The global cryptocurrency exchange Crypto.com is headquartered in Hong Kong and surpassed 5 million users in the month of October, an impressive growth within the span of twelve months. It supports the exchange of 7 fiat and 80+ cryptocurrencies and offers the opportunity to earn staking rewards by staking the exchange token, CRO, as well as earn passive interest on owning cryptocurrencies such as BTC, ETH, and so on.
The festive season is well underway and buying gifts and other purchases can take their toll on the weight of one’s wallet. However, Crypto.com offers Pay Rewards to users for using the app.
Please note that Crypto.com conducts KYC and requires a full legal name, a picture of a government-issued ID, and a selfie for the registration process. This information is needed because compliance is one of the company’s core competence areas. The entire verification process takes around three days upon submission.
Using the different functions under the “Pay” feature of the app will entitle the user to receive cashback in the form of CRO. These rewards are branded as Pay Rewards.
The various activities that a user can perform to receive cashback are the purchase of gift cards, mobile airtime, sending CRO to friends using the Crypto.com app, and using the “Pay Checkout” feature to pay online stores using CRO as the payment currency.
Gift cards are available for purchase to most countries around the world and can be accessed in-app. However, since certain gift cards are valid only in certain geographic locations, the user must check with the merchant to see if it is redeemable elsewhere.
The amount of Pay Rewards granted is dependant on the category of the gift card purchased. The user is also entitled to double cashback up to 10% if the user has 10,000 or more CRO staked either on the app or the Crypto.com Exchange.
Mobile Airtime can also be accessed, as shown. This feature allows the user to top up a prepaid phone number anywhere in the world using Pay. The app can detect whether the operator is supported. Up to 5% cashback can be availed for using Mobile Airtime.
Pay Rewards also extends to Pay Checkout Cashback as well as sending crypto to other Crypto.com users.
Based on how much CRO a user has staked, their rewards will differ, as highlighted in the table above.
MCO Visa Card
Crypto.com offers different tiers of cards for users, based on how much CRO the user has staked. This ranges from the basic MCO Visa Card for users with no CRO staked, an intermediate level card that requires 25,000 CRO staked and offers 3% back in CRO rewards, with 100% rebate on Spotify and Netflix.
The highest tier card, for users with 2.5 million CRO staked, offers an 8% back in CRO rewards, coupled with numerous benefits such as the aforementioned rebates alongside access to Crypto.com Private and Private Jet Partnership.
Benefits of Staking CRO
Staking CRO on the Crypto.com Exchange nets you benefits such as rebates on paying trading fees, 10% APR paid daily, and access to The Syndicate. Here are some exact figures.
Many of the purchasing requirements of the user are addressed by Crypto.com Pay Rewards, to ensure that even though you are spending to spread the joy of the season, you receive some joy in return in the form of cashback.
Disclaimer: This is a paid post and should not be taken as news/advice.