You may see quite often advertising about Crypto.com offering $50 for free in MCO. Which is monacoin token, and it is completely different than the second coin offered by Crypto.com, called CRO. Let me tell you step by step what you have to do, in order to unlock your coins that you may get for free, but are not really that free.
As the advertising is a bit mischivious and misleading. Here comes the contract and the very small letters behing it. As soon as you register, you may see the equivalent of 50$ in MCO token in your account. With an additional message: Unlock now!
You click on the link, hoping to have some easy task to perform. Oh, boy, you are so wrong! You may read two lines:
Line 1 - Reserve your Metal MCO Visa card
Line 2 - Stake at least 50 MCO.
So you check your account and let's say that you randomly got 9 MCO as your $50 bonus. If you think you may add 41 MCO in order to have 50 to stack, you are wrong again. You need to buy or transfer 50 MCO on your app, in order to stake 50, some other than your 9 mco that you had as bonus.
You may start by staking the 50 MCO. Don't do that. You will need to stake them as a collateral when you order the card. Don't do it before. As you try to unlock the card, you have few more conditions (four to be precise).
Condition 1 - You need to select your card that you want, and to check how many MCO tokens you need to hold/stake for 6 months for that specific card (50, 500, 5000 or 50.000 MCO, where 50 thousands MCO = 243 thousands dollars). Once you decided what card you have, just for fun let's say you just want the bonus, so you will order 50 MCO and stake them for 6 months when you order the card. You choose the card and put your MCO on staking for the next 6 months.
Condition 2 - Accept Card Terms and Conditions. Just for fun, read it. There are a lot of clauses and decisions that Crypto.com can take unilaterally, just because they can. I am not saying that they will, just that they can.
Condition 3 - Verify Residential address. You wanted your transactions to be anonymous and secret? You may wish. This being said, the current legislation is asking them to comply, if they want to operate in certain countries.
Condition 4 - This is the last one. Review and update the name on the card.
On top of this, you have two tokens, MCO and CRO. But if you think of them in terms of NEO and GAS (even if the comparation is a bit forced, because it is not quite like this), you may have an idea. MCO works for card related stuff, CRO works for the exchange, staking, paying fees and being used for promotions (which promotions are surprisingly good, i must to admit).
If you can put up with this, go ahead and do it. Get them $50! But do not think is a walk in the park. You need to lend them your money for 6 months, you need to give them personal information, and you need to agree with their conditions. Do not forget, MCO has only to do with the card related staking bonus. If you dare to venture on the exchange, you may need CRO.
How can they improve this? Education, they need to provide a bit more information about MCO, CRO, and how they are used. And they need to tell you that you need to stake 50MCO for 6 months in order to unlog your bonus. These are my only issues. If you want to buy MCO, I would suggest Binance. CRO is already present on many exchanges. And is quite good for staking, but, again, anything under 5000 CRO can be only used for soft staking (5% interest). More than 5000 CRO, you can stake for 20% interest, paid daily. And just for you to know, 5000 CRO are valued close to 0.13 BTC. Which can be a huge amount is you are living in a poor country (Yes, I am pointing at you, Romania).
The cards offer some amazing bonuses, depending what level you want to choose for your staking. The best one Black Obsidian (243.000 $ equivalent in MCO token staking for 6 months) is offering 5% cashback, is paying for your Spotify, Netflix and Amazon prime account, is giving you access for you and one guest in the Airport Lounge, and it is paying towards Expedia (50$) and Airbnb expenses (100$) every month. Also, you may have 8% in MCO stake rewards and an extra 2% for your other coin staking in your Crypto.com account.
That being said, next time when you see: Join Crypto.com for free $50 (my refferal is yk8zfhpkw2) or something similar, you will be fully informed and you will know what you have to do. And yes, if you may care, my refferal is yk8zfhpkw2 and my refferal link is this one. But I will not recommend this if you are not prepared to block some crypto for 6 months.
You may also like: How to become a crypto expert - Part 1 and Part 2
Take care!
G.
My crypto-related links (check ratings - 1 to 5 stars based on my personal experience)
Exchanges
***** Binance( good for staking/savings ) - link here
***** Kucoin( good for staking/savings ) - link here
***** Coinbase( ideal for beginners )- link here
Investments
**** BlockFi (decent interest rates, but less choices than Celsius) - link here
***** Celsius.network (good rates of interests and monthly codes for free crypto, 1235256530 => my referral for $10 bonus ) - link here
**** Coinbundle (investing in crypto bundles) - link here
**** Stakecube (staking, masternodes and very easy to claim faucets for 28 coins/tokens) - link here
Wallets for multiple cryptocurrencies
***** Coinpot - link here (microwallet for all Moon faucets, Bitfun and Bonusbitcoin)
***** Atomic wallet - link here (microwallet for Publish0x DAI, BAT and Loopring)
***** Sphere wallet (for Horizen, combined with the faucet for extra bonus) - link here
**** Crypto.com wallet (good interest staking and 50$ bonus in MCO) - link here
Free crypto (faucets and more)
****Lbry.tv (free crypto for watching or making videos) - link here
**** Bitfun( 3 min countdown - automatically deposit to Coinpot wallet ) - link here
*** Bonusbitcoin( 15 min countdown - automatically deposit to Coinpot wallet ) - link here
**** Moon Bitcoin ( 5 min countdown - automatically deposit to Coinpot wallet ) - link here
***** Horizen faucet ( 20 hours countdown - automatically deposit to Sphere wallet ) - link here
*** Tezos faucet ( 7 days countdown - automatically deposit to Coinbase or Binance wallet ) - link here
** Tron and other crypto faucet (24 hours countdown) - link here
Others
***** Publish0x blog (Free BAT, DAI and Loopring for reading/writing - can combine with Atomic wallet) - link here
***** Brave browser (Free BAT for using it, based on paid ads, very good AdBlocker and high speed) - link here
Disclaimer: This text also can be re-published on my personal blogs, such as this one.
