Best Cryptocurrency Exchange

Crypto.com Review 2022 – Forbes Advisor

Crypto.com Review 2022 – Forbes Advisor
Written by publisher team

The founders of Crypto.com envision a future where cryptocurrency will be a standard investment class rather than a source of curiosity. Whether you think this will happen or not, Crypto.com can help you weave cryptocurrencies into your financial life. To this end, in addition to the standard buying and selling of cryptocurrencies, the platform offers the following useful features:

Visa Cashback Card

Crypto.com offers a prepaid Visa card that works like a rewards debit card and can more easily allow you to spend your crypto holdings. Although it is available to everyone, it is those who buy the platform’s original cryptocurrency, CRO, that are the most profitable.

Crypto.com Visa Card* Available with five levels of rewards based on how much CRO you have. Each generally provides rebates for certain types of services, such as Spotify, Netflix, or even Airbnb; amount of free ATM withdrawals; And anywhere from 1% to 8% “cash back”. While this last percentage is undoubtedly attractive, it is really only achievable for diehard crypto enthusiasts, requiring you to lock in $400,000 in CRO token.

Note that “cashback” in this case means CRO, which can be inconvenient if you only use the card for rewards. You will most likely need to convert CRO to fiat currency to access your cash. This also means that the value of your bonuses may change unexpectedly as the CRO can experience rather volatile price fluctuations.

high interest rates

Like other major cryptocurrency exchanges, you can earn interest by choosing to lend your cryptocurrency to others. Borrowers can then use these loans to verify transactions, to prove ownership of the coins, or for other purposes.

With Crypto.com’s Earn Program, you can receive up to 14% annually on your deposits for more than 30 cryptocurrencies, depending on which cryptocurrency you choose to lend and how much CRO you keep in your account.

Prices may change, but you have the option to lock in your price (and therefore your crypto as well) for one or three months. You can also choose not to stick to a term and withdraw your encryption at any time.

Keep in mind that although these interest rates outperform all high-yield savings account rates, they are riskier because they are not FDIC insured. Also, you receive a small interest, which means that your earnings will not accumulate over time.

About the author

publisher team