/biz/ - Business & Finance

They removed the longer fixed stake terms and now it's just flex/1/3 months. They lowered CRO from 18% max to 6%. Stable coins are now the highest yield. Wtf?

Ah shit I’m glad I didn’t buy any CRO because I just about to jump in lmao. They just nuked all their rates what the fuck.

Had to happen eventually. Glad I got in my last stack at 18 now lol

They want people to stop using Earn and start using their Defi program.
Why would they do that?

My 10k stake still shows 16% for the Jade card. Did they cut all those rewards for new people too?

>>23257955
No, if you started staking before the adjustment your rate stays the same until the 180 days are up.

As far as I care this is kind of bullish for cro if inflation is cut. It also means that CDC thinks they can provide incentive beyond meme tier interest rates. Somewhat curious.

They are exit scamming.

Wirecard fraud. $3.5 billion missing. A dead guy. Kucoin hack.

It's been kept hush hush but those who know, have known for some time.

>>23258825
Wirecard had nothing to do with crypto.com directly you brainlet

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>>23257154
>>23257281

> oh my god how can they afford so high rewards, how can they be profitable, how they make money?
> oh no they give me less money, what a scam

>>23257257
>Stable coins are now the highest yield
why? Which explaination have you given to you?

>>23257753
>their Defi program
what's their defi program?

>>23257257
12% apy
that's hella nice, ngl

>>23258825
Think they might go legit. They were pure scam first:
https://youtu.be/RDWAO_giWxw

How low is this going to go? Fuck me this rate cut and clv pumping before buying more really ruined my morning

>>23261026
>clv
what's clv?

>>23261438
a /biz/ project but ignore it. This is a CRO thread and I'm confused. Stablecoins, BTC and ETH have higher rates with these new changes. Also they sent an email two days ago about the new rates which had CRO at 18%. What the fuck are they doing? I have seen better management from teenager-run lemon stands ffs

Why would you stake this instead of SXP? APY is like 40% on SXP and even if most of the current circulating supply gets locked in it will still be 20% or so

>>23257257
They never had longer than three months in Crypto Earn.

>>23261496
SXP has been a repeated disappointment from beginning to end. Crypto.com are 50/50 between disappointment and delivery.

I have been defending them on multiple occasions but man, cdc does its best to piss people off. In the past few months they had the forced MCO swap, the ETH glitch that made the app and exchange unusable for two days and now this rate cut. Early investors are getting fucked with these shit moves.

Staked my stinkies at 6% in the summer WTH happened?

Still liking the 12% on DAI though. Why pay the DAI loan back when you can earn real money from it?

>>23261496
It's time to give up. Nobody on earth will trust swipe for a while. I'm sorry you bought the top lad but you really should have known it was overvalued based on MCOs past performance.

I took alot of profit with my link stack on cdc earn, their jade green creditcard is in my wallet as a backup, never really thought of using it. probably too many people doing the same, so earn program is getting to expensive. Link earn apy went from 8 to 6 to 3. I’m exiting.

I'm thinking of moving my linkies to Celsius. Any experience?

>>23262985
Yes I did move some linkies there, no fixed terms just weekly gains. Works pretty good

Isn't something like Nexo better than Celsius as they are insured by Bitpay?

>>23257257
Time to jump into crypto, but not with crypto.com

Sucks, but glad my CRO Earn stakes are laddered so I can start cashing out weekly for the next month until they are all pulled. The least they can do is trot out Kris for a 30 second clip to at least acknowledge the pissed off mood of the >community. My hope is that dropping the bad surprise means they are following with a bigger positive supply to more than offset the drop. It has to be part of a bigger plan. And remember Exchange is slated to launch in the US this year. Maybe just maybe this will all tie together.

>>23263645
Supply=surprise. No more CRO supply please.

>>23263015
>no fixed terms just weekly gains
aren't you afraid of the website scamming you?

>>23257154

They realized that they need to keep some of their gibs or there will be mass CRO inflation.

This means that CRO accumulation phase is over. I hope you got your bags ready, it's time to go up.

>>23264476
sure thing buddy. No upward movement before bagholders stop dumping and definitely not before election is over

>>23257154
I posted criticism of their PR strategy (non transparent) and they banned me. Lol. I just use it for the card now and any rewards I take out immediately. They are the first mover, but won't be the last.

>>23262286
>investors
>not speculators
>being so stupid you don't know the difference
You deserve this

I personally dont give a shit. I view the interest I get on my CRO as a nice buffer for if CRO completely shits the bed some day but I knew that it wouldn't last forever.

Buy exactly how much you need for the debit card tier you want. After that immediately sell any CRO you earn for actual quality projects and earn great interest rates with earn. Sucks that the interest rate dropped but it was so unsustainable I'm honestly glad they did. There's a chance of inflation not absolutely destroying us now.

>>23264075
Always. never go in balls deep. there’s people that earned alot of money with for example Madoff, except they knew it was a ponzi all along and pulled their dicks out when they started to smell a faint whiff of shit before the boomer normies did. So you need a good nose.

>>23265130
Best thing to do is to spread out your coins over multiple services.

I like earning something so I dont go the cold storage route. I split my holdings across all of these services so if any one fails I still have most of my coins.

- BlockFi
- crypto.com
- celsius
- nexo
- ledn.io

This way you can still earn but not worry about losing your whole stack.

Hello fellows

>>23265211
I agree, and put some stablecoins to work on yearn.finance

>>23257154
I'm glad that this shitcoin has been finally kicked out of the top ten. When that happens to fucking Polkadot, too, I can finally sleep calmly at night.

>>23263581
Good point and I already have a nexo account so might as well move it there. I never knew they had interest on all holdings

>>23258825
schloppy sperged out about this shit a couple months back.
started saying that crypto.com was going to exit scam
i took all my money off the app just in case.

>>23265715
>neglects actual shitcoins like XRP, bitcoin cash and litecoin in the top 10
>gets mad over legit projects for some reason

This is how I can tell you’re a low IQ drooling brainlet that’s ngmi

>>23266449
Who tf is schloppy

>>23267140
biz oldfag

>>23265715
XRPfag gfto my /biz/

>>23267274
I thought it was some twitterfag. I think I know who you're talking about

>>23266531
Faggot, I'd put HEX over Polkacrap anytime. At least there's a legit reason for Richard Heart's cryptocurrency to be around unlike for that piece of shit that already failed before.

>>23267313
lmao I don't hold any XRP.

So how safe is Bitrue? Should I split my holdings up between it, nexo, and celsius? I probably will keep holding my cro just to see where it goes (I usually use my card for rent but since I'm getting back into churning I might just pay it off my credit cards instead) and maybe one day I can get the next tier up.

anyone here invest in any other physical assets? I have a stack of silver and gold but I also have a few whiskies I expect to see some return on

>>23265299
What's the redpill on yearn.finance? Profitable even with a low amount? Can I get interest on my stinkies? I avoided it like the plague because of all the fucks that got rug pulled last month lol

>>23257297
>18% interest locked, but your coins are locked and are about to tank 80%

>>23267997
This. Shit's down 5% already and will probably hit 0.1, and will dump even more if BTC shits the bed

>>23267997
You fucking clowns have been telling me THIS IS IT. CDC IS FUCKING FINISHED for the last year and a half. Yet here I am well into profit. My only regret is I never bought any cro because I held MCO. But it would need to drop 50 percent for me to no longer be in profit, and even then, hardly a huge loss for me.

Clearly there was more driving the price than interest because have you fucking checked the price action for the last few years? There is more utility to the token now and the pay thing isn't too bad of a bonus. I bought some gift cards and used them because the deals are great.

>>23268176
Man I can see past the steep rate cut. What pissed me off is that they sent the email AFTER this went into effect which shows lack of planning. It is also adding to the worryingly high number of strange moves by cdc lately. Anyone with some brain could see the rates being slashed.

>>23268272
Same. Their communication just keeps getting worse. But rumors of a partnership with Amazon could really fucking push this to new heights.

>>23269524
>But rumors of a partnership with Amazon could really fucking push this to new heights.
This isn't 2017 anymore m8. CDC keeps popping red flags out of nowhere and their argument of looking to expand their userbase as an excuse to fuck existing customers doesn't cut it.

Also this is only todays move and unless they do something to win back existing customers who they have been fucking over for months CRO will bleed below 0.10 and will stay there for a long time

>>23269653
Well imho the rate cut is either 1) for a reason or 2) rugpull. Better to wait and see imho

>>23269653
The first blatant red flag was their relationship with Wirecard. I'm excited to see this bullshit crash and burn in the most spectacular way.

>>23266449
shut the fuck up faggot, don’t mention that name ever again

>>23269772
>for a reason
https://twitter.com/Kris_HK/status/1316347485099499520

>>23269779
Sir, my rupees, be mindful pls

>>23267488
boomer

>>23269832
This doesn't really surprise me then. What did people fucking expect? Are we really out here complaining about a 6 percent apy when you can't even get a 2 percent apy from any bank in the fucking world?

I fucking hate these pajeets and moonboys and the yield farming scams made it ten times worse

Over to celsius it is! Or uniswap

>>23269908
I'm with you and as I said earlier anyone with a functioning brain could see it coming. I disagree with how they handled the matter. Two days ago they sent an email with their reviewed rates and cro was at 18-20% and a day later they sent a short email saying cro would top to 6% and if what twitterfags and telegram bots say is true the change was applied before the email was sent.
This happened two months after the mco swap shitshow. Around that time they raised the entry barrier for the syndicate thing by requiring a trading volume of $5k for the past 30 days (this hurts only bc I'm a poorfag but I can see past that). I suppose burgers are seething about the rates bc most of cdc's products are not available in the US

The issue I personally have with them is that I upgraded my card a month ago and it's still stuck at issued

>I fucking hate these pajeets and moonboys and the yield farming scams made it ten times worse
Me too and seeing cdc jumping on the defi hypetrain made me a bit worried. And they kept the 20% apr there so there's also that

>>23270109
>I upgraded my card a month ago and it's still stuck at issued
THE EXIT SCAM HAS BEGUN

Long as this keeps giving free netflix at the 10k CRO tier it's not bad at all.

>>23270877
>cancer post gets sacred dubs
This board is forsaken

>>23257154
I never trusted this ponzi scheme bullshit website. I would rather go with the safer alternatives like Blockfi and Celsius. Making a few hundred per month in interest off my coins. Hopefully when BTC/ETH skyrocket I can just live off my passive income.

>>23271059
What has better BTC staking rates between Blockfi and Celsius? Thinking about throwing some BTC on that shit

>>23263015
Hey friend. Are you still here? Do you have a Celsius referral?

omfg not even the worst banana republics manage it that bad. Raising or lowering ANY number that hurts the customer must be done little by little, not 75% delta in one fucking go.

>>23271839
pls this too
>>23265211
this, i love these cause I can use the money i got in crypto during bull runs

>>23271839
Yes fren, thx

https://celsiusnetwork.app.link/1603082dfa

:)

>>23272168
Rad. Enjoy some free whatever when I finally get around to it. Win win.

>>23270109
I haven’t been using CDC that long but have gotten a few of those rate update emails, relieved every time that CRO wasn’t being messed with, at least not much. Fucking hours after that last email cutting shitcoin rates we get CRO slashed massively and totally unannounced. There has to be a story to it. I’ll even buy something like a regulation compliance action that needed immediate attention, just throw us something to chew on. Can’t unstake this shit and move into stable coins fast enough desu, at least until they start talking.

Guys aren't you afraid of depositing your coins into CEXs?

>>23266407
>>23263581
Info below may be up to 6 months outdated, as my research was done early this year up until April.

I made sure their claims are legit and, let me tell you, I can only be like 95% sure. There are definitely some caveats and kinda red flags (pink?):
>I couldn't find the cold storage addresses (tho most of the money in cold storage would be held by their Insurer, BitGo/Lloyd's).
>Info on security (beyond basic info) has been hard to find on their website, though I confess it recently has gotten better.
>Their insurance doesn't cover everything, just: 1) Third-party hacks, copying, or theft of private keys, 2) insider theft or dishonest acts by BitGo employees or executives 3) Loss of keys.
>info on the company, like where it resides, was hard af to find. Answer was Switzerland.
>Info on WHERE it is regulated was also hard to find and Support was unresponsive on that. I found one is Estonia and kinda Bulgaria, but I suppose there are others. I checked it is shown on the records of Estonia.

However, I trust them the most, to be honest, because it has all the benefits of a CEX unlike Celsius. Namely, insurance, having management folks actually fighting to get regulated, and the owners & founders also owning other huge companies.

HOWEVER I can't bet my life on it. The greatest uncertainty is that the hardcore attempts at regulating backfires into lower rewards, taxes, snitching or less freedom on your coins on two (2) fronts: Your country and theirs. At the least, they are *allowed* to function in almost ALL countries in the world and even New York (which is hard as shit).

FYI, the owners are Bulgarian and iirc got some of their other large companies registered in Bulgaria. But, Nexo's address seems to be in Switzerland. We are betting, then, on Switzerland, [your nation], and maybe, just maybe, Bulgaria.

Do with this info what you will.

>>23272823
Not particularly. Regulations are too heavy, companies have to get cute if they wanna exit scam AND be compliant.

I'm afraid the days of BITCONNECCTTTTTTTTTTTTTTTTTTTTTTTTTTT are over

>>23272168
I've been thinking using nexo to split some of my holds but if you post hand with timestamp i'll use your referral bc your posts smell funneh. Between simon and jessica it's a tough call but i'll go for jessica's company if your skin tone is light enough

>>23272512
But they did say why, look at my earlier posts. To cdc what Kris said in his tweet is probably enough ro justify the cut. I'm not defending them but for the third time itt, the cut was expected, the problem is the lack of warning which implies lack of planning. I wasted some time in their tg twatter and plebbit and people are pissed but plebs will always whine.
The thing is that they have been fucking over older customers in the name of growth. For a (now ex) top 10 coin with aspirations to be a blue chip crypto company (ew) they sure as fuck don't act like one. Burgers are the most fucked from this bc afaik they don;t have access to many shitcoins available here in the ap as well as the exchange (syndicate, supercharger and defi - lmao on the last one).
>>23272823
>Im drunk

>>23273162
>Regulations are too heavy
yeah but it can lways happen