Among about a dozen of other card-issuer candidates, the premier of which is TenX, there is one with a recently hot name.
Monaco.
Their business model doesn’t differ much to the one we already reviewed for TenX. Their biggest selling point, their promise, and the reason the price surged so much lately? They have announced a partnership with VISA to issue cryptocurrency-backed credit cards.
There is a Monaco mobile app that enables users to pre-order various cards. Each of which comes with a different bonus. However, there’s one catch. Each card obliges the user to send at least 50 Monaco tokens and lock them up for at least 6 months. The cards seem to be only a promise at this point which will undoubtedly need some help from VISA to be made a reality. TenX, on the other hand, is already distributing real cards.
VISA hasn’t made an official statement on the matter yet. Monaco has promised to shed light on it sometime this month which should have huge implications on the Monaco coin price.
They didn’t deliver on the last promised date and the price tanked. Many people around the internet claim that Monaco is a scam but there also appear to be hordes of crypto enthusiasts that are bullish on it.
Whether you should invest in Monaco or not, at this point, depends almost entirely on whether you believe the VISA information will pan out to be true or not. If true, the prospects are very bright. If not, the word “scam” will appear alongside every mention of the project for the foreseeable future and the damage will be irreparable.
Read the full report here: https://cryptohydra.com/crypto-reports/monaco-mco/
Disclaimer: This is not investment advice, it is merely an opinion for informational purposes. Investing is a risky matter, people should do their own research and we are not liable for potential losses.
