With the advent of Bitcoin, we saw the birth of a whole series of DeFi (Decentralized Finance) projects. Crypto.com is one of those projects that even goes so far as to allow users to invest with their daily expenses.
In this article, we will introduce you to this platform and what it can do for you. Whether it’s letting you buy Bitcoin or even making money while shopping. But above all, I will explain at the end of this article how to receive 25 dollars in cryptocurrency for free.
What is Crypto.com?
It is a platform dedicated to crypto-currencies that is meant to be complete. There is a wallet of cryptocurrencies, the possibility of exchanging them, earning interest and even the possibility of obtaining a credit card.
Ultimately, the goal is really to be truly the go-to place for all actions relating to the cryptocurrency world. The goal is to enable the general public to fully enjoy the benefits of cryptocurrencies. Crypto.com allows you to buy and sell 7 “fiat” currencies (euros, usd, etc.) as well as more than 80 cryptocurrencies.
The company was founded in 2017 and managed to raise $ 26.7 Million when it was launched.
The security of Crypto.com
So before we go any further, it is important to talk about application security. You should know that Crypto.com attaches great importance to security in all their processes. As the industry standard requires, security is divided into “cold storage” and “hot wallet”
By “cold storage”, we mean to keep the data (and therefore the crypto-currencies) of its users in kinds of hard disks which are therefore not constantly connected to the Internet (which minimizes the risk of hacking). Crypto.com keeps all of its users’ crypto-currencies with this type of security.
Hot wallets are used to manage day-to-day operations, withdrawals, and more, while relying on blockchain security.
As regards “fiat” currencies (such as euros, dollars, etc.), these are kept in secure bank accounts. This allows users to keep ownership of their money.
To finish it off, Crypto.com also has $ 360 million in insurance coverage to cover crypto assets on the platform. Which adds a new layer of security.
What are the possibilities offered by Crypto.com?
We have briefly mentioned it, but the Crypto.com platform provides many features. We will therefore review these in the rest of this article.
Fully managed through an application
Really one of the strengths of Crypto.com is that everything can be managed through their app. This is particularly well done and quite intuitive and will allow you to carry out your various transactions.
All the different features of Crypto.com that we will describe in the rest of this article will be accessible directly from this application. For example, you can buy cryptocurrencies there, send money to other users and also follow the prices of different cryptocurrencies and their evolution.
As already mentioned, Crypto.com will allow you to buy more than 80 cryptocurrencies directly on the application. All at low cost. You can therefore easily transfer euros to your crypto.com wallet and then use the application to convert these euros into Bitcoin for example. We had already discussed the possibilities of buying Bitcoin through Coinbase or Binance. Now you have a new way to buy cryptocurrency from your arsenal. It’s up to you to see which platform you prefer!
Allow to obtain credits
The idea is similar to that developed by Nexo.io or Celsius Network. Crypto.com allows you to use your cryptocurrencies as collateral to receive a loan in common currencies (such as the euro). So you can keep your cryptocurrencies and benefit from the potential value gains on them while having money to spend in case of unforeseen expenses.
Again, I do not recommend that you use this service. Indeed, I invite you to consult our article on personal finances which attempts to explain a state of mind that will allow you to move towards financial freedom.
Crypto.com also caters to entrepreneurs through this option. It allows companies and their e-commerce sites, etc. to receive payments in cryptocurrencies. At the same time, it also allows users to pay with the crypto-currencies they have in their wallets.
It is therefore a new step towards the global adoption of cryptocurrencies by putting in place means to use them as a current currency (euros, dollars, …). Indeed, it is currently not yet possible to shop with cryptocurrencies. This is one of the weaknesses of Bitcoin for example. But Crypto.com helps put in place structures to address these issues.
It is also possible to earn interest on Crypto.com. You can completely decide to block some of your crypto-currencies on the platform and to receive interest on them. Obviously, the longer you block your assets, the higher the interest received will be.
Note that if the idea of locking in your assets for a certain period bothers you. You can also benefit from “flexible” investments where your money is invested but quite accessible on demand. Of course, the interest is significantly less.
It should also be noted that the interest rates fluctuate depending on the amount of CRO (the token of Crypto.com) that you have blocked on your account. I invite you to consult the current rates if you have more than 50,000 CROs blocked on the platform.
Earn money while shopping
One of the features of Crypto.com that I am a fan of is their credit card. You can receive it free of charge. The only condition is to have a certain number of CROs (Crypto.com Tokens) blocked on your account. The benefits of the credit card vary depending on the number of CROs blocked (we’ll get to that in a moment).
So already having access to a no-charge credit card isn’t bad. But imagine if this credit card allowed you to make money for your daily expenses. Because that’s what this famous credit card allows you.
Depending on the number of blocked CROs, you will receive for each of your expenses a portion of it in the form of cashback. This cashback will be in the form of CRO. As a reminder, the CRO is what allows you to improve the advantages of the card (the more you block, the greater the advantages). Isn’t it wonderful to think that spending money allows you to increase the number of CROs you have and therefore the number of CROs you will receive in the form of cashback. If it’s not a beautiful virtuous circle.
I have given you the comparative table of the different credit cards available (depending on the number of CROs blocked) and their advantages. You notice that the percentage of cash-back increases according to the number of blocked CROs.
Receive $ 25 worth of cryptocurrency for free
Crypto.com has a referral program in place. So, if you use the links to the platform throughout this article to register on the platform, we both receive $ 25 CRO for free which means that I might receive a commission if you use my links.
As has been mentioned many times already, the advent of Bitcoin has initiated a multitude of projects that allow users to access new features.
Crypto.com is one of those projects trying to replace some features that were once fully managed by banks. All this on much more attractive terms.
The great thing about Crypto.com really is this no-charge credit card that will save you money when you spend it. Also imagine that the CROs you receive as compensation for your expenses can also increase in value which further increases profitability.
And you, have you ever used Crypto.com? Do you plan to try? And if you already know, what is your opinion on the platform?