This was posted 4 years 2 months 28 days ago, and might be an out-dated deal.

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Refer and Get US $50 Each of MCO Tokens (after 6 Month Stake of 50 MCO Tokens) @ Crypto.com

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Refer and Get US $50 Each of MCO Tokens (after 6 Month Stake of 50 MCO Tokens) @ Crypto.com
Go to Deal
LDChiuch on 29/01/2020 - 16:36 help.crypto.com (144 clicks)
Last edited 29/01/2020 - 17:20 by 2 other users

Crypto.com is offering US$50 worth of MCO tokens each to the referrer and referee.

  1. Sign up using a referral link (available through the OzBargain system below).
  2. Pass ID verification (KYC).
  3. Buy 50 MCO tokens (worth around $377 at current prices, see: https://coinmarketcap.com/currencies/crypto-com/).
  4. "Stake" these tokens for 6 months (meaning lock them up on your account) - after 6 months the tokens can be sold again. As a bonus, staking 50 MCO also gets you access to a red tier VISA card, which gives you 2% cashback on purchases, and complimentary Spotify Premium.
  5. Both the referrer and referee both get US$50 worth of MCO tokens, which can be sold.

Full details: https://help.crypto.com/en/articles/3124990-bg50-referral-pr…

Risks: The 50 MCO tokens that you have to buy to get this deal could go up or down in value, so only do this if you are comfortable with the gamble.

This was just added to the OzBargain referral system, so I think by the guidelines it's okay to post as a deal.

Referral Links

Referral: random (257)

Both referrer and referee receive US$25 on sign up (NOTE: must stake at least A$500 CRO for 6 months). Turn off adblocker when attempting to obtain a referral link

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Crypto.com
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closed Comments

  • Willyslicks on 29/01/2020 - 16:42
    +4

    Sounds like a shitcoin

    • BluBoy on 29/01/2020 - 20:14
      +7

      Hijacking first coment to add my 2 sats.

      I know blockchain projects are rarely liked on here… But I've been using crypto.com for about 2 years now and have been pretty happy with it all.

      My main use is the crypto backed credit card (spend your BTC at any shop that accepts VISA), but the mobile crypto wallet has been pretty handy recently too.
      Add in cashback, free spotify/netflix, staking rewards paying a high interest than most banks, Managed crypto fund etc, its a decent ecosystem for crypto.

      I saw the team present and got to speak to them directly. While they could be good at hiding it, I didnt get any sort of scam alerts going off in my head.
      As background: I have met with dozens (maybe closer to 100?) of blockchain leaders - And it is very rare that I walk away with this level of confidence in them.

      The team have also been reviewed, audited or certified by VISA, a qualified security auditor for the payment card industry security standards council (PCI-SSC), International Organization for Standardization, etc etc. This is not an overnight scam. I've known the project for about 3 years now, and I'm sure it existed well before then as well.

      Disclosure: I hold MCO (as well as CRO), but have no affiliation with the crypto.com team. My referral link is NOT in the OzBargain system (only because I didn't know it existed until now). I'm happy to answer any questions you have about their project, but their telegram channel is always staffed and significantly more knowledgeable than me!

  • RedLights on 29/01/2020 - 16:42
    +4

    lol this is literally a forced pump and dump scheme.

  • iwantaphone on 29/01/2020 - 16:50
    +1

    This is a very complicated pyramid scheme

  • spackbace on 29/01/2020 - 16:54
    +12

    So wait, in order to get US$50 worth of a random crypto-currency, you need to buy around AU$377 of it…? And then leave it there for 6 months, and hope it doesn't drop to $0

    Not a bargain, and could potentially see people losing money just for your brief referral grab

    so only do this if you are comfortable with the gamble.

    Last I checked, gambling deals were banned on here

    • halfnhalf71 on 30/01/2020 - 12:01

      I guess then investing in shares is gambling? It's the same premise.
      Yes crypto fluctuates a lot but MCO is one of the more stable coins, have a look at its history.

      • spackbace on 30/01/2020 - 12:02

        I guess then investing in shares is gambling?

        Last I checked, we don't post deals for specific shares

        If we did, and it went along OP's post, it would be along the lines of:

        Telstra Shares - Bonus $50 (Minimum Purchase $377) - Must Be Held For 6 Months

        And would get the same negs

        This is referral farming, it's all it is. OP last posted in 2017 (a classifieds post), last commented March 2019 and has never voted on any other deal. Hell they haven't even commented in their own post here.

        Motivations for posting are obvious.

  • oneland on 29/01/2020 - 16:54
    +3

    This is not a bargain!

  • chrism238 on 29/01/2020 - 16:56
    +1

    I'm guessing no BSB number?

  • mr_asstight on 29/01/2020 - 17:01
    +2

    Any project that issues a token is basically a scam. 99% of the crap don’t need to be on a blockchain

  • Baysew on 29/01/2020 - 17:19
    +2

    Did you get paid to post this?

  • Adamarc on 29/01/2020 - 17:34
    +4

    For anyone who wants more information I did a write up https://www.ozbargain.com.au/node/509176

    Goes through my experience and some more in-depth than just the signup process

    There are also other real world users who share their experience

    They are up and coming and will be amazing in future in my opinion, just remember they are still only two-three years old and in a few months will have some better products than banks.

    For a community that loves cashback it's really interesting to see this negative reaction due to crypto stigma/ a diffrent business model than traditional finance

    • spackbace on 29/01/2020 - 17:38

      For transparency, do you have a referral link in the system?

      • Adamarc on 29/01/2020 - 17:46
        +3

        When I did the write up , it was not in the OzBargain system so I was not allowed to post it.

        I do have a refferal link but I'd rather not post it as that would bad faith for the original poster

    • SBOB on 29/01/2020 - 17:49
      +3

      For a community that loves cashback

      but its not a cashback
      its a staking reward, and there's no way to know whether the MCO tokens in 6months time will have risen or fallen in value

      Surely the history of most coins in crypto over the last couple of years are a clear indication that its far from a stable market with definitive price movement/trends

      • Adamarc on 29/01/2020 - 18:03

        No the cashback part of the card is at 2% at the time of purchase paid instantly aka you spend 100$ u get $2 in mco paid back

        Right now there's a limit of 4.5 token to sell to the card, but they are working on removing that limitation (new company remember)

        Once removed you'll get cashback from your spending 2% and be able to sell that cashback in mco instantly to be used on the card again

        The whole locking does have risk but if you use the card enough, the free Spotify & 2% cashback and the 50usd worth of refferal at the same will get you to what you invested intitally in the project depending on your spend.

        Being clear here at this stage I still l think this is for people who can deal with a few inconveniences & early adopters,

        When bank transfers & limits are removed it will be much better for Mass adoption

        & Also when they offer their free card when it's & Australian issuer

        • Antikythera on 29/01/2020 - 19:35

          so cashback or MCO back? cos there is a difference

  • igordennis on 29/01/2020 - 17:43
    +4

    Too risky of a "deal".

  • PirateKingJack on 29/01/2020 - 18:12
    +6

    "Let me assure you that this is not one of those shady pyramid schemes you've been hearing about. No sir. Our model is the trapezoid!"

  • ggkfc on 29/01/2020 - 19:31
    +2

    when you see step 3 and don't realize you are getting scammed you are the bagholder

  • BuyLowLetsGo on 29/01/2020 - 19:49

    hahahahahhaha what a scam of a shitcoin.

    Put your $377 into BTC instead. It has a higher probability of appreciation vs this "gamble" within the 6 month timeframe.

    Buyer beware…

  • coolsteps on 29/01/2020 - 23:51

    How does this compare to the https://wirexapp.com/en card? i dont think you have to risk Buying 50 MCO tokens (worth around $377 to get a free wirex visa debit card that generates up to 1.5% back in your BTC account for all purchases?

  • Baysew on 30/01/2020 - 09:19

    only do this if you are comfortable with the gamble.

    Doesn't get any clearer why this should be avoided.

    • "A fool as their money is soon parted"
  • Shard on 30/01/2020 - 09:21

    Downvoting lest OzBargain be overrun with crypto scams (read: bagholders offloading onto gullible suckers).

  • Ruisu on 30/01/2020 - 09:24

    Isn't there fees on top associated with transferring funds or buying crypto?

    • ph81 on 23/02/2020 - 17:27

      Jump onto their Telegram group if you're keen to ask questions. 👍

  • Ramrunner on 30/01/2020 - 11:26

    Oh boy - another coin/token scheme. This post really is not a bargain due to being a possibility of no intrinsic value at all in 6 months time. Negged.

  • ph81 on 23/02/2020 - 17:26

    All I see here is people that have no idea what they're talking about or has lost money. They then refuse to be honest and upfront that they lost money because they didn't actually know what they were doing and proceed to call everything a scam because of it.

    The deal is real. Yes, I have a card, use it everyday and laugh at the sheep using their big 4 card. If people actually did some active research, they could've staked when it was half the price and doubled your money. You could have then proceeded to get the rewards on it and turn back into cash and spend them.

    I love Ozbargain, but geez there's some ignorant and uneducated people that lurk here.

    • Ramrunner on 24/02/2020 - 09:03

      You are correct - I have lost money. I still hold a lot of my coins and to be fair they have recovered a little, so I'll just hold on to them, but that's not the point.

      There ARE a heap of scams and dodgy crypto dealings that murk the whole crypto waters. It is a FACT a lot of these coin start ups make the original coin creator(s) a lot of money, then they dump and run.

      It is a FACT that there have been numerous thefts/hacks that have taken crypto from innocent users.

      https://www.businessinsider.com/the-biggest-cryptocurrency-s…

      That's not why the post was negged, it is simply because it cannot be classified as a bargain. I liken it to buying shares. Yes you can win and lose, but is it a BARGAIN?

      Do we need to post shares and their prices here each time they drop a few percent?

      The OzBargain deals pages I believe are simply not the place to be posting stuff like this. I want genuine bargains with real monetary value.

      But I appreciate your point. Ignorant is a very personal and strong word to use though. A bit unnecessary.

  • JHoliday on 20/05/2020 - 13:38

    Can someone provide some short instructions for the best way to sell the 3200 CRO and transfer this back to my bank account?

    Can I do it directly from Crypto.com or do I have to transfer to CoinJar?

    • wangasm on 24/05/2020 - 16:47
      +1

      I believe crypto.com/banks will have hefty fees to transfer fiat back to an Australian bank account via SWIFT. The best way would be to convert the CRO to a coin that has low transfer fees like LTC (0.001 LTC) or XRP (1 XRP), then transfer that to an exchange supporting AUD like Coinspot/Coinjar/BTC Markets. Sell it for AUD and finally withdraw it back to your bank account with no fees.

      • JHoliday on 21/09/2020 - 20:07

        Is that still the case now that they support AUD bank transfers?

        • wangasm on 21/09/2020 - 20:31

          It's much easier to use the in-built AUD withdrawals now. You'll lose 0.5-1% value but that's roughly the same as trading it for AUD on an exchange depending how much you trade.

  • simeonpanda on 25/05/2020 - 16:00

    FYI - the referral link opens up a new website with a blank referral code. To bypass this you'll need to open the link up in incognito.

    • wangasm on 25/05/2020 - 19:21

      Doesn't work on Firefox sadly. But I worked out the page is redirecting from the URL with the code you can copy, which should be in your browser history.
      It looks like https://platinum.crypto.com/r/<code>

  • JHoliday on 08/08/2020 - 18:16

    Looks like they've changed from MCO to CRO… new users have to stake 1000 CRO for $50 in 6 months… how do I see the value of 1000 CRO?

    Is CRO less of a gamble and a better coin than MCO that everyone was bagging above?

    • wangasm on 09/08/2020 - 14:14
      +1

      See my posts here for more info https://www.ozbargain.com.au/comment/9094170/redir

      CRO has a larger market cap and is being more actively developed/marketed than MCO was. So you could argue it is better. But in the world of crypto nothing is ever certain.

  • JHoliday on 21/09/2020 - 20:07

    Anyone else’s balance significantly reduce today?

    My crypto.com account is down US$300

    Might be just a display error since they were doing maintenance today??

    • wangasm on 21/09/2020 - 20:33
      +1

      If you had coin on the exchange it will exclude that since it is currently still down. Also CRO did take a bit of a dip today.

      • JHoliday on 21/09/2020 - 20:34

        Phew thanks for reassuring me. I must have had coin on the Exchange then.

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