Monaco, not the city but a payment and cryptocurrency participant, has announced that they have launched the Monaco app. What the application accomplishes is giving every day people a very simple way to purchase, spend, and earn cryptocurrency cash back on transactions made.
With the Monaco card, the application will be set out in September along with the application. The platform itself is based on interbank exchange rates. It also hows users to save. How much will they save? Well, according to reports, users can save up to eight percent on all foreign currency transactions.
This major milestone will allow general market participants to purchase as well as trade cryptocurrency with ease. Quite literally, users will have the ability to do all of this right at the tips of their fingers.
Five major cryptocurrencies, cards will be unveiled. The currency cards include Ruby, Steel, Rose Gold, Space Gray (a platinum metal card) as well as obsidian black, which is a limited edition platinum metal card. Essentially, Monaco cards will be free (including the platinum ones) and therefore a monthly fee will be inexistent.
There will also be no annual fees, no shipping costs involved, and on top of this, all Platinum cars will come with an industry leading 0.75% cryptocurrency cash back on all purchases. Additionally there will be five hundred thousand dollars of travel insurance included with the cards.