Crypto.com is a digital assets wallet, but there’s much more behind it. Users can buy and sell over 100 different crypto assets using multiple fiat currencies. The platform also has an integrated VISA prepaid card with a generous cashback.
More than 10 million users trust and use Crypto.com services, including a digital payment processor for merchants and a staking program. Users can get up to 14% APY on USD Coin (USDC) deposits or 8.5% on Bitcoin (BTC) and Ethereum (ETH).
What Are the Fees for These Services?
The initial trading fee is 0.4%, but that can be reduced by 10% for CRO token stakers. There’s also a progressive discount program based on users’ trading volume.
As shown above, by staking 5.000 CRO tokens and trading over $100k per month, users can enjoy 0.09% taker fees. Currently, each CRO token is worth $0.20, so the staking needed is $1k worth.
Moreover, retail clients enjoy a $25 USDC flat fee for fiat withdrawals. Users can enjoy a 2% withdrawal fee on ATMs using Crypto.com prepaid VISA, significantly lower than Coinbase’s 2.5%.
What Perks Does Crypto.com VISA Offer?
By staking $4k worth of CRO tokens, Crypto.com VISA holders enjoy a 3% cashback program, besides a $13 monthly reimbursement for Spotify and another $14 for Netflix subscriptions. But wait, there’s more. Frequent travelers will benefit from LoungeKey airport lounge access.
By increasing the CRO token stake to $40k, Crypto.com VISA prepaid cardholders increase their cashback to 5%, receive an Exclusive Merchandise Welcome Pack, and another $13 for a monthly Amazon Prime subscription. Benefits include Crypto Research reports, access to industry events, and bonus rewards on the Crypto.com EARN staking program.
In March 2021, Crypto.com reached a global agreement with VISA to expand its services: U.S. Canada, Europe, Asia-Pacific countries. Card users can convert cryptocurrency into one of six fiat currencies — U.S. dollar, Canadian dollar, British pound, euro, Hong Kong dollar, and Singapore dollar.
The partnership also offers some exclusive benefits: Crypto.com has debuted “Spending Power,” which will allow cardholders to use their crypto wallet funds as collateral for a loan and instantly spend fiat on their VISA debit card.
An Integrated DeFi Wallet
Not every user is willing to leave their cryptocurrency custody on centralized services. To solve this problem, Crypto.com offers an integrated DeFi wallet, fully non-custodial. This solution provides total control for its users, besides greater flexibility.
Crypto.com DeFi wallet offers yield farming services and swaps using Chainlink oracle price reference. Furthermore, CRO stakers can triple their yield by providing liquidity on the DEX.
The DEX is fully decentralized, meaning anyone can stake CRO tokens and become a Crypto.com chain validator. Furthermore, there’s no need to be an expert as the Crypto.com app for Android and iOS is fully integrated with these services.
Is Crypto.com Chain Safe?
Yes. Tendermint’s consensus methodology is behind the network protocol. Its fault-tolerant design makes the platform secure, permissionless, and resilient. In addition, the Proof of Stake technology facilitates high-speed transactions at minimal costs.
Lastly, Crypto.com’s state-of-the-art network of nodes accelerates the ecosystem’s payment infrastructure, on-chain settlement, and overall service usability.
Is Crypto.com EARN Staking Profitable?
For example, staking $1k worth of CRO tokens and $5k of USD Coin yields a 12% APY. It is worth noting that the 4,000 CRO token staking can also be used for VISA prepaid card perks, besides offering its own 6% yield.
Crypto.com app is reliable and offers competitive pricing, no matter the service you need!