My experience with Crypto.com so far
source
If this sentence is important to you I can tell you right now Crypto.com is not for you.
While it is important for me as well I still wanted to take advantage of their earning program.
So I transferred a bit of crypto onto their wallet which supports now 53 different currencies afaik.
Some you can lock up and get up to 16% yearly interest...this is only true for their utility token "CRO" though.
After that stable coins are offering the best rewards with 10% and then it is a mix between 1% to 6% depending on the coin. The more popular the coin is the lower the interest.
This also only holds true if you are willing to lock up your coins for 3 months.
There are 2 other options as well the first one being flexible with 1% and the second one 1 month with usually 2%.
Again the reward on stable coins is much better.
As mentioned I staked some crypto with their app. The app looks great but it has to as I cant imagine people sending their BTC etc there if it looks shitty.
The navigation through the app is pretty self explanatory and you find everything you are looking for with a couple of swipes.
The 90 days felt very long though as I maybe had put in a bit too much. Everything looks and feels very professional and there is no real reason to be afraid they run off with my coins but...you know black swans etc.
Still I will continue to stake a bit of stable coins and their tokens (CRO and MCO) there as if they would shut down for any reason the tokens would be worthless anyway and 10% is a pretty good deal and future Flipstar is already dreaming about a small side income through that.
A couple of days ago I finally got the email that my card is almost ready for shipping after I pass the KYC.
I think finally having and using their credit card might change my mind if and with how much I am willing to trust them (again so far no reason not to). I am pretty hyped about getting it finally as I am waiting for well over 1 year for it.
If I stake 500 MCO I will receive free Netflix, Spotify and 3% instead of 2% cashback. But I have to see if this will be worth it for me as you don`t receive any interest if you stake for the cards benefits as far as I understood it but there are people claiming in their telegram you still do. So this will be a future Flipstar thing to figure out.
Overall I like everything so far but not having control over your crypto/keys is something really to consider as it bothered me more than I anticipated.
I opted for the 500 MCO stake. You get an extra 2% on Crypto Earn with this option, making it 12% for 3 months terms for stablecoins. And yes, I receive 6% on my MCO for the 500 MCO lockup.
that is good to know then I will lock it as well.
I ordered the same card. You already have it?
I've also been using the app but I think they should be more explicit about the amounts you need to hold to qualify for interest as well as the fact that your funds and interest is kept separate and doesn't compound
I did read, however, that they will be releasing a non-custodial wallet in 2020 and cards will be available worldwide, which is awesome.
I knew beforehand that the interest does not compound through a video so this was no surprise for me but yeah would be nicer if it would.
With the amounts you need to stake I am actually not sure what the minimum is. I think for stable coins 250. I assume other coins will be around the same amount but yes you are right it should be easier to see
This post is upvoted by @dblog.supporter.
Visit https://dblog.io now! This is a tribe for all bloggers on Steem blockchain.
thank you
how you get the card? because its only for usa i think
Europe is getting cards now as well
cool than i will apply too now
can I referal you?
ye shure, why not....
https://platinum.crypto.com/r/gacu8ykm59
:-)
Great, thanks ;-)
To listen to the audio version of this article click on the play image.
Brought to you by @tts. If you find it useful please consider upvoting this reply.