Crypto.com has been hosting syndicate events since the beginning of 2020. What exactly is a syndicate event? It is the opportunity to acquire a particular cryptocurrency at 50% off the market price. If this sounds too good to be true, it's because it is. There are a couple of caveats to the Crypto.com syndicate promotions. However, it is true that you can acquire an amount of cryptocurrency at 50% off. In this article, I will explain how to do this, and be as transparent as possible with respect to ROI, and risk.
Buy Bitcoin at 50% Off on September 8th
In celebration of the Crypto.com exchange coming out of their public BETA, Crypto.com will be holding a particularly special syndicate event. Typically they pick a relatively popular, and unlisted project for the syndicate event. This way they boost a bit of trading volume, and get a large number of people holding new tokens on their platform. They usually sell $500k worth of the token at 50% off. The last syndicate event was for OmiseGo. During the next special syndicate event, Crypto.com will be giving away $2 million dollars worth of Bitcoin. Get ready for the caveats.
Stake and Trade to Participate
In order to take part in the Crypto.com syndicate events, and purchase Bitcoin at 50% off, you need to do two things. The first is you need to buy a threshold amount of CRO tokens. The core token of the Crypto.com ecosystem. The second thing you need to do, is trade a specific volume of USD on the exchange. The more CRO tokens you stake, the more volume you need to participate. Crypto.com limits the amount of BTC you can buy in the syndicate events. In order to purchase more Bitcoin, you need to stake more CRO and trade more volume. This is not nearly as bad as it sounds for a couple of reasons. The first is that by staking your CRO tokens, you earn 20% APY on your CRO tokens. This amount is paid out daily. Furthermore, by staking CRO tokens, you get a discount on fees, as well as access to other promotions present on the Crypto.com exchange. The main disclaimer for everyone to be aware of, is by staking your CRO, you're effectively locking them for 6 months. This amount of time is too long for many people to bare.
See Chart For Staking and Volume Breakdown
What Kind of Returns can I Earn?
Syndicate events take place every single week. Every week I post a new article on this blog detailing the returns I've earned from the syndicate events. Right now, I earn between $100 and $150 per week by participating in the syndicate events. That's because I am in the 100,000 CRO tier, and I get to contribute about $5k USD worth of CRO to every syndicate event. I end up making about 1.5% - 2.5% of the amount I contributed. Everything else is refunded, and I can participate in the future syndicate events with the CRO that I was refunded. For the rest of the week, when my CRO is not tied up in the syndicate events, I throw my CRO into Crypto Earn, the Crypto.com lending product. I earn 14% APY on the CRO that I use for participating in the syndicate events, between the events.
Participate in the Crypto.com Syndicate Events
The Crypto.com exchange is just one aspect of the Crypto.com ecosystem. Crypto.com has their sights set on the mass adoption, and usage of cryptocurrency in every corner of the globe. If you would like to profit from the syndicate you will need to sign up on the exchange.