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New Listing: AMON (AMN) Token
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Amon is a wallet and card creating a bridge between traditional fiat and cryptocurrencies. It empowers users to use and spend both crypto and fiat, earn passive interests on crypto assets, and gain insights into the crypto market with the Amon Investment Assistant tool.
The AMN token
The AMN token grants Amon users better services and perks within the Amon Wallet. Amon created several utility functions for the token. Some have been released already while others will launch with the release of the Amon Debit Card:
- Users receive 0.5% cashback on all exchanges made within the Amon Wallet be it crypto-crypto or crypto-fiat
- Users can get 1-3% cashback on all purchases with the Amon Card
- Users can get higher passive interest rates on their crypto assets, lower fees and premium customer service.
What problem is AMON solving for the crypto payment ecosystem?
The Amon Card is a multi-currency card which enables users to spend both EUR and GBP. Its key edge over other cards is that users will not need to top up their cards all the time but they can spend directly from their fiat wallets. Within the Amon Wallet, users will be able to convert their crypto to fiat instantly and be ready to spend. As a further innovation in the space,we are introducing an Investment Assistant that will support users to invest and spend their crypto. We aim to bridge the next billion of users in crypto. To achieve this,we need to educate them about the crypto space. We plan to do this using our Investment Assistant and a “crypto academy” filled with news, a helpful community and learning materials.
“The crypto market is growing fast and there are still too many underserved markets. New users feel often overwhelmed and frustrated about the complexity of the crypto market. The Amon Investment Assistant helps users to make educated investment decisions while the Amon wallet and card simplify the banking experience with fiat and crypto for our customers,” says Michael Kulakovskij, CMO at AMON Tech.
What are the fees charged to customers?
Users get between 1-3% cashback in AMN token on all their transactions. However, for our investors on the Amon BnkToTheFuture fundraising, we are offering them up to 5% cashback (for the first year) regardless of their invested amount. Card transactions are free and customers get 0.5% cash-back for in-app exchanges. ATM withdrawals are free up to $325 (every month) We charge a small fee on ATM withdrawals over $325.
Any features in the pipeline you can tell us about?
Amon's main projects in the pipeline are:
- Launching the Amon Debit Card in 31 EEA countries by Q1 2021
- Launch the Amon Investment Assistant to help customers to make educated investment decisions. The crypto market can be quite overwhelming for beginners and we want to assist them with historical/statistical and risk analyses.
- Amon Give is an ethical system where users will be able to share their cashback with their favorite (non-profit) associations and get rewards for doing so
- Global availability of the Amon card.
- Finalizing our current fundraise on BnkToTheFuture
How many merchants accept UnionPay International?
- There are 28.5 million merchants worldwide who accept UnionPay International. In Europe, UnionPay has 90% coverage in most of the countries.
Can you tell us more about Amon Give?
- Amon Give is an ethical product that rewards customers for achieving set donation milestones. Rewards could include a metal card, better interest rates, more cashback, vouchers, premium customer service, and more. Customers can choose their favorite charity and donate their cashback automatically or sign-up for a (not binding) monthly donation subscription.
How will the Amon Investment Assistant support users with their investment decisions?
The Investment Assistant helps Amon users to invest and spend their crypto. It is made of two pillars: Statistical Tool and Portfolio Analysis Tool. The Statistical Tool provides users with paths and trends of crypto markets while the Portfolio Analysis Tool provides the user with a portfolio risk profile. Based on this information and analysis, Amon users will be able to make better investment decisions on their crypto portfolio.
What's the full list of fiat and cryptocurrencies you accept and are there plans to add more in the future?
- Crypto: BCH, LTC, BTC, ETH, XRP, DAI and AMN
- Fiat: GBP and EUR
- We definitely want to expand our currency coverage greatly and listen to our customer base to understand their needs better. USD is the next fiat currency that we plan to implement. For cryptocurrencies, we will give our community the chance to vote on it.
- Qash (the token of Liquid.com) will be available in the Amon wallet soon after AMN lists on Liquid exchange.
Aside from the fact it is faster to launch a global debit card through UnionPay than Visa or Mastercard, what are the advantages for consumers?
For the user, it does not make much of a difference as long as the card is accepted. Users are mainly focused on the rewards and perks. For Amon, the main turning point is to have a faster global expansion. This is especially true for underserved markets like countries in South America and many other countries without any significant crypto card availability.
Where can you buy AMN?
AMN is now available for instant purchase via trading or on Liquid Buy and Swap. Visa cards are accepted from any part of the world. The trading pair currently available for Amon is AMN/BTC.
Learn more about Amon. Start trading now on Liquid.