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Why is Cryptocom Coin falling? Is the Top Crypto Exchange Failing?

 


Why is Crypto.com Coin falling?

The reason for the sharp price drop is the change in future cashback when paying with their credit cards. The owner of Crypto.com has drastically reduced cashback rates, which is why a credit card is now hardly worthwhile for investors. As a result, some are selling the Crypto.com coins because they are no longer of any personal use. You used to get 1% cashback for the free credit card. Here is a list of how many percentages you used to get before the announcement:

Crypto.com credit cards

Here you can see that 2% cashback alone could amount to a tidy sum in the long run if you use it to pay for your entire everyday life. Now, however, these rates have been screwed down extremely. Here is a new overview:

Crypto.com new cashback system

Here we can see that Crypto.com makes the free credit card useless. With this card you get 0% instead of 1%, which is absolutely useless. The Ruby Steel card has been downgraded from 2% to 0.5%, which is only a quarter of the previous percentage. The higher you go with the card, the fewer percentages are deducted on a percentage basis. However, this move by the company is extremely damaging to the Crypto.com course.

In the short term, this change caused a sharp drop in the price. One of about 33%. However, this is only short-term. In the long term, this change could reward Crypto.com Coin price. Because fewer coins are distributed, fewer coins are sold, which is why fewer and fewer coins come into circulation. So far it is not possible to say clearly how the course could continue. If investors calm down, prices could rise.


What is Crypto.com responding to the community?

The Crypto.com community has had a lot of complaints as the changes are all but good for investors. The CEO of Crypto.com then commented and wanted to accommodate the community.

Here, however, only the APY's for staking are adjusted. Small investors only get 4% and investors who have invested €35,000 or more get 8%. However, this does not change the cashback percentages, which is why the community continues to be disappointed.

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