Are you a cryptocurrency hodler? Are your assets sitting in your cold storage wallet not generating any interests? Crypto Earn by Crypto.com now helps to alleviate your problem – INTRODUCING CRYPTO EARN – NOW AVAILABLE IN 49 US STATES.
Like all good things, I was skeptical at first. But I have since decided to give it a try anyway seeing how the Crypto.com team is continuing to buidl innovative products – in spite of the crpytocurrency bear we are in for the past 2 years. After a couple of months of testing, I am happy to share with you how the Crypto Earn program works!
You can find the Crypto Earn current interest rates on the Crypto.com app itself. The interest rates do fluctuate, but if you have deposited for a fixed term (e.g. 3 months for 8%), Crypto.com will pay out the interest as advertised until the fixed term ends. The most rewarding is receiving interest in the form of your deposited coin. Imagine getting paid interest in BTC! 😀
HOW TO DEPOSIT YOUR CRYPTO INTO CRYPTO EARN
In the above demo recording (I have deposited 1 ETH into the Crypto Earn fixed term at 2% p.a. Honestly, I am not too happy that Crypto.com has reduced the ETH interest rate to 2% p.a. but nonetheless, it still beats 0% if I hold it in cold storage.
Furthermore, proof of stake on ETH 2.0 is still somewhere out (delays are very common if you have been around – hopefully it will launch successfully as planned in Q4 this year) and it is good to earn some nominal interest while waiting.
HOW TO WITHDRAW FLEXIBLE ASSETS FROM CRYPTO EARN
Next up, I have a demo of withdrawing ETH from the Crypto Earn Flexible Term program. As you can see, it is very simple to deposit and withdraw from Crypto Earn, and with the flexible term program, there is no lockup involved. You can earn interest and sell your crypto when the timing is right!
INTEREST FROM CRYPTO EARN ROLLING IN
Now, let’s go earn some crypto interests while waiting for prices to rocket! If you like this article, do use my referral code CO39VT86CU to register for a Crypto.com account, you’ll get 50 USD in MCO Tokens if you sign up with my referral code! You could also refer to my other article on how I used the MCO VISA Card to spend my cryptocurrencies while traveling!
UPDATE: Received my crypto.com CRO airdrop after a year of waiting. Set up a crypto.com exchange account and it was intuitive and easy to use. I will write a guide about the crypto.com exchange soon! Stay tuned!
NOTE: Digital Currencies are NOT bank deposits, are NOT legal tender, are NOT backed by the government, and accounts and value balances are NOT subject to Federal Deposit Insurance Corporation or Securities Investor Protection Corporation or any other governmental or government-backed protections. Legislative and regulatory changes or actions at the State, Federal, or international level may adversely affect the use, transfer, exchange, and value of Digital Currencies.
* The interest you receive is simple daily interest and will not be compounded