Quick Demo: Transferring and Staking CRO in Crypto.com DeFi Wallet

hello everyone uh we talked about the crypto.com main at launch and the d5 wallet which is a

non-custodial wallet in the previous videos uh people had been asking me to post a

very quick demo of you know transferring uh cro and also about staking

so i'm just making a very very quick demo of how to create a new crypto.com d5 wallet a non-custodial wallet

how to transfer cro without any fees or with very very low fees from crypto.com app or exchange into the d5 wallet

how to stake it and when you stake it what all you will go through what all screens you will go through

a very quick demo on the same okay let's look into it so for this video we are assuming that

you watched episode 7 or 8 and you registered in crypto.com mobile app or the exchange and got cro already in

those wallets now we're going to create a new defy wallet i've explained what a d5

wallet on custodial wallet is in my some of my previous videos so basically

it's a mobile app so we're going to download the crypto.com d5 wallet mobile app

this is different from the crypto.com mobile app um so when you download it there are two options one is to either

create a new wallet or import an existing wallet we're going to create a new wallet so click on the

create new wallet and accept the terms and conditions once you do that it'll ask you to set up

a six digit passcode you can set up a success passcode and enable touch id and after that it will ask you to uh

reveal the uh the the phrase the recovery phrase this is a 12

word phrase not a 12 character phrase 12 word phrase that you need to write down somewhere so

it's basically 12 words in a sequence three to five letter words you will get 12 words in a sequence you

need to write it down this is your recovery phrase with this 12 word phrase in that

sequence anybody can recover the wallet uh if you lose your phone you can basically record it in a new phone

that's why this is for note it down you can also note it down later but note it down and keep it in a secure place

now we have created a defy wallet that's all it is now we're going to send cro from

crypto.com mobile app to the d5 wallet before the main at launch on 24th till 24th march

you will notice that i'm just going to send it but uh it's just so showing you only the erc20 which is

the ethereum option now if we use the erc20 option and try to send it you notice the fees is almost

200 cro for sending 250 cro faces 200 cro which is 40 after the crypto.com mainnet launch on

25th march from 25th march onwards we have now two options one is the cro main net

and the erc20 so if we use the cro main net and we'll note down the address now we won't use the erc20 now we will try

and use the cro maintenance that's the whole purpose now copy the address from the d5 wallet

go to the mobile app add the wallet address in the withdraw cro option as an external wallet and now

again in mobile app you see that there is two options cro and erc20 copy it into the cro option and it will

say that do you want to do it without the memo obviously because from the crypto mobile app we don't need

a memo so we'll say okay now there will be an email click on the email and

again open the mobile app and it will authenticate your address now address is saved

now notice the fees is point zero zero one cro which is like literally next to nothing it's almost

zero dollars so now if we click on uh withdraw the withdrawal will get submitted and

withdrawal will get processed to your crypto.com d5 wallet it took some time i'll explain it in the end of the video

now the d5 wallet we're going to stake that cro we've just withdrawn from the mobile app to the

d5 wallet so now you can see in the default wallet when i open it my cro has come through now i'm going to

click on earn and then in the earn option it is showing me the cros taking notice it's more than 100 percent that's

because it's the initial stages so i'm going to select all the cro and i'm going to click on stake

and once i click on stake it tells me that there is a 28 day unbonding period which means that if you want to unstake

it it will take 28 days to unstake it and sell it

so i say okay and i submitted and then that's it it gets state now one day later i just opened the

crypto.com d5 wallet to just check how much cro i have accumulated for the 250 cro

so i'm getting 0.2 cro for the 250 cr which means that in every four days i'll get one cro

so that's it that's the cro sticking explained and there is literally zero fees in that now two

key points is that it is very very slow as of now it took me about three hours on the 25th march taking even longer

i think the load is higher and it will become normal over the period of time the staking is showing 100 now i think

it will reduce to 20 so that was a very quick demo uh again we're going to talk about d5

in general and now all the use cases of d5 in detail in in upcoming videos uh one point about

cro the price a lot of people had asked me about the price in crypto everything takes time you have to be really patient

um so you know the the d5 uh there's still a lot of growth left and the the main net has just been launched

so obviously the more use cases there are for d5 the more cryptos that they are being able to bring on to their eco

system and able to offer more products that's when the crypto will grow

so hopefully uh if not like the binance smart chain uh hopefully let's see if we can expect

uh some sort of a similar growth for the fruitful.com main testbelt and i'm also holding all of my crows have i'm still

hodling them in fact so until next time thank you bye