19 related? What do you think about moving support to home based positions? I would apply 🙂

User : Am interested in earning residual income and I saw Earn up to 8% p.a. on your crypto, kindly explain more about this. Is it like the Popular Staking?On a survey conducted online, people said they would use a service if the support was super responsive, how do you rate your SUPPORT WHEN handling issues of users.

User : No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?

User : Are you taking any precautionary measures to hacker will not be able to mislead investors into sending coins to the wrong address and what security features does  #Crypto.com use so that hackers can not get what they want?

User : How safety is the fund that is going to be kept on  #Crypto.com platform? What is the problem of  #Crypto.com?

User : How do you evaluate the support from community ? What is your strategy to marketing and for Mass Adoption ? What message do you want to send to community through AMA to day ?

User : What are the benefits of the partnership between Crypto .com and CoinDCX ? What’s the main reason behind the collaboration?User:Is our funds are safe on #cryptocom?

User : You offer Crypto Loans, Kindly explain more about this, who is eligible for these loans and are these loans collateralized or not. How do you deal with defaulters on loans.

User : Can you briefly explain how the Top milestones that the Cryptocom team aims to execute before the end of this year or going to execute in future, will help them succeed and What Cryptocom may look like in 2020 and beyond?

User : first question. what is the plan for crypto and coindcx to face the pandemic covid19 and control the market? secondly when the whole world is panicking investors will think many times over to invest their money in crypto and that will definitely make the market worse. Does the market guarantee all my assets? whether my assets will be safe? then if I die what will happen to my account and assets? will it be available to my heir? if possible how to? if not then what solution will be given.

User : What problems in Blockchain will  #Crypto.com can solve?card type accompany the staking plan that benefit most the user?

  * Group muted for Eric again*

Ramalingam [CoinDCX] : Woah! That was quick. Thanks community for your participation. I would now allow Eric to pick up the questions and answer them.

Eric [crypto.com] : Wow! A lot of great questions. Thanks for thatLet me select a few and answer them!1. As we know about MCO Visa Cards are now available in UK , USA & Singapore. Do you have any plans for worldwide expansion of these cards?Indeed, our goal is to bring cryptocurrency to every wallet and our VISA card is a key product to deliver on that goal.We will aim to make it available across the globe!After the UK, we are in the midst of launching in 30+ EU markets, and we plan to cover many more markets in the future2. Crypto.com Pay is a great product and love using it. I prefer to use it more than my credit cards for cashback offers right now. Can we expect more intregrations apart from Flipkart and Big Bazaar soon?Thanks a lot for the feedback on Pay. We are expanding the use cases and partners for Pay globally and also in India. We already offer direct merchant integrations for checkout, merchant invoices, Pay Gift card as you mentioned and Pay your friendsBut there is more to come this year! The roadmap is exciting3. How safety is the fund that is going to be kept on  #Crypto.com platform? What if there is a problem of  #Crypto.com? We take security very seriously at Crypto.com. We are the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance.We also have $260M insurance coverage for our customer crypto assetsAnd continuously work with security experts and partners to safeguard our customers’ asset4. My question As you know India is at number two in population, so how do you look at India to spread your business?India is an incredible market!Traditional players are not serving well their customers who are digitally savvy. This presents a big opportunityAs we discussed, recent regulatory clarity is starting to release momentum for one of the largest frontier markets in cryptoIndian players have experienced massive growth in the last couple of weeks and it is just the beginningI also feel there is significant room for synergy between local and global platforms, and that’s why we are here today and working with CoinDCX to provide more value to our customersLet me cover one final question.5. Can you briefly explain how the Top milestones that the Cryptocom team aims to execute before the end of this year or going to execute in future, will help them succeed and What Cryptocom may look like in 2020 and beyond?To realize our vision to bring cryptocurrency in every wallet, there are a few exciting projects we aim to deliver this yearOn trading, we will bring more exciting products to our customers, derivatives, margin trading, fiat in/out and more local experienceson payment, we will continue to roll-out our card in many more markets and will expand use cases and merchant network for Crypto.com Payon finance, we will bring credit products to more markets and build it into our Visa card, we will also launch our own decentralized wallet and add many exciting DeFi services2020 is going to be a big year for Crypto.com and the industry

Ramalingam[CoinDCX] : Fabulous answers there Eric. Amazing set of questions as well.As Eric was kind enough to answer 5 questions, we are extending the prize to all the 5 members whose questions were answered.Congratulations to all. Now with the CRO token getting listed, we have an exciting trading competition that will go live later in the day.Request our community to participate heavily and showcase our support to Eric and the entire team at Crypto.com.Before we end, I would like to invite Eric for his final comments.Eric crypto.com:It was a pleasure to participate in this AMA with CoinDCX team and community today. Thanks for the support!

Ramalingam[CoinDCX] : Thank you Community Members, and thank you admins for helping facilitate this amazing AMA. We are sure we got to learn a lot.

Eric [crypto.com] : Our Crypto.com App is available in India now! Also, we just officially launched our Indian Telegram group yesterday, welcome to join us here https://t.me/Cryptocom_IN. There are some activities going on in the group, participate and get a chance to win CRO :)Follow us on Twitter at https://twitter.com/cryptocom. Don’t forget to check out our Crypto.com University if you want to learn more about cryptocurrencies.Eric crypto.com:Thank you so much CoinDCX team and community! Take care and stay safe everyone!

Ramalingam[CoinDCX] : Thanks, Eric for this great session, Hope to see you around with more exciting news.!Thank you everyone.Since we had limited time with Eric, he couldn’t answer all the questions. If you still think your questions needs to be answered. Please let us know on our official telegram channel. Stay tuned!

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