Crypto.com: Without MCO

Crypto.com: Without MCO

By Harshvardhan | theCryptoHub | 7 Aug 2020



Currently, I'm waiting to get my Crypto.com Visa Meatal card. Then this news drops down by Crypto.com: MCO will no longer be native coin of CdC, CRO will.

Last week for Crypto.com was roller coaster ride. They announce that MCO will be no more official coin of Crypto.com. CRO will be. All the available MCO you have, you can SWAP them on Crypto.com app and get 20% extra CRO.

MCO stands for Monaco Coin, from early days of Crypto.com. Then they brought CRO, Crypto.com Coin. And they made it complex for themselves by providing two native coins. Previously, they were offering Metal Visa Cards on staking MCO of different volumes from 50 MCO to 50000 MCO. Value of MCO was consistently around $4 to $5. So, it was quite expensive to stake and get Visa card. Which is now changed to 1000 CRO to 1,000,000 CRO. Which is way lesser than what MCO was offering. So now it starts from $160 instead of $200. CRO price is much more stronger than MCO. I mean I've seen only 2 major dips in CRO. So you should not worry about your staking. 

In my opinion, this is the great another chance to get into Crypto.com ecosystem. With less to pay...


Update:

Crypto.com have released following statement:

The Crypto.com ecosystem will use one streamlined token (CRO) with the combined functionality, rather than two separate tokens (CRO and MCO).

All functions currently attributed to MCO will still exist and will be preserved, but will be enhanced and represented by CRO.

MCO that is not swapped will still exist and circulate on the Ethereum blockchain as ERC-20 tokens, but Crypto.com will no longer support these tokens and no Crypto.com service or product will require or permit usage of these tokens.

 

What now?

To compensate for anger of their users, Crypto.com have added the functionality to swap MCO to CRO. With 20% bonus CRO, which will be staked for 180 days, before November 2. Strange enough, price of MCO have gone up a bit, because it's good deal to buy MCO and swap them for CRO and get 20% extra CRO!


 

Details:

For more detailed guide on MCO swap:

https://help.crypto.com/en/articles/4309688-mco-swap-program-a-guide


 

My Thought:

In my opinion, if you are holding any MCO sell them directly and get your bucks back. I'm going to swap some for a Visa Card. I also use Crypto.com exchange for fee-free trading and daily interests. So, I've no issue in 20% bonus getting staked. It is eventually gonna be in my hands.

With only one native coin, Crypto.com is making it more cleaner experience for it's users.

Thanks for reading my article :)


 

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Harshvardhan
Harshvardhan

Hey there, I'm Harshvardhan. I am a crypto and blockchain enthusiast and I believe that Blockchain is the future and cryptocurrencies are solution to current financial system. I'm a student by profession, sports analyst, trading crypto daily.


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