Crypto.com: Fiat Withdrawals Available with TUSD and PAX; Elrond, Zilliqa, Tezos, Stratis, DAI Listings; Earn 8% p.a. on BAT, LINK, DAI, MKR; Additional Security Measures
Biweekly update 9th August — 23d August
Hi, everyone. Greet our latest update on Crypto.com, the pioneering payments, and the cryptocurrency platform. We feel a strong urge to show you everything we found in the last two weeks. Let’s begin!
First, we wish to express our thankfulness on possibility to withdraw offered by Crypto.com. So, stablecoin partners facilitate fund transfers to personal bank accounts easily. Users can now withdraw funds by redeeming stablecoins against USD via the TrustToken or Paxos Standard platform. In our vision, the opportunity to withdraw fiat to bank account is one of the most attractive thing the cryptoproject can offer.
Second, the tech team improved Crypto.com’s security and make it better. On August 21, 2019, the team announced a range of enhanced security measures including Two Factor Authentication (2FA) for certain transactions, insurance of digital assets, and launch of a new Security Page that outlines its commitment to maintaining industry-leading security standards.
Third, the Crypto.com team lists a lot of tokens, as follows: Elrond, Zilliqa, Tezos, Stratis, DAI. So, now everyone is able to purchase these tokens via bank account or credit/debit card with lowest fees. We bieleve that it would improve the attraction of Crypto.com and more users will regard this App as main wallet to buy, hold and sell cryptocurrencies.
To conclude, this company shows a great result. In our point, Crypto.com continually published its updates and is keen on its roadmap. Furthermore, as we can see, the team aims at customer engagement and business development.
Development
Additional Security Measures — 2FA and Insurance on Crypto Assets
New security web page outlines commitment to customers
On August 21, 2019, Crypto.com announces a range of enhanced security measures including Two Factor Authentication (2FA) for certain transactions, insurance of digital assets, and launch of a new Security Page https://crypto.com/en/security that outlines its commitment to maintaining industry-leading security standards.
- Two Factor Authentication:
Two Factor Authentication (2FA) is now available in the Crypto.com mobile app. The implementation of 2FA provides Crypto.com’s app users with an additional layer of security providing options to enable 2FA for sending and withdrawal of crypto, as well as wallet address whitelisting. Additionally, users’ 2FA tokens will automatically sync to any new device they authorize. And, if a device is lost, stolen, or retired, users can deauthorize it from any authorized device. For more information about 2FA, here. Crypto.com will continue to update 2FA and more granular features will be released in the near future.
- Crypto Asset Insurance:
Crypto.com has secured coverage for up to US$100 million in insurance for digital assets in cold storage from a global leader in protecting customers’ assets to safeguard against theft or direct loss. 100% of Crypto.com customer’s digital assets are stored in cold storage.
- Security Page:
Crypto.com is launching a new comprehensive information webpage to provide details on the company’s security measures. Security is a key differentiator in financial services and Crypto.com will seek to be a leader in providing a higher standard of security measures in order to provide users peace of mind that their funds are safe with Crypto.com.
Crypto.com has continuously improved its security measures since the company’s inception. Crypto.com is one of the first cryptocurrency companies in the world and the first cryptocurrency wallet application, to achieve the coveted ISO/IEC 27001:2013 certification.
Finance
Fiat Withdrawals Available with TUSD and PAX
Users can now withdraw funds by redeeming stablecoins against USD via the TrustToken or Paxos Standard platform.
- How to withdraw fiat with TrustToken (TUSD)?
- Sign up for an account here by submitting your email and required documents, and allow 3–4 days for review.
- After your account is set up, visit the TrustToken site to input your bank info and get your unique redemption address.
- Send TUSD (a minimum of $1,000) from the Crypto.com App to your unique redemption address.
4. TrustToken’s banking partner will issue a wire to your bank account (within 1 business day).
- How to withdraw fiat with Paxos Standard (PAX)?
- Sign up for an account here.
- Fill in your details (see here for guidance), and allow 1–3 business days for review.
- Once your account is created, deposit PAX from your Crypto.com App.
- Once done, search for the “Transfer” button on the Paxos site for the USD fund withdraw function. You can then send USD to your bank account by inputting your bank details.
Notes and disclaimer:
- TrustToken does not charge fees for redemptions. However, domestic fees and international transmittance fees may apply.
- Paxos Standard charges no fees, however, customer banks may charge a fee for initiating/receiving a wire deposit. There are no minimum limits for PAX to USD redemptions.
- THE STABLE COINS AND USD REDEMPTION IS HANDLED AND PROCESSED BYTRUSTTOKEN OR PAXOS STANDARD, CRYPTO.COM IS NOT RESPONSIBLE OR LIABLE FOR ANY DISPUTE ARISE FROM SUCH ARRANGEMENT.
New Listings
Note: All the below tokens are not available for Crypto.com App users in the U.S.
- Elrond ERD — August 13, 2019
About Elrond
Elrond is a high-throughput public blockchain aimed at providing security, efficiency, scalability, and interoperability via Adaptive State Sharding and a Secure Proof of Stake consensus mechanism. To achieve this, Elrond relies on two building blocks; 1) A genuine Adaptive State Sharding approach: effectively partitioning the chain state into multiple shards, handled in parallel by different participating validators; 2) Secure Proof of Stake consensus mechanism: an improved variation of Proof of Stake (PoS) that ensures long term security and distributed fairness, while eliminating the need for energy-intensive PoW algorithms. Elrond has also been designed to be EVM and Ewasm compliant, supporting multiple smart contract languages and formal verification. For more information, please visit: www.elrond.com.
- Zilliqa’s ZIL — August 14, 2019
About Zilliqa
Zilliqa is a high-throughput public blockchain platform that aims to make decentralised blockchains the building block of future enterprises and applications. Developed through academic research and helmed by a team of experienced scientists, engineers, venture creators and leaders in the financial services, Zilliqa addresses limitations in scalability and security, enabling real-world usability across a variety of industries, including finance, digital advertising, and gaming. In 2019, Zilliqa became the first public blockchain platform to be built on sharded architecture, with smart contracts written in the platform’s secure-by-design programming language, Scilla. For more information, visit: www.zilliqa.com.
- Tezos’ XTZ — August 15, 2019
About Tezos
Tezos is an open-source platform for assets and applications. It is designed to provide the safety and code correctness required for assets and other high-value use cases. Its native smart contract language, Michelson, facilitates formal verification. Formal verification mathematically proves the correctness of the code governing transactions and secure smart contracts. Tezos aims to transfer the decision-making process to stakeholders by giving them voting rights to protocol updates and governing the platform. The On-chain governance allows developers to submit proposals for protocol upgrades, stakeholders will have the right to approve and authorize the protocol updates in the platform. For more information, please visit: www.tezos.com.
- Stratis’ STRAT — August 22, 2019
About Stratis
Stratis is an enterprise-grade Blockchain development platform that offers end-to-end solutions for development, testing, and deployment of native C# blockchain and decentralized applications (dApps) on the .NET framework. Stratis is a worldwide operating company, formed by a distributed team of business managers, developers, consultants, marketing and sales expert to solve the challenges of enterprise blockchain development and implementation on a global scale. Stratis is headquartered in the U.K. and incorporated as Stratis Group Ltd. For more information, visit: www.stratisplatform.com.
- DAI’s DAI — August 20, 2019
About MakerDAO
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the U.S. Dollar. Maker enables anyone to leverage their Ethereum assets to generate Dai on the Maker Platform. Once generated, Dai can be used in the same manner as any other cryptocurrency: it can be freely sent to others, used as payments for goods and services, or held as long term savings. Founded in 2014, the company is headquartered in Santa Cruz, California. For more information, visit: www.makerdao.com/en/dai.
Earn 8% p.a. on BAT, LINK, DAI, MKR
Crypto.com Launches “Pay Your Friends” to Replace Venmo With Crypto
Pay back your friends in crypto and earn $50 and up to 10% rewards
Crypto.com’s vision is cryptocurrency in every wallet. We’re committed to building products that increase the adoption of cryptocurrency globally. The team has launched “Pay Your Friends” — a product that allows you to pay back your friends in crypto and earn rewards by doing so.
There are two primary use cases here:
- Paying friends back in any cryptocurrency instantly & for free — if your friends are not on Crypto.com platform yet, you will receive US$50 when they stake 50 MCO or more (metal MCO Visa Card reservation). There are no limits to this reward
- Paying friends back in CRO tokens — you will be rewarded with up to 10% cashback on that transaction; this works for both new & existing users, so we’re currently limiting the total cashback to US$5 per user per month.
What Crypto.com wants to achieve with “Pay Your Friends” is to give its users a reason to bring all their friends into cryptocurrency. The user experience is instantaneous & free — the more users get a chance to experience it, the closer Crypto.com gets to global adoption.
Next time you need to pay your friend back, do it in crypto and help to change the world.
Roadmap
Social media metrics
Social media activity:
Social media dynamics:
The graph above shows the dynamics of changes in the number of Crypto.com Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.
