What is Amon? | Amon Review

Amon is a financial crypto platform offering a multi-currency wallet that allows you to have both Cryptos and Fiat within one banking app.

The company recognises the shortcomings the financial systems of previous generations face. They also understand that crypto is a part of the future of economies.

Traditional banks are losing customers because they can no longer offer the type of financial growth they used to.

The younger generation of investors are shifting from traditional banking to “regular” Fintechs that have no branches hassle, more flexibility, better customer service, and are cheaper.

Amon is packed with various features to help manage your crypto assets effortlessly. Amon wants its customers to thrive, whether it’s saving for retirement, buying property, or growing wealth.

Who owns Amon?

Amon (ticker: AMN) is a Fintech company run by millennials who believe that Fiat and crypto can coexist.

The company boasts a strong team with financial, IT and digital marketing skills.

Amon’s investors include Digital Magics (a leading Venture Capital firm in the Fintech space), Bank to the Future (a leading Fundraising Platform for Blockchain and Crypto companies), and MKB Bank (the 4th largest Institutional Bank in Hungary).

The Amon story

Amon was founded in February 2018 by two brothers, Daniel and Cristian Izzo.

The company was conceived with the idea of providing crypto users with an app and debit card to spend, exchange, or invest their crypto assets through the support of a multi-currency wallet and an AI system.

In April the same year, Amon raised $1.5M in crypto with a successful ICO.

In November 2018, Amon launched an in-app exchange.

Amon joined the Accelerator Programme of MKB Bank in March 2019 and introduced the “Earn Interest” feature in May 2019.

A month later, they launched Virtual IBAN, Euro Wallet and Euro Exchange.

In October 2019, Amon formed new partnerships for the launch cards: Issuer, Process and Card Manufacturer.

They released the new Know Your Customer (KYC) process in January 2020 and BP wallet and exchange a month later.

In the second quarter of 2020, Amon did a card release for EU markets and AI statistical release. AI portfolio risk analysis was introduced in Q3 2020.

How do I create an account with Amon? | Amon Review

You can use the Amon Web Wallet or download the Amon Wallet APP for Android or iOS to create an account.

Start the signup process by inserting your full name, email and password.

Amon will send you an account activation email. Follow the activation link in the email and submit your documents for verification (ID, DL, or Passport). That’s it!

If you don’t receive an account verification email: 1) Check your mailbox and search the mailbox for “Amon” 2) Check the junk/spam folder in your mailbox 3) Try to clean up the cache and resend the activation email.

If nothing still works, contact Amon’s dedicated support team at [email protected].

Products | Amon Review

Amon has four main products:

Amon Wallet

You can now manage your cryptos with confidence.

The company offers a headache-free, intuitive and secure wallet that allows seamless transactions between crypto and Fiat currencies at the best rates on the market.

The Amon wallet offers a holistic solution whether you want to use cryptos in your daily life or as an investment option. You need to pass the document verification process to unlock all the functionalities of the Amon Wallet.

Amon recognises that crypto users still want to use paper currency in their daily life. The coexistence of digital and traditional currency is a vital pillar of the Amon wallet.

The in-app exchange allows the exchange of multiple cryptos and EUR/GBP. This is made possible due to Amon’s integration with unique VIRTUAL IBANs.

Amon users can deposit and withdraw cryptos such as Bitcoin, BitcoinCash, ZCash Ripple, Stellar, Ethereum, Litecoin, DASH, AMN, DAI, USDC, and others to come.

While users are only allowed to deposit and withdraw Euro and GBP, plans are underway to add a broader spectrum of fiat currencies in the near future.

Check the blog section regularly to track your favourite coins, be informed and stay ahead of market trends.

Amon Card

Spend with ease with the revolutionary Amon debit card.

The card was launched in July 2021, starting with the UK. It allows you to spend both cryptos and traditional currencies at over 1.7 million shops and e-commerce stores.

The card is multi-currency, meaning that you’ll be able to spend more currencies. You’ll also enjoy free shipping and no top-up fee.

Currently, there are six main card tiers: Midnight Elk, Silver Bison, Polar Bear, Black Wolf, Investor Tier 1 and Investor Tier 2.

Click here to view the fees, perks and limits for each card.

Amon Earn Interest

Most traditional banks today offer interest rates of around 1 per cent, which with the current economy, is not good enough as part of a long-term strategy.

Millions of crypto users holding their assets in wallets or exchanges don’t get any interest.

Amon looks to address both issues.

A significant percentage of Amon users use crypto as a means of investment. Amon has partnered with Celcius to help you grow your crypto portfolio with passive income.

They allow users to earn up to 12 per cent annual interest rates on Bitcoin and some of the world’s most popular Altcoins and Stablecoins simply by depositing them in their hack-proof wallet.

This is one of the highest interest rates in the market. You can discover the current interests rates in the app.

Interest is paid out weekly, and you can withdraw your savings anytime with no lock-in period, so you can rest assured that long-term financial growth does not have to be a risky investment.

Amon AI

Amon believes that you don’t have to be an expert in technical analysis simply to make a winning trade.

Their state of the art Artificial Intelligence system makes it easy for you when it comes to making decisions related to spending or investing in cryptocurrency.

One of the Amon value propositions is helping its users detect the best time to convert their assets. Irrespective of your use, whether you intend to spend or hold cryptos, Amon goal is to provide Statistical Analysis and Risk Assessment Analysis that can help you analyse your portfolio, mitigate losses and make a better decision on your investments.

The statistical analysis tool helps you quickly compare, track back and view historical performances of the cryptos in your portfolio. This instrument is, however, not meant to provide you with a fixed decision. You’re always free to interpret and make your own choice.

Risk assessment is a second step analysis that helps you understand your portfolio risk level and identify cryptos that might provide better stability or better possibility of profits.

AMN Token | Amon Review

Amon Token is a utility token meant to enhance the user experience for its wallets services.

Amon Token lets you unlock premium features like VIP customer support and up to 3 per cent cashback on trades.

You can purchase the Amon Token in their internal exchange, earn passive interest and grow your capital if you’re a HODLer.

By paying for your UberEats meals with an Amon card, you’ll be refunded by Amon, which means a free meal every month.

In the future, Amon is planning to introduce Amon Give – a feature that will allow you to donate earned cashback to a charity of your choice.

As you hit milestones and Amon’s levels, you’ll receive rewards such as premium card designs, shopping vouchers, better interest rates, and more

Fiat Exchange Rates | Amon Review

Amon allows you to view the European Central Bank (ECB) exchange rates and the Amon exchange rates for international transactions.

You can check exchange rates in real-time here.

Bug Bounty Program| Amon Review

Amon believes that no technology is perfect, so they collaborate with security researchers to identify weaknesses. They encourage you to contact them as soon as possible if you believe you’ve found a security issue in their product or service.

Disclosing a vulnerability publicly would make it ineligible for a reward.

In your submission, you must include impact, explanation of the vulnerability, remediation or how to solve the problem.

You must then make a self-evaluation following the common vulnerability scoring system (CVSS).

Amon pays rewards in AMN tokens at the market rate. Based on the CVSS expect $50 for informational, $100 for low, $500 for medium and $1,500 for high and $3,000 for critical.

Amon 3D Secure | Amon Review

Amon 3D secure is a security feature that covers Amon’s personal debit cards. You don’t have to pay a dime to enjoy this feature – it’s free to all Amon’s customers! All Amon debit cards are enrolled in the service upon issuance automatically.

When you purchase something online and enter your payment details, you’ll get redirected to a “Processing…” page.

In certain cases, you may be requested to provide further information to help them verify the payment.

You can use Amon 3D Secure from any mobile device or computer connected to the web with a compatible browser – Mozilla Firefox, Google Chrome, Safari, Opera, AOL 9 and above, Netscape Navigator 7.1 and above.

It would be best if you allow pop-ups in your browser for Amon 3D secure to work seamlessly.

Amon Debit Card | Amon Review

You can connect your card to a EUR/GBP account and convert crypto to Fiat currency in real-time.

What’s the process of ordering an Amon card?

You can only order an Amon card after successfully verifying your account.

You may be asked to top-up your Fiat wallet if you have insufficient funds before ordering your card.

To order a card from your PC, select “order card” on the dashboard, review your personal details and billing address, select the default currency and confirm your order.

To order from the Amon Android or iOS app, open your app and tap “choose a card” on the dashboard.

Check your delivery address on the card order screen, select the currency, tap next, and confirm your order.

What’s the card activation process like?

Activating your Amon card takes just a few clicks.

To do it, select your card  on the dashboard, then click “Activate card.”

Enter the card’s expiration date and the last four digits of the card’s number, then click “Activate.”

If you experience any issues, contact Amon’s support team at [email protected].

How long will I have to wait for my card?

Your card is handed over to the delivery company once it’s printed.

Depending on factors such as the shipping method and the destination, shipping times may take 3-5 business days.

What should I do if I don’t receive my card?

While it typically takes 3-5 days to receive your card, this is not always the case.

Sometimes, it can take a little longer due to issues with the local postal system, public holidays and other unanticipated reasons.

You can request another card if the five business days have passed and there are no signs of your card showing up. Doing this means that your previous card will be cancelled automatically. You won’t be able to activate it if it somehow shows up in your mail.

You can reorder a card on the desktop or mobile app by following the provided prompts.

Why Can’t I Order Amon Card?

There could be a few reasons why your card request can be declined

First of all, you need to have some funds in your Fiat account for your request to go through. Negative or insufficient balance is the most common reason for declines. You can improve your chances by transferring Fiat funds to your Amon account using your Virtual IBAN in the wallet section.

Secondly, you may be unable to order a new card if you ordered one but never activated it. Before you order a new card, ensure you’ve activated or cancelled your current one.

Can I select the name to be printed on the card?

No.

The name on your Amon debit card will be your First and Last name as per info submitted on your profile information page and verified against your ID, Passport, or Driving Licence.

How many Amon cards can I have at the same time?

As an Amon user, you can only have one multi-currency EUR/GBP card. The default currency will depend on the national currency of the country of issuance.

How to block/unblock Amon card

You should call +44 1392 58 0669 immediately if you suspect that your Amon card has been compromised.

You can block the card yourself via the Amon desktop or mobile app by going to the card section and clicking on “Freeze.” The card will be blocked immediately.

Alternatively, you can email Amon’s support team at [email protected], and they will provide you with the instructions to block it.

You will be unable to make any payment with this card until you unblock it.  You can Unblock your card at any time by following prompts on the app. The card will be reactivated immediately.

How do I pick out the default currency?

Being a multi-currency card means you can hold both EUR and GBP in the FIAT Wallet.

If you pay in GBP, you will be charged in GBP. If you pay in EUR, you will be charged in EUR.

But despite the Amon debit card being multi-currency, you’ll have a default currency based on your country of residence.

If you have your card shipped to the UK, you will have GBP as the default currency.

You will use your default currency to make payments in a foreign currency other than GBP or EUR. In this case, you’ll be debited your default currency FIAT wallet.

Is it possible to change the default currency?

No.

At the moment, every user can have only one physical card.

Activating the new card will disable your old card automatically.

Is it a requirement to load EUR/GBP onto my Amon Card in order to use it?

Being a debit card means there’s no need to “load” it.

If you have some cash in the EUR/GBP wallet, you can spend it directly.

The funds will be deducted from the e-wallet at the moment of the transaction.

Can I use my Amon card at any shop?

Yes.

You can use your Amon card to make payments at any shop and station, such as shopping centres,  airports, and filling stations where Union Pay International (UPI) is accepted.

What conversion rate does Amon use when I make a transaction in foreign currency?

Suppose you use your Amon card to make foreign transactions with a currency different from GBP or EUR. In that case, the interbank conversion scale applies.

This rate may vary according to the daily rate of the pair.

How do I initiate a refund from a merchant?

The two main types of refunds in Amon are failed and cancelled transactions and refund.

If your transaction doesn’t go through, you’ll get an automatic refund.

You’ll see the transaction (charge) and the refund (credit) in your transaction history. If you don’t see the refund yet, wait for at least three business days or contact Amon’s support team.

My Amon card has been blocked. What next?

If Amon suspects a card has been compromised, they might temporarily block it and request more info from you.

They will issue a new card if you confirm the illicit use of the card.

What can lead to my Amon card getting declined?

Your Amon debit card may get declined by an ATM or merchant for one of the following reasons: 1) You do not have enough funds on your wallet 2) The merchant doesn’t support UnionPay debit cards 3) You have reached your card limits 4) Your card is blocked.

Amon Debit Card Limits

Click here to find the updated fees and limits.

Can I Use the Amon debit card in my country?

If you’re wondering whether you can use your card in your country, here’s an updated list of the excluded countries.

Amon Pros and Cons | Amon Review

Pros

• You can buy and sell crypto with EUR/GBP
• “All in one” Wallet. No hassle to have more wallets
• Unique investment product. You can earn up to 12 per cent interest by holding crypto in the Wallet
• Cashback and rewards programs paid by way of AMN – Amon’s native token
• UnionPay cards can be used in over 1.7 million ATMs in 171 countries and regions
• Amon AI can help you to analyse, understand and make better investment decisions
• Amon has strong partnerships with leading Blockchain companies (e.g. Celsius.network)
• Strong IT systems to keep your investment safe

  Cons

• Political decisions may influence the crypto market
• Some users have expressed concerns over the slow withdrawal process
• The cryptocurrencies supported could be more

Is Amon Legit? | Amon Review

Amon has a 4.4/5 (excellent) rating on TrustPilot, 4.4/5 on App Store and 4.2/5 on Google Play Store.

Is Amon Safe? | Amon Review

Amon offers the highest security standards via their FCA regulated partners and BitGo.

BitGo is a leading security, compliance and custodial solution provider for blockchain-based currencies. The BitGo Wallet is an institutional-grade, cold wallet for cryptos.

Multi-signature, three-key management eliminates any single point of failure, and advanced security configurations ensure that your assets are secure.

Amon has also put in place appropriate security measures to prevent your personal data from being inadvertently used, lost, or accessed in an unauthorised way, disclosed or altered.

Is Amon Regulated? | Amon Review

Amon is incorporated and operates under the laws of Estonia, with registration number 14429089.

The company holds an operating license no FVT000152 from the Estonian Financial Intelligence Unit (FIU). The operating licence allows Amon to operate as a virtual currency wallet service provider and exchange platform.

Amon Customer Support | Amon Review

Amon regards itself as “a customer-first company.”

The Amon Team is committed to addressing your concerns with their in-app live chat within 24 hours of the request.

You can reach Amon’s support through [email protected]. For General Enquiries, use [email protected]. If your card is lost or stolen, contact them via [email protected].

Who Are Amon’s Competitors? | Amon Review

There are only a dozen of competitors globally that offer a multi-product wallet for the crypto market. Most companies only offer a simple card solution minus a complete multi-product wallet.

Notable competitors include Wirex, crypto.com, and Crypterium.

Amon Review Verdict:  Should I Use Amon? | Amon Review

The Amon card solves three existential problems with crypto spending: 1) Dealing with crypto volatility 2) Real-time conversion 3) Boosting retail acceptance.

We recommend it if you’re looking for an innovative multi-currency crypto wallet with a powerful artificial intelligence system.