Crypto.com is gaining attention not only as a cryptocurrency exchange but also for its unique foray into the prediction market space. This expansion introduces an innovative feature that allows users to engage in trading across various events, including sports, finance, politics, and pop culture. This interesting blend of cryptocurrency and event prediction has the potential to attract a diverse range of users looking to capitalize on their predictions.
For those interested in joining this platform, the Crypto.com prediction market welcomes users with an enticing bonus of up to $50 in CRO tokens. To unlock this welcome offer, users need to stake a certain amount of CRO. Staking between 1,000 and 4,999 CRO earns a $10 bonus, while staking 5,000 CRO unlocks the maximum bonus of $50.
Here’s a step-by-step guide on how to claim the bonus:
1. Access the Crypto.com app or website.
2. Select “Sign Up” and choose an “Individual” account.
3. Input your email address and the referral code (though it’s currently unavailable).
4. Finish creating and verifying your account by following the prompts.
Users also have the option to sign up using existing Google or Apple accounts. After verification, they can connect a qualifying deposit method and stake CRO to claim the bonus. Missing the referral code during signup? No worries; users have one year to submit a valid code to still earn rewards.
With the welcome bonus claimed, users can step into the world of Crypto.com prediction markets. These markets allow individuals to trade event contracts based on whether they believe certain events will occur. If their predictions are correct, they can sell these contracts for a profit. Interestingly, market prices fluctuate based on demand rather than traditional sports betting odds, offering a unique trading experience.
Unlike typical sportsbooks, trades in the prediction market operate under the guidance of the Commodity Futures Trading Commission (CFTC). This regulatory oversight means that even users in states without legal sports betting can trade these contracts. Popular among users in California and Texas, the platform hosts contracts for a wide array of sports events, covering professional leagues and college sports alike.
Beyond sports, Crypto.com also offers prediction contracts in various sectors such as finance, economics, and pop culture. Users can anticipate outcomes like election results, celebrity achievements such as winning an Oscar, or fluctuations in gold prices.
When it comes to fees associated with trading, Crypto.com maintains competitive rates, particularly for active traders and those who stake CRO tokens. The base trading fees start at 0.25% for makers and 0.50% for takers, with potential reductions available for frequent traders.
In terms of moving money, users in the U.S. can employ several methods such as ACH transfers, wire transactions, or instant deposits, each with its own processing time and associated fees.
Security is a significant focus for Crypto.com, encouraging users to enable two-factor authentication and utilize whitelisting for withdrawal addresses. The platform also publishes proof of reserves to assure users that their funds are fully backed and secure.
Looking ahead, Crypto.com is expanding its reach by forming partnerships with various entities to enhance access to prediction markets. One of the notable collaborations is with Truth Social, allowing users to convert engagement rewards into CRO tokens for trading on prediction markets.
As more users explore the potential of prediction markets, Crypto.com looks poised to make a significant impact in this evolving domain, integrating seamlessly with its existing cryptocurrency services.
