Crypto.Com Review: Everything You Need to Know About This Major Crypto Hub
Intensively promoted through advertising campaigns and the sponsorship of sports teams and events, Crypto.com has gained a huge amount of attention from the general public. Once recognized mostly by crypto enthusiasts, Crypto.com is now aspiring to become a global leader in both the decentralized finance industry and the entire cryptobusiness domain. Today, Crypto.com is a well-organized hub for people’s dealings with cryptocurrencies and related finances.
Crypto.com Domain Sold After 29 Years
Although you might have seen it a year or so ago on jerseys worn by Lionel Messi or Joel Emdiid, the Crypto.com domain has in fact been registered for full 29 years! Matt Blaze, a professor of computer and information science at the University of Pennsylvania, initiated the genesis of the domain in 1993, which has attracted a vast amount of interest since the explosion of crypto in recent years.
The domain was not for sale until the perfect buyer had arrived. Kris Marszalek, a Polish crypto entrepreneur based in the Far East and the founder of Monaco (MCO), a company once known for being among the first to issue a blockchain-based debit card, cashed out an undisclosed amount of money for the domain. Unconfirmed rumors estimate the transaction was worth 10 million dollars, but the general impression is that it was worth every penny of it.
Monaco: ICO, MCO, Visa Prepaid Card
When Kris Marszalek founded his company in 2016 and branded it ‘Monaco’, he immediately stuck out among his startup peers when he made the following statement: “If you are a founder starting on your journey to help build Web3, remember this: You don’t need VC money!”. He was right – the ICO (Initial Coin Offering) substituted the role of VCs and helped Marszalek raise $25M, which quickly inflated to $200M.
The above statement was characterized as ‘bold’, but soon after, it became obvious that boldness was one of the key features of both Kris Marszalek and his entire endeavor.
Digital technology has made our world more transparent and interconnected, posing new challenges and opportunities for every business. A holistic, user-centric perspective is what truly sets one apart.
Back in 2016, only a handful of crypto enthusiasts knew about Monaco, the predecessor of Crypto.com. Devised as a crypto payment platform, Monaco was one of the first companies to offer blockchain-based debit cards. The MCO Visa prepaid card helped the customers buy and spend cryptocurrency easily, while the MCO wallet and cash app allowed them to manage and buy cryptocurrencies on their smartphones in a streamlined and efficient way.
The cards also offered free ATM withdrawals, tap-and-pay features, no annual fees or minimum balance requirements, up to 5% back on all local or overseas spending, and free shipping.
In 2018, the company was re-branded to Crypto.com. This was the moment when the mass markets started to hear about it.
Making sponsorship deals with various sports clubs and events (Philadelphia 76ers, Paris Saint-Germain soccer club, Formula 1 racing tour, etc.) heavily raised the project’s global brand awareness, which Crypto.com additionally boosted by sponsoring one of the globally most cherished sporting events – FIFA 2022 World Cup soccer championship.
Crypto.com also closed a multimillion-dollar deal with the Los Angeles Staples Center to rebrand it to Crypto.com Arena. The deal worth $700 million will secure the rights to keep the Crypto.com name on the arena for the next 20 years. It represents one of the most significant sports investments made by a crypto company.
How Does Crypto.com Work?
First, we have to emphasize that Crypto.com is neither ‘a crypto website’ nor (just) a crypto exchange. It is a comprehensive cryptocurrency hub that consists of many different, yet compatible and interoperable services:
- Crypto.com App allows you to buy over 250 different cryptocurrencies and manage your Crypro.com Visa Card.
- Crypto.com Exchange is a frequently visited digital marketplace where users can buy and sell cryptocurrencies.
- Crypto.com NFT users can review NFT artistic collections made by various artists (and brands) of all profiles, while also allowing users to buy NFTs using just their payment card and to sell their collectibles in the Marketplace.