About MCO

MCO Coin Review: Mining Guide, Price & Analysis of MCO Cryptocurrency

MCO token is the cryptocurrency that powers the Crypto.com ecosystem. Crypto.com is a cryptocurrency company that seeks to stimulate the mass adoption of cryptocurrencies. To do this, they have a number of products in the cryptocurrency space. All the products operate on one blockchain.

This is quite a lineup of products. Many people may argue that this defeats the mission behind cryptocurrencies and blockchains. A company that seeks to provide all these services are at the risk of becoming centralized. However, Crypto.com believes that this is necessary to support all the services that users need.

All these services run on MCO network. The MCO Visa Card is a core aspect of the crypto.com ecosystem. It takes cryptocurrencies and puts them in the hands of the public. Hence, it is an important tool in stimulating mass adoption of cryptocurrencies.

How MCO Cards Work

MCO Visa Card is a tool for bringing cryptocurrencies to the hands of the public. There are several distinct cards on the MCO ecosystem. Each of these has its own benefits depending on the number of CRO tokens you stake. These cards include the free card, the Ruby Red Card, the Jade Green card, Ii White Card and the Obsidian Black Card.

The free card is the bottom tier. It offers users the smallest number of perks. The highest tier requires users to stake 1 million CRO tones. This is approximately $150,000. All the benefits of the higher tiers include the benefits of the lower tiers.

To ensure usability, Crypto.com has an entire service dedicated to helping users spend their CRO. They have a number of companies in their pay program. This includes more than 300 brands and 300k shops. You can use your card in more than 30 countries. Moreover, some of these brands and shops offer cashback options. This ranges from 1-10%.

MCO and CRO Tokens

Crypto.com has two different tokens in their ecosystem. These include the MCO token and the CRO token. Both of these tokens have different uses in the system.

The MCO token is a utility token to power the operations of the Crypto.com ecosystem. It is usable as a reward on purchases by users, staking and to pay for referrals.

The CRO token, on the other hand, is the payment coin. Users can use this coin to pay for goods and services in supported shops and merchants. The developers achieve this by allowing for the conversion of cryptocurrencies to fiat at a reduced cost. Additionally, holders of the CRO can stake their coins to earn a reward.

Can Investors Mine MCO Coins?

No, investors cannot mine the coins of the Crypto.com ecosystem. The system uses a Proof of Stake consensus mechanism. Here, you have to own a set minimum number of coins to become a validator. Validators help maintain the security of the network. They do this by confirming transactions on the network. Therefore, not anyone can become a validator.

Many people think that the Proof of Stake consensus is a more secure system than the Proof of Stake. This is because such systems are immune to 51% attacks. The validators of such a system have a stake in the network. Therefore, it makes no sense to perform a 51% attack in a network in which you have a stake. However, Proof of Stake networks at the risk of centralization as validators are very few.

Further, the Proof of Stake proves to be faster than the Proof of Work consensus. It also requires less computational power. This makes an efficient and fast network.

The Team behind MCO

The management team of Crypto.com is in charge of keeping all projects running. As it stands, they are doing a great job in spearheading this project. This is because they have a team of well-experienced individuals to ensure things are running smoothly.

The co-founder and CEO is Kris Marszalek. He is a serial entrepreneur in Southeast Asia Internet Industry. His involvement in founding in the tech space gives him tons of experience to lead such a project successfully.

Another co-founder is Gary Or. He is a hacker, product designer and entrepreneur. He is a ten year veteran of full-stack engineering focusing on Machine learning and Artificial Intelligence. He serves as the CTO of the company.

The other co-founder is Rafael Melo. He serves as the CFO of the company. He has over 15 years’ experience in finance. Previously, he was the CFO at Mobile Payment Solution; a MasterCard incubated technology company.

Privacy and Security

Crypto.com is doing a great job of protecting its systems from hackers. They have a team of cyber security experts that continue to innovate in order to keep the network completely secure. The ecosystem works on a blockchain network. The blockchain comprises of decentralized nodes.

These nodes work together to keep the network secure. Moreover, there is no central database to attack. Additionally, the nodes on the network help each other recover in case of a successful attack.

On top of this, there are several more security layers. The developers have in place multi signing on their wallet. This proves to be as reliable as ever with time. Additionally, they perform code auditing to ensure there are no vulnerabilities. Further, they offer security bounties and penetration testing programs.

Privacy is also taken care of in Crypto.com platforms. They ensure their systems are safe from snooping and censorship.

Our Take on MCO

The MCO exists in an ecosystem led by experts in technology and finance. The mission to bring cryptocurrencies into the hands of the public is very exciting. People will finally be able to pay for goods and services using their cryptocurrencies easily and securely.

This will finally get rid of middlemen in transactions. There will be no need for centralized institutions to process transactions. This comes with a lot of economic and social benefits. Moreover, it serves the original intention for cryptocurrencies.

However, there is a risk of centralization. This is because a central institution will issue cards.

How to Buy MCO Coins

If you are looking to add this coin to your portfolio, the easiest way to do it is by buying. You can purchase MCO coins from various exchanges. Some of the best exchanges to use include Huobi Global, OKEx, Bitfinex, BitZ and Bithumb. This coin ranks 1663rd in market cap share, and the current price is $2.68.

Remember, this is the utility coin. The CRO coin is the one that is usable in paying for goods and services. You can buy the CRO coin on various exchanges including Huobi Global, HBTC and OKEx. The CRO coin ranks 22nd in market cap share. Its price stands at $0.057877 at the time of writing this.

Final Verdict

MCO and CRO coins seem like a good investment. They have proved to maintain their value in the market over time. The ecosystem comes with a value proposition that is easy to get behind. However, not all people will like all the features.

For example, there is a risk of centralization. This is because a central institution issues the MCO Visa cards. All in all, this is an ecosystem to keep an eye on. Moreover, the CRO coin is still one of the best coins in the market.