Topic: Is crypto.com investment legit and safe? (Read 1172 times)

Here's my take, as a customer of Crypto.com, and one of their early ICO investors over three years ago when they came out with their first MCO token.

• They are as "legit" as you can get in cryptocurrency companies. But remember, even "legit" companies with good intentions sometimes fail. In other words, as far as I can see right now, I have no reason to believe they are scamming us. I have put a bit of my bitcoin in, and use their VISA card, and it is very nice, with good rewards.
• But remember, people thought Bernie Madoff was "legit" until he "made off" with their money. It was all a pyramid scheme.
• It is easy to let greed fool us. Have some healthy skepticism.
• If you feel comfortable investing in, or using, any cryptocurrency company or exchange, you should feel comfortable using crypto.com.
• But don't throw your life savings into it.

A bit of history, as I know it from being a small-time investor in their ICO.

• They came out with their big plan and launch in 2017, and you could invest in their MCO token, to get a place in line to get their VISA card. That was the biggest draw for me. I think their original plans changed several times to meet market needs and regulatory restrictions.
• You could "stake" different levels of MCO to get different benefits. Staking means you commit or lock them for 6 months.
• Sometime in 2018, I believe, they acquired the crypto.com domain and rebranded themselves for higher visibility.
• In 2019, I think, they finally started shipping cards. I received mine sometime after that.
• They also had launched CRO, which is its own chain (not an Ethereum-based token). It became linked tightly to their crypto exchange.
• Currently, they are trying to retire the MCO token and shift everyone over to CRO. It's actually a better deal, as the staking levels at current prices are lower in $ terms, more within reach. CRO also pays higher interest rates.

I also wondered how they can keep paying such high rates for their own CRO currency (up to 18%). I haven't found a clear answer. Their white papers describe the allocations of the tokens, and there are a bunch reserved for initial launch and promotion of the project, so I imagine that is where most of this interest payment is coming from. Another hunch I have is that when you "stake" the currency, they actually turn around and "stake" it in the CRO blockchain (in the "proof-of-stake" sense). Stakers are rewarded in coins for validating transactions, so that may also be part of the 18% that they are returning.

However, here are my big misgivings. Though the price of CRO has risen steadily, that is in large part due to growing demand for it in the market. The demand seems to be growing faster than they are paying out in interest. That's because they keep signing up customers. All's well that ends well, right? Well, two things concern me. If the customer growth slows, the price of CRO can start to decline; that can trigger a massive selloff, crashing the price. Crypto.com has little control over this! Second, and this is probably the more hopeful end scenario: as their customer growth slows, they intelligently start reducing the interest payments so that the number of coins doesn't flood the market and tank the price. However, it's quite probable they won't be able to stay ahead of that game. After all, the high interest is one of the reasons the customers continue to flood in; as the interest rates lower, the customer growth will slow even more. That's why this has at least some risk of ending up badly.

Again: I use the service and really like it, and like the high interest rates and the high rebates especially. But I haven't put my life savings into it! HODL the majority of your coins yourself. Always.

Ive been doing some background checks into kris marszalek, its not good.

I made the mistake of taking Denomes positive review of CDC to make up my mind when buying CRO. (i know always DYOR)
If i had read the following, i would not of invested.


Google Search:

kris marszalek  Ensogo 4 likely reasons why Ensogo collapsed

kris marszalek  CEO unperturbed by iBuy share price fall 

kris marszalek   Anger as BeeCrazy buzzes off The sudden closure of an international online shopping platform

Lastly...  i found this interview very "Telling"   

https://www.digfingroup.com/crypto-currency/

So far i have "good" experience with what CDC offers.  But ive been in Crypto since 2013 and i have to say, when i see price crash like CRO has been crashing and the price not even reacting to good news, like the latest news about Australia. It had been looking into things further.

"Crypto.com completed the acquisition of The Card Group Pty Ltd, securing an Australian Financial Service License"

But yet market is saying something else.

Could be a case of Kris being "Unlucky" in previous business ventures and this time hes "got it right".

I will let you, the reader decide.

Well, hard to say, what is happening behind the team´s behavior. They try to hype CRO token with never-ending syndicate offers, but the question is who would sponsor these events and why? For me, it is a very fishy activity on how to make coin valuable.

They have came up with an offer of zero fees for certain time frame. As I remember, just like NEXO and Celcisus, they have third party custodian insurance of upto $360M which they claims to be largest among crypto business. $100M of which from hardware wallet Ledger's company. They used to be an investment platform but with so much liquidity, they have now ventured into exchange business as well.

Crypto.com coin has a steady growth. I made some good profit here. It's worth staking this coin but I would expect it to drop once the first investors are done stacking for 6 months or may it will still go up after their fork.

At least they definitely want to bypass the Binance, they constantly come up with something for their token, always some events on the exchange.

Crypto.com is very aggressive with its marketing, they constantly pumping millions of dollars to marketing with their syndicate program, but I am afraid that one day this promotion will be stopped and investors will realize the true value of CRO tokens.  The market capitalization is close to Binance coin, that is absolutely nonsense.

YOu may wrong about this dude, this was discussing about the reputation of the crypto.com and you can try to verify it on CMC whether it's a legit coin or not. I could say that this is a legit coin that can be bought by anyone. This coin has already entered into top coins in CMC too.

I think the place for cryptocurrency investments right now is that they cannot profit anymore, even today many are scams and you should be careful because what you invest is very valuable money when conditions like this are difficult to get more money.

It's not only the project was really active in the development progress but as you can see that the community is also very active to give support and this company is always creating a very interesting event like sell bitcoin with a huge discount.

Crypto.com is a major coin right now and I hope that largo coin will be following the progress that has already made by crypto.com.

Any investment website which promises% profit based on your deposit of course that is ponzi website. No website with ponzi system will survive. So stay away from any website like that. The best and safe way to invest in crypto is hold it in wallet which we keep the private key. And remember crypto not make you quickly rich, so any website offers something like that is a scam

I believe crypto.com is a good project, they really take care of the project well. This project also often creates events with large prizes, they also give a large discount on their new features.

I don't know what kind of platform crypto.com is, but it kinda does sound a bit unsafe. I have never heard of it. If they are saying they invest your investment on mining, then please stay away from them. Get to know what they do with your money and how are they going to give you back your money with your profit. What are the guarantee that they will be able to give your profit every month? and will they be distributing the profit every year? Though every month 8% profit sounds too good to be true and I wouldn't be anywhere near them with  my money. Wouldn't be surprised if it is a ponzie scheme or anything like that.

The amount is bit higher even if it is rewarded for per year basis but this is not how we can make money with cryptos.Its just a way of multiplying them if you have some excess cryptos sleeping in your wallet for years.But if you wants to multiply your small capital into big one then you should go with trading which is most effective in short term.

Investment in crypto is indeed very promising. But it must also be remembered that investing in crypto has a great risk. If you don't want to lose money in crypto investment. Then don't dare to do it. The most important thing is to really choose a good project to invest in crypto. So that's why using investment in crypto on potential projects is a good thing.

Indeed better be safe still with your funds and never stored huge amount in a exchange like this. Though crypto.com attracts users since they have also giveaways on their social media page. Remember when you invest or give trust to a certain exchange there is a huge risk of your money. Also do not rely on others it is best to do on our own ways to research.

Just visit CMC and that's more than enough to see the reputation of this project, it looks like you didn't know about this project. This is a legit project that has already entered into the top CMC.
It has proven how good the reputation of crypto.com

market cap always have nothing to do with whether a project is safe or not, even market cap doesnt really represent the money circulating its just simple math total circulating coin times the price. I think too that it's better to check them out directly instead of thinking too deep about something that have no certainty.

If the website is from a long time and is still in business then google it and search for review and investors views you will get you to answer as if they have scammed someone surely you will get its arguments and if it is legit you will also get the positive comments from the investors.

cannot be ascertained whether it is good or not, because the marketcap does not guarantee that a project will last for a long time.
for now it might look good but have to do some research to invest long term.