How to Convert and Stake CRO in the Crypto.com DeFi Wallet to Earn Passive Income
Вставка
- Опубліковано 23 сер 2024
- Intro: 0:23
Transferring CRO from Crypto.com to DeFi Wallet: 1:37
Transferring Ethereum from Crypto.com to Defi Wallet (for gas fees): 4:30
Transferring ERC-20 based CRO from Ledger Nano based wallet to DeFi Wallet: 8:47
Transferring Ethereum from Ledger Nano based wallet to Defi Wallet: 12:46
Converting ERC-20 CRO to Mainnet CRO: 14:39
Staking Mainnet CRO to earn rewards: 18:52
How to Unstake: 23:17
Recap: 23:36
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TIP: If you select external wallet instead of your DeFi wallet, and enter you CRO main net DeFi wallet address, you do not have to convert and you pay only . 001 CRO for fee instead of 200 CRO
Figured that out myself while discussing this with someone else. A much better way
@@CryptoDad ... I have transferred via die cro wallet option in the app and only paid 0.001CRO in fees. Thanks for informative & great video.
@@CryptoDad remove this video then as it's wrong! You're going to cost people 200 CRO for no reason
I'm glad I saw this. I was wondering where all his money went and the fees were super discouraging. Sounds like I could pay
thats a awesome tip. thx so much!
I was so confused on why I couldnt stake my Cro. Didn't know I had to convert to native cro lol Thanks for the help man!!:)
You are the best your videos are so helpful, everytime when i need something and i type it on internet you are the one that i am seeing.
Great work, appreciate it!!
I just did this today in a far more complicated way through SmartStake. I wish I’d seen this first!
Thank you very much! I'm new to crypto and didn't understand the FAT ETH fee! Now I see it's a normal thing thanks!
2 months later, the interest dropped from 41.62% to 12.67%. Not sure all the hassle and ETH gas fee is worth it anymore.
Could you make a video explaining how to transfer/store cro coins on Ledger Nano S?
Can I use my ledger Nano x to sign transactions in Defi wallet?
Hi, would you possibly be willing to make an updated tutorial on how to store ERC-20 & TRC-20 tokens on the Ledger Nano X/S please? Would be extremely helpful and informative for your audience.
Thank you
I staked for a while then I realized it took 28 days to unstake, unlike ADA or Tron. The only downside of staking CRO is this unbonding issue, too long.
I’ll have to stake my CRO for at least 2 years to recoup the fees I’ll be paying for all of this.
Just send it as native CRO. The fees are super low.
Hi there, thanks for the video. Does CRO staked on the DeFi wallet count towards the stake required for the Crypto.com cards or is that purely through the Exchange?
My exact question
It does not count as you stake required to reach a certain card threshold.
great video!, finally signed up for crypto.com using your code. thanks
You are a legend. Thanks you so much!
Thank you for all of the videos. Very helpful
Oh man I'm so confused with all this I guess I'll just leave my cro where they are at I feel like I could screw something up on this and then end up losing my tokens lol
Question:. Once you convert to the crypto mainnet chain in the defi wallet, can you then transfer CRO back to the crypto App again?
New to your channel. I just started investing in Crypto.com
How do you know what kind of CRO you have? ERC-20 or the Native CRO token? Where can you check this
What's the point of migration? savings in fees? I haven't gone through with the whole process but the earn section seem to allow me to stake native cro.
Thank for a really detailed explanation! I appreciated it
Great Video ?
Question ? Can you tranfer CRO to a cold wallet ? If yes any suggestion of good Cold wallet that do take CRO ? Can seem to find the info. Thankyou
As akways, great video, such attention to details and simplyfying things for us. Thankyou :)
P.S. (@19.17, p.a means per annum, same like APY Annual percentage yield)
No, they're not the same. APR is per annum, APY is annual compounded yield.
Awesome thank you sir!
Hi, I wanted to reach out because I made the mistake of transferring 0.4 ETH from the exchange to my DeFi wallet using the Cronos network instead of ERC20. Now it seems that whatever method I try, I can’t move my ETH (or possibly WETH) back to the exchange. I thought about trying to swap WETH for Cronos and then transferring the Cronos back to the exchange, but the swap would require around $350 in gas fees. I appreciate any insight you could offer.
Thank you for this! Just out of curiosity cause i'm new to the CRO ecosystem and i have the Ruby card on the way. I'm wondering if i staked it this way would i still get the ruby benefits since it's staking on CRO main net?
And 15% commission? Is that high? I don’t know. Seems high imo.
PS: P.A. means “Per Annual”
I love your videos 👍 Can you make a video about Kava and staking XRP 🙏
I didnt know you could stake xrp
the gas fee's until you reach the end goal are insane. its sad that we can not convert in the cro app and send on there native chain to the defi wallet. i hope this things are getting easier/cheaper in the future
What do you think about the Polygon network, the leading level 2 scaling solution for Ethereum?
I use it frequently to swap Ethereum-based tokens for less than a cent on the DEX QuickSwap.
Great content thanks
Thank you for the video What is that little device that you have in your hand you said you sign with it or agree..
It looks like a USB device. What is that do I have to have one to do what your doing?
can you please explain what that is, the devices that you show in the video. Thank you again Great video I’m just trying to understand more I’m going to subscribe to your channel.
What if you let it as is? I would assume they will convert it at some time. Gas fees seems to be too high now.
Thanks CrytoDad! Love your thoroughness and clear delivery!
FYI the app now allows you to choose your validator, you never want a single validator for the whole chain...
Thank you for the video 🌸🙏🙏🙏
I went to unstake and someone the migration tool quickly ran and it said I successfully migrated back to CRO (assume thats ERC20 CRO)? I can't see a balance anywhere. Is there a delay or will I not see this for 28 days as it unstakes? I see the balance and tx hash in a wallet, and assume it's mine, but don't feel that comfortable.
If you're already staking cro on crypto.com. Must you wait till 3 months is up before you can restak for 50% interest in defi wallet.
I got into Cro before the change of net cause I thought it will explode after the change but sadly it didn’t. Now I’m seeing this and thinking 200 CRO that’s around 50$ + ETH Gas Fees that are almost 100$. Shocked tbh even tho interest rate is very high on the long road but I guess as HODLer it won’t make a difference unless I plan on selling sometime.
Only question i have is if I have enough CRO to stake for the Ruby Card but didn’t buy the tokens on the tab “Card” in the Crypto.com App are they going to stake anyways for the Card or did i mess this up??
Is CRO migration a Taxable event?
Do not use ERC 20 protocol. You can use the cro protocol and save yourself a ton of fees.
Yeah it was weird. The first time I withdrew CRO from Crypto.com (using the DeFi wallet choice) , It used ERC 20 protocol. After I converted from ERC 20 to CRO Mainnet, the next time I withdrew from Crypto.com (using the DeFi wallet choice), It automatically withdrew using a CRO Mainnet address.
But I did have a bunch of ERC 20 CRO in my Ledger wallet that I needed to transfer, So I had to use an ERC 20 address for that.
How exactly do you do that when you still have ERC20 CRO? Mind sharing a tutorial?
@@runninghighOG I do that in the vid:
Transferring ERC-20 based CRO from Ledger Nano based wallet to DeFi Wallet: 8:47
@@CryptoDad I got that part. I was wondering what Ron meant by using the CRO protocol for this migration to avoid ETH gas fee when all my CRO are ERC20 based tokens.
@@runninghighOG Yeah do the withdrawal different than I did. Don’t use the DeFi Wallet option. Choose external Wallet, and then whitelist a new CRO address. you have the option of choosing the CRO Mainnet.
What credit card or debit card do you use to buy eth. Chase won't let me
Is it possible to open the defi wallet with a ledger nano s?
Don't think so, they generate a wallet inside the application for you.
Rex, any info on when we in Michigan will be able to use the desktop exchange on crypto.com?
These interest rates don't match that which is shown on the crypto.com website. Is that because this is a result of staking on a defi wallet?
It won't let me unstake even tho I've staked 40bdays ago 🤔
Tk, what is the difference between this and my CRO stake in the supercharge on crypto.com wallet ? Not sure to understand the difference tk
Question if my CRO is already in the Crypto.com wallet and has never been transferred out is it auto convert or do we need to still convert it our self? Also does my weekly rewards for staking 10k now on there mainnet or does that need convert too?
I actually did it right through the just the earn button and didn’t do the conversion. Do you recommend that I unstake it and do the migration first?
You may have found a cheaper way to do this. Did it seem to convert to CRO Mainnet? or does it still show ERC 20 CRO as being staked? I would leave well enough alone if you are earning.
@@CryptoDad Well when I transferred my CRO from the Crypto app to the DeFi wallet, my network type said ‘crypto.org chain’ which I believe is considered Mainnet? So I got a little confused when I saw that yours was initially the ERC20 type when mine wasn’t . I just started doing it today so I haven’t seen any results yet. We’ll see what happens though!
@@CryptoDad Okay so I did a bit of searching in UA-cam and found that when you’re about to withdraw your CRO from crypto.com to the defi you have the option to select either CRO or ERC20 as the type. You’ll see the slider option at the top of the withdrawal window before you finalize it..
@@desmondrowe8256 , Ah yes I see that now. That’s when you’re doing a straight withdrawal to an external wallet. I was using my existing connection to the DeFi wallet that I set up when I initialized the wallet. I should’ve used the external wallet option and white listed a new CRO address. That would’ve allowed me to choose CRO Mainnet & convert while withdrawing. Thanks for pointing that out.
Can you help me using Defi Wallet ?
What about the cro that is staked to the debit card? You can't move those can you?
really good video, thank you
Why not buy the cro in the defi wallet to avoid the transfer free?
This is why you shouldn't get Crypto advise off youtube 😮
So I follow all along exactly how you were showing but after I "continue" in the migration tool it shows my balance as zero (20k CRO balance on prev screens). Any reason why? do I need to transfer back to exchange and transfer back to wallet differently?
Yeah the migration tool isn’t the best way to do this. Sorry about the video. More efficient way to do this with less fees is to simply connect your DeFi Wallet and make a withdrawal of CRO. Just make sure when you do the withdrawal that you use the Cronos chain.
Hi Rex, thanks for the video. I have a question - I've been staking CRO transferred from the CDC app through the Defi wallet for about a week now, however I never performed the migration. When I sent from CDC app to Defi wallet, I selected "CRO" instead of "ERC20." Am I doing this wrong? I have been claiming rewards and it seems to be working fine. I was under the impression that the migration tool was for use with MetaMask and such. Thanks, Rex!
No. Your did it correct if you want to use cro as your base. Erc20 would be based off ethereum..
Migration is when your depositing your crypto with outside apps
Crypto dad could you help retrieve some vechain on there mainnet for me the process is very confuseing with the binding of nodes ive already got burnt on eth trying to retrieve it..also would be a good educational vid for crypto.com erc20 token conversion for the defi wallet
What do you think of btr
I was wondering if you could help me figure out a problem i have been having. i have been trying to send Enjin and Hot from mytrust wallet to my binance account but it will not send it says i dont have enough DGTX tokens ?? i have Eth and bnb and DGTX on the trust wallet. i would be willing to pay for your time to help me get them moved off the trust wallet.
Too many fees! I don’t know if it’s worth it?
hello crypto dad great work and help you give to all of us thank you ,,,, but i do have a question for you as i was watching this video i noticed that a 15%commition is taken for the staking , is that on the full amount staked or just the interest you earn because if its on the hole amount in my calculation that work out to be 22.5% so it will leave you about 13.5% at the end , that the way i see it can you correct me if i am wrong many thanks costa
then also take of the gas fee as well it seem like it will cost you just to stake , be out of pocket
Can somebody please tell me how to withdrawal DeFi earn from cro wallet without paying 240$ eth fee for just 500$ ?
Why don't you make your own coin on mintme?
Can any body please tell me how to get eth for the network fees, so I can swap and get my money out of this app. Please!!!
how do i see wheter my CRO is the ERC20 version or not?
I have the $400 visa ruby card. I have the cro that is staked for the card benefits but I also have cro that is not staked. If I keep buying cro and my account value reaches $4,000 then will I be able to qualify for an upgrade on the cro card?
i would like to know the same thing
@@japazo19 you can upgrade. I just did it 2 days ago. I just had to pay the difference to make the value of the staked cro $4,000
Side note: once you upgrade to a hier tier card, they deactivate your old card right away and you have to wait for the new card to arrive.
how do u find your wallet address
What can you do with your mainnet CRO when you want to unstake and withdraw? Do you have to convert it back to ERC-20?
They are developing a whole ecosystem for mainnet CRO check the roadmap link.
Crypto.org Chain Intergalactic Roadmap Blog Post:
blog.crypto.com/crypto-org-chain-intergalactic-roadmap/
Hello. Anyone who can help me please answer this comment. 🙏
I can't do withdraw in my COBO account. Then I called the CS. They say if my account is in suspend. And I have to pay 30% of the total asset to be able to perform withdraw. Is it true that the rules?
Hi Rex, you paid 200 CRO's in fees. there is another way to do it without that expensive fee
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+~1~2~0~2~6~0~1~5~0~9~3~
Fees fees fees
goog morning sir please i'm have a problem with my petronpay i can't access my account without my google authenticator password I lose my phone
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+~1~2~0~2~6~0~1~5~0~9~3~
Ok
Great video but could you upload a new video because changes have been made to the CRO convert and staking process since this video was made in April 2021, such as improvements to the Cronos bridge to avoid the huge Eth fees, and also being about to select from a list of validators, some with zero commission. Would also be very useful to know how to un-stake your CRO and then transfer it back from the de-fi wallet into the crypto.com app which is something I'm struggling with!
A video on how to buy Hoge Finance would be funny.
@@yuvalnoahharari6579 is this you?
US Citizens?
There was so much back and forth, totally got lost and lost interest.
What if I told all your innocent viewers that you could transfer cro into mainnet for.02cro fee instead of 0.34 eth
I would say you are right
4 months you’ll get your gas fees back from the apy.. no thanks
Yes gas fees are killing everywhere right now. Maybe in a rainbow/unicorn future this transfer won't be so expensive.
Bill gates
Rex have you tried the Crypto.org Chain desktop wallet yet? I moved my CRO over to it during the conversion to the mainnet. On it you can pick your staking Validator, my concern though is trying to figure out how to link that to my crypto.com app now on my phone.
I know Crypto.com waves the credit and debit card fees for the first 30 days...but when you make a purchase with a credit or debit card, does your card issuer count that as a "purchase" or a "cash advance"? Just trying to see what kind of other fees we might get hit with, using the card method.
HI, CAN YOU HELP ME HOW TO SYNCHRONIZE /IMPORT MY CRO DEFI WALLET TO NEW DEVICE. I HAVE DOWNLOAD THE D5 WALLET, I PUT THE BUTTON "ENTER AN EXISTING D5 WALLET", I PUT THE PROPER PRHASE A NEW CODE BUT I CAN SEE MY CRO. CAN YOU HELP ME PLEASE
Hi, would you possibly be willing to make an updated tutorial on how to store ERC-20 & TRC-20 tokens on the Ledger Nano X/S please? Would be extremely helpful and informative for your audience.
Thank you