ANY TOUGHTS ON CRYPTO.COM ? (LOOKING FOR ADVICE)

[FrankZ]

Lately I've seen a lot of ads on Crypto.com platform , I decided to check them out and it came to my interest a particular way to earn they offer, it is the staking of money for a certain term of time and getting a percentage back at the end of the contract. Seems to me very low-risk, what is the catch folks? If anyone has invested on that modality.

Attachment of screenshot for you to understand better what I refer to :

 

[crypto7figs]

Short answer: stay away.

Long answer: They are centralized; even tho they are big, they are centralized.
Check what happened with Celsius.

Also, I remember crypto.com when they made enough money to acquire this domain.
It was MONACO back then. They hold our money, promising a crypto card with many incentives.
They did it after 3 years... Easy right? They grabbed so many millions from us, things got easier.
The question is: if something happen, who will pay the bill? The farmers/stakers/customers, and they will run out of the business

 

[ADA Lovelace]

I use crypto.com to buy. I used supercharger for a while, but it's a waste of time. So I took my Cronos (CRO) and sent it to crypto.com defi wallet and i got a 12% apy. I never used crypto.com to stake, whenever I buy I send it to my wallets. Not your keys, not your money

Exchanges give that apy because they use it to lend to traders for leveraged trades or to provide liquidity to DEXs. They are doing a lot of money with your USDC that u lend them, and give u a little part of the cake.

The figures they give you are per year, you have to convert those figures into 3 months

 

[FrankZ]

Short answer: stay away.

Long answer: They are centralized; even tho they are big, they are centralized.
Check what happened with Celsius.

Also, I remember crypto.com when they made enough money to acquire this domain.
It was MONACO back then. They hold our money, promising a crypto card with many incentives.
They did it after 3 years... Easy right? They grabbed so many millions from us, things got easier.
The question is: if something happen, who will pay the bill? The farmers/stakers/customers, and they will run out of the business

Thanks man, think I'll better gamble in IQ option , I love binary options

 

[FrankZ]

I use crypto.com to buy. I used supercharger for a while, but it's a waste of time. So I took my Cronos (CRO) and sent it to crypto.com defi wallet and i got a 12% apy. I never used crypto.com to stake, whenever I buy I send it to my wallets. Not your keys, not your money

Exchanges give that apy because they use it to lend to traders for leveraged trades or to provide liquidity to DEXs. They are doing a lot of money with your USDC that u lend them, and give u a little part of the cake.

The figures they give you are per year, you have to convert those figures into 3 months

Nice info man, thanks!

 

[Fasterxho]

I would stay away, sites like that just need an excuse to block your money.

 

[alurosu]

The support team is pretty bad from my experience. They assign you different people that don't read the previous messages on the same issue. I would not trust them with my money.

This has been a few years ago, I don't know if they changed.

 

[Seo Captain]

It is good but not better than binance.

 

[onlinemarketer12]

Staking is one of the highlights of this exchange. There are many people using this exchange, you can use for small amounts.