 Digital asset news to get top stories in crypto currency assets and bring them on a bite-sized pieces today There's some big moves going on in the space and the first one is from crypto.com They are essentially eliminating the MCO coin and only going for the CRO So that means if you're a holder you're gonna have to swap these out Before November 2nd and there's a lot of things going on with that also love more. Hate them coin base is huge And when I start talking about adding new digital assets to platform People tend to stand up and take notice and my big thing here is theta on top of all the DeFi coins that they are Potentially adding in the next few weeks or even months. I'll take a look at all that But first let's take a look at what's going on the market. So today. It is August 3rd There's really 4 p.m. Getting things done late a lot of things going on today, but we've got Bitcoin now 1.2% but not really. It's really just haven't been moving sideways. It's around 11 11 2 11 3 some around there Ethereum is below 400 at 389 XRP 31 cents watch out tether Bitcoin cash SV. Don't know why they're there Cardano up 1.8 percent. That's great like coin up again up as well 1.8 percent chain link 5.3 I think 876 might be one of the all-time highs for chain link check me in the comment section But if it hits nine, I know it has never been at nine Also Binance coin crypto comm is up and not only is crypto comm up But the MCO coin that they are going to essentially eliminate which is all the way down here had a massive run And now it is up 35 percent over 24 hours. So 36 percent for the week So that is an interesting story. So why don't we jump right in so here we go MCO swap So this was in my email inbox I had actually signed up for crypto comm to evaluate the app and the wallet I'm still going through the paces. I actually had a sit-down or a zoom or a Google meeting with One of their one of their heads of operations and I just asked her name was Bonnie and I asked her a bunch of questions Very intelligent person knew a lot about obviously about her product But there's just I just had some lingering thoughts and just kind of going through the motions of doing my due diligence And I I urge everybody to do the same thing I know these types of you know apps and things that we get into in exchanges. They sound good But when you start to really look down, you know, we're like, well, what about this? What about that? And that's why you know, it takes me so long to do things because first of all a lot of things other things going on But second of all, I need to be secure in the things that I talk about because if I'm just whipping everything out I'll nilly-willy who cares then that'll come back not only on me, but it'll come back on you So I mean, I want you to be safe. So I do all this, you know do diligence So people don't come back like hey this thing sucks. What are you talking about? It's awful blah blah blah does this so that's what I try to do and if if and when you know Something comes up that is good I will always put it in my exchange fees and wallet evaluations You don't know in the description of my videos There's a link it looks like this and it goes through everything that I have used or am using Currently as far as exchanges wallets DeFi C5 everything that I've ever actually ever done and you can see my my evaluation So Coinbase, Celsius Voyager, Gemini, Binance, Cash App, SimpleSwap, Abra, and then crypto.com Evaluating so all these different things and and it'll even go through all the fees And if you're gonna get loans or if you're going to do some kind of staking How much you're actually gonna get as far as percentage-wise so it's all right there my one-two punch I've always talked about it is Voyager. I love the wallet. It's so simple. It's so easy It's a to me It's as easy as using Coinbase and I like easy because I don't have the time to do all these different Interactions I think like that so Voyager to me is super simple And then that's where I get everything because it's free to actually buy it kind of like on Robin Hood So I like that and then if I want to get interest I put a push over to Celsius and I like that I like Alex Moshinsky the CEO, you know, he's one that created voice over internet protocol He's a pretty successful guy very dynamic and really puts himself out there So I like that a crypto.com everybody talks about it and Sometimes it just sounds that great. You got to take a look at it but you really got to put the paces and that's where I'm at right now and shout out to Sherman For writing a very detailed explanation of crypto.com and why it works for him So really because of him and Bonnie is the reason why I'm looking so tough at crypto.com So we'll see anyhow moving on to the actual email. So this was all about an MCO swap So here's what's going on. You've got a swap all your MCO Tokens before November 2nd Because after that you're gonna lose the functionality So I know that if you stake your MCO tokens 500 a thousand two thousand whatever else it is I mean you get massive interest So those are going away and it'll just be the CRO and I actually asked this to Bonnie when I was on the call with her I'm like, why do you guys have two tokens? I don't understand what the point is and she told me she's like well, you know MCO was Monaco and that was like our main push in the very beginning and then We try to do use the CRO token for the actual utility and using everything that's on it and do I'm like once Just use that and I swear this was on this was on Thursday or Friday I talked to her and then just this weekend then they go to CRO. Obviously not cuz they talked to me I don't know it doesn't matter what what they talk, but it was just weird timing So now I kind of get it. I'm like, okay, you get rid of MCO use CRO makes sense makes it simple so one pretty important thing to note here is that crypto.com will not perform the swap on your behalf and the swap will not happen automatically So what you have to do is actually have to go into the app itself And it'll it'll have some information there right on the very front screen They'll say if you want to swap click here and you just do it. It's very simple for what I've seen so far So states here there will be no change to the core functionality But we are expanding MCO functionality and representing in two ways Specifically the MCO swap will involve combining the current functionalities of MCO With CRO's utility and technology in a one-stop shop So MCO for the limited thing that it did and great that was they're just gonna combine the two and just call CRO and make it simple. So I like that that makes a lot of sense to me. Why not? This is important 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 use of these tokens So there's gonna be ghost tokens just sitting on the blockchain doing absolutely nothing So very important to get in there and then swap your tokens. So here's how to do it log on the app Follow the instructions. That's it takes about two or three minutes can't make it easier than that Complete by second of November big thing fraud prevention completing the MCO swap is the old in the app Is the only method for swapping your MCO you might you're gonna see you're gonna see emails You're gonna see Whatever else that you get as far as notifications and see me people are gonna say hey We help you or we're part of the team. We're gonna help you with the swap. Obviously don't fall for that It's only done in the app. Let me say that two more times. It's only done in the app It's only done in the app by you and then let's get on the good stuff the swap formula. So what's going on here? So if you got one MCO, there's this nice fancy formula, which is make it simple one MCO is gonna be about 27 and a half CRO, but here's the great thing if you do this early like today, which is only to you three minutes So why don't you do it right now? You get a bonus and if you do it before second of September the participant you will receive an early swap bonus That is equivalent to 20% of the amount swapped at the MCO to CRO swap rate. So if that happens, you're gonna get Essentially 33 CRO for one MCO basic questions What if it staked and says no big deal simply follow the apps on screen instructions in order to swap your staked MCO So essentially you can unsteak it for a bit switch everything over and then do it again as far as like staking If that's what you want to do sounds good to me And it says what if my MCO is held in exchange or external wallet and if that's the case you must transfer it into the crypto comm app again You can only do this in the app You can only do this in the crypto comm app and that's it and then it states What happens after the deadline after deadline on November 2nd? If you complete the swap you'll receive CRO that represents all the pre-swap MCO functionality and much more I always like that when I say that and much more It's like one of those like as you on TV type of things and here's the big question So what's the new staking tears gonna be because that is a big thing for everybody and that's what I have seen as far as people Who love crypto comm they say well, you know if I stake this much and I get this much type of thing So what's gonna happen is they're gonna do ruby jade ice white rose gold whatever sitting black and In the big end beforehand. It was 50 MCO for the ruby now. It's gonna be 5000 CRO 500 to 50,000 5,000 500,000 50,000 5 so, you know, you have a factor of roughly a hundred X That's a go but it looks about the same thing So that is it but there's just one thing to make mention and this was actually from crypto briefing I didn't think about and it states right here crypto comm is using a volume weighted average price Express in US dollars to calculate the MCO conversion is determined based on the month leading up to August 2nd and fixed at 27 point like we just talked about with the 20% early swap bonus the rate increases at 33.17 However, the sudden hike in price over the last 24 hours negates some of the values of the early swap bonus Assuming the value of CRO stays relatively stable and we just saw that From coin gecko. It looks like it has jumped up a whopping 34 percent. So Yeah, that's maybe they're going to adjust it, but I didn't see anything like that in the actual email So here we are and lastly, and I thought this was interesting I'll finish up with this is that the value of the US dollar has been plummeting over the last month Due to the coronavirus crisis down 4% against the euro at 85 cents I know we always talk about, you know, how strong a dollar is the economists say how great it is But I gotta tell you over the last three weeks or so. We've seen the dollar weakening Could be setting itself up for something major, but who knows? I'm not an economist. All right Let's move on the next story. So next up coin base continues to explore support for new digital assets And I got to tell you this was an interesting one because I'm not a big fan of coin base Just because of all the outages and the crazy fees that they have That's why I created that Spreadsheet so people could have some coin base alternatives when they're ready But when I saw this and it it talks about their continuous spoil addition of new assets Most of these or if not all of them are all defi except for theta So it's like there's kind of jumping on the bandwagon like oh, okay. Well now defi is here And that's pretty hot. Let's jump into that and I was looking at this and like I wonder what they've done in the past I've read these before so looking back. This is on July 31st if you look back at June 10th, 2020 take a look at all these different projects and they were also talking about we're gonna possibly add something like this and Very few of those were actually added. I think well compound. That was a big one defi But did you buy it B chain? None of those things were ever added. Let's see. What are these AVE Aragon? Bancor comp digibite nothing nothing nothing nothing synthetics scale neverx synthetics and B chain So I was kind of hoping for digibite B chain, but that didn't happen and then if you look even farther back to September 19th We've got all these different ones. They were looking at Oasis near mobile coin cadena handshake nothing polka dots a lot of space out of all these they added orchid You know, I think why they added or it is because they invested in orchid. So that's kind of crazy But whatever and then Lastly, this was all the back in 2018. This is the first start of this They were talking about adding cardano all the way back then they still haven't done it So and CDC dye they did they did chain link can I was tea EOS? they did stellar they did finally after a long time auger and XRP tasos, so I mean in the very I mean that was like two years ago. Jeez We're talking about a long time ago out of all this time They've had a limited amount of what they actually talk about they might be adding what they actually do add So let's just take a look here So Coinbase's goal is to offer support for all assets that meet our technical standards If you don't know what their technical standards are it looks something like this and I always said I Under 2.1, I always thought that the reason why they didn't list cardano was because they needed at least a Working alpha or beta product on a test net or main net. So I was like, ah once they get the main net They'll definitely list them But as you can see right here, they are kind of like now not even considering it Which is weird because not too long ago. They're talking about adding it So I gotta tell you they're talking about these types of things I think they've already got it in play Because there was just an article a couple months ago where they had talked about doing custody for cardano So I don't see why they wouldn't list it how they don't talk about it here But hey, whatever so it's a pretty lengthy type of process about what they have make sure that it's decentralized Where is it? I know it sits on that The network is public decentralized and enables trustless consensus. So for all the people that Hate XRP well, it's on Coinbase. So what are you gonna do and then all the different criteria here? So that's what all the things they go through but I'm moving down This is what they're actually looking at so today. We're now it's never explained the addition of a range of new assets Including Apple forth band protocol balancer Block stack never heard of curve fetch. IE AI flex a coin helium had their hashgraph I've heard the great things about that. I've listened to the creator it just sounds like next-level stuff that could be big but I'm not for sure Kava Mellon ocean protocol Paxos gold reserve rights the graph theta Uma and WBTC and I gotta tell you a lot of these things if you look at Coin market cap or coin deck look at going echo You're gonna see a lot of these have pumped already just by the mere mention of it So the same thing happens if you're new to the space just know that if they do get listed You will see an amazing pump the Coinbase pump and then they'll go right back down to where they were so you can make a you know If you're into that type of thing, I am not But be careful because you might FOMO in like oh, it's going crazy. I got to get it now. No, it's gonna go back down That's usually what happens. So just be safe with all that stuff So that's the big thing and I got to tell you looking at these projects. They're pretty interesting Especially like like rap Bitcoin. It's talking about the flexibility of you know Bitcoin with the ERC 20 token on the Ethereum network It's it's it's pretty good and then I was looking at reserve and when I saw this I'm like, hmm Flexible pool of stable stable coins and not only that send money across borders. That sounds like something XRP does So the little competition as far as that in stellar and also with Mellon Asset management 3.0. I was taking a look and pretty interesting Kava when I open up Kava The first thing I started like wow finance coin 45% today's rates But the heck's going on here. So something to take a look at and then theta one of one of my Pics that I think could be like a sleeping giant and if you take a look at that it's all about the infrastructure as far as how they do with streaming services and Theta now some people will always call it a scam. There's always be one or two to call it a scam but I mean you have a lot of good people behind it Steve Chen co-founder of YouTube and They got a lot of little partnerships like on theta TV G fuel Different things for gaming. So I like this project looks pretty interesting and then another one their hash graph and The way that it talks about these types of things and as far as like, you know first generation second generation third generation Don't get caught up too much in this stuff Because like people will always like oh, this is the next big thing and this is the next big things next me Maybe it is maybe it is I was around when the internet came about and I got to tell you We didn't think it was gonna be that many websites. Honestly. I'm just telling you because we're like, oh, it's just gonna be a couple We're gonna have you know, yahoo Maybe some hotmail here and there maybe ask jeeves.com but we didn't think it'd be like what it was You you you can't even fathom how big things can become and how much they can expand But I will tell you I remember that every different website was like with the next big thing with next big thing a lot of those went away So you only see you know a handful that are really Making the enormous amount of money, but or are actually functional So the same thing here first-generation, I mean it sounds awesome, but I'm gonna warn you that a lot of these projects may actually go away, so just be careful and the other one that I saw that was pretty interesting was ample and I really need to do a deep dive into this because it just talks about the flexibility of money and having it retract and have a stable and actually the the total Cap of the coins are not actually fixed and they do fluctuate So it sounds kind of odd when you first hear about it But when you really go deep into it looks pretty interesting, so they do a deep job in that one That'd be look pretty interesting. So that is the big thing, but lastly, and then we'll full finish the video I will say this that What I just said when I say, you know a lot of these these products are gonna go away, right? We used to talk about it was 99.9 percent We're gonna go away, but with DeFi and different advancing things that are coming about me There might be an opening for a lot more things to be functional and to actually make a lot of a lot of sense And people's lives a lot easier so When I got in I mean it was all about currency it was all about the crypto currency. This is back in 2017 So you have to understand what I bought a long time ago is gonna do well I believe but there's room for the things to do massively well. Will I get into them? Yeah, maybe but for right now, this is why I have these certain projects I mean Bitcoin I always see is like the first one and it's gonna be the one to pop off Don't think it's gonna actually be a reserve currency or a currency at all I think it's gonna be a sort of value just like digital gold Ethereum I see it as just like everything's built in a theorem So why would you see a theorem network and use it for smart contracts? Now if if a theorem fails, then there's other things on my list like a cardano Like an EOS like a tasos. They are the the next generation of smart contracts So one of those is gonna hit don't know what it is That's why I hedge my bet an XRP installer I did those because I thought well everybody needs some type of cross-border payments XRP is more for like the bankers coin as they talk about and helps with banks the banks aren't going away They suck they're not gonna go away and then stellar. I kind of saw as more of a Helping to bank the unbanked so I liked that whole project and then chain link of course was all about the API Because if we're gonna be smart contracts there You can't pull external data into the blockchain without some type of Oracle and chain links the first one Kind of like Bitcoin being the first one for cryptocurrency So I'm gonna roll with with chain link and then lastly I just added the chain because I have an Amazon business And I can tell you like this The logistics and tracking and especially of counterfeit and everything else is huge There's been numerous articles about it and I gotta tell you I lose so much stuff in Amazon and Amazon's Amazon can be a real pain, but it can be very lucrative I will just tell you that But if I can have a better tracking system like what v-chain has and I'm sure everybody's gonna say in the comment section But have you seen this one called, you know potato foot. Oh, it's awesome potato. It's awesome You gotta get a potato foot whatever it is, but v-chain is the one that's doing a lot of different Partnerships and looks like they really are progressing So I'll stick with v-chain right now and something comes along sure and that's why I have what I have So I hope that makes sense. All right, I know I was a little bit long, but thanks for sticking with me I really appreciate it. So Just so you know, I want to say thanks before we take off For all the subscribers if you don't know there's a subscribe button underneath and it just doesn't give anything special It's just it's a buck 99 It's like a tip and all these you know for the people that do it I just give random shouts out for so for the new guys and gals Patrick Victor Ricky fulja Hey, welcome for Mark Reese as well. And then we got Chuck C. Who else we got MA Joseph F. We got eat my shiz Jack Allen and then Gary Camere or Camere and Sandra Panduro. All right, so that's it for today Thanks so much for Watching if you like type videos and you too was gonna pop up your left and right Don't know because YouTube has control over all of that. I don't make those choices Just like the ads that you see if there was a scam that popped up a scam video I have no control over that YouTube does all that so they do the videos The the advertisements in the beginning middle and then nothing to do with that But if you like my videos, check those up too, and that's it. Thanks so much. See you next one