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
Ask Me Anything (AMA)
Crypto.com (CDC) recently held an AMA with Kris Marszalek, the platform’s CEO, to provide investors with updates.
CDC Card
The CDC card is extremely popular world-wide with high demands resulting in Crypto.com being the largest crypto debit card company in the world. The rewards debit card will be released in Canada ahead of schedule—originally expected to be released in January 2021, the CDC cards have already begun shipping out to Canadians and are arriving before Christmas 2020.
In addition, CDC hopes to change the card from a debit card into a credit card. Per Marszalek, eventually the card will no longer require a top up; instead, the card will have a line-of-credit based on the amount of cryptos in your wallet. Overall, strong growth for Crypto.com’s debit cards.
Mainnet Testing
Crypto.com is excited to announce the release of Mainnet in Q1 2021 and is currently doing a dry-run, codename Crossfire, to perform stress testing on the network among other things. They are giving awards in the form of CRO (Crypto.com Coin) to any users interested in helping out with the mainnet dry-run but it is capped at 200 participants.
The mainnet dry-run is great news for CDC as it is the pivotal final step and the most important one before going live. Once it goes live, it will allow the Crypto.com platform to perform many new things such as allowing others to build on top of the network and the CDC ecosystem, providing more utility to CRO, and ultimately achieve similar goals as the Ethereum(ETH) network.
Prospect
The other chunk of the AMA was answering questions, and you can watch the entire video on YouTube. From the AMA, Marszalek emphasized that Crypto.com has one of the best security in the industry and investors should feel safe when investing with the platform. With the current bull market, Marszalek also believes that December 2020 is just “day 1” and that 2021 will be a strong year for cryptos. He also advised that those who have strong convictions and are able to HODL through the tough times will be greatly rewarded—hopefully, hinting that CRO will make a run in 2021.
Card Tier Update
From 18 Jan 2021 07:00:00 UTC, Card Staking Requirements will be updated as follows:
IMPORTANT:
Cardholders who maintain their current CRO Card Stake will continue to enjoy the benefits associated with their card, but:
The new staking requirements will apply should the cardholder (1) upgrade their card tier or (2) unstake and restake their CRO Card Stake after 18 January 2021.
Interest Earned
With the crypto space rallying, 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 over 6200 USD—I believe this is the highest earnings from interest across all 4 platforms that I use at the moment and it will continue to increase with this bull market.
My Crypto Earn portfolio is up 28% 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 its all time high of 23.6k USD while ETH is sitting at 652 USD. Even though the price of CRO dropped, my legacy coins are able to absorb the losses.
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 addition, I am earning an extra 2% CRO on my 3-month lockups on Crypto.com Earn because of my staking tier.
In the past week, I earned about 1505 CRO from staking, earning, and cash back rewards. While the price of CRO did take a hit and is currently at 0.06 USD, I am earning roughly 90 USD every week. As the price of CRO goes up, all the CRO I am earning will increase. The silver lining for CRO price at 0.06 USD is that I am earning more CRO from my staking, earning, and cash back rewards.
Conclusion & Prospect
Finally, an AMA from Crypto.com that is not in response to a disastrous change in the platform. This time around, the overall vibe from the AMA was positive with good news for the platform in the first quarter of 2021. Instead of an apologetic mood like the previous two AMA, it felt refreshing knowing that mainnet is close to release and that the CDC cards continue to expand into new territory.
Despite the bull market, CRO price still hovers around 0.06 and 0.07 USD. Even with the positive news from Marszalek and everything in the pipeline for CDC, the price of CRO barely moved. However, like Marszalek mentioned, it is just “day 1” and the beginning of the bull market will occur in 2021 as more companies begin investing in crypto.
With Crypto.com expanding worldwide, it is a great platform that is primed to capture exponential growth from new investors.
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!
This is part of the FREE subscription package that goes out to hundreds of investors. I also have a paid subscription package which includes exclusive content and insights. To really get the most bang for you buck, check out my bundle packages through Patreon.
For a limited time I’ll also be offering an option to pay in DAI. Using this method you’ll get an annual subscription for only 50 DAI.