Crypto .com Supercharger App: Making Your Crypto Work For You
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!
- 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
- 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.
- Now, sit back and let your crypto get to work and earn you more!
Recent Comments
9
I had not heard about this before reading your article. Can crypto be transferred for other platforms to this one.
Yes, absolutely.
To send from Wallet (platform) A to Wallet B, all you'd need is the receiving wallet's address (which works very similarly to a bank account number). Once sent from A to B it only takes a matter of minutes for the transaction to be completed; with some cryptocurrencies, it only takes mere seconds.
Yikes! I'm adding a space between the word Crypto and .com because I don't want this post filled with links. The URL is also the company's name 😊
Thanks! I'll remember that for next time. Tricky in a case where the company name and URL are one and the same, haha.
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Hi Vickie, thanks for sharing your knowledge about supercharger app. I was not aware of this and am learning crypto by trial and error, cheers Alan
I activated supercharger in my crypto dot com account, and will try it out, cheers Alan
You're welcome 😁
They also have a handy knowledge base with plenty of useful articles!
I always think the most important things to remember are:
1. to write your wallets backup phrase down twice and store in separate, safe locations, and;
2. to never invest more than you're prepared to lose.