I have some crypto on their app in Aus but they have recently changed terms twice and you have to agree before having access to your coins. I staked cro for enjin so will publish the returns. The big problem is any fiat transfers take way too long, 5 days they say, also when you transfer coins over you have to convert them to either cro , bitcoin or 3 maybe 4 others costing you twice. I was going to order the card but have decided against it. Customer support is awful
My experience with customer support has been nothing but fantastic so I am sorry to hear your experience has been different. Fiat deposits are instant if you use NPP, so I'm not sure where you are getting the 5 days from? Why would you convert your coins to transfer them to Crypto.com? Any supported coins can be transferred directly. It's only unsupported coins that you would need to transfer into something else. Am I misunderstanding what you are saynig here? This is the same with any crypto platform?
What’s your experience like with this app in Australia? I want to get into it but I’m sceptical after reading reviews about it. (Mainly the poor customer support)
Ignore the customer support reviews. Crypto.com has upped their game significantly in support, usually responding within a few hours. More complex requests do take longer though. Most of the bad reviews are from people who don't read the instructions and then do something wrong, make a mess of things and it is then a complex resolution that takes time. Or, they don't read the instructions and then ask support for help instead, and so it is a low priority support request that is just clogging the system and could have been avoided if the user just read the instructions. My personal experience with the app has been great. I've never had customer support take more than 6 hours to respond and it's been even less the last month or so since they started putting more effort into improving that area. I find the app itself is relatively easy to use and does a great job of simplifying the crypto onboarding process. There is some terminology that is a little confusing. Eg, NPP for bank transfers in Aus. NPP is an acronym for the New Payments Platform used by Australian banks and it encompasses Osko and PayID. The banks all promote it using the PayID/Osko names so as customers we rarely hear it called NPP. NPP is the accurate term, but it's a little confusing since it's not what the banks use in marketing. There is also a lot in the app and multiple ways to reach the same end (usually), which can add a little more confusion, but considering just how much it does incorporate, it's a great place to start with Crypto, and with Crypto interest (eg the Crypto Earn rates on Bitcoin and Ethereum are on par, if not better than many other leading earning platforms like Celsius, BlockFi and Nexo - though it is lower on most other coins). I personally use the Crypto.com App for buying in AUD and predominately for BTC, ETH and CRO. I use the Crypto.com Exchange for trading some other coins, to get supercharger rewards, and to participate in the Syndicate deals. Otherwise, I mostly use Binance for trading. I've also been exploring Swyftx lately and quite like it! I've got referral links for all of the above if you happen to want any of them. In either case, I hope that helps!
I will also add that the Visa card is not the simplest thing to use in Aus. It's a combination of it being a Singapore issued card denominated in SGD and the process of topping up is not as simple as it could be either. Minor complaints, but the combo seems to trip up a lot of people and if you aren't careful, the SGD base currency can cost you more than the card is worth.
I can't say for sure, but my suspicion is yes as Crypto.com has recently bought an Australian company that has an Australian Financial Services license and last week the T&C's were changed for AU users to be with the Australian entity instead of the Singapore one.
I put my $50 bonus into supercharge, just to see how it worked and how much return I get. Did you work out the return you got on the previous dot supercharge? Do you think it was worthwhile?
Not financial advice. Sure, my APY on DOT worked out to be about 4.5%. The next one, BTC, worked out at 2.89%. ZIL was 3.03%. NEAR was 3.01% and DOGE was 3.07%. It depends on the total reward supply, how many people are participating and how much CRO they put in. The more CRO, the lower the APY will be. In turn, a larger reward amount will get a higher return for the same amount of invested CRO than a smaller reward amount. I missed the first supercharger, which was UNI. It had a supply of USD $500,000 and returned an APY of 14.45%. All of the subsequent superchargers had a supply of USD $250,000 and have seen an increase in demand (eg more CRO invested). The current ENJ supercharger has also seen an increase in demand (there is more CRO deposited than in any previous supercharger), however, it has a substantially bigger supply available of USD $2,000,000. So currently, it is looking to be quite good from a return perspective. I think the question about worthwhileness depends on your goals. Right now, while I do have ENJ, I want more CRO and want to leverage the high APY for staking on the Crypto.com defi wallet while it's there. Currently, it's getting around 16%, so most of my unstaked CRO is there. I want to have enough CRO by the time the defi staking APY drops below 10% that I have enough CRO to upgrade to a Indigo/Jade card (they earn 10% on the staked amount). However, I am also all for getting the best value. So now that the CRO APY on the defi wallet is very similar to the current supercharger reward, I've been leaving more of my newly bought CRO in the app and depositing them into the supercharger instead. If the supercharger drops substantially, I'll move it to the defi wallet and stake it there, but for now, I am happy with it this way. I definitely think the Superchargers are worth utilising, especially for smaller more flexible deposits. However, you are getting a different coin in return, which may or may not be much use to you, depending on your goals.
I have some crypto on their app in Aus but they have recently changed terms twice and you have to agree before having access to your coins. I staked cro for enjin so will publish the returns. The big problem is any fiat transfers take way too long, 5 days they say, also when you transfer coins over you have to convert them to either cro , bitcoin or 3 maybe 4 others costing you twice. I was going to order the card but have decided against it. Customer support is awful
My experience with customer support has been nothing but fantastic so I am sorry to hear your experience has been different. Fiat deposits are instant if you use NPP, so I'm not sure where you are getting the 5 days from? Why would you convert your coins to transfer them to Crypto.com? Any supported coins can be transferred directly. It's only unsupported coins that you would need to transfer into something else. Am I misunderstanding what you are saynig here? This is the same with any crypto platform?
Thanks bro
Any time
What’s your experience like with this app in Australia? I want to get into it but I’m sceptical after reading reviews about it. (Mainly the poor customer support)
Ignore the customer support reviews. Crypto.com has upped their game significantly in support, usually responding within a few hours. More complex requests do take longer though. Most of the bad reviews are from people who don't read the instructions and then do something wrong, make a mess of things and it is then a complex resolution that takes time. Or, they don't read the instructions and then ask support for help instead, and so it is a low priority support request that is just clogging the system and could have been avoided if the user just read the instructions. My personal experience with the app has been great. I've never had customer support take more than 6 hours to respond and it's been even less the last month or so since they started putting more effort into improving that area. I find the app itself is relatively easy to use and does a great job of simplifying the crypto onboarding process. There is some terminology that is a little confusing. Eg, NPP for bank transfers in Aus. NPP is an acronym for the New Payments Platform used by Australian banks and it encompasses Osko and PayID. The banks all promote it using the PayID/Osko names so as customers we rarely hear it called NPP. NPP is the accurate term, but it's a little confusing since it's not what the banks use in marketing. There is also a lot in the app and multiple ways to reach the same end (usually), which can add a little more confusion, but considering just how much it does incorporate, it's a great place to start with Crypto, and with Crypto interest (eg the Crypto Earn rates on Bitcoin and Ethereum are on par, if not better than many other leading earning platforms like Celsius, BlockFi and Nexo - though it is lower on most other coins). I personally use the Crypto.com App for buying in AUD and predominately for BTC, ETH and CRO. I use the Crypto.com Exchange for trading some other coins, to get supercharger rewards, and to participate in the Syndicate deals. Otherwise, I mostly use Binance for trading. I've also been exploring Swyftx lately and quite like it! I've got referral links for all of the above if you happen to want any of them. In either case, I hope that helps!
I will also add that the Visa card is not the simplest thing to use in Aus. It's a combination of it being a Singapore issued card denominated in SGD and the process of topping up is not as simple as it could be either. Minor complaints, but the combo seems to trip up a lot of people and if you aren't careful, the SGD base currency can cost you more than the card is worth.
@@matttalkscrypto is an Australian issued Visa card in the works?
I can't say for sure, but my suspicion is yes as Crypto.com has recently bought an Australian company that has an Australian Financial Services license and last week the T&C's were changed for AU users to be with the Australian entity instead of the Singapore one.
I put my $50 bonus into supercharge, just to see how it worked and how much return I get. Did you work out the return you got on the previous dot supercharge? Do you think it was worthwhile?
Not financial advice. Sure, my APY on DOT worked out to be about 4.5%. The next one, BTC, worked out at 2.89%. ZIL was 3.03%. NEAR was 3.01% and DOGE was 3.07%. It depends on the total reward supply, how many people are participating and how much CRO they put in. The more CRO, the lower the APY will be. In turn, a larger reward amount will get a higher return for the same amount of invested CRO than a smaller reward amount. I missed the first supercharger, which was UNI. It had a supply of USD $500,000 and returned an APY of 14.45%. All of the subsequent superchargers had a supply of USD $250,000 and have seen an increase in demand (eg more CRO invested). The current ENJ supercharger has also seen an increase in demand (there is more CRO deposited than in any previous supercharger), however, it has a substantially bigger supply available of USD $2,000,000. So currently, it is looking to be quite good from a return perspective.
I think the question about worthwhileness depends on your goals. Right now, while I do have ENJ, I want more CRO and want to leverage the high APY for staking on the Crypto.com defi wallet while it's there. Currently, it's getting around 16%, so most of my unstaked CRO is there. I want to have enough CRO by the time the defi staking APY drops below 10% that I have enough CRO to upgrade to a Indigo/Jade card (they earn 10% on the staked amount). However, I am also all for getting the best value. So now that the CRO APY on the defi wallet is very similar to the current supercharger reward, I've been leaving more of my newly bought CRO in the app and depositing them into the supercharger instead. If the supercharger drops substantially, I'll move it to the defi wallet and stake it there, but for now, I am happy with it this way. I definitely think the Superchargers are worth utilising, especially for smaller more flexible deposits. However, you are getting a different coin in return, which may or may not be much use to you, depending on your goals.