Did Crypto.com listen to its users' anger? Or was it planned?

5 mo
LeoFinance
1 Min Read
296 words

Hi HODLers and Crypto.com users,

A few days ago I mentioned how Crypto.com pulled another trick on its users and lowered basically most of the advantages of holding CRO or having their debit card. As I also stated, I was not even suprised as they did the same thing a while back with their previous token MCO.

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Image Source (outdated I guess!)

Here is the link to my last blog on the subject: Crypto.com rugpulled its users... Once again!

What did they rollback?

First of all, let me say that I believe these concessions were planned in advance and they expected users' backlash and therefore to have to give us a little bit.

They had done the exact same thing when they moved from MCO tokens to CRO. First being outrageous in their "exchange rate" and then making it less bad (but still bad).

I received the following information in 2 separate emails:

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Summary

  • Ruby Steel (with an active stake) will give 1% cashback
  • Royal Indigo / Jade Green will give back 2% cashback

Then instead of cutting off all users from the CRO Staking Rewards, they made it so:

  • Obsidian, Icy White or Frosted Rose Gold Card will have 8%
  • Jade Green or Royal Indigo cardholders will have 4%

These rates will only last for the next 180 days though.

So they make it just a bit better so people would think it is actually not that bad. Human Psychology I guess.

Stay safe out there,

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Latest Analysis

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i am out of that!

0

Good decision. Fool me once shame on you! For me twice shame on me!

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1

Very wise saying)

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I feel like it was a planned way to get some attention back to the rewards while also lowering them to be more profitable. Fuck them.

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I knew we would see eye to eye 😉. Fuck them indeed!

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That's the same plan a lot of companies everywhere use ain't it? Even restaurants do that with the quality of their food at first... but yeah, fuck them for sure!

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It is! I guess at least they ease you into getting fucked. lol

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Haha yes, they do. Mist jave something to do with the kind of lube they use!

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0

They lost me as a consumer. Gonna start getting 4% with Coinbase Card vs dealing with the now 1% rewards for Ruby Steel.

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I thought that the 90s were over and the street scammers disappeared, but they transformed, made an upgrade and began to call themselves not scammers, but more majestic names)

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0

OK...not sure how that applies here.

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You don't know what's behind the rate cut. Perhaps they evaluate the reaction of investors, later, they will lower it even lower, if investors swallow it, they will not stop there.

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0

That seems more on the level than them being scammers.
They reduce a free service vs taking something from investors or dumping the project.
Sure both fruit here in the crypto world, but apples and oranges. IMO

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Wait, so how do these things work...? These cards work just like a bank debit card? You hold crypto on Coinbase or whatever and that's it?

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5 mo (edited)

They still work as they have been, but the rewards have been reduced across the board. I do not see that you have to hold $ on Coinbase to do it.

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So more so like a credit card then?

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Pre-paid debit card like CRO, but you don't have to STAKE* anything on CoinBase like with CRO app.
Should have said stake.

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Ok yeah got you. I just never looked into it. I can research it, and make a decision for sure, but thanks for letting me ask these silly questions.

Been in the world of non KYC for a while now, diving deep so I've over looked the advancement of the centralized exchanges and such.

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No fan of KYC either. But I won't be making any serious capital gains on CB for "tax purposes"

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Nice, I won't either. It's probably a good idea to have one of their cards.

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4% with Coinbase card!? Well I haven’t seen this. I have to check it out. Yup ruby at 1% is quite low.

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What I bummer on CRO card, but ya Coinbase has 4% and I'm looking forward to it. My CRO stake is down over 25% because of them shooting themselves in the foot, and def not getting my full $400 back.

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I need to check that Coinbase 4% Cashback! It seems so HIGH!

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Nice post. Thanks for sharing.
!1UP
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You are more than welcome! Thanks for curating it

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5 mo (edited)

https://twitter.com/LeoAlpha2021/status/1522464178786963456
https://twitter.com/VinnieLemon/status/1522769443520061441
The rewards earned on this comment will go directly to the person sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.

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What were Ruby, Indigo/Jade Green before May 1st?

Getting one of these cards has been on my "todo" list for ages but I won't bother now.

!PIZZA

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A good deed is a forgotten deed).

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PIZZA!

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0

Just watch them slowly drop it over time to reduce the outrage. In a few years, not very many people will remember or complain as much.

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Time heals...it works both ways...both investors and scammers.

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I believe you are right my friend. I am probably going to sell my stake once it unlocks.

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The rewards are still less than those offered now, with some users still expressing dismay. Crypto.com however, noted the changes were necessary to ensure “long-term sustainability” of the yields offered on its card product.

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I think it was written in their roadmap, which they did not publish)

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I do agree that their system was unstainable from the start but changing such important features one day to the next is not okay.

Especially when you did it once before with MCO token.

Well, 1% for the ruby card is useless, I will find better options hehe 😉

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Exactly! Talk about a so red flag !!

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I do agree that their system was unstainable from the start but changing such important features one day to the next is not okay.

Especially when you did it once before with MCO token.

Well, 1% for the ruby card is useless, I will find better options hehe 😉

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0

The initial offers are always lucrative to attract customers. Once they are in a habit of using this card, they won't go anywhere apart from a few. But for long-term customers, crypto.com needs to keep coming up with more offers and reward schemes. Otherwise they will be gone.

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The fish swallowed the hook, fell off, and lives with it, because it still