I downloaded the app to try it out for myself. It was simple enough to verify my identity and get started. One thing I noticed is that the more CRO you stake (earning interest for locking the tokens) the more rewards become available.
For example, the most expensive physical debit card offers an incredible 8% cashback but requires you to stake $400,000 worth of CRO. If you can’t afford to park 400k in crypto, no worries – some of the perks offered by the lesser-prestigious cards include free Netflix, Spotify, and access to lounges.
The different tiers and benefits are available on the website, but I went ahead and ordered myself their most basic tier card. I tried out the exchange aspect of the application and found it pretty easy to use. The fees are very small but you can reduce them further by holding enough CRO token. See how everything revolves around their CRO coin?
In many ways, it reminded me of Binance. The Binance tokens utility comes from the fact that people who use the platform are incentivized to hold it. Many speculators have made comparisons between Binance and Crypto.com.
There’s a lot of momentum right now and I feel Crypto.com is just beginning to reach the mainstream. It almost reminds me of Bitconnect during the announcement of Bitconnect 2.0 when they would have a lot of celebrities and performances and crazy marketing.
We know that Crypto.com has a massive marketing budget and it looks like they aim to establish themselves as a mainstream platform. On the app you can earn CRO tokens by performing daily tasks and watching educational content. This reminded me a lot of Coinbase’s ‘earn’ platform.
I’m excited to be able to finally do things like order a pizza with my Crypto.com card! Let’s just hope I don’t turn into another Bitcoin Pizza Day story!!