What is your opinion on Crypto.com's Earn and Binance's Savings? - page 2.

ReiMomo

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Crypto.com is not popular here, just keep using Binance because they are the most trader's choice here in the community.

Quote from: 3227jw on July 21, 2020, 03:15:22 AM

Is there anyone that uses Crypto.com who can confirm that it is indeed as safe as Binance?

If you compare these two exchange, I will prefer to use Binance.

Quote

What do you think of these two options for making extra profit?

Not convincing on Crypto.com, earning profit is also matters in your skills and knowledge on trading.

Quote

Do you think they are worthwhile?
And do you know any other safe options I can try out?

Worth it if you will use Binance, beside, doing your own research is good to manage your own risk.

Mahanton

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Quote from: The Sceptical Chymist on July 21, 2020, 01:55:34 PM

Quote from: crwth on July 21, 2020, 04:01:52 AM

I don't have any experience with binance savings but knowing the exchange reputation, it's definitely going to be safe to HODL your investments there.

I'd say Binance is about as safe an exchange as you're going to find, but I still wouldn't trust them (or any crypto exchange) completely, and that's just based on the history of hacks and various other disasters that have befallen exchanges. If you're going to try to earn some passive income with them, I would probably only risk a relatively small amount.

I've never even heard of crypto.com, but my high level of ignorance is due to the fact that I don't do a lot of trading.

OP, I understand your desire to put your crypto to work earning income, but I just think it's a bit too risky to do it through an exchange. You might be better off just holding onto what you've got and hope for some nice capital gains down the road.

Much preferable rather than risking your stash with just having to had that minimal profit on a specific period of time and as other said it isnt really worth for the risk and the time spent.
You can just simply held it off into your wallet and let it grow without sweating or minding the risk of hack or scams.Its not really a valid option for me since i can do trade up on my own
and i would prefer on having a long term hold position than on giving out my funds for that matter.

I havent heard of about Crypto.com but someone mentioned that this one is another name which do correlate to a project/site that had past scam issues?

sheenshane

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Quote from: crwth on July 21, 2020, 05:48:51 AM

Quote from: 3227jw on July 21, 2020, 04:20:34 AM

Do you personally have experience using Gunbot?

I do and I continuously use it in Binance futures. If you are interested I could help you with setting it up and support. Let me know.

I can vouch for this user, reputable and long time Gunbot seller. You can approach this user anytime at your convenient time.

Back to your topic.
You had been answered your question, you said that Binance is reputable and safe to keep your fund and they had user's insurance asset or known as "SAFU". I never heard this Crypto.com, but I had a short research someone says they are good than other exchange and the rating is 90%.

But there's a scam accusation against them two months ago on Reddit post about Crypto.com giveaways. If you have already account on Binance, just continue using it than choosing Crypto.com. Just do your due diligence.

DarkDays

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I personally use Binance's savings products but have read about Crypto.com and other similar platforms.

Personally, I'd stick with whichever one has the most skin in the game, e.g. the one that stands to lose the most if it were to run off with user funds. For me, that's Binance.

We all know that binance absolutely rakes in the money through trading fees, so there's no wonder how they're able to pay 3-10% APR for its crypto savings plans.

Crypto.com, however, I've got no idea how they are able to sustain their rates, and they're not particularly transparent about it either.

crwth

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Quote from: The Sceptical Chymist on July 21, 2020, 01:55:34 PM

I'd say Binance is about as safe an exchange as you're going to find, but I still wouldn't trust them (or any crypto exchange) completely, and that's just based on the history of hacks and various other disasters that have befallen exchanges. If you're going to try to earn some passive income with them, I would probably only risk a relatively small amount.

They are probably more prone to hacking since they are on the top of the exchanges and currently having more power towards the crypto space. It’s going to be hard to profit continuously if you only have a relatively small amount of capital in the exchange, it's going to be a risk.

Quote from: The Sceptical Chymist on July 21, 2020, 01:55:34 PM

I've never even heard of crypto.com, but my high level of ignorance is due to the fact that I don't do a lot of trading.

It's okay, I'm pretty recent in learning about it too, and the group that I discovered it on is not a trading group. Someone just asked about how they can use crypto for online transactions, and one member suggested it. There's a referral fee too.

nelson4lov

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Quote from: Bitum on July 21, 2020, 03:09:08 PM

Crypto.com is the former Monacocoin, isn't it? I am surprised that they are still on the market. I can well remember your ICO, where it promised debitcard, but nothing came of it, then they are called scam, and yet they stayed on the market

Yes, Crypto.com was previously known as Monaco coin. Although they were called a scam several times, the company still prevailed. Currently, Its one of the biggest project that allows individuals, retail and institutional users to buy crypto (hence the name – crypto.com ). Also, They did delivered the crypto cards which was promised during their ICO in 2017.

Quote from: 3227jw on July 21, 2020, 03:15:22 AM

What do you think of these two options for making extra profit?
Do you think they are worthwhile?
And do you know any other safe options I can try out?

Both Binance savings and Crypto.com earn are promising programs. I have only tried out Binance savings. It was for a short term period but I was satisfied with the rewards. It was better than leaving my assets idle. From what I know, Crypto.com programs is good too. You should give it a try. If you're still unsure, test the waters with a small amount and see how it goes.

LbtalkL

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Quote from: 3227jw on July 21, 2020, 03:15:22 AM

I trust crypto.com but I trust binance more, I have an account there but I am only staking few MCO, This platform is rising from nowhere they are popular with their debit visa cards which gives cashbacks. Now this platform has no history of hacks but I am not sure if they can reimburse any stolen amount if a hack will happen. Binance has issurance I heard they have been hacked about 7000 BTC before which they reimbursed already and give us assurance to the safety of our assets.

Bitum

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Crypto.com is the former Monacocoin, isn't it? I am surprised that they are still on the market. I can well remember your ICO, where it promised debitcard, but nothing came of it, then they are called scam, and yet they stayed on the market

electronicash

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binance is an exchange still. your tokens are with them and not in your possession anymore. if its just a small amount that you think you will be fine if its gone for good, its fine.
i have no experience with crypto.com but its like staking for a time period. why not do it to a non custodial like defi platforms. its safer because the tokens, though locked up, its still in your wallet and still earning too.

harizen

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Quote from: 3227jw on July 21, 2020, 03:15:22 AM

What do you think of these two options for making extra profit?
Do you think they are worthwhile?

No one knows if it will yield you a good return in the long-run.

While considering putting money at these investments, there will be really a time that you need to test the waters by yourself in order to know the result. Yes, harming some of your funds from your precious wallet.

I never tried both but let's say I will put my place to your situation, I will consider risking my funds to see if it will be worth it, of course as long as the site is reputable and does have good reviews to minimize the risks of being sh*t.

The Sceptical Chymist

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Quote from: crwth on July 21, 2020, 04:01:52 AM

I don't have any experience with binance savings but knowing the exchange reputation, it's definitely going to be safe to HODL your investments there.

I'd say Binance is about as safe an exchange as you're going to find, but I still wouldn't trust them (or any crypto exchange) completely, and that's just based on the history of hacks and various other disasters that have befallen exchanges. If you're going to try to earn some passive income with them, I would probably only risk a relatively small amount.

I've never even heard of crypto.com, but my high level of ignorance is due to the fact that I don't do a lot of trading.

OP, I understand your desire to put your crypto to work earning income, but I just think it's a bit too risky to do it through an exchange. You might be better off just holding onto what you've got and hope for some nice capital gains down the road.

sana54210

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That is just something both amazing but also quite scary as well. I love binance having all sorts of passive income stuff, I could pick flexible savings, I could pick locked savings, I could even do staking with if I want to and that is amazing. However one thing for sure is the fact that I would prefer binance over everything else. Now why do people not go at it right away? It shows good interest rates and that means a good passive income right? Well the main reason is, what if the coin goes down?

Even USDT is scary because it is just a company and companies have owners and owners are human who have a chance to just take it all and leave so why trust them for so long. This is why when there is an easy way to make a passive income some people are not sure about if they want to go for it or not.

abel1337

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Quote from: TGD on July 21, 2020, 07:04:14 AM

Crypto.com team was very during there early stage after ICO. But they already proved they worth now by finishing what they started. They are successful on issuing a functional crypto visa card and they have trading volume on most of exchange. There staking plan is impressive too because they offer some freebies while your token was stake.

I'm a holder of there card and I have MCO token staked and I'm currently enjoying premium Netflix and Spotify. I don't want to imposed that staking there was safe. All I want to say was is taking MCO has a lot of benefits compared to other token.

It's somehow reasonable that Crypto.com offers "Free" Netflix and Spotify to their token holders but it's true that we can't be sure if it is safe at all. But the chance that they would run away with your money is a bit low I think Since they work so hard to be in that state.

I never tried binance savings but their platform is surely trusted by many people and don't hesitate to put their money on it so it seems to be fine.

Just remember if you plan to keep your assets into these both platforms always remember that you should be ready in the worst-case scenario. There's always a risk.

ashmodeus

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well, about a few weeks ago, i just got voucher from binance , trial voucher worth 10000 USDT,and that voucher must be used on binance savings,and expired for 7 days. so far i just received 0.37USDT/day from that savings.i cant say that secure since i just got free money for savings features,but i never heard a complain about savings features,so let say its quite safe. Btw is that right for you? i mean,for me its a double risk .
u put your money there to gain a few percent for some period,and with crypto have a high fluctuaction, i am not sure if u will get any profit from savings,based on fiat convertion at the end of period(of course this cases will happen if u choose a wrong coin). so good luck for your savings.

TGD

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Crypto.com team was very during there early stage after ICO. But they already proved they worth now by finishing what they started. They are successful on issuing a functional crypto visa card and they have trading volume on most of exchange. There staking plan is impressive too because they offer some freebies while your token was stake.

I'm a holder of there card and I have MCO token staked and I'm currently enjoying premium Netflix and Spotify. I don't want to imposed that staking there was safe. All I want to say was is taking MCO has a lot of benefits compared to other token.

Quidat

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Quote from: mk4 on July 21, 2020, 05:04:08 AM

I honestly don't recommend leaving funds on these platforms. Though those platforms seem secure, we all know exchanges get hacked all the time[1]. 4-8% interest in exchange for the security risks is simply not worth it in my opinion. I'd rather wait til my coins increase in value in the long-term.

[1] https://cryptosec.info/exchange-hacks

Indeed! Im aware with that Binance savings but i dont really have that kind of confidence to leave out my funds over there even on how much credible they are and you are just risking your coins for the sake of very minimal increase on annual basis.Some advises about bot trading which is also a considerable stuff but asking out on much safer way or less risk then theres no such thing exist.
If decisions arent still that sure then it would be better if you do just hold up your coins in your wallet and let the market volatility would do its job. Cheesy

crwth

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Quote from: 3227jw on July 21, 2020, 04:20:34 AM

Do you personally have experience using Gunbot?

I do and I continuously use it in Binance futures. If you are interested I could help you with setting it up and support. Let me know.

Quote from: 3227jw on July 21, 2020, 04:20:34 AM

I have been thinking about using a trading bot for awhile now, but never really got myself interested enough to find the right one for me.

This is a great opportunity for you since the community is helpful and open to new ideas with helping each other with different configurations etc.

mk4

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I honestly don't recommend leaving funds on these platforms. Though those platforms seem secure, we all know exchanges get hacked all the time[1]. 4-8% interest in exchange for the security risks is simply not worth it in my opinion. I'd rather wait til my coins increase in value in the long-term.

[1] https://cryptosec.info/exchange-hacks

3227jw

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Quote from: crwth on July 21, 2020, 04:01:52 AM

Quote from: 3227jw on July 21, 2020, 03:15:22 AM

Although I am not a terrible day-trader, I am pretty much occupied with work, family and friends, and other hobbies, stock trading, etc.
So I tend not to do too much day trading.

You could pretty much utilize the investments that you have in crypto trading with a crypto trading bot like Gunbot

Hey crwth, thank you for your opinion.
Do you personally have experience using Gunbot?
I just checked it out, and it looks legit.
I have been thinking about using a trading bot for awhile now, but never really got myself interested enough to find the right one for me.

crwth

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Quote from: 3227jw on July 21, 2020, 03:15:22 AM

Although I am not a terrible day-trader, I am pretty much occupied with work, family and friends, and other hobbies, stock trading, etc.
So I tend not to do too much day trading.

You could pretty much utilize the investments that you have in crypto trading with a crypto trading bot like Gunbot

Quote from: 3227jw on July 21, 2020, 03:15:22 AM

Is there anyone that uses Crypto.com who can confirm that it is indeed as safe as Binance?

I just recently discovered Crypto.com and their different staking offers with MCO. I don't have any experience with binance savings but knowing the exchange reputation, it's definitely going to be safe to HODL your investments there. In terms of Crypto.com, I think it's reputable as well but not as much compared to Binance (Just like I mention too, I recently just discovered it). They have different tiers on how much you are going to invest in Crypto.com and have different benefits. Like the Debit Card that you can avail in exchange for the staking of their token. There's KYC in Crypto.com and you would receive the debit card with your address verification as well. In terms of using the card, it's quite useful and it works. You will get rebates as well.

Safe options are quite unreliable if you want to profit since risking, in a smart way, would be better. I think trading is still one of the best and safe options if you are smart about it. That's just my opinion.

Topic: What is your opinion on Crypto.com's Earn and Binance's Savings? - page 2. (Read 434 times)