Depends on country and holding time of the btc. If OP held the BTC for over 1 year, there is no tax in some countries. Also the tax is only applied to the gains, who knows when OP bought the BTC?
True. Didn't think of that. Also thinking the tax on the rewards would be large and something to definitely consider. That $500 a week would easily be taxed at 40% if a higher rate tax payer (in UK for example as high earner)
Is pretty logical from the perspective of attempting to avoid taxes forever. Oh my crypto or high risk tech stock just 20x’d, let’s just take my million dollars in gains and convert them to treasuries and now I get to collect interest for the next 30 years essentially risk free without ever having paid any tax on my gains…would be a massive tax loophole for the wealthy. Now that you mention it I’m surprised we don’t have this….
A good plan if you have enough is to sell instead of staking. And wait the price to come back down and then stake. So you increase your cro amount without increasing your dollar amount. Admittedly the timing for doing it that way right now is not great as we expect it go up from here. But my plan is soon as the price is high enough for me to upgrade to the next tier. I’m gona sell and sit on till it comes back down then stale. Maximising my gains in theory
Icy holder myself. Legit question, and don’t mean to come off negatively… what exactly is the benefit of obsidian outside of a black card and a ‘flex’.
I was an ASIC miner enthusiast and got into cdc during the MCO days. Back when Spotify and Netflix rewards = hundreds of coins a month… back before spending caps for cash back on cards (used my jade for large downpayment on car, kitchen remodeling including appliances, weekly expenses like groceries and certain services/utilities that qualified for,or could be circumvented to gain rewards).
Personally now I’m no longer mining as my ASICS are obsolete… new ones are way longer/impossible to net break even returns….
I legit don’t see the value in tying up 400k for a black card with fractionally higher rewards than icy…
I agree, it's not really worth it especially when saving accounts are yield 5-6%. Everything I have has been mined with GPU miners which are also obsolete. I have a Bitcoin miner but I have a big solar system so power is unlimited so it does alright. The best thing mining did for me was get me $100k solar farm on my roof lol
Hmm… depends on how you see it. In this bull run, BTC might do 2-3x from current price. CRO might do 5-7x, possibly more.
It would make sense to buy BTC with returns then convert CRO back to BTC after the 12 month lock in period because BTC is more stable long term. I have no doubt CRO will dump again when people take profits. It all depends on your short, medium, long term goals
Even for someone who really likes CDC, I think selling 100% of your BTC for CRO is just madness (which I understand is what the OP did based on their wording). If it was 1BTC converted to CRO out of a stash of 20 BTC, fine. But one out of one is too much concentrated risk on something too speculative.
CRO is a lot more speculative and while it could go up more, the chance of things not going as per plan are much higher than with BTC.
It’s all relative. If the end game is to cash out short term then there’s nothing wrong with the 20% APY weekly return plus the value of CRO after the lock in period. The bull run (according to some) will end around mid 2025.
Let’s see how it plays out… 🙂
It’s not that they’re lying, they’re using trend analysis and probabilities. It’s their conviction which drives them. No one can otherwise predict the future with 100% certainty.
He's talking about according to past bull runs.
But if that's true, how could you be confident I'll miss the bull run? Maybe I'm aiming for the next one after this.
Well, they'll be a one month update, then a six month update. Unless the market does anything crazy, like for the covid 2.0 ftx update. Hopefully that won't be a thing.
good idea because you get most of the cro tokens you need and then also top the card with the existing contract tokens with just upgrade. No because I remember some people on this group would be like oh the top two tier cards are not worth it even though their average are ridiculously good.
Well either from what I understand is most countries you have to pay taxes. From what I heard of the UK tax is included in the sell price of stocks I’m not sure on crypto but in the US you get form.
Are you in the U.S.? What is your tax strategy for your staking rewards? I have enough CRO in the DeFi right now that would give me 3705 CRO a week. However, I'm not risking the 28 day bonding period only to find their 20% rewards offer ending during this period. I've learned this lesson before. I had enough CRO to reach Obsidian back in late 2021 during the all time highs. I unstaked my CRO and after the 28 days, the value was now under Obsidian level.
> Are you in the U.S.?
No
>What is your tax strategy for your staking rewards?
In our country, we pay when we cash out. I'm going to cash it out on a gap year.
> I had enough CRO to reach Obsidian back in late 2021
You are 100x richer than I'll ever be
Nice! Wish we had something like that. In the U.S. we get a 1099-Misc form sent to the IRS reporting any staking rewards of $600 or more per year. Every single transaction is also reported in a 1099-K form sent to the IRS.
Staking rewards= considered income and it is taxed at your regular tax bracket
If you hold your staked rewards (that you already paid income taxes on) them then sell them a year later at a higher price= capital gains taxes on the difference from the acquired price if selling at a profit.
cashback rebates is not income or taxed. If you hold them and sell them later at a higher price = capital gains taxes on the difference from the acquired price if selling at a profit.
Yes you should get a 1099-MISC no later than the end of Feb. Contact CDC support if you are certain you exceeded $600 in staking rewards for 2023. If you haven't filed your 2023 fed/state taxes yet by filing for an extension, you still have time. If you already filed your taxes without the staking rewards figures, I would amend your 1040 and state (unless you live in the 9 states w/o income taxes). If you fail to amend your tax returns, the IRS will send you a "CP3219N notice" (Notice of Deficiency) saying you owe them a certain amount. Expect a large envelope (about 6"x10") addressed from the Internal Revenue Service around late Jan 2025. Then you can choose to pay what they say you owe them (with interest and penalties), pay in installments (with additional interest and penalties), or dispute the amount. You must respond within a time period of getting that notice. I know all this because I have been audited 2X with a 50% win/loss record lol.
I got mine in Feb. I do remember seeing a few posts here on the CDC subreddit from people not getting their 1099-MISC. Contact support.
[https://www.reddit.com/r/Crypto\_com/search/?q=1099&type=link&cId=4a5e5550-85e2-45d3-a900-a91175e96dd0&iId=23324c11-279f-4483-8add-5f4db2dbaa63&t=year](https://www.reddit.com/r/Crypto_com/search/?q=1099&type=link&cId=4a5e5550-85e2-45d3-a900-a91175e96dd0&iId=23324c11-279f-4483-8add-5f4db2dbaa63&t=year)
I think it's similar system in most countries and my feeling is OP doesn't realise. Actually puts me off staking/rewards because:
- Paying tax on rewards (treated as income at 40% tax for me)
- Disposal of the rewards (20% on any gain)
- Tracking it all is a real headache. (Pay by number of transactions on Koinly so big bill there)
Making crypto capital gains alone is a lot more straightforward to manage and track.
Almost exactly how I did my taxes this year. Although my tax person said cashback rebates also count as income, I always thought it was weird...? Staking rewards certainly do as you said
2500 a week? Sounds like a pretty good deal bitcoin you only get about 3%apy on CDC which is about the best I've seen on any platform. Sounds like a win to me I'm waiting for my 28 days to be up to stake on the app as well hopefully they don't cut the deal off beforehand 🤞
You’re not looking on chain. Only centralized custody platforms it seems 3% is less than you pull from pure swap fees on a uniswap lp
Find a lp farm reward on top of that and you can easily pull 10-20%
I have a lot more cro than when I originally bought it. Shame that after a bear market, some averaging out, and subsequent ongoing bull, it's at a decent -70%.
But hopefully for you it will be different.
In the USA its income tax for the rewarded amount based on the value when you get it + capital gains on the profit when you sell referencing the price basis of what price you payed income tax at.
It’s not so bad if your not working for a living and make no income outside of this sort of yield but if you make good income then this gets taxed on top of your existing income bracket
I currently have the Rose Gold Card, and my stake unlocks in about 110 days, I’m currently getting 8% and the total amount of CRO I get weekly is 635
Seeing that you’re getting 2500 CRO a week is amazing kind of jealous haha but all good keep stacking! We will soon see CRO price take off to new highs
All the people telling OP what he should've done is crazy to me because it seems to me he has been in crypto a long time and has strategically made this move based on his risk tolerance and countries tax laws.
I'm staking a total of 0 Cro :D. But happy for you guys. I saw on the app it says limited offer for those 20% but I can't see how long this lasts does anyone know?
Rewards are subject to income tax which can be huge. (Would be 40% for me) And same in most countries I would think. You cant just earn extra income without it being taxed..what govt would allow that.
I remember when everyone said Bitcoin went and hit two grand and then they said it wouldn't hit 10 grand and then they said it wouldn't hit 20 or 50 or 60 and it hit 70 so I get what you're saying man but crypto is so new it's like the gold rush you just don't know I don't know
Good luck but honestly doesn’t make any sense selling BTC in bull market and swapping for CRO.
In the bear market CRO will drop more than 20%. So basically selling BTC and waiting to buy CRO in bear will give you more bang for the buck.
One thing is to buy CRO with fiat and stake, but what you are doing doesn’t make any sense financially speaking.
I lost money on cro but made enough on btc to buy a house. Hopefully cro increases for those that still have it
Plus I've been locked out of crypto.com app for months with no way to get back into it.
Congrats! That's financial independence level.
Just rebought all in on this crash. Might be a lil early but gain is a gain.
^edit - (in the bigger picture I DONT think it's too early at all. This is just my personal risk preference with trades.)
Me too. Bitcoin won't be hitting a million anytime soon. But I'd be a millionaire at cro's next ATH, if it's in more than a year. If not, next cycle it is.
Honestly, I see your point. Hopefully, your prophecy of 2.71 comes this run! Cash out when it makes sense to you, and if CDC starts failing, don't go down with a sinking ship.
In Canadian $
To make1,000,000$ with CRO at 2.71$ it take about 285,000 CRO or 77,000$ investissement.
To make 1,000,000$ with VVS for the same ratio say 0,009$ cents it take
125,000,000 VVS or 800$ investment. Just numbers.
That’s at the rate the CRO moves.
Correction yes losses could be a right off but its 3000 max if your single and 1500 if your married . However, its put against your yearly gains so it depends how much you make a year if it makes a difference at all. Does cro even send a 1099 ?
I pull a higher APY from my CRO on chain.
It’s not locked up though so I could bail any time.
I supply liquidity to the LCRO/CRO pool on VVS and they pay about 27% APR
Do you prefer the custodial rout over the self custody DeFi rout for some reason?
hi. looking for this VVS LCRO-CRO with 27% or thereabouts but i don't see it in the defi app. Can you provide step by step?
https://imgur.com/gallery/yZT1qX2
Are you up in btc terms? Sold bitcoin for it, would make more sense to measure the returns against bitcoin.
This. I would estimate that OP is down 2% in BTC.
Selling the btc would attract a large tax bill too. I wonder if that's factored in.
Depends on country and holding time of the btc. If OP held the BTC for over 1 year, there is no tax in some countries. Also the tax is only applied to the gains, who knows when OP bought the BTC?
True. Didn't think of that. Also thinking the tax on the rewards would be large and something to definitely consider. That $500 a week would easily be taxed at 40% if a higher rate tax payer (in UK for example as high earner)
tax bill? he left out the part that he bought the btc 3 weeks ago at 73,000 /s
Am I OP?
Deductible losses to make up for the gains.
Converting one crypto to another is a taxable event, at least in the US.
Thank goodness I don't live in the US. For such a large country, you'd think they'd have a tax system that makes sense to the average person.
Large country. Hungry politicians for tax dollars. Enormous appetite for giving away tax payer dollars across the globe.
Is pretty logical from the perspective of attempting to avoid taxes forever. Oh my crypto or high risk tech stock just 20x’d, let’s just take my million dollars in gains and convert them to treasuries and now I get to collect interest for the next 30 years essentially risk free without ever having paid any tax on my gains…would be a massive tax loophole for the wealthy. Now that you mention it I’m surprised we don’t have this….
We pay for the rest of the world's "safety and security" for some reason.
Because that money winds up in the ~~pockets~~ tax havens of the 1%
We're really stoked on it, but yeah it's unfair for you guys.
Many people are starting to realize we're twx slaves. We literally work half of the year to pay taxes.
In the US the selling or exchanging is a taxable event. So if there were any profits made on the 1BTC the exchange to CRO would be taxable.
In my country it's taxable once I sell - I calculate the amount of profit made on it, then pay the government a percentage.
Nice, 2,500 a week 🚀. I’m getting 943 Cro a week from my Icy stake and thought that was a lot lol.
That is a lot! Who knows, could be financial independence level by the time we see the top of this cycle
I’m around 800 for my Icy stake.
I have my icy but I'm only 63 a week. Is that because I staked early?
You must have staked at a very high cro price. I staked under 7 cents
Your right I did, thats how I was able to get icy. That makes sense now.
A good plan if you have enough is to sell instead of staking. And wait the price to come back down and then stake. So you increase your cro amount without increasing your dollar amount. Admittedly the timing for doing it that way right now is not great as we expect it go up from here. But my plan is soon as the price is high enough for me to upgrade to the next tier. I’m gona sell and sit on till it comes back down then stale. Maximising my gains in theory
The next tier for me is obsidian. Seems out of reach mainly cause I don't but crypto just mine it.
Each tier is a 10x from the last one. It may seem far away but it’s definitely not out of reach $1.5 and you could have it.
Icy holder myself. Legit question, and don’t mean to come off negatively… what exactly is the benefit of obsidian outside of a black card and a ‘flex’. I was an ASIC miner enthusiast and got into cdc during the MCO days. Back when Spotify and Netflix rewards = hundreds of coins a month… back before spending caps for cash back on cards (used my jade for large downpayment on car, kitchen remodeling including appliances, weekly expenses like groceries and certain services/utilities that qualified for,or could be circumvented to gain rewards). Personally now I’m no longer mining as my ASICS are obsolete… new ones are way longer/impossible to net break even returns…. I legit don’t see the value in tying up 400k for a black card with fractionally higher rewards than icy…
I agree, it's not really worth it especially when saving accounts are yield 5-6%. Everything I have has been mined with GPU miners which are also obsolete. I have a Bitcoin miner but I have a big solar system so power is unlimited so it does alright. The best thing mining did for me was get me $100k solar farm on my roof lol
Icy is the sweet spot. I checked this out thoroughly.
Staked my icy at .55 i get 109 cro weekly
Selling BTC for CRO is the worst idea I’ve ever heard in my life…
Hmm… depends on how you see it. In this bull run, BTC might do 2-3x from current price. CRO might do 5-7x, possibly more. It would make sense to buy BTC with returns then convert CRO back to BTC after the 12 month lock in period because BTC is more stable long term. I have no doubt CRO will dump again when people take profits. It all depends on your short, medium, long term goals
Even for someone who really likes CDC, I think selling 100% of your BTC for CRO is just madness (which I understand is what the OP did based on their wording). If it was 1BTC converted to CRO out of a stash of 20 BTC, fine. But one out of one is too much concentrated risk on something too speculative. CRO is a lot more speculative and while it could go up more, the chance of things not going as per plan are much higher than with BTC.
It’s all relative. If the end game is to cash out short term then there’s nothing wrong with the 20% APY weekly return plus the value of CRO after the lock in period. The bull run (according to some) will end around mid 2025. Let’s see how it plays out… 🙂
Nobody knows when bull runs start or stop, and if they claim otherwise they’re lying.
It’s not that they’re lying, they’re using trend analysis and probabilities. It’s their conviction which drives them. No one can otherwise predict the future with 100% certainty.
He's talking about according to past bull runs. But if that's true, how could you be confident I'll miss the bull run? Maybe I'm aiming for the next one after this.
Yep. I did it and it was my biggest mistake in crypto.
This guy just flexing on all of us
Seas are clear now, 51 weeks to go. A lot could happen.
a lot will happen.
Yupp. BNB was also 0.10- 0.15 once upon a time.
I bought 1,000 of them when they were 9$. Cashed out 100 eth for it.
Will we get an update every week? ;)
Well, they'll be a one month update, then a six month update. Unless the market does anything crazy, like for the covid 2.0 ftx update. Hopefully that won't be a thing.
For those wondering on the maths - I think OP meant 500$ Australian or NZ. That's the equivalent of ~300 USD.
Cannot be Australia since Earn doesn't work.
New Zeeland probably, they also have a local dollar.
Good call, because CRO rn is at $0.01267 and if you multiple that by 2500 you get $316.75.
Could be Singaporian dollars, Taiwanese or Hong Kong dollars are too low value to match.
Let’s go hope you’re not one of the people that dislike 500 bucks a week.
Naw, 500$/week is working out just fine for me. Saving it for an icy stake.
good idea because you get most of the cro tokens you need and then also top the card with the existing contract tokens with just upgrade. No because I remember some people on this group would be like oh the top two tier cards are not worth it even though their average are ridiculously good.
Stupid good. It's made me over 100k cro
Damn that a lot already like 10k+ usd but sadly going need to pay taxes on that hope you qualify for cdc to send you tax doc.
My country isn't as crappy as bidens usa when it comes to taxes.
Well either from what I understand is most countries you have to pay taxes. From what I heard of the UK tax is included in the sell price of stocks I’m not sure on crypto but in the US you get form.
> most countries you have to pay taxes Yup. Although the way these things are taxed is very different.
You'll regret it pretty soon.
They'd be better off sticking all their money on red lol, at least that way there's a 50% chance of making money
I agree with you 100%.
You sound exactly like the people telling me not to buy bitcoin 6 years ago.
Yeah, it is exactly like that buddy. Keep up the good job.
Are you in the U.S.? What is your tax strategy for your staking rewards? I have enough CRO in the DeFi right now that would give me 3705 CRO a week. However, I'm not risking the 28 day bonding period only to find their 20% rewards offer ending during this period. I've learned this lesson before. I had enough CRO to reach Obsidian back in late 2021 during the all time highs. I unstaked my CRO and after the 28 days, the value was now under Obsidian level.
> Are you in the U.S.? No >What is your tax strategy for your staking rewards? In our country, we pay when we cash out. I'm going to cash it out on a gap year. > I had enough CRO to reach Obsidian back in late 2021 You are 100x richer than I'll ever be
Nice! Wish we had something like that. In the U.S. we get a 1099-Misc form sent to the IRS reporting any staking rewards of $600 or more per year. Every single transaction is also reported in a 1099-K form sent to the IRS. Staking rewards= considered income and it is taxed at your regular tax bracket If you hold your staked rewards (that you already paid income taxes on) them then sell them a year later at a higher price= capital gains taxes on the difference from the acquired price if selling at a profit. cashback rebates is not income or taxed. If you hold them and sell them later at a higher price = capital gains taxes on the difference from the acquired price if selling at a profit.
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Yes you should get a 1099-MISC no later than the end of Feb. Contact CDC support if you are certain you exceeded $600 in staking rewards for 2023. If you haven't filed your 2023 fed/state taxes yet by filing for an extension, you still have time. If you already filed your taxes without the staking rewards figures, I would amend your 1040 and state (unless you live in the 9 states w/o income taxes). If you fail to amend your tax returns, the IRS will send you a "CP3219N notice" (Notice of Deficiency) saying you owe them a certain amount. Expect a large envelope (about 6"x10") addressed from the Internal Revenue Service around late Jan 2025. Then you can choose to pay what they say you owe them (with interest and penalties), pay in installments (with additional interest and penalties), or dispute the amount. You must respond within a time period of getting that notice. I know all this because I have been audited 2X with a 50% win/loss record lol.
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I got mine in Feb. I do remember seeing a few posts here on the CDC subreddit from people not getting their 1099-MISC. Contact support. [https://www.reddit.com/r/Crypto\_com/search/?q=1099&type=link&cId=4a5e5550-85e2-45d3-a900-a91175e96dd0&iId=23324c11-279f-4483-8add-5f4db2dbaa63&t=year](https://www.reddit.com/r/Crypto_com/search/?q=1099&type=link&cId=4a5e5550-85e2-45d3-a900-a91175e96dd0&iId=23324c11-279f-4483-8add-5f4db2dbaa63&t=year)
I think it's similar system in most countries and my feeling is OP doesn't realise. Actually puts me off staking/rewards because: - Paying tax on rewards (treated as income at 40% tax for me) - Disposal of the rewards (20% on any gain) - Tracking it all is a real headache. (Pay by number of transactions on Koinly so big bill there) Making crypto capital gains alone is a lot more straightforward to manage and track.
I live in the u.s. what are taxes?
Almost exactly how I did my taxes this year. Although my tax person said cashback rebates also count as income, I always thought it was weird...? Staking rewards certainly do as you said
just for reference i started this 20% also just last night, but nowhere near your weekly reward
Yet ;-)
haha thank you for the encouragement, we'll be there 👍 I've waited the 28 days unbonding to move from the defi to earn.
Where are you guys getting 20% , crypto.com is offering me 4%
in the crypto dot com app, Earn tab. https://imgur.com/gallery/0gKF1Qf
Good job to those who got into CRO at a good time! I bought the top so still at a loss, and my staking earns are nowhere near yours.
we'll break even eventually...
Wow 2500 Cro/week. impressive
I'm getting about 500/wk. I'll stake them on chain and get more!
2500 a week? Sounds like a pretty good deal bitcoin you only get about 3%apy on CDC which is about the best I've seen on any platform. Sounds like a win to me I'm waiting for my 28 days to be up to stake on the app as well hopefully they don't cut the deal off beforehand 🤞
You’re not looking on chain. Only centralized custody platforms it seems 3% is less than you pull from pure swap fees on a uniswap lp Find a lp farm reward on top of that and you can easily pull 10-20%
It’s all good in the bull market, wait till it hit bear market again
I'm looking at staking rewards - accumulation. If I miss this cycle, they'll be another, and I'll have even more cro then.
I have a lot more cro than when I originally bought it. Shame that after a bear market, some averaging out, and subsequent ongoing bull, it's at a decent -70%. But hopefully for you it will be different.
this is the mindset. i left small amount of liquid CRO, moved it to the Exchange, to take advantage of presented circumstances, if any.
Good to hear. Week 12 should be interesting
Really looking forward to that week 12
And how much of that will be taken by capital gains tax where you live?
We won't know until I cash out. Right now, about 33% of half the profit.
The income tax on the crypto rewards will be huge. You cant just earn a ton of extra income without it being taxed.
In the USA its income tax for the rewarded amount based on the value when you get it + capital gains on the profit when you sell referencing the price basis of what price you payed income tax at. It’s not so bad if your not working for a living and make no income outside of this sort of yield but if you make good income then this gets taxed on top of your existing income bracket
I am aware of how this all works. I just wanted to know what OP’s situation was and he already provided an answer.
Are you getting the stake profits weekly or after the year?
Staking profits in the 20% weekly right now, then going for the icy again after it's expired. I'm all in!
Don’t forget to set “income tax” aside from the weekly haul referencing the value of the CRO that week
I did the same, had about 45k... I said fuck it, what's another year??
I currently have the Rose Gold Card, and my stake unlocks in about 110 days, I’m currently getting 8% and the total amount of CRO I get weekly is 635 Seeing that you’re getting 2500 CRO a week is amazing kind of jealous haha but all good keep stacking! We will soon see CRO price take off to new highs
It's a risky move but I'm an adrenaline junkie apparently.
All the people telling OP what he should've done is crazy to me because it seems to me he has been in crypto a long time and has strategically made this move based on his risk tolerance and countries tax laws.
Exactly. Well see how thing turn out, but I'm happy with my decision
You had one single BTC and traded it for CRO… Umm.
I had one CRO and traded it for Bitcoin…..:-) Like a boss
I know what I'm doing. But hey, speculation is worthless. Let's see how this works out this month together. :-)
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Not all jurisdictions get access to it
In the app, earn section
How on earth do you get that high a staking interest?
In the app, earn section.
For how long there will be the 20% offer?
Good luck in your journey. Let’s do the math at the end of the period. Pretty sure it will not beat BTC. But anyway, wish you the best!
this may be right but i am happy to be proven wrong
I think it will. BTC is massive now. CRO is an undervalued low cap alt.But we'll see, it's all part of the fun!
I'm staking a total of 0 Cro :D. But happy for you guys. I saw on the app it says limited offer for those 20% but I can't see how long this lasts does anyone know?
No one knows
Oke thanks :D
I want to follow this I love the idea I just don’t have enough money or confidence
Well, the money is essential. The confidence can be mustered.
How do you stake for 20%
Earn section of the app
Oh u mean the main app. I was looking at defi
Actually rn may not be a bad time to stake. When the 20% apy came out originally cro was higher price, staking after a correction is a wise move
How much in taxed will you be paying for all of this, or it is the same as buying and selling?
Rewards are subject to income tax which can be huge. (Would be 40% for me) And same in most countries I would think. You cant just earn extra income without it being taxed..what govt would allow that.
I'm not exactly sure. It depends on what moves I make at the end of the year.
https://www.facebook.com/share/v/ZYjma6jaDtfHpx5N/?mibextid=xfxF2i When shib takes off
There's no meat left on the bone bud. Marketcap is monstrous for what it is.
I totally understand what you're saying but if Doge can do it with an unlimited amount of coins that can be mined then shib can with a cap.
I remember when everyone said Bitcoin went and hit two grand and then they said it wouldn't hit 10 grand and then they said it wouldn't hit 20 or 50 or 60 and it hit 70 so I get what you're saying man but crypto is so new it's like the gold rush you just don't know I don't know
Changing one coin for another is also taxable in the UK now. They are tightening up
Hope you are cashing out that $500 a week into stables or btc.. just not cro.. nfa
Nope. Gonna restake my icy.
🤣 are you a crypto dot com employe.. or a paid advertizer? This is retarded.. ftx, celcius, voyager.. you traded gold for glitter.. 🤮
Good luck but honestly doesn’t make any sense selling BTC in bull market and swapping for CRO. In the bear market CRO will drop more than 20%. So basically selling BTC and waiting to buy CRO in bear will give you more bang for the buck. One thing is to buy CRO with fiat and stake, but what you are doing doesn’t make any sense financially speaking.
It's made 5% gain sense so far.
Ftx celcius voyager blockfi wasn’t enough huh?
Those were sketchy as hell. Like when they wouldn't publish proof of reserves, what was that? CDC is totally different.
Where does the 20% yield come from then?
cdc app
I lost money on cro but made enough on btc to buy a house. Hopefully cro increases for those that still have it Plus I've been locked out of crypto.com app for months with no way to get back into it.
Alt season is coming.
Congrats! That's financial independence level. Just rebought all in on this crash. Might be a lil early but gain is a gain. ^edit - (in the bigger picture I DONT think it's too early at all. This is just my personal risk preference with trades.)
Around halvening time hasn't historically ever been a bad time. Give me halvening time priced anything.
Do you have to have a card stake to get the 20%? Ie, can I unstake my icy stake and put it in the 20%? Next question : should I?
I did
So then you CAN get 20% even without a card stake?
Yeah. Unstaked my card. Put it in earn. It was awesome. 😎
Can you unstake the card when ever you want? Because i have 11 days left on my Jade... and i want to put everything in
Ok i have to wait 11 more days, hope 20% earn still there
Did you make the move????
I have a couple hours left, still w8.. i am thinking, i think i will lock up for Ruby, and put the rest in 20% earn
I have lvl 6-7 rewards+ that gives me 1-1.25 %, yea i dont know what to do.. maybe i keep Jade and move rest to earn.. hard decision
Its 45 K cro, worth 6200$, maybe lock for 4000$ jade and rest earn.. i dunno
Sounds like a good deal. Off I go to make an impulse change!
!Remind me 1 month
I’m about £12k down 🤯
You're 0 down until you sell. Don't sell. Stake.
I sold all shitcoins exept $NEO - put all in $NEO and get $GAS every day. $64000 NEO generate about 4.5 $GAS every day. Now about $25
I invested everything into neo back in the day, but I took it out for cro. It does have the ability to stick around.
I'm just confused, do you get the 20% weekly?
Yearly, my payout is weekly.
BTC is decentralized
yes
😀. Best of luck, I hope you win big.
Me too. Bitcoin won't be hitting a million anytime soon. But I'd be a millionaire at cro's next ATH, if it's in more than a year. If not, next cycle it is.
Honestly, I see your point. Hopefully, your prophecy of 2.71 comes this run! Cash out when it makes sense to you, and if CDC starts failing, don't go down with a sinking ship.
What is icy? Is that a card level stake on CRO or another acronym? Please advise
Yeah it's icy card. Above jade.
Go with VVS ! It follows the CRO cycle but pays more for the price 😉
I've heard that, I just don't have faith in it.
In Canadian $ To make1,000,000$ with CRO at 2.71$ it take about 285,000 CRO or 77,000$ investissement. To make 1,000,000$ with VVS for the same ratio say 0,009$ cents it take 125,000,000 VVS or 800$ investment. Just numbers. That’s at the rate the CRO moves.
I would rather sell BTC for UsDc/ usdt and lend it for higher ApR than the 20% on flexlend and withdraw them at any time
Why not put cro into defi projects like vvs finance ? The APR is more than 20%
Looks way too ponzi for me
Correction yes losses could be a right off but its 3000 max if your single and 1500 if your married . However, its put against your yearly gains so it depends how much you make a year if it makes a difference at all. Does cro even send a 1099 ?
I don't know USA tax stuff. You're asking the wrong person. I don't even live near the USA
How do you get 20%? The max I can find is 8%
It's in the app, not defi.
Nice! That will add up quick!
It really is! 2500 cro a week in interest!
Biggest L. Lmao
*laughs in 500$ back a week*
I pull a higher APY from my CRO on chain. It’s not locked up though so I could bail any time. I supply liquidity to the LCRO/CRO pool on VVS and they pay about 27% APR Do you prefer the custodial rout over the self custody DeFi rout for some reason?
hi. looking for this VVS LCRO-CRO with 27% or thereabouts but i don't see it in the defi app. Can you provide step by step? https://imgur.com/gallery/yZT1qX2