Monaco is an app which reduces many exchange fees when spending in different currencies as well as the costs associated with transfers. Boasting savings of up to 8% on exchange rates and 0.75% cashback on all transactions, users are able to benefit in a way that is not possible with other credit cards. Although these features are very profitable for the user, the differentiating feature of Monaco is in the ability to purchase and manage cryptocurrencies without the need to have sophisticated software or significant knowledge in the space.
Although cryptocurrencies are popular, accessibility and understanding how they work is still a large barrier to many
Through Monaco, users can purchase cryptocurrencies such as Bitcoin or Ether to hold as an investment or to be spent as an anonymous form of payment. Beyond purchasing them, the app also gives the ability to spend the currency at any purchase as if it were cash with the card that comes with the account. In offering users the ability to purchase cryptocurrencies in a way that has little to no friction, nearly anybody who is interested in participating in the space is able to as the paradigm of requiring technical knowledge or sophisticated technology is eliminated. Furthermore, the rates that are used when converting money into the cryptocurrencies are said to be better than competing rates while offering the same degree of security in the transaction.
Ideal for those who want to hold cryptocurrencies either for investments or purchases, Monaco makes it easy to begin by offering a simple, mobile solution that deviates from dedicated hardware and software requirements. As all that is needed from the user is an account, the process of buying cryptocurrencies only requires the account to be funded either from a credit or debit card before a currency can be bought. Beyond cryptocurrencies, Monaco also makes it less expensive to exchange other currencies as well as receive cashback savings on all transactions, making it a highly recommended tool for managing all digital currencies.