One of the most popular crypto cards is provided by the Crypto.com app. On November 2nd, 2020, the staking requirements for each of the Visa cards were updated due to the price of CRO (Crypto.com Coin) falling from $0.16 to $0.10 per coin over the summer.
Since the Nov. 2nd update, CRO has fallen to $0.06 per coin. With this newest update coming on January 18th, 2021, doubling all the staking requirements for each card, and Crypto.com working to expand into new markets. I can see why CRO holders are pissed off about the price but the company remains focused on improving the tokenomics.
If anyone was planning to get the card, I would recommend buying CRO while it's cheap and get the card you want with current staking rates before the update. Take a look at the image below compared to the staking rates for benefits in the above image and decide which do you prefer to do for the card you want.
I wonder if this change of doubling the staking requirements will help pump the price of CRO or just piss off the community even more for them to have a reason to dump the price. Personally, I would like to upgrade to the next card from trading profits. So if the price dumps, even more, I will be more than happy to upgrade and pay less. I'm in crypto for the long term, short price changes don't really bother me as much as someone eyeing the price every day.
Click here if you want to signup to crypto.com using my referral link. :)
Posted Using LeoFinance Beta
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