Crypto.com has reached another milestone on the road to mass adoption of cryptocurrencies. From May 15, Visa MCO cards will be sent to 31 European countries. Thus making the company the only supplier offering its cards crypto/ fiat in Asia, the entire European Union and the USA.
In addition, Crypto.com increased the amount of its insurance guaranteed by Lloyd’s Syndicate (an association of independent insurers) from USD 100 million, to USD 360 million. In addition to new features and increased security, Crypto.com has also prepared two surprises for its users – but about this at the end of the article.
MCO Visa card from Crypto.com
The Visa MCO card first hit the market in Singapore in 2018. Today the card can be used in Asia and the USA, as well as in all European markets. In practice, this means that another 530 million people will have easier access to cryptocurrencies.
It is worth recalling that cardholders can enjoy numerous bonuses and rebates from the mere fact of having a card. For example, by issuing fiat currencies, we can receive up to 5% cash back in cryptocurrencies. Due to the pandemic, the amount of money returning to cryptocurrencies on our account has been increased to up to 10% for metal cards and up to 5% for plastic cards.
Crypto.com offers 5 different cards with no annual or monthly fees for their possession. In addition, selected cards give a 100% discount on Netlix, Spotify and Amazon Prime, as well as access to airport lounges. To this we add zero commissions for withdrawals at ATMs, contactless payments and attractive commissions during currency conversions.
$ 360 million insurance at Lloyd’s Syndicate
In 2012, Crypto.com secured a $ 100 million insurance contract with Lloyd’s Syndicate. May 11, the company announced on its own blogthat the insurance amount has been increased to USD 360 million. This will contribute to a drastic improvement in security for all, over 2 million platform users who are protected against loss and destruction of property, as well as theft as a result of third parties.
This is another huge step towards mass adoption of cryptocurrencies. According to Forbes report of all kryptowaluty, whose total capitalization oscillates around USD 250-300 billion, only USD 1 billion is insured. Unfortunately, this leaves a lot of room for maneuver for criminals whose activities in 2019 resulted in losses of USD 4.5 billion worldwide. However, according to a recent study that Crypto.com conducted with the Economist Intelligence Unit (EIU), security concerns are a barrier to wider adoption of cryptocurrencies for nearly 1/3 of respondents.
ICON listing and $ 500,000 in ICX with a 50% discount
On the occasion of listing the new token on the platform – ICON (ICX) – Crypto.com decided to organize a promotion in which the equivalent of tokens worth USD 500,000 with a 50% discount is up for grabs. The listing will take place on May 26, 2020.
The rules for participation are similar to those for promotion on the occasion Halvingu Bitcoin. The maximum allocation of ICX discounted prices per participant will depend on stakeCRO tokens:
If the total value of all contributions exceeds the number of tokens intended for the promotion, the allocation for each participant will be calculated according to the following formula:
You can read more about the promotion here: LINK.
Win a Tesla Model S car
Register on the Crypto.com Exchange and win the Tesla Model 3, or daily prizes up to the equivalent of $ 1,000 in BTCuntil the end of May.
Contest start: Wednesday, May 13, 2020, 07:00 UTC
End of competition: Friday, 12 June 2020, 00:00 UTC
To participate in the competition, all you need to do is register on the Crypto.com exchange (using this instruction you can additionally receive $ 50 for registration), and then:
- Take part in the draw where one lucky user wins Tesla Model 3 or equivalent in CRO tokens;
- Take part in the daily draw in which one lucky user wins the equivalent of $ 1,000 in BTC each day.
To collect your rewards you must meet the following requirements:
- Deposit cryptocurrency (or cryptocurrency) for a total amount of a minimum of USD 1000 (the amount is converted at the time of deposit);
- During the promotion, make at least 10 transactions on the exchange;
- Stake at least 10,000 CRO tokens.
You can read more about the competition here: LINK.