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Crypto.com is an app through which you can access a variety of cryptocurrency-related services, including buying and selling cryptocurrency, aswell as use of an exchange, wallet, credit facility, earning, shop and more.

The app claims to have more than 10 million users and is one of the most popular cryptocurrency apps out there.

 

Earning

The main service we were interested in for the purpose of this review is their “earn” option. This is where you can stake your cryptocurrency and earn interest on it.

We completed two months of staking USDC (US Dollar Coin) at an interest rate of 8% p.a.

From an investment of 250 USDC we earned 3.28 USDC. That is from two staking terms of one month each. The earnings were as advertised and at the end of the terms we were able to transfer monies out.

So all good in terms of the staking and we were happy with the way it worked. It was very simple to use and didn’t involve doing much more than depositing funds, choosing which coin to stake and then watching the returns come in.

 

Supercharger Events

We also participated in two “Supercharger” events.

This is essentially a liquidity pool where you can stake CRO (Crypto.com) tokens to mine DeFi (decentralized finance) tokens.

We originally staked 1,000 CRO tokens (approximate cost $220) in the Enjin Supercharger event, for which we received 0.885 Enjin tokens at the end of the reward period (current value just under $2).

We entered another supercharger event on SHIB coin and received 390,395 SHIB at the end of the 45 day period.

That may sound like a lot but in fact SHIB is currently valued at just $0.000007294, so that is worth less than $3 at current prices.

These supercharger events are quite a nice bonus to have simply for staking some CRO tokens.

 

Overall Thoughts

We found the Crypto.com app simple to use and it has some nice features. In addition to being able to buy and sell cryptocurrency – as you can do with a number of apps these days – it also has an exchange, loaning and earning facilities.

The returns we received from the earning facility for our USD Coin were more than acceptable at 8%. We also had the added bonus of the Supercharger events which gave us some additional returns.

Overall then we had a positive experience with the Crypto.com app and it’s something we would be happy to use again.

 

 

 


Crypto.com – Results Update

30th June 2021

Crypto.com is an app through which you can access a variety of cryptocurrency-related services. The main service we are interested in for the purpose of this review is their “earn” option.

This is where you can stake your cryptocurrency and earn interest on it.

We have now completed a two months of staking USDC (US Dollar Coin) at an interest rate of 8% p.a.

From an investment of 250 USDC we earned 3.28 USDC. That is from two staking terms of one month each. The earnings were as advertised and at the end of the terms we were able to transfer monies out. So all good in terms of the staking.

Another interesting aspect of Crypto.com is the “Supercharger” service. This is essentially a liquidity pool where you can stake CRO (Crypto.com) tokens to mine DeFi (decentralized finance) tokens.

We originally staked 1,000 CRO tokens in the Enjin Supercharger event, for which we were due to receive 0.885 Enjin tokens at the end of the reward period. We don’t seem to have received our Enjin rewards though so are currently investigating that.

We entered another supercharger event on SHIB coin and are supposed to receive 390,395 SHIB at the end of the period.

That may sound like a lot but in fact SHIB is currently valued at just $0.000008079, so that would be around $3 worth of SHIB at current prices.

Anyway, that event still has another 43 days to run out of 45 so we will report back when it is over.

 

 

 


Crypto.com – Results Update

29th May 2021

Crypto.com is an app through which you can access a variety of cryptocurrency-related services. The main service we are interested in for the purpose of this review is their “earn” option.

This is where you can stake your cryptocurrency and earn interest on it.

We have now completed a one-month staking contract on USDC (US Dollar Coin) at an interest rate of 8% p.a.

From an investment of 250 USDC we earned 1.64 USDC. We are pleased with the returns and given this is a stablecoin, have decided to enter another one month term.

Another interesting aspect of Crypto.com is the “Supercharger” service. This is essentially a liquidity pool where you can stake CRO (Crypto.com) tokens to mine DeFi (decentralized finance) tokens.

You have to stake your tokens during a “charging period” and then when that ends, you can receive tokens during a “reward period.” How much you receive in rewards depends on how much you have staked and over what period.

We staked 1,000 CRO tokens in the Enjin Supercharger event, which has now ended. We are now in the “reward period” which lasts 45 days. We are due to receive 0.885 Enjin tokens at the end of this period. ENJ is currently worth around $1.27 according to Coinmarketcap.

We have also entered another supercharger event, this time on SHIB coin, which has an estimated APY of 22%.

The risk with these events of course is that the coin you are involved with will drop in price over the course of the staking period, and that is what’s happened recently with the crypto bear market we’ve been experiencing.

 

 

 


Crypto.com – Results Update

7th May 2021

Crypto.com is an app through which you can access a variety of cryptocurrency-related services. The main service we are interested in for the purpose of this review is their “earn” option.

This is where you can stake your cryptocurrency and earn interest on it.

We started a one-month staking contract on USDC (US Dollar Coin) 17 days ago at an interest rate of 8% p.a.

From an investment of 250 USDC we have so far earned 0.93 USDC.

Another interesting aspect of Crypto.com is the “Supercharger” service. This is essentially a liquidity pool where you can stake CRO (Crypto.com) tokens to mine DeFi (decentralized finance) tokens.

You have to stake your tokens during a “charging period” and then when that ends, you can receive tokens during a “reward period.” How much you receive in rewards depends on how much you have staked and over what period.

We have staked 1,000 CRO tokens in the Enjin Supercharger event, which ends in 6 days. There is an estimated APY of 13.75% which is pretty good.

So we will report back in our next update on how that has gone and what kind of allocation of Enjin tokens we are looking at.

 

 

 


Crypto.com – New Review

20th April 2021

Today we are starting a new review of an app called Crypto.com.

This is one of the fastest-growing cryptocurrency businesses in the world, with over 10 million users on the platform and over 100 cryptocurrency assets available to buy through the app.

Essentially whilst its main purpose is for buying and selling cryptocurrency, Crypto.com is an app through which you can access a variety of cryptocurrency-related services, including crypto-

  • Credit
  • Earning
  • Exchange
  • Wallet
  • Token
  • Shop

We will be taking a look at each of these services in this review, but the main one we will be concentrating on is the earning option.

This is where you can stake your cryptocurrency and earn interest on it. There are some very appealing interest rates on Crypto.com at the moment, such as:-

  • USD Coin: 12%
  • Paxos Standard: 12%
  • Tether: 12%
  • Crypto.com coin: 6%
  • Ethereum: 5.5%

And plenty of others with a variety of interest rates between 3% and 12%. The additional bonus of these payouts is that they are made weekly, so you can compound your returns and grow your assets over time.

However, it is worth noting that to get the top rates of interest quoted above, you will need to stake at least 50,000 CRO tokens, which is about $9,500 at current rates.

So for the purposes of this review we will be taking the standard rate of interest, which is still a more-than-decent 10% on the best-earning coins.

It should be noted of course that there are two risks in buying and holding cryptocurrencies in this way – firstly, the value of tokens can go down as well as up, and deposits are not backed by any government insurance scheme. Those are the risks you take in order to achieve the high rates of interest though.

There is another interesting element of Crypto.com and that is their “Syndicate.” This is basically an option to take part in buying new coins that are listed on the platform at a 50% discount to the going rate.

That’s a pretty amazing deal, although we note from looking on the website that there are no current or upcoming offers, with the last one being for Flow tokens at the end of March. So hopefully there will be some offerings during the course of our review.

Anyway, leaving that aside there are still lots of interesting features in the Crypto.com ecosystem so it looks well worth checking out.

The token economics are very interesting too because they power the whole ecosystem and provide a host of benefits for staking them, although we will get on to that more in our review updates as we go along.

For the time being, please note you can get $25 free by signing up to Crypto.com here and staking CRO (or referral code sr9puywpz8).

 

 

 

 

 

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