View Full Version : Crypto 101?
AMSOILGUY
01-11-2022, 11:29 AM
I followed Investing 102 for many years and credit Greg Weld(RIP) with helping me get my first brokerage account, custodial brokerages for my kids, recognizing that I could get in the game without paying administrative fees and doing it myself. I don't remember the topic of crypto currencies being talked about. Maybe I missed it or at the time it wasn't relevent to 101. I feel like things have progressed positively since 101 began for crypto. You can earn all kinds of interest and build lots of passive income.
Let's get a crypto 101 going so we can learn from each other in this space!
I bought my first crypto about 2 years ago. It took me a long time to look at what was going on. I had a good friend telling me you need to get in the game. I hated the idea of the whole thing"electronic money". With his persuasion and doing lots of research into blockchain technology and the politicians trying to regulate it rather then destroy it I dove in. My only regret is I didn't do it sooner. Who knows what's to come and yes I know I'm late to the Bitcoin train but I believe that is just the tip of the iceberg. I started out on Robinhood like lots of people do but quickly learned you never own the crypto because you can't remove it from the app. Their hand was really exposed with the whole AMC AND Gamestop fiasco. I would not buy Crypto there because its not really yours.
I then transitioned to Coinbase (https://www.coinbase.com/join/ehlers_z0r?src=android-link) which is a great platform and still use it today. I then learned about Coinbase Pro which has way less fees then regular Coinbase. I have moved most of my crypto over to Crypto.com (https://crypto.com/app/e7gq64rtgz) because that is where I found the best interest for lots of what I was buying previously. I got their debit card which pays me rewards in crypto for all my purchases."I can explain more about this if you have questions"
Most of the exchanges offer free crypto for downloading the apps and referring. I did include mine but really am more interested in learning what you all have been doing in Crypto.
What exchanges are you guys using?
What defi wallets do you recommend?
What NFT projects are you watching/hodling?
What NFT exchanges are you using?
What tokens/currencies are you earning passive income from?
What security protections are you using and why?
Yes I know some people probably think its all a scam or a phonzi scheme and if you have information we should all know about those things lets here them also. It's definitely a big boy playing field as in if you make a mistake it may be irreversible.
I can share some stories from people I know who lost money transferring it in formats the receiving exchange/wallet didn't except.
Definitely be careful and do research like any other investment but I feel like it's here to stay. Many of you probably figured this out long ago and have reaped the rewards. If you will share your story I want to hear about it as do others I'm sure.
nickcornilsen
01-11-2022, 11:37 AM
Crypto is not an investment, any more than other ponzi schemes are. It's a gamble.
Crypto zealots will attack this, I won't respond. There is plenty of sober analysis out there to read on the structural and inherent risks and issues with cryptocurrency, seek it out and make sure you understand it before committing any money to crypto.
I would NOT count on it existing for very long.
AMSOILGUY
01-11-2022, 12:09 PM
Crypto is not an investment, any more than other ponzi schemes are. It's a gamble.
Crypto zealots will attack this, I won't respond. There is plenty of sober analysis out there to read on the structural and inherent risks and issues with cryptocurrency, seek it out and make sure you understand it before committing any money to crypto.
I would NOT count on it existing for very long.
Maybe this topic will derail fast. Many people feel the same way as you Nick. Based on conversations I've had with people. The majority of people don't want to learn anything about it. I'm the only person in my family even extended who is in crypto.
nickcornilsen
01-11-2022, 02:10 PM
Maybe this topic will derail fast. Many people feel the same way as you Nick. Based on conversations I've had with people. The majority of people don't want to learn anything about it. I'm the only person in my family even extended who is in crypto.
Don't try to paint those who are warning against it as just "not knowing what it is."
I researched it quite alot 4-5 years ago, and even had some bitcoin for a bit. Made a bit of money. From that research, I realized it's not something that should constitute any significant portion of your investment portfolio. Sooner or later, it will collapse because there are no stabilizing feedback mechanisms for the price, and even as people adapt to the notion of a digital currency, nations will will ban bitcoin/any other 'coin' and create their own. It will be a victim of it's own sucess.
buying these coins as speculative 'investments' also isn't investing in "block-chain technology" either.
AMSOILGUY
01-11-2022, 03:49 PM
Don't try to paint those who are warning against it as just "not knowing what it is."
I researched it quite alot 4-5 years ago, and even had some bitcoin for a bit. Made a bit of money. From that research, I realized it's not something that should constitute any significant portion of your investment portfolio. Sooner or later, it will collapse because there are no stabilizing feedback mechanisms for the price, and even as people adapt to the notion of a digital currency, nations will will ban bitcoin/any other 'coin' and create their own. It will be a victim of it's own sucess.
buying these coins as speculative 'investments' also isn't investing in "block-chain technology"
I'm not saying you or anybody else is thinking something or doing anything. I was looking for a conversation about a popular topic in "investing" Im also not advocating for anything. You clearly do not think its worthy of being called an investment and I'm ok with that. I call it that because thats how I look at it.
CRCRFT78
01-11-2022, 08:40 PM
I'd like to hear what some of you think about this also. I remember it being brought up early on in the Investing 101 thread and the backlash it received then. Those that bought into Bitcoin back then should be able to offer some insight now. The one thing I have a hard time with is it seems as soon as you learn a little something about one crypto, another one pops up and your back to square one.
Vegas69
01-12-2022, 11:56 AM
Telling somebody how to invest their money is like telling them what car to buy or type of wife to court. Everybody does it a little bit different and in my book, that's OK. I for one would like to learn about it as I know absolutely NOTHING. That's why I own absolutely NO crypto. LOL
AMSOILGUY
01-12-2022, 12:10 PM
Sweet I'm glad I'm not solo on this. I'm here to learn as well anybody who is in the space care to share? I dont want to come across as somebody who knows much. I will share what I've got going after I get some sleep. 16 hour days.
AMSOILGUY
01-13-2022, 07:21 AM
Another amazing part about this is if you have cash or low return "safe money", that isn't even keeping up with inflation you can invest in the stable coins and earn great returns. Those coins do not move in value. There are several but your always limited by the exchange you use. Thats how I ended up switching and using crypto.com app. They had SHIB early and I wanted it. Thats a gamble Nick, not doubt.
It took me a long time to get past thinking all of it can just be taken away because its electronic. Or that paying the neighbor kid will be traceable. Only took 1 year of heavy persuasion from a friend:poke:. I heard about Bitcoin like everybody else and thought no way. Now I hold it and earn 6.5% on it. I followed 101 longer before opening an account with schwab.
My understanding of how the crypto currencies work is the base is the blockchain. Then you have all sorts of different arms that are programs that use the blockchain to interact with the other programs. Each program can have a token I think. Along with the blockchains.
Vegas69
01-13-2022, 05:08 PM
Was that English or Greek? LOL If that's 101, I better sign up for diapers and pre-school.
AMSOILGUY
01-13-2022, 05:30 PM
Was that English or Greek? LOL If that's 101, I better sign up for diapers and pre-school.
Haha. Well I think English but weird words. Pre-school is in session let's learn fast its a fast paced space. Plus the market has been going down.
dhutton
01-13-2022, 05:51 PM
I remember Greg saying that when the grocery clerk etc is talking about buying something that is the time to NOT buy. This seems like one of those moments imho….
Don
Vegas69
01-13-2022, 07:55 PM
I hate to say it Don, but it all seems about too good to be true right now and I couldn't care less. As the late great John Wooden said, "It tends to work out best for those that make the best of how things work out." Or something like that.
AMSOILGUY
01-13-2022, 10:22 PM
Where my thought process is on this and I don't know if its right but I stick to the blockchains and am long term on this like 10 -20 years and continue to dollar cost average. On the Crypto.com app they have missions you can do everyday to earn diamonds. Once you earn 25 diamonds you get to open a mystery box that contains a certain amount of CRO which is the utility token for that platform. I buy 20 dollars of crypto everyday not always the same one. They reward me with 1 diamond for checking in on the missions and another 5 diamonds for buying the $20 dollars in crypto daily. They have a $500 daily mission that rewards you 60 diamonds but I only do that like 1 time a month.
Download the app and just start messing with it. Have to get started sometime. www.crypto.com (https://crypto.com/app/e7gq64rtgz) I am pretty sure they give you 25 dollars in CRO just for signing up.
Ketzer
01-14-2022, 07:18 AM
It seems easy to put cash (real money) into crypto... what is involved in getting your cash back out of the system? Penalties? Waiting periods?
Jeff-
AMSOILGUY
01-14-2022, 12:49 PM
Its just as easy as putting in. Waiting period is a normal bank transaction time frame. Same tax laws apply to crypto. Commisions very by exchange.
AMSOILGUY
01-16-2022, 12:25 PM
Let's get this topic going because its blowing up like crazy. I'm guessing that many have heard of the Bored Ape Yacht Club "BAYC". Eminem the artist just bought one for 450k. They are electronic art. That have benefits of owning making them an asset. There are marketplaces where these are traded and released at mint. Minting is the first time its introduced to the market. These markets allow you to pay using crypto or fiat. Do you have any?
AMSOILGUY
01-16-2022, 12:57 PM
In November Crypto.com released their first PFP collection of 10,000 1st editions Loaded Lions. These are my first NFTS . Right now the least expensive Loaded Lion is $2,900 mint price $200. The market place website is www.crypto.com/nft. Get one!
AMSOILGUY
01-18-2022, 02:34 PM
I remember Greg saying that when the grocery clerk etc is talking about buying something that is the time to NOT buy. This seems like one of those moments imho….
Don
Don it sounds like the grocery clerk at Walmart isn't going to have a choice because they are creating their own currency.
AMAZON says they are working on excepting crypto for purchases in 2022. From what I read its between currencies MATIC, SHIB, AMP, or HOKK.
Microsoft just bought Activision so they can get a bigger presence into the Metaverse.
Just more writing on the wall that this probably is going to become the norm I think.
What do you guys think?
Vegas69
01-18-2022, 05:32 PM
I think I'll stick with real estate, boring mutual funds/index funds, and running my two businesses. I have a little interest in this stuff, but not enough to really gain the understanding I need to invest. It seems like an awful tricky environment and that raises a red flag for me.
XLexusTech
01-18-2022, 06:14 PM
For what is worth lots of signal that BTC is in a bear market situation (look up definition 20% decline.. ) and headed for a big slide in the next few months..
I wouldn't touch it.
AMSOILGUY
01-18-2022, 10:56 PM
For what is worth lots of signal that BTC is in a bear market situation (look up definition 20% decline.. ) and headed for a big slide in the next few months..
I wouldn't touch it.
Great info and I have been seeing this as well. Now if this is true time will tell. The thing that is so appealing about BTC is that when it is all said and done and all of it is in circulation there isn't even enough for every millionaire in the world to own 1. I know that doesn't mean that all millionaires will want to own it, until you tell them they can't. :waveflag:
I haven't rode in a Tesla and actually don't know a single person that owns one. I have read reviews and many owners are extremely happy with them. Tesla accepts BTC for payment on their product, does that mean something?
AMSOILGUY
01-22-2022, 04:28 AM
It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!
Vegas69
01-22-2022, 07:52 AM
Since this is Crypto 101, can anybody explain Crypto simply enough that a teenager can understand it? (Or a middle aged guy with zero knowledge)
slimjim
01-22-2022, 10:24 AM
Defining Crypto in the way you delivered the question goes down the path of Bitcoin, XRP/ripple etc, ie the actual currencies used within various block chains., and yes they're being used as currencies, a large number of celebrities and sports players are now being paid in it. It goes a whole lot deeper than that with smart contracts via the way of the Ethereum block chain to keep it brief.
I'm about 6 months ahead of you, so yes, I missed the crazy days, but I've got a a couple of friends who have the stories I'm sure you heard that got you interested. The BEST way to learn more is literally YouTube, heck, If you find any great explanatory videos post them here.
The hard part in "Crypto" is accepting the lack of physical backing, and having faith in the future growth of the online. I believe the development of WEB3.0 and of course the "Metaverse" are a couple things promising a fine future.
I have a little crypto, literally just holdings in the ones I like, the ones that have uses and I see being used more and more in the future(no, not bitcoin). I invest more in dividend shares but I find some solace knowing that companies like NIKE, Facebook(META), Twitter(BLOCK), Samsung etc are all dumping 10's of millions into the metaverse.
Then their's NFT's...
Then there's gaming...
slimjim
01-22-2022, 10:27 AM
It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!
Most crypto moves under the wholly speculation of bitcoin, for now it mostly all resides under one volatile reputation/speculation. It further does not help that the stock markets took such a tumble, and that could be what caused the big drop over the last 48hrs.
XLexusTech
01-22-2022, 05:00 PM
It hurts to look at your accounts right now! Did something fundamentally change in crypto? Not that I know of. Great chance to get in for really low prices. I'm doubling down!
What makes Crypto real is Institutional investment. That started happening a few years ago. Whats driving it down right now is basic fundamentals. Specifically supply and demand, Demand is down and Institutional investors are withdrawing.
We're e also in for a Bear market.. many are suggesting a 20% drop in the major Indexes as we drive through Midterm elections, covid recovery and inflation.
Buckle up everyone.
AMSOILGUY
01-23-2022, 01:02 PM
Since this is Crypto 101, can anybody explain Crypto simply enough that a teenager can understand it? (Or a middle aged guy with zero knowledge)
Crypto is electronic money. From what I see its all about who can transfer it fastest and with the least amount of fees. "Security and congestion slow this down" It's super competitive which explains why all kinds of new technologies and ideas are happening.
AMSOILGUY
01-23-2022, 01:04 PM
Defining Crypto in the way you delivered the question goes down the path of Bitcoin, XRP/ripple etc, ie the actual currencies used within various block chains., and yes they're being used as currencies, a large number of celebrities and sports players are now being paid in it. It goes a whole lot deeper than that with smart contracts via the way of the Ethereum block chain to keep it brief.
I'm about 6 months ahead of you, so yes, I missed the crazy days, but I've got a a couple of friends who have the stories I'm sure you heard that got you interested. The BEST way to learn more is literally YouTube, heck, If you find any great explanatory videos post them here.
The hard part in "Crypto" is accepting the lack of physical backing, and having faith in the future growth of the online. I believe the development of WEB3.0 and of course the "Metaverse" are a couple things promising a fine future.
I have a little crypto, literally just holdings in the ones I like, the ones that have uses and I see being used more and more in the future(no, not bitcoin). I invest more in dividend shares but I find some solace knowing that companies like NIKE, Facebook(META), Twitter(BLOCK), Samsung etc are all dumping 10's of millions into the metaverse.
Then their's NFT's...
Then there's gaming...
Are you in any NFT projects.
slimjim
01-23-2022, 07:21 PM
No I’m not, but I am trying to understand them better. That’s some next level insanity
AMSOILGUY
01-23-2022, 07:34 PM
No I’m not, but I am trying to understand them better. That’s some next level insanity
As I mentioned earlier I got in on the drop for the Loaded Lions PFP. That was my first ever and I am holding to see what happens with them. Rumor has it the super bowl commercial is going to have them in it. I am not really into gaming so that hasn't been big for me yet.
Which exchange are you using to buy currencies?
XLexusTech
01-24-2022, 03:23 PM
We're e also in for a Bear market.. many are suggesting a 20% drop in the major Indexes as we drive through Midterm elections, covid recovery and inflation.
Buckle up everyone.
Well then that was fortuitous
AMSOILGUY
01-25-2022, 06:18 AM
Great advice! Perfect time to buy when it's getting crushed. When the stock market "recovers" these assets will also I think. Just wait until the decision tomorrow we're going to get crushed probably another bad day. I've got the harness and cage because we might be rolling. I'm looking years ahead and trying to invest in the infrastructure of the ecosystem. Risky business no doubt, who knows?
Vegas69
01-27-2022, 06:46 AM
I haven't seen anything here that gives me enough clarity to even consider Crypto as a personal investment. I'm not saying it's not valid, it's just too tricky for me to risk my money.
The dow has nearly doubled in 6 years and quadrupled in 12. Has the economy really grown on that scale? I find that very hard to believe.
AMSOILGUY
01-28-2022, 06:22 AM
I haven't seen anything here that gives me enough clarity to even consider Crypto as a personal investment. I'm not saying it's not valid, it's just too tricky for me to risk my money.
The dow has nearly doubled in 6 years and quadrupled in 12. Has the economy really grown on that scale? I find that very hard to believe.
I give you that it does sound tricky. Actually I have had some hiccups learning about how different tools work. The best bet I think is to download one of the apps I recommended on page 1 and look at the resources to help understand more. Free crypto for watch .30 second videos. Lots of different currencies will give a little away if you will watch the video. These can be found on the Coinbase and Crypto.com apps. I can't begin to teach you in much depth. I'm new also.
Expect all the normal information needed to open a bank account to get a crypto account.
silvermonte
02-03-2022, 04:55 AM
I got into bitcoin about 15 years or so ago, it was around $500 apiece then, and I purchased a few thousand bucks worth. I used blockchain and it was easy to buy and sell then, just like any website that you buy and sell stocks. How I look at this market is the coins are just stocks with nothing backing it except public demand. More demand and the price goes up.
I sold my bitcoin when it made the news that it was up to $25k apiece, I thought that was going to be the top of the market so I got out. I had actually forgot that I purchased them years prior. What ended up being a shock was how much of a pain it was to sell them in the current market. New laws and such, the old program I had wouldnt actually let me sell them under current Iowa laws. I had to transfer all my coins over to a buddy that still dabbles in the stuff and has a current program and he sold them for me. I made a pretty penny from them but I was in this market way early. Not sure I would get into it today with all the new versions of coins coming and going.
That being said I dont think coins are going to disappear anytime soon. I think the younger generations really embrace it just like teslas are their "muscle" cars of today.
AMSOILGUY
02-03-2022, 05:53 PM
Thats an awesome story. Wow 500 dollar Bitcoin. Now you could have held that Bitcoin and earned good interest. The demand is rising. Countries are adopting it as currency. I agree the new coins are risky as all get up. But you can still buy Bitcoin and hold it. Are you going to get back in?
silvermonte
02-03-2022, 09:33 PM
I agree the new coins are risky as all get up. But you can still buy Bitcoin and hold it. Are you going to get back in?
Its very unlikely I will get back in. I made my money and cant complain. I looked at it as a cheap hail mary investment/gamble when I purchased bitcoins years ago. I figured what is a few grand in the big picture, with that idea the large gains in bitcoin like what I previous had are long past.
Even if bitcoin was to hit 1 million apiece thats a 20 fold profit from current prices, while not bad I wouldnt want to roll the dice it. I have more secure places I would invest my money. If I was to get back it with would be with the doge coin or what ever its called, throw $1000 at it and wait a decade.
I have not looked much into the newer coins buy they seem to have a lot of gimicks to get you to invest in them and then a month later they disappear and who ever was holding all the cash made off like a bandit. I think that is also what scares most people away from this form of currency.
slimjim
02-04-2022, 09:07 AM
Sounds like you had a wallet/holding problem that made things difficult to withdraw. The ease of access is one of my favorite attributes crypto.
Unlike my shares, having to wait for markets to open, and then clearing into my bank account, if I sell any crypto, it’s in my account in minutes, and if I see something worth buying or the market drops like it did last week I can payid/Osko to my wallet(binance(not US)) instantaneously and buy.
You’re dead right in avoiding those gimmicky cryptos that come and go however.
Bitcoin and key players stick around however.
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AMSOILGUY
02-05-2022, 01:20 PM
Sounds like you had a wallet/holding problem that made things difficult to withdraw. The ease of access is one of my favorite attributes crypto.
Unlike my shares, having to wait for markets to open, and then clearing into my bank account, if I sell any crypto, it’s in my account in minutes, and if I see something worth buying or the market drops like it did last week I can payid/Osko to my wallet(binance(not US)) instantaneously and buy.
You’re dead right in avoiding those gimmicky cryptos that come and go however.
Bitcoin and key players stick around however.
Sent from my iPhone using Tapatalk
Did you get a crypto card with Binance? Thats my favorite perk from the exchange. I get 3% back on all purchases in CRO token. What do you get?
slimjim
02-05-2022, 07:05 PM
Did you get a crypto card with Binance? Thats my favorite perk from the exchange. I get 3% back on all purchases in CRO token. What do you get?
Unfortunately it’s still not available with Binance australia just yet.
It looks like a neat perk though
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AMSOILGUY
02-07-2022, 05:47 AM
Unfortunately it’s still not available with Binance australia just yet.
It looks like a neat perk though
Sent from my iPhone using Tapatalk
Oh man that 3% is just the beginning. Do you hold Matic crypto? For anybody wondering what that is, its a blockchain created as a less expensive but fast alternative to Ethereum. There are millions of dollars in transactions happening daily on this blockchain.
Blockchain Definition: a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network
slimjim
02-07-2022, 06:40 AM
Oh man that 3% is just the beginning. Do you hold Matic crypto? For anybody wondering what that is, its a blockchain created as a less expensive but fast alternative to Ethereum. There are millions of dollars in transactions happening daily on this blockchain.
Blockchain Definition: a system in which a record of transactions made in bitcoin or another cryptocurrency are maintained across several computers that are linked in a peer-to-peer network
I do, picked up more a week ago. +39% on that one
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AMSOILGUY
02-07-2022, 10:13 PM
I do, picked up more a week ago. +39% on that one
Sent from my iPhone using Tapatalk
Nice! I got into that nearly right away when I first entered crypto($0.45). I plan to hold it for a long time. Do you earn interest on your Matic? I am earning 12% on mine and its being deposited into my wallet every 7 days. Its hard to believe that just for not selling it I will double my token count in less then 10 Years. Are you doing this with your holdings?
slimjim
02-07-2022, 10:28 PM
Nice! I got into that nearly right away when I first entered crypto($0.45). I plan to hold it for a long time. Do you earn interest on your Matic? I am earning 12% on mine and its being deposited into my wallet every 7 days. Its hard to believe that just for not selling it I will double my token count in less then 10 Years. Are you doing this with your holdings?
I stake my ethereum for 2.0, it’s variable and now down to about 6%, in the past I’ve staked several whenever the APY is high, but for now only eth. I went through a “trading” phase during a couple covid hotel lockdowns and wanted all currencies available to me. It was somewhat successful but my trades just weren’t large enough for decent returns worth my time, plus I got sick of checking the exchange every 20 minutes. So for now I just DCA each month about 1/3 what I do with stocks.
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AMSOILGUY
02-08-2022, 01:47 AM
I stake my ethereum for 2.0, it’s variable and now down to about 6%, in the past I’ve staked several whenever the APY is high, but for now only eth. I went through a “trading” phase during a couple covid hotel lockdowns and wanted all currencies available to me. It was somewhat successful but my trades just weren’t large enough for decent returns worth my time, plus I got sick of checking the exchange every 20 minutes. So for now I just DCA each month about 1/3 what I do with stocks.
Sent from my iPhone using Tapatalk
Yes I stake my ETH on Coinbase for 2.0 as well, I think I am only getting 4.5%. I did that before I was on Crypto.com. In my first post I put a link to Crypto.com (https://crypto.com/app/e7gq64rtgz) did you check it out? I went in the discord for CDC and asked if all the same benefits for US residents is the same as Australia and it looks like you can enjoy the same benefits I am getting. The staking term for the Matic is only 90 days for maximum interest so it's not locked as long like the ETH.
My favorite benefit on the platform is the crypto debit Visa card. First the card is metal and comes in very bright colors which is pretty awesome. The card is a debit card not a credit card so you just add funds on it from your regular bank card for free and then use it like normal and receive crypto.com coin back on purchases. They have 4 lvl's of cards. To receive the debit card you must purchase CRO and stake it for the debit card. After the staking period is over you keep the card benefits and can do what you want with the CRO tokens.
LVL 1 is $400.00 in CRO and you receive 2% back on your purchases.
LVL 2 is $4000.00 in CRO (LVL card I have) and you receive 3% back on purchases. The CRO you stake for the card you earn 10% on that CRO while its staked.
Plus additional interest on all other currencies in the earn programs . So the Matic I hold I would normally get 10% on the exchange but because I have LVL 2 card I get 2% additional interest. You get 1 VIP airport lounge benefit plus reimburse you for Netflix and Spotify.
LVL 3 is $40,000.00 in CRO and you receive 5% back on purchases. The CRO you stake for the card you earn 12% on the CRO while its staked. You get 2 VIP airport lounge passes plus reimburse you for Amazon prime, Netflix and Spotify, 10% discount on Expedia and AIRBNB.
LVL 4 is $400,000.00 in CRO and you receive 8% back on purchases. The CRO you stake for the card you earn 12% on the CRO while it's staked. You get all the benefits mentioned above plus more.
Its amazing to me what is being offered from the exchanges.
slimjim
02-08-2022, 02:03 AM
Yes I stake my ETH on Coinbase for 2.0 as well, I think I am only getting 4.5%. I did that before I was on Crypto.com. In my first post I put a link to Crypto.com (https://crypto.com/app/e7gq64rtgz) did you check it out? I went in the discord for CDC and asked if all the same benefits for US residents is the same as Australia and it looks like you can enjoy the same benefits I am getting. The staking term for the Matic is only 90 days for maximum interest so it's not locked as long like the ETH.
My favorite benefit on the platform is the crypto debit Visa card. First the card is metal and comes in very bright colors which is pretty awesome. The card is a debit card not a credit card so you just add funds on it from your regular bank card for free and then use it like normal and receive crypto.com coin back on purchases. They have 4 lvl's of cards. To receive the debit card you must purchase CRO and stake it for the debit card. After the staking period is over you keep the card benefits and can do what you want with the CRO tokens.
LVL 1 is $400.00 in CRO and you receive 2% back on your purchases.
LVL 2 is $4000.00 in CRO (LVL card I have) and you receive 3% back on purchases. The CRO you stake for the card you earn 10% on that CRO while its staked.
Plus additional interest on all other currencies in the earn programs . So the Matic I hold I would normally get 10% on the exchange but because I have LVL 2 card I get 2% additional interest. You get 1 VIP airport lounge benefit plus reimburse you for Netflix and Spotify 10% discount on Expedia.
LVL 3 is $40,000.00 in CRO and you receive 5% back on purchases. The CRO you stake for the card you earn 12% on the CRO while its staked. You get 2 VIP airport lounge passes plus reimburse you for Amazon prime, Netflix and Spotify, 10% discount on Expedia and AIRBNB.
LVL 4 is $400,000.00 in CRO and you receive 8% back on purchases. The CRO you stake for the card you earn 12% on the CRO while it's staked. You get all the benefits mentioned above plus more.
Its amazing to me what is being offered from the exchanges.
They’re some great offers indeed, I did open a crypto.com account when I began but ultimately settled for Binance for reasons I no longer remember. Binance is also releasing their debit card but i doubt I’ll go for it anytime soon. Really just trying to treat it as investing and keep my banking separate unless I find it to highly benefit my international life
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AMSOILGUY
02-08-2022, 03:46 AM
They’re some great offers indeed, I did open a crypto.com account when I began but ultimately settled for Binance for reasons I no longer remember. Binance is also releasing their debit card but i doubt I’ll go for it anytime soon. Really just trying to treat it as investing and keep my banking separate unless I find it to highly benefit my international life
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I haven't used Binance but if you bought their coin over a year ago you are doing great. Feb 7 2021 it was 70 dollars. May 3rd of 2021 was its ATH of 674 dollars. Thats over 400% in a few months.
AMSOILGUY
02-12-2022, 01:52 PM
I think we will see crypto in some adds during the game. I looking for Loaded Lion NFT.
AMSOILGUY
02-16-2022, 06:37 AM
Who watched the superbowl? I'm sure lot's. Did you find the QR code for the free NFT? It is at 9 seconds.
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