On August 3rd 2020, Crypto.com announced they will no longer support the MCO token. Instead they are urging all current MCO holders to switch to CRO by giving +20% extra value in CRO when swapping before September 3rd (using the App – instructions below).
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.
This news comes as no surprise really considering the MCO brand is being phased out by the company and all their services now promote the CRO token as the main utility token.
Current MCO debit card holders can perform the swap using their crypto.com mobile app (scroll to the bottom and click on the MCO / CRO Swap button).
Once done your transaction history will display the conversion amounts.
It is important to note that the 20% early swap bonus will be credited to your crypto.com Exchange wallet (not your app wallet) and will be held (staked) there for 6 months.
The main reason would obviously be to get the +20% early claim bonus. But if you take a look at the USD price of both MCO and CRO you can clearly see the difference with CRO +250% this year and MCO -30% approximately. It is clear which one i’d rather be holding.
If you haven’t already got your Crypto.com Debit card then you can check out our review here to see what it can do.
Sam Deering is a cryptocurrency enthusiast with background in computer programming. He loves to learn, share and write about anything crypto news.
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