Crypto.com has added XTZ, the native currency of Tezos, to its platform today and is looking into adding baking rewards for its users. XTZ has enjoyed a streak of new listings this month, with Crypto.com becoming the seventh platform to do so.
XTZ’s Crypto.com Listing
Crypto.com provides numerous products, including the Crypto.com App, the MCO Visa Card, and the Crypto.com Chain which allow users to buy, sell, spend and be paid in cryptocurrencies easily. Crypto.com is based in Hong Kong and has more than 150 staff. The company states that its mission is to “accelerate the world’s transition to cryptocurrency.”
$XTZ is now listed on the https://t.co/vCNztABJoG App. Buy and sell Tezos now at true cost with bank transfer and credit card (both are supported!) Full details – https://t.co/MuUQu3aToc @tezos pic.twitter.com/0GDBUxvyih
— Crypto.com (@cryptocom) August 15, 2019
MCO Visa Card owners will now be able to convert XTZ into fiat currencies for ATM withdrawals or purchases at millions of merchants worldwide. On the Crypto.com App, users will be able to buy XTZ with no fees and at “true cost” using a credit card or by bank transfer.
If Crypto.com adds baking rewards, which it is currently exploring, its users will be able to earn passive income from their XTZ holdings. Baking rewards are estimated to be 7.01% per annum, according to stakingrewards.com.
Crypto.com already supports 44 cryptocurrencies on its platform including Bitcoin, Litecoin, Ethereum, XRP, TrueUSD, MCO, CRO, and many more.
Seven New Platform Listings for XTZ
XTZ has been on a roll this month with today marking its seventh listing. Here is a timeline of the seven platform listings in August so far:
- Huobi Wallet added support for Tezos on August 01, 2019
- Coinbase.com listed Tezos on August 08, 2019
- eToro listed Tezos on August 05, 2019
- Coinsuper Exchange listed Tezos on August 12, 2019
- P2PB2B Exchange added Tezos on August 13, 2019
- Bitfinex added Tezos margin trading on August 14, 2019
- Crypto.com adds Tezos on August 15, 2019
Many XTZ holders are hoping for a Binance listing, but there has been no indication from Binance that this could be on the way soon.
Tezos is a self-amending cryptographic ledger and open-source blockchain platform for decentralized applications, smart contacts, and digital assets. XTZ is Tezos’ native cryptocurrency. XTZ holders get to vote on the governance of Tezos.
XTZ Price Volatile Amid Listings
While the number of XTZ listings has been in a steady uptrend recently, its price has been more volatile. In the last 30 days, XTZ has seen its price increase 105% from its low at $0.8282 to its high at $1.7 and then decrease 33% from the high to $1.1347 which is its price today.
The news of XTZ’s listings on major platforms like Coinbase likely contributed to the bullish price spikes it saw. However, the bearish movements we’ve seen in Bitcoin and the wider crypto market over the past few days have likely contributed to the retracement XTZ’s price is currently having.