Crypto.com launched Supercharger on their exchange in September 2020. The first project to launch on Supercharger was UniSwap with an impressive $500,000 USD allocation. Their latest Enjin Supercharger is their biggest event, with an allocation of $2,000,000 USD, providing a massive 22.84%.
Supercharger is a simple, flexible and secure liquidity mining platform for the most popular cryptocurrency projects, such as UniSwap, Polkadot and Bitcoin. Users receive tokens (as rewards) for depositing CRO tokens into the Supercharger pool. Any verified Crypto.com Exchange user is eligible to participate as long as you have some CRO to deposit!
In this Supercharger review, I explain the whole process of how Crypto.com Supercharger works, from buying and depositing CRO to then claiming your rewards.
What is Crypto.com Supercharger?
Supercharger is a simple, flexible and secure liquidity mining platform for the most popular crypto projects. The platform was created by Crypto.com the one-stop-shop for crypto. Supercharger, available via the Crypto.com Exchange enables Crypto.com users to deposit CRO and farm coins from the most popular crypto projects.
The platform is simple to use and requires only a single click. Simply deposit the Crypto.com CRO token into the Supercharger in order to mine tokens and earn daily rewards.
How does Supercharger work?
When a Supercharger event is in the “Charging Period”, users can deposit and withdraw tokens from the liquidity pool as often as they want. A charging period is between 30-45 days. Plus there’s a minimum deposit of 100 CRO which users can deposit from their Crypto.com exchange spot wallet
Then the “Reward” or “Distribution Period” is for the next 30-45 days and starts after the Charging Period. Users’ rewards are based on the liquidity score they accumulated during the Charging Period. Rewards are distributed evenly on a daily basis during the Reward Period and are prorated based on a user’s share of the total liquidity pool. These tokens are sent back to your Crypto.com exchange spot wallet.
So, all you need to do is deposit your tokens into the liquidity pool and charge for the duration of the charging period. Then you will receive reward tokens every day during the Rewards Period.
What Tokens Can I Earn with Supercharger?
With Supercharger, you can farm some of the most popular cryptocurrency and DeFi projects. The first project that ever launched on Supercharger was the Uniswap UNI token with a 500,000 USD allocation. They’ve since launched successful events with the likes of Polkadot, DOGE and Bitcoin.
Their latest project is with Enjin (ENJ). This is their largest ever token allocation of $2M, plus their highest estimated returns. Previous events had APYs at around 2 or 4% (with the highest rate of 13% for Uniswap). However, the Enjin event has an estimated APY currently sitting at just over 21%.
Who Can Use Supercharger?
Any Crypto.com App or Exchange user can use Supercharger. Except for residents and citizens of Hong Kong SAR, Mainland China and the USA. If you don’t already have a Crypto.com account click here.
To get started, you’ll need to be verified to starter level or above. Plus, you’ll need to have some CRO available in your exchange spot wallet to deposit.
With Supercharger, there is a minimum deposit of 100 CRO per deposit. Users are allowed to make multiple deposits too without any costs. There is no maximum limits of CRO that you can deposit.
The Crypto.com Supercharger platform boasts zero fees. You will need some CRO to deposit. However, unlike a lot of liquidity mining platforms, there are no gas fees to pay. Meaning no extra costs eating into your profits.
Where Can I Buy CRO Tokens?
If you don’t have any CRO to deposit into the Supercharger, you can trade for these using the crypto.com exchange site (or app) where they have a range of trading pairs available for CRO.
Alternatively, you can use their “DEFI Swap” platform. However, just be aware that tokens deposited as liquidity in the pool will not count as staking.
How Is the Liquidity Score Calculated?
Crypto.com take an hourly snapshot of the liquidity provided, per user. Throughout the “Charging Period”, one snapshot of the liquidity pool would be taken every hour and the liquidity provided by each user is logged.
Then they calculate the total liquidity provided per user. At the end of the Charging Period, they add up the liquidity provided by each user every hour during this period.
What is the Acceptance Period?
The acceptance period is a really important part of Supercharger. This is because it can effect the number of rewards you will recieve.
Immediately after the charging period ends they’ll determine your liquidity score and the rewards you’ll receive. Once this is confirmed, you have the option to accept it any time before the “Acceptance and Reward Period” starts.
To ensure that you receive your the full reward amount allocated to you, its important that you log in to the exchange and accept before reward distribution begins.
If you fail to accept your reward allocation (before reward distribution begins) you lose a portion of your rewards. to be distributed. If this happens you’ll still be entitled to the remaining portion of your reward allocation. However, you will need to log into the exchange and accept your reward allocation.
How to Accept Your Supercharger Rewards
To receive the full reward allocation, you’ll need to log into the Crypto.com Exchange site and accept your rewards. This can only be done once the charging period is complete.
Firstly, log in to the Exchange and head to your “Balances”. Then click on “Supercharger”.
Ensure that the “Supercharger” tab is selected on the left and locate the event.
Simply, accept your allocation by ticking the box and your rewards will then be issued daily.
In this review, we’ll take a look at what Crypto.com NFT is, what are NFTs, how to buy NFTs, and the different payment methods and supported wallets.
What is Crypto.com NFT?
Crypto.com NFT is looking to become the world’s largest and most user-friendly NFT platform. Having the aim is to accelerate the world’s transition to cryptocurrency, with NFTs being the next step.
Crypto.com launched its NFT platform on March 26th, 2021. The platform is dedicated to delivering unique content to collect and trade from the most popular artists, musicians, and sports. These include the likes of Aston Martin, BossLogic, Boy George, Snoop Dogg, and Lionel Richie.
Leading this brand new venture is Crypto.com’s newly appointed Executive Vice President Global Head of NFTs Joe Conyers. Joe was named a Digital Power Player by Billboard Magazine four years in a row, and most recently served as Chief Strategy Officer at Downtown Music Holdings. Joe brings over a decade of experience building global businesses that support artists.
Crypto.com’s first NFT dropped on March 26th, 2021, is was a new collection entitled “Greater Heights” by Marvel artist BossLogic. Within 24hrs of going live, the “Greater Heights” collection from BossLogic completely sold out. Some of the digital artwork is already being resold on the platform, with editions going for more than $5000. If you would like to track the prices and history of the artwork being sold, check out NFT LamboFactory.
Future drops include partnering with Aston Martin Cognisant Formula One. Who are introducing NFTs as a way to celebrate the team returning to F1 for the first time in 60 years. On Saturday 27th March, the crypto.com NFT platform will offer a new way for their fans to own a piece of their history. And the collection of NFTs they’re making available will capture the very first moments of their return to F1.
Boy George also has a drop. Which will display his creativity and brings together animated and still versions of his own paintings together with his iconic music, representing the full breadth of his artistic output.
What are NFTs?
An NFT, or “Non-Fungible Token” is type of digital asset. These NFTs are unique and one of a kind and can be bought or sold like any other piece of property or artwork.
In the same way as cryptocurrency, the ownership of your NFT is recorded on a blockchain. Therefore records cannot be forged as its maintained by computers all around the world.
NFTs can also contain smart contracts that could possibly include royalties for an artists for any future sales.
How to Buy NFTs?
To buy an NFT with Crypto.com, you simply register and create a Crypto.com NFT account on their site. This will include providing your name, email address, and a display name for your profile. You will then be required to verify your email address and login.
When a drop is available you will be able to view this under the “Drops” section of their site. If its not yet “Live” you can also subscribe to be notified when these are launched.
Locate a listing that you would like to purchase, this will then provide you with the description of the NFT, plus the description and cost. You can also “view available editions” to choose a specific one.
When you are happy you can then select to “Buy your NFT”.
You’ll then be prompted for your payment method.
Any collector or fan can pay for NFTs, regardless if they are a crypto.com user or not. Users can pay with a single click with a credit or debit card.
Alternatively, existing Crypto.com App users can pay using the Crypto.com Pay feature. Meaning that they can purchase their NFTs with the likes of Bitcoin, Ethereum, and the more recently added Dogecoin.
When making your payment you can use Crypto.com App, Metamask, WalletConnect and Other Cryptocurrency Wallets.
Payments with the Crypto.com App is incredibly easy to do. Simply scan the QR code shown on the screen with your crypto.com app and confirm the payment. Plus this is instant and there are no network fees to pay.
Metamask, WalletConnect, and “Other Cryptocurrency Wallets”, allows you to pay using the tokens that are listed on Defi Swap. If you’re not familiar with Defi Swap, check out my tutorial here.
What can you do with your NFT?
Once you have your NFT what you do with it is up to you. You can keep it as a collectable, or you can sell it. Any NFTs purchased can be found under “My NFTs”.
Under the “Explore” tab within the platform, you’ll find a host of NFTs being sold by users on Crypto.com NFT. Where you’ll find see the editions that are available to buy, the current owner at the price.
This is great for those who might miss out on a drop and still want to get their hands on these popular NFTs. Or, for those looking to make a bit of money on the artwork that they’ve purchased.
The Crypto.com Exchange is part of a range of products and services offered by the one-stop-shop for crypto, Crypto.com. Launched in 2019, the exchange enables users to trade crypto to crypto, with low fees and deep liquidity.
The exchange is powered by CRO, Crypto.com’s native token, meaning that CRO holders can enjoy privileges by staking the token or by using them to pay for the likes of trading fees. This Crypto.com exchange review will take you through a comprehensive review of the platform.
When you first go to Crypto.com, it can be a little overwhelming to navigate through their site, especially for someone new to crypto. Crypto.com has so many features, by just going to the Crypto.com Exchange you options such as; Markets, The Syndicate, Stake and Earn, Trading Area, and Supercharger. So where should you started?
On the “Markets” tab, you’ll find information with all the trading pairs and markets available for trading. There are essentially 3 markets on Crypto.com which are Bitcoin (BTC), USD Tether (USDT) and the Crypto.com Coin (CRO). However, if you are looking for FIAT to crypto trading unfortunately this is not available. The Crypto.com exchange is crypto to crypto. Meaning that you’ll need to have crypto to get started and you cant actually deposit via bank transfer and buy bitcoin with GBP for example.
However, there is a way around this, as you can deposit and buy crypto on the Crypto.com app using a bank transfer, debit or credit card and easily move that crypto over to the exchange. If you wanted to jump straight into trading you can do so from this section of the site by selecting your trading pair.
“Lending” allows Crypto.com exchange users to take out instant loans and borrow stable coins, using their crypto as collateral.
The “Syndicate” is Crypto.com’s fundraising platform and an area for users to get their hands on some discounted crypto. New digital assets are listed on the Syndicate and you can get up to 50% off featured assets.
“Stake & Earn” enables users to soft stake as a way to earn rewards simply by holding a balance in your Crypto.com exchange wallet. Or you can lock up your funds and stake for rebates, up to 10% APR, & Syndicate access.
The “Trading Arena” is simply a central area for access to their trading battles, competitions or offers.
Then finally there’s the “Supercharger”, enabling you to deposit CRO and earn rewards in some of the hottest cryptocurrency projects such as the likes of UNI, DOT and BTC, which are all based on your liquidity score. If you want to know more information about Supercharger you can click here to check out this post for the latest event.
Crypto.com Exchange is well laid out and simple to use once you get your head around things. The trading screen is set out with graphs and charts showing buy and sell trades on the left, over varying periods of time. Then you have your order book with bids and asks in red and green and the trade history showing recently filled orders.
There are 4 order types that you can use on the exchange. These are “Market”, “Limit”, “Stop-Limit” and “Stop-Loss“. The type of order that you choose to trade with will affect your trading fees (see below).
Is Crypto.com Safe?
In terms of security, Crypto.com’s exchange splits this between cold storage and hot wallets. With 100% of user cryptocurrencies being stored offline in cold storage and all funds held in hot wallets are used to ensure day to day withdrawal requests. They also have a strategic partnership with Ledger, global leader in security and infrastructure solutions for cryptocurrencies and blockchain applications.
Crypto.com has secured a US $100M direct insurance policy led by Arch Underwriting at Lloyd’s Syndicate 2012. Bringing Crypto.com’s total cryptocurrency insurance to $360M, including direct and indirect coverage via custodians.
Trading & Fees
The fees that you pay on the Crypto.com exchange are based on a maker/taker model. I’m not personally a day trader, I personally hold my crypto for the long term and therefore my trading volume is less than 250,000 which puts me into VIP1 tier.
Therefore, if I were to place an order at the current market value (and is therefore completed immediately), I am deemed as a taker of the market as I am taking the current market price and my trading fee is 0.16%.
However, if I were to become a maker of the market and define a new price that is not immediately matched by an order on the order book. I will pay less, at 0.10%. In terms of order types, a “Taker” is a “Market” order and a “Maker” is a “Limit” order.
You can also get discounted fees by staking their CRO token with varying percentage discounts depending on your staking amount.
Exchange Withdrawal fees
The fee that you pay to withdraw from the Crypto.com exchange will depend on the crypto you are withdrawing. Plus there are some minimum withdrawal amounts too. As an example, the minimum withdrawal amount of Bitcoin is BTC 0.0004 with a fee of 0.003 BTC. For a full list of withdrawal fees click here.
Trading on the Crypto com exchange is crypto to crypto. Meaning that you’ll need to have crypto to get started and you cant actually deposit via bank transfer and buy bitcoin with GBP for example. However, there is a way around this. As you can deposit and buy crypto on the Crypto.com app using a bank transfer, debit or credit card and easily move that crypto over to the exchange.
There’s essentially 3 markets on Crypto.com which are Bitcoin, USDT and CRO (Crypto.com’s own token). Within each market are a good range of trading pairs, although if you want a wider range of crypto and altcoins you may be better using the likes of Binance.
The exchange includes trading pairs with the following tokens;
A full list of crypto markets and trading pairs is shown on the Markets page.
Crypto.com has a pretty extensive FAQ with user manuals to get you started and a live chat inbuilt for those needing further support. Although they state that the customer support team usually replies within a few hours, this is dependent upon traffic and in my experience, this has been a lot longer. In fact one query I had when ordering my Crypto.com card still remains unanswered and the card has since arrived.
Crypto.com Exchange Referral Program
Similar to other crypto trading platforms Crypto.com has a referral program to entice new traders. However, its alittle more compliate compared to the like of Gemini ($10 BTC sign-up bonus) or Binance Exchange (10% off trading fees).
By signing up to Crypto.com using this referral link, you will receive $50 of CRO as a sign-up bonus, as long as you also stake at least 5,000 CRO. Users who stake below 5000 CRO will receive $10 of CRO as a sign-up bonus.
Crypto.com is not a decentralized exchange like UniSwap for example, to follow regulation you will need to undergo KYC-verification to the advanced level. Once all the steps are complete your account will be instantly credited with CRO.
If you want to earn rewards in some of the most popular cryptocurrency projects such as UNI, DOT and BTC you can deposit your CRO into the Supercharger. To find out more, click here to check out my post for the latest events and to watch the tutorial.
Crypto.com launched SuperCharger on their exchange in September 2020. The first project to launch on Supercharger was the UniSwap UNI token with a $500,000 USD allocation and they have since launched events for Polkadot (DOT) tokens and most recently Bitcoin (BTC).
Supercharger is a simple, flexible and secure liquidity mining platform for the most popular cryptocurrrency projects.
In these projects, exchange and app users receive tokens (as rewards) for depositing CRO tokens into the Supercharger pool. Any verified Crypto.com Exchange user is eligible to participate as long as you have some CRO to deposit!
How does Supercharger Work?
When a Supercharger event is in the “Charging Period”, users can deposit and withdraw tokens from the liquidity pool as often as they wish with no gas fees. A charging period is for 30 days and there’s a minimum deposit of 100 CRO which users can deposit from their Crypto.com Exchange spot wallet
Then the Reward or Distribution Period is for the next 30 days and starts after the Charging Period. And Users’ rewards are based on the liquidity score they accumulated during the Charging Period. Rewards are distributed evenly on a daily basis during the Reward Period and are prorated based on a user’s share of the total liquidity pool. These tokens are sent back to your Crypto.com exchange spot wallet.
How to Receive Your Supercharger Reward Tokens
Immediately after the charging period ends, your liquidity score and rewards are determined. Once this is confirmed, you have the option to accept it anytime before the “Acceptance and Reward Period” ends.
To ensure that you receive the full reward amount allocated to you, it is important that you log in to the Crypto.com exchange and accept your allocation before the reward distribution begins. If you don’t you will lose a portion of the reward scheduled to be distributed.
If this does happen, you are still entitled to the remaining portion of your reward allocation, just as long as you log in the exchange and accept your reward allocation.
The below tutorial walks you through the steps to accept your rewards.
Crypto.com offers almost every product possible within the cryptocurrency space including an exchange, app, cards, earn, credit, invest, pay, buy NFTs, a separate wallet as well as new DeFi features for adding liquidity, swapping, and staking. Plus they even have their own crypto.com (CRO) tokens too. With a lot of products under its wing, this Crypto.com review includes information on each service.
Who are Crypto.com?
Crypto.com, with headquarters in Hong Kong were previously known as Monaco. The platform was launched in June 2016 and renamed to crypto.com in July 2018. The company now has 3 million users worldwide. With users being able to trade on their Exchange, earn interest on crypto deposits, use their reward-driven Visa cards and even have access to DeFi features.
Crypto.com CRO Tokens
The Crypto.com native utility token (CRO) is an Ethereum based ERC20 token, now available on 22 exchanges worldwide. CRO provides their users with discounted fees, higher earnings, priority token allocations and more on the Crypto.com Exchange and App Payment. Holders of the coin can gain access to exclusive benefits of the MCO Visa Card and mobile crypto payment and participate in the Crypto.com Chain network to receive rewards.
The Crypto.com app allows you to buy with 7 FIAT currencies by bank transfer and debit or credit card and 53 cryptocurrencies. there’s 0% fees for deposits, crypto to crypto exchanges and transfers to their own wallet. The App is an all in one custodial wallet, investment, and that encompasses a range of products that promote the adoption of digital coins on a wide scale. You can apply for the MCO Visa Card in a matter of minutes from right within the app too.
The crypto.com wallet allows users to securely send and track their crypto. It supports and allows you to manage your BTC, ETH, CRO, MCO, LTC, XRP, XLM and other erc20 tokens in the wallet too. With full control over your crypto, your private keys are encrypted locally on your device. And you can easily import your existing wallet with a 12/18 or 34-word recovery phrase to the crypto.com wallet.
Crypto.com DeFi Swap
Defi Swap is a new DeFi protocol by Crypto.com, allowing users to swap and farm DeFi coins at the best available rates whilst offering an attractive incentive program for CRO token holders. Crypto.com who are famous for their one-stop-shop crypto app is the next crypto company to release a DeFi service for their users.
Launched on the Ethereum main net, the service allows users to swap and farm DeFi tokens as well as provide liquidity and earn “Triple Yield.” Which includes Swap Fee Sharing, CRO Defi Yield, and a Bonus Yield which is coming soon.
Also at the time of this writing, Crypto.com are guaranteeing a minimum reward pool of 14,000,000 CRO for the first 14 days (1,000,000 CRO per day).
You’ll find the interface is very similar to UniSwap and this is because Defi Swap is a fork of UniSwap V2. However, where Defi Swap differentiates itself is where users can stake CRO and get great rewards.
Crypto.com´s Supercharger is a simple, flexible and secure liquidity mining platform for the most popular cryptocurrency projects. Crypto.com Exchange and App users can deposit CRO and earn rewards in return. Their first project was with Uniswap UNI with a 500,000 USD allocation and they have since launched Polkadot (DOT) and Bitcoin (BTC) events. To find out more about Supercharger and to get started farming coins, check out my blog.
Crypto.com & PayID
Crypto.com has now integrated PayID, meaning that their users can now send and receive crypto across any network using PayID which currently connects 120Million consumers worldwide. PayID is a payment identifier protocol developed by Ripple and provides a single ID for anyone needing to send or receive money.
So instead of entering complicated alphanumerical wallets addresses and accounts, you can now enter a simple ID that’s personal and related to you and this can certainly help with preventing any errors when sending funds.
When you register for a unique Pay ID with Crypto.com you get an exclusive Crypto.com branded username, so you’ll just have just a single ID for sending and receiving crypto payments.