Crypto Debit Cards: Token Card vs Monaco Card vs TenX Card
So with all these new ICO's for crypto debit cards, it can be very confusing as to the fundamental difference between each card. Below is a short summary of each card outlying the differences.
Token Card
- Debit Card for Ethereum and Ethereum Contracts (anything that runs off of Ethereum can use this card)
- ~1% fee charge for use
- Partnered with Melon Port, Digix, Bancor, and a few other cryptos
- Cash and Burn Policy - for each purchase, a percentage of the the purchases go into a pot. To claim a percentage of the pot, you send your token to an address and you get a percentage of of what is in the pot and the token is destroyed.
- They allow users to buy crypto from their app directly from fiat money to use on the card
Monaco Card
- Debit Card for select high premium coins (They do an anaylsis of each coin and only choose select coins that they think will last to purchase goods... Not Limited to just Ethereum Tokens)
- ICO was announced only 1 month before launch (Didn't sell out right away, took days)
- Same cash and burn properties as Token Card (Potentially copied Token Card as Token Card was released first)
- Bad Reputation as many think it could be a scam (whether it is or not, it is the public image)
- Marketed to be the "Premium Crypto Card"
TenX Card
- App that is already on the market
- ICO just launched and sold out really quick
- .01% Cash back - Meaning you get a TenX Token (%) for each purchase you make
- Push notifications every hour saying how much you earned (unknown whether they will be sent via Ethereum Network. If so it will be very costly)
- They want to eventually allow all Crypto (Main) coins
- 0 Transaction Fees
I do not give financial advice, but my favorites are (in this order) Token Card, TenX Card, then Monaco Card (take that as you will). What do you think? Let me know below.
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Thats a great analysis of some of the more popular cards. Thank you! I found this helpful
Cool. Thanks for the info. Does anyone know how this stacks up compared to bittpay and shift?
Exactly what I'd like to know. I mean these two cards are already working and being delivered to market. I've used both at actual merchants without any problems.
With this development, cryptocurrencies are becoming mainstream to the public. In fact, in Philippines and Thailand, it has been officially approved as a legal payment method which went viral. More information about this here.
I was personally really impressed by the CEO of monaco making 21 videos answering questions and posting them on youtube:
After watching the videos, it gave me a much better understanding of how the CEO thinks.
That was nice, but he only did that because people called his card a scam... If no-one said anything, he probably wouldn't have done that
Yea, I heard the rumors. Hopefully Monaco turns out to be legit. I like the name and concept, although I also like Tokencard as well. Thanks for the review Mr cryptowallet.
Is there anything wrong with that? Seems like the appropriate response to getting called a scam. Otherwise this might have been a bit of overkill.
Without any fees???
merchant pays the fee, similar to every other VISA card we currently use (merchant = seller, for example Amazon, eBay, Walmart, 7 Eleven, etc.)
Does Tenx have no transaction fees? If this is true I think they will be the clear winner.
correct – merchant pays the fee, similar to every other VISA card we currently use (merchant = seller, for example Amazon, eBay, Walmart, 7 Eleven, etc.)
Great analysis. Thanks a lot for the information.
TenX appears to be a Winner. From the detailed groundwork to an elegant concept to a tightly delivered whitepaper... Partnering with other proven Winners... Geolocation in progressive Singapore and sound legal foundation... But, most of all the TenX Team's underlying philosophy and spirit of fairness.
Couple those elements with a top team, a boots-on-the-ground wallet and existing credit cards, excellent and continuous communication throughout the processes and just the gut feeling that this Team have their stuff together and will achieve their stated objectives - well, as I observed earlier, Folks, we have a Winner and a definite HODL with PAY.
As with everything, there are no guarantees expressed or implied, but TenX appears to have considered and mitigated to the degree possible at this stage, "... The known knowns, the known unknowns..." and as for the "unknown unknowns"... Who can know? In any event, a Big Well Done to the TenX Team!
Hodling'
Dr. Julian Hosp of TenX continues to make videos and continues to keep people up to date even after the ICO. You get the definite feeling that things will move along quickly. It's great to have such an energized, competent team.
I didnt like the way they falsely advertised Vitalik CEO of Ethereum was involved in the project, So i passed on it sorry. Token Card did however just join Ethereum Enterprises... something to consider
there quite a lot of ico's lately,but talking of the crypto debit card, i think i like the concept of Tenx card and have invested on there ico as well,hope it went well. kindly follow me @cryptohunt for more crypto talk.
Looks like we're on the middle of the Crypto Card wars. I have bitpay which is absolutely awesome but i think i might get one of these as well. Are these available in the US? I know the ico was closed to people in the US, i wonder if the card is as well?
These guys are quick to respond to their correspondence. I asked when the visa card would be available in the USA; I received a reply within 24 hours stating that the goal is to have them available by Q4-2017.
Which one are you referring to????
I believe he's referring to the TenX Card