Crypto.com and MCO

[Anonymous No.18320205]

Holy FUCK is this a comfy hold or what? I can't believe people missed this dip.

[Anonymous No.18320750]

I just upgraded to jade green :)

[Anonymous No.18320996]

>>18320205
it's a literal open ponzi scheme.
they're paying out old investors from new investors' money, there's no other way they can give out the cashbacks.
if they lost getting new investors today, they'd quickly run out of money to run their scheme.

soooo, you can risk it if you feel like it's worth it, but the only thing that seperates them from bitconnect is that they offer less greedy rewards, hence they might sustain longer, but everybody knows their business model is not sustainable for long.

that said, there were plenty of people ending up making money on bitconnect, so good luck

[Anonymous No.18321011]

i must admit its unbelievably great
im up 50% on my investment since february

[Anonymous No.18321021]

>>18320205
it's a literal open ponzi scheme.
they're paying out old investors from new investors' money, there's no other way they can give out the cashbacks.
if they lost getting new investors today, they'd quickly run out of money to run their scheme.

soooo, you can risk it if you feel like it's worth it, but the only thing that seperates them from bitconnect is that they offer less greedy rewards, hence they might sustain longer, but everybody knows their business model is not sustainable for long (can only be sustained as long as there are new people willing to invest).

that said, there were plenty of people ending up making money on bitconnect, so good luck

[Anonymous No.18322293]

>>18321021
elaborate.

[Anonymous No.18322433]

>>18322293
well basically it's like bitconnect with extra steps. some anons claim that having 'bank' with 'deposit interest' is redundant in crypto or shouldn't work at all and therefore claim that any such company is just in slow perpetual exitscam'ing mode.

[Anonymous No.18322547]

>>18322433
No, interest can work for legitimate companies with legitimate loan checking and whatnot.
Paying you insane levels of extra interest, independent on what and how much you deposit to them, just for pumping their tokens and vowing to not dump for 6 months? Scam.
Not to mention the credit card cashback. There is absolutely no legitimate institution that offers cashback on arbitrary online payments, because Visa doesn't pay them for those. It's okay to offer cashback for payment at specific companies, but not on all payments like they do.
It's obviously a system that relies on constant inflow of new money to keep its guarantees.

[Anonymous No.18322554]

>>18322433
Isn't that the case foe exchanges too. Binance and coingbase offer similar programs where clients deposit their funds and receive interest? I agree that crypto's interest rates are suspiciously high but they reduced them sometime this week iirc

[Anonymous No.18322611]

>>18322554
binance/coinbase/bitfinex lends deposited funds out directly to users who pay more interest to them for it. it's a transparent system and everyone knows what's going on.

who pays crypto.com the kind of interest they pay out for their highest tier investors? no one

[Anonymous No.18322664]

>>18322611
Good points, I'll take it. Can you give a rundown to a brainlet about how users pay more interest on said lent funds from these exchanges? I'm about to run the numbers as good as my numb brain allows me. I can trust coinbase as they have a minimum that a user has to have in order to receive interest and afaik they dont have lending options like binance and bitfinex(?) have

[Anonymous No.18322811]

>>18322664
well i know bitfinex system the best so i'll explain how it works.

you have 100 ETH and like it as an investment, so you are willing to hold for some longer amount and lose the ability to sell it.

you make an offer. on bitfinex can choose length between 2-30 days, and have a book of offers you are bidding against, like when you want to sell crypto directly you need to make an offer that will be better than any other on the market.
so you pick a % (the daily interest you receive) that you think will be taken by someone (not many people will make better offers than you)


now, someone believes ETH will fall in short-term compared to some other asset (like USD, BTC), they don't hold any ETH, but want to profit off the crash. which means they borrow your ETH and will have to give it back to you in a few days with the added interest rate. they sell your ETH for whatever asset they believe will perform better in the coming days than it wilk.
if ETH actually dumps, they buy back the amount they owe you for the other asset, and can keep the rest of the other asset.
if ETH actually starts to moon hard, bitfinex automatically market sells their assets to reimburse your ETH. so you cannot lose your asset during the process. they aren't allowed to remove funds from the exchange until they have paid their loans back.

[Anonymous No.18322889]

>>18322554
I'm not sure I'm on board with INTEREST IS A SCAM. We see this happen on a defi scale, we see it happen on a crypto scale, why is this revolutionary and a scam? Banks pay you chump change on your investments, but loan it out at 25 percent for credit cards, and they have all that unnecessary overhead.

[Anonymous No.18322915]

>>18322664
so idk how coinbase interest works exactly, but according to this article

https://techcrunch.com/2020/03/25/coinbase-wallet-lets-you-earn-interest-with-deeper-defi-integration/

they do something similar, just more complex and decentralized. they have systems where users deposit funds as collateral and borrow something else that it covers. then, i assume, they short-sell those tokens, or hold for forks or whatever. but the point is the system is still transparent and the funds loaned out are still collateralized.

[Anonymous No.18322935]

>>18322889
the point is that crypto.com asks lower interest from loaners than it pays out to lenders.
what do you think the difference is financed from?

[Anonymous No.18322961]

>>18322935
not to mention with exchanges the interest rates are dynamic, because they don't know how much they can loan out in the future, and only take deposits that they can guarantee.
crypto.com has high fixed interest rates. if peopel stop loaning any crypto from them tomorrow, they'd still have to pay them out.
not at all how it works at exchanges.

[Anonymous No.18322964]

>>18322811
I got a brief understanding of what you want to ssay and the fud is getting to me. Also you being blessed with digits makes me take you seriously. Tbh I haven't looked into their loan scheme but I have to do some proper homework before proceding any further.

[Anonymous No.18323021]

>>18322915
I had no idea about this and I'm pretty oblivious to the whole defi thing. As far as I have seen they are lowering the interest from lending your coins as of this week with CRO having the highest rate around 18% (still suspiciously high immo) and cryptos like BTC ETH and LINK are around 6% max. One one hand I'm kinda mad at you but you gave me a good starting point as to what I should study next. Thanks for the fud fuckface. Love you

[Anonymous No.18323052]

>>18322935
What rates are you referring to? 12 percent/8 percent seems about on par with what I see in most of the crypto space. I would see how the 8 percent gets sketchy, but the 12 percent seems fine. The only high interest they really pay is through stablecoins and their memeass CRO. But keep in mind that those rates entail locking up your tokens for either three months or a month. From a business perspective, that keeps the rug from being pulled out from underneath them for those high rates.

For me, I see zero problem with their interest rate model for loans and holdings. Defi has proved it can be done, and crypto.com certainly isn't the only one in the space doing it. For me, the problems lie more in their card benefits. Those seem sketch, and the 500 MCO tier does seem too good to be true. However, crypto.com isn't exactly new to the space, and are on record saying that the benefits will be cut. Hell, btc rate has gone down in the past year. I do hope they add more transparency, but I think this isn't as cut and dry as its been portrayed. Currently, the name of the game is USERS USERS USERS.

[Anonymous No.18323276]

>>18323052
>Currently, the name of the game is USERS USERS USERS.
How is that different from what the dude said about their model relying on new users/money coming in? If there is a difference between lender-loaner interest to be paid, they need to pay out of pocket or by new users' money

[Anonymous No.18323312]

MCO has been a solid fucking investment. The more cards that get in people's hands the better to lock up more MCO.

[Anonymous No.18323328]

>>18323276
They have currently cut the btc 3month by ~3.5% p.a, or around d 35% lower payments annually. If I had to guess, they will continue to neck down interest on low profit currencies to keep thier margins larger. I would be more concerned if they started pumping thier interest rates higher. They also cut links p.a. by 25% in the last 2 months.

[Anonymous No.18323506]

>>18323328
I know, I received an email earlier today that they will cut interests across the board as of 4/7. What got me worried and will have to look into as soon as time allows me is the difference between the loan and lending interest differences. I hold my meager stack there so losing it will JUST me hence I have to get to know the space better before throwing more money there.

[Anonymous No.18323786]

>>18323506
Read again. Their BTC and ETH interest rates are going up slightly.

[Anonymous No.18323877]

>>18320205
I've put both on crypto earn and just let it build up for 3 months. Will probably sell the other coins in May.

[Anonymous No.18324058]

>>18323052
>are on record saying that the benefits will be cut
SOURCE? THEY'RE STILL GAMBLING RIGHT NOW THOUGH

[Anonymous No.18324224]

>>18323276
It's not. But let's clarify that this alone doesn't make it a ponzi scheme. The cost of onboarding new users to use banking services is pretty small, it's the initial cost of setting up said institution that rapes the bottom line. So, once they have enough users, they make more than enough on all the fees.

>>18324058
On an AMA somewhere. Ask reddit, not a shitpost. The rates aren't gonna be this high forever.

[Anonymous No.18324353]

>>18324224
ITT op shilling and defending crypto.com at all cost
this the effect of getting clueless newcomers to buy large amounts of your bags then force them to hold for 6 months

[Anonymous No.18324435]

>>18324353
OH NO FIVE POSTS? ON QUESTIONS SOMEONE WHO LIKES A PROJECT CAN ANSWER? THIS MUST BE THE DISCORD TRANNY SHILLS /pol/ TOLD ME ABOUT

[Anonymous No.18324483]

>>18320205
Yeah this project is pretty sexy

[Anonymous No.18324573]

>>18324224
>The cost of onboarding new users to use banking services is pretty small
Do you mean the profit? I can't really make sense of what you say on that second sentence. Making money from fees makes some sense but they have smaller fees than goybase but still does not justify their high rates. We can speculate but they need to have repeated purchases from already existing customers and desu I use them more than coinbase bc its faster and has smaller fees so idk.

[Anonymous No.18324687]

>>18324573
Sorry I guess I said it retardedly.

What I mean is that I don't believe it's expensive to add new users and give them perks. But it is probably expensive just to run the basic system, apply for licenses, and keep servers running. So they can add new users cheaply, and the more they spend and use, the more they get out of it with little loss to the bottom line.

I'm just guessing on that, but I think it makes sense.

[Anonymous No.18325180]

>>18324687
That's what i guessed. The thing is I'm still new to crypto despite spending the past 3 years mainly on this board trying to learn as much as possible in whatever time wagecucking leaves me so I will trust strangers with better digits. I missed sub $1 LINK and fell for a few scams that make me seethe to this day so I will try to act accordingly this time. Sorry fren

[Anonymous No.18325233]

>>18325180
Honestly the Golden rule is always don't invest anything you aren't prepared to lose. But I trust MCO more than a lot of the other shit that is shilled day in and day out on this trashfire.

[Anonymous No.18325283]

>>18325233
>mfw I only have 50 MCO to get the spotify rebate and have about 25k CRO
I'm pretty sure after years of doing drugs my iq is on the double digits by now. Don't ask what other retarded things I'v done to my stack

[Anonymous No.18325335]

>>18325283
We all fuck up. I am all in on fantom and PNK, so ask me how retarded I am kek.

As long as you learn from mistakes, you will get better. But you gotta lose a lot of money before you start to make it. Imho, the 50 MCO is a modest amount and I think if you have doubts, it's a good tier to stay at because the Spotify rebate alone will pay for itself after a while, and the card has decent benefits. I'm getting to 500 for the Netflix benefit as well as getting interest on the held MCO, and I really think that if crypto.com wasn't here to stay, the there have been plenty of chances for them to do so. I like it more than I like coinbase myself, but coinbase has coinbase pro going for it. Hoping we see the exchange in burgerland this year...but a nerfed version would be nice as well.

[Anonymous No.18325351]

>>18325335
OH and ps, I would see us doing another retrace to 4 if you want to wait. But it will take a other fat bitcoin dump to do it. At worst, we see a retrace to 4.50-5 range.

[Anonymous No.18325359]

>>18322293
>elaborate
Yes, it's an elaborate ponzi scheme

[Anonymous No.18325456]

>>18325335
As i posted earlier, i buy mainly from crypto.com as it's faster and has lower fees. I'm dipping my roes with their exchange but it has abysmal volume and most of it is bots imo. Tbh I haven't done much research on either CRO or MCO and just fomoed in when they were arounf 0.03 and 2.5 a few months ago bc I'm a retarded poor eurofag. I also expect a retracement for BTC which imo will depend how high will this rally will take it. I'm buying some tether soon since I'm getting a few shifts back but will stop buying CRO and keep buying ETH, LINK and MCO depending how much I can save up. I'm not a bear but poordom makes me wish for some dumps. It's a pain in the ass when i miss dumps. Not sorry for the blog

[Anonymous No.18325527]

I've got the Jade Green 500MCO card and have all my crypto's earning on their platform. Have over 50,000 CRO as well.
The 3% card cashback is for everything. Now with COVID-19 they've waived all credit card fee's and are offering 20% cash back for ubereats and other food delivery services.
Bought 200oz of silver with it and got US$80 back.
I unironically believe this will be the platform that achieves mass crypto adoption.
If any of you frens are thinking about joining we each get US$50 if you put in my code: thwxuye5y9

[Anonymous No.18325745]

>>18325456
IMHO cro is a bad long term hold. The smart contract enables inflation. May have OK benefits, but I think MCO is a great hold because it has a fixed amount. Bullish for early adopters because it means not everyone can have the benefits of jade green. Just my two cents.

[Anonymous No.18325810]

>>18325335
I forgot to say that fantom is probably a loser but PNK is heavily shilled and with many memes that will probably make it moon. I'm kinda salty I didn't buy any but I have to get back to ETH and LINK as I have no idea whatPNK is or does desu
>>18325745
I have to agree. I'm pretty much done with CRO. I just rushed into it to get advantage of higher interest rate on LINK and stablecoins. I will probably throw some ££ along with LINK and ETH but i doubt I'll get anywhere near 500 but I wil accumulate. Unless a fucking bullrun comes and I get priced out of everything. Again

[Anonymous No.18325856]

>>18325810
DESU, swap for bitcoin. I am bullish on eth as well, but bitcoin is far from dead and I think it is a corner of any good portfolio.

Also yeah, fantom may be a loser. I'm still hopeful but I think I'm gonna be down for a year. I'm arguably more optimistic on it than PNK for a memeshot, but I'm fucking gay so what do I know?

[Anonymous No.18325860]

>>18325456
If you get like a 500 mco lockup you get no fees. Then xfer to coinbase for free. Ezpz
Pic related

[Anonymous No.18325995]

>>18325856
Swap what for for bitcoin? CRO? Maybe i'll do it if I get to 500 MCO and get 0 fees as in >>18325860. I will probably keep the CRO and keep buying the 3 I said and maybe some bitcoin depending how low it will get after this pump and depending how the du flu will fuck up the economy. It's gonna be hard though bc Europe pays shit and I'm stuck in a literal wagecage job so I'm pretty much living like oatbro in order to save up. Also why do you believe FTM has more potential> I know it's been shilled here for ages but PNK has some heavy shilling the past few months despite being around long enough. Don't bother answering bc you'll answer to a retard who fell for fucking harmony. idk man, i'll have to run the numbers once I sort out my shit and manage to sell some of my vidya on ebay and buy some mor memecoins with that.

[Anonymous No.18326017]

>>18325810
Thank you for giving me a reason to shill PNK. I will never stop. I love it.

[Anonymous No.18326106]

>>18320205
ive used crypto.com for a long time and there is routinely outages with it and the app will take at least 10mins sometimes to even load in market/wallet data before u can even do anything. they need to desperately fix that because i market sold my 3k MCO a few months ago bc their service just sucks so bad. i had over 100k in crypto on the app but when their app and service isnt functioning properly i got scared i'd never be able to get my money out so until they sort their shit out my money is in decentralized wallets. its still way too "early access" of a service for my taste

[Anonymous No.18326151]

>>18326106
>Retard detected
Literally none of what you just said is true.
Been using this shit seamlessly for the last year, never had a single issue, and they are super prompt to answer any questions. They have one of the best customer service departments in crypto IMO.

[Anonymous No.18326157]

another major issue i had with crypto.com is their VISA card.
i had the 500 MCO card for over a year and lots and lots of places wont accept the card, as an example UBER wont accept a MCO VISA as a form of payment. tons of other retailers who accept VISA for some strange reason wont let you pay with your MCO VISA card.
and come on, if i got a card for payments in my wallet that only works literally half the time, and im locking up a few grand just to have the "benefits" of that card, the shit is just a broken scam.

until their cards FUCKING WORK EVERYWHERE. im not touching this shit again. the earn program is nice but as other anons have pointed out the whole crypto.com scheme is just an elaborate ponzi. and even in their TOS, if something was to happen to their services, they legally dont have to do shit about giving you your crypto back.

>>18326151
kys u fucking paid shill

[Anonymous No.18326192]

>>18326157
Fuck off you useless knuckle dragging mongoloid! You're going to come on here and fucking lie about some shit that is easily verifiable? KYS for being such a useless twat waffle!

[Anonymous No.18326232]

>>18320205
Imagine actually holding this shit in 2020. The worst. If you're not balls deep in CKB right now you cannot be helped.

[Anonymous No.18326274]

>>18326192
kys you literal paid fucking super seething pajeet shill.
i know what im talking about crypto.com service is only 70% reliable.
i bet you dont even have a MCO VISA u fucking literal paid shill. go back to your designated shitting street
and subsequently this shit IS A FUCKING PONZI like bitconnect fucking was.
get bat aids you pathetic fucking double nigger

[Anonymous No.18326323]

>>18326274
You are so fucking full of shit! You have a card, congrats! Literally every fucking thing else is complete bullshit! KYS faggot!

[Anonymous No.18326361]

>>18326323
nice cope faggot.

THANKS FOR BUYING MY BAGS RETARD

[Anonymous No.18326439]

>>18326274
I have Jade green and it always works for me, but I do believe you. Personally all my monthly crypto savings is mostly split between BTC and MCO. I hope to upgrade to icy white

[Anonymous No.18326453]

>>18320205
Try pulling out pro tip you cant

[Anonymous No.18326464]

Just got the ruby red and seriously considering going for green. Zero fees when buying crypto for next 3 months is sweet

[Anonymous No.18327009]

>>18326106
I'm so fucking salty when people like you got such stacks but I get your point and I agree. Their app is still slow but they have made some progress lately. It's not as slow as it was a few months ago but it's still laggy.

Also, them having an app only was a red flag for me. inb4 they have a site now, they have a site for the exchange, whose volume is purely bots that I have the suspicion pumpand dump the MCO and CRO prices whenever they feel like doing so.

[Anonymous No.18328181]

Comfy hold confirmed.

Let me explain the business model for brainlets
>Crazy good benefits for high tier cards, high risk of it means not many people actually bought before product released, they already had heaps of cash from monaco ICO
>They sold a shitload of MCO at the top of 2017, even if they stopped getting any more revenue they have enough cash reserves to pay current card holders for 5 years.
>Now the cards are working and people have confidence they are buying the cards, high tier cards cannot be obtained in bulk because the price would skyrocket, the low tier cards will sell in bulk and produce enough revenue to pay out the few that hold the high tier cards.

HAVE AN EXIT STRATEGY
>When interest rates start going down (they update them at will) this means they are not getting the expected revenue from low tier cards.

Similar to a normal credit card model, the smart ones who never miss payment get the rewards that are paid for by the roasties who end up paying 20% interest for 10+ years on a perpetual balance they accumulate on buying dumb shit.

[Anonymous No.18328265]

Ive got Jade green, going to keep staking until I see signs of stake risk worth less than rewards. Open a short to hedge my position or just unstake and dump 450 MCO, keep using card with just 50MCO staked so still get some benefits.

DO NOT BE A BRAINLET AND ENTER 180 DAY STAKE AT THE TOP. YOU ARE FORCED TO BAGHOLD ALL THE WAY TO ZERO IF IT FAILS.

If they get a proper exchange running then they will overtake binance, if they dont then they will reduce stake rewards to 0.5% or something. Thats the difference between this and bitconnect, the interest rates are not fixed, they can change them whenever they want so they dont collapse.

T. this looked to good to be true but

[Anonymous No.18328448]

Cont..

done my research on this, advise all to do the same. Go look at subreddit for it, so many normies are obsessed with getting "high status cards" and are buying every single dip this coin has.

Look at the charts, when bitcoin dumps, MCO/BTC price moons, USD price drops much less, unlike other coins people aggressively buy the dip because they want to be able to show each upgrade to the next tier card to other reddit fags, they dont think about the risk at all.

>>18320205
>>18321011
High IQ if researched and already out of staking period

>>18321021
>>18322889
High IQ to see its to good to be true, but look at the business model, the revenue is not coming from cloud mining or whatever bullshit bitconnect had, its a loss leader to entice people in and when they have a big userbase they will drop interest rates and make cash from exchange fees, spot markup and low tier cards.

>>18326464
>>18320750
Only stake if you are happy to lose the 2.5k current value for this card.

Screncap my posts, this coin will either moon or fail for the exact reasons I have said.

[Anonymous No.18328462]

>he isn't using the crypto.com app to earn interest on his crypto holdings

[Anonymous No.18328507]

>>18328462
>Holding crypto coins on an app
If its more than 5% of your stack you are a brainlet. Only MCO and small amount of USDT is worth keeping on app.

You are a sub 80 IQ brainlet to risk your BTC, ETH ect stack for 3% interest.

[Anonymous No.18328514]

>>18328507
My stacks have been earning interest and gaining principal. Stay mad poorfag

[Anonymous No.18328552]

This company is leading the entire crypto market with its licenses and insurances. No other company is close. I have all my crypto's on it earning.
When their prepaid debit card becomes a true debit card MCO is gonna skyrocket undoubtedly. Only a matter of months now.

[Anonymous No.18328563]

>>18328514
>HURDUR my bitconnect is earning me 12% daily. Why keep any money out of bitconnect
You are the obvious poorfag, your stack must be so small for the risk of losing it all to be worth only 3.5% interest PER YEAR.
Literally just buy increase your stack by 5% with cash and hold on cold wallet and you have the same amount of bitcoin but 0 risk of it being lost to some chink in hong kong. As if 3.5% per year is even worth it for an asset class that does those kind of moves daily. Learn basic TA and you can increase your stack by way more than 3.5% a year price action trading.

[Anonymous No.18328573]

>>18328563
stay mad poorfag

[Anonymous No.18328596]

Would definitely get one of their cool metal cards but yaaa me doesn't trust chink coins.

[Anonymous No.18328696]

>>18328573
Read my posts, I am holding this coin and confident in it mooning, I make more than 3.5% per year price action trading coins I dont hold on crypto.com

Congrats on being an NPC, make an argument or timestamp a pic of anything to prove you are not a larping poorfag.