Hey Publish0x community! Welcome back in this new article of my “Easy & Short Cryptocurrencies Made Accessible” area.
In this article we talk about more features of Crypto.com!
In the last E&S article I introduced you Crypto.com (CRO) and I said that is an online cryptocurrency exchange platform that allows you to trade in over 200 cryptocurrencies and make payments and other services by leveraging them. With around 3,000 employees and as many as 10 million users spread across more than 90 countries, Crypto.com is to be considered among the most important companies in this industry.
Today we’ll talk about: Crypto.com Visa Card, Staking and benefits!
So, let’s start this article!
Crypto.com Visa Card
The Crypto.com Visa Card is a prepaid card that requires a bank account transfer, credit/debit card or cryptocurrency for top-up. To apply for the Crypto.com Visa Card, you need to stake CRO tokens for 180 days. To do so, create a Crypto.com app account, complete the verification process and purchase CRO tokens. The amount of CRO you need to stake depends on the card tier you wish to apply for. Go to "Cards" in the app, select the Crypto.com Visa Card of your choice, click "Stake CRO" and follow the instructions. Card rewards will be paid in CRO and deposited into your Crypto.com crypto wallet. Fees vary based on your card tier, so be sure to check these before applying for a card.
Tiers:
- Obsidian: stake $400,000 USD to receive 8% CRO Rewards
- Frosted Rose Gold & Icy White: stake $40,000 USD to receive 5% CRO Rewards
- Royal Indigo & Jade Green: stake $4000 USD to receive 3% CRO Rewards
- Ruby Steel: stake $400 USD to receive 2% CRO Rewards
- Midnight Blue: stake $0 USD and receive 1% CRO Rewards
CRO Staking for Visa Card
To make the most of Crypto.com's features, you can stake some of the Crypto.com cryptocurrencies you own. When you reach enough CRO, you can get many additional benefits within the app. Staking means locking the tokens for an initial period of 6 months, during which you cannot transfer, sell or use them. When this period expires, you can either withdraw the tokens or choose to continue keeping them in staking, so you don't lose the privileges you've acquired. On the plus side, your tokens earn from 6% to 8% interest while being kept staked. The benefits increase incrementally in proportion to the amount you put into staking.
As seen above, from Ruby Steel onwards you are required to stake a certain amount of CROs. These CROs are tied up for 6 months. Note: Withdrawing the staked CROs can be advantageous (if the CRO value has risen during these 6 months) or disadvantageous (if the CRO value has fallen). It is good to be aware that withdrawing the CRO from the stake involves a decrease in cashback and an elimination of other benefits. For example, removing the CRO from the stake of a Royal Indigo means that the Spotify/Netflix refunds stop, and the cashback drops from 3% to 1.5%.
For more details check: https://crypto.com/eea/cards
What about benefits and disadvantages of Crypto.com?
Benefits:
- Simple and intuitive application.
- Rewards for users.
- Earn feature that returns up to 14.5% per year.
- 5 cards available.
- Additional services available.
Disadvantages:
- (No Euro withdrawals available.) Errata Corrige: Even if this article has been quite clear, I thank Smoljanović and SalvoL for their contribution, highlighting that withdrawals are still widely possible. If you have more information to add, fell free to comment! And here is the final version, directly from their website. So direct withdrawals from the Exchange are not supported, while withdrawals from the app are possible.
- To get all the benefits, you need CRO staking
Trading with Crypto.com is very easy: a platform that exceeds expectations because it helps the user with comprehensive and well-structured tools. Finally, high levels of liquidity also position Crypto.com among the top 10 best platforms to buy crypto.
Next Sunday I’ll introduce to you a new cryptocurrency.
Let me know what you want to see analyzed in the comments!
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