Earn Plus - An Incentive Program from Crypto.com

What happens when the corporates run out of the incoming cashflow? They create a program where they bring the loyalty and make other people bring in the revenue. And then use the pool fund to rotate the loyalty points.

This is what was done by the Uphold, Brave browser and even the Binance. And now the same is being done by the crypto.com. They are doing the new program called the "Earn Plus". This program is going to be used for bringing more people to hold assets in their system.

How does the Earn Plus Works

Currently the crypto.com is in process of bringing the PYUSD and the USDC reward structure in place. Here you would be making the coin rewards through the options that are being offered to you. Like binance has the reward structure for your funds being kept there.

Nothing new here just the allocation size and the reward percentage that would be getting added. If you think the things are good enough on the percentage size and also you want something for each coin in the portfolio and for the earn plus that applies.

What it means for Accounts

I am not into the centralized banks like excahngs. But the way coins and the rewards structure happens. And also the KYC system is being forced on us. We can say that it means each account has to think of the plans like earn plus for keeping funds.

It never goes good. We have already seen the downfall of the celsius and the nexo. And we know that the percentage of returns on the crypto is kind of fake and we should never trust the same. We should instead spent on the accounts that are independent and not centralized in the exchange.

Lesson from FTX and Celsius : Never keep the hard earned money into any such loyalty and the reward programs. Instead make sure to keep the funds into some sort of the DeFi and that too with proper learning there.

Should you get the Earn Plus if you have the Crypto.com account? I don't think so. Instead I feel like these things are going to be costing us some risk of loss and also we have to plan for the exit in case if such places collapse like FTX.

Posted Using LeoFinance Alpha