Crypto.com is a global cryptocurrency exchange that was established in 2016. It is one of the most well-known cryptocurrency exchanges, with over 50 million members spread over 90 countries. It has also developed its own blockchain, Cronos.
The platform offers a trading platform for over 250 cryptocurrencies. Visa card services are also available on Crypto.com. The card allows users to spend their cryptocurrency and receive rewards.
Crypto.com has various products. One among them is Cronos (CRO). It is the native token of the Cronos chain. Here is how you can stake CRO on Crypto.com.
How to Stake CRO on the Crypto.com app?
Staking CRO on Crypto.com provides users with several benefits. With CRO staking, users can reserve one of its premium metal Visa cards. Users can also earn crypto wallet benefits and enjoy better APR.
For Jade Green or Royal Indigo, 4% p.a is the staking reward. For Frosted Rose Gold, Icy White, and Obsidian tier, 8% p.a is the staking reward. Users will also receive the staking rewards every week.
The earlier staking reward rate was 10% and 12%, which has dropped to 4% and 8% for the users as of June 1, 2022.
The staking rewards are on the basis of the tier of Visa card that users choose. After ensuring that you have the required number of CRO tokens for your selected Crypto.com card, follow the steps:
- Click on the “Card page” from the app.
- Choose the type of Visa card.
- Click on “Stake CRO” and follow the steps mentioned on the screen.
Users can also add the CRO amount during the initial 180-day staking period. Users can do this by selecting the “Upgrade” button in their CRO wallet section. They can also unlock their staked tokens after 180 days. This can be done by choosing the “Unstake” button.
If you wish to restake your CRO post the 180-day staking period, you can restake it easily. All you have to do is click on the “Stake” button in your CRO wallet and follow the steps.