Crypto .com Supercharger App: Making Your Crypto Work For You

byVickieBiku

119 followers

3 years ago

Supercharger App Guide for BeginnersWhat is Crypto .com’s Supercharger?

The Supercharger is an easy to use crypto staking platform that gives verified Cypto .com users the opportunity to earn cryptocurrency rewards passively. You use crypto assets you currently own to make more crypto.

Compared to traditional fiat savings accounts or term deposits, crypto staking offers desirable rates of return, with the APY (annual percentage yield) offered on past Supercharger events ranging from 1.28% up to nearly 40%!

Now that you’re interested, how does it all work, and how can you start supercharging your crypto investments to earn staking rewards?

How Does the Supercharger Work?

The Supercharger is a form of staking that temporarily reduces token velocity by locking up utility tokens for a set period. Token velocity relates to how often tokens change hands and directly impact a token’s value (see equation below).

Average Network Value = Total Transaction Volume / Velocity

If the velocity is too high, the average network value falls. Staking combats this by rewarding token owners for holding onto them rather than spending or selling them.

Staking Stages

With Crypto .com’s Supercharger, events last up to 90 days and consist of three stages. The first is the “Charging Period”, which lasts 10, 30, or 45 days. During this time, users stake their coins and earn rewards based on their daily average share per cent.

The best part is that your staked coins aren’t locked up during this period. Instead, you’re free to stake and withdraw as you wish.

Rewards

Rewards are calculated based on how many hours each day during the Charging Period your crypto was staked. It’s then prorated based on your share of the total crypto amount staked by all participants in the Supercharger event.

Reward Acceptance

At the end of the Charging Period, the Acceptance Period begins. You’ll see how much you earned and have the chance to accept your reward. The Acceptance Period begins the day after the Charging Period ends and runs until the end of the event. Remember to log in and accept your reward before the Reward Period begins to ensure you receive your total reward allocation.

Reward Payout

The final 45 days of the event is the Reward Period, which begins one day after the Acceptance Period does. Each day during this reward distribution period, you’ll receive a portion of the total tokens you’ve earned.

You can view current and past events and full details of the three periods, including dates and how rewards are calculated on the Supercharger events page.

How to Start

Getting started is easy!

1. Either log in to your Crypto .com Exchange account and visit the Supercharger page or open the app and tap the Supercharger option on the homepage (also in the Super App Menu). If you don't yet have an account, you can register for one here: crypto.com
2. You then choose a current Supercharger event to join, decide on the amount of crypto you wish to stake (minimum 100 CRO), and click “Charge Now”. If you don't own any CRO, you can purchase some via the Supercharger page.
3. Now, sit back and let your crypto get to work and earn you more!