"A recurring challenge for bitcoin and other cryptocurrencies is how to make them work in the real world." - Bloomberg
The meteoric rise of cryptocurrencies over the last several years has raised questions on how these different digital currencies can be used in our day-to-day life and if it's truly possible to detach ourselves from FIAT currencies and transition to a crypto future.
Two companies that are attempting to meet this challenge head-on are Monaco and TenX. Both companies attempt to make real-time purchases possible by providing payment platforms with their respective cards and applications. They are in essence being intermediaries between wherever your assets are located and wherever you want to spend your assets at low exchange-rate costs.
Monaco has gained a lot of attention over the last several days as its token as rapidly increased in value due to its addition in a large Chinese exchange (Binance) and in anticipation of its app release, which will mark the first major release for the company.
At the time of this post it is priced at $24.33 per token, with a market cap of $238,749,549 and a circulating supply of 9,814,825 MCO. It is up more than 100% from just several days ago.
While TenX has not been getting the same publicity has Monaco, this is very much intentionally done by the company as explicitly stated by Co-Founder Julian Hosp in their weekly Q&A (something that Monaco does not do), around the 8:30 mark .
https://www.facebook.com/tenxwallet/videos/1942883329262204/
TenX has denied payment requests from exchanges in order to have their token featured, something that would undoubtedly increase the price of the token as it did for MCO. This is due to the fact that the company is much more focused on long-term growth and providing solutions to as many use cases as possible. In the words of Julian they would much rather focus on raising the value of the token by supporting as many currencies as possible rather than raising it by generating hype.
In fact, the company has been so dedicated to organic growth that it has barely publicized the major releases that it has had and is having in the future. While MCO is just pushing it's first application release TenX debuted it's web app in an open beta last week, intentionally failing to immediately mention this on social media. TenX is also finalizing it's iOS app and is expected to have it on the App Store before the beginning of September, much like MCO which has been hyping the release of it's app for weeks.
The PAY token is currently priced $4.27 with a market cap of $446,904,840 (almost double MCO), and a circulating supply of 104,661,310 PAY. While speculators are hyping up MCO and attempting to pump it's value, this is all purely based on speculation with little evidence of a proper working product. TenX has put out a working product that supports more currencies than MCO does, as evidenced by this video of someone using their TenX card to purchase a beer in Singapore!
MCO may be priced higher per coin because of its low circulating supply and hype generated by speculation, but TenX is the superior product with a clearer long-term vision and a much more transparent upper management team. Don't get caught up in the FOMO and hype, invest in products not promises!