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 DeFi Wallet Now Supports Polygon (MATIC)
Users can now deposit MATIC into their DeFi Wallet.
This is great for Polygon users because it reduces friction between networks.
I can now move my assets from Polygon Network into my DeFi Wallet as long as I convert it into MATIC.
I no longer need to bridge my assets back to Ethereum or another network.
With DeFi Wallet, I can then swap into other available tokens, but swap fees and liquidity can vary.
Flare Network’s Upcoming Songbird (SGB) Airdrop
Crypto.com will be supporting the Flare Network’s Songbird (SGB) airdrop.
Users who have participated in the FLR distribution on the Crypto.com App and Exchange, will receive SGB tokens in a single drop and in the same ratio.
The SGB will be distributed once the technical background is prepared.
Plenty of platforms that I use are supporting this airdrop, including Bitrue. However, I am still awaiting for an announcement from Celsius Network.
Mint Your Own NFTs on Crypto.com/NFT
Users can now become a creator and mint their own artworks into Non-Fungible Tokens (NFTs) on the platform.
Interested users can submit an application and start minting right away upon approval.
They can also list their collectibles in the Marketplace.
This new feature makes it possible for any user to bring their creative vision to life as an NFT, share it with the community, or even sell their work.
Given how hot the NFT market has been, this is a great addition to the Crypto.com ecosystem because it increases access to artists and investors.
Crypto.com Visa Card
I had an unauthorized charge of 10.86 USD on my card last week and I am waiting for the investigation to finish.
I contacted support and froze my card. They will be issuing a new card after the investigation, stating that my card may have been compromised.
I had to send a selfie holding a piece of paper containing my name and date and “Crypto.com”.
I have been using this card for almost a year and this is the first issue I have had.
My card account had about 900 USD in it and they will transfer the funds over to my new card after the investigation.
Now that Crypto.com offers virtual cards, the funds will be available once I get my virtual card.
I prefer credit cards over debit cards because unauthorized transactions are normally easy to reverse. I have disputed charges on my Citi credit card and it was easy and seamless.
With BTC retracing back down to 42.7k, the whole market is down from the previous month. In the last 4 weeks, my portfolio dropped about 6.3k USD in value.
My Crypto Earn portfolio is down 6% in the last 4 weeks. It has not fully recovered, but it is making its way back. You can track my earnings progress on the four major interest-earning platforms that I use by checking out this Google Spreadsheet. If you look back, my portfolio is still not back to where it was in May 2021 before the crash—I am still 18k USD away from a full recovery.
A large chunk of my Crypto Earn portfolio is in BTC (Bitcoin) and ETH (Ethereum) so it makes sense. BTC is currently sitting at 42.7k USD while ETH is at 2926 USD. CRO was doing phenomenal moving from 0.12 USD up to 0.20 USD before dropping down to 0.15 USD.
If you have been following my Crypto.com reports, you know that I have been moving my CRO onto Osmosis to earn a yield. I used to have my CRO staked on the DeFi Wallet app to earn about 13% APR—which is not bad.
But on Osmosis, I am earning over 90% APR which is almost 10 times more than what I can earn from staking on DeFi Wallet. However, I have to pool CRO with ATOM or OSMO and there is a 14-day unbonding period to unlock the higher APR on Osmosis.
Conclusion & Prospect
As Crypto.com continues to expand, I see great things for users of the platform. Now that DeFi Wallet accepts deposits from Polygon (MATIC), I can easily move my funds between networks without the need to bridge. I will still have to pay a swap fee and network transfer fee, but the entire process should be much faster.
CRO price was nearing its all time highs before BTC started retracing. With Cronos mainnet coming soon on October 19, 2021, I think CRO will increase in price. Cronos is the EVM chain running in parallel to the Crypto.org Chain. It aims to massively scale the DeFi ecosystem, by providing developers with the ability to instantly port DApps from Ethereum and EVM-compatible chains.
I have strong hopes in Crypto.com and I will continue to HODL.
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.
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