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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 Rip-off?
19:49 Remaining Ideas
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📺 Really useful Movies 📺
► Crypto .com overview:
► Devoted Crypto .com trade vid:
► All it’s essential to know concerning the Crypto .com app:
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⛓️ 🔗 Helpful Hyperlinks 🔗 ⛓️
► Binance profitability:
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❓Why The MCO Swap Ruffled Feathers❓
Out of the blue on the third August, Crypto.com introduced their MCO to CRO token swap. This virtually killed off MCO in a single day.
These Crypto.com chaps used a quantity weighted common value in USD phrases for the final 30 days when figuring out the swap charge. This amounted to 1 MCO equaling 27.64 CRO. On high of that, a further early swap bonus of 20% CRO was out there for these desirous to stake that new CRO within the Crypto.com trade for 180 days. So, anybody doing that obtained a charge of 1 MCO equalling 33.17 CRO.
When issues in fiat phrases, every thing seemed alright with the swap. Nevertheless, all through 2020, MCO had been shedding relative worth to CRO and Crypto.com had briefly revalued the staking necessities to get their crypto playing cards at a ratio of 1 MCO to 100 CRO. This gave MCO holders the distinct impression that they’d simply been ripped off.
In an AMA in August, it was revealed that Crypto.com merely couldn’t pay this larger swap charge of 1 to 100.
There are lots of good causes resulting in the MCO group feeling betrayed and tricked by Crypto.com. If you’re keen on listening to all about that, then be certain to observe my video.
🤑 CRO Tokenomics 🤑
In the event you take a look at the Crypto.com ecosystem as a complete, it’s readily obvious that there’s a sturdy emphasis on staking constructed into nearly each side of it. CRO token is staked to get these scorching rates of interest, these well-liked crypto playing cards, to get that discounted crypto from the Syndicate and extra.
So, I’m going to stage with you – staking and unlocking Crypto.com ecosystem utility is what CRO is used for proper now. Seeing that the undertaking has acquired over 3 million customers, all appears to be like good on that entrance.
Nevertheless, there are some necessary inflation concerns with CRO and doubtlessly 20 billion tokens being made to the Crypto.com group earlier than the tip of this 12 months. I am going into element on all that and the CRO token distribution on this vid.
🛑 Is It A Rip-off? 🛑
Browse Reddit for a couple of minutes and also you’ll see claims that Crypto.com is an elaborate rip-off or ponzi scheme. These suspicions appear fairly affordable on a floor stage whenever you take a look at the unbelievable crypto card perks on provide and the loopy Syndicate promos on the Crypto.com Alternate.
I imply, put it this fashion; if you happen to get a Crypto.com Ruby card and enroll by way of a referral hyperlink, that may price the undertaking about $256 and it appears very uncertain {that a} consumer is producing that a lot in charges. This is likely one of the key the explanation why folks assume Crypto.com is a ponzi. The logic is that these rewards are solely doable by the recruitment of latest prospects.
Nevertheless, folks shouting ‘ponzi scheme’ merely concentrate on one enterprise unit within the ecosystem just like the Crypto.com playing cards. I clarify within the video how Crypto.com are adopting a ‘loss chief’ enterprise technique right here and the way there’s logic to the seemingly unsustainable rewards and promos.
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📜 Disclaimer 📜
The knowledge contained herein is for informational functions solely. Nothing herein shall be construed to be monetary authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who shouldn’t be a licensed monetary advisor or registered funding advisor. Buying and selling Foreign exchange, cryptocurrencies and CFDs poses appreciable danger of loss. The speaker doesn’t assure any explicit consequence.
#crypto #CRO #MCO #card #trade #bitcoin #visa
Source: Coin Bureau
42 Responses
This was an interesting investigation that I wanted to do completely – hence the reason it took a bit of time. Glad you guys are giving constructive feedback. Don't forget to signup to my weekly newsletter: https://guy.coinbureau.com/signup/ , and my Telegram: https://t.me/cbinsider and check out all my deals / promos: https://guy.coinbureau.com/deals/
Hi Guy, are you able to find out how it’s possible MCO reached an all time high of $71 usd in the last 30 days and is still being traded on a number of websites, why is no one talking about this.
Let's go MCO $20 👍
But even if I try to sell my alt coins into cro they still want to give me 100 less value on a 2k trade without listing any fees for tax purposes is this normal ? I just realized I’m being screwed on all my trades !
I'm in the UK and can't withdraw my money? Can anyone help ???
Simple swap?????
Great video, your content is the best.. thank you and keep it going
reviewing whether something is a scam or not, complete with referral links to the same thing? hmmm….conflict of interest much?
Not for me thanks don't like the fact they control your money.
I'll give it a go. They do seem to be doing well now, and seem more practical in general when it comes to spending crypto. The whole thing seems like hurdles overcome to make a final product the right way, and it seems that is now the case.
Trust them again at your own risk.
It's that simple.
If it was intended to be a ponzi scheme it quickly outgrew that purpose and has become more profitable being a business, with that said the company does have questionable practices and EU have been waiting for months to receive their cards. The crypto verse is really experiencing a lot of growing pains
Crypto seems to be a hobby more than an investment, if this company can just take away their currency any company could.
Unsubscribe….. absolutely crap video and especially company – propaganda video
Afew Questions Guy!!
Well it is still sketchy that Crypto.com gives 12% for USD stable coin staking. Is it possible that that is a ponzy scheme? how can they provide such high returns? (see this link for the rewards they give out) https://help.crypto.com/en/articles/2996965-crypto-earn-how-does-it-work
is it possible that Crypto.com may get many people to stake their USD coins and then disappear with the staked money when they reach critical mass?
The debit card may not be a loss leader because crypto.com should be earning interchange income every time the card is swiped. Crypto.com should get a little bit of the merchant fees that are paid. Visa does get the biggest share of revenue. However, if card users are swiping their debit cards all the time, it could be a continuous revenue stream for years if the debit cards are actually being used.
so i bought some mco tokens last year and didnt pay any attension to them till now so what does one do with the mco tokens i have ?? any info guys
You're a top lad
13:52 a strategy used by many companies, also to wipe out competition
Hi Guy ! Incredible work to make this video, its a certitude. I learn a lot, and a lot informations to explore after this for me. Was it the TenX project ? I have some MCO to swap with CRO, is it possible again (2 september far away…) or just the possibility to sell to speculators ? Thanks again, I follow you now.
Hmmm…. read the reviews for using the app. I think I'm going to pass. Sounds tempting, but their whimsical policy changes raises red flags for financial trustworthiness. I'm not trusting my bucks to these guys. I was interested in the interest returns, but more interested in the return of my capital.
Just made a crypto.com account, and didn't add a referral friend. What is your referral code? I appreciate the content and would like to use your referral code.
I did not do the swap before NOv 2 , what can I do?
awesome video thanks. really good work. do you know which pot the stakes are distributed from? I guess the community development?
rev links in the discription always make the provided information look shady as fuck
pretty easy to get a good card right now
Nice and clear explanation.
But what if we still hold some MCOs ?
Does it don't have value at all?
What about MCOs people have with other exchanges?
Vastlinkshack com are incredible they got me 3 btc through their crypto mine i'm grateful
Hmmmm, very good video. I think they want to sell tonnes of crypto cards and have CRO stakes which boosts the coin price, and then dump their coins. Seems what they will be doing to me.
No way a customer generates enough margin to offset the outlay. Fishy!
Great video
The main reason for the swap was that crypto .comm had to keep buying MCO off the open market to pay card holders. It hurt their bottom line. So they got rid of the token. There were other factors too.
It’s a slimy company that betrayed its users. It’s not in my interest to say this because I still have CRO locked up for another few months that I want to sell out of. Can’t wait for that to get unlocked. (Why did I lock my funds up? —> to take part in the syndicates. Crypto .comm then changed the terms and conditions of the syndicate and now I am not eligible. So dodgy
I am still waiting for my card. I cannot withdraw any of my crypto which was not staked. I reached out to them several times and they keep say they working on it. Seems I been scammed.
take into account some of the users cant get the spotify/netflix rewards because we dont have the cards yet in our country,.
Cro is the same as binance coin right?
why do you not have a crypto.com referral link….? $50usd a signup
Thank you Guy, i am an avid user of Crypto.com and made a lot of money staking on the exchange so i am one of the happy ones. Ponzi no not as far as i am concerned.
Good analysis, subscribed. COIN BUREAU was mentioned in this post: https://twitter.com/BuroCrypto/status/1309408092778446848
I would just like to say that I'm VERY lucky to have gotten the 5000MCO tier card just weeks before the swap haopened. I ended getting something like +50% returns on my investment. Although it might've not been worth it still compared to CRO gains had I just been investing into that the whole time instead. Regardless I'm happy I still got some very good returns! 🙂👍
Crypto.com lock up my CRO for another 6 months at the Exchange due to this stupid swap. Sick.
I was just about to get their card and then the MCO swap began. I decided to hold off getting their card until the dust settled and I'm glad I did. If they are willing to screw you over once you can be darn sure they will do it again. I'm gonna pass on this card.
What do you mean by "YOU PEOPLE"??
Great video 👍🏻 well done
Hey I really enjoy your channel and your articles and reviews.
I have noticed that SpaceSwap has been going up a lot lately and can't find any recent news related to it,
do you know anything about it?. Keep up the great content.
Cheers!