Sep 6, 2019
Crypto.com: Several Listings, Earn 3.0 up to 18%, Achieved Data Security Standard
Biweekly update 23d August — 6th September
Hi, everyone. Greet our latest update on Crypto.com, the pioneering payments, and the cryptocurrency platform. We feel a strong urge to show you everything we found in the last two weeks. Let’s begin!
First of all, Crypto.com announced three listings — Ontology Gas, Golem, Nano. With these tokens added to the Crypto.com, users can now buy them at actual cost with no fees — credit card and bank transfer both supported. As Crypto.com also offers the MCO Visa Card, this adds additional utility to these tokens as users can easily convert cryptocurrencies into fiat currencies and spend at over 40m merchants globally.
Second, Crypto.com announced the enhancements to Crypto Earn. So, you can earn up to 12% p.a. on stablecoins (USDT, DAI, TUSD, PAX, USDC) & up to 18% p.a. on CRO. Furthermore, users with 500, 5k or 50k MCO staked for Cards will “Auto-Earn” interest up to 8% p.a. So, users can keep their tokens staked. In our opinion, the foundation is trying to improve itself and provide a good service to end customers.
Third, on September 2, Crypto.com has officially achieved PCI: DSS 3.2.1 (Level 1) compliance after rigorous third-party security audits by a Quality Security Assessor (QSA). Crypto.com is the first cryptocurrency in the world to have both ISO27001:2013 and PCI: DSS 3.2.1, Level 1 compliance. PCI:DSS is the “Payment Card Industry: Data Security Standard”, which outlines a set of strict requirements set by the payment card industry, and is designed to ensure that organizations which process, store or transmit credit card data maintain a highly secure environment, and uphold the highest data security and privacy standards. We believe that it’s a piece of excellent news. We think that having a specific certification is undoubtedly essential, especially considering the VISA card issue.
To conclude, this company shows a great result. In our point, Crypto.com continually published its updates and is keen on its roadmap. Furthermore, as we can see, the team aims at customer engagement and business development.
Development
PCI:DSS 3.2.1 (Level 1) Certification
On September 2, 2019, Crypto.com has officially achieved PCI:DSS 3.2.1 (Level 1) compliance after rigorous third party security audits by a Quality Security Assessor (QSA). Crypto.com is the first cryptocurrency in the world to have both ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance.
PCI:DSS is the, “Payment Card Industry: Data Security Standard”, which outlines a set of strict requirements set by the payment card industry, and is designed to ensure that organizations which process, store or transmit credit card data maintain a highly secure environment, and uphold the highest data security and privacy standards.
The PCI Data Security Standard requires the organization to comply with the following security, control objectives:
- Build and Maintain a Secure Network and Systems
- Protect Cardholder Data
- Maintain a Vulnerability Management Program
- Implement Strong Access Control Measures
- Regularly Monitor and Test Networks
- Maintain an Information Security Policy
Jason Lau, Chief Information Security Officer of Crypto.com:
“Put simply, PCI:DSS Level 1 certification is one of the most rigorous globally recognized payment card security standards available, and shows how serious we are about security and our approach to protecting credit card data. PCI:DSS Level 1 compliance coupled with ISO27001 shows our ongoing commitment to building trust with our customers.”
Kris Marszalek, Co-Founder and CEO of Crypto.com:
“Security always comes first — this is the foundation on which strong, trusted brands are built. We will continue investing heavily in our people, technology, and processes to maintain the highest standard of security in the industry.”
Social encounters
Upcoming events:
- Co-Founder and Head of Corporate Development @bobbybaocrypto at Crypto.com will be speaking at ‘The Capital’ CoinMarketCap Global Conference on November 12–13 2019 in Singapore!
Finance
Crypto Earn 3.0
Crypto.com announces the following enhancements to Crypto Earn.
Increased interest rate for stablecoins:
CRO added to Earn: Deposits of Crypto.com Chain token (CRO) allow users to earn up to 18% p.a. (per annum). The minimum deposit is 10,000 CRO. With this addition, Crypto.com Chain Council Node Rewards will be migrated and integrated into Crypto Earn.
MCO Staking Rewards:
In line with the community input, Crypto.com is strengthening the value proposition for 500 MCO staking and above tiers as follows:
- Auto-Earn for Card Staking: Users with 500, 5k or 50k MCO staked for Cards will “Auto-Earn” interest at 6%, 8% and 8% p.a respectively from Crypto Earn. You can keep your tokens staked!
- Retroactive Payments: The retroactive payments of the interest on MCO Staked tokens from 25 June to now will be distributed by Thursday, 12th September in your MCO Wallet, and Crypto has extended it to cover the 500 MCO staked users!
- 500 MCO Staking: From September 5th onwards, users will have to stake minimum 500 MCO to enjoy 2% bonus interest on Earn deposits. The 500 MCO minimum stake will apply for Credit and Invest fee discounts too.
The following table reflects new revised terms depending on staking level:
Note: The interest you receive is simple daily interest and will not be compounded.
New Listings
On August 27, 2019, Crypto.com announced that it has listed Nano (NANO) to its App.
Nano (formerly RaiBlocks) is a decentralized, sustainable, and secure next-generation digital currency focused on addressing the inefficiencies present in existing cryptocurrencies. Nano solves problems of slow transactions and cost by employing a novel block-lattice data structure, wherein each user account possesses its own blockchain. The user account’s blockchain keeps track of their account’s entire transaction and balance history. The efficient and lightweight nature of Nano allows everyone, including individuals in emerging countries to easily participate in local and global economies with a low barrier of entry.
On August 29, 2019, Crypto.com announced that it has listed Ontology Gas’s ONG to its App.
ONG is one of the two tokens used in the Ontology model, the other being ONT. Ontology operation is guaranteed by the support of all nodes. It secures the whole network through paying operation fees to all nodes with ONG, the compensation to the contribution made to the network.
On September 6, 2019, Crypto.com announced today that it has listed Golem’s GNT to its App.
Golem (GNT) is a peer-to-peer decentralized marketplace for computing power. Golem connects computers in a peer-to-peer network, enabling both application owners and individual users (“requestors”) to rent resources of other users’ (“providers”) machines. Any user ranging from a single PC owner to a large data center can share resources through Golem and get paid in GNT (Golem Network Tokens) by requestors.
ONG Staking Bonus
All Crypto.com users that hold Ontology’s ONT in the App are entitled to receive ONG staking bonus accordingly, on a monthly basis.
The ONG Staking Bonus is determined by the following formula:
The more ONT and MCO you have, the more ONG you will receive.
- Qualification: Users must hold at least 100 ONT in order to qualify for the ONG staking bonus.
- First Snapshot: September 1st, 2019 at 00:00:00 UTC
- ONT Daily Snapshots: Crypto.com will conduct a daily snapshot of each user’s ONT balance and add the balances during the month to determine the monthly ONT token figures.
- MCO Staking Booster: Crypto.com will multiply all daily snapshots by the MCO Staking Booster:
- MCO Staked Amount: The amount used for the MCO Staking Booster will be the amount the user has staked on the first day of each month.
- ONG Staking Rewards Pool: The amount of ONG releases to ONT Holders as determined by the Ontology Network.
Notes:
- Monthly Distribution: ONG will be distributed to the user’s ONG wallet within 10 Calendar Days after the last day of each month. (i.e. the first ONG distribution will take place by October 10th).
- Crypto.com reserves the right to cancel or amend the ONG staking bonus rules at the sole discretion.
Example of Calculation:
Assume the ONG Staking Rewards Pool is 200
Roadmap
Rumors
Social media metrics
Social media activity:
Social media dynamics:
The graph above shows the dynamics of changes in the number of Crypto.com Reddit subscribers and Twitter followers. The information is taken from Coingecko.com.
