Hello and Namaste Everyone
I am happy to admit that I am not a crypto expert and my crypto journey has been started with this wonderful community only. I believe that crypto is such a vast industry and a lady like me who comes from a non-technical background will take a few years to get much knowledge.
I have been going through crypto.com for some time and this exchange offers various crypto services including trading, staking, etc and they even have Defi which is a hot and trading crypto instrument these days. I got to know about their staking products and I did register myself and also got my KYC done. I was needed to stake their 1000 CRO tokens. CRO is their native tokens for they are working to increase its utility which would help the token to gain more value and its price.
I had selected this Ruby Steel card for which it requires a minimum of 1000 CRO tokens that I did in Aug month. Token price was approx $0.17 at that time so I had to spend $170 in total and a few $ in transaction fees as well.
This card also offers some benefits in form of cashback and Spotify subscription but in India, it's not applicable however it may be available in future
Now today when I checked the app on my phone it was showing a balance of $98 only so I thought that there is something wrong with the app as I was not expecting this much of a downfall in CRO token price.
I went to coinmarketcap website to check out the price and then I found that the balance is correct because the price has gone down by almost 40-45% and that's why it's showing less.
I am not worried because I know that the crypto market is highly volatile and within my experience of 18 months I have seen many scenarios like this. Now since I have already staked these coins for 6 months so I have long-term goals and hope that it does well in the future. I usually don't check the crypto prices every day and even I do the same for HIVE but nowadays Bitcoin is going up so thought of checking the value if there is an increase however here the situation is the other way round.
Thank you so much.