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Is crypto.com trustable?

Rael

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Jan 16, 2020
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As the title says.
Cryptocurrency in Every Wallet™ | Best Place To Buy Sell Store Crypto | Crypto.com they offer a service which looks similar to AdvCash, but I have never seen it mentioned here in the forum.
They give you cashback in MCO, which can be created only in this way -seems a kind of Ponzi scheme in some ways-.
Do you have any comment or feedback regarding this?FOr the EU side, they are based in Malta, and their fiat currency account has a GB iban
 
When in doubt, watch this video and repeat ki#¤%

You should ask what is their agenda? They offer 12 % p.a. on a stablecoin (USD-pegged thingy) when Fed's rate is 1.75 %.
Okay, not saying it is impossible but why exactly are they able to offer it?

Similar services are blockfi.com and nexo.io (maybe less known than crypto.com). They look similar, they offer some sort of trading and custody plus a way of earning on your interest.

seems a kind of Ponzi scheme in some ways-.
Recently I had this enlightening idea that everything is actually a Ponzi lol. The stock market works like one; Bitcoin works like a huge decentralized one and the biggest one of them all has everyone involved - the pension system.
 
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When in doubt, watch this video and repeat ki#¤%

You should ask what is their agenda? They offer 12 % p.a. on a stablecoin (USD-pegged thingy) when Fed's rate is 1.75 %.
Okay, not saying it is impossible but why exactly are they able to offer it?

Similar services are blockfi.com and nexo.io (maybe less known than crypto.com). They look similar, they offer some sort of trading and custody plus a way of earning on your interest.


Recently I had this enlightening idea that everything is actually a Ponzi lol. The stock market works like one; Bitcoin works like a huge decentralized one and the biggest one of them all has everyone involved - the pension system.

Yes, this is exactly what made me dubious. 12% on PAX is a monstruosity. But also having a credit card with lounge access by simply stacking 2700 usd for 6 months -if you get back the money, the perk is supposed to stay- is not sustainable.
Since i'm pretty new to cryptocurrencies, these things would just seem too good to be true.

What would be a good alternative to receive cryptocurrencies and spend them with a card? I seem to understand that advcash and mistertango may be in a tight position right now
 
Crypto.com has 2 native tokens in the top 100 of the Coinmarketcap and one of them in the 22nd place https://coinmarketcap.com/currencies/crypto-com-coin

So it seems to me a safe value, at least to buy and sell cryptocurrencies, I like that crypto.com provides a personal Iban for deposits and launched a new exchange recently. So it seems like a good option to buy crypto cheaply. But it is always good to remember that it is more advisable to save your cryptos by yourself than in any exchange.

If you are interested in this new business model of earn interests with your cryptos, and if you trust smart contratc and stablecoin you can read this article Subscribe to read | Financial Times

And invest in desentralized loans: Compound

Apart of Nexo and blockfi, there is also celsius.network and CredEarn that is well known.

I have never invested in this type of offer, but it seems very interesting to be able to make decentralized loans.
 
As the title says.
Cryptocurrency in Every Wallet™ | Best Place To Buy Sell Store Crypto | Crypto.com they offer a service which looks similar to AdvCash, but I have never seen it mentioned here in the forum.
They give you cashback in MCO, which can be created only in this way -seems a kind of Ponzi scheme in some ways-.
Do you have any comment or feedback regarding this?FOr the EU side, they are based in Malta, and their fiat currency account has a GB iban
I looked into it. It seems like a more complicated and better looking bitconnect.
 
the perk is supposed to stay- is not sustainable.

I completely agree that some of the offers aren't sustainable. But they did raise a lot of money and if they do keep and expand their markets then I think they could be a good business.

Still, one other thing irks me. They don't list their available countries on the Web site so I asked them.
We cannot provide a list for this information, unfortunately
Please let me know if you ask for specific country and I will confirm

I can't think of a good reason for that policy. Either they don't know what territories they work in (ineptitude?) or they just don't want to say (shadiness?).
 
I have been using Crypto.com for somewhere between 6-9 months now.

Here is a run-down.

They had two coins: MCO and CRO. Both were top 100 coins, but in around July they merged MCO into CRO and gave a 20% bonus to migrate. Since then CRO powered into roughly the top 10 coins with a cap in the region of $3 billion.

Part of the reason for this is they offered very good perks and the coins were used in various staking schemes that provided perks. Many of these schemes were locked for up to six months. People piled in. It looked like Crypto.com would be the PayPal of Crypto.com. However in the last month they drastically reduced the perks. I was using their app to loan out CRO on a flexible term for 14% PA. That was pretty nice. Especially since I bought at $0.06 and it went up to $0.18. But they revised that down to 2% and made lots of changes. Anyone who was in fixed term deposits still got the high rates, but CRO has tanked. I got out as soon as I saw the news at $0.15. It's now at $0.07.

I was fully aware this was essentially a pyramid scheme, but if have the economical wherewithal to spot them, they can return great gains along with bubbles. CRO had a market cap of $3 billion due to a number of interest schemes that paid high interests and offered perks. There is no fundamentals tied to the coin.

With that said I've found their products to be very good. In the 6-9 months I have been using it I have pushed about $500,000 through the app and they only recently asked for KYC. I've not heard back on that yet. I have their mid-level card, which I have used in eight countries, paying zero exchange, ATM of POS fees. There are fees for that but they kick in at higher levels of spending. This card also gives you 3% CRO back for purchases. That can go up to 8% with their top-tier card that requires a $170,000 stake of CRO. The only issue I've had with it is I don't always get the 3DS code by SMS. So for online payments I have to use PayPal or another card. They also offer various rebates in CRO for purchases of Netflix, Spotify, Expedia etc. And the top three cards give you access to Louge Key. I was not able to test this due to the CCP-virus.

Once CRO crashes more I will be looking to upgrade to the next card level, which has a few perks like offering an extra 2% in CRO on funds you offer to be loaned out. The Crypto.com card is now my primary card. I only use other cards if Crypto.com doesn't work online, as mentioned. It's also a very attractive metal card.

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Other than the card I also use their earn feature, in which you provide your coins to be used in their loan system. What people say about the rates up to 12% (actually 14%) is not accurate. I have been lending USD and crypto assets on exchanges for five and a half years and 12% is less than the mean rate I would get. I made a script to autolend on Bitfinex exchange, highly tuned and in a good year got in excess of 25% on USD. The way this works is you provide the margin, the person who wants to loan provides collatoral and once they can't pay the loan back it's liquidated. I have had zero losses in almost 6 years, getting paid double digit multiples of what lamestream banks can pay. Right now I have multiples of my monthly living expenses in crypto lending interest across multiple platforms. Crypto.com has insurance of $360 million, but I don't know what assets they have under management.
 
As the title says.
Cryptocurrency in Every Wallet™ | Best Place To Buy Sell Store Crypto | Crypto.com they offer a service which looks similar to AdvCash, but I have never seen it mentioned here in the forum.
They give you cashback in MCO, which can be created only in this way -seems a kind of Ponzi scheme in some ways-.
Do you have any comment or feedback regarding this?FOr the EU side, they are based in Malta, and their fiat currency account has a GB iban

crypto.com I recommend!​

 

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