Complete Guide to Crypto.com – Get Monaco
Use my referral code 11htropcos to receive $50.
Welcome to my Complete Guide to Crypto.com.
I have made this guide to avoid any confusion newcomers might have while diving into this revolutionary app. Below, I offer simple, step by step instructions on how to use the app, as well as the financial products included within it.
If this helped you out at all please consider using my referral link to sign up for the app.Use my referral code 11htropcos to receive $50.
To receive your $50 bonus you must download the Crypto.com app and stake a minimum of 50 MCO for a Premium MCO Visa Card. Upon completion of this task you will be paid out 50 USD.
Alternatively, I am accepting MCO and CRO donations at the address below: MCO/CRO: 0x6EFc59f358d903CD223346526747673b63eb7DB6
So without further adieu, read on and enjoy my guide. I hope I could provide you with some aid.
Crypto.com is the Future.
- Buying/Selling Cryptocurrency on the Crypto.com App
- Depositing/Withdrawing Cryptocurrency to/from the Crypto.com App
- Send Cryptocurrency to Friends
- Crypto.com MCO Visa Cards
- MCO Token Utility Overview
- CRO Token Utility Overview
- Crypto Wallet Overview
- How to Track Coins on the Crypto.com App
- How to use Crypto Invest
- How to use Crypto Earn
- How to use Crypto Credit
- Staking CRO for a Council Node
- Crypto.com Pay
- BG50 Referral Program
- A Thank You
Maybe you heard about Bitcoin in the news, maybe you heard of major brands such as Facebook starting to delve into the world of Cryptocurrency, or maybe you’re a tech junkie curious about the effects cryptocurrency and blockchain are going to have on the FinTech world. No matter what walk of life you are coming from, the first question many people have about crypto is — how do I buy it? What do I do with it once I have it?
In this first section I will be demonstrating how to buy and sell your favorite cryptocurrencies using the uber powerful Crypto.com App. Even if you’ve never purchased cryptocurrency, I’m going to lay this out so basic that your Mom, your Grandma, and even your Dog could follow it.
Note: Before Transacting Cryptocurrency, you must undergo Identification Verification or KYC (Know Your Customer)
- Open the Crypto.com App and Select “Buy”.
2. Select the Cryptocurrency You Would Like to Purchase.
3. Accept the 3.5% Purchase Fee.
4. Click “Add Credit or Debit Card”.
5. Fill Out Your Debit/Credit Card Information ($0.10 Will be Charged to Your Card to Authenticate the Transaction).
6. Select the Amount of Cryptocurrency You Would Like to Purchase and Click “Buy”.
7. Confirm the Transaction.
8. Congratulations! You’ve Purchased Cryptocurrency.
- Open the Crypto.com App and Select “Sell”.
2. Select the Cryptocurrency You Would Like to Sell.
3. Choose the Amount You Would Like to Sell, As Well as the Cryptocurrency You Would Like to Sell For.
4. Confirm the Transaction
5. Congratulations! You’ve Sold Cryptocurrency.
Note: Be extremely careful while depositing/withdrawing cryptocurrency. A simple mistake such as missing a letter or a number in your cryptocurrency address will result in an irrevocable loss of funds.
Cryptocurrency gives us the ability to send value across borders almost instantly. It removes the need for greedy intermediary services such as MoneyGram and Western Union who profit off of those who require access to quick and cheap value transfer the most.
In the cryptocurrency world, we transfer value by assigning our coins to a wallet address — a random string of letters and numbers that denotes ownership of a given cryptocurrency. These addresses are used to transfer cryptocurrency from exchanges, to wallets, to friends, to services ect.
Sound confusing? You’re in luck. The Crypto.com app makes depositing and withdrawing cryptocurrency easier than ever.
One of the most popular sites users transfer to and from is an exchange called Coinbase.
- Open Your Coinbase App and Select the “Accounts” Tab.
2. Select Which Cryptocurrency You Would Like To Deposit to the Crypto.com App.
3. Select the “QR Code” Button in the Top Right Corner.
4. Select “Copy Address” to Copy the Address to Your Clipboard.
5. Open up Your Crypto.com App and Select “Deposit”.
6. Click on “Withdraw”.
7. Click on the “+” Icon in the Corner to Begin Adding Your Address to the Whitelist.
8. Enter the Wallet Address and Give the Wallet a Name, Then Click Continue.
9. Navigate To The Crypto.com Email Confirmation.
10. Once You Receive the Email, Click the “Confirm Withdrawal address” Button.
11. Once You’ve Done This You Will be Able to Withdraw to the Address. From Here Hit the “Send (Crypto)” Button.
12. Select the Amount of Cryptocurrency You Would Like to Send.
13. Your Cryptocurrency has Been Withdrawn. Depending on the Type Of Crypto You Sent, You Will Receive the Funds in 10–60 Minutes.
- Navigate to Your Crypto Wallet and Select The Cryptocurrency You Would Like to Deposit.
2. Click on the “Deposit” Button.
3. Click on the Button Beside Your Wallet Address to Copy the Address to Your Clipboard.
4. Open the Coinbase App and Select “Accounts”.
5. Select the Cryptocurrency You Would Like to Send to the Crypto.com App.
6. Click on the “Paper Airplane” or “Send” Icon in the Top Right Corner.
7. Select the Amount of Cryptocurrency You Would Like to Send to Crypto.com and Select “Next”.
8. Paste Your Wallet Address in the “To” Section. Click Next in the Top Right Corner.
9. Confirm Your Transaction.
10. You’re All Done. Within 10–60 Minutes You Will Receive Confirmation That Your Cryptocurrency has Arrived in Your Wallet.
Note: To quickly send Cryptocurrency to a friend via the Crypto.com app you must import your phone contacts to the app. If you wish to send crypto to someone not in your contacts, you will have to “Withdraw” the given cryptocurrency to their wallet address.
In addition to deposits/withdrawals, Crypto.com also offers users the ability to transfer cryptocurrency to friends using its send function. This function allows you to transfer cryptocurrency to your contacts nearly instantly and with zero fees.
- Open the App and Select “Send”.
2. Select the Cryptocurrency You Would Like to Send
3. Choose How Much Crypto You Would Like to Send
4. Confirm the Transaction.
5. Just Like That You’ve Instantly Sent Cryptocurrency to Your Friend for no Fee.
Note: The benefits shown below are contingent on the user keeping a continuous stake of at least 50 MCO for a Ruby Steel Card.
If the Crypto.com app was a galaxy, the MCO Visa Card would be the sun. Though only available in Singapore and the United States at the moment, good progress is being made by the team to get “Cryptocurrency into every wallet.” Europe, Asia Pacific and Canada are the next countries on the roadmap to receive cards.
In order to receive one of the Premium Tiered Metal MCO Visa Cards on the Crypto.com app, one must lock up a predetermined number of of MCO Tokens corresponding to your card of choice (see above).
MCO Tokens that are used to reserve a card will be locked within the Crypto.com app for a duration of 6 months, after which you are free to do whatever you please with your denomination of MCO tokens.
When these MCO Tokens are staked, the circulating supply is essentially reduced. Basic supply and demand tells us that as long as the tokens can manage to draw demand, a smaller circulation ensures a rise in value — one that will only grow exponentially as cards are released.
MCO Visa Card Cashback
I have personally staked 500 MCO for a 3% Cashback Jade Green Card
Once you receive your MCO Visa Card, you will immediately be able to enjoy up to 5% cashback (Depending on your card tier), by making purchases online and globally anywhere Visa is accepted. That’s a lot of avenues to earn cashback.
Aside from providing one of the most generous Crypto card cashbacks ever seen in the industry, the cashback function also offers quite a bit of token utility.
When you make a purchase with your MCO Visa Card, the cashback you earn will always be allocated to you in the form of MCO Tokens. These tokens don’t just come out of thin air however. They are purchased off of several exchanges using Crypto.com’s slick trading algorithm, and are deposited into your MCO Wallet.
If you read above, I mentioned that as long as there is a demand for MCO Tokens, the locked up supply should be a major driver of value for the token. No longer is demand an issue when you have hundreds of thousands of people earning cashback on their cards, facilitating a huge amount of market buys.
It creates a constant demand for MCO Token. A demand in which, again — will only grow exponentially as more cards are released.
How to Reserve Your MCO Visa Card
Note: I have already reserved a card so the process will look slightly different if you have yet to reserve a card.
- Open the Crypto.com App and Select “Card”.
2. Navigate to the Card You Would Like to Reserve (Every Card Except Midnight Blue Requires You to Stake MCO Tokens for a 6 Month Term)
3. Purchase/Stake the Amount of MCO Tokens Proportional to the Card You Are Reserving.
4. Congratulations! You Have Reserved Your MCO Visa Card.
MCO token utility is rooted deep within the app
While analytical data such as: Market Cap, Total Supply, Circulating Supply, Exchange Volumes and Token Distribution can give you a vague sense of the future price outlook of a token, analyzing factors such as Token Utilitypromotes a broader understanding of why a token exists and what it’s function will be now and in the future.
To simplify even further, a Token’s Utility can be derived as the sum of these three questions:
- Does this token solve or improve on an existing problem?
- How is the token going to be generating value?
- Does the token need to exist for this concept to work?
Crypto.com’s MCO Token checks off all of these boxes and flexes it’s utility within the app in the following ways:
- You must lock MCO Tokens (50, 500, 5000 or 50,000) to reserve/upgrade your Premium MCO Visa Card
- Up to 5% Card Cashback is deposited to your Crypto Wallet in the form of MCO Tokens.
- Purchase rebates for Netflix, Spotify, Expedia and AirBnb are deposited to your Crypto Wallet in the form of MCO Tokens.
- Receive a 50% discount on Crypto Invest fees while staking a minimum of 50 MCO.
- Crypto Invest Portfolios may hold MCO Tokens.
- Lower your annual interest rate when using Crypto Credit while staking a minimum of 50 MCO.
- Receive up to 8% (up from 6%) annually in Crypto Earn while staking a minimum of 50 MCO Tokens.
Crypto.com Chain (CRO) is the token that will natively run Crypto.com Pay. A revolutionary new payment system that is simple, beginner friendly and gaining traction as a leader in the Crypto payments industry.
The product uses QR codes to send payments simply and effectively at no cost to customers or merchants, whilst offering up to a whopping 10% cashback when paying with CRO. Now that is an incentive to pay with crypto.
Crypto.com Chain will operate both online through the “Pay With Crypto.com Button” appearing at the checkout of partnered merchants, as well as offline as a simple line of code integrated into existing POS systems.
My own personal experience using Crypto.com Pay
- You must stake a minimum of 10,000 CRO in order to host a partial CRO Council Node.
- Earn 12% Annually on your CRO Council Node paid out in CRO Tokens to your Crypto Wallet.
- Earn up to a whopping 20% cashback paying for goods online at Crypto.com Pay approved merchants.
- Earn up to 10% Cashback on in app Gift Card purchases paid out in CRO Tokens to your Crypto Wallet.
Crypto Wallet homepage
Once you purchase cryptocurrency in the Crypto.com app you’ll find it in your Crypto Wallet. Your Crypto Wallet is essentially just like the wallet in your pocket. The only difference being that instead of being filled with hyper inflationary fiat currency, it’s filled with cryptocurrency.
The Crypto.com app offers support for several popular cryptocurrencies. These include:
Crypto.com (MCO), Crypto.com Chain (CRO), Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), USDM (USDM), VeChain (VET), Binance Coin (BNB), Litecoin (LTC), Bitcoin Cash (BCH), EOS (EOS), Stellar (XLM), Cardano (ADA), Dash (DASH), NEO (NEO), ChainLink (LINK), Cosmos (ATOM), Ethereum Classic (ETC), Ontology (ONT), USD Coin (USDC), Basic Attention Token (BAT), Qtum (QTUM), OmiseGO (OMG), TrueUSD (TUSD), Ravencoin (RVN), Holochain (HOT), Paxos Standard (PAX), Icon (ICX, Waves (WAVES), 0x (ZRX), Komodo (KMD), Waltonchain (WTC), Enjin Coin (ENJ), Ark (ARK), Celer Network (CELR), Harmony (ONE), Kyber Network (KNC), Algorand (ALGO), Matic (MATIC) Mana (MANA), Ardor (ARDR) and Fetch.AI (FET), Elrond (ERD), Zilliqa (ZIL), Tezos (XTZ), and DAI (DAI).
Example of transaction history
On the bottom section of your Crypto Wallet you will find your transaction history. This will show everything from Referral Rewards allocations to Card Cashback.
Think of this section like a bank statement. Every time crypto goes in or out of the wallet it is recorded here in a simple, easy to understand format.
If you’re anything like me, you may have a slight addiction to checking the prices of your favorite cryptocurrencies.
When I was just beginning my crypto journey it wasn’t uncommon for me to check it 50+ times a day. I would wake up in the dead of the night and the first thing I would do was take a look at my Crypto.com app to see, not only how my own portfolio was doing, but how other coins I was interested in purchasing were doing as well.
The tracking function can also sort by many different options such as by, Large Cap, Small Cap, Top Performers, Worst Performers, High Exchange Volume and Low Exchange Volume.
Luckily for me, I have since calmed down a little bit in my pursuit of price. I do still check my app twice a day to see how the coins I’m tracking are performing, once in the morning and once at night.
Follow the steps below to build your own portfolio of coins to track. You’d be surprised the opportunities that arise when you pay close attention to the market.
- Open up Your App and Select “Track” on the Bottom Menu Bar.
2. Use the Search Bar to Find the Cryptocurrency You Would Like to Track.
3. Select the Cryptocurrency You are Interested in Tracking. Tap The Star in the Corner of the Window to Begin Tracking.
4. Your “Starred” Coins Will Now Appear at the Top of the Tracking Section, Allowing Easy Access to Prices and Analytics at Your Fingertips.
Note: I already have a Crypto Invest Portfolio registered to my account. Because of this I won’t be including a screenshot of the screen where you choose your portfolio type (High Risk, Medium Risk, Low Risk). Once you choose your portfolio type, you are unable to change it inside the app, however if you’d like to change it, in-app support can assist you in making the switch.
82.83% Gains in SmithHappens’s Invest Portfolio
So you’ve downloaded the Crypto.com app. You’ve purchased a few coins and have officially caught the crypto bug. But you’re still very new to the space and don’t want to subject your hard earned capital to uninformed financial decisions. You’ve got capital to invest, but you’re not sure just where to invest it. This is where Crypto Invest comes in.
Crypto Invest is the first of a few in-app financial products I will be covering in this guide.
Invest uses a one of a kind trading algorithm developed by Crypto.com to effectively invest your capital for you. The algorithm will use allocated funds to buy and sell cryptocurrency in an automated fashion, whilst still taking into account of the current market conditions.
What is the best part of Crypto Invest? Crypto.com only makes money when you do. This is an incredibly attractive system to new crypto investors because it mitigates risk in this hyper volatile new industry. On top of the product’s design being low risk, you may also withdraw your funds at any time.
Crypto Invest charges a modest 9% on your gains while you stake at least 50 MCO for the Ruby Steel MCO Visa Card. If you don’t have a current MCO stake the charge will be 18% on your gains.
For instructions on how to use Crypto Invest yourself, take a look below:
- Open Your App and Select “Crypto Invest” From the Main Menu.
2. Click on the “+” Button on the Corner of the Page.
3. Select How Much BTC You Would Like to Deposit (The Amount Must Be at Least $20 USD)
4. Just Like That, You’ve Started Earning Using Crypto Invest.
5. Shortly After You Deposit, You Will be Able to See How Crypto.com’s Algorithm is Allocating Your Funds. This is Found at the Bottom of the Crypto Invest Page.
6. At the Top of Your Crypto Invest Page You’ll Find a Helpful Graph to See How Your Portfolio is Doing.
- To Begin the Withdrawal Process Click the “-” Icon in the Top Lefthand Corner of the App.
2. Select the Percentage of Your Portfolio You Would Like to Withdraw.
3. As Simple as That, Your Withdrawal Has Been Submitted. You Can Expect Your BTC to Arrive in Your Crypto Wallet Within 24 Hours.
How much interest do you receive from your current savings account? 0.5%? 1%? 2%? If you’re incredibly lucky.
Today’s banks have a funny habit of taking advantage of their customers. After all, before 2008 there was no way that we could possibly challenge them. They had a complete monopoly on finance. Thanks to the invention of Bitcoin and the Blockchain, we can finally take finance back into our own hands.
This is the exact philosophy Crypto.com had when they created Crypto Earn.
Crypto Earn is sort of like your savings account, stake your crypto and earn interest. Unlike your savings account, Crypto Earn earns you a fair interest rate (up to 8%). Crypto Earn also allows you flexibility in the way you would like to save. There are 3 different staking durations to choose from.
Earnings With an MCO Stake
When you stake 50 or more MCO you will earn 4% yearly interest from the Flexible Term, 6 % for the 1 Month Term and 8% for the 3 Month Term.
Without an MCO stake your yearly interest is reduced. This encourages tokens to stay on the platform. You will earn 2% yearly interest during the Flexible Term, 4% from the 1 Month Term and 6% from the 3 Month Term.
Thanks to Crypto.com’s Flexible Term option you can earn up to 4% interest and have constant access to your crypto. Request a withdrawal at any point during your stake and instantly receive your crypto, as well as the interest you’ve earned.
The number of coins in Crypto Earn is always growing, but currently the following coins are supported:
Crypto.com (MCO), Bitcoin (BTC), Ethereum (Eth), Litecoin (LTC), Ripple (XRP), Binance Coin (BNB), Basic Attention Token (BAT), Chainlink (LINK), True USD (TUSD), Paxos Standard (PAX), and USD Coin (USDC).
As a final note, If you have one of the two highest tier cards (5000 or 50,000 MCO Stake). Your MCO stake will automatically be inserted into Crypto Earn.
- Open Your App and Navigate to the “Crypto Earn” Section.
2. Click on the “+” Icon in the Top Corner.
3. Select the Length of Term You Would Like to Select.
4. Agree to the Crypto Earn Terms.
5. Select the Cryptocurrency and Amount You Would Like to Stake.
6. You’ve Successfully Deposited Crypto Into Crypto Invest. You Will Begin Earning Interest Immediately.
7. In The Crypto Earn Menu You Will Now Find Details on Your Current Term.
Crypto Credit is the final Crypto.com financial product I will highlight in this guide. Crypto Credit is a fantastic alternative to a Line of Credit. One much safer and easier to obtain.
Crypto Credit allows you to take out a loan paid out in TUSD or PAX, by using each of these cryptocurrencies as collateral. The loan is then immediately available in your Crypto.com Wallet. The loan can then be repaid using the same stable coin in which the deposit was made.
This unique Credit product allows you to pay back your loan on your own terms. There is no deadline for payment allowing you complete flexibility in the way you would like to repay.
Collateral Health indicates whether your collateral is at risk of being liquidated, based on your current Loan-to-Value (LTV) ratio.
If your Collateral Health reaches the Poor/Critical threshold, a Margin Call will be triggered to notify you to rebalance your loan by depositing additional collateral or make a repayment.
When the LTV goes beyond the 80% threshold, 100% of your collateral will be liquidated.
Crypto Credit incurs 8% APR with an MCO stake of at least 50 MCO and 12% APR without an MCO Stake.
- Open Your App and Select “Crypto Credit”.
2. View the Detailed Information and Select “Deposit Now”
3. Select the Cryptocurrency You Would Like to Hold as Collateral (Only BTC is available at the moment. MCO Collateral is coming soon).
4. Select the type (TUSD or PAX) and Amount of Cryptocurrency Your Would Like to Use as Collateral. You Will Then See the Amount You Will Receive in Credit.
5. Agree to the Terms and Conditions.
6. Confirm the Transaction.
7. You’ve Deposited Your Crypto and Will Instantly Receive Your Credit.
- From the Crypto Credit Homepage, Select “Pay Balance”.
2. Select How Much You Would Like to Pay Back, or Select Pay Full Amount.
3. Confirm Your Payment.
4. The Amount You’ve Selected has Been Repaid.
Crypto.com App approved users except citizens and residents of Hong Kong SAR, Singapore, Switzerland, Malta, or the United States of America are able to use Crypto Credit. Efforts are underway to make these products available to these jurisdictions.
Note: The minimum Council Node stake is 10,000 CRO.
If you’re a fan of Crypto.com and would like to support the CRO ecosystem, you can do your part by staking for a partial or full CRO Council Node.
The premise behind Council Node Staking is simple. Users are able to stake CRO tokens within the Crypto.com app in order to buy a full or partial CRO Council Node. Thanks to a new partnership with AllNodes you can buy a node outright, or pool your CRO with others to co-own a node. Council nodes are used to validate transactions on the Crypto.com Chain.
Your reward for doing so is not only the satisfaction of helping the budding Crypto.com ecosystem, but you will also receive 12% p.a. credited to your account in CRO, deposited in convenient daily allocations. Not only does this help the growth of Crypto.com, but also the passive growth of your cryptocurrency holdings.
Decide you no longer want to stake for a node? No problem! Withdraw your funds at any point without any fee or penalty.
- Select Crypto.com Chain (CRO) From Your Crypto Wallet.
2. Scroll Down and Select “Stake CRO”.
3. Select “Stake 10,000 CRO Now” (You can change the amount later).
4. Accept the Terms and Conditions.
5. Select the Amount of CRO You Would Like to Stake (10,000 CRO Minimum).
6. You’ve Officially Staked for a CRO Council Node and Will Now Receive 12% Yearly Interest Paid Out Daily.
Crypto.com Pay is a revolutionary new payment platform that uses CRO as it’s native on-chain asset. Crypto.com Pay allows users to pay Online using the “Pay With Crypto.com” button, as well as allowing Physical Merchants to accept cryptocurrency payments using a simple QR code based payment system that can be implemented onto 99% of payment systems by simply inserting a line of code.
Above you can see a video of me using “Pay With Crypto.com” button on the official Crypto.com store.
May 3, 2019 brought us a first look at how Crypto.com Pay is going to operate for physical merchants. The first of which you will realize is none other than Starbucks.
As you can see in the above video, the process is just as simple, if not even simpler than it’s online counterpart. This is of paramount importance. For adoption to be pushed in today’s world, payments will need to be easy, secure and provide significant incentive to parties on both sides of the transaction (No fees and cashback).
You will also notice that 2 other major retailers were visible during the transaction — Target and AMC Theatres. Hopefully this is a sign of other big brands to come.
On June 27, 2019, Crypto.com increased CRO’s token utility by allowing users to purchase gift cards using CRO and Crypto.com Pay. This can be accessed by clicking Crypto.com Pay and selecting Gift Cards.
It’s simple really. Purchase gift cards using CRO and earn up to 5% cash back in CRO Token. The deal is sweetened if you stake for a CRO Council Node. If you stake for a node you will earn up to 10%.
For instance, in the above video I earn 5% CRO Cashback for purchasing a Tim Horton Gift Card.
Crypto.com offers one of the most beneficial and powerful referral programs you’ve ever seen.
Crypto.com’s BG50 program allows users to gift referees $50 USD as well and receiving $50 USD for their efforts.
To receive your $50 bonus, your referee must download the Crypto.com app and stake a minimum of 50 MCO for a Premium MCO Visa Card. Upon completion of this task you will receive the above notification and you will both be paid out 50 USD.
I had a fantastic time writing this complete guide on Crypto.com.
It is not just an investment to me, it is a company that I am incredibly passionate about and plan to watch every step of the process as they fully transition the world to Cryptocurrency.
Between the MCO Visa Cards, Crypto.com Pay and the other financial products they offer, Crypto.com is going to be an app that will change the world of finance and allow millions to take back their finances from giant banks that have been abusing personal finance for eons.
In using this app you are contributing to an ecosystem that is going to change the way everyday people see finance globally.
It will allow millions of people to have the “Aha” moment we all had and enjoyed when we finally realized the profound earth-shattering implications of cryptocurrency and blockchain.
I want to give a warm thank you to the entire Crypto.com Team for their amazing efforts in the past few years, despite scrutiny from our extremely “overactive” community, and another warm thanks to the hundreds of community members that make it possible for me to do this and have helped me along the way.
As always I want to finish up by saying something short and sweet. Something I like to say at the end of my articles. Something I believe with every fibre of my being.
Crypto.com is the future. It’s as simple as that.