Monaco Purchases Crypto.com Valued at Least $5M, Possibly Priciest Crypto Domain Name in History

written by

Monaco Purchases Crypto.com Valued at Least $5M, Possibly Priciest Crypto Domain Name in History

Support free journalists: > send a tip

Cryptocurrency payments company Monaco has purchased the highly-coveted domain name Crypto.com for an undisclosed amount of money. Domain name selling expert Niko Younts says that Crypto.com is worth between USD 5 million and USD 10 million, possibly making this the largest crypto-related domain name purchase in history.

Other examples of extremely expensive crypto domain name purchases are Eth.com which sold for USD 2 million, Btc.com which sold for USD 1.1 million, and Block-chain.com which sold for USD 1 million. Ethereum.com has an asking price of USD 10 million, and Blockchain.us is on sale for USD 3.45 million. As of now though, it would seem Crypto.com is the most expensive crypto-related domain name purchase in history based on expert analysis, although this can’t be confirmed since Monaco hasn’t disclosed how much it spent on the domain.

Crypto.com was registered in 1993 by Matt Blaze, a professor at the University of Pennsylvania who is on the board of directors of the Tor project, which is an anonymous and cryptographically secure platform for surfing the internet. This domain was purchased 16 years before the genesis block of Bitcoin.

Matt Blaze actually did not want to sell Crypto.com despite numerous offers in the past. In September 2017 and January 2018, he posted on Twitter that he was not considering offers for Crypto.com. The CEO of Monaco, Kris Marszalek, says the deal wasn’t about money for Matt Blaze, or Crypto.com would’ve been sold a long time ago.

Monaco offers Visa-branded cryptocurrency debit cards. These cards are connected to a cryptocurrency wallet that can hold several different cryptocurrencies, and these cryptocurrencies can instantly be converted to fiat at market rate when withdrawing cash from an ATM or making a purchase from a store.

Since these debit cards are backed by Visa, they are accepted almost everywhere. This is seen to be beneficial for the global spread of cryptocurrency, and is much more efficient and cost-effective than cryptocurrency ATMs which charge high fees. In fact, some of the Monaco crypto debit cards offer cash back from 1% to 2%.

Monaco has a native cryptocurrency, MCO, which is quite active with daily trade volume in excess of USD 20 million and a market cap of USD 138 million, indicating that the use of Monaco’s platform is already becoming widespread.

 

Follow BitcoinNews.com on Twitter at https://twitter.com/bitcoinnewscom

Telegram Alerts from BitcoinNews.com at https://t.me/bconews

Image Courtesy: Pixabay

Help spread this article :)

BitcoinNews.com is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of BitcoinNews.com

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by BitcoinNews.com to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of BitcoinNews.com 

   Advertisement

Read More Bitcoin News

   Advertisement

Join our Newsletter

   Advertisement

Latest on Bitcoin News

Video of the Week

Join our Newsletter

   Advertisement