If cryptocurrencies are something that you are interested in or have looked at, you might have come across the major cryptocurrency exchange platform called Crypto.com. It released under the name Monaco and domain name Mona.co back in June of 2016. A Swiss start-up but now based in Singapore, the company is aiming to provide a platform for users to secure, sell and buy cryptocurrencies. Originally, they started off as a cryptocurrency debit card company. So far, the company has released additional services like an app, metal visa cards and crypto credit among others. NFTs and over 250 cryptocurrencies are also available on the platform for users to buy, sell and maintain.
The service is preferred for allowing people to connect multiple digital wallets and have an oversight to those at once. Their catalogue of products and services has improved throughout the year and mainly after rebranding. Going through with the Crypto.com domain sale was an expensive decision for the company, but one that was surely thought through and well planned. If Mona.co was well known within a small part of crypto investors, Crypto.com is a dominating platform nowadays. However, we are not talking about a simple rebrand, there are many aspects to this change, and we are going to look into those next.
Why Was the Crypto.com Domain Name Acquisition?
Rebranding can be done for several reasons. This could be in case that your company isn’t performing well, you want to merge with another brand, or if you want to completely rebrand to introduce new values, image, products and audience. The Crypto.com domain name was a strategy to introduce a full rebrand to the old Monaco brand. However, the domain was already registered. In fact, it had been registered since 1993. The owner was Matt Blaze, a professor at the University of Pennsylvania. He is specializing in cryptography and has always been reluctant to sell his premium domain name. On 5th January 2018, on Twitter, he replied to someone interested in his domain with “For anyone else trying to contact me for this reason, don’t bother. Not for sale.“.
It seems like the acquisition of the Crypto.com domain would be a real struggle. So why would Monaco want exactly that domain? Because it is a premium domain name. Furthermore, it contains the best keyword for their market in the domain itself. Crypto is not only a keyword, but for many a standard word in their everyday vocabulary. On top of that, the domain extension .COM is the best extension to have.
In 2018, the company Monaco wanted to get bigger and provide more for its customers. They were after a powerful new identity, achievable through a rebrand. That same year, surprisingly enough, Matt Blaze got the Crypto.com domain sold to Monaco. The Crypto.com domain cost is alleged to be $12 mil. Monaco then unveiled their rebrand to Crypto.com on 6th July 2018.
Was Purchasing Crypto.com Domain a Successful Move?
The jump from Mona.co to the Crypto.com domain was a big move for the start-up company. Especially with the investment of the large $12 million Crypto.com domain price, it is a jump that definitely paid off for the cryptocurrency company. They reported 10 million users in 2021, three years after the rebranding. Just in 2022, the registered users were increasing at a great rate. The popularity of the platform, unfortunately enough, attracted some bad-mannered audience.
In January 2022, the big exchange platform was hacked. Between $30 and $35 mil. were stolen from 483 users in different amounts of different cryptocurrencies. The company treated this as an incident, but later admitted that it was a hacking, despite, they could reimburse those whom the hacker stole from. Even after this big scam case, Crypto.com is still performing well.
|Year Revenue:||$1 billion|
|Search Results:||19.7 mil.|
|Monthly Traffic:||7 mil.|
Mona.co had 1 million users as of Sept 2019, just three years after being released. Two years later, in 2021, the registered users jumped to 10 million. A couple years after the Crypto.com domain name sale, registrations jumped up to 70 million users in late 2022. More and more people are trusting the platform for securing, buying and selling their cryptocurrencies. The Crypto.com Visa Debit Cards are also an incentive for users to register because of its 1-5% cashback and option to use cryptocurrencies to pay for everyday purchases.
The yearly revenue of Crypto.com reported is $1 billion in 2022. The new domain brings the company a monthly traffic of 7 million users and it shows up in overall 19.7 million search results. All these numbers speak in favor of the rebranded Crypto.com and are a great example of how a new premium domain name can successfully replace an old domain which drags your revenue down.
The chart above is showing the organic traffic that the domain name Mona.co has generated in the whole time it has been up. Since its founding in June 2016 to the rebranding to Crypto.com in July 2018. Organic traffic is any traffic generated to your website from search engine results. That is any traffic that is not paid for, like advertisements, but a simple search result on any search engine. As we can see, the first drastic change in traffic numbers comes in July 2017. In a short time, the numbers jumped to over 30 thousand. The most organic traffic that Monaco has seen, based on the chart above, is of over 45 thousand visits, before decreasing rapidly. Since announcing their rebranding to Crypto.com, the organic traffic to their original website is seen to decrease to absolute zero. As of now, the domain name Mona.co is no longer active.
Similar to the previous chart, this one looks at the organic traffic, this time for the new Crypto.com domain name. The Crypto.com domain name was purchased in 2018, but here we want to focus on the time period between December 2021 and December 2022. The numbers of organic traffic are constantly increasing with each month. Despite the hacking in January 2022, the numbers stay the same. The only slight decrease in visitors is between April and May 2022, when numbers pick up again and only grow higher.
The major difference that we can clearly notice, is the difference between Mona.co and Crypto.com numbers. The old domain only reached 45 thousand visitors at its highest point. The rebranded domain, however, has been managing to keep almost 10 million visitors from organic traffic between October and December 2022.
A rebranding through a domain name change can be what your company is in need for. Do you need higher revenue, more traffic and potentially a new branding? Similar to Crypto.com, this strategy could help you with turning your business over for a better future. A good domain name broker can help you with the acquisition of the perfect premium domain name for your website and will always have your beast in mind. Contact Ian Garner at Domainer.com for a free initial conversation to talk about domain names with an experienced professional who can help you.
Frequently Asked Questions
The load of information could overwhelm the human mind, but let’s cool down with the summarized questions that most people might have on the topic of the Crypto.com domain sale:
⌛ What was the old domain name of Crypto.com?
Crypto.com was released in 2016 under the brand and domain name Mona.co. The Swiss start-up, based in Singapore, was focused on providing users with the Monaco Visa Debit Card. Throughout the years, since the rebranding to Crypto.com, they’ve extended to a whole platform to secure, buy and sell cryptocurrencies with more products like an app and credits.
🆕 What is the new name of Crypto.com?
Mona.co rebranded to their new domain name Crypto.com on the 6th July 2018. The old owner of the domain was Matt Blaze, a professor at the University of Pennsylvania who specializes in cryptography. He made it very clear online that his domain was not for sale, but finally sold to Monaco for $12 mil.
🔄 Why did Mona.co change their domain name?
In 2018, Mona.co wanted a powerful new identity. This was possible through their rebranding to Crypto.com. This new premium domain name offers them a short domain representing the whole market they are in. Crypto is also an everyday word for many people and with the best extension, .COM, this new domain granted them the powerful new identity they were after.
📅 When did Crypto.com change their domain?
Since starting off in 2016, the company has always operated under the domain name Mona.co. After wanting to position themselves in the market, rebrand to welcome new audiences and introduce new products, the company changed their domain name from Mona.co to Crypto.com on the 6th July 2018.
✅ Was the change positive for Crypto.com and how?
The change to Crypto.com has brought the company many successful numbers. They have rebranded to a domain name that includes the most important keyword when talking about cryptocurrencies. Along with that, the change has been bringing more organic traffic to the website with almost 10 million visits as of December 2022. Furthermore, the company has managed $1 billion in revenue.
⚙️ Does the old domain of Crypto.com still work?
The old domain of Crypto.com, namely the Mona.co domain name, is no longer working. The numbers of organic traffic were decreasing since the announcement of their rebranding to Crypto.com and eventually hit the bottom line. Their highest number was above 45 thousand visitors. The Crypto.com domain, on the other hand, is bringing the company many more visitors and success.