- Crypto.com offers Australian users the application and exchange protection from unauthorized transactions.
- The exchange offers users goodwill protection with an upper limit of $250,000.
- Users are protected from hacks, phishing attacks and unauthorized withdrawals on the Crypto.com app and exchange.
- Crypto.com’s native token suffered a price drop despite the recent announcement.
Crypto.com has offered Australian users its exchange and application, protection from hacks, phishing scams and unauthorized transactions. Proponents believe that the announcement is one of the key factors that could fuel a bullish narrative for Crypto.com’s native token.
Crypto.com offers users protection from withdrawals up to $250,000
Crypto.com revealed its Account Protection Programme (APP) for Australian users. The new policy update is for users of the Crypto.com App and exchange.
If users lose funds in a hack, phishing attack or unauthorized withdrawals, Crypto.com would reimburse to the tune of up to $250,000. The policy document details the terms and conditions of the programme.
Benefits of APP apply to users who have satisfied necessary KYC requirements and varies across markets. Crypto.com would determine whether an authorized transaction qualifies for reimbursement before offering goodwill protection.
In the event of an unauthorized withdrawal of cryptocurrencies and fiat currencies from a KYC verified Australian user’s Crypto.com wallet, the user could qualify for reimbursement.
Proponents expect the announcement of the Account Protection Programme could fuel optimism among investors. Still, CRO price has dropped by nearly 5% over the past 24 hours.
Technical analysts have evaluated Crypto.com price and forecast a sharp recovery. For instance, @DaCryptoGeneral believes that CRO price could hit $0.49 before its next bullish impulse.
$CRO (4H); price trend is back bullish.
— CRYPTO GENERAL (@DaCryptoGeneral) February 2, 2022
Expecting the price to target $0.38 demand zone before the next impulse move, #CRO will look to target $0.49#Bullish @cryptocom pic.twitter.com/letb6WxEj5
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: BTC declines as resistance emerges near all-time high
Bitcoin and Ethereum are approaching their key support levels, and a sustained close below these marks could lead to further declines.
TON set to launch synthetic Bitcoin to boost its DeFi solutions
TON revealed its plan on Thursday to launch a synthetic Bitcoin token on its blockchain, allowing users to trade, stake, and earn yield using BTC. Following the announcement, TON is down over 3%.
Maker Price Forecast: MKR could stage 40% rally
MakerDAO is up 2% on Thursday and could be set for a 40% rise in the coming weeks if it successfully maintains an extended move above the descending trendline of a falling wedge. On-chain data also supports the bullish outlook after a four-month-long decline.
USDT market cap crosses $120 billion as stablecoins continue their uptrend
The stablecoin market cap continued its uptrend in October, characterized by USDT reaching a $120 billion market cap, according to a CCData report on Thursday. This indicates that investors are preparing liquidity to fuel more demand.
Bitcoin: New all-time high at $78,900 looks feasible
Bitcoin price declines over 2% this week, but the bounce from a key technical level on the weekly chart signals chances of hitting a new all-time high in the short term. US spot Bitcoin ETFs posted $596 million in inflows until Thursday despite the increased profit-taking activity.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.