Crypto.com Bets On Future By Letting CRO Fall

By Lorenzo Giovannini | Tech update | 10 Nov 2020


Crypto.com changed its card tiers since past 2nd November. The amount of CRO requested is more than doubled, from 1000 CRO to 2500 CRO for the Ruby Red Card, which gives 2% cashback on every purchase made with the credit card they give you, from 10000 CRO to 25000 CRO for the Jady Green Card, 3% cashback, from 100000 CRO to 250000 CRO for the Icy White Card, 5% cashback, and from 1000000 CRO to 2500000 CRO for the Obsidian Black Card, with a huge 8% cashback.

 

Why? Mainly because of the fall of CRO, that, together with the referral system promoted by crypto.com, makes the whole thing unsustainable for the company. 

1db401e882291afb38d414dfc7bd2318375db90460f3b768e07c34b42f6b0f7e.jpeg

Price of CRO fell down in the last month, and nothing lets us think the trend will change, despite the good market conjunction. In the last days of October you could have a premium card for free by combining the signup bonus of inviter and invited, $50,00 each, with 1000 CRO worth $80,00. So they raised the tiers, making market go down.

 

That's also, obviously, an effect of the introduction of the Binance Card, released by the exchange in August. The Crypto.com staff had to raise the maximum reward from 5 to 8%, in order to beat the 7% offered by Binance. We will talk in a more accurate way about Binance Card in another article.

 

CONCLUSION

 

My opinion is that Crypto.com is bracing itself for the next months, letting on purpuse its coin price fall. It's the only way to compete with Binance Card, which can be obtained only with BNB at a huge price. Good luck Crypto.com!

How do you rate this article?

6



Tech update
Tech update

Keep informed about last tech products and new crypto technology implementations

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.