Do you want to earn interest by staking your cryptos without extra effort? In this article, you will learn about the concepts of Crypto.com Earn, how Crypto.com Earn works. Or, how safe is Crypto.com Earn?
By the end of this article, you will also learn how Crypto.com Earn interest works and how you earn money with Crypto?
But before we jump more profound into the section, let’s understand what Crypto is and how it works for you?
What Does Crypto.com Earn Mean?
Crypto.com is a Crypto lending platform by Crypto.com Which is similar to saving Bank account but instead of saving fiat currency you will be staking crypto and you will get interest on that.
A wallet or account of crypto.com which acts similar to your bank account pays interest in the form of reward when users stake Crypto in their account/wallet.
How Does Crypto.com Earn Work?
Unlike a savings account, Crypto.com Earns its users to earn rewards by staking funds in your Crypto.com Earn account/wallet.
Only the difference is- you keep a fiat balance in the savings account, but in Crypto.com Earn, you store crypto balance to make a decent amount of interest. A savings account gives you only interest of 3.5%-7%.
On the other hand, Crypto.com Earn provides up to 18% interest on your staked crypto coin. You can stake different cryptocurrencies to get a different percentage of interest accordingly. Remember, your interest rate depends upon the types of cryptos and the duration for which you stake your Crypto.
Also Read: Crypto.com Supercharger Explained
How Do You Earn Money With Crypto.com Earn?
Following are the ways and strategies to earn money with Crypto.com Earn. You can trade or invest through a cryptos exchange platform like crypto.com.
You can invest without having cryptos for yourself, like a gold investment in the share market. Also, you can stake crypto coins to generate a decent amount. You also have the option for blockchain participation by mining.
Let’s understand the strategies of money-making with cryptocurrency in detail:
The crypto investment involves buying, holding, and selling cryptos. Investors used to buy any cryptos and hold them until the price uplifted and sold to make a profit.
The prices may be volatile if you sell it in a short period, but it will be more profitable in the long term. For this, you need to identify and invest in comparatively stable cryptos for a longer period.
Ethereum and Bitcoin are the cryptos known for giving the best return on investment for a long time and are regarded as the safest cryptos to invest in.
Trading is another option to make money with cryptos. Many investors make money by short-term investment in cryptos.
However, such investments are highly volatile. Suppose you have some technical and analytical skills.
You may generate good profit by analyzing the Crypto’s performance and predicting the price. If you have an excellent predicting sense, you can make money whether the market is bearish or bullish.
3. Staking & Lending
In the process of staking, you don’t invest your crypto coins. Instead, you only have to hold it in the wallet of crypto to earn.
If you keep it for a more extended period, you receive reward coins similar to bank interest that you receive on your savings account, as mentioned earlier.
Also Read: How to Reset Crypto.com Passcode?
4. Crypto Social Media
You are also rewarded with crypto coins for content creation and curation by the multiple social media platforms based on blockchain.
Mining cryptocurrency involves cryptocurrency transaction validations. It is an excellent source of earning where the miner generates the cryptocurrency and makes huge rewards in a crypto coin. It needs more investment and technical expertise.
6. Airdrops & Forks
Free tokens or AirPods are distributed for free to create awareness about the crypto project. You can use your free coins for the investment or buy the cryptos or trade. Airdrops are done by the exchange platform to increase the user base.
The blockchains fork due to upgrades or protocol changes that generate new coins. Whether you stake coins on the actual chain will give you free tokens. In this way, you can generate a good amount while making the right decision at the correct time.
Can I Withdraw Crypto.com Earnings?
Yes! You can easily withdraw your crypto. For this, you can follow the steps below.
Steps to Withdraw Crypto.com Earnings:
- Sell your desired cryptocurrencies like bitcoin or Ethereum on exchange.
- Follow the Sign-up process followed by the verification process.
- Buy or Deposit Bitcoin into your wallet/account.
- Withdraw your Bitcoin to the bank account or PayPal.
Also Read: Is Crypto.com FDIC & SIPC Insured?
How Does Crypto.com Earn Interest Work?
You lend out cryptos like bitcoin or altcoins in exchange to earn interest. This interest in cryptos works the same as the interests of savings account works.
You deposit funds, and the bank pays you interest in return. Similarly, you get paid rewards or interest when you stake cryptos in your account.
Is Crypto.com Earn Safe?
Yes. The Crypto.com Earn is safer when compared to other forms of investment. The factor that makes Crypto.com Earn safely is that you don’t have to invest. Instead, you only have to stake your cryptos to get rewards and interest.
The exchange platform is reliable; however, there are many risk factors for investment. First, it is pretty unpredictable and volatile.
There may be a sudden drop in your staked cryptos which can cause huge loss even more than you have earned as interest.
To Sum Up
Many factors affect your earnings if you invest in Crypto. You must have good technical, analytical, or observation skills.
Besides this, some luck factors also work in this market. However, you can safely play with crypto to earn by only holding your crypto coins for a longer period to generate a good amount of interest.
Also Read: How Long Does Crypto.com Take To Verify?