yes guys welcome back to the channel as
always guys
has crypto.com pulled a fast one
on all of the mco token holders and
screwed us over guys is crypto.com a scam
right from this token swap right
uh guys in this video we're going to
talk about the token swap between mco
and cro the benefits the pros the cons
if it's good if it's bad
and in this video i'm going to tell you
whether i think it's overall good or bad
yet
for for crypto.com in general i'm going
to go through everything basically guys
just uh
go through the email and we're gonna
look at if
basically if it's better or not that's
what i'm trying to say but um yeah guys
really interesting stuff happening right
now so if you're new here please like
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and uh guys let's dive into the screens
now
they sent me an email let's read it out
now so it says in order to maximize the
benefits arising from increasing use of
blockchain technology streamline our
operations and leverage the advanced
capabilities of crypto.com chain that's
their blockchain
the cro token lives on that we are
implementing the mco swap program so
this process of swapping your nco and
the terms and conditions that apply to
this process basically they're going to
talk about in this so
they're they're a set below so it says
what is the mco swap program all about
so at its core mco is a blockchain based
okay we all know that uh so it says here
there will be no changes to this court
to the
the core functionality of the mcr tokens
it says but we are expanding mco
functionality
and representing it in a new way uh
specifically the mco swap program will
involve combining the current
functionalities of mco
with cros utility and the technology in
a one-stop shop token to enable a
streamlined crypto.com
ecosystem the swap program will also
serve to leverage the advanced
capabilities of the crypto.com chain as
well
in preparation for the upcoming
maintenance so guys basically to merge
it between mco and the cro token i did
always have in the back of my mind
whether crypto.com were going to do this
because you know they had the they had
the mco token and the cro and it does
create that a little bit more complexity
when you're staking to get a card when
you're trying to stake in the the
exchange side so
i did have the back of mind they were
going to do this anything which had been
mentioned before
they said no wasn't gonna happen so it's
interesting to see they're doing this at
the end of this video
i'm gonna do a bonus question in this
video as well which i like to do on this
channel but
i'm also gonna give you a little bit
more of my actual thoughts about this
whether it's good or bad
for token holders and that kind of stuff
but so let's talk about what you need to
do to get this swap before it ends it
says what you need to do between the 3rd
of august
and the 2nd of november mco holders can
swap mco through the crypto com app so
basically if you have any mco tokens
which aren't in the app
send them to the app and swap them over
and just to say guys everyone will have
to do this swap it's not like an
optional thing
everyone's gonna have to swap over to
cro tokens and i'll get into in a second
why i think that's a good or bad thing
but
everyone has to do this otherwise you
will lose those mcos so if you have them
in a different wallet like i did move
them over get them back on crypt.com do
the swap
they're actually doing a 20 bonus as
well we'll get into that in a second but
it says here guys
uh frau prevent prevention warning so
you got to do the swap
uh the swat formula you get so it says
here you get for every one mco you get
27
cro tokens so it says here the
participants will receive an early swap
bonus of 20
so i did it earlier had a certain amount
of mco and i got 20
more cro into that wallet it goes into
the exchange guys so you're not going to
get this directly into your wallet to
spend straight away it goes into the
exchange it's state for six months but
you
are getting sixteen percent ap um apy on
that
in interest so it it's locked up but
it's probably gonna turn into it
it will turn into about nine more a bit
less than that probably about you're
gonna get
six percent more after that actually
it's more than actually it's going to be
about a half of that so it's going to be
about you know 10
percent more give or take your eight
percent uh into the future so whatever
the amount it was you got in your
exchange wallet
that will be eight percent more in six
months and you'll be able to draw that
and sell it to whatever you want and to
be honest i'm gonna hold on to these
tokens anyway
because uh i see a lot of potential for
the demand that the mco token had for
the for the card and everything and all
those all those other things that you
used to do the
utility of your outputs on the screen
now i see a lot of the utility of the
mco
token obviously now pouring into cro
which is a positive thing but we'll get
into that in a second
um so also guys you got um so the mcr
swap rating including the early bonus so
you actually get
for one mco you're getting 33 cro which
i think is pretty darn good actually i'm
not gonna lie
considering that a lot of people who
just hold a cro no mco won't get that
bonus for swapping so i think that's
pretty darn good here's an interesting
thing as well it says about state tokens
so mco what they're staked
um if you had the mistake for the card
like i do they get transitioned over to
staked
cro tokens and some pretty interesting
stuff is this let me scroll down a
second so
uh for the card guys you know on this
channel i'll talk about the card all the
time put it on the screen now i
absolutely love the cards from
crypto.com
uh you get like up to five percent
cashback you know free spotify all these
kind of great things for staking the mca
token now that's gone guys there's no
mco token so
instead of staking mco tokens now 50 mco
you have to stake 5 000 cro tokens right
so this is a little bit of a jump up and
personally i think this is a bit of a
negative because
you're gonna have to stake more usd
value now to get that ruby red card if
you want it
or the next one up which will be the
blue still or whatever it is but
basically guys let me just explain this
right quite quickly so
it used to be 50m so now it's 5000 cro
with that 5 000 sierra stakes you'll get
free spotify and a few perks your free
spotify
but the 5m the 500 mco um
one the the that that kind of tier you
could call it uh
you now have to take 50 000 mco but when
you stake those 50 000 mco for the card
you actually start incuring you start
curing 16 percent interest on that
right now when you stake mco tokens to
get a card they kind of go into like
nothing you don't actually occur any
interest on it
so now when you stake for the card you
actually get 16
apy on that which is pretty darn good
guys considering that it's going to be
sitting there a little anyway
16 on top of that you know in a year's
time you've got like almost 20
more coins so pretty darn sweet
obviously it's annoying that it's five
five thousand cro now because it's a
little bit higher to get into the tiers
but 50 000 mco sorry 50 000 cro
is a little bit higher as well but then
you're getting that 16 so it's a little
bit of a two and throw here you've got
to state more but then you get rewards
so i i like i said guys at the end i'm
gonna do a summary of everything about
crypto.com
um overall but let's move on to the next
thing so let's talk about the mco token
and the utility of the mco tokens
and how that's going to move forward
into cro so we all know that the mco
token used to do the visa debit card so
when you state the mco you used to get a
visa debit card depending on your tier
also the crypto.com app the mco token
was needed and was used for utility wise
crypto crypto earn crypto credit and
crypto invest so
the more mco tokens you staked within
those platforms you would then get
better perks so whether you're investing
you get a better interest rate
whether you're taking a loan you get a
lower apr instead of an apy
so very interesting guys so what's going
to happen right so all of this utility
what the
mco token has is now going to pour into
the cro token i think this is actually a
positive thing let's get into the
positives the the negatives and the
positives right now so let's think about
this way right so all this utility the
mco token had is now going to pour into
the cro ticket so doing this swap
is going to mean that there's going to
be even more demand for cro and i'll put
it on the screen now the cro token and
we know guys that more demand equals
higher prices if the supply stays very
similar and there's gonna be more demand
now
i always thought because this is the
thing i was uh kind of hoping would
happen
i wanted to see the mco token in a way
stay on its own
because i saw a good use case a good
price level
for then more adoption to come in and
arise so that's not gonna happen anymore
so the mso token isn't around right so
now all that utility is moving to cro
so what i see is there's even gonna be
even more demand for cro tokens and with
all these staking
platforms i do believe that you know in
the long term guys
cro is probably still cheap today i'm
not saying there might not be pullbacks
we're gonna do more technical analysis
about cro now because i was doing a lot
of technicals on
mco because i saw mcos a more a better
time to a better price to buy in at
i'm going to do more technicals on cro
now because it's going to be a really
interesting dynamic because there's
going to be more demand now for the cro
token which is increasingly going to
push that price up
and guys because so many people are
staking the tokens there's not much
actually on the actual supply so
long term guys i think ciara's still a
good bet and they're giving you 20 more
so
that's a good thing i'm not annoyingly
yeah it's annoying that vmc tokens gone
because we
had high hopes for that pumping because
of the demand but
we still got cro so that's the pros of
the cons there obviously guys let me ask
you a question what do you think guys do
you like it do you think it's a good
idea a bad idea
are you skeptical comment below what you
think bonus question will be
uh the pro best best reason why this is
a good thing
also but worst reason and why comment
below guys i'll give you a whole load of
crypto i'll be doing like 25 dollars a
video recently so
in this video we'll just do i'll give
you a bucket of crypto but like 20 bucks
worth whatever you want best comment
below
