Crypto.com Earn and Cash Back options for passive income

by squidkai1. Posted on Sep 16, 2020    0    5


I haven't seen this posted and wanted to share. I have been using crypto.com for both the earn and their card that includes cash back for somewhat passive income.

Crypto Earn - Let's you stake crypto and receive up to 18% P.A. if staked over 3 months. They also have a flexible option in case you don't want to stake that long at a reduced interest rate. I have been using this for about 6 months now and the payouts are received weekly.

Crypto Cards - They also have cards that you can sign up for with different tier and rewards. This is great for purchases as you can top up your crypto which gets converted to fiat and then use the card anywhere that Visa is accepted and received up to 5% cash back depending on the card you sign up for.

Disclaimer - Use my referral link https://crypto.com/app/593fo7bx2l to sign up for Crypto.com and we both get $50 USD


Comments

ozzizzmo 2

18% over 3 months?? Sounds too good to be true

  squidkai1 1

The up to 18% is per annum. You have to stake for 3 months meaning you can’t withdrawal until that period is over and continue staking to receive that percentage. Sorry for the confusion.

bigez_09 2

can you assure me that the whole thing isn't predicated on leverage and perhaps some element of a ponzi scheme?

  squidkai1 1

To my knowledge they act like any regular bank does in that when you deposit money (in this case staking) the bank would give you an IOU and then use your money to invest or trade in markets such as forex. Think savings accounts and how you earn interest there.

bigez_09 1

yeah but with a bank they are regulated and have deposit insurance

we learned lessons in 1929 we are probably forgetting in the early stages of defi, so much of what I see is leveraging up ETH by getting stablecoin loans