Crypto.com formerly know as MCO, a cryptocurrency and a payment platform with nearly over 5 million visitors. MCO, which is now crypto.com was known for its Visa card which created a wave during 2018 with aim of helping widespread adoption similar to its competitor TenX platform
The cropto.com Card ( CRO) has very impressive rewards depending on their tier which has attracted a huge customer base.
However even with the popularity crypto.com appears to have lot of backlash from crypto community lately. In a recent post on reddit, one of the user was concerned about the 30% markup on the buys which was not explained anywhere in their website. This also raised the ethical question of why such a known platform is charging exorbitant markups when their objective is to increase crypto adoption. The company has a huge opportunity to make a difference in crypto community but with such practices the growth may be questionable.
Reddit platform has a great crypto community and one of the user with handle ‘TechnicalCharts’ quoted “they are using very dishonest business practices hoping that individuals making larger purchases will not notice the 30% markup on a token . Especially when they advertise their site as buy “at market” price with no fees and no markups” Especially dishonest as the market price they show is 0.37 and you only see the 30% markup on the final purchase confirmation page (the very last chance to cancel) –
This platform is starting to look real shady. For those who choose to continue using it please use extreme caution. from Crypto_com
We sincerely hope such issues are rectified and crypto.com can keep customers trust which will help the adoption.
