I’ve just installed the new Monaco App Update on my iPhone, described as Bugfix-Update. It seems the „bug“ was the Travel Insurance, it‘s removed now.
Okay cool -- things are looking good! I can't wait to get my Monaco Elite Card! Need to try to save 50,000 MCO so i can get the black card.
Cool? That was meant ironically, Monaco has canceled the travel insurance, that's the next point they have cancelled. Definitely not cool, I'm waiting for an official statement now!
Depends on how much you are willing to pay for the card? If the cost out weights the reward? I honestly don't opt to pay for Travel Insurance but either way its going to cost you one way or another whether through profits or the card costs? Plus the rules are often misleading with travel insurance.
I like the 1%-2% cashback, the metal sleekness of an elite card (status symbol), airport luxury lounge the ability to transfer my crypto to fiat and any other crypto on the fly. The ability to pay in Visa and it automatically takes payment from my crypto account without me having to worry about it.
Sorry but I reviewed all the cards and this one is the one i'm loving travel insurance or not. Not only that but as a token owner i also get the benefits of the program built in. This just makes the most sense for anyone who has crypto and wants to go shopping or travel.
I'm sure Monaco will add perks as the name becomes more and more recognized worldwide. Get in early while were on the ground floor because you might be stuck with one of the other junk plastic cards if you don't. As you won't be able to afford the Premium Metal card.
I'm on your side, I've also invested since many months and can't wait for my space grey metal card too, but that's not the point. Travel Insurance was not a reason why I have invested, but they cancelled the Asset Contract first (THAT was a big reason for me) and now the Insurance. I just can't call that "Okay cool - things are looking good".
Kris has a good explanation for the reason to change from Asset Contract because of Security Exchange reasons. Basically in Countries such as the U.S. with the security exchange and regulation requirements -- to delist off exchanges if kept as an Asset contract.
As well as the very good reasons why you would want to have the Monaco Premium card and lock up X number of tokens for the period. With no Marketing what so ever at the time of this video they had around 20k signups for the MCO cards. He also promises that the value will still go back into the company and the token holders. He has no reason to lie other than if he wants to destroy the company and his reputation. The market potential for this model is huge and is easily capable of taking the dominate place in the market.
The revenue generation along with the perks make this a very sustainable model with no fees for loyal customers. It's like being a member of a club. Really there is no risk. Lock up 50 tokens for the Ruby card or 500 for the Platinum card and you are a member of the club. For those that want to try the service for free without any lockup they have the basic plastic cards.
At this time they have nearly 50k signups with no marketing for the card. This is quite an achievement and to me it says once a product is released and marketed. Those numbers will easily reach millions. Crypto on the fly, free cash withdrawls, cashback and purchases. Revenue generating program that just makes sense. 4 types of cards so one for everyone based on scale. No 10-20$ purchase and usable anywhere the Visa logo is available.
https://www.youtube.com/watch?v=OtymAK1pjss
