/biz/ - Business & Finance

>>16925003
Yes.
What term do you have? Are you also staking MCO For more gains?

>>16925043
I am gonna try and add 50 MCO at least a month to it to stake and buikd. My way up to the 500 MCO card, myself. MCO is blowing up, so I feel pretty comfortable with it.

>>16925043
Will get some when I get paid.

What do you mean by term? I got no MCO but I can not afford 500 atm anyway.

>>16925003
don't wanna put your hopes down anon, but MCO had its run in 2017 during the visa hype doing a 23x. Go with matic or bsv for the next moon shot.

>>16925138
Disgusting curry nigger.

>>16925138
I dont particulqry care about MCO, even though I think it will go up.

Monaco delivers very solid products consistently. Its card is the best, interest rates are the best on the market, they even own fucking coinmarketcap.

I am not interested in short term trading anyway, I mainly invest in stocks longterm and have had great returns so far. Just dipping my toes in crypto, cause I legitimately believe in blockchain.

People on this board don't seem to like it but Graham type investing is my cup of tea.

>>16925138
do I have to care about the token if I just want interest on my crypto and dai?

>>16925168
they dont own cmk,I was had the wrong impression, excuse me.

>>16925171
No, but staking 500 MCO gets you more interest. I personally believe though that this is a token worth holding though. This isn't a moonshot token, it is a straight utility token with a fixed supply. So, if you believe the platform will grow, then the token will have to continue to increase in price.

>>16925206
I like projects like this but paying interest on crypto itself seems crazy. How do they recoup those 6%. I could understand with stablecoins but how do they profit from your coins?

>>16925206
and thanks for reply

>>16925225
They lend it, on a higher rate.
Way banks do it.

>>16925225
Loans, exchange fees, credit fees, etc. It isn't impossible to think about in my opinion. They have enough revenue streams. That being said, these are all high for now to attract people to the platform. As it grows, the benefits will be cut.

>>16925003
When crypto.com update their T&Cs to explicitly say any crypto I hold with them in their earn program is insured then I will put crypto with them. Until then no way.

>>16925236
but who the fuck wants to borrow lol
lending rates on exchanges for shorting are way cheaper

>>16925253
Well yes, but if you lose that "loan" then they sell your collateral and that's that. With a crypto loan, you don't immediately lose your crypto position.

It's also a way to get a cash equivalent to your holdings if you need it in a pinch, vs taking out a pay day loan or a much higher interest rate.

>>16925276
those users would give crypto and tae stablecoins though. They wouldn't come to crypto and say I wanna borrow 10000 xrp please.
Thats why its weird they pay interest on cryptos and not just stablecoins

>>16925300
That's fair enough, but I imagine they are converting those holdings to stablecoins and then loaning them out. It is why stable assets are high, while more volatile assets are low

>>16925082
There's different staking terms you can use. For example a 3 month term with a fixed rate of a %. For example I have BAT staked for 3 months. They also have flexible terms and what not. I'm a long term HODL type so I'm oy using 3 month plans for BAT, LINK, and BitCoin.
>got no MCO but I can not afford 500 atm anyway.
I feel you. I would suggest at least getting 50 MCO to get a better staking return. You can stake without it but you're collecting like a 1% return when you could have either 4-6%. I was gonna buy a hundred more MCO when the price was in the 3 dollar range a few weeks ago but missed out. Eventually I'll get to 500.

>>16925483
I don't believe you get a better return with 50,only 500. I'm just gonna use mine for the Spotify benefit though

>>16925483
I think it makes no difference >500MCO

I stake LINK and BAT at 6%pa

>>16925003
I hope so, just locked 33% of my crypto for 3 months as a test run. No mco staked. I did my research between mco and celcius and I feel more comfortable with mco because they supposedly use amazon cloud service for their security. Considering the us pentagon is using that also, I am happy.

>>16925242
Same here, once there are new regs in place and everything is insured by them, I’ll dump 100% into a lock up.

>>16925503
I agree, I think they say 50 or less which means you could have 0 mco and get a decent rate for 3 months.

>>16926345
Yeah, it's still a good deal I think. But I think the MCO token has a lot of value for now unless they fuck everyone over by allowing staking of CRO for benefits, since they can mint more of those more easily

>>16926484
Ya, I’m hoping that they just keep it as MCO. Trouble is trying to get $2500 for 500 MCO though.

>>16926497
Shoulda bought at 4 dollars (^:

>>16926519
I was still in the mindset of, this is crypto, wtf do I need this kyc shit?

>>16926634
Iktf. I thought it was a scam, but the more I read into it, more bullish i became. Dropped down to 2.50 as well. Oh well

>>16925003
I love the service. my only gripe is that the app is sluggish and slow. I hope they have plans on update the infrastructure.

>>16926663
Yeah app is pretty clunky. I also wasn't able to buy crypto with the card through their service. Not sure if i just did it incorrectly, or if there is a way to do it from the app, but I think service to service withdrawls are clunky

>>16926663
I’ve noticed the past week it has slowed significantly. Had a small panic when nothing showed up in the wallet.

>>16926848
No problems with mine. Pls no exit scamerini

Also back to five dollars today, we did it reddit

What is the interest rate if you have 51 MCO?

>>16927663
Depends on lock up term and token. Right now stable coins are the higher
Interests earners, not counting cro right now. I feel like chainlink will be in more demand once staking happens, I could see people borrowing more to make bigger staking pools.

>>16926663
>>16926683
>>16926848

Kris said in an AMA they are going to refresh the app with performance and simplicity in mind.

>>16927905
Based. We are all gonna make it

>>16927905
Nice. I hope many companies to a simplicity overhaul. Many new people will need the “iPhone” experience to find the crypto game fun.

>>16928098
true and I'd guess it was 5-10 years away with astounding societal implications as well, we also need digital identity laws

>>16927904
Interesting. I want to do this, but first I need to figure out how risky it is.

>>16928371
A little portion of income won't hurt. Fiat is at least insured.

>>16927905
link to the ama

>>16928485
They post them on their blog. It was towards the end of last year

>>16925003
i love crypto.com but ive only got around $40k in USD value on the app, around 30k in earn program right now. im hesitant to put more on there bc of its centralization but i havent had any issues with the service so far.

>>16925525
it does make a difference, you have to have the minimum 500 MCO stake in order to get the full highest interest rates thru the earn program. i know this to be a fact bc i was initially a 50 MCO stake and several months ago they upped the requirement to access the higher rates to 500MCO so i upgraded the stake and got a new card. you get .5 MCO every 7 days when you stake the 500MCO tho, and its spendable but i dont see a huge reason to hold more than that bc u get all the benefits of the service that u rly need with the 500 stake.

i never see anyone ever actually post their crypto.com earn app screenshots but ive been using it for over a year and this is where i'm at with it.

>>16925003
it smells of ponzi scheme to me. There's no mechanism to reliably get 6% on crypto.

>>16925003
>Is it gonna be safe, /biz/?
Obviously not lol. You might not lose it all but it's definitely not safe.

>>16929570
Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance.

>>16929703
nice buzzwords that have nothing to with how they are getting that 6% on crypto.
I can believe 6% on stablecoins if they are lending dollars that on exchanges, which they certainly do, but interest rates for crypto are way lower.

The service has been pretty good so far. Might throw another $5k worth of BAT in and maybe $750 worth of BAT per month. Dont want to put my entire 400k BAT stack on there. The 8% is nice though. For every $10 I get about $.82 back extra at the end of the year.

You all have so much more than i do. Fuck, i wish i was rich

>>16930065
i could have over 200k LINK right now if i would have sold my initial LINK position during the 2017 bullrun. we all have to learn some time tho the most important thing to remember is to sell off into stables when we hit that new ath. we all lose out on our first crypto rodeos (mostly) and we could all have more money if we were just older and wiser and lived thru more bull cycles in markets.

>>16930717
>Selling Link
Never

>>16925242
>>16926330
oh shut the fuck up retards. You sound like the morons in 2016 with your concerns about bitcoin. Pull your head out of your ass

>>16925242
>>16926330
Except it is insured. Crypto.com has a 100 million USD insurance policy on their service. Which is enough to cover all of the users of the platform at its current userbase level. When there is more than 100MM in USD value of crypto by users of the service, the CEO has already stated he will get a higher insurance policy to cover it. dyor tho I didnt come here to spoonfeed newfags who cant into dyor.

>>16929346
Too poor and tired of being bullied i guess but that's me at least

You will all get JUSTed so hard. This is exactly how bitconnect started. Granted, MCO was very sketchy in the beginning but it pulled a 25x early on. You can't keep getting that retarded interest unless you structure a ponzi.

>>16925072
Nigga that's $250 a month. I swear the amount of turks on this board is unreal.

>>16931088
Bitconnect was offering 40% interest per month and the revenue was supposed to come from who knows where. Crypto.com is offering 6% per year max unless you stake $2,500 then its 8%

Crypto.com at least has a lot more going for it like an exchange, card, etc. Pretty sure these are just promotional rates as well. They will probably drop them once they get more users.

>>16925003
is it worth making a crypto.com account and start buying/staking coins on it?

>>16931166
>Crypto.com is offering 6% per year max
CRO has like 16% interest

>>16931191
Yes

>>16931215
okay i'll do that, just looked into it, and i can only afford to buy like 25 MCO a month, feelsbadman

>>16931205
I think they use CRO like a binance coin type token. 16% is high but most people are probably just earning interest on their other assets. Im getting 8% per year on BAT

>>16930886
Then how come when you lock up you need to check the box that says you understand these aren’t fdic insured and what not?

>>16930886
>Except it is insured
>Crypto.com has also secured cumulative cold storage insurance coverage up to US $250 million to safeguard against theft or direct loss with a market leader in institutional-grade cryptocurrency custody services.
they're only insured against theft, not default. "Direct loss". Direct like someone stealing crypto, not like their suspicious borrowing scheme collapsing.

>>16925003

If you haven't sign up for the app or card yet, feel free to use my ref code 1iimdblihm and we will each get $50usd when you start staking!

>>16931337
FDIC insurance is different from a private policy

>>16925003
you pay for safe storage, they pay with interest for unsafe storage

>>16925003
I dunno but I took that gamble too. getting 6% interest on my LINK since I'm just holding it anyways.

If any of you want to hook a nigger up, we both get $50 if you use my referral code and stake 50 MCO:

platinum.
crypto.
com/
r/
nj2eued2k4

>>16929722
that's 6% p.a., per annum. simple interest paid weekly. that's if your coins are "locked up" for 3 months

>>16932430
Hey anon crypto.com newfag here, is it correct that the withdraw is min. $500? Or is it the deposit too

>>16925003
You can do the same thing on binance, Leaving crypto on a website is risky business. You have to ask yourself whether the 7% gains that get you a couple thousand dollars a year in interest is worth risking your entire stack.

>>16931088
I'm not willing to put too much into it right now when i can buy other coins

If you want to make a bit of extra money when staking 50 MCO for a card, it’s highly advised you use a referral link because both people get $50 for it. I stupidly didn’t use a link so now I’ve only got a few referrees from family and friends who wanted the card. Here’s my link, but I know others have posted too.

https://platinum..
crypto.
com/r/
w88ksqjsu6

>>16930886
Except it's not insured. Log in to their app. Click on the crypto earn T&Cs. It explicitly says that the crypto you hold with them in that program is not insured. Read it.

>>16931988
Read the crypto earn T&Cs yourself. It explicitly says it's not insured.

euro cards coming soon. Verifications open

>>16933351
Did mine while wageslaving this morning, but I need to wait until I get home to submit the proof of residency.

It looks like you have to have the app and a card to do all of this. Is it only available in USA?

>>16930886

lol this over-confident cumbrain doesn't know the different between insurance on defaults vs insurance on storage.

You are sub-human.

>>16933855
Based.

But mco

>>16930886
>I didnt come here to spoonfeed newfags who cant into dyor.
Holy Chris, project much?

>>16930886
Crypto holdings aren't backed by the bank, FYI.