Crypto.comThe largest cryptocurrency exchange in the world, with an average daily transaction volume of $800,000,000. Crypto.com Earn is a cryptocurrency staking solution in which users can simply stake cryptocurrency or make use of CRO, Crypto.com’s native token, to enjoy generous CRO staking benefits.
In this guide, we’ll look into Crypto.com Earn, the CRO staking mechanisms, and learn how to stake on Crypto.com to earn staking rewards.
Let’s get right to it!
What exactly is crypto-staking?
If you intend to keep your assets for a certain period of time, then stake is an excellent way to earn passive income from crypto assets. This involves investing your crypto assets for a specified period in your cryptocurrency wallet to earn rewards and contribute to the safety and performance of the blockchain network. Participating in the decision making of the blockchain/exchange is possible with crypto staking.
Blockchains are used to build cryptocurrencies and consensus mechanisms for processing transactions. To validate transactions, crypto can be staked only on PoS-based blockchains. For a specified period, users can place assets in PoS blockchains to receive staking rewards. You also have the opportunity to participate in validation (i.e. verify transactions when necessary). By staking crypto, you can confirm transactions and receive rewards on-chain for your efforts.
Participants staking their crypto in a PoS blockchain for an agreed-upon ‘staking period’ to provide value to the network and earn interest in return are called validators. PoS refers to allocating the responsibility of maintaining the public blockchain to validator nodes in proportion with the tokens held. Anybody who has the required amount of coins can validate transactions, and receive staking rewards.
Proof-of–Stake is more efficient and can solve the scaling problems of a Proof–of-Work (PoW), blockchain.
However, you can also stake through a third party or exchange, like Crypto.com’s staking service, Crypto Earn, if you don’t want to run a validator node to earn staking rewards.
Get Started with Crypto.com
The Crypto.com Exchange is a well-known staking platform that allows users to invest in CRO (its native token) or other cryptocurrency on the platform, to make passive income. Ethereum supports the Ethereum exchange as well its Cronos token. For transactions to be verified, the platform employs Proof-of-Stake(PoS) consensus.
You must first download Crypto.com to stake cryptocurrency assets or CRO. Then, follow these steps:
Step 1: Create an account
To register for an account, users must enter their full name as well as email address. To create a password that is secure and to verify your email, follow these steps.
After entering all the required information, follow on-screen instructions and click “Submit.” Once you’ve created an exchange account, you must deposit funds to begin staking.
Step #2: Deposit funds
Deposit funds to your Crypto.com Exchange account can be done in a variety of ways. Connect your crypto wallet, and you can deposit your crypto assets into the account.
Also, wire transfer in fiat currencies or master/visa cards can deposit funds to your account.
Crypto.com pays the USD deposit fee. You should check with your bank to determine if any other processing fees apply.
|Minimum Transfer||$20 transaction||$1000 per transaction|
|Maximum Limit – Daily||$100,000 or 5 times per day||$1,000,000 or 5 times per day|
|Maximum Limit – Monthly||$1,000,000, or thirty times per month||Ten million dollars or thirty times per month|
|Maximum USD Fiat Wallet Balance Limit||3-5 business days||1-2 business days|
|Maximum USD Fiat Wallet Balance Limit||$10,000,000||$10,000,000|
|Eligibility||1. US citizens with U.S. Residents are only allowed to use the U.S.
2. Social Security Number
|1. US citizens with U.S. Residence address is not accepted (PO boxes are unacceptable)
2. Social Security Number
|Requirement||– USD transfers only
– Transfers from U.S based bank account
|Transfers to third parties are not allowed
USD only transfers
Transfers from U.S. bank accounts
|Fee||Crypto.com doesn’t charge any fees for the service. Your bank may charge a separate fee.
Before you initiate a transfer, please check with your financial institution.
|Crypto.com doesn’t charge any fees for the service. Your bank may charge a separate fee.
Before you initiate a transfer, please check with your financial institution.
Next, you must purchase the minimal amount to stake the cryptocurrency.
You can start to stake by following the steps listed below.
- On the Crypto.com app taskbar, click “Accounts,” then “Crypto Earn.”
- Click “Start Earning Now.”
- You can choose the crypto that you would like to stake, and also select the length of your desired staking period.
- Enter the staking amount, then click “Deposit.”
- Check the details and “Confirm.”
- Finally, type your password.
The Crypto.com earn allows you stake 40 different cryptocurrencies or tokens including Polygon, Decentraland and Mana (MANA), Polkadot and Litecoin. You can even earn interest rewards by staking some cryptocurrencies that don’t run on PoS blockchains, such as Bitcoin and Ethereum. PoW consensus cryptocurrencies yield significantly lower interest rates that those that use PoS. Bitcoin and Ethereum are both at the lowest rate of interest, with a maximum yield of 6%, while Ethereum and Polkadot could offer users as high as 12.5% in APY.
Rewards vary and are calculated based on factors like the token staking period, the amount of CRO staking tokens you’ve staked in your Crypto.com wallet, and the US dollar value of the crypto you want to stake. Your returns will increase the longer you choose a term that is more flexible. The same goes for interest rates. You get a higher rate if you have more tokens.
You can check the interest rate you’d get by using the Crypto.com Earn calculator. Select the token for staking, choose an amount in USD, the lock-up period, then the “CRO STAKE” in USD, and you’ll see the potential earnings from the platform.
You can also stake up to $400,000. If you have a Crypto.com Visa Card, you will be able to limit the amount that you can stake.
Crypto.com CEO Kris Marszalek has recently announced that they “will offer a more balanced approach: 8% APY for Private Members (Obsidian, Icy White, and Frosted Rose Gold) 4% APY for Royal Indigo and Jade Green card holders.”
Cronos (CRO) is the utility token of Crypto.com’s Cronos Chain.
You can earn CRO by staking Crypto.com through your account. This includes cashback for online purchases and access to a Crypto.com Visa Card. There are also tier-based APRs of as high as 8%. Trading fees benefits include zero maker fees or rebates on staking over 50,000 Crypto.com CRO. Other cryptocurrencies will provide higher returns. Although the yield will increase for each token and coin, it increases in proportion to your staked Crypto.com account.
You can also earn better APYs by CRO staking through Crypto Earn. The staking rewards for CRO are currently 10% APR for 5,000 CRO, and above; any amount less than 5,000 doesn’t receive any APR interest. After 180 days of daily distribution, your staked money will become unlocked. Here’s how to calculate the stake reward: CRO x APR/365
Existing stake holders (before June 1, 2022, 02:00 UTC) will be able to continue receiving the 10%/12% rate for 180 days after their staking period has ended. Private users can now stake at 4%/8% after the period is over or if you change your stake amount.
Minimum deposit for stakestaking: 1,000 CRO You can stake even more by adding 1,000 CRO to your account, and you don’t have to wait 180 days. It takes only a couple of seconds.
|CRO Staked||Manufacturer Fee Benefit||Getr-Fee Benefit||Rate of Interest||Syndicate||Pay Benefits|
|≥ 1,000||Take 3% off||Take 3% off||0%||❌||❌|
|≥ 5,000||Take 5% off||Take 5% off||0%||✔️||❌|
|≥ 10,000||Take 8% off||Take 8% off||0%||✔️||✔️|
|≥ 50,000||Zero||Discount of 12%||4%||✔️||✔️|
|≥ 100,000||Rebate 0.01 bps||15% Discount||4%||✔️||✔️|
|≥ 500,000||0.02 bps Rebate||Take 20% Off||8%||✔️||✔️|
|≥ 1,000,000||Rebate of 0.05 bps||25% Discount||8%||✔️||✔️|
|≥ 5,000,000||Rebate of 0.10bps||Take 30% Off||8%||✔️||✔️|
Your staked CRO will be increased by the amount you have added. The timer will then restart for 180 more days.
A minimum of 5,000 CRO tokens is needed to receive interest. Follow the below steps once you have received enough tokens of CRO.
- Register to Crypto.com Exchange
- Navigate to Stake & Earn and then to CRO Staking
- Click on Stake CRO and input the amount that you want to stake
- Click Review Staking, and, once you’ve decided to start staking, select Confirm
- Upon confirmation, you’ll see the CRO amount staked and the remaining days until it can be withdrawn.
Notice: CRO Staking is for 180 days. Your staked amount cannot be completely withdrawn after that period.
Crypto.com App: Staking CRO
When you’ve got enough CRO tokens to purchase your Crypto.com Visa Card:
- Navigate to Card Page (bottom-right corner)
- Select your desired Crypto.com Visa card
- Click the Stake button CRO and follow the screen instructions.
Unlike other exchanges, if you leave your funds unstaked in your Crypto.com account, they sometimes earn a little interest through “Soft Staking.” Soft staking is another way to earn rewards on your crypto holdings by simply holding a balance in your Crypto.com Exchange wallet. It offers more flexibility and doesn’t lock your assets, unlike CRO staking. However, it provides significantly lower rewards than fixed and flexible staking terms – between 0.25-2% interest and no benefits in return. There is a $100,000 maximum token equivalent, and you must have a minimum 1,350 CRO balance.
To soft stake, log in to your exchange account, navigate to Stake & Earn, and then to Soft Staking, where you can toggle the Earn Daily Interest on.
Take risks and reap the rewards
It’s essential to weigh the pros and cons of staking CRO and other assets before making an investment decision. So, let’s take a look at the principal risks and rewards.
These are the key benefits of staking CRO or other digital assets at Crytpo.com
- Earn passive income from stakes
Although it is possible to store crypto in cold wallets, some traders find it more beneficial to place their crypto assets to earn rewards.
- It’s quick and easy
It is easy and quick to stake. A trader who joins a stake pool rather than being solely validator can have a starting amount that is relatively low.
- The price of crypto is highly volatile. Price swings could cause you to lose your gains or even all of your digital assets. You can keep an eye on the price changes by using a portfolio tracker like the CoinStats tracker.
- Coins that have smaller market caps are more volatile and offer better APYs. In other words, while staking smaller cryptocurrencies, you adopt a high-risk/high-reward strategy that might not be acceptable for all traders.
- You must lock your money for a time during the staking process. If the asset depreciates during this time, you won’t be able to repair the damage.
- In the event of protocol security faults or lifeness issues, delegations could be subject to slashing. So, it’s highly recommended to do your due diligence before choosing a validator.
What Can I Do to Untake CRO Before the 180 Day Period?
You cannot withdraw your funds within the 180-day period after you have locked your CRO to staking. To unstake your CRO after the staking period, go to your app’s CRO wallet and tap “Unstake.”
What is the Annual Percentage Yield, and How Does It Work?
Annual Percentage yield (APY), which is the amount you earn each year for investing your money, is a calculation that takes into account the reward of staking.
Each network operates its own reward system. These depend on what cryptocurrency you stake, how much staked coin, and when it was staked.
What is the best place to see my earnings from both CRO Staking or Soft Staking?
View your daily earnings by using the Stake & Earn section under History of earning.
By stake, you can get a percentage of your crypto holdings. You can easily stake Crypto.com’s CRO or any other crypto holdings. Both the app as well as the website display the APYs. Crypto.com charges very low transaction fees for deposits and offers a large selection of tokens as well as crypto credit cards at varying tiers that offer high interest rates.
This is a good thing. CoinStatsGuide helped you to make an informed decision on how to stake your crypto and earn attractive rewards.
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