Cryptocom Enters Esports With Us$15m Fnatic Sponsorship
Cryptocurrency platform pens five-year deal with UK-based competitive gaming organisation.
- Team jersey branding, fan rewards and in-game exposure all covered in contract
- Fnatic NFTs to launch in the near future
Esports organisation Fnatic has agreed a five-year partnership with cryptocurrency platform Crypto.com worth US$15 million.
The agreement, which designates Crypto.com as London-headquartered Fnatics inaugural global;cryptocurrency partner, signals the companys first partnership in competitive gaming.
The tie-up will see Crypto.coms logo featured on the collarbone of Fnatic team jerseys. Fnatic will also offer fans various rewards and money-cant-buy experiences for Crypto.com users purchasing its goods. New digital products, such as exclusive Fnatic non-fungible tokens , will also be launched in the near future.
In addition, Crypto.com, which claims to have 10 million customers worldwide, will work on a variety of activations with Fnatics esports teams, players and creators. These will include collaborative storytelling with existing Crypto.com partners, gaming content, branded in-game experiences and physical events.
To help fans further understand cryptocurrency and future-proof their decisions, Fnatic will also offer financial literacy and crypto education opportunities for those that are new to cryptocurrencies and NFTs.
Trading Crypto Via The App
Buying crypto is just as easy as depositing money on your account. Click the Buy button to start. You will get three options to buy crypto in the app. You can use the amount that is available in your crypto wallet, you can complete the payment with a credit card or bank account or use the amount that is available in your fiat wallet.
The use of your credit card has a 3.5% handling fee per purchase. These fees are for the card issuer and not for Crypto.com. A traditional bank transfer is free, this is only not ideal if you want to buy crypto in the heat of the moment.
Finally, it is important to choose the desired method and select the desired cryptocurrency. Press the button to buy and you are done. Selling cryptocurrency can be done by simply clicking the Sell button.
How Safe Are Cryptocurrencies
Cryptocurrency prices can rise or plunge in mere minutes, causing both novice and veteran investors to experience a roller coaster of emotions. Since the cryptocurrency market can be a volatile place, experts recommend you learn these five rules of the trade: Never invest more than you can afford to lose. Diversify into other asset classes. Stay away from anything that seems too good to be true. Private keys are king. Do your own research.
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Is Your Cryptocurrency Safe With Cryptocom
Users have all the security features you’d expect, such as multi-factor authentication and anti-phishing measures. User security also includes password, biometric, email, phone, and authenticator verification.
Crypto.com says security is built into every aspect of its business, and systems are stress tested by leading security firms. It also uses Hacker One, a bug bounty program, to identify weaknesses.
In addition to being insured for $360 million against damage or theft, Crypto.com partners with Ledger to store user cryptocurrencies in cold storage. And on the topic of insurance, if you keep a balance in U.S. dollars, that money is FDIC insured as it would be with a regular bank.
So far, its efforts have paid off. According to cryptonews.com, Crypto.com is one of the few platforms that haven’t been hacked.
An Introduction To Coinbase
Coinbase is a secure platform;where you can buy, sell, transfer, and store digital currency. The site;remains committed to providing an open financial system worldwide.
Today, Coinbase represents a leading global brand that helps;people convert digital currency into and out of their local fiat currency.;Features worth noting when it comes to Coinbase include:
A focus on making buying and selling cryptocurrency a cinch
The ability to send or receive digital currency between friends, merchants, or online wallets
Handling worry-free backups and security
Coinbase remains a one-stop shop offering a wallet, merchant tools, and an exchange with one streamlined interface. What’s more, the company continues to push the envelope when it comes to offering;convenient applications built using its;API.;
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Staking Coins To Earn Interest
Staking means that you lock your coins up for a period of time and, in exchange, earn interest on them. The rates that youll earn varies with the length of time your coins are staked. Interest is paid in the coin that you stake rather than in USD or other fiat money. The app feature that allows you to earn interest is called Crypto Earn. Note that Earn is not available to Hong Kong SAR, Switzerland, or Malta residents.Youll receive a weekly payout on your simple interest earnings. The app will show how much your staked coin was worth at the time of payout.Because your staked coin is locked up based on the term youve selected, it doesnt really matter what the coins price does because you cant sell it. This can be good and bad. But it does help you avoid panic-selling at the bottom.Terms are one and three months. There is also a flexible term option. Longer terms pay more and the flexible option pays the least. Youll get higher rates if you stake 50,000 or more CRO. Staking 500,000 or more CRO will earn an additional 2%.
Cryptocom Is Right For You If:
- You want a low-fee cryptocurrency exchange and want to move fiat currency into crypto easily.
- You are a relatively experienced crypto investor and don’t need a lot of crypto education.
- You want to do more of your banking — saving, spending, and investing — on a crypto platform.
- You are willing and able to deposit large amounts in CRO.
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Concluding The Cryptocom App Tutorial
While theres more to the Crypto app, thats everything you need to know to get around and set yourself up for success. As previously stated in this Crypto.com review, itll take a few days for you to get approved before youll have access to the app.;
When you are finally approved , dont be afraid to experiment with buying and selling small amounts of crypto and poke around with the various features to see what the app has to offer.
What Is Cryptocom Cro Visa Card
Before, the VISA card was based on another native token, MCO, but from now and on the VISA card will be based and staked by the CRO token.
Anyone in the USA , the EU, or Singapore can use the CRO Visa card to spend cryptos at millions of locations globally.
When you make a purchase with your CRO Visa Card, the cashback you earn will always be allocated to you in the form of CRO Tokens. These tokens dont just come out of thin air however. They are purchased off of several exchanges using Crypto.coms slick trading algorithm, and deposited into your CRO Wallet.
- How to get $50 FREE?
- 1. Click on our referral link
- 2. Complete signup and pass KYC
- 3. Buy at least 1000 CRO and stake for the VISA card
- 4. Referral code: mcmk7qgbhh
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The Midnight Blue Mco Visa Card
There’s even a Midnight Blue variant of the card that gives you 1% cashback on everything you buy. You don’t have to bet anything to benefit from this relatively good payback rate.
Furthermore, Crypto.com allows consumers to withdraw their CRO invested after six months. However, you should be aware that if you stop staking, your cashback rate will drop. At your first staking level, you’ll also lose access to some of the card’s features.
Cryptocom Vs Coinbase: Currencies
Crypto.com supports 91 cryptocurrencies, whereas Coinbase works with 66. Both support popular fiat currencies, including USD, EUR, and GBP, as well as coin fractions. However, Coinbase covers over 20 fiat currencies, while Crypto.com supports more than 60. However, New York users are barred from buying 12 currencies on the Coinbase platform, whereas Crypto.com investors in Connecticut and Texas cant buy DAI or PAX Gold . Plus, residents of 11 states cant purchase Binance Coin .;
Both platforms support Dogecoin , along with other favorite altcoins. Coinbase offers 10 currencies not found on Crypto.com, while Crypto.com provides over 70 coins not supported by Coinbase.;
The lists below highlight currencies one platform offers but the other doesnt.
Currencies unique to Crypto.com:
AR, ARDR, ARK, AUDIO, AVAX, AXS, BAKE, BLZ, BNB, BUSD, CAKE, CELR, CHR, CHZ, CKB, COS, CRO, CSPR, DGB, DOT, eGLD, ELF, EPS, FET, FLOW, FTM, GAS, GHST, GLM, GUSD, HNT, HOT, HUSD, ICX, INJ, IOST, IQ, IRIS, KAVA, KMD, KSM, LSK, LUNA, NANO, NEAR, NEO, OCEAN, ONE, ONG, ONT, PAX, PAXG, POLS, QTUM, RARI, RDN, RSR, RUNE, RVN, SAND, SC, SHIB, STRAX, STX, TAUD, TCAD, TFUEL, TGBP, THETA, TOMO, TUSD, VET, VTHO, WAVES, WTC, XCH, XSGD, XVS, ZIL
Currencies unique to Coinbase:;
BSV, CGLD, CVC, DNT, GNT, LOOM, NU, OXT, REP, ZEC
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How Do You Create An Cryptocom Account
Crypto.com has a web-based exchange and an app, these two platforms seem to be separate in terms of registration procedures. Once you have registered with both platforms, you can link them together.
You can easily create an account via the app. Fill in your data and you will get a request to verify your identity . The process includes giving your full legal name, ID and to verify the ID a selfie:
The verification process on itself is very simple, but make sure that you send a clear picture with a correct lighting. After this you usually have to wait for some hours, up to a day, before the process is completed. When the process is done, you will receive a confirmation email that you are accepted. From then on you will have access to the app.
What Are The Different Types Of Crypto
Different types of crypto generally fall into one of two categories:
;;Coins, which can include Bitcoin and altcoins
;;Tokens, which are programmable assets that live within the blockchain of a given platform.
Though many people use the words crypto, coins, and tokens interchangeably, its important to understand how they differ from one another.
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Understanding Cryptocurrency: Dawn Of A New Economy
Mostly due to its revolutionary properties cryptocurrencies have become a success their inventor, Satoshi Nakamoto, didnt dare to dream of;it. While every other attempt to create a digital cash system didnt attract a critical mass of users, Bitcoin had something that provoked enthusiasm and fascination. Sometimes it feels more like religion than technology.
Cryptocurrencies are digital gold. Sound money that is secure from political influence. Money promises to preserve and increase its value over time. Cryptocurrencies are also a fast and comfortable means of payment with a worldwide scope, and they are private and anonymous enough to serve as a means of payment for black markets and any other outlawed economic activity.
But while cryptocurrencies are more used for payment, its use as a means of speculation and a store of value dwarfs the payment aspects. Cryptocurrencies gave birth to an incredibly dynamic, fast-growing market for investors and speculators. Exchanges like Okcoin, Poloniex or shapeshift enable the trade of hundreds of cryptocurrencies. Their daily trade volume exceeds that of major European stock exchanges.
At the same time, the praxis of Initial Coin Distribution , mostly facilitated by Ethereums smart contracts, gave life to incredibly successful crowdfunding projects, in which often an idea is enough to collect millions of dollars. In the case of The DAO, it has been more than 150 million dollars.
What Is A Micro Wallet
A micro wallet is a holding space for your cryptocurrency. In my article on FaucetHub, I described it as a draft email. A micro wallet collects all of the drips from the faucet. All of those small satoshi transactions accumulate until you have enough to withdraw your coins to your own wallet.
Imagine a friend owed you $10. If they offered to pay you $0.01 every day until the debt was paid off, you would think that was ridiculous. Youd end up with a pocket full of near useless pennies. Even worse, you might become that old lady at the grocery store counting out change for half an hour. No one wants that.
A better idea would be for your friend to put a penny each day into a jar on top of their dresser. When $10 was reach, they could take the pennies to the bank, and get a crisp new $10 bill for you.
A micro wallet is like that jar. A micro wallet collects small transactions and then sends a payment to your own wallet once your withdrawal minimum has been met. That way you get one normal transaction, instead of hundreds of tiny ones.
Below I discuss two of the most popular micro wallets. Each of them has a set of faucets that it supports. Its important to link the right micro wallet with the right faucet. If you dont, then your faucet earnings will never find you.
Trading With Cryptocom Exchange
The available orders to enter a trade are limit and market orders only. Compared to advanced crypto trading platforms such as Binance, Coinbase Pro, Kraken and KuCoin, the available orders is limited and should be expanded to include stop-limit and OCO orders.
The order amount percentages makes it easy and quick to enter in order. By clicking on these buttons, it will determine the amount based on your current account balance for the particular cryptocurrency. This has become the standard for digital exchanges in recent years.
Cryptocom Pros And Cons
Crypto.com offers a complete package of interconnected tools, products, and services.
- The ecosystem consists of two native tokens, the MCO and CRO, a feature-rich mobile app supporting 55 cryptocurrencies, MCO Visa cards, and a trading platform with 51 tradable currency pairs.
- Depending on the amount of staked MCO with the platform, everyday investors can enjoy between 1 5% cashback on spending with the Visa card paid in MCO, free access to airport lounges worldwide, and 100% reimbursement in MCO on Spotify and Netflix subscriptions.
- Last but not least, investors can earn interest on cryptocurrencies, ranging up to 12% for stablecoins and up to around 6% for Bitcoin, Ethereum, and Paxos Gold.
On the negative side, the company is not regulated by any financial authority, making it a high-risk venue for investors.
Moreover, the company performed a highly controversial token swap in August 2020 with no prior announcement. The original ICO-token MCO was retired, and users were forced to swap their MCO tokens for CRO at a rate determined by the company. Looking backwards, the move was not unexpected, and many believe it helped simplify the ecosystem. To soften the blow, users who performed the swap before September 2020 were also given an Early Swap bonus equivalent to 20% of the amount swapped.
- Not licensed by a financial authority
- Core team led now-closed Ensogo
- Exchange lacks pairs and order types
- Lack of transparency on some fronts
- Very slow customer support
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Are Cryptocom And Coinbase Safe
Yes, Crypto.com and Coinbase are safe and use security measures that are industry-standard or above for U.S.-based residents. Although Crypto.com is based in Hong Kong, where some rules may be different, it prioritizes security equally to Coinbase. Both exchanges are well known in the space and employ bug bounty hunters to root out potential security issues.
Who Should Choose Cryptocom
With its numerous perks and features, Crypto.com could be a particularly strong option for those willing to go all in on the platform. Large holdings of CRO, Crypto.coms own cryptocurrency, for instance, mean lower trading fees and more rewards on the Crypto.com Visa card.
If youre new to cryptocurrency, you may be overwhelmed by Crypto.coms trading interface. You might seek out a more beginner-friendlyalbeit much pricierplatform like Coinbase, our top pick for beginners, or Gemini. Both Coinbase Pro and Gemini Active Trader do offer lower trading fees for those willing to brave those platforms own more complex interfaces.
Regardless of which exchange you pick, remember that cryptocurrency is a highly volatile asset and that you may lose significant amounts of your investment, particularly in the short term. Make sure you dont put more into Crypto.com than you can afford to lose.
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Is Cryptocom Trustworthy
Personal Finance Insider assesses company trustworthiness by reviewing each investment platform’s Better Business Bureau rating. However, Crypto.com doesn’t have a BBB profile.
But even if the exchange had a profile, it’s still important to do your own due diligence when considering investing apps. The bureau’s ratings don’t guarantee a company’s reliability or performance, so you’ll want to make sure you’ve done your own research before setting up an account.
Gas And Smart Contracts
ConsenSys defines gas as a metering unit for use of the World Computer, but it boils down to an even simpler explanationthe fee for using this world computer.
That said, its worth noting a few significant differences. Gas represents much more than just the cost of processing transactions on the Ethereum network. Ethereum is capable of running all sorts of apps, allowing it to form the basis of the decentralized web. As such, while gas could technically be described as transaction fees, it should be used with caution.
The Ethereum Yellow Paper, written by one of the networks creators, Gavin Wood, lists precisely how much a specific instruction on the network costs in gas:
Every type of instruction performed on the network has its own fixed price. To figure out the cost of a transaction or smart contract, simply add up the value of every instruction it performs.
The problems, however, arise when the gas fee actually has to get paid.;;
The term that best describes gas is fuel for the Ethereum network. But fuel isnt a currency on its own, it needs to be bought and denominated in dollars or euros.
The same goes for gas. For it to be paid, it needs to have its value expressed in Ether, the underlying cryptocurrency of the Ethereum network. Like oil, there is no fixed price to convert gas to Ether. Its left to buyers and sellers to come up with a price suitable to both sides. This pricing is achieved through a virtual auction.
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