- Crypto.com removes Dogecoin, Shiba Inu and 13 other cryptocurrencies from its staking rewards program.
- The exchange announced the integration of Apple Pay to power cryptocurrency payments through the digital wallet service.
- Cronos price dropped as the exchange excluded Earn meme coins.
Crypto.com has made significant changes to Crypto Earn, the product that allows users to stake their assets and earn rewards in exchange. Shiba-Inu themed coins and several other cryptocurrencies were removed from the program and FTM, ZIL and NEAR were added.
Crypto.com Removes Dogecoin and Shiba Inu from Crypto Earn
Crypto.com, the leading cryptocurrency exchange, has announced an overhaul of its Crypto Earn staking rewards program. Effective June 27, 2022 at 10:00 UTC, the exchange announced the removal of Dogecoin, Shiba Inu, and thirteen other tokens from its program.
New FTM, ZIL and NEAR tokens have been added and pricing has been revised. FTM can be staked up to 5% per year, ZIL and NEAR for 6% per year. Reward rates have also been revised for some stablecoins. See the following table for the new rates:
Revised Rates for Crypto Earn
Select tokens, Shiba Inu (SHIB), Dogecoin (DOGE), Tezos (XTZ), Maker (MKR), EOS, OMG, FLOW, KNC, ICX, COMP, BIFI, ONG, GAS, STRAX and BNT. Existing fixed-duration allocations for these tokens remain unchanged until the end of the duration and funds from active flexible-duration allocations will be automatically returned to users by June 28, 2022, 10:00 UTC.
Crypto.com integrates Apple Pay for crypto purchases
Crypto.com announced the integration of Apple Pay on its platform, allowing users to buy crypto quickly and securely. In a new blog post, published on June 24, 2022, the exchange described the Apple Pay integration and explained that the method would be used to purchase crypto within Crypto.com.
Current debit and credit card fees and trading limits would apply and users would first need to add their credit/debit card details to their Apple Wallet on their iPhone. Once the bank card is updated in the wallet, users can quickly make cryptocurrency purchases on the Crypto.com app and pay for them securely via Apple Pay.
Cronos Price Drops After Earn Dogecoin and Shiba Inu Withdraw
Cronos (CRO), the utility token of the Crypto.org chain, has seen a drop in price since the update on Earn was announced. As the exchange removed Dogecoin and Shiba Inu from the program and revised pricing, users criticized the platform for the move.
HueFin’s Crypto Analyst has assessed the Crypto.com price chart and believes this is the start of the bottom for CRO. There is no indication of a rally in the three-month chart and the analyst says the price of CRO may fall.
Netcost-Security analysts believe there is no rush to buy back CRO at the current price level. For more information, watch this video: