Project and cryptocurrency Crypto.com: brief overview, features and prospects of development
Project Crypto.com It is aimed at expanding the use of cryptocurrencies. For this purpose, a plastic card has been developed, with which you can pay not only with fiat money, but also with crypto. The platform has received support from such a major financial market player as the Visa system.
Cryptocurrency Crypto.com: history of creation
Crypto.com as a project (at first it was called Monaco) began to develop in 2016 by a team of experienced programmers (Chris Marshalek, Rafael Melo, Gary Ohr and Bobby Bao), who previously participated in various cryptocurrency developments.
Its purpose was designated as the creation of a plastic card that can be used for payments with both crypto and fiat money.
In 2018, a rebranding was carried out, and the project became known as crypto.com . Despite all the difficulties, the MSO plastic card was issued. Now the ecosystem of the platform includes:
- a cryptocurrency wallet linked to a plastic card;
- cryptocurrency exchange;
- mobile application;
- the project of non-interchangeable tokens (usually they are used for digitization of art objects and other unique objects);
- decentralized financial services.
Inside the platform crypto.com The MSO’s own cryptocurrency operates, but this is not the only token of the project. At the end of 2018, the CRO token appeared, running on the Ethereum platform with high transaction processing speed. The token can be used for
The platform’s cryptocurrency wallet is automatically linked to plastic cards issued jointly with Visa. The partnership with Visa is the first example of cooperation between fiat payment systems and crypto developers.
When paying with a card for goods and services, users receive cashback of up to 2%. The card is debit, but in the near future, according to the assurances of the developers, it will be possible to receive loans in cryptocurrency on the card. The card is delivered to Singapore, the UK and the USA. It should appear in Europe soon
Features and characteristics
Due to the features of the platform, mining of Crypto coins is impossible in any form. In March 2020, a “soft staking” system appeared. You can receive cashback for storing a certain balance on the card account.
Cryptocurrencies Crypto.com: where to buy
The main part of trading is carried out on the Upbit and Bittrex cryptocurrency exchanges. The popularity of tokens is not very high yet.
You can exchange tokens for bitcoins on the internal exchange of the project (the name matches). But you can only exchange cryptocurrency.
Cryptocurrencies Crypto.com: price forecast and development prospects
It is impossible to make an accurate forecast of the development of any cryptocurrency. The volatility of the crypt is high, and the competition in this area is quite high. At the moment, there are only two projects whose success no one doubts: bitcoin and Ethereum.
A feature of the project Crypto.com it is possible to get a plastic card that simultaneously works with fiat and crypta. But the very concept of connecting fiat money and cryptocurrency is not new. Many teams are working on this idea.
While the platform’s blockchain network is working in test mode, and it is impossible to say when its final version will appear. Currency tokens have development potential, but so far they are traded on a small number of cryptocurrency exchanges. In particular, they are not on one of the most popular Binance sites. And the forecasts of analysts and experts of the cryptocurrency market do not include Crypto in the top coins. According to the most optimistic forecasts, the value of the coin may reach $ 1.5, but most likely it will be much lower. At the moment, the chart of the cryptocurrency exchange rate Crypto.com Coin (CRO) looks like this:
Cooperation with the banking sector has both pros and cons. In particular, it will be impossible to maintain the anonymity of users.
Published: 7 January, 2022
