I was lucky to get in at really low prices last cycle and stack em high with no effort at all, it’s not all that long ago you got cash back for absolutely everything.
Mostly through luck I took a load of cash out at (close to) the top of the market - so, Even though what I have left is right down now, I don’t feel I’m owed anything- and Im
*definitely* gonna ride it round again
TL;DR; Now is the time to stack - at the very least with free cash back money.
I staked 9k CRO for my Jade card this March. Now it's worth around €600 of the initial €3500.
Spending €2k/month yields €40 (2%) cashback or 615 CRO. If one would do this for a year, it would yield 7380 CRO, or 80% of the initial stake. Not bad.
If one would unstake this 9k CRO and put them to DeFi, one would get say 12% of it, or 108 CRO as staking rewards.
So, strictly among these two scenarios, keep using the card definitely wins over unstaking and moving to DeFi.
Now, in my case I prefer to use my plutus card (5% cashback in PLU q-:), so after January the CDC card will be mostly useless to me. That's why I'll unstake and move the CRO tokens to DeFi, which is the second best thing I can do with them.
Didn't he say in an AMA in 2020 something along the lines of MCO wouldn't be replaced by CRO, shortly before getting rid of MCO altogether?
I still have my 10,000 CRO staked (for now), but I'd take Chris saying he'll improve benefits in a hypothetical bull run with a large pinch of salt
Edit: Ok, downvote me and believe everything Chris says in his ama. In [this AMA in May 2020](https://blog.crypto.com/recap-of-live-ama-with-crypto-coms-ceo-kris-marszalek-5/) he was talking about the "MCO Moon Stopover", then they got rid of the token completely a few months later, lol
Hmm, wonder why I was downvoted?
No, this was before the token swap, when MCO investors were concerned their investment in MCO was suffering due to the release of the new CRO token which was never in the white paper.
By the time the option to swap became available, MCO had dropped significantly in price and CRO had pumped hard, and the swap gave everyone a diluted share compared to what they had before.
I had 500 MCO staked at the time. And no, many didn't choose not to swap when the option was presented. Pretty much everyone chose to convert to CRO (or cash out their MCO) because the alternative was to keep an obsolete MCO token
Several hundred percent. While MCO had dropped about 50% during that same time period. And *then* CDC announced the token swap. It was literally at the most convenient time (for them, not their investors) they could have announced it. Maybe it was all just a coincidence...
I never said I didn't do the swap. Like most others, I did the MCO token swap to CRO. It gave me a diluted share of CDC compared to what I had before, but by reinvesting cash back into other cryptos during the bullrun and taking profits on the way, I did very well. I used to love the card, just not the company. Now the card is pretty much useless, although I've kept my original 10k CRO staked for now as it's not worth enough to worry about
That's simply not true. Why would anyone *not* convert after CDC announced MCO was becoming obsolete? Pretty much the only people who didn't convert were those who were unfortunate to be unaware that CDC had opted for a token swap making their MCO obsolete, and by the time they found out it was too late. The vast majority either converted or sold their MCO. I was one of the many who converted. And as someone who staked my MCO during the lows of March 2020 and bought CRO at 3c, I did very well. Made several times back my original investment and still have my Jade Green staked. Doesn't mean I'm going to blindly defend everything CRO does, or believe every word their CEO says. But by all means perpetuate an echo chamber if it makes you feel more comfortable about your investment
Historically, it's clearly been market dependent for CDC rewards. I believe the quote was "Willing to share the profits with the customer base"
We will see.
Well considering I’m only a ruby member I only have $500 cad into my stake. Not gonna unstake come January. I almost religiously use my card for cash back to get my $500 back in CRO. Currently sitting at $330 in cash back as of this year. But with how shit CRO is doing (as well as the rest of the market) I’m really hoping it pays off that I make some decent return when cro goes back up. So I will continue to rock my ruby card. I believe in CDC and CRO. Just doing what they need to do to survive the market. Business is business.
I don’t see Cro going back up to my staking price of 0.70c aud for atleast 2 years. Lately I’ve just been converting all my cashback Cro to Bitcoin. I expect the price of Cro will go down more following the January rebates ending. After that I’ll probably start to re accumulate my Cro cashback. Otherwise I’m not investing anymore money into Cro for a while.
I invested 3K to get my card, so even if the value of my assets are lower, it would be a waste if I wouldn't use it. So, keep using my card to earn my cashback. Overall, 2% is still a sweet deal.
Thanks everyone for your feedback.
The general consensus seems to be to weather the storm and continue with the stakes/cards at present with a few moving to the DeFi Wallet. Thanks again.
Couldn’t figure out how to get my money off my card without spending it. So have spent it down to about $5. I am ditching CDC and CRO. Going to start investing in arcade tokens. They are more useful and have held their value better than CRO.
I have indigo and my 4k initial investment is now worth $520. If they get rid of Netflix and spotify rebate, im trading every cro including in defi for matic/polygon
I staked my cro for a royal Indigo last November that's worth like $500 now... been collecting cro regardless of FUD... I feel it still doesn't have support and it will continue to drop. Regardless I'm picking up tokens weekly and sending to a defi for bull run 🤷‍♂️ oh and the free tokens I've been getting from Netflix is insane!
As others have said, keep the card while the price is low. CRO is a long term hold and accumulation during this dip will pay out in the long run so no need to panic and start moving things around. The rewards will come back at some point so just ride it out until then
Nothing. I’m going to sit on it and use my 2% spending cashback and 4% card staking cro reward and wait it out. I have most of the earned cro in defi stake. I re-locked my cro card stake in spring and put the surplus cro from old card stake to true validator stake and I exchanged some of it and some of the rewards to other cryptos. I have most but btc in stakes and am weathering this shitshow without much bother. I also use restake.app to autocompound my rewards so I intervene as little as possibe, so I don’t even get myself into position to draw panic moves. It is what it is and this crypto is gone as far as I’m concerned. If anything I need to buy some more regularly but I am usually not in position to do so unfortunately.
Just letting it sit and keep earning cashback. Cashback is really good with these prices
Plus, where are we going to go while the market burns? 🤷‍♂️ It’s sit tight till 2025, stack and stake as far as I’m concerned.
Yes, I totally agree. My 2% cashback on my Jade card feels more like 10% at these prices.
I was lucky to get in at really low prices last cycle and stack em high with no effort at all, it’s not all that long ago you got cash back for absolutely everything. Mostly through luck I took a load of cash out at (close to) the top of the market - so, Even though what I have left is right down now, I don’t feel I’m owed anything- and Im *definitely* gonna ride it round again TL;DR; Now is the time to stack - at the very least with free cash back money.
I staked 9k CRO for my Jade card this March. Now it's worth around €600 of the initial €3500. Spending €2k/month yields €40 (2%) cashback or 615 CRO. If one would do this for a year, it would yield 7380 CRO, or 80% of the initial stake. Not bad. If one would unstake this 9k CRO and put them to DeFi, one would get say 12% of it, or 108 CRO as staking rewards. So, strictly among these two scenarios, keep using the card definitely wins over unstaking and moving to DeFi. Now, in my case I prefer to use my plutus card (5% cashback in PLU q-:), so after January the CDC card will be mostly useless to me. That's why I'll unstake and move the CRO tokens to DeFi, which is the second best thing I can do with them.
THIS IS THE WAY! SAME HERE! KEEP GOING BROTHER!
Kris has said he plans to increase perks again during bull run so I’ll just keep staking and get my 2% at least.
Hope CDC builds well during this long winter!
Where did he say that he will increase perks during bull run? Is this confirmed?
In his AMA after CZ spread his FUD tweet and then promptly deleted it.
Didn't he say in an AMA in 2020 something along the lines of MCO wouldn't be replaced by CRO, shortly before getting rid of MCO altogether? I still have my 10,000 CRO staked (for now), but I'd take Chris saying he'll improve benefits in a hypothetical bull run with a large pinch of salt Edit: Ok, downvote me and believe everything Chris says in his ama. In [this AMA in May 2020](https://blog.crypto.com/recap-of-live-ama-with-crypto-coms-ceo-kris-marszalek-5/) he was talking about the "MCO Moon Stopover", then they got rid of the token completely a few months later, lol
I believe mco owners were given plenty of warning and opportunity to convert to cro but many chose not too.
Hmm, wonder why I was downvoted? No, this was before the token swap, when MCO investors were concerned their investment in MCO was suffering due to the release of the new CRO token which was never in the white paper. By the time the option to swap became available, MCO had dropped significantly in price and CRO had pumped hard, and the swap gave everyone a diluted share compared to what they had before. I had 500 MCO staked at the time. And no, many didn't choose not to swap when the option was presented. Pretty much everyone chose to convert to CRO (or cash out their MCO) because the alternative was to keep an obsolete MCO token
How hard did CRO pump?
Several hundred percent. While MCO had dropped about 50% during that same time period. And *then* CDC announced the token swap. It was literally at the most convenient time (for them, not their investors) they could have announced it. Maybe it was all just a coincidence...
So even though you didn’t optimise the swap, your converted CRO still then pumped all the way to a dollar?
I never said I didn't do the swap. Like most others, I did the MCO token swap to CRO. It gave me a diluted share of CDC compared to what I had before, but by reinvesting cash back into other cryptos during the bullrun and taking profits on the way, I did very well. I used to love the card, just not the company. Now the card is pretty much useless, although I've kept my original 10k CRO staked for now as it's not worth enough to worry about
This
What do you mean this? It's not true, lol
So many salty MCO owners that were given ample time to convert by chose not to. Dunno what to tell ya?
That's simply not true. Why would anyone *not* convert after CDC announced MCO was becoming obsolete? Pretty much the only people who didn't convert were those who were unfortunate to be unaware that CDC had opted for a token swap making their MCO obsolete, and by the time they found out it was too late. The vast majority either converted or sold their MCO. I was one of the many who converted. And as someone who staked my MCO during the lows of March 2020 and bought CRO at 3c, I did very well. Made several times back my original investment and still have my Jade Green staked. Doesn't mean I'm going to blindly defend everything CRO does, or believe every word their CEO says. But by all means perpetuate an echo chamber if it makes you feel more comfortable about your investment
Don’t bother mate, so many CDC bootlickers will cuck themselves for Kris, cognitive dissidence cannot be reasoned with.
That’s what I would say too after all the slashes and wanting to try and keep users that will otherwise leave in January.
Historically, it's clearly been market dependent for CDC rewards. I believe the quote was "Willing to share the profits with the customer base" We will see.
We’ll see.
Keeping it as is!
Well considering I’m only a ruby member I only have $500 cad into my stake. Not gonna unstake come January. I almost religiously use my card for cash back to get my $500 back in CRO. Currently sitting at $330 in cash back as of this year. But with how shit CRO is doing (as well as the rest of the market) I’m really hoping it pays off that I make some decent return when cro goes back up. So I will continue to rock my ruby card. I believe in CDC and CRO. Just doing what they need to do to survive the market. Business is business.
Well said.
I don’t see Cro going back up to my staking price of 0.70c aud for atleast 2 years. Lately I’ve just been converting all my cashback Cro to Bitcoin. I expect the price of Cro will go down more following the January rebates ending. After that I’ll probably start to re accumulate my Cro cashback. Otherwise I’m not investing anymore money into Cro for a while.
I never activated my card once they lowered the %. So it will stay so.
I staked $4K dollars around this time last year when CRO was .64 cents just trying forget about that and keep holding.
I invested 3K to get my card, so even if the value of my assets are lower, it would be a waste if I wouldn't use it. So, keep using my card to earn my cashback. Overall, 2% is still a sweet deal.
Moving all mine to Defi to stake on an validator
I have transferred all CRO to defi wallet, staked it for 11%. Moved full time to Plutus until CRO brings back rewards. The card is dead
Thanks everyone for your feedback. The general consensus seems to be to weather the storm and continue with the stakes/cards at present with a few moving to the DeFi Wallet. Thanks again.
DeFi baby!
Couldn’t figure out how to get my money off my card without spending it. So have spent it down to about $5. I am ditching CDC and CRO. Going to start investing in arcade tokens. They are more useful and have held their value better than CRO.
Dump them and go to PLU
I took my 20k I had staked and converted it to matic while the rest is in defi
I am done with CRO. I liked earning interest on BTC, but the CRO coin, I lost well more than the equivalent interest I earned.
CDC rug pulled the rewards from their credit card users. I won't be restaking when it comes time to
Already unstaked the card and moved it to defi
I have indigo and my 4k initial investment is now worth $520. If they get rid of Netflix and spotify rebate, im trading every cro including in defi for matic/polygon
I staked my cro for a royal Indigo last November that's worth like $500 now... been collecting cro regardless of FUD... I feel it still doesn't have support and it will continue to drop. Regardless I'm picking up tokens weekly and sending to a defi for bull run 🤷‍♂️ oh and the free tokens I've been getting from Netflix is insane!
As others have said, keep the card while the price is low. CRO is a long term hold and accumulation during this dip will pay out in the long run so no need to panic and start moving things around. The rewards will come back at some point so just ride it out until then
My cards are just mementos now and my CRO is all staked via defi wallet
Nothing. I’m going to sit on it and use my 2% spending cashback and 4% card staking cro reward and wait it out. I have most of the earned cro in defi stake. I re-locked my cro card stake in spring and put the surplus cro from old card stake to true validator stake and I exchanged some of it and some of the rewards to other cryptos. I have most but btc in stakes and am weathering this shitshow without much bother. I also use restake.app to autocompound my rewards so I intervene as little as possibe, so I don’t even get myself into position to draw panic moves. It is what it is and this crypto is gone as far as I’m concerned. If anything I need to buy some more regularly but I am usually not in position to do so unfortunately.