Why is there so much hate towards Crypto.com?

[Rkaus]

They are forming up to be a major player driving crypto adoption. Do you all expect people to up and leave their traditional banks and jump straight into 100% decentralised systems and learn how to use LN etc? That's not going to happen, there needs to be a transition period.

[Bryansta]

Don't you need to buy some MCO token to use it ? And maybe need thousands of dollars.worth of MCO to use the credit card ?

[Rkaus]

Don't you need to buy some MCO token to use it ? And maybe need thousands of dollars.worth of MCO to use the credit card ?

They have a 0 MCO required debit card too. All you need to do is deposit BTC or whatever from an external wallet into their app and top up card to spend anywhere visa is accepted

[NeuroticFish]

There are quite good reasons for some hatred/grudge against MCO/crypto.com imho.

They've started as an ICO. Investors have put some nice money in there and these guys have spent a huge amount of it to buy crypto.com domain, acquisition that was seen by many a huge waste of funds (they had mona.co or something like that as website already). Of course, then the rebranding has come, which probably has costed more money.

Then they have the cards which are still not worldwide after so many years (I think that only TenX are moving slower than MCO team) and those cards were needing their MCO token in a way or another (I don't know if they do or don't do now) which was quite a show stopper for many when other card providers were giving out the cards for free and Bitcoin was enough for them.

Now MCO has some opposition and has lost some possible customers too.


PS. I've looked it up. Crypto.com domain name was bought, it seems, for about 12 million US Dollars. https://techstartups.com/2018/07/06/highly-sought-domain-name-crypto-com-sold-millions-dollars/

[jossiel]

This shouldn't be posted on this section, altcoin discussion is I think where this should be.

They are forming up to be a major player driving crypto adoption. Do you all expect people to up and leave their traditional banks and jump straight into 100% decentralised systems and learn how to use LN etc? That's not going to happen, there needs to be a transition period.

It's right that there must be a transition regarding the adoption of cryptocurrencies all over the world. I've seen people that have bought their mco card and planning to get myself one as well. I think it's a good transition if they do it like that.

I don't get where the hate you are saying in the title. Are there?

[Mpamaegbu]

It's simple logic — people don't like whatever that takes away their supposed joy and comfort even if it's going to benefit a larger society. That's what we see with the traditional institutions kicking against Bitcoin and the entire crypto space. They know that crypto will cut off or drastically reduce the influence of middle men and the bank sharks, once mass adoption finally comes on. What's happening isn't its first. Same happened when fiat overthrew the cowry method of payment. So, I ain't surprised that the banks are against the internet method of payment now..