Crypto.com Progress Report (Free)📈
HODLer's Den By Aromatic (Free Version)
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Disclaimer: Nothing in this report constitutes investment advice—I am just reporting on my accounts and its progress on each platform. You should not use this report to make financial decisions. I recommend you seek professional advice from someone who is authorized to provide investment advice.
Hey everyone and welcome to the HODLer’s Den!
Here you will find information on my crypto investment portfolio straight from a HODLer’s perspective. This section will focus on HODLing cryptos and interest-earning platforms.
Crypto.com
Updates
Crypto.com (CDC) App Ranks #2 as the Most Downloaded Cryptocurrency Apps in 2020 Worldwide
According to apptopia, these were the top 10 most downloaded cryptocurrency app in 2020.
Crypto.com has a strong global awareness thanks to its name and early mover advantage.
The data collected was during the crypto bear market of 2020.
Crypto.com Chain Mainnet Dryrun: Crossfire, Commenced with 220 Validators
Crossfire, the Crypto.com Mainnet Dry-Run, commenced on January 18th, 2021, and far exceeded expectations with over 3,000 applicants. The Dry-Run aims to stress test the network in a practical, real-world setting before its public release. More details here.
The Crypto.com Mainnet is expected to be released in Quarter 1 of 2021.
Crypto.com Visa Card Referenced as A Leading Partner Platform by VISA
With great perks and cash back rewards, it makes sense why many Crypto.com users use the platform solely for the Visa Rewards Card.
Lending is Now Live on the Exchange
Users can now deposit crypto as collateral and receive an instant loan with flexible terms and low interest rates. See more details here.
As a US customer, I do not have access to the CDC Exchange and hence I cannot write a review about this new loan service.
New Listings on the App
Every new listing solidifies and confirms that crypto is here to stay as adoption continues.
Crypto.com recently added five new coins to the app. As the adoption continues, expect more listings.
Chance to Win a Tesla
With Tesla investing in Bitcoin (BTC) and eventually accepting BTC as payment, Crypto.com is hosting a Tesla giveaway for trading BTC on the app.
Interest Earned
With the crypto space rallying and many coins hitting all time highs, all of my portfolios are up a hefty chunk and my Crypto.com Earn portfolio is no different. In the last 4 weeks, my portfolio grew almost 20000 USD—I believe this is the highest earnings from interest across all 4 platforms that I use at the moment.
My Crypto Earn portfolio is up 45% in the last 4 weeks and I am extremely satisfied. You can track my earnings progress on the four major interest-earning platforms that I use by checking out this Google Spreadsheet.
A large chunk of my Crypto Earn portfolio is in BTC (Bitcoin) and ETH (Ethereum) so it makes sense why I am up so much. BTC is currently at a yearly high of 46.9k USD while ETH is sitting at 1803 USD. With the release of Mainnet closing in, we are finally seeing some price movement for CRO as it is currently at 0.089 USD.
CRO Earnings
CDC changed the cash back rewards on the Icy White Card from 4% to 5% which went into effect at the beginning on October 2020. The extra 1% is adding up as I am using my card for nearly all purchases possible.
In the past week, I earned about 2575 CRO from staking, earning, and cash back rewards. With the price of CRO going up, all the CRO I earned previously have now appreciated in price. At CRO’s current price of 0.089 USD, I am earning roughly 229 USD every week—great for taking care of my weekly grocery bill and other minor bills.
Conclusion & Prospect
2021 is an exciting year for crypto as more institutions and retail begin investing in cryptocurrency. With the market rallying since the end of 202, it is nice to see CRO finally making a move. Although not as prominent as other alt coins, it is a move in the right direction given the release of Mainnet in Q1 2021 which is coming soon.
Given that Crypto.com survived the bear cycle, I believe it is in a great position to capture a large market share of new crypto investors. It has early mover advantage and a friendly name that is easy to search. In addition, it offers plenty of perks and rewards via the Visa Rewards Card which creates a sense of familiarity to current financial institutions.
Being a top downloaded app is a great achievement for Crypto.com as it signals adoption. And for it to be the top 10 most downloaded crypto app during a bear market says a lot about Crypto.com. Compared to Coinbase, I believe Crypto.com has way more to offer and is superior to Coinbase. I hope regulations will eventually allow US users to take a loan using crypto as a collateral among many other features that are currently restricted to us.
What I Am Doing
This section is dedicated to paid subscribers as I will go into details of what moves I am making with my interest-earning portfolios.
You are currently reading the Free Version. If you would like more information, please consider switching to a paid subscription.
Each week I will report on a different interest-earning platform that I use—mainly, Celsius Network, Bitrue, Crypto.com, and BlockFi.
If you are new to crypto or have considered joining new platforms, check out this referral sheet which organizes everything into a simple chart—you can earn over 250 USD in bonuses!