Crypto.com App Review 6/18/2020

 

Crypto.com App Review
                    Crypto.com App Review

       Have you ever heard of Crypto.com? I’ve been aware of the exchange for awhile now, but just recently choose to give them a try. While watching one of my favorite youtubers  Lark Davis (TheCryptoLark), I noticed a brief promo for Crypto.com that spurred my interest.

          Lark Davis discussed a feature that allowed account holders to use debit/credit cards against their cryptocurrency balance. I was also intrigued by the crypto earn feature which is very similar to staking. I figured why not give them a try, I’ve pretty much tried every reputable exchange with a mixed bag of results.  My mind was made up when he said that I would receive $50 in MCO tokens if I staked 50 MCO for a certain amount time along with signing up for a card. This didn’t happen as promised, but we will get into that later.

            I first attempted to sign up for Crypto.com via there exchange website and soon discovered that it was not offered to the United States. I then downloaded the app and started the sign up process and successfully registered an account.   Once it was time to fund the account, I ran into problems that would have caused most people to given up. Crypto.com would allow me to enter my debit card information, but every time I attempted to fund the account, the transaction would be declined. This was quite frustrating to say the least.

            I attempted to use a several different cards and each attempt was declined. I then started to worry that one of my cards may have the account frozen due to too many unsuccessful attempts. Guess what, that’s exactly what happened when I attempted to buy something a couple days later.

             At that point my frustration got the better of me and I gave up. I was done with Crypto.com and the regulatory problems that I was experiencing. Its a well known fact that traditional financial institutions are not a fan of cryptocurrency and some make it very difficult to transfer funds to and from crypto exchanges.

            While sitting around the house the following day it struck me like a bolt of lightening. Why don’t you transfer some Bitcoin or Ethereum to them instead of fiat currency. The whole concept behind cryptocurrency is to get away from banks and their control over our money. I felt so stupid when I quickly found the cryptocurrency deposit feature and funded my account with Bitcoin.

           Once my new account was funded, I started to explore the app and was impressed with its ease of use. There were plenty of cryptocurrencies to choose from and I didn’t feel as limited as Coinbase and Coinbase Pro have left me on many occasions in the past.

          Crypto.com even has Cardano( ADA) listed which is my all time favorite crypto project next to Bitcoin. This told me that this exchange has foresight and will reap rewards when the Shelly Testnet goes live. I decided to purchase a few choice cryptocurrencies and proceeded to stake 50 MCO tokens with crypto earn.

           Once the staking was completed, I attempted to sign up for a debit/credit card. It appeared to be ordered, but my account always stated that the status was pending and I have not received my 50 MCO to this date. On the positive note, I was impressed with the high rate of returns that Crypto.com offers.

        I staked CRO tokens for 14% annual return for 30 days. They offer as high as 18%, but I didn’t want to put all my eggs in one basket on a test run. I am sure you understand the logic. Ethereum and Bitcoin don’t offer as much, but its better to be earning something than nothing.

           So the big question is would I recommend   Crypto.com  and the answer is yes. I am a bit disappointed when it came to the the $50 bonus, but I am hoping that the process just takes longer than I expected. With that said, please remember that I am not a financial adviser and I am just another guy on the internet with a passion for cryptocurrency. Please do your own research before you make any financial decisions.

              If you have found this Crypto.com App Review helpful and you are planning to join Crypto.com, please use one of the  Crypto.com links found throughout this page. I will receive small credit from Crypto.com and the money earned will help me keep my blog up and running. If you choose to go directly to Crypto.com, that is fine too. Happy trading with whatever exchange you plan to use.

Check Out The Crypto Lark video below for a more insightful view into Crypto.com. Please feel free to fast forward to the 4:34 time mark of the vlog.

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Crypto.com App Review 6/18/2020

Etoro Cryptocurrency Exchange Review

Etoro Cryptocurrency Exchange
Etoro Cryptocurrency Exchange Review

As you may already know, I am a staunch supporter of cryptocurrency and I am always looking for different ways to purchase and store my currencies. You will often find me reading articles and watching Youtubers that specialize in crypto. While doing my research, I often see advertisements for Etoro Cryptocurrency Exchange , but I never paid much attention to them due to the fact that there are so many options out there in the marketplace.  Etoro finally caught my attention last week with the new “Copy Traders” feature so I decided to give them a try.

While exploring and testing out the Etoro exchange, I decided to do a Etoro Cryptocurrency Exchange Review to help others along the way. AS you may already know, choosing the correct exchanges can make and break traders in the cryptocurrency realm.

The Copy Traders feature allows you to set your Etoro account to follow and mimic the trades of various Top Traders on Etoro. Instead of doing hours of research, I can now just copy a top trader and wait for the profits to pile in.  That is what the commercial stated, but of course we all know investing does not always work like that. The concept sounded too good to be true but I couldn’t pass up the opportunity to earn some easy gains so I set up an account with Etoro.

The initial sign up for Etoro Cryptocurrency Exchange is relatively painless and easy. They do require KYC which is an abbreviation for “Know Your Customer”. Many crypto fans hate this law because the original vision of Nakamoto Satoshi, the creator of Bitcoin which led to the creation of all cryptocurrencies was to get away from the ever watching eye of governments and fiat currencies.

For me, I don’t mind that much because I choose to pay taxes on whatever my gains are and to stay in good legal standing. During the KYC process, they will ask you to provide everything that you would for a new bank account. The one item not required that is required by other investment firms is a copy of your driver’s license.

Once all that is done, they forward you directly to the deposit feature that lists a large number of banks. Unfortunately, my preferred bank was not listed and this sent me scrambling for other methods to fund my account. They do offer wire transfers, but this requires a minimum transfer of $500.00 and I was not willing to deposit that much on a test run.

I decided to contact their customer support and was very pleased with how quickly they responded to my email. The answer wasn’t what I wanted to hear, but at least I got a prompt answer. That’s major thumbs up for Etoro because lack of quality customer support is a problem with a lot of exchanges. Eventually I remembered that I had an account that I haven’t used for some time and it was listed under available for deposit. The minimum for deposit is $50.00 so that’s exactly what I did.

Once officially in, the first thing that I noticed is that the number of listed currencies was limited. They offer trading for Bitcoin, Ethereum, Bitcoin Cash, XRP, Dash, Litecoin, Ethereum Classic, Cardano, IOTA, Stellar, EOS, NEO, Tron, Zcash, and Tezos. To a new trader, this appears to be a lot of options, but in reality it is not.

They have listed some of the most popular and reputable currencies on the market to avoid as much volatility as possible in an unpredictable crypto market. I was quite pleased to see Cardano listed. This is currently my favorite project led by Charles Hoskinson and I believe that it has potential to rival Ethereum someday, but I will save that for another blog.

Once I saw the investment options available, I knew Etoro was set up for beginner and novice traders. I don’t think that is a bad thing, but it is good to know who their platform is designed to service. Other trading platforms offer over 200 different cryptocurrencies, but many of them are extremely high risk and should be avoided unless you are an experienced trader. Etoro offers a very easy to use straightforward website, while the more advanced exchanges can be quite confusing at times. I had to appreciate the simplicity of their design.

I then started to browse through the various Top Traders and look through their portfolios. When I finally found a Top Trader with the track record that I was looking for, I decided to copy their account but was unable to. It turns out that you can open an account with as little as $50.00, but you need a minimum of $200.00 deposited into your account before you can use the “Copy Trader” feature. I was a bit disappointed at first, but so is life. I decided to invest half in Tezos and the other half in Ethereum Classic.

So, what do I think ? While doing the Etoro Cryptocurrency Exchange  review it became apparent that Etoro is perfect for a new fledgling crypto trader. I remember using other exchanges when I first started out with cryptocurrency and spending hours before fully understanding what features they were offering and how to navigate through the website.  If you are an advanced trader, you may be disappointed with Etoro and will feel that they are not the best fit for you. But if you are just looking for ease of trading or trying out the “Copy Trader” feature, Etoro is the exchange for you.

If you have found this Etoro Cryptocurrency Exchange review helpful and you are planning to join Etoro, please use one of the Etoro Cryptocurrency Exchange links found throughout this page. I will receive credit from Etoro and the money earned will help me keep my website up and running. If you choose to go directly to Etoro, that is fine too. Happy trading with whatever exchange you plan to use

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Etoro Cryptocurrency Exchange Review