RE: Investing Myself Into Crypto.com
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How do they stake litecoin? litecoin is POW. Not your keys, not your crypto.
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You are viewing a single comment's thread:
How do they stake litecoin? litecoin is POW. Not your keys, not your crypto.
You’re right. You don’t get keys. That’s the trade off. They want to be mainstream and are working hard to get regulatory approvals in their target markets.
Their approach is more like a bank. We don’t get keys to the vault at the bank either.
Fortunately, you can transfer to a wallet and back as needed. You only really need the different levels of MCO staked to get the perks. You don’t actually have to use the app for trading or holding other currencies, except fiat. The advantage is use of the debit card to earn more crypto and the other perks of having the card.
I only had enough cash to get the LTC minimum for staking. If I lost the $200, it wouldn’t be the end of the world. Once the three months are up, I’ll convert to MCO and stake that. Free Spotify and 2% back on purchases.
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Sounds like a scam. Be careful.