Something to note with the new changes from Crypto.com. You can stake somewhere else if you wanted the Netflix being free thing
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I'm seeing some of, well at least "I'm getting Netflix for free." But in reality, you aren't. For the You need to keep in mind you are putting $x down and won't be able to get any more. They were paying So for the $4k card you would be getting $335.76 a year from them paying for Spotify and Netflix. Add Amazon on that for the higher card and that is $515.64 a year. Now lets say you staked $4k of crypto, the staking rewards would had to be 8.5% and for the other it would have to be 1.3%. Literally, for the higher level card if you staked ETH 2.0 you would be making $1,216.39 more than the required amount to pay for those services. And for the lower end you could stake something like Avalanche and make $41.35 more than the required amount to pay for those services. And it gets worse on the $400k level. Staking nearly anything would grant you far more. Like you would only need a staking reward of 0.13% to pay for those services. Note: I'm not including the other benefits because some of them like the Jet thing is a joke. Many cards do have airport lounge access, the 10% cash back is a partnership with a number of cards that now have better cashback rewards, Airbnb is maxed out $100 a month with a 1 thing a month, and Expedia is 1 thing a month for $50. And even if we did include it for the $40k card staking ETH would still grant you $616.39 more than the benefits, and for the $400k card you would only need to find a staking coin of 0.33% to cover it. So pretty much any staking coin would grant you way way way more than what the benefit covers. By them removing that 1 thing, it made the platform worthless. Maybe instead of bleeding off money in sports stadiums and other things no one cares about. Maybe that should've taken a note from Kraken and let your product stand up on it's own. (Keep that in mind for anyone who says this was too good to be true and had to end at some point. Keep in mind how much money they blown through in marketing and buying sports stadiums which obviously didn't work because they wouldn't been in this spot if it did.) _______________ BTW for those of you thinking I'm joking about the ad and sports deal being over priced.
https://www.nasdaq.com/articles/crypto.com-coin-is-a-bargain-if-their-ads-featuring-matt-damon-work
https://www.coindesk.com/business/2021/11/17/ftx-cryptocom-and-the-stadium-curse/ IMO they should've spent more on a browser version of their exchange, working on making their system tax friendly, and stuff around that. submitted by /u/crua9 |
