Finally some good news 💳
Crypto.com has been around since 2016 and claims to have over 50 million users. It's one of the biggest blockchain companies worldwide, yet they've screwed over its customers multiple times over the past year.
◘ Staking rewards have been reduced.
◘ Cashback from debit cards has lessened.
◘ Lower tiered cards are losing the most benefits.
◘ Spotify and Netflix 100% cash back are no longer promised for all.
◘ There is no free Visa card option now.
◘ Millions of dollars were spent on advertising and partnerships.
◘ The CRO token is down about 700% from its ATH at the end of 2021.
◘ They lost $30 Million from users' wallets due to a hack.
◘ A large number of their employees were let go.
That's a lot of negative rep from such a big brand. Somehow Crypto.com has been able to survive the havoc that this past year has been in the crypto markets. We must also recognize that all of crypto is down pretty hard, not just CRO.
Crypto.com has even managed to get past their embarrassing Matt Damon ad with the most untrue catchphrase ever: "Fortune Favors the Brave". With as much money as CRO investors have lost this past year, it's safe to say fortune DOES NOT favor the brave.
Despite all of this negativity, Crypto.com still has a massive amount of users. There are some that rely on the Defi options, others enjoy the use of the centralized exchange for whatever reason. There is an NFT marketplace too, but we all know that has not been too popular as of late. The main thing that Crypto.com offers is its fancy metal Visa debit cards, which are not cheap.
Although the Visa cards have taken a few hits this year, we have finally received an update to the mobile app that makes using these cards so much easier.
Gone are the times of forgetting to add money to your Crypto.com Visa card, aka top-up. You no longer have to do this manually and it can be triggered on its own once you set a custom command for it to do so. It's a simple process that takes less than a minute to finalize and after that, you'll never have to worry about your card accidentally declining again.
You just select how much and when you wish to auto top-up. You are given the option to select the crypto wallet you wish to top-up with, it must be one of the cryptocurrencies supported by Crypto.com of course. After you confirm this change in your settings, you can feel safe knowing that as long as you have enough of that particular crypto in your wallet, your Visa card will never fail you.
There are some limits to this though.
For now, this feature is only available in the USA, Australia, and Brazil. More countries will be added at a later date.
Also, you cannot auto top-up an amount greater than $500. This however shouldn't cause any issues for most users. Big spenders may be the only ones who get annoyed by the limits.
In a year where it's been pretty much nothing but negative for Crypto.com users, it's nice to finally get something positive. It may be small and most would think auto-top-up would have always been a thing. It took a while to finally get it, but users will benefit tremendously from this minute addition to the Crypto.com app.
My NFTs: https://inji.com/@daltono/nfts
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Crypto.com with their aggressive marketing has helped in making them one of biggest blockchain companies. I think we can all appreciate the fact that despite all the blows they've received the past year they're still here innovating and adding value.
I hope this new feature soon rolls out to more countries. It will be very helpful.
You make an excellent point. We must thank Crypto.com for taking these risks and broadening the crypto audience as a whole. Sure, investors have suffered this past year. However, it is pretty great to see Crypto.com's name on an NBA court, in the UFC, Formula 1, and more places with massive amounts of viewers.
The app looks good, but I don't know if it can be trusted after the hacking last year. Do you use it?
I use it daily, but I never keep large amounts of money on there. I only use the Visa card functions and never mess with the exchange or Defi options. I gradually send a few hundred dollars to my wallet at a time and top-up as I go about my daily doings and spending. I just use Stealth-X to swap my HIVE for BTC and just have it sent to my Crypto.com address. It works quite well.
I have a feeling this new auto top-up feature will encourage people who don't normally keep as much in their wallets to increase that amount so that the auto function doesn't ever fail. I'm trying not to be one of those people though because security with centralized entities is always a concern.
I don't see hive listed on Stealth-X can you share a link pls
Posted Using LeoFinance Beta
WOW! You're totally right about that. I've been using them for a long time and HIVE has always been on there. I see now that it has been removed. I wonder if it's just down for maintenance due to the recent hardfork or if they will not be adding it back. I emailed them to find out the answer. I noticed that HIVE has also been removed from Changelly, SimpleSwap, and basically every other quick swap exchange that I know of. For now, https://blocktrades.us/en/trade is the only one I know of that is still working.
Probably the hard fork, exchange’s are really slow to upgrade the wallets, block trades will see an increase during these times.
They tweeted me back to confirm that it's due to Binance still having HIVE down for maintenance due to the hardfork.
the auto top-up feature sounds good to me too. But as I said, I don't think I will use it.
I was tempted to use crypto.com when they were offering such high interest rates on some of their wallets a year back but I was too skeptical to actually go through with it. These things are often too good to be true. I figured, "yeah you can earn a lot of interest, but will you ever be able to withdrawal it?" Sounds like a lot of people never could in the end so I'm glad I didn't put any crypto into the site. This top up feature sounds good but can they really be trusted when they have already done such a shitty job of keeping people's crypto safe? That's quite the list of failures that you compiled. This could be another "fool me once shame on you" type scenario.
Just a thought
A lot of their promises were too good to be true. Had crypto kept going up, I'm sure things would have been just fine. That's not what happened though and it almost seems like Crypto.com didn't really plan for that outcome. They were left scrambling to survive and have changed so much in how they operate.
I really only use their app for the Visa Card functions. I don't really feel safe putting thousands of dollars in their app, but a few hundred just so I can pay for food and other bills... that's something I have to do to be able to keep living my life through crypto and being happier than ever because of it.
Yeah that exact same scenario (drop in price) happened to many different crypto companies. Quadringa was a big one in Canada. I listened to a really interesting podcast on that whole scandal.
Keep a small amount in it for the reason you mentioned sounds safe enough 👌
Who knows what’s actually the cause of this. There is so much junk happening in the world right now.
Yeah that's true
Hey mate, good to see you back in my leofinance.io feed again! :D
This post has inspired me to have another look into getting a crypto.com card.
I keep putting it off because I read so many different conflicting reports on what using one means for tax in Aus.
But god it would be handy.
Posted Using LeoFinance Beta
Thanks! I should probably talk about finance more, but I just don't find it as interesting as some of my other favorite topics.
I like my Crypto.com card, but I'm not so sure it is the clear best option anymore. Coinbase's card now offers cash-back options too. Might be worth comparing the two.
I haven't done it yet, but they are supposed to send .csv files at the end of the year for taxes. I don't really look forward to that part, but anything is better than working my old shit job with those robotic cunts.
Hello dear friend @daltono good day
I appreciate you sharing this update on automatic card top-up
I take this opportunity to wish you a splendid weekend
A hug for you and a big affection for all your family
Thank you buddy. I wish you a great day as well.
This is very good information and will be appreciated by many users in the United States, Australia, and Brazil, at least for the time being. Users in other countries will also be looking forward to this good news.
In my country, which is not too familiar with the use of crypto, who knows when?
At least the users here have also been very large, and that is very encouraging for the growth of this decentralized system.
Pray for us here too, Bro.
I'm sure they'll roll this out to other countries soon. It is a feature that users have asked for quite often.
Blessings to you and your people bro.
I dont know if i would like to give auto access to my credit card to a website that have lost so much money in hacking... i love the featured they have to rechargue cripto with fiat, mo all website makes it so easy like they do... but auto access? No sir
They don't have access to your credit card or banking info for this. They have their own debit card that you can purchase and that is the only card involved. This new auto top-up feature can only happen when you manually send cryptocurrencies such as Bitcoin to your Crypto.com wallet. The $500 limit keeps things from getting out of control because one you top-up your debit card, you cannot undo that process and the money must be spent. This may not be for everyone, but it's convenient for me as I have been using my Indigo debit card for almost a year now.
Ohh well. I understand better now. Agree is better to use their service Credit card than yours personal one
There will always be some risk.
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what's so embarrassing? Damon looks pretty cool in that ad. I even just started using the Brave browser.. so maybe fortune will favor me now! :P
Looks like crypto.com went all big and hype at first and probably blew all it's money on UFC advertisement! :P no more left to pay employees. :(
but they're still here and looks like thing are improving. a great sign when they are working on real important stuff, like functionality..
ps. I guess u can't go lambo shopping with that max top up feature.
I do like Matt Damon. Embarrassing by the fact that their token was at an ATH when they originally released that video and they made tons of promises about Crypto.com most of which are yet to be fulfilled.
yup.
Very useful and much needed feature.
No clue why it took them so long to implement this. I’m glad it’s finally an available feature.
excellent option for those of us who are forgetful and do not top up our cards on time. A custom command to do it for us
I have only failed to remember once, but it was a time when I wished I had this auto feature so I wasn't stuck scrambling during checkout. It will be nice to have this so that won't occur ever again.
I have only failed to remember once, but it was a time when I wished I had this auto feature so I wasn't stuck scrambling during checkout. It will be nice to have this so that won't occur ever again.
Hello daltono
It's a very good news. Thanks for sharing man.
This is a great one you have shared Friend, enjoy the weekend
👍👍😀😀😀
Great news friend
I had read some news that Crypto.com was in trouble and maybe it would change the contract with Formula 1, but this news you shared seems like good news to me
There is much more negative news surrounding Crypto.com here lately. This positive bit of info may be small, but at least it's not more negativity.