Crypto.com Introduction
Would you like to create another passive income stream through cryptocurrency? You can start by reviewing some of the features of an online crypto exchange Crypto.com. The crypto trading platform has surged in popularity recently with the exchange taking the naming rights to the Staples Stadium in Los Angeles naming it Crypto.com Arena. The new naming rights apply from Christmas Day home to the NBA Lakers and Clippers with a deal worth $700 million. This exchange offered on apple or android allows traders to buy and sell cryptocurrency. There is also the option to take advantage of the staking features to provide a passive income for holders of certain digital assets. Staking the cryptocurrency allows investors a return for validating the blockchain network of the digital asset. I have summarised some of the pros and cons of trading with crypto.com below:
Pros
- Free to deposit crypto in the crypto.com app
- Buy 200+ cryptocurrencies
- Trade in other 20 different fiat currencies
- Low fees when purchasing with a credit/debit card
- Earn up to 8.5% per annum on your stored cryptocurrency
- Earn up to 14% on your stored stable coins
- 8% crypto (CRO) back on spending with the Crypto.com Visa Card
- Instant loans available
- 2 Factor Authentication for added security
Cons
- Fees are incurred when transferring to the Defi Crypto.com wallet
- Withdraws of crypto sent to external addresses will incur a small fee
Crypto.com Features
There is no fee owed when depositing crypto or exchanging between crypto-assets. Crypto.com allows you to set up alerts and notifications for price alerts. Therefore, you can stay up to date on the latest movements within the crypto market. There is a feature to access instant loans if you are needing funds for your next cheap holiday. Make sure that you check your ability to repay the loan given there are no credit checks when accessing a loan. You can send crypto instantly to friends or family who also hold a crypto.com account without incurring a fee. This can be advantageous if you need to send funds overseas or quickly transfer funds for holiday purchases. If you choose to send the crypto to an external address this will incur a small fee upon withdrawal of the funds or crypto.
The Crypto Earn feature allows users to earn up to 14.5% per annum rewards on the app. There are over 40 different stable coins that can be staked for a return on your investment. The amount earned on stable coins varies depending on the asset and time that the crypto is staked. To calculate your reward on your crypto head to the earning page for further information. Alternative platforms to stake cryptocurrency include Wirex and Binance. These platforms may not have the same rates and coins available to stake. For instance, I have included a summary of some of the current rewards being accessed for depositing and staking cryptocurrency:
- Bitcoin (BTC) 8.5% p.a
- Ethereum (ETH) 8.5% p.a
- USDC up to 14% per annum
How to Sign Up?
When shopping on the Crypto.com website you can receive up to 10% back that is paid in CRO on your purchases. Furthermore, if you are to sign up with Crypto.com using the following Crypto.com signup you can receive $25 USD upon registering an account. If you wish to share the sign-on bonus with your friends and they sign up you can also earn a referral reward. I note that in order to qualify you would need to first sign up to the Crypto.com app and then stake CRO for a Crypto.com Visa Card. Once completed, you will receive $25 USD of CRO deposited into your crypto wallet.
Crypto.com Summary
If you are wanting to be at the forefront of technology disruption and access a new income stream then review the Crypto.com app. You gain access to a range of different featuring including buying/ selling cryptocurrency, staking on the Defi platform and exchanging/sending your crypto to family and friends. The app can be a great alternative to accessing funds quickly and setting up an income stream that can reward you in the future. If you are wanting more information on the different platforms available to trade cryptocurrency have a read of the Top 10 crypto platforms.
