- Crypto.com just unveiled Earn Plus.
- The product offers an annualized yield of up to 5%.
- There are strategies users can use to maximize their rewards.
The crypto exchange landscape is more competitive than ever, with new players entering the market daily. To secure its place as a major player, Crypto.com has rolled out its latest offering: Earn Plus. The program enables users to reap substantial rewards if they just know how to. Read more to learn how to use this rewards program to get the best possible rewards.
What Is Crypto.com Earn Plus?
Earn Plus is Crypto.com’s latest addition to its offerings, designed to provide users with a different approach to earning rewards on their crypto holdings. Here are the primary components of Earn Plus:
Streamlined Reward Structure:
Earn Plus simplifies the reward process by moving away from the traditional tiered systems. Instead, it offers a consistent reward rate, aiming to provide clarity and predictability for its users.
Enhanced Allocation Limits:
Users can now allocate up to US$1 million per token with Earn Plus, a significant increase from the previous Crypto Earn allocation limits. This change gives users more flexibility in how they allocate their funds.
Introduction of New Tokens:
Earn Plus has initially integrated two tokens: PayPal USD (PYUSD) and USD Coin (USDC). It’s worth noting that the reward structure for USDC has been modified under this new program. Crypto.com has also indicated the potential inclusion of more tokens in the future.
Earn Plus represents Crypto.com’s effort to refine its reward system, offering users a more straightforward approach to earning. By introducing a clear reward structure and increasing allocation limits, the platform aims to provide users with a more transparent and efficient way to manage their crypto rewards.
How to Calculate Your Rewards?
With Crypto.com’s Earn Plus, rewards are determined by the amount of CRO locked up and the duration of token lockup. Here’s a breakdown of the reward structure.
- Up to US$400: 0.5%
- US$4,000: 0.75%
- US$40,000 or more: 1%
1 Month Lockup:
- Up to US$400: 1%
- US$4,000: 3%
- US$40,000 or more: 4%
3 Months Lockup:
- Up to US$400: 2%
- US$4,000: 4%
- US$40,000 or more: 5%
In essence, longer lockup durations and higher CRO amounts yield greater rewards.
How to Get the Most Out of Crypto.com Earn Plus
With Earn Plus, figuring out how to get the best possible rewards from the program is straightforward. All you have to do is figure out what amount of tokens you want to invest and at what lockup period. Here’s how to get started:
Choose Your Token:
Acquire either PayPal USD (PYUSD) or USD Coin (USDC). These are the two tokens currently supported by Earn Plus at launch. You can purchase these tokens directly on the Crypto.com platform or transfer them from another wallet or exchange.
Allocate to Earn Plus:
Once you have your chosen tokens, navigate to the Earn Plus section on the Crypto.com platform or app. Allocate your PYUSD or USDC tokens to Earn Plus. Remember, the more you allocate, the more potential rewards you can earn.
Opt for Longer Lockup Periods:
The reward rates for a 3-month lockup are higher than those for flexible and 1-month lockups. If you can afford to lock your tokens longer, opt for the 3-month lockup to earn the highest possible rewards. For instance, while a 1-month lockup only gives 1% returns on sums less than $400, a 3-month lockup gives double the returns.
Stay Updated on Reward Rates:
Reward rates are subject to change based on market conditions. Regularly check the reward rates for your allocated tokens to ensure you’re getting the best possible returns. Adjust your allocations if necessary.
Following these basic steps, you can easily participate in the Earn Plus program and maximize your returns.
On the Flipside
- While getting 5% annual rewards on your stablecoins may sound enticing, it is not without risks. Unlike traditional banks in many jurisdictions, funds held in cryptocurrency platforms like Crypto.com do not benefit from deposit insurance.
- Earn Plus is best for users who already have significant crypto assets. Users with large fiat cash holdings should look into returns on bank deposits.
Why This Matters
Crypto.com’s Earn Plus offers an alternative way for traders to earn on their holdings, diversifying income streams beyond just trading.
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