In September 2020, Crypto.com debuted Supercharger.
The Supercharger is a simple, versatile, and safe liquidity mining tool for the biggest frequently traded projects, and it’s accessible on the Crypto.com Exchange and Crypto.com App.
To begin earning other cryptocurrencies, just input CRO tokens into the Supercharger to begin mining tokens and collecting daily incentives.
What is Crypto.com’s Supercharger?
The Supercharger is a straightforward, flexible, and safe incentive program that lets you stake tokens (with the option to withdraw at any point) in exchange for the most popular cryptocurrency on the Crypto.com Exchange and App.
The Crypto.com Supercharger is a farming approach that resembles but is not identical to, traditional farming methods.
It’s a ridiculously simple, flexible, and safe reward platform that allows users to stake CRO tokens in exchange for popular cryptos including Bitcoin, DOT, ZIL, AXS, DOGE, SHIB, ENJ, NEAR, EFI, dYdX, HBAR, and several others.
If you possess any unlocked CRO tokens, you may use the Supercharger to gain rewards with them. This is a fantastic, flexible introduction to staking for those new to it.
With appealing APYs of up to 34%, the Supercharger payouts have varied across meme coins like SHIB to blue chips like BTC and ETH.
Some of the reward tokens have also increased significantly, such as SHIB and NEAR, which have grown by 8x and 4x since their Supercharger periods, respectively.
That’s before they came crashing down to earth obviously.
But being able to obtain access to these resources without having to pay for them directly makes it simpler to hang on to them during downturn markets, and it may also be a wonderful way to diversify your total crypto portfolio!
How does Crypto.com’s Supercharger work?
You can stake and remove as many CRO tokens (min 100) from the liquidity pool during the “Charging Period” of a Supercharger event.
The rewards you’ll receive are determined by the rewards score that you collected throughout the Charging Period.
This is based on how much CRO you’ve staked, how long you’ve staked it for, and how much you’ve staked as a portion of the entire reward pool.
Once the Charging Period ends, you’ll know how much you’ll receive during the Acceptance Period. This is where you’ll need to accept your rewards.
If you fail to accept your rewards during this period, you will not receive your allocated prize or will receive a pro-rated amount based on when you accept it.
As a result, pre-set your alerts as reminders and/or follow Crypto.com’s social media profiles and emails.
After accepting the rewards during the Acceptance Period, the Reward Period begins.
During the Reward Period, rewards are dispersed equitably daily. What this means is that the rewards from the prize pool are automatically distributed.
The rewards will be lodged into your Crypto.com App wallet throughout this period.
Then, the CRO will be immediately added for the next Supercharger event cycle if it is not removed within the specified deadline.
What’s more, it’s important to note that the Rewards Period for an event serves as the Charging Period for the next one.
Supercharges last for a certain amount of time, allowing you to stake your CRO. These time lengths might be 10 days, 30 days, or 45 days depending on Supercharger reward allocation, campaign, and other factors.
If the Supercharger length day is 30 days, your allowances will be divided into 30 equal allocations and deposited to your account every day for 30 days.
How much can I earn?
APY varies by Supercharger event, ranging from 0% to 34% APY. However, what you’ll actually receive varies on the amount of CRO, length of charging, and total pool value.
So if you want to receive the most value out of the Supercharger, you’ll have to stake a lot of CRO.
If you just have a modest amount of CRO in the Supercharger, the benefits you receive are likely to be minimal.
In various Supercharger events, I staked approximately 1,500 – 1,900 CRO and received only the following:
|Shiden Network (SDN)||0.01 SDN|
|dYdX (DYDX)||0.00 DYDX|
|Hedera Hashgraph (HBAR)||2.02 HBAR|
|Ethereum (ETH)||0.00037 ETH|
|Terra (LUNA)||0.02 LUNA|
|Bitcoin (BTC)||0.00000185 BTC|
As you can see, it’s not much, but it helps me get exposure to different altcoins.
But there are ways to increase your earnings apart from staking more CRO.
The most recent Supercharger Bitcoin event includes a 2 million US dollar allocation, and customers may now increase their returns by 10x, earning up to 52% APY.
Here’s how to make the most of your earning capabilities:
- To increase your benefits tenfold, create a Crypto.com NFT account with the same email address as your Crypto.com App or Exchange account
- Users will get a special “Supercharger 10x Booster” NFT that will double their BTC earnings by ten times, enabling them to collect up to 52% every year
- After the Charging Period, the winners’ of the Crypto.com NFT accounts will be airdropped with the special “Supercharger 10x Booster” NFT
- You may double your Bitcoin returns by tenfold if you own the NFT (up to 52% APY). After the Reward Distribution Period, they will be immediately assigned to your account
Keep track of events like these for you to maximise your Supercharger earnings.
How to use Crypto.com’s Supercharger?
Here’s how you can be part of the Supercharger Platform
- Click “Supercharger” after logging into the Crypto.com App or the Crypto.com Exchange.
- Then, before selecting Continue, select “Charge Now” and approve the Supercharger Terms & Conditions
- Choose and stake how much CRO you want, with 100 being the minimum.
- You can remove or add a new CRO at any time, and the total rewards you receive will be based on the weighted average of your new amount
- Your allocation will appear on your Supercharger page once the Charging Period is finished, and you must accept your allocation during the Acceptance Period. If you do not get a confirmation at this time, your allocations will not be delivered to your account, and you will forfeit the daily share of your reward
- The Distribution Period will begin once you confirm. And you will receive your incentives every day according to the long period
Can I withdraw my CRO from Supercharger?
Of course, you can withdraw your CRO from Supercharger.
To do so, all you have to do is go to the Supercharger page. The next line of action is to decide on how much you would want to withdraw.
Here’s the kicker: you can withdraw all $CRO if that’s what you want.
However, if you still want to be part of the Supercharger event, you must leave a minimum of 100 CRO.
The rewards you receive if you’ve staked your CRO during any Charging Period will be pro-rated and awarded to you later on.
Crypto.com Supercharger risks
When utilising Crypto.com’s Supercharger, there aren’t many risks. As a result, investing your CRO tokens in the Supercharger is a relatively safe manner of mining DeFi tokens.
The Supercharger is very safe to use, and you don’t need any prior knowledge of liquidity mining to get started. To begin mining your DeFi tokens, all you have to do is buy and stake your CRO tokens.
The following are two potential threats that I believe you may face:
- CRO’s price plummets, forcing you to lose the value of your portfolio
- In the Reward Period, the value of the DeFi token climbs, implying that you’ll receive a smaller allotment of that token
These two circumstances are extremely market-dependent, and all other users will be impacted if any of the two situations become reality.
Apart from that, if you do not collect your rewards throughout the Acceptance Period, you won’t get any rewards. If you accept your benefits after the Reward Period has begun, all awards allocated before your acceptance will be forfeited.
You don’t actually have a risk of losing money from the Crypto.com Supercharger, but rather you won’t maximise the use of your CRO tokens.
As a result, I don’t think Crypto.com’s Supercharger poses a significant danger.
How is Crypto.com’s Supercharger different from Crypto.com Earn?
You may only deposit CRO tokens into Crypto.com’s Supercharger, and you’ll get rewards according to the DeFi token available during the event.
Meanwhile, Earn on the Crypto.com App allows you to deposit a variety of currencies and earn a return based on the currency you’ve deposited.
Although, there are distinctions between these two traits.
- You participate in liquidity mining when you have to use Crypto.com Supercharger. You can only contribute CRO to the pool at the moment
- Crypto.com Earn lends out your cryptocurrency and earns income. You may loan a broad range of currencies, from Bitcoin to USDC. In exchange, you’ll be paid interest on the money you’ve loaned out
- The Supercharger uses a different currency than CRO to pay out, while Crypto.com Earn pays interest in the form of the crypto you put in
|Crypto.com Supercharger||Crypto.com Earn|
|Cryptocurrency Staked||CRO||Any supported cryptocurrencies|
|Cryptocurrency Received||Depending on the event||The cryptocurrency you staked|
|What’s it used for||Liquidity mining||Loan|
Is Crypto.com Supercharger a good investment?
Yes, but it’s not for me.
I’ve used Supercharger for very well over 6 events now, and the results have been largely encouraging.
It’s packed full of rewards and a huge chance to multiply my coin holdings.
Even though the returns are fairly low based on the amount I’ve staked, it’s an excellent strategy to gain exposure to new crypto assets before you HODL and wait to see what happens.
The deposit method for CRO tokens is straightforward and versatile, and you’ll have your tokens returned to your account in only a few clicks.
The Acceptance Period might be a headache, but if you want to optimise your profits, you should accept your prizes as soon as the time begins.
And if the cryptocurrencies I received goes to the moon, so will my overall returns.
But I’m a big believer in the Crypto.com ecosystem as it’s an amazing project, and believe that CRO will be one of the top cryptocurrencies 5-10 years down the road.
You can read why in my Crypto.com review here.
So I’ll probably put my CRO into Crypto.com Earn or their DeFi Wallet to earn more.
Interested in the Crypto.com Supercharger?
Check out the latest Crypto.com referral promotions here.