With the inception of Cryptocurrency, their real life use cases can be measured easily by the application they're providing into the real World. Most of the cryptocurrency projects are still in development phase but some have introduced some initial services. The examples of those cryptocurrencies projects are TenX Pay, Civic, Ethereum, Bitcoin, Litecoin and list goes on. Cryptocurrencies are most used for transaction as well as exchange purpose. BTC, LTC are the main cryptocurrencies whose core functions are medium of exchange.
But there is one cryptocurrency project whose core function is to provide cryptocurrency payment card to their users so that they can make payment from cryptocurrencies while on the go. They can be used online as well as offline.
This cryptocurrency project name is : Monaco.
Monaco is a blockchain based cryptocurrency platform which allows it's users to pay through cryptocurrencies for the exchange of goods and services using their own Monaco Payment cards.
By the looks of it, Monaco project looked very ambitious and decent, showing high potential and real life use cases. And in reality it was very high potential project until recently a conspiracy has been revealed.
It was the conspiracy of Pumping their coin value by concealing the real news from the investors and keeping them in dark.
Back in May2017, Monaco had revealed that they're going to have a deal with VISA payment solutions so that their own payment card will have access to 45 Million users who're using VISA payment card for online payments.
They revealed that they're going to introduced VISA in-built payment cards and the product are still in work-in-progress.
By hearing this news, Monaco price had started to pump hard.
Monaco, however, was working with VISA licensed issuer - Wirecard AG. Now later that month, Kris Marszalek, the founder of Monaco Project had a press conference detailing about the cards specifications. Now at that point too, Marzalek hadn't revealed that he had no deal with VISA.
Although, Marzalek CEO said that we will announce all the details when the project will be completed and until it gets complete we would remain silent and working for our project.
After that announcement of cards in that conference, the Moncao price went to the moon and it got tripled within 3 months.
After that conference, the price of Monaco remain in average price range with small pumps and dumps. Until few days back when Kris Marzalek revealed that VISA deal was never happened but they were working hard for the project by trying to make a deal with VISA. Their team were constantly trying to come up with a deal with VISA.
After reading this tweet, the Monaco price started to fall. In fact it took a steep fall within seconds and still falling in value. Currently it is trading at $7.5 from it's ATH of $26.
If we look at the community's reddit page as well as twitter account, then lots of investors are criticizing this move from Chris.
There were no deal to begin with and this crypto price rise was just based on a conspiracy.
So, I would advise all investors and traders to see the project first and then invest your hard earned money after proper research.
The crypto space is full of conspiracy, hacks and now the secrets as well.
Thank you.
