After cryptocurrency became a buzzword, crypto credit cards became a topic for discussion. Bringing cards to the market would be a milestone in the adoption of cryptocurrencies. The card is like any other debit and credit cards, so you can use them in an ATM or at a Point of Sale. The only difference is that in this case, funds come from your crypto wallet, not a credit line.
Crypto credit cards allow for convenience. Anyone can spend their crypto whenever they need it as is the case with fiat currency. Secondly, with these credit cards, one does not need to keep thinking about exchange rates. These advantages make cryptocurrency credit cards able to change how people feel about digital and virtual currencies.
If you sign up and make a deposit on Crypto.com with the following referral code, you will get $50 credit. Use the following referral code – RGU2J8M7W6
Based in Zug Valley, Switzerland, Crypto.com is creating a service on the MCO (Monaco) platform that will solve usability and accessibility challenges for the blockchain industry. The domain was first registered in 1993 by a cryptographer, Matt Blaze who for a long time declined to sell it. Monaco recently approached him, and he agreed to sell.
With the domain, the company is rebranding with a goal to speed up the transition to cryptocurrencies for the world. Products included in the rebrand are such as the wallet app, token, crypto invest service and the visa card. Crypto.com will offer a credit card solution for holding fiat, crypto and other currencies. It will also have a U.S dollar tether.
How the USDM works
There is nothing like stable money. Even fiat is subject to inflation and a shrinking purchasing power. However, people hardly notice because the fluctuations are small, so the money is still usable for day to day purchases. The changes amplify when it comes to cryptocurrencies making them impractical for daily use.
Note that volatility fuels the use of the crypto like a speculative asset, but it limits its use as an exchange medium. To trade in the monies, a tether must come into play. USDM is a stable coin created to be stable enough to give owners an incentive to spend instead of holding tokens. Simply put, the tether has a fixed price against fiat; in this case, the U.S Dollar.
With USDM you can lock the value of your asset in USD. The user gets to estimate when they have profited from their asset, and when the market might fluctuate. One USDM is tied to one USD, and it is tradable against BTC, ETH, MCO, and BNB. You cannot transfer your account to an external address.
Register for the crypto credit card
You can sign up for a credit card at Crypto.com. You get a six-month holding period during which your deposit is locked in. The cards come in different categories, with varying benefits like cashback rebates, access to LoungeKey airport lounges, cashback on Spotify, VISA metal card, a free dollar ATM limits, and card cash back. MCO Visa Card tiers include:
- Midnight blue – This card works like an entry-level prepaid Visa debit card. There is a maximum withdrawal amount of $200, but you can exchange up to $2000 with interbank. Past that amount, you pay 2% to withdraw on an ATM and 0.5% in interbank fees.
- Ruby steel – This card is staked on 50 MCO. You qualify for the prepaid card with 1% cashback and a limit of $400 ATM and $4000 interbank. You get a 0.2% wallet cashback and a 10% referral bonus. After referring five friends, you get $20 and 50% off your investment fees.
- Royal indigo – staked on 500 MCO, you get higher card cashback rewards (1.5%) and wallet rewards (0.4%). The limits go up to $800 and $10000, and the referral fee gets to 15%. You get $40 each for ten friends and access to LoungeKey airport lounges.
- Icy white – The card is staked on 5000 MCO and gets you 1.75% card cashback rewards, 0.8% wallet rewards, 20% referral bonuses and $80 for every one of 50 friends. You can invite a friend to the lounge.
- Obsidian black – with 5000 MCO, you qualify for this black card and a 2% cashback reward. You also get 1% wallet rewards and a $1000 limit on transaction fees in ATMs and limitless interbank charges. Your referral bonus maxes out at 25% earning you $100 each for 100 friends.
Crypto.com will also be airdropping CRO every month to all eligible MCO token holders. 166 666 666 CRO will be given away every month to members based on their ownership, relative to the total token supply.
If you sign up and make a deposit on Crypto.com with the following referral code, you will get $50 credit. Sign up through the link ur use the following referral code – RGU2J8M7W6