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MCO - the history of one cryptocurrency

2019-12-30

The rapid development of advanced technologies has led to changes in the modern world. Many blockchain-based projects are working to integrate digital money into real life so that it can be used by humans in everyday life. This led to the emergence of the Monaco platform, which allows any user to withdraw digital money from an ATM, turning it into fiat, and pay for purchases using their Visa card. The unique project is today renamed MCO, although the platform and development team remain the same.

About MCO project

ICO is a truly innovative product, not just a cryptocurrency. This is a unique platform that has a huge set of functions for managing money at home.

MCO is a cryptocurrency debit card that contains tokens. Using the card is possible if there are digital coins on the account, in particular Bitcoins, Ethereum, etc., as well as foreign currency.

The development of a project that would allow the use of plastic cards to work with digital money began in 2016. This is a rather difficult task, since linking to bank debit cards is incompatible with the principle of confidentiality in the use of cryptocurrencies.

A team of experienced developers led by businessman Chris Marshalek put forward a proposal to create a combined type of system that would make it possible to use digital and fiat money, and the user would be able to carry out various operations with their assets in real time: store, convert, and withdraw from an ATM.

Long and hard work has resulted in a high-quality and reliable system that:

supports the most famous and popular digital coins and fiat money;
able to automatically convert when specifying the required amount and currency;
opens up the possibility for the use of cryptocurrencies in any country in the world thanks to plastic cards.
In addition, the development team presented an easy-to-use software product for mobile devices that use the iOS and Android operating systems. The user got the opportunity to quickly manage existing assets, replenish them with fiat, control the balance and receive notifications about their expenses.

Initially, the creators used their own funds to implement the project. At the end of 2016, the first version of the application was already created, which immediately interested cryptocurrency enthusiasts. But in order to deploy the ecosystem, the company did not have enough funds, so it was decided to launch an ICO to attract investors money. This was the only way the project could develop.

The relevance of the project is due to the fact that today a person cannot imagine his life without mobile devices that provide a comfortable life. Therefore, this direction, when the user gets the opportunity to easily and comfortably manage their cryptocurrency assets using a smartphone, is promising. This also applies to payment cards. It should also be emphasized that the project team is trying to open its development as much as possible to everyone who is interested.

Before you start working with the MCO platform, you need to download a special application to your mobile device, which can be found on the official website of the project. Here users can find out everything about the platform itself, software features and updates that are expected in the near future. Also on the official resource there is information about all other services of the company.

After downloading and installing the application on your device, you need to register, which will not take much time. To do this, when filling out the fields, you need to indicate only reliable data so that later there will be no problems during operations. You also need to come up with a username and password, and then confirm the registration. After these simple manipulations, the user gains access to the wide functionality of the site.

For transactions and transfers, the network will ask for confirmation by email. Before carrying out transactions, you need to carefully check all the data in order to exclude the risk of sending money to another addressee.

It doesnt take much time to create an electronic wallet and link a card to it. The mobile application has a convenient notification system that allows the user to always monitor the changes taking place. The unique Token Market Escrow system, which is protected by a digital signature, provides the highest level of investment.

The developers have created a multi-currency platform that allows users to store their assets, convert them using a debit plastic card. It should also be emphasized that the level of transaction fees is very low. The exchange of one digital coin to another is carried out without a commission, and you will have to pay only 1% of the exchange amount for the exchange of cryptocurrency for fiat.

The possibility of using debit cards for settlements with digital money and working with them is relevant, therefore this idea found support not only among ordinary users, but also among investors. Therefore, many cryptocurrency market experts believe that this platform has great prospects for development in the future.

Many disputes arose in terms of cooperation of this project with the Visa payment system, which led to a rapid increase in the value of the coin on the market. For a long time, the platform has been cooperating with Wirecard AG, which is the issuer of Visa cards. This is how the reliability of the MES project was checked so that it would comply with the norms and standards of money circulation.

A little later, the developers of the MCO platform made an official confirmation of cooperation with Visa. This led to a lot of hype around the projects debit plastic cards. It is noteworthy that it was the Visa payment system that put forward a proposal to jointly develop a cashback program.

In mid-autumn 2017, the creators of the platform entered into mutually beneficial cooperation with the best manufacturers of plastic cards and the provision of services for KYC and AML:

Gemalto (production of cards for the Visa payment system);
Thomson Reuters World-Check (user verification process, taking into account KYC and AML);
Jumio (provider of identification systems that include user identification in different ways).
But today other projects are also developing plastic cards for digital money, so the competition in this area is very high.

The question is still open regarding the confidentiality of the use of such payment systems. The thing is that when bank transfers are made, you need to enter certain personal data, which will then be easy to track.

In May last year, an open beta release of the mobile application of the MCO platform was held, and an active marketing campaign was launched. In July of the same year, the company was undergoing a large-scale rebranding, after which the project was renamed MCO.

MSO capabilities

The MCO ecosystem includes the following elements:

A unique MCO Wallet application that is available to users of all mobile devices that run on iOS and Android devices. Thanks to the use of this application, you can store not only the most popular digital, but also fiat money. The program also makes it possible to convert them online.
Real and virtual Visa card, which is tied to the platform application. So users get the opportunity to pay for purchases, change one cryptocurrency for another, pay with digital money where Visa debit cards are accepted.
Coin of the MCO platform. By paying with their Visa debit card, each user will receive a cashback in the form of system coins, the size of which is determined by the volume of the transaction.
You can use the coins of the MCO project for the following purposes:

get cards, the conditions of which will be improved, which is very attractive for network users;
getting a 50% more favorable interest rate on loans if tokens act as collateral for such loans;
the opportunity to vote for cryptocurrencies that will be added to the wallet.
In the future, it is expected that it will be possible to organize an airdrop for those users who will have MCO coins.

How is MCO created?

You can get tokens by investing Ethereum. In accordance with the contract, each investor is rewarded as a percentage of the profits that the company receives.

In accordance with the concept of the platform, it will not work to mine tokens, because such an opportunity is not provided. Therefore, there is no point in buying expensive equipment of high power.

You can get coins by performing various operations or buying them on exchanges and trading platforms without any difficulties, besides, the price of this cryptocurrency is low. Today many cryptocurrency exchanges support the token. Among them: OKEx, Binance, Bit-Z, OKEx, Bithumb, Huobi, Liqui, HitBTC, Livecoin, YoBit and many others.

To a certain extent, this project is underestimated, so the coin is not popular enough.

Any cryptocurrency wallet that supports ERC-20 coins can be used to store coins.

Is MCO infinite?

The emission of the coin is limited and amounts to 31.59 million. As of the beginning of December 2019, there are 15.79 million tokens in circulation.

Strengths of MCO

The main advantages of the platform include the following:

Own debit card. This makes working with cryptocurrencies supported by the platform as simple as possible. Transactions are processed by Wirecard AG (partner of the VISA system). The card is linked to a private bank account. Confidentiality provides protection against unauthorized access to personal information; there is no protection against official card verification. There are several types of cards, the functionality of which is determined by the number of tokens in the users account.
The fastest possible transactions. The developers of the project made sure that the speed of payments was at the level of the VISA system, which allows using MCO tokens to purchase goods using a debit card, as well as conducting exchange operations on the card. Payments for the purchase of fiat money and various types of cryptocurrencies, which are currently the most popular, are made instantly.
Many digital coins are supported. You can buy Monaco for ETH. Also, your debit card can be used to store BTC and other digital coins. This list of cryptocurrencies will become wider.
Payments in cryptocurrency without commission. All payments using the Monaco Card are commission-free, which is especially attractive not only for token holders, but also for investors. Many do not understand what is then the benefit for the platform itself and how it managed to come to an agreement with the VISA system.
Cashback availability. Prepaid debit cardholders receive 1-2% of their purchases to their card. This is done as compensation for the fact that mining the MCO token is not provided for by the project policy.
High level security. The platform databases securely store all user data. But MCO is not a decentralized network, so users do not have the ability to control their personal data, information about transactions and funds on the companys account.


MCO in TOP currencies

In terms of capitalization at the beginning of December of this year, the MCO digital coin ranks 63rd in the TOP 100 cryptocurrencies in the world (according to coinmarketcap.com).