Crypto.com is one of the dark horses among cryptocurrency projects, assets, and services. I originally downloaded the Crypto.com app on a whim, to test it, use it, and then deleting it. I was very dismissive of the app because it appeared to me, at the time, to be just another crypto app among the thousands of crypto apps. It is now my go-to crypto app, where I do a great majority of my buying and selling. But the Crypto.com app is most definitely more than just a place to buy and sell. It has perks.

MCO and CRO

This may sound confusing, but Crypto.com has two tokens: MCO and CRO. Without getting into too much detail, MCO is the app utility token, and CRO (Crypto.com Chain) is their transactional/native settlement chain token. CRO will become more critical when Crypto.com’s exchange is launched (the closed beta begins on November 18^th, 2019.

Crypto.com VISA

MCO offers a series of different cards that have various benefits depending on how much MCO you lock up (stake). All of the cards have a cashback feature that is returned as MCO – with the percentage return increasing depending on the size of your stake. Crypto.com offers five cards requiring zero to 50,000 MCO as a take to be eligible for. The highest tiered MCO card 50,000 would cost you, today (November 14^th, 2019) over $212,000. The benefits of this highest tiered card are 5% cashback, 100% refund on Spotify and Netflix, and 10% discounts to Expedia and Airbnb. I do not consider that worth it. For a 50 MCO ($212) stake, you can get the red card with a 2% cashback and 100% refund on Spotify. For a stake of 500 MCO ($2130), you get 3% cashback and 100% refund both Spotify and Netflix. The Crypto.com blue card is free and gives 1% back. You will want to see the fine print regarding limits.

Passive Income

I am a dividend fanatic. I love passive income. I also actively manage my dividend portfolio. The Crypto.com app has an ‘Earn’ Feature. With the Crypto Earn feature, you can place qualified cryptocurrencies into your Earn account and earn weekly, passive interest on those coins/tokens. The return varies depending on how much MCO you have staked and how long you choose to place your crypto in the Earn account. You have the option to deposit for 3-months, 1-month or with the ‘flexible’ option. Flexible allows you to withdraw your cryptocurrency from the Earn account whenever you want. See the Crypto.com site for more information.

The most significant percentage increase you can earn is from placing CRO into the Earn account. Without any MCO staked and just sitting there in the flexible account, my CRO earns +12% p.a. (per annum). Every week my CRO makes 0.2355%, which is an insanely crazy and massive return. If you staked MCO and put your CRO in for a 3-month hold, you get a whopping +18% return on your CRO. That’s getting to borderline questionable on the sustainability. I am a massive fan of this app as a trader and investor and extremely excited about its future.

Customer Service

I wanted to write a quick note about their customer service. I had an issue when using my Crypto.com card where I was expecting a refund from a vendor and it was taking a while to be returned. Crypto.com’s app has phone and live chat support – and they are excellent. Honestly, I was surprised at how quickly they responded to me and how professional and driven towards customer service they were.

I am long MCO and CRO. I was not paid or asked to review this cryptocurrency, nor am I receiving any kickback or benefit from Crypto.com. My opinions are my own.