Hey, guys, this is my first post so bear with me:
Crypto.com in other posts has mentioned about the 10% Cashback in MCO currency for shopping at Woolworths and ALDI during the extended period. Some even mentioned that in itself is not worth it. However, on the other spectrum, there is the actual trading of cryptocurrencies and long term investments that have not yet been explored here and this post will explore the sales within the trading of Crypto.com. Please note that I am sharing what I have learn and by no mean responsible for any loss in following this post nor am I a financial adviser. How you invest is totally up to you. You will be responsible for how your own investment. :)
For those people who work 9-5 day jobs or not familiar with trading or not willing to trade due to the risk of volatility in the cryptocurrency, then they may look into crypto sales.
Almost every two weeks, Crypto.com announces a cryptocurrency where users can participate in the sale. This occurs on the exchange only > (https://crypto.com/exchange). Usually, the sale is 50% (subject to change), but for some of the past sales, it has been 50%. This event is known as "The Syndicate Event". Each event, Crypto.com allocate a certain budget, for the sale. For ALGO sale the budget is $500,000. Not all details have been released at this stage yet so keep eyes out on the syndicate page.
The way it works is
-Users must stake min 10,000 CRO for 180 days in order to participate in the sale. 10,000 CRO cost around $1825.41 AUD at the time of writing.
-On the day of the sale usually fall on Tuesday for Australia, users get to subscribe on an amount dictate by how much you have staked, the more you stake the more you can subscribe (please note this does not mean that you will get the amount you specify).
-After the sale is closed, it takes 24 hours for the crypto.com to calculate the allocation for each user which will take into account whether the sale is oversubscribed (oversold) or undescribed (undersold). For more information please see past sale events as detail calculations and example is shown.
-The following day, users will get an email to either accept or reject the allocation.
-If you accept you will get the currency at 50% which you can then either trade back for CRO or other currencies etc.
Staking 10,000 CRO does come with some benefits as long as the offer is not withdrawn by Crypto.com, and these are:
-20% return per year in CRO interest which is paid daily to the user's exchange account.
E.G 10,000 CRO stake gives 5.47945205 CRO at the time of writing, its roughly $0.98 AUD per day.
-rebates on trading fees
-Crypto.com pay benefit (10% cashback in CRO)
-2 times the rewards for buying Cole digital gift cards
So far I have made a return of at least double when CRO was $0.06551 USD per CRO to $0.1270 USD.
Please comments below on your thoughts and experiences.
Also would like to have a thread down below on discussing the rate people are getting when topping up their MCO card. E.g $20 SGD top-up costing $20.83 AUD on UP at 3JUL0517am.
If I have missed anything, feel free to comment below! :)
Thank you for reading. :)
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