Sirwin
Sirwin

Crypto.com Progress Report

By Cryptoonestop | CryptoOneStop | 21 Jan 2021


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Crypto.com

Updates

  • Anti-Phishing Code Launched in the App

    • Users can set up a personalised and recognisable code that will be displayed in all legitimate emails from Crypto.com (CDC). Exchange users who already set up an Anti-Phishing Code can use the same code for their App emails. 

  • Crypto.com Secures an Australian Financial Service License

    • CDC completed the acquisition of The Card Group Pty Ltd and secured an Australian Financial Service License (AFSL), paving way for the issuance of Crypto.com Visa Cards in Australia in 2021

  • New Coin Listings

    • Filecoin (FIL), The Graph (GRT), and NEAR Protocol (NEAR) in the App, in addition to a growing list of 80+ cryptocurrencies and stablecoins.

  • New Tokens on Recurring Buy

    • Adding to its growing list, CDC recently added Polkadot (DOT) and Stellar (XLM) to recurring buys. Although CDC has more restrictions and limitations than other platforms, recurring buys is a great way to dollar cost average into your favorite crypto.

  • XRP to be Delisted from the App in the U.S.

    • Effective January 19, 2021 10am UTC, XRP will be delisted and trading suspended from the Crypto.com App in the U.S. See how the delisting of XRP will be handled across Crypto.com’s products here.

  • Crypto.com Visa Card Staking Requirements Update

    • Card Staking Requirements on 18 January 2021. See below:

    • Cardholders who maintain their current CRO Card Stake will continue to enjoy the benefits associated with their card, but:

    • The new staking requirements will apply should the cardholder (1) upgrade their card tier or (2) unstake and restake their CRO Card Stake after 18 January 2021.

  • Crypto.com Partners with Alchemy for the Crypto.com Chain

    • Taking another solid step towards Mainnet launch, Crypto.com today announced a new partnership with Alchemy to power the Crypto.com developer platform, further expanding the Crypto.com Chain support ecosystem.

Interest Earned

With the recent bull run and slight correction, all of my portfolios are up a hefty chunk and my Crypto.com Earn portfolio is no different. In the last 4 weeks, my portfolio grew almost 16000 USD—most of my interest-earning accounts are beginning to earn a ridiculous amount due to compounding and earning interest during the bear market

My Crypto Earn portfolio is up 56% in the last 4 weeks and I am extremely satisfied. You can track my earnings progress on the four major interest-earning platforms that I use by checking out this Google Spreadsheet.

A large chunk of my Crypto Earn portfolio is in BTC (Bitcoin) and ETH (Ethereum) so it makes sense why I am up so much. BTC is currently sitting at 36.5k USD while ETH is at 1236 USD. At the same time, CRO is making a slight recovery and is at 0.079 USD.

CRO Earnings

CDC changed the cash back rewards on the Icy White Card from 4% to 5% which went into effect at the beginning on October 2020. The extra 1% is adding up as I am using my card for nearly all purchases possible.

In the past week, I earned about 2294 CRO from staking, earning, and cash back rewards. While the price of CRO did take a hit and is currently at 0.079 USD, I am earning roughly 181 USD every week. As the price of CRO goes up, all the CRO I am earning will increase. The silver lining for CRO price at 0.079 USD is that I am earning more CRO from my staking, earning, and cash back rewards.

Conclusion & Prospect

While the crypto market surged, Crypto.com Token (CRO) did not mirror the same sentiment which is a bit disappointing. 2020 was a terrible year for everyone, especially Crypto.com with all the changes it made that were not favorable to the community. Hopefully, 2021 will be a year of prosperity as CDC adds the finishing touch on launching its Mainnet in Quarter 1.

If you have been following my Crypto.com progress reports, you should know that I started with the Ruby Steel Visa Card when I began investing in the platform. To maximize my Crypto.com Earn interest rates, I upgraded to the Jade Green Visa Card within a month of receiving my Ruby Steel. At that time, the next tier card, the Icy White, was out of my reach due to the staking requirements. However, with the CRO Swap fiasco, CDC temporarily lowered the staking tiers for all cards and I took advantage and was able to obtain my Icy White card back in August 2020.

The Icy White gives 4% cash back on purchase in the form of CRO, but in October 2020 they increased it to 5% which is insane. My favorite credit card only gives 2% cash back and it takes time to accumulate while with my Icy White Visa Card I get instant CRO cash back. Overall, I have enjoyed using the Crypto.com ecosystem and I hope they continue to provide more services to stakers of CRO.

Now that crypto has gotten the attention of more people, I believe platforms that endured the bear market are able to make strong comebacks. With the way things are going, I have high hopes in Crypto.com and their plans for 2021.

Each week I will report on a different interest-earning platform that I use—mainly, Celsius NetworkBitrueCrypto.com, and BlockFi.

If you are new to crypto or have considered joining new platforms, check out this referral sheet which organizes everything into a simple chart—you can earn over 250 USD in bonuses!

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CryptoOneStop
CryptoOneStop

Accredited Investor | Digital Asset Consultant | Keto Diet Adherent | Part Time Market Analyst | PharmD | Former Writer for Altcoin Magazine

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