Monaco is an incredibly valuable platform that permit users to maintain multiple cryptocurrencies and fiat in an account at zero cost. This platform is aiming for a simplified online banking services that offers access to VISA payment debit cards and can be used at any shop. The company’s ambition is to fill the wide gap between cryptocurrencies and its usage on real-time basis.
Here, the risk of losing money is completely eradicated as recognized banks are responsible for exchanging currencies at real rate. Furthermore, you can earn MCO cryptocurrency token that is owned by Monaco by using one of the cards of company at a cost of 2% cashback on all transactions.
MCO Tokens: They are Monaco cryptocurrency tokens based on Ethereum that can be earned by users in the form of cashback, every time they use their Monaco card.
Users Can Save Money Via Monaco
At Monaco bank, users can start saving their money by creating a Monaco account at zero cost and at the same time, users can bail themselves out from monthly fees as well as maintenance of minimum balance requirements.
If users are dealing in multiple currencies, then they can save on every transaction that involves any exchange rate. How? Monaco provides exchange rate on real time basis instead of regulating the exchange rate to work according to the requirements. Bearing in mind that the regular high street bank will charge between 5% to 8% on each transaction with exchanges, this can sum up to substantial savings.
With the use of Monaco’s cryptocurrency token MCO, users can avail the benefit of 2% cashback on all purchases. If users use MCO for bigger transactions, they can add up to large amount in no time.
See Also: 5 Cold Wallets That Ensure Crypto Safety
Is Monaco For Everyone?
Though the platform is available for everyone but Monaco, in particular, is targeting travelers. Evidently, frequent travelling is accompanied with costly tickets and extra fees, making the overall trip expensive. Monaco card, on the other hand, that describes itself as a local currency and charges no fees can offer finest interbank exchange rates. No matter where you go or stay, with Monaco you can save tons of money and travel with ease.
Talking about the benefits of Monaco, apart from best conversion rates and reasonable purchasing cost, they offer cashbacks, which is currently not available with any other cryptocurrency banks and wallets. Users involved in buying, earning and purchasing activity are realizing the advantages of Monaco. This platform can also be extremely beneficial, if users are transferring and receiving money at interbank rates. Because the process of transferring amount is instantaneous and straightforward and is available at zero fees.
Monaco and Its Wild Possibilities
The Monaco bank performs transactions in the same manner as any other bank or card. Once the users create their account on Monaco, they can save, purchase or exchange currencies as well as various cryptocurrencies with ease via their account.
Just like a regular bank account, users can manage their account using debit card or credit card. The only difference between them is that Monaco bank allows you to trade in cryptocurrencies as well and every exchange is done at zero cost.
They have their own application for convenient and secure transfer of money and cryptocurrencies and is available on both iOS and Android. As mobile banking is activated, users can get instant notifications about the transaction on their smartphone. Hence, the chances of losing money decreases and users can escape from any fraudulent activity. Apart from that, the bank provides their users with weekly or monthly budget tools to manage their account.
Users can purchase one of the several Monaco cards depending on their need.
Midnight blue: The basic one that doesn’t require any purchase of MCO but offers all the basic features like zero monthly and annual fees and card’s free shipping. Also, the card can be used for free ATM withdrawals up to $200 and the limit for interbank exchange rate is $2,000.
Ruby Steel: This card is metallic in nature and is available in limited edition. To acquire this card, a minimum purchase of 50 MCO is needed. The limit for free interbank exchange rate for this card is $4,000 and it charges 0.5 percent later. The limit for free ATM withdrawals for ruby steel card is $400, charging 2 percent after. Further, this card offers travel insurance coverage of $500,000 along with 1 percent cashback on each purchase.
Precious Metal card: The limited-edition Monaco card is made from metal and demands the acquisition of at least 500 MCO. The interbank exchange rate limit and free ATM withdrawal limit increases to $10,000 and $800 respectively.
Obsidian Black card: Another metal card with limited edition that doesn’t have any limit on interbank exchange rates but ATM withdraw limit increases to $1,000. A total of 999 cards are available in market for sale and it at least require 50,000 MCO.
People, who are frequent travelers, manage multiple currencies and are involved in regular transactions, Monaco is the best platform available for them. Since, it is a VISA card, it is accepted everywhere in the world giving its users a less stressful journey. Its simplified and convenient application further adds charm to its platform.
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