Crypto.com MCO CRO Token Swap: What are The FACTS?? 🧐

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– TIMESTAMPS –
0:00 Intro
1:37 MCO To CRO Swap
7:15 Tokenomics of CRO
11:17 Is Crypto .com A Scam?
19:49 Final Thoughts

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πŸ“Ί Recommended Videos πŸ“Ί

β–Ί Crypto .com overview: https://www.youtube.com/watch?v=Ugmi1fIDrIQ&t
β–Ί Dedicated Crypto .com exchange vid: https://www.youtube.com/watch?v=Clx2qw8HQHs&t
β–Ί All you need to know about the Crypto .com app: https://www.youtube.com/watch?v=-UQCX3bTASU&t

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⛓️ πŸ”— Useful Links πŸ”— ⛓️

β–Ί Binance profitability: https://finance.yahoo.com/news/binance-just-crossed-1-billion-094510388.html

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❓Why The MCO Swap Ruffled Feathers❓

Out of the blue on the 3rd August, Crypto.com announced their MCO to CRO token swap. This practically killed off MCO overnight.

Those Crypto.com chaps used a volume weighted average price in USD terms for the last 30 days when determining the swap rate. This amounted to 1 MCO equaling 27.64 CRO. On top of that, an additional early swap bonus of 20% CRO was available for those wanting to stake that new CRO in the Crypto.com exchange for 180 days. So, anyone doing that got a rate of 1 MCO equalling 33.17 CRO.

When looking at things in fiat terms, everything looked alright with the swap. However, throughout 2020, MCO had been losing relative value to CRO and Crypto.com had briefly revalued the staking requirements to get their crypto cards at a ratio of 1 MCO to 100 CRO. This gave MCO holders the distinct impression that they had just been ripped off.

In an AMA in August, it was revealed that Crypto.com simply could not pay this higher swap rate of 1 to 100.

There are many good reasons leading to the MCO community feeling betrayed and tricked by Crypto.com. If you are interested in hearing all about that, then make sure to watch my video.

πŸ€‘ CRO Tokenomics πŸ€‘

If you look at the Crypto.com ecosystem as a whole, it is readily apparent that there is a strong emphasis on staking built into almost every facet of it. CRO token is staked to get those hot interest rates, those popular crypto cards, to get that discounted crypto from the Syndicate and more.

So, I am going to level with you – staking and unlocking Crypto.com ecosystem utility is what CRO is used for right now. Seeing that the project has acquired over 3 million users, all looks good on that front.

However, there are some important inflation considerations with CRO and potentially 20 billion tokens being made to the Crypto.com team before the end of this year. I go into detail on all that and the CRO token distribution in this vid.

πŸ›‘ Is It A Scam? πŸ›‘

Browse Reddit for a few minutes and you’ll see claims that Crypto.com is an elaborate scam or ponzi scheme. These suspicions seem quite reasonable on a surface level when you look at the incredible crypto card perks on offer and the crazy Syndicate promos on the Crypto.com Exchange.

I mean, put it this way; if you get a Crypto.com Ruby card and sign up via a referral link, that will cost the project about $256 and it seems very doubtful that a user is generating that much in fees. This is one of the key reasons why people think Crypto.com is a ponzi. The logic is that these rewards are only possible through the recruitment of new customers.

However, people shouting β€˜ponzi scheme’ simply focus on one business unit in the ecosystem like the Crypto.com cards. I explain in the video how Crypto.com are adopting a β€˜loss leader’ business strategy here and how there is logic to the seemingly unsustainable rewards and promos.

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πŸ“œ Disclaimer πŸ“œ

The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.

#crypto #CRO #MCO #card #exchange #bitcoin #visa

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