You may have seen a few advertisements for cryptocurrency exchanges now and then. Still, one website has decided to take it one step further and launched an all-out effort to make cryptocurrency to the forefront. Here are some important Facts About Crypto Superchargers!
From Google ads to buying the name rights for Los Angeles Laker’s basketball court, Crypto.Com seems to be setting the pace in exchanges.
This resulted in a rapid 20x increase in the native currency CRO, and with the right reason. While some Centralized Exchanges offer discounts on the cost of trading for holding their own token, Crypto.com has a whole array of rewards like its debit card which offers appealing benefits for users who aren’t quite at the level of.
Additionally, it’s also possible to earn rewards in addition to playing staking in the app -via the supercharger for CRO.
What is the Supercharger? Facts About Crypto Supercharger!
If you have tokens of $CRO that aren’t locked up yet, you can use Superchargers to gain cash with your $CRO. It is possible to do this via both Crypto.com App and Exchange and is a great alternative for people unfamiliar with staking.
The Supercharger’s rewards range from meme coins like $SHIB to blue chips like $ETH and $UNI, offering appealing APYs up to 34 percent.
Some reward tokens have grown significantly, like $NEAR and $SHIB, which have increased by 8x and 4x since their supercharger period.
Getting exposure to these assets without having to pay for them is more manageable to hold them through bear periods and is an excellent way to boost your portfolio overall!
Also, read Binance Coin Facts And Uses
What is the process behind how Crypto.com Supercharger functions?
If a Supercharger’s event falls within”Charging Period ” Charging Period” Users can take tokens and deposit them into the liquid pool at any time and frequently. A charging time is 30 to 45 days. There’s also a minimum deposit of 100 CRO that users can withdraw through your Crypto.com Exchange spot account.
The ” Reward” or ” Distribution Period” is set for the following 30 to 45 days. It begins following that Charging Period. Rewards for users depending on the amount of liquidity they earned throughout their Charging Period. The rewards are distributed equally every day in the period of the Rewards Period. They are pro-rated according to the user’s percentage of all liquidity pools. These tokens are then returned in you Crypto.com Exchange spot account.
All you have to do is deposit your tokens in the liquidity pool, and then charge for the entire charging period. After that, you will be rewarded with daily reward tokens during the rewards period.
The supercharger is among many ways you can make a profit on your cryptocurrency. To learn more about the options, we’ve compiled an outline of ways we can put our crypto to work in our article How I Make $15,000 Per Month in Passive Income Staking and lending.
Also, read Crypto USD Coin Facts
How do I start charging
To begin, log in to your CDC application and then click on the lion symbol at the lower right of your screen.
Go to the pop-up menu, select the finance tab , and select”Supercharger” to open the “Supercharger” selection.
If there’s an ongoing supercharger event then you should select”Charge Now” or click the “Charge now” button and agree to the conditions and terms for the event in question.
If you don’t, generally check on the same page if any events are coming up.
Next, determine the amount of money you want to stake for during the course of your event.
Make sure you have the minimum amount of $100 required to participate in any supercharger competition So make sure you’ve got enough before you begin to test the supercharger!
Note that once every event is over, you’ll be required to claim your rewards manually to be distributed in your account throughout the course of.
Although the CDC app reminds you to claim your rewards, it’s recommended to schedule the reminder as making claims late could result in lesser or no rewards in the end.
The $CRO can be staked or un staked at any point during the supercharger. The rewards are distributed proportionally so that it is both how much $CRO staked and the length of time it was staked is a factor when calculating the amount of the amount of rewards.
What is the maximum amount I can earn?
While APYs appear appealing, supercharger events are currently running at 10 days minimum and up to 45 days. This means that these APYs will not be able to be sustained in their payments.
In addition, the number of rewards is set at the beginning, and the rewards are determined by stake. In other words, if more people begin using the supercharger, the rewards are eventually dispersed and less lucrative.
But this does not mean that the Supercharger is bad . After all, there’s no transaction costs, lock-up periods, or any permanent risk of loss. It’s simply an opportunity to earn reward points as you HODL.
Where else can I earn a reward on the dollar amount of $CRO?
At present, there’s only one other option to stake $CRO in a single-sided way: to put it in”Earn” under the Crypto.Com “Earn” alternative.
You could earn as much as 6percent P.A for $CRO. You can also earn an impressive 12.2% on assets like $USDT and $MATIC.
However, this approach will require a minimum investment of 5000 dollars (other assets also have different minimums) and to achieve a satisfactory rate typically requires a lock-up time.
Another way to earn rewards from staking $CRO is the newly launched VVS (Very Simple) finance protocol part of the Cronos Network. It offers up to 317 percent APR on farms related to $CRO. But, it has all the typical risks of DeFI (Decentralized Finance) farms, like exposure to the price of the $VVS token’s fluctuations.
If you’re just beginning to learn about DeFi and are already holding extra money you can try the supercharger? You can earn good rewards with just a few clicks.
There’s nothing to gain!
Who Can Benefit from Crypto.com Supercharger?
Every Crypto.com app or Exchange user can utilize Supercharger. This is not the case for citizens and residents of Hong Hong Kong SAR, Mainland China, and the USA. If you don’t have a Crypto.com account, sign up below.
To start your first deposit, you’ll need to be verified up to the minimum level or higher. In addition, you’ll need have CRO in your bank account for transfer funds.
Supercharger Minimum Deposit
Crypto.com Supercharger has a minimum deposit of 100 CRO. Users can deposit multiple times without extra costs. There are also no upper limit on the amount of CRO you can put in.
Crypto.com Supercharger is a Crypto.com Supercharger platform comes with no charges. To participate, you’ll need CRO to make a deposit. In contrast to many platform for mining liquidity that are gas-based, there are no charges to pay, so there’s no additional cost that eat into your profits.