Cryptocurrencies Are Getting Closer To Everyday Spending

There has always been a kind of disconnect between real life expenses and cryptocurrencies, because adoption, that is, making a cryptocurrency like bitcoin or ethereum be accepted in everyday payments, is not here yet. Nonetheless, some companies are building bridges to make sure that you can go to your nearest Walmart and buy your favorite chips with crypto with your credit card or your phone.
Monaco is a full finance suite of products that offers its customers various services through its platform. Its main objective, as stated by its CEO Kris Marszalek, is to allow people to be always in touch with their assets and facilitate people to spend its cryptocurrency even if some merchants don’t accept them.
The meat of the Monaco platform lies in its credit card. The Monaco Credit card users can get their cards by holding a certain amount of Monaco token for six months. There are four types of cards, each one with their credit limits. It will let you top it up with cryptocurrencies and spend it on whatever products or services you want. It will be accepted everywhere, because it is, in essence, a VISA Platinum credit card.
Monaco has also projected two important projects for its future: a credit line, where the user can use their cryptocurrencies as collateral for getting fiat money without exchanging or spending your crypto assets; and also a highly ambitious auto invest app, that will feature automatic portfolio investing depending on the user crypto preferences, and collecting fees only from earned profits.
As we can see, Monaco has built a whole platform to enable normal people to use and get the most of their cryptocurrencies without the hassle of complicated exchanges and with a consumer-centric approach, bridging users and crypto together to do more.
But for some, even cards are a hassle. Indeed, they are physical items that can be lost or destroyed. But how about having the power of making cryptocurrency to fiat payments via a phone app compatible with any NFC POS terminal? A company called Crypterium is offering just that.
Leveraging the power of NFC, a technology that permits a contactless exchange of data at a near range for secure transactions, Crypterium offers the opportunity to pay for virtually everything with your phone, in the same fashion that other services like Apple Pay works. Austin Kimm, co-founder of Crypterium declared that their main purpose was to “help you pay a coffee in Starbucks with crypto”. Also, Crypterium only collects 0,75% of every transaction as a fee, much less than other established payment services.
Satoshi Nakamoto, the bitcoin founder, envisioned a society where all payments were decentralized and peer to peer based, that is, that only the two parts in the transaction are involved, and there is no need for a certifying third party (like a bank); but to think that this is possible here and now, is foolish. Yes, cryptocurrency usage is growing and they are being accepted in more and more establishments as we speak, but the majority of goods and services are still paid with fiat money. These services are complementary and make us feel close to the real vision of Nakamoto, that is, living only with crypto.