Digital currency has firmly entered our life and took a special place in it, trying to squeeze out the usual banknotes. The most popular cryptocurrency today is bitcoin, and it is also the most expensive. But now there are more than a thousand types of digital currencies, their number continues to increase, and we have a lot to choose from.
The main thing to remember when working with cryptocurrency is that it is not a legal tender and is not supported by the government. Accounts and balances of digital currencies are not subject to the activities of a deposit insurance agency or any other form of government protection.
The idea behind the MCO cryptocurrency is to create conditions for safe financial transactions both in the digital system and in everyday life. The coins are located on Monaco, a decentralized blockchain-based parent platform.
Monaco (MCO) is a new generation digital currency. Monaco is difficult to categorize as a standard cryptocurrency, as it is a complete standalone platform with broad functionality. MCO users can perform operations with cryptocurrency in everyday life, be it an online store, paying for purchases offline, selling, exchanging cryptocurrency and money we are used to.
Monaco developers are trying to increase the popularity of using cryptocurrencies in everyday life. To do this, in cooperation with VISA, they developed the Monaco Wallet plastic card, which allows you to pay for goods and services with both fiat and digital payment means, which, you see, is very convenient.
The future plans of the creators include automatic conversion of funds on the card into the required currency, be it bitcoin or dollar.
In 2016, a team of specialists led by Chris Marshalek, using their own funds, created the Monaco project, in which the possibility of using cryptocurrencies was combined with the use of ordinary currency. At the end of the same year, the first MCO smartphone app appeared.
In 2017, an ICO was held in order to attract investors, for whom the possibility of combining the functions of an ordinary payment card and cryptocurrencies turned out to be interesting.
Monaco is headquartered in Switzerland, has two strong development teams in Hong Kong and Singapore, and currently employs over 130 people. Most of the participants and creators of Monaco can be found on social networks and on thematic forums, where they actively participate in the discussion of the project and can receive timely feedback aimed at improving the site.
It is quite difficult to talk about the popularity of Monaco, especially if we compare it with bitcoin, which both children and adults now know about. Of course, Monaco is not so famous, one of the reasons is the impossibility of mining, and the bulk of the crypto market users are miners. Due to the low popularity of the currency, it is almost not supported by exchangers, and therefore the best option for buying an MCO is large exchanges.
However, the ability to use a debit card significantly increases the level of demand and popularity. Instead of mining, it was proposed to distribute part of the companys profits among the MCO members, and currently there are about 9.8 million coins in circulation. In addition, Monaco also has a BG50 referral program, according to which the participant receives a link and passes it on to a friend. If a friend, following the link, signs up on the platform, both receive $ 50.
The main advantage of any cryptocurrency is the ability to make confidential non-cash transfers and the ability to use it as an investment tool. If we talk about Monaco, this is a rather promising project for investing finance: in January 2020, the cost of one MCO coin was USD 4.74, the capitalization level was USD 74.8 million.
In addition, the Monaco card, which can be issued on the official website, is convenient to pay while traveling, given the favorable terms of use.
All information on transactions in the MCO is stored directly on the platform itself. The project ensures the efficiency of payments at the same speed as Visa, all purchases (both cryptocurrencies and goods in ordinary stores) are carried out instantly. Internal transactions are free, the exchange takes place at the rate at the time of the transaction.
There are no restrictions on the minimum and maximum amounts of storage on the card and conducting transactions, however, for free withdrawals from an ATM, a one-time limit is limited to 200 USD. There is also a limit for transfers between banks, it is 2,000 USD.
To get a card, it is better to leave an application on the official website. If necessary, you can temporarily use exchange wallets.
It is important to note that the company receives money from merchants whose goods are paid for with a Monaco card; the processing fee is usually 3-4% of the transaction, ie. Monaco makes money when the customer uses the card, but it makes money not from the cardholder, but from the merchant.
Considering the provision of the card with cryptocurrency, there are no problems when crossing the border, as well as when using it. During the first purchase in another country, the card account is automatically attached to the local currency, and all purchases are made at the current exchange rate.
The card provides a 2% refund in the form of MCO tokens, the size of the cashback will depend on the efficiency of Monaco.
Cryptocurrency definitely has a lot of potential. Monaco pioneered collaboration with VISA, even though this, according to some users, contradicts the very essence of cryptocurrency. However, VISA has a proven system of work and market dominance, so cooperation is quite expedient.
For MCO, further growth and success of the platform is predicted, as well as the possibility that the project will gain a sufficient number of participants and take a solid position in its niche. Now it is possible to purchase it on more than 10 exchange crypto markets.
Speaking about the prospects, it is worth considering the shortcomings of this cryptocurrency, which include, first of all, the initial stage of the projects development, which does not allow quickly expanding the user audience, as well as the lack of a clear development plan.
It is quite possible that in a couple of years the MCO token will become one of the most expensive digital assets, so for fans of long-term investment MCO is quite an interesting option.
Monaco has created an entire ecosystem with the help of the capital raised in the ICO, which includes the Monaco Wallet application. The application is available for devices that support iOS and Android, among the advantages - support for the most popular cryptocurrencies and fiat, as well as conversion in real time.
Monaco VISA is both a physical and virtual card linked directly to Monaco Wallet. The cardholder gets a unique opportunity to make purchases and exchange cryptocurrency where the usual VISA card systems are accepted. At one time, Monaco had difficulties with the implementation of the card, and a team of specialists spent more than six months deciding how to issue the card so that the legislation of the countries would not be violated. As a result, they successfully coped with this, and at the end of 2017 they signed contracts with Gemalto. Gemalto is responsible for the production of plastic cards for VISA by Thomson Reuters World-Check, a user verification firm, and Jumio, an identification system provider. Last but not least, a partnership with VISA was officially signed, which caused a lot of excitement and a rise in MCO coins by almost 700%.
By the way, an interesting fact: VISA itself made a proposal to develop a cashback system.
The obvious advantages of the Monaco platform application include support for the most popular types of cryptocurrencies, versatility and convenience of the application user interface. Additionally, we are pleased with the conversion of funds in real time and a minimum commission in bitcoin or Ethereum, as well as transactions in more than 120 countries. The notification system in the application allows the user to be always aware of card and account transactions.
The company focused on the development of the project first in Asia, now it is working with the US market, then there will be the European Union and Canada.
The app is currently available in over 70 markets. Not everything is so simple with our country. The Deputy Minister of Finance said in 2017 that "it is probably illegal to accept payments in cryptocurrencies." There are sites of bitcoin markets blocked by a court decision, where it is said that bitcoin is a currency surrogate banned in the Russian Federation.
And, nevertheless, it is worth considering that the lack of new users, the paucity of information about cryptocurrency and the technical difficulties of using digital money have not yet stimulated interest in cryptocurrencies from users, which means that you can buy crypt at quite favorable prices. Time will pass, the legislation of countries will adapt to cryptocurrency, technical methods for its use will be introduced and prices will go up. This has already happened with personal computers, the Internet and many other innovative technologies that have become familiar to all of us. Monaco has already taken the first step.
Added: 30.11.1999 
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