Dogecoin, Shibas, And Other Coins Are Taken Off Of Crypto.com’s Earning Program!
Crypto.com one of the largest crypto earning platforms removed around 15 altcoins including most trending ones like Dogecoin, and Shiba Inu from its crypto earn program last Monday. The company announced that they are going to delist 15 altcoins from their crypto earn program and will be effective from 27 June 2022, 10:00 UTC. the crypto earn program offered by crypto.com offers up to 10% on all stablecoins and up to 14.5% on cryptocurrency deposits. They also offer support to over 40 assets.
“Existing fixed-term allocations for these tokens will remain unchanged and continue until the term ends. Funds from any active flexible-term allocations for the tokens listed above will be automatically returned to users’ Crypto wallet by 28 June 2022, 10:00 UTC” the crypto.com company announced.
Dogecoin, Shibas, And Other Coins Are Taken Off Of Crypto.com’s Earning Program!
Along with Dogecoin and Shibas, other coins removed from the crypto earn program are Tezos, Maker, Flow, Kyber Network Crystal v2, EOS, OMG Network, ICON, Compound, Gas, Stratis, and Bancor, Beefy Finance, Ontology Gas. while removing 15 altcoins, they added three new coins to the program such as Zilliqa, fantom, and NEAR. “Users can now enjoy rewards rates of up to 5% p.a for FTM, and 6% p. A for ZIL and NEAR. We will also be revising the reward rates for select stablecoins”, the company announced.
Along with removing and adding altcoins to the crypto reward earn program, they also changed and modified the rates of some crypto coins. The company changed the reward rates of around five stablecoins and the list includes TGBP, TAUD, TCAD, TUSD, and USDP. Although, the company has not changed or modified the rates of crypto earn rewards of around 28 crypto coins such as Bitcoin, Ethereum, Polygon, Avalanche, and Solana.
Any clarification or reasons for removing coins and adding more coins to the crypto reward earn program are not provided on the part of the company. Along with these modifications, the company also announced its integration with Apple Pay on its platform. According to a blog post published by crypto.com on June 24, 2022, they explain the need for integration of Apple Pay into their platform and also explained that it helps to easily purchase cryptocurrencies through their platform.
In fact, after the announcement of modifications in the crypto earn reward program, the utility token of the crypto.org chain, Cronos has faced a huge drop in its price. Because the users of the platform criticized the company’s decision to take off Dogecoin and Shiba Inu from the crypto earn reward program. Many crypto analysts evaluated this as the beginning of the failure of CRO and there is no indication of a price hike for the last three months.
