What is Cardholder CRO Staking, and how is it different from CRO Lockup?
Cardholder CRO Staking gives you various benefits for your crypto card, crypto wallet, and Crypto Earn. See the ‘Cardholder CRO Staking Benefits' section below for more details. Cardholder CRO Staking replaces CRO Lockup from January 15, 2024, 03:00 UTC, for eligible users (see section directly below for details). Under Cardholder CRO Staking, your CRO is stored on the blockchain, and you participate in the security of the underlying blockchain (learn more in a university article). Support reward rates depend on the blockchain and may vary. Rewards are paid weekly to your CRO card, which makes up your returns. The process of locking and evacuating requires a period of operation and separation, respectively. CRO Lockup allows you to enjoy the same benefits of Crypto.com card, wallet, and Crypto Earn as Cardholder CRO Staking. However, since your CRO is not maintained on the blockchain, the reward rates are determined by Crypto.com based on market conditions. In addition, the rewards are not complicated.
Who is eligible to participate in Cardholder CRO Staking?
From January 15, 2024, 03:00 UTC, all cardholders in the following locations are not eligible to participate in the Cardholder CRO Staking.
- Canada: CA/CAN
- Guam: GU/GUM
- Hong Kong: HK/HKG
- Singapore: SG/SGP
- Puerto Rico: PR/PRI
- South Korea: KR / KOR
- United States: US / USA
- U.S. Pristine Islands: VI / VIR
Cardholders at these specific locations are eligible for CRO Lockup. See here for more details on CRO Lockup. Users with existing CRO Lockup who are eligible to participate in the Cardholder CRO Staking must accept the Cardholder CRO Staking Terms of Service on the Crypto.com App by January 15, 2024, 03:00 UTC, or by the end of their CRO Lockup staking period, whichever comes first. Users entering a new CRO staking before January 15, 2024, 03:00 UTC, must accept the Cardholder CRO Staking Terms of Service in the Crypto.com app to participate in the Cardholder CRO Staking until the end of their CRO Lockup staking stake.
Can I keep my CRO Lockup even if I'm eligible for a CRO Staking Cardholder?
Users with an existing CRO Lockup who are eligible for a Cardholder CRO Staking and who have accepted the Cardholder CRO Staking Terms of Service will automatically make their CRO Lockup a Cardholder CRO Staking by January 15, 2024, 03:00 UTC, or by the end of their CRO Lockup staking period, whichever comes first. If you don't accept the terms by then, your CRO Lockup will remain the same. However, you will no longer earn weekly rewards from CRO Lockup. You will still be able to enjoy the benefits of your card.
Do I need to purchase more CRO to keep my current card level under Cardholder CRO Staking?
Users with an existing CRO Lockup who are eligible for a Cardholder CRO Staking and have accepted the Terms of Service will receive an automatic conversion of each of their CRO Lockup to a Cardholder CRO Staking by January 15, 2024, 03:00 UTC, or by the end of their CRO Lockup holding period, whichever comes first. For example, if you have 4,000 CRO in the CRO Lockup and you enjoy Jade Green Card benefits on 15 January 2024, you will receive 4,000 CRO Stake Cardholder after conversion. In addition, you will continue to enjoy Jade Green Card Cardholder CRO Staking benefits.
Cardholder CRO Staking Benefits
Cardholder CRO Staking in the Crypto.com app will give you the following benefits:
- Order one of the Crypto.com Metal Cards
- Enjoy Crypto Wallet benefits, for example: cashback on purchases, additional spending rewards for your card
- Higher Rates for Crypto Earn
In addition, these are the changes that will take effect when Cardholder CRO Staking replaces CRO Lockup on January 15, 2024, 03:00 UTC. For users who go past the 180-day waiting period under CRO Lockup, the changes will take effect after your hold period. Please note that acceptance of the Cardholder CRO Staking Terms of Service is a requirement to participate in Cardholder CRO Staking.
How do I know if my CRO is staking?
To view the status of your Stake CRO Cardholder, go to your CRO wallet and scroll down to view your transaction history. Here's what each staking mode means:
- Waiting: Your staking request has been accepted by Crypto.com.
- In Progress: Crypto.com has received your staking request and your assets will be maintained soon. The state of in the process will remain until your assets are maintained on the blockchain.
- Supported: Your assets are successfully staked and they will start generating rewards. This is the final stage of your staking deal.
How to Increase Cardholder CRO Staking Amount (Upgrade)?
Yes. During the initial 180-day staking period, you can increase the amount of supported CRO by going to your CRO wallet in the app and clicking the ‘Upgrade' button. You will be asked to add the difference between the existing steak and the one you are upgrading to. For example, if you have a 2,000 CRO steak and want to increase the amount to 20,000 CRO, you need to add 18,000 CRO. The new steak will start the countdown, and a holding period of another 180 days will begin. Note: If you upgrade your card on or after January 15, 2024, 03:00 UTC, you will be prompted, regardless of whether your current lock-up period continues, to accept the Cardholder CRO Staking Terms of Service. Your CRO Lockup period will be replaced by Cardholder CRO Staking and is subject to an additional 180-day holding period.
How do I know if my CRO is not supported?
To view the status of your Cardholder CRO Unstake, go to your CRO wallet and scroll down to view your transaction history. Here's what each non-staking mode means:
- Processor: Your request for non-staking has been accepted by Crypto.com.
- Unbonding: Your steak goes through a separation process. The time required for a break depends on the network and is beyond the control of Crypto.com.
- Unsupported: Your assets have been deleted from the stake and they have been returned to your Crypto wallet.
