Crypto Earn – a new way of earning passive income, was introduced this week to the Crypto.com ecosystem. It promises users not only the satisfaction of supporting an up and coming cryptocurrency network, but also a 12% yearly return on their investment, distributed daily in a convenient fashion.
How to Get Started with Crypto Earn
The whole process consists of opening your Crypto.com wallet and staking your CRO tokens to buy or partially own a Council Node. As a result of the new partnership with AllNodes, you can do so by either straight up buying your node or co-owning it with others. Council Nodes serve as validators of transactions in the blockchain.
An added benefit of this system is that you can withdraw your funds at any time, without penalty. Whether it’s simply not worth it anymore or you want to switch to another project, you’re free to re-allocate your money elsewhere, no questions asked.
Provided you want to explore this new opportunity, you’ll need to first download the app from either Google Play for Android or the AppStore for iOS – simply visit Crypto.com’s official website. From there on out, simply select your CRO balance and decide whether you’d like to set aside 100,000 CRO for your own Council Node or a smaller amount for shared ownership of one. That’s it, you’re ready to receive your annual return of 12%.
What are Council Nodes?
Starting with the launch of the main network at Crypto.com, council nodes will monitor and validate the following network functions:
- Settlement of transactions
- Sorting and managing the priority of transfers
- Verification of transactions
- Hosting services for various functions
Crypto.com’s partnership with AllNodes.com allows users to keep funds in their own wallet and still use the platform to host their own council node. In addition, the provider is offering 6 months of free hosting for another 99 different coin nodes. You should keep in mind that if you’re a resident of Hong Kong, PRC, Switzerland, Singapore or the United States, you’re not eligible to make us of AllNodes’ services.
Closing Thoughts
While the project still has a long way to go, we’ll be keeping you posted on any new developments. In the meantime, Council Nodes weren’t the only new source of information. Another long-awaited feature was announced – USD bank transfers, provided by ACH Network and available for every resident of the United States. While very appealing to many, it remains to be seen how all offerings will be implemented in one unified product. The project has undergone through many stages and promises a lot more to come.