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