Crypto.com in Recent News

I’ve been a customer of Crypto.com since the beginning of 2020 and have finally received my Ruby tier debit card. I thought that a review on my experience with Crypto.com was due, as there has been much controversy surrounding the card after the WireCard incident which has left many WireCard clients like Payoneer and Crypto.com in a strange predicament.

Being in the U.S., my funds in Crypto.com are completely safe. EU and UK Crypto.com debit cards were deactivated for a few days, but have since reactivated. The CEO of Crypto.com, Kris Marszalek, confirmed that all funds are secure and owned by the company—not WireCard. The reassuring words have improved the outlook that I have on an already good experience with Crypto.com

My Crypto.com Debit Card Experience

I’ve had the standard Sapphire Crypto.com debit card for some time now and finally received my metal Ruby card in the mail. The Sapphire card was nothing special and worked a little differently than I had expected it to, but that was negligence on my part and not theirs.
Once I opened my Ruby card in the mail, it was done. I felt like a member of an exclusive club and can tell that all crypto holders will end up wanting the Obsidian, Rose Gold, or White Platinum debit cards that offer 4-5% cashback among other perks. The full list of rewards for each card tier can be found here.

The upgrade from the Sapphire card to the Ruby card provides users with an extra 1% cashback on all purchases (totaling 2%) as well as a Spotify membership reimbursement (both in the form of MCO) at the cost of 50 MCO. While the benefits don’t seem like much, the metal card really nice to have, hold, and show-off. It’s a luxury that most people don’t understand until they actually experience it for themselves. But when you do, the only word to describe the feeling as luxurious.

My Crypto.com Staking Experience

My biggest bags are actually in XRP due to its liquidity and speed. I keep most of my funds in my Cool Wallet S because I’m afraid that exchanges or the government will interfere with my funds if I’m holding a large amount. I do, however, like to have my crypto in many different places, so I do keep a moderate amount of crypto on my favorite exchanges.

I’m currently staking the minimum amounts for Enjin and XRP, 1000 of each coin, which at the time of writing is about $160 – $170 each. I plan to also stake the minimum amount for VeChain (once I rack up some more money), which is 70,000 coins, or around $615 at the time of writing.

I’ve been very happy with Crypto.com and their staking because of their high-interest rates per annum for staking investments, as well because of their wide selection of coins available for staking.

Ripple
Flexible (1.5% P.A.)
1 Month Term (2.5% P.A.)
3 Month Term (3.5% P.A.)

VeChain
Flexible (1%)
1 Month Term (2%)
3 Month Term (4%)

Enjin
Flexible (1%)
1 Month Term (2%)
3 Month Term (4%)

I’m seeing weekly gains on my cryptocurrency that I otherwise wouldn’t get (albeit they do amount to about a quarter a week for the bare minimum staking investment), and in 2020, my crypto feels safer than ever. Crypto.com has become my main exchange for staking (KuCoin is my main exchange for trading lesser-known alt-coins, and Binance.US is my main exchange for day trading.)

My Crypto.com Exchange (The Syndicate) Experience

For some reason, my location on the East Coast of the United States does not allow me access to Crypto.com’s exchange “The Syndicate.”

When I asked their support (which got back to me in around half a day during the peak of COVID-19 in the U.S) why, they just said that due to market regulations it could not be offered to me at this time. I shrugged it off because I’ve heard that other exchanges like KuCoin and Binance.US will suit my desires of getting into day trading just fine. I would have liked to take advantage of Crypto.com’s purported 50% off Bitcoin sales, but since I cannot access them, I cannot give an honest answer as to my experience with it.

My Overall Crypto.com Experience

Crypto.com gets a lot of flak, and a big part of that is because they took the domain name crypto.com, which is a moronic move in the eyes of many but hey, at least they didn’t try to own Bitcoin like a certain Craig Wright.

Unlike Craig Wright, Crypto.com has expressed honest business practices and is pushing the crypto community forward with a great exchange, great crypto debit cards, and above-average customer service.

I don’t believe Crypto.com is a scam, especially after the resilience shown by the company and its CEO after the relevant WireCard incident affecting their debit cards. If you’ve been on the fence about checking out Crypto.com, I’d so go ahead and do it—especially if you’re looking for a credible exchange to stake a variety of cryptocurrencies or if you’re looking to own one of these fancy metal Crypto.com debit cards.

P.S. Hive/eSteem Community, let me know your thoughts on Crypto.com, the WireCard scandal, and other Crypto debit card and staking solutions. I’d love to get more input from the community and converse with everyone.

This article was originally published on my website:
https://ghostfire.io/my-crypto-com-experience-crypto-debit-card-staking-etc/

Works Cited:
https://cointelegraph.com/news/crypto-cards-still-working-as-uk-regulator-suspends-wirecard-subsidiary
https://crypto.com/en/cards.html