<HONG KONG, June 17, 2019> - Crypto.com, the pioneering payments and cryptocurrency platform, announced today that it has listed Cardano’s ADA to its App.
Cardano is a ground-breaking proof-of-stake blockchain network and cryptocurrency project that will become capable of running financial applications used by individuals, organizations, and governments in everyday life. Cardano, the world’s first third-generation open-sourced decentralized public blockchain, is the first platform developed for smart contracts using a scientific philosophy. Its ADA Token can be used to send and receive digital funds.
With ADA added to the Crypto.com App, users can now purchase ADA at true cost with no fees - credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to ADA as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.
Kris Marszalek, Co-Founder and CEO of Crypto.com said: “The addition of ADA on the platform opens up Crypto.com to Cardano’s wide community of users, we’re excited to become the place where they can purchase ADA at true cost.”
Strange no one commented on this. I think this is pretty big announcement. Or am I wrong? Was waiting for some easy possibility to purchase ADA with EUR directly. Although after some research of crypto.com I found it a bit strange. Lots of bonuses they offer, no fees, so I wonder how they can afford it and what is their business plan…
Anyone has any experience with them?
it is big. cf retweeted it. and they rarely do that. i pushed this through myself. so the other guys didn’t know about it till we announced it. best to keep things on the d.l. and not over-hype it.
it is a direct fiat to crypto on-ramp. they run a trading group for their constituents.
I bought some ADA using the Crypto.com app on IOS just to test it.
The problem is that you can’t withdraw your ADA from Crypto.com to an other wallet (Yoroi).
There is a message that this will be available in the future.
For now my ADA is sitting in the Crypto.com wallet
Thanks @Micro86. That’s just like Metal Pay and Robinhood Crypto. They aren’t fully functional wallets. It’s more like buying and holding stock. You can’t do anything with it but sell it.
" I found it a bit strange. Lots of bonuses they offer, no fees, so I wonder how they can afford it and what is their business plan…"
Very good point! I have the exact same feeling.
How can Crypto.com deliver 12%P.A. on MCO (8%P.A on BTC) when they barely have any income?? Or am I missing that part completely?
Additionally I received over 7 CRO Airdrops, totaling 1846.71CRO.
Those airdrops I received ‘holding’ my 50 MCO tokens to unlock my ‘VisaCard’.
Which has been unlocked for almost a year now… rollout clearly didn’t started yet in Europe…
I find it difficult retrieving forecasts, let alone, general info on these matters…
My 1846.71 CRO tokens currently value 66,50 Euro, while my 50 MCO tokens are currently only worth 152.09 Euro. That ratio (I received 1/3 of my input value for free…?) seems out-of-this-world to me.
I’m a participant in Crypto.com for a while now, but their transparency/communication is insufficient!
Combined with, as you said, the ‘no-fee’, ‘8%P.A. interest on BTC lending’ & ‘CRO airdrop’ policies, how can this all be sustainable???
I hope someone is able to share some insights and/or educate me on the Crypto.com matter. Thanks!
Yesterday I traded my little bit of ADA that was on Crypto.com for BTC and got it out of there.
Send my BTC to Bittrex and traded it back to ADA, now my ADA is save on the Ledger nano
to my Yoroi wallet?
