Those pushing for better Crypto.com card alternatives have their reasons. These mostly focus on the costs of using existing options and the emerging lack of convenience with existing card options. 

Crypto.com issues the Crypto.com card to a section of its users. The card is meant to be an easier way to access crypto assets and spend these on merchant websites and other point-of-sales terminals that accept compatible cryptocurrencies. This card is part of an emerging trend of cards issued by exchanges to enable users to gain e-commerce capabilities with their crypto assets. 

One of the main issues confronting crypto users is the problem of convertibility between fiat cash and cryptos. Many banks and regulators across the world frown at fiat-crypto transactions. 

So, even if a crypto trader makes money via trading or investing in cryptos, there are few channels for converting these crypto funds to fiat cash for offline use. 

Furthermore, the channels are getting fewer and more banks that had pre-existing relationships with centralized crypto exchanges are cutting them, narrowing the options even further. Issuing a prepaid debit card to enable exchange users to convert their crypto funds to fiat funds in card format is a handy solution to the problem. 
[The Crypto.com card ](https://www.forbes.com/advisor/credit-cards/reviews/crypto-com-rewards-visa/#:~:text=The%20Crypto.com%20Visa%20Card*%E2%80%8B%E2%80%8B%20allows%20cardmembers%20to,actually%20a%20series%20of%20cards.)was meant to be the solution to allow holders to use their crypto funds as though they were using cash. 

Cardholders also get other perks, such as cashback at specific retail shops, airport lounge access, free ATM withdrawals, and cashback when used with the Dosh app. However, there are some other requirements that Crypto.com cardholders must fulfill to enjoy some of these perks and, in some cases, even to qualify to keep using the card. 

Some users have found some of these requirements unbearable and are now searching for viable Crypto.com card alternatives. 

## What is driving the search for Crypto.com card alternatives? 

One of the perks users of the higher-tier versions of the card enjoyed was that they would get reimbursement of up to 100% monthly on Amazon Prime, Spotify, and Netflix subscriptions. This has been stopped. 

In addition, top-up fees (fees charged for loading the card with crypto funds) have increased in the last year. 

Getting the Crypto.com card requires the user to stake some amount of money in CRO tokens, the native token of the Crypto.com exchange. Since the staking is in the native CRO token, it is subject to price fluctuation risks as it is not a stablecoin. 

Following on from the last point, the price fluctuations of the crypto market in which the CRO token trades have proven to be a risk factor many card users cannot bear. 

If you have followed the market in the last two years, you will find that the value of the CRO token has dropped from just under $1 to a little above 6 cents. That's a massive 95% drop. 

If you had staked the minimum of €400 in CRO tokens as required, the value of your staked tokens would probably be less than €2.50. This considerable drop has proven to be a significant disincentive to new users. 

There is much talk about unresponsive customer support service, with users waiting long to respond to their questions and inquiries. This adds to the frustration many users are feeling. 

## What makes a crypto card a viable alternative? 

For cards to qualify as viable Crypto.com card alternatives, they should have the following characteristics: 

- It must have very low ATM withdrawal fees or even none at all. 

- It must boast similar perks to the card to be replaced or even better. Cashback on purchases appears to be the dominant value-added product on most crypto debit cards. 

- Ability to use both a physical and virtual card option. 

- Seamless integration to Apple Pay or Google Pay, the e-commerce payment portals of the dominant companies in the smartphone market, allows the user to make payments across thousands of compatible websites. 

- If it comes from an exchange that requires staking, the token to be staked should have some resilience against steep price depreciation. For instance, you should have the option to convert the crypto holdings on the card to an interest-earning stablecoin until such a time when the funds are to be used. 

- The staked amount, if any, should not be too high so as not to expose the user to extreme price fluctuation risks. 

- Any usage fees should be minimal and should ideally not exceed what is paid for regular fiat credit/debit card usage. 

- Any additional perks, such as using the funds in the card as collateral for taking crypto loans, would be an added advantage. 

- It would also help if the company issuing the crypto debit card had a customer support desk that responds promptly to client requests, even though delayed responses from customer support seems to be a common denominator across the crypto world. 

With these factors in view, here are a few potential candidates that can serve as Crypto.com card alternatives. 

## Some Crypto.com card alternatives 

Nexo card: The Nexo card supports at least 20 cryptocurrencies and provides 2% cashback on all card purchases. In addition, you can convert the funds on your card to a stablecoin and use the same as collateral to collect crypto loans from the Nexo exchange. Clients can access both the physical and virtual versions of the card, and both integrate with Google Pay and Apple Pay. Users do not pay any inactivity fees. 

Gemini card: The Gemini crypto card provides specific cashback on retail purchases, with 3% cashback on dining outings, 2% on groceries, and 1% on all other retail purchases. It is one of the few cards available to US citizens and residents. Cashback is given in BTC or Ethereum, with no exchange or foreign transaction fees. Support is provided for 40 cryptos, and all rewards are paid instantly. 

Ledger Wallet Card: [Ledger wallet crypto cards](/news/article/ledger-crypto-wallet) were launched in 2021. The card, named the Crypto Life (CL) card, is available to EU and US customers, and is linked to the user's Ledger wallets. 

## Conclusion 

Crypto.com card alternatives have emerged due to the desire for better cashback offers, lower fees, and other perks not found with the existing solution. 

However, challenges remain due to the stiff opposition from regulators on crypto-fiat exchange solutions, thus limiting the scope of usage and general accessibility of these cards. 

It is hoped that the passage of time will lead to changes in the crypto card industry that will widen the scope of access to this product. 

cryptocurrency cards in wallet with blue filter

The search for Crypto.com card alternatives 

Peculiar to Proof-of-Stake (PoS) networks, crypto staking has become a popular means for holders to put their idle digital assets to use and earn passive income. Since there's good money to be made, this article explains what to consider when choosing the best platform to earn staking rewards besides proposing a few select ones.

## Understanding crypto staking 

[Crypto staking](/news/article/what-is-staking-crypto) imitates a regular savings account where users lock up their cryptocurrency for a specific time to secure the network. The platforms use the staked funds to process transactions and strengthen themselves from attack. Stakers, for their effort, earn staking rewards, a portion of the transaction fees made by the platform. Through staking, users of a particular blockchain unite to ensure the blockchain's integrity and security.

## How to stake crypto 

The process of staking crypto is usually similar for most PoS cryptocurrencies:

### Step 1: Buy a PoS cryptocurrency

### Step 2: Choose a digital wallet that supports staking (MetaMask and Atomic are good examples) for the coin you want to stake.  
 
### Step 3: Transfer your cryptocurrency to your digital wallet. (It’s safer using your wallet instead of the ones offered by exchanges).

### Step 4: Stake directly to a validator or join a staking pool

### Step 5: Start earning rewards. The system automatically adds your rewards to your staked amount, enabling you to earn more the in the next earning round.  

Considerations when choosing the best crypto staking platform
It would help to consider the following factors before deciding on the best staking service provider.

The number of stakeable coins: The greater the number of stakeable coins, the more avenues for generating passive income, meaning you can spread your risk across many tokens. 

APR on Offer: The Annual percentage return (APR), also known as annual percentage yield (APY), should be a key consideration. The higher the APR, the more income you generate. 

Fees: Research the fees charged when looking for the best crypto staking platform and weigh your options carefully since some offer zero fees for staking.

Security: The security of your cryptocurrency is paramount. Before signing the dotted line, determine if the platform is regulated by any global body and its security measures.  

## Best crypto platforms for staking

Since most native exchanges offer users a chance to earn passive income from staking, we will introduce five leading platforms so you can choose the best crypto staking platform for you.

1.  Crypto.com 
The Singapore-based [Crypto.com](https://crypto.com/earn) runs a crypto staking pool and allows users to stake on several leading coins, including Bitcoin (BTC), Cardano (ADA), Ethereum (ETH), its native token Cronos (CRO) and at least 40 others. The platform offers flexible and locked staking and charges 2.99% staking fees. The most notable features include the following: 

•	Deep liquidity.

•	A wide variety of assets.

•	Higher earnings if you stake Cronos.

•	Access crypto at the actual cost.

•	Lock-up period of up to 90 days.

•	APR – 14.5%.

2.  Binance Earn 
Launched in 2017 and considered the largest cryptocurrency exchange worldwide, Binance trades more than $65 billion daily and is loved by crypto users globally. It runs a crypto staking platform called [Binance Earn](https://www.binance.com/en/defi-staking) that offers DeFi, locked and flexible staking, and doesn’t charge staking fees. Some features include: 

•	Supports most PoS coins.

•	High-interest rates.

•	Different deposit options.

•	Lockup period up to 90 days maximum.

•	Supported coins: Most PoS coins.

•	APR is variable.

•	Interest distributed daily.

•	High-level security.

3.  Kraken 
The US-based [Kraken](https://pro.kraken.com/) cryptocurrency exchange is popular as it’s built to attract newbies and expert cryptocurrency investors, offering many tradable digital assets. Kraken provides a sizeable crypto staking library allowing users to earn from at least 12 coins. The platform offers an option to pay staking rewards in fiat currencies like the USD and Euro. Key features:    

•	Offers cryptocurrency and fiat staking.

•	Off-chain staking available.

•	Efficient staking experience.

•	Flexible and locked staking.

•	Interest paid twice weekly.

•	Variable staking fees.

•	Supports 12 PoS coins.

•	APR – Variable.

4.  eToro 
Staking is free for members of various [eToro](https://www.etoro.com/crypto/staking/) clubs, but the earnings vary based on the particular membership plan. The staking rewards are split according to membership category: Bronze - 75% of the yield, Silver, Gold, and Platinum – 85%, while Diamond and Platinum+ earn 90% of the yield. APR is between 5 and 6.25%. The eToro platform currently supports three cryptocurrencies for staking, namely Ethereum (ETH), Cardano (ADA), and Tron (TRX). Features include:

•	High yield ratio.

•	High-level security.

•	Social trading capabilities.

•	Locked staking.

•	Variable staking fees.

•	Interest paid monthly.

5.  Gemini 
[Gemini exchange](/news/article/gemini-staking-support-launches) is a state-of-the-art crypto staking platform offering staking rewards of up to 8.5% APR besides allowing staking for stablecoins. The platform provides zero transfer and withdrawal fees, with no minimum staking amount or hidden costs. Some notable features include:    

•	Supports over 40 coins.

•	Offers cold storage.

•	Regulated by New York State Department of Financial Services.

•	No staking fees.

•	Variable APR.

•	Interest paid monthly.

## Conclusion

This guide has discussed crypto staking, choosing the best platform, and a rundown of the leading platforms and the coins they allow staking on. If you're going to put your hand into your pocket to trade, do more research and only put in an amount you can afford to lose.


Best Crypto Staking Platform Review

Loaded Lions is a non-fungible token (NFT) collection by [Crypto.com](/news/article/crypto.com-ceo-past-includes-bankruptcy), one of the most vibrant ecosystems in the crypto, NFT, Web3, and Metaverse. Crypto.com boasts a cryptocurrency exchange and [NFT marketplace](/news/article/crypto-com-nft).

The collection comprises 10,000 unique Profile Picture (PFP) avatars. Despite the milestones accomplished by many projects in the space, this NFT is the first native platform-owned project released into the digital collectibles space. 

Like other NFTs such as the Bored Ape Yacht Club (BAYC), Mutant Ape Yacht Club (MAYC), Moonbirds, CryptoPunks, and NBA Top Shots, some of the NFTs are rarer than others. A few are considered legendary and come with different prices.

## Loaded Lions NFT have received bids of $1 million

When the collection was launched in November 2021, [Crypto.com](/news/article/crypto.com-under-investigation) set a fixed price of $200 for each of the 10,000 NFTs. 

Within a few days, a few of the NFTs saw relatively higher bids. This led to them being listed for more than $1 million.

The owner of #1969 agreed to sell his digital piece, modelled after the now infamous "Fortune Favors the Brave" logo popularized by actor Matt Damon in his promotion of bankrupt crypto exchange FTX, for $1 million. 

The owner of #1953 increased his asking price to $2 million after receiving offers in the range of $1.3 million. 

Such financial activities and buzz around the collection led to a price spike of more than 600,000% for some of the 10,000 collectibles within days. 

As of 15 January, 2023, more than 4,000 owners have contributed to over [$50 million](https://crypto.com/nft/collection/82421cf8e15df0edcaa200af752a344f?sort=likes&order=DESC&lang=en) of volume traded. 

## Sale of the collectibles affects Crypto.com's token

There is a close relationship between certain cryptocurrencies and NFTs. FLOW, the native asset of the Flow ecosystem, is positively and negatively affected by the sales of NBA Top Shot and NFL ALL DAY. Ether (ETH), the primary cryptocurrency of the Ethereum network, is also affected by the trading patterns of popular NFTs such as CryptoPunks, [BAYC](/news/article/bored-ape-nft), MAYC, Doodles, Azuki, CloneX, and others. 

RON, the crypto asset of Ronin, is also affected by [Axie Infinity](/news/article/axie-infinity-coin) sales. 

In the same way, CRO, the native asset of Crypto.com, which was built on the Cronos blockchain, also thrives on the sales of the NFTs molded after lions to move up and down in value. 

In November 2021, [CRO](https://coinmarketcap.com/currencies/cronos/historical-data/) soared by 225%. The token opened on 1 November with a trading price of $0.2121, increased to a monthly high of $0.9698, tested a monthly low of $0.1974, and closed the month with a new price of $0.6904. Within the period, trading volume rose from as low as $145 million to as high as $2 billion. 

CRO market capitalization also soared to $17.4 billion from $5.4 billion. 

## Do the NFTs have a future?

Yes, Loaded Lions have a future, as they can add more volume to the already booming sales of the global NFT market. The milestones it reached in November 2021 contributed to the month's [$2.9 billion](https://www.cryptoslam.io/nftglobal?month=2021-11) from more than 1 million unique buyers, involved in over 7 million transactions at an average sale value of $404.30. 

As of mid-January 2023, the total global NFT market sales have surpassed [$45 billion](https://www.cryptoslam.io/nftglobal). The total sales for the first 15 days of the first month were [$422 million](https://www.cryptoslam.io/nftglobal?month=2023-01). 

With the filing of NFT trademarks at the US Patent and Trademark Office (USPTO) soaring by more than 20,000%, positive market sentiment could reflect in the sales of Loaded Lions and the entire digital collectibles sector.


pink image of lions and loaded lions logo

Loaded Lions NFT Explained

Since its inception in 2016, Cronos crypto (CRO), developed by CRO Protocol Labs - Crypto.com, has aimed to provide a seamless cryptocurrency experience. Fueled by this goal, it has seen mass adoption around the globe. Cronos' rising curve has seen a steep acceleration and does not seem to slow down.

## What is Cronos crypto?

Cronos is a unique next-generation public blockchain created for buyers and sellers. It enables them to use and receive cryptocurrency easily while paying attention to privacy and security.

Crypto.com aims to put cryptocurrency in every wallet. The company takes a special interest in assets that increase value. This particular interest has propelled them to develop several investment opportunities that include:

•	A staking platform for CRO and NFTs.

•	Visa cards with cashback features.

•	DeFi protocols that pay interest.

•	Swaps and farming.

•	Other investment opportunities offering more than 14.5% interest.

## What is a CRO Token?

CRO (CRO-USD) is the native token for [Crypto.com](https://crypto.com/). Initially, it was known as Monaco (MCO), but was rebranded to CRO, matching its exchange, Crypto.com. It was an ERC-20, Ethereum-based token that was migrated to the Cronos blockchain ecosystem, launched in February 2022. The CRO token provides crypto-tied benefits, including buying and selling fiat currency, debit cards, trading, borrowing, and lending.

The total supply for CRO totals 30 billion. This is after the burning of 70 billion CRO tokens, the biggest crypto burning in history, which shocked the globe. The remaining 10.4% billion are secured by smart contracts to be burned monthly upon unlock.

The CRO supply is allocated as follows; 20% reserved as capital, 20% for the network's incentives, 10% for community development, 20% for frozen ecosystem grants, and 30% to be released within five years for secondary distribution alongside launching incentives.

You can use the Cronos crypto as an intermediary currency and to convert crypto to fiat and vice versa at affordable rates.

## How to buy Cronos crypto

The best platform to buy CRO is Crypto.com. However, CRO is not limited to its exchange but is also available on other popular exchanges like Huobi, Kukoin, and [Binance](/news/article/python-get-crypto-prices-binance). Here are the steps to follow to buy CRO:

1.	Select your preferred exchange – Ensure your exchange has listed Cronos. Look at the gas fee and ensure they suit your needs. Check to ensure that the exchange has an integrated wallet.

2.	Choose a payment method – After settling on a particular exchange platform, pick the best payment medium. Remember to check for associated fees. Issuers are fond of treating cryptocurrency purchases like cash advances that incur fees upon initiating transactions.

3.	Place your order – If you have already funded your account on the preferred exchange, you can now navigate to the Cronos CRO page. Select the amount you wish to invest on this page and press enter to continue.

4.	Choose your storage – While many exchanges come with integrated wallets, you can still store your CRO in an alternative wallet. You can choose between the "hot" wallet online or the "cold" offline wallet.

## The CRO price prognosis

Currently, the price for CRO is at $0.08074, ranking it as the 33rd cryptocurrency (26th January). In circulation, CRO supply sums 25,263,013 692 having a market capitalization of $1,579,112.361.
From the Energy Web Token (EWT) perspective, CRO has already hit its maximum retracement targets. A reversal is expected soon.
CRO has multiple utilities and thus offers high hopes for investing in it.

In 2023, according to our analysis, expect the price to range between $0.71 and $1.07. The average price should be $0.89. 

Moving forward to 2024, you can expect prices between $0.9 and $1.36, with an average price of $1.13. In 2025, the price could range between $1.15 and $1.73, averaging $.144. The 2026 expectations lie between $.146 and $2.20 and an average price of $1,86.

This is an optimistically smooth appreciation curve for long-term investors. However, remember that it is all based on its ongoing developments and social sentiment from the online community.

## Wrap up

Cronos crypto is still in its infancy. Having performed well last year and proven to have invested in interesting developments like credit cards, NFT staking platform, and DeFi passive earning schemes. 

CRO is likely to go up, but could just as easily go down. Crypto is volatile. Deep research of a specific cryptocurrency is needed before investing.


navy and green image of hexagon pattern with cronos crypto hexagon logo in centre

Cronos Crypto Price Prediction

[Crypto.com](https://crypto.com/) was one of the sponsors of the 2022 [FIFA World Cup](/news/article/world-cup-vr-viewing) in Qatar. The initiative was taken to promote its Cronos crypto (CRO). It was expected that the publicity campaign at the biggest sports tournament would boost the coin's value.

However, the tournament offererd little exposure to CRO. It failed to trigger any significant price action for the coin. While many cryptocurrencies were consolidating their positions before a potential rally during Christmas, CRO is still bearish. Currently, the trading price of Cronos is only $0.064.

## CRO’s market value dropped by 50% in November

Instead of getting a boost, the Cronos crypto price fell by more than 50% in November. The FIFA World Cup did not benefit Crypto.com in providing global exposure. It is partly because of the politicisation of this sports event. The ban on wearing LGBTQ+ armbands and the prohibition of alcohol at tournament venues created controversy. 

Currently, the media is mainly generating negative headlines for FIFA and the Qatari Government. It has taken the limelight from the sponsors and has somewhat affected their reputation. 

## The effect of FTX contagion

The [collapse of the FTX exchange](/news/article/ftx-collapse-blockfi-suspend-withdrawals) also played its part in the price decline. It has become an unstoppable contagion that has affected numerous DeFi projects. The entire cryptocurrency market experienced the impact of its collapse in November.

CRO suffered from the FTX crash as it is an exchange token like FTT. The FTT token was the native token of the FTX exchange. Likewise, CRO powers the Crypto.com exchange. Cronos felt burnt as investors lost trust in tokens dependent on exchanges' performance.

Unfortunately, CRO remains one of the coins that failed to recover. It was trading at around $0.12 at the start of the month. But after the first week, it saw a sharp decline that persists. At the end of the month, it had shed more than 50% of its market value. It is now trading at around $0.064, according to [CoinMarketCap](https://coinmarketcap.com/currencies/cronos/).

## Cronos crypto price prediction

Currently, Cronos’ crypto price is less than its 200-day and 50-day simple moving averages (SMA). It is showing a continuous bearish trend while indicating high selling pressure. Moreover, the trends are neutral to bearish for the coming weeks. 

Now, let’s see the long-term price predictions for Crypto.com coin. The forecast from [PricePrediction.net](https://priceprediction.net/en/price-prediction/cronos) shows that next year, CRO’s price will average $0.098. Besides, it may top the price charts with $0.11. Moreover, in 2025 it is likely to maintain the average market value of $0.22. According to these insights, it is expected to reach the $1 mark in 2030 and will average $1.44 in the year. 

In comparison, [Coin Codex](https://coincodex.com/crypto/cronos/price-prediction/) predictions are slightly bullish. It predicts that in 2023, CRO’s value may reach $ 0.193269 to $ 0.332090. Moreover, it suggests that the token may hit $1 in 2025. Potentially, its price may reach $ 1.634169 in the new year. 

## Is Cronos crypto a good investment?

The [Crypto.com coin](/news/article/crypto-com-card) blockchain introduces an open-source protocol. It allows the mass adoption of digital assets and promotes the benefits of ownership. The token also has the backing of one of the most influential exchanges in the market. 

Unfortunately, at the moment, investor confidence is relatively low in such exchange-backed tokens. It is showing bearish trends and has already shed 50% of its value in a month. It seems highly unlikely that the coin will recover in the near future. That's why it does not seem like a good time to buy Cronos.


green glowing cronos crypto logo on black background

Cronos Crypto Publicity Falls Flat at World Cup

While Crypto.com, one of the top cryptocurrency exchanges, may be in ‘fine health’, [according to CNBC](https://www.cnbc.com/2022/12/09/cryptocom-kris-marszalek-involved-bankruptcy-offshore-holdings-client-money-monaco.html), there are questions about the Crypto.com CEO.

In a report which mentions that, due to inadequate and incomplete proof of reserves, it was discovered that roughly 20% of customer cash was held in a meme token known as Shiba Inu. the history of CEO Kris Marszalek comes under scrutiny.

Marszalek's past in business is littered with warning signs, such as a multimillion-dollar settlement for defective items, corporate bankruptcy, and the failure of an e-commerce company immediately after a blowout marketing campaign.

## Crypto.com CEO history raises concerns

[Marszalek responded to CNBC's demands by publishing a 16-tweet thread](https://www.cnbc.com/2022/12/09/cryptocom-kris-marszalek-involved-bankruptcy-offshore-holdings-client-money-monaco.html) in which he discussed how the personal bankruptcy he had previously experienced and the sudden shutdown of his e-commerce business should be viewed as learning experiences.

In 2009, Marzsalek's business settled with a customer for $5 million due to a dispute regarding a defective shipment of flash drives. Marszalek and his business partner were each given roughly $3 million in payments from Starline, with Marszalek receiving $1 million for his personal use and his business partner receiving $1.9 million.

By the year 2009, Starline had gone bankrupt as a result of the inability of its clients to repay the credit lines that the company had granted to them during the economic crisis that occurred in 2007 and 2008.

The court dismissed Marszalek's argument that he was reimbursed for debt after determining that the transfer of $300,000 to Tekram was "in actuality a payment" to Marszalek.

Marszalek and his business partner were back in the game shortly after the company declared bankruptcy. They established a holding company in an offshore jurisdiction in the Cayman Islands, which was revealed in the publication of the Paradise Papers. Buy Together, owned by Middle Kingdom, was the owner of BeeCrazy, an online retail business that offered intense discounts on the products it sold. Both purchasers and vendors were driven to the website by the substantial price reductions offered on various goods, ranging from spa tickets to USB power banks.

The corporation invested $700 million in the stadium and signed a contract with LeBron James to advertise during the Super Bowl. The severe decline in the market that occurred in 2022 was devastating for all the major players.

As a result, [Crypto.com had to let go of hundreds of staff](/news/article/crypto.com-under-investigation) in the most recent few months. Cronos, the native token of Crypto.com, has seen its value drop from $3 billion to $1.6 billion as investors have become less confident in the cryptocurrency.



red image of trading graph with crypto.com ceo in foreground

Crypto.com CEO Past Includes Bankruptcy

The exchange platform [Crypto.com is under investigation after sending $405 million to the wrong person](https://finance.yahoo.com/news/cryptocom-ftx-fiasco-233855168.html), raising concerns among crypto watchers in the wake of competitor exchange [FTX's](/news/article/ftx-vs-binance-liquidate-funds) bankruptcy filing on Friday.

Observers who closely examined the transaction theorised it was an attempt to inflate trading volume. The analyst who initially noticed the transaction was a [Coinbase](/news/article/coinbase-nft-platform) employee.

Before this Crypto.com investigation, the company made headlines when it sent $10.5 million by mistake instead of a $100 refund to a woman in Australia in December.

## Crypto.com investigation

CEO of Crypto.com Kris Marszalek claimed on Twitter that the transaction was an accident. A company representative told Yahoo Finance that money was sent to Gate.io, another cryptocurrency exchange, when it should have gone to an offline cold storage wallet.

The spokesperson explained that the movement of funds from the Crypto.com custody system is only possible between approved and whitelisted addresses that are attached to its cold wallets, hot wallets (connected to the internet), and corporate accounts at third-party exchanges."

Nonetheless, the transaction triggered crypto investors, who drove Crypto.com's exchange token (CRO-USD) price down by 24% in the last 24 hours. Bitcoin (BTC-USD) also decreased by less than 2.5% over the same period, while ether (ETH-USD) dropped by 2.5%.

## Exchanges publish "Proof of Reserves"

The Crypto.com investigation also follows a rush by several exchanges to publish their "Proof of Reserves," demonstrating that they are not using investor funds during the week following FTX's collapse.

On Thursday, [Crypto.com](/news/article/crypto.com-news-uk-approval) released its Proof of Reserves in its wallets, claiming to have $3 billion in total customer assets. According to the exchange wallets tracked by blockchain analytics platform Nansen, the figure was $2.55 billion as of Saturday, a 15% drop.

Proof of Reserves has long been used by some cryptocurrency exchanges, including the [Kraken](/news/article/kraken-review) exchange based in the US. However, depending on the frequency and amount of a company's disclosed balance sheet, the measure may still be insufficient.

According to CEO and co-founder of Chainlink Labs Sergey Nazarov, Proof of Reserves can prove solvency. It shows, he said, if the assets a company claims to have are available in real time.

Michael Anderson, a co-founder of the crypto venture capital firm Framework, said the mechanism is 'great', as long as there is proof of liabilities and assets.

However, he added: "It gives you a portion of the story."

Anderson continued: "It helps people know if a company is using its customer assets as collateral to borrow money."


Crypto.com Under Investigation

Last month the Crypto.com got [approval from the U.K.](/news/article/crypto.com-news-uk-approval), now the leading exchange is about to upgrade its arena. It has been announced that the Crypto.com Arena will undergo an extensive renovation project worth millions. It is working with AEG Sports to expand its services in the sporting sector. 

![crypto.com.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/crypto_com_9c882fbdcf.png)
 
This strategic investment has been made by Crypto.com to continue its marketing effort towards attracting clients from the professional sports betting market. Many sports fans already engage in sports betting and  may be interested in using the platform for their crypto currency investments. 

## Nine-figure investment plan

AEG Sports has outlined a nine-figure investment plan to help make significant improvements in the stadium. The renovation project is scheduled to be completed in the next two years. However, this renovation project would not affect sporting activities and events. 

The project includes a makeover of the entire venue’s infrastructure, chairman’s club, suites for the main concourse, installation of LED screens, and building a Tunnel Club. Moreover, it will also be linking the L.A. Live area to the Crypto.com Arena, which would include an outdoor socialising space.  

The CEO and President of AEG, Dan Beckerman, shared his thoughts on the project. He mentioned the firm previously has also invested millions in this historic and state-of-the-art venue. He said this investment shows the firm’s commitment to serving sports fans, players, and artists.  

On the other hand, Tim Harris, the Lakers’ president of business operations, also shared his views on the project. He said, "Lakers and AEG have shared a vision of providing a premier experience”. He also believes these renovations and upgrades will transition the venue into “a pinnacle of entertainment for decades to come.”

The makeovers are expected to be completed in the year 2024. However, the upcoming NHL seasons and 2022/2023 NBA will see comprehensive upgrades that will provide a better fan experience. 




Crypto.com Arena to get extensive renovations


A leading cryptocurrency exchange, [Crypto.com](https://crypto.com/) gets authorisation to operate in the United Kingdom. The country’s Financial Conduct Authority (FCA) provided the registration, in which the Crypto.com news announced on Wednesday. This will allow the firm to expand its crypto asset business throughout the UK as per the country’s regulations. 

Co-Founder and CEO of the firm, Kris Marszalek, shared his views on the confirmation and declared it a ‘significant milestone’ for the exchange. He believes that as the UK is looking to become a [global crypto hub](/news/article/cryptocurrency-investment-uk), expanding the firms crypto services to the region at this time would benefit them. He also showed his commitment to cooperating with the FCA regulations in order to strike the balance of regulation and innovation.

## Crypto.com news: Exchange to trade under FORIS DAX UK LIMITED

Other Crypto.com news suggests that the exchange might not work with this name in the UK. However, the FCA has listed a company under the name FORIS DAX UK LIMITED with the authorisation for certain crypto asset activities. It will also follow anti-money laundering and terrorism financing regulations in the country. 

Under the FCA registered trading name, the platform can offer services including exchanging one digital token for another or exchanging digital token for fiat money or vice-versa. 

Apart from that, FCA is also maintaining a [list of unregistered businesses](https://register.fca.org.uk/s/search?predefined=U) involved in digital assets trading. Along with 248 other names, CryptoCOM is also on the list. Mainly, the FCA has not authorised these companies as they fail to comply with the money laundering regulations.

## Significant regulatory approvals for Crypto.com

In August, the exchange was able to secure significant regulatory approvals. Though the FCA approval is the most recent one for the firm. Crypto.com has been regularised by Canada’s Ontario Securities Commission (OSC) and Cayman Islands’ monetary authority. Canada’s OSC approved a pre-registration undertaking from the firm on 15 August. Cayman Islands’ authorities also accepted the exchange as a virtual asset service provider on 11 August.  





Crypto.com news: The exchange gets UK approval

Crypto.com NFT subsidiary has allegedly decided to part ways with the head of its nascent NFT business Joe Conyers III.

And that’s not all. Just a few days after the biggest cryptocurrency exchange Coinbase, confirmed [laying off ](https://monitalks.io/news/article/coinbase-news-lay-offs) more than 1,000 employees, Crypto.com decided to follow a similar path.

Sources said the company made the “difficult decision” to go through “targeted reductions” – more precisely, 260 people or 5% of its workforce.

In December 2021, Crypto.com launched its new feature, or, as it called it, a “highly-curated NFT marketplace” where exclusive digital collectibles and their non-fungible token can be discovered.

Conyers helped the exchange get the platform on its feet by joining Crypto.com in March 2021.

Be it as it may, the Crypto.com NFT platform directly competes with a behemoth OpenSea, but also tackles Coinbase’s nouveau offering — enabling collectible token fans to trade and mint NFTs.

## How does Crypto.com NFT profit?

Like its mother platform, Crypto.com, the NFT branch profits whenever a transaction happens.

One can purchase NFTs minted on Crypto.org Chain, and safelist them from Ethereum, Polygon, and Cronos collections. CRO is Crypto.com's native token and can be used to buy NFTs, but multiple payment methods are also accepted. One of those includes paying with other credit cards that, for example, isn’t an option on OpenSea. Of course, one can pay with 20 cryptocurrencies and many supported wallets.

The user needs, however, to have an active Crypto.com account to buy or sell an NFT. The service is feeless if you decide to pay for ETH NFTs using the Crypto.com Wallet.

## Crypto.com NFT offering

According to the official announcement, Crypto.com NFT offers curated collections from art, music, and sports, including Formula 1, the UFC, and Paris Saint-Germain.

Platform clients can check out these collections, buy and sell NFTs, and communicate with other users in the marketplace. Also, users can create their own NFT and share their talent with the community.

The platform itself may sound like an excellent place for beginner creatives since it's easy to use and allows young non-fungible token creators to become recognized in the broader community.

Users must go to Crypto.com/NFT and click ‘Create’ on the navigation bar to be directed to the application page.

After that, the users can introduce themselves, describe their experience, say something about past work and create specific types of NFTs on the platform.

However, if one applies to become a creator and is rejected, they cannot resubmit the application.

Minting a new NFT takes a minimum of 72 hours and there is, as already mentioned, a $3 submission fee and a 15% primary listing fee. There are no gas fees if paying with the Crypto.com App wallet. Also, there is a royalty percentage fixed at 10%.

[Crypto.com's](/news/tag/crypto.com) marketplace has six different categories: Art, Celebrities, Crypto, Gaming, Music, and Sports.

In the end, Crypto.com NFT may seem like a good foundation for newbies, but for more experienced creators who mint on more mainstream blockchains such as Ethereum, it could be a not-so-challenging option.

In any case, we have to wait to see if investors buy the NFT dip or listen to Bill Gates, who recently described the phenomenon of NFTs and cryptocurrencies as being “100% based on the biggest fool theory”.


NFTs- Crypto.com – The Best Option for Beginners?

If you want to buy and sell non-fungible tokens (cryptographic tokens representing something distinctive), have you looked at the [Crypto.com](https://crypto.com/) NFT marketplace? Given the popularity of the search term 'crypto com NFT', it seems many have.

In contrast to bitcoin and other cryptocurrencies, it does not represent an interchangeable commodity. Therefore, unlike money, you cannot part with an NFT and replace it with something of equal value later. The main use of NFTs is within the digital art world.

While digital art can be copied by duplicating the file, NFTs put an end to that by encrypting the digital source of artwork with blockchain, preserving its origin. Consequently, the person in ownership of an artwork's NFT holds the 'original' piece and affords a value to the art beyond what you might expect from a computer file.

NFTs are sold to other collectors for as much as they are prepared to pay. The boom in popularity of NFTs over the past year has seen many marketplaces spring up that offer NFT trading services. The Crypto.com NFT Marketplace is one.

The marketplace contains several NFTs to buy, ranging from art and gaming to sports and music. Each NFT is either listed at a fixed price or through a traditional auction, offering flexibility for buyers and sellers. Due to a large amount of art NFTs on the marketplace, Crypto.com allows users to filter through by blockchain, price, listing date, likes, and views.

NFTs can be purchased on the marketplace using a credit or debit card, unlike other NFT marketplaces that require crypto to facilitate payments. The platform will now offer Ethereum-based NFTs, further expanding the potential universe of assets.

Crypto.com does not charge any fees to the buyer when an NFT purchase is made. In contrast, other NFT marketplaces charge a commission when making a purchase. Furthermore, the Crypto.com DeFi wallet also supports NFTs, and allows users to purchase NFTs using FIAT currency. Selling NFTs on Crypto.com costs a fee of 1.99% per NFT, and applies to the initial sale of the NFT to incentivize more creators to join their platform. 

This fee structure works well for those regularly buying and selling NFTs. In the long term, it could save them significant amounts.

Since the Crypto.com NFT Marketplace launched in September 2021, they have onboarded over 10,000 creators and built a 46K-strong following on their Twitter page and a growing Discord community.

More [NFT news](/news/category/nft-news).
 
 



Crypto.com NFT Marketplace in Focus

What is the 'crypto com card'? [Crypto.com](https://crypto.com/) Visa cardholders can enjoy up to 10% additional rewards at more than 10,000 merchants in the United States.

The month of March did not only see a recovery in the prices of cryptocurrencies but an increase in Crypto.com Visa card rewards. Crypto.com announced that residents of the US who are holders of their crypto debit cards could earn additional rewards of at most 10% in the novel token of the exchange CRO at more than 10,000 merchants.

Some of the top retailers' cardholders can access rewards from include, but are not limited to, Shake Shack. Sam's Club, Adidas, Office Depot, H&M, and Costco.

## Crypto.com Partners with Cardlytics

Crypto.com's partnership with Cardlytics, a digital advertising platform, made this possible.  

Per excerpts from a statement released by the Senior Vice President and General Manager of Crypto.com for North America, Joe Anzures, Crypto.com Visa cards remain the number one cash-back rewards crypto card in the market. The partnership with the digital advertising platform, Cardlytics will increase benefits for cardholders.

The Executive Vice President, Financial Institutions of Cardlytics, Farrell Hudzik, pointed out that providing meaningful rewards to the customers of Crypto.com brings them great excitement.

He further added that Cardlytics is thrilled to be a part of providing benefits to an emerging market filled with several hidden opportunities.  
Overall, this reward program will play an invaluable role in driving cryptocurrency adoption in the US.

Since the Crypto.com card is the first powered Visa crypto card, new benefits will unlock the potential of cryptocurrencies for residents in the world's financial capital. 

## What is Crypto.com Card?

Crypto.com card was first introduced in 2018 to allow crypto lovers to top up their cards with crypto and get up to 8% back on spending.
Crypto.com's Rewards Visa prepaid card is a series of cards that gives you more benefits depending on how much money you stake.
The card comes in tiers. The lowest is the Midnight Blue, followed by Ruby Steel, Jade Green/Royal Indigo, Frosted Rose Gold/Icy White, and 
Obsidian.

Every card comes with a staking requirement. Midnight Blue card users do not have to stake any amount. Ruby Steel cardholders must stake $400, and $4,000 is the minimum staking requirement for Jade Green/Royal Indigo holders.

If you want to be a Frosted Rose Gold/Icy White or Obsidian cardholder, you should be prepared to stake $40,000 and $400,000 respectively.
Crypto.com was founded in 2016. The platform is among the most prominent exchanges by trading volume. Crypto.com supports more than 140 cryptocurrencies and more than 200 markets and is accessed by residents in more than 90 countries.

### Conclusion

In addition to this, Crypto.com has one of the lowest trading fees in the space, is easy to use, secure, and has three-way accessibility (The Worldwide Web and apps on Android and iOS-powered smart devices).

More [Business news](/news/category/crypto-business-news).
 


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