Source : cryptodaily.io
Crypto.com Supercharger Review
- It is flexible
- It is safe to use
- Supports multiple cryptocurrencies
- Players can deposit and withdraw CRO with no extra fees
- Sometimes clients receive smaller allotments for the tokens
- CRO price plummets and could cause you to lose your portfolio
Crypto.com is a well-known cryptocurrency exchange that offers a variety of services and products. One of them is the Crypto.com supercharger, which allows users to earn crypto.
What is Crypto.com’s Supercharger?
The Supercharger is a mining platform that was created by Crypto.com. Even though the platform was launched in 2020, it has gained popularity in the world of cryptocurrency, and thousands of people flock to the Crypto.com Exchange and App daily. The platform allows you to stake tokens in exchange for the cryptocurrency of your choice.
Traders can also withdraw the tokens staked at any point. Essentially, the platform is like farming, at least in the traditional sense. The site is pretty straightforward, so even beginners can easily navigate it. Users can stake CRO tokens and exchange them for different types of crypto, including Bitcoin, SHIB, DOGE, EFI, ZIL, and many more.
Any unlocked tokens can be used to gain daily rewards, which is a flexible way to introduce people to the world of crypto.
The site has annual percentage yields (APYs) that go up to 34%, but they might range depending on the coins. Some of the coins, like SHIB, have grown by 8x, increasing their reward tokens.
The platform is open to everyone in the world except Hong Kong SAR, Mainland China, and parts of the USA.
How Does Crypto.com’s Supercharger Work?
During a “charging period” in the Supercharger event, users can make deposits and withdrawals from the liquidity pools. The charging period ranges from 30-45 days, and with a minimum deposit of 100 CRO, users can freely make exchanges.
After the charging period, then comes the ‘Reward/Distribution Period,’ which also ranges from 30-45 days. Users can get rewards depending on their liquidity score during the Charging period. The rewards are distributed on a daily basis during this period, and they are sent to the user’s Crypto.com wallet.
All the user has to do is deposit the tokens into the liquidity pool and charge during the charging period. After that, you can expect the rewards to start flowing in.
How Much Can I Earn with Crypto.com Supercharger?
At each Supercharger event, the yield is different, and APYs range from 0-34%.
To that note, the amount you receive daily will depend on the amount of CRO you stake, the charging length, and the value of the pool. In order to get the most out of the supercharger, you will have to invest more in CRO.
A smaller amount of CRO results in minimal benefits. For a stake ranging between 1500-1900, CRO would receive the following rewards;
- Bitcoin (BTC) will receive 0.00000185 BTC ·
- Ethereum (ETH) will receive 0.00037 ETH
- Terra (LUNA) will receive 0.02 LUNA
- Shiden Network (SDN) will receive 0.01 SDN
- YdX (DYDX) will receive 0.00 DYDX
- Hedera Hashgraph (HBAR) will receive 2.02 HBAR
How to Increase your Earning Potential on Crypto.com’s Supercharger
The amount is not that small, but users have the opportunity to explore what each altcoin has to offer. To increase your earning potential, you can use the following techniques;
- Register a Crypto.com NFT account with the same email as your Crypto.com App or Exchange account for a chance to increase your benefits tenfold.
- You can get the Supercharger 10x Booster NFT that could increase earnings up to 52% a year·
- By owning the Supercharger Booster NFT, you might double your Bitcoin returns. You can get the NFT assigned to your account if you’re lucky.
How to use Crypto.com’s Supercharger
Using the Crypto.com Supercharger is an easy and straightforward process. All you have to do is follow these steps;
Step 1: Register
Log in to your Crypto.com App or Crypto.com Exchange on your browser, and click on “Supercharger.” Proceed to select “Charge now” and agree to the terms and conditions. Then click “Continue.”
Step 2: Choose your Stake
After creating your account, choose the amount of CRO you want to process. The bare minimum you can enter is 100. You can add and remove any new CROs as you please. The rewards you get will be based on the existing CRO in your account.
Step 3: Monitor your Account
The CRO allocation will now appear on a Supercharger page, and you can trade and monitor its progress. You must accept the allocation during the acceptance period to be eligible for returns.
Step 4: Enjoy the Rewards
Now, you will begin receiving daily rewards. As long as you have the account, you can expect daily incentives.
How to Withdraw CRO from Supercharger
Withdrawing CRO from Crypto.com’s Supercharger is easy. To accept rewards, users need to follow the following steps;
- Log onto Crypto.com App or Crypto.com Exchange
- Look for “Balances” and click on it
- Select “Events and Rewards“
- Click on “Supercharger“
- Then click on “Acceptance Period” in the Supercharger Event
- By accepting your allocation, the rewards will be issued daily to your spot wallet
Users need to note that even though they can withdraw all the $CRO, they still need a minimum of $100 CRO to be part of the Supercharge event.
One of the best features of the Supercharger platform is that it charges zero fees for transactions and the mining process. This is an attractive aspect, considering many liquidity platforms charge their users gas fees, which eat into the profits earned. This is not the case with Crypto.com’s Supercharger.
Risks Associated with Supercharger Crypto.com
The Supercharger is one of the most user-friendly sites, and there are very few risks associated with it. It is very safe to use, and even beginners with no knowledge of liquidity mining can use it. The only threats you might come across are plummeting rates that affect your portfolio or a smaller allotment of returns due to a rise in the DeFi token.
However, many of the risks here are dependent on the current market factors, and the effects are felt differently by each user. That said, users who do not collect their rewards during the acceptance period risk losing them all.
Also, awards given before acceptance can be forfeited if you accept the benefits won after the Reward Period begins. You can’t really lose money on the Supercharger platform, but you risk not being able to maximize your CRO.
So is the Crypto.com Supercharger worth it? In a word, yes. If you are looking to make passive income in the world of cryptocurrency, then the Supercharger is a great place to start. By staking you get to unlock a whole new world of rewards