Hello everyone

I would like to introduce a new and very complete platform around the use and purchase of cryptocurrencies. The site , crypto.com site offers a large and very diverse number of services around crypto. I will try to go around hoping not to forget anything.

But first of all and as a disclamer I would like to add:

“Investing in cryptocurrencies carries a risk of loss. My opinion is personal. I am only returning to this platform that I discovered. And I encourage you to educate yourself before embarking on the crypto adventure.”

To quickly present the project, crypto.com bought the domain of the same name. You can easily imagine the financial investment behind this purchase. Of course, this is not a guarantee of seriousness and quality but still ... The goal of this platform is clearly to popularize access to crypto currencies and to make its use accessible to the greatest number. With this in mind, they launched a huge advertising campaign in the US some time ago with huge posters in most major cities in the country and also launched their visa cards in the USA. Which is in itself a feat in view of the restrictions and difficulties for this. Which is also a guarantee of seriousness and quality. The platform is also very dynamic with a presence on the various social networks and very regular offers. There is also a very advantageous sponsorship offer for new members (see at the end of the article). The platform offers a mobile application from where you can manage almost everything (except the exchange for the moment).

Wallet

The wallet is, as its name suggests, your wallet. You can store many Fiat currencies there ($, £, €…). It is from the wallet that you can buy or resell your crypto currencies. The application is really very intuitive and everything is very simple. You can also pay, transfer funds from one account to another, or switch them to a regular bank account.

MCO visa cards

As its name suggests, crypto.com (CDC) offers visa payment cards associated with your account. Several cards are available. The type of card depends on the amount of token that you have “stacked”. To put it simply: to benefit from the card you have to buy one of the two house tokens. Regarding the card you need the MCO token, we will see later what the second token is used for. It is up to you to decide how many MCOs you want to buy based on the card and the associated benefits. At the time of writing, the MCO is about $4.5. It will therefore be necessary to spend 50 x 4.5 = $225.

BE CAREFUL here you buy tokens. At the instant t, they have a value of 225th, in 1, 2 or 3 years they will surely have another value. Either more important or less important. In addition to benefit from the card you must “stack”, in other words, block these MCOs for 6 months. Please note that you do not lose these MCOs, they are just blocked for 6 months and you cannot use them. After 6 months you can decide to block them again for 6 months to continue to benefit from the advantages of your card or then resell them (if the price has increased) or exchange them for other cryptos. As you can imagine, the more OCM you block, the more advantageous the card is. You will find below a table with the different advantages depending on the amount of blocked OLS. In general, the cards offer an attractive cashback, even from 50MCO. You will get 2% cachback for each purchase made with the card. If you spend $200 , you will therefore receive $4. Which is not negligible if you use your card on a regular basis. Also note that Spotify is reimbursed from the card at 50MCO. This means that the subscription to spotify for 1 year almost already reimburses you for your card. The steps above require a greater investment, but also offers greater advantages (netflix reimbursed in particular and 2% more on the EARN, which we will soon discover). Note that if one day you decide not to block your MCOs anymore, you will lose a lot of advantages but you will still be able to keep your card with a lower cashback percentage.  

EARN

Another function that I find very interesting is the earn function. It works like a savings account. You will place your cryptos there so that they bring you money (in reality they will bring you other tokens). The percentage of interest depends on several factors. It will vary depending on the token you wish to block, the blocking time. You have the choice between 1 and 3 months, or you can decide to block them in a flexible way. This means that you can remove them at any time. But in this case the interests are of course lower. And the third variable is the amount of MCO token that you have blocked. If you have blocked 500MCO (so that you have the Blue / Green or higher card) you earn 2% additional interest (see the table below). Interest is paid every 7 days in the token which has been blocked. If you block bitcoins, you will receive bitcoins. For the moment I find the interests very interesting, in particular for certain tokens. But these rates may change and decrease or increase in the future).  

Exchange

CDC has been offering an exchange for a few weeks. At the moment it is not accessible on the mobile app. It is therefore necessary to connect to a computer. It works like a classic exchange but it also offers some functions that I find very interesting. Again you can block tokens to gain benefits. Here you have to block the second house token, the CRO. By blocking a minimum of 10,000 CRO (currently 430th) you will reduce your exchange costs. Once again, the greater the quantity of blocked tokens, the more the advantages will be interesting. You will also get 20% interest (paid daily) on the amount of CRO blocked…. which is huge! (but I guess it’s not going to last forever). And finally you will get access to "The syndicate" which offers you discounts on the purchase of tokens.

Other advantages

You can also buy gift cards from major brands and benefit from cashbacks directly credited in tokens on your wallet. Another way to save money.

Credit

There is also a credit function, but this function does not interest me, I have never used it and therefore I will not make any return on it.

Conclusion

For me the main advantages of this platform are the Visa card with the associated advantages, in particular cashback but also the interest obtained by using the earn function or the stack in the exchange. I find it hard to believe that the percentages remain as high. But now is the time to take advantage of it, especially if you believe in this technology and want to bet on it for the long term. For the moment, deposits and withdrawals using a SEPA account are free, which is very practical if you want to sell your tokens for fiat currency and switch them to a standard account. Similarly in the other direction if you want to fund your fiat account to buy tokens.

If you liked this article and you want to embark on the crypto adventure on this platform, do not hesitate to use this link: here , for your registration. If you subscribe to one of the cards you will receive $50 in token for free (which is not negligible). But again, find out before. Their FAQ is very well done and customer service is also very fast if you have any questions.