The Ultimate Review Of The Crypto.com Exchange

crypto.com ranking third by volume!The Crypto.com exchange is thundering through the ranks of daily volume for exchanges. At the start of June 2021, the average trading volume was around $200 million. 3 months later, in September 2021, they are closing in on an average trading volume of $3 billion a day!

An impressive growth in just 3 months by which they claim 3rd spot in coingecko’s daily ranking of volume, and (for now?) only being preceded by Binance and Coinbase.

In this review of the crypto.com exchange, we’ll find out all the cool options and advantages the crypto.com exchange has to offer, including staking CRO which gives you 10% interest on your staked CRO and giving you discounted trading fees.

 

1. Creating an account on the crypto.com exchange

First things first, you have to create your account on the crypto.com exchange. If you add referral code e2c2tt4fu3, we both get 10$ in CRO for free when you stake a minimum of 1.000 CRO or 50$ in CRO for free when you stake a minimum of 5.000 CRO for the first time.

Go through the process of creating your account. It will be linked to your crypto.com app account if you have one (if not, find out more about their cool payment card giving you up to 8% cashback!). Transferring funds from the app to the exchange is instant and free. Once you’ve created your account, you have access to over 150 trading pairs!

Other advantages for new (and existing) users are:

  • 10% interest when you stake a minimum amount of 5.000 CRO. The interest is paid out daily. Staking on the crypto.com exchange means locked your coins away for 180 days.
  • 0% trading fees for new users during the first 90 days
  • New users earn a 2% bonus on deposits made to Crypto.com Exchange. This bonus is paid out in CRO with a maximum bonus of 5.000 CRO. The bonus is only valid for the first 30 days after your account creation. Note that transferring funds from the app to the exchange does NOT count for the 2% first deposit bonus!
  • Up to 50$ sign-up bonus paid out in CRO when you add referral code e2c2tt4fu3 when staking at least 5.000 CRO for the first time
  • Trading fee discount when staking higher amounts of CRO. Other advantages unlock when staking CRO on the exchange as well.

Create an account on the crypto.com exchange and get 50$ for free!

2. Staking CRO on the crypto.com exchange and its benefits.

Let’s take a look at what benefits you get from staking CRO on the exchange.

staking benefits on the crypto.com exchange

  • The first benefit is a sign-up bonus, but you only get this when you use a referral code. Therefore, when you create your account on the crypto.com exchange, add referral code e2c2tt4fu3. Staking 1.000 CRO for the first time, gets you a 10$ bonus, staking 5.000 CRO or more gets you a 50$ bonus.
  • The second benefit is earning interest on your staked CRO. When you stake a minimum of 5.00o CRO, you will get 10% interest per year. This interest will be paid out daily to your crypto.com exchange wallet. When you start to stake your CRO, they will be locked for 180 days. You can of course add to your stake whenever you want, but the timer of 180 days will reset.
  • The third benefit is trading fees rebates. The more CRO that you stake, the fewer trading fees that you pay. When you stake 50M CRO, the trading fees are even free!
  • The fourth benefit is the syndicate allocation, more on that in chapter 3: the Syndicate event
  • The fifth benefit is crypto.com pay benefits, which become available when you stake a minimum of 10.000 CRO, more on that in chapter 4: Crypto.com Pay Benefits

3. The Syndicate event

You’ve probably already seen it on their Twitter or blog if you follow crypto.com a bit, but what exactly is the syndicate event? Well, it is an event that takes place almost every month where you can buy certain crypto at a 50% discount. In the past, you could buy Bitcoin, Maker, Neo, Ethereum with a 50% discount.

But how does it work? Let’s take a Bitcoin event as an example, where crypto.com sold 2 million worth of Bitcoin at a 50% discount. The price of one BTC was 34,459 CRO during the event instead of 68,918 CRO.

To participate, you had to meet 2 conditions.

  • The first is that you had to have staked a certain amount of CRO on the exchange platform.
  • The second is that you had to have a certain trading volume in the last 30 days.

When you stake higher amounts of CRO, you can allocate more CRO to the syndicate event and buy more Bitcoin at a discount. See below for an example of the 3 lowest staking levels. There are even higher staking levels, even up to 50 million in CRO.

crypto.com syndicate event

3.1 Example of participation in the Syndicate

Now let’s say as an example you had a stake of 10,000 CRO and you had a trading volume of $5,000, fulfilling the requirements for the second level.

You could now allocate up to 7,000 CRO to the syndicate event. This 7,000 CRO must be free and thus not staked. And it must be allocated in the ‘The Syndicate’ section of the crypto.com exchange. You can place any amount of CROs in the syndicate with a minimum of 200 CRO and a maximum of (in this case) 7,000 CRO.

Again as an example, let’s say you assigned the maximum number of CRO for this level, 7,000 CRO, to the syndicate. Once the event starts, all users who want to participate can place their CRO in the syndicate. Once the event is over, you’ll be able to see how many people attended and how much the ‘over-registration’ was for the event. This means that more people entered with more CRO than was given away in the beginning. Now you can calculate how much you actually get!

In this particular case, the oversubscription was 15.3x and the total amount of Bitcoin allocated for this event was 194.8 Bitcoin.

Your total gains for this will then be calculated as follows: you must divide 1 by the total oversubscription and multiply by 100:

  • 1 / 15.3 * 100 = 6.53% ⇒ this is your profit for this event!

How much Bitcoin will you get now if you allocated 7000 CRO to the syndicate? This is calculated as follows:

  • 7,000 CRO (your allotment) / 103.1 million CRO (total allotment) * 194.8 BTC (total amount of BTC) = 0.01322599418 BTC

How many CROs have you used for this purchase?

The price of one BTC in this event was 34,459 CRO as mentioned earlier. You got 0.01322599418 BTC from this event. Out of the 7,000 CRO you allocated, you used 456.23 CRO to buy Bitcoin at a 50% discount. The remainder of the 7,000 CRO will be refunded to your account.

So at the end of the event, you get:

  • 0.01322599418 BTC (worth 68,918 CRO per Bitcoin ⇒ 911.51 CRO)
  • 6,543.77 CRO refunded

So your profit is 455 CRO for this event!

4. Crypto.com Pay Benefits

Another great feature is that you can purchase gift cards, but this has to be done through the app (for a full review of the app, see my article here). If you buy these gift cards, you get instant cashback. If you have a stake on the exchange or in the ‘Earn section’ of the app (with a minimum term of 3 months) of at least 10,000 CRO, you will get double the cash back on all your gift cards. When you buy food and drink gift cards, you even get up to 10% of the CRO you spent!

The best option is to have a 10,000 CRO stake on the exchange, which gives you 10% interest per year, which gives you access to a higher syndicate allotment, and gives you access to double cashback when buying gift cards! You can buy gift cards for companies depending on which country you live in, but some of the companies are bol.com, Mediamarkt, Tesco, Decathlon, Footlocker, JustEat, Uber, and UberEats, Airbnb, Whole Foods, Burger King, H&M, Ticketmaster, and much more! The gift cards are in electronic form and are sent in the app and to your mail. If you want, you can even share these gift cards with your friends and family!

Create an account on the crypto.com exchange and get 50$ for free!

5. The Supercharger

The Supercharger is part of the crypto.com exchange and is a cool liquidity mining pool that allows users to deposit CRO so they can mine different crypto tokens. The minimum amount of CRO needed to participate in the Supercharger is 100 CRO. You can of course make multiple deposits, adding to your share in the supercharger, but every deposit has to be a minimum of 100 CRO. Withdrawing from the supercharger is of course also possible without penalties! Depending on the event, the APY ranges from 3 to 15%. See here for the past supercharger events!

The supercharger event takes place around one time a month and happens in two phases. The first phase is the ‘charging’ period in which you add liquidity to the pool by adding CRO. To more CRO you add during the ‘charging’ period, the bigger your share of the reward will be. The duration of the charging period varies on the event, from 10 days to 45 days.

At the end of the charging period, you will have to accept your reward, and then phase two begin. In phase 2, you will receive a small payout every day for 30 days with the rewards of the mining pool.

 

 

Disclaimers:

Note: This article includes affiliate links. I earn the same referral bonus as you when you sign up for either a card or for the exchange.

Note: I am not a financial advisor. Any information provided in this article or via emails is not intended as investment or financial advice. It is merely information based upon my own experience. The information I present is of a general nature and should merely be used as a place to start your own research and you definitely should conduct your own due diligence.