Crypto.com has launched a groundbreaking sports event trading product, offering American users a chance to predict and trade on the outcomes of sporting events like the Super Bowl. This innovative platform, termed “Sports,” allows users to take part in unique event contracts and is backed by Crypto.com-Derivatives North America, a CFTC-regulated exchange. Users can win a share of a $1 million prize by registering and making their first trade. Additionally, if they join through a friend’s referral code, both parties receive $10 in CRO. With plans to increase sports sponsorships and elevate visibility, Crypto.com aims to attract non-crypto enthusiasts and enhance the adoption of cryptocurrency in everyday transactions.
Crypto.com Launches Innovative Sports Event Trading Product
Crypto.com has made headlines by introducing what it claims to be the first-ever trading product for sports events. This new feature, named “Sports,” allows users in the U.S. to make and trade their predictions on various sporting outcomes, including the Super Bowl. This development was officially announced in an email to PYMNTS.
This innovative trading product resembles other event contracts that Crypto.com offers on their CFTC-regulated exchange, Crypto.com-Derivatives North America. It aims to engage sports fans and crypto enthusiasts alike. To celebrate the launch, Crypto.com is giving users a chance to win a share of $1 million in the Cronos Crypto Basket when they create an account and make their first Sports trade.
Additionally, if new users register with a friend’s referral code, both the new user and their friend can receive $10 of CRO after completing their first Sports Event Contract trade.
Crypto.com has been expanding its presence in the sports arena, sponsoring major events like Formula One and partnering with teams such as the Philadelphia 76ers and the Ultimate Fighting Championship. According to Steven Kalifowitz, Crypto.com’s Chief Marketing Officer, this strategy has significantly increased the company’s visibility, bringing its user base to over 100 million.
As the cryptocurrency Market continues to thrive, with Bitcoin hitting record highs recently, Crypto.com’s new trading features are designed to make crypto more appealing to everyday consumers.
As awareness and adoption of cryptocurrencies grow, companies need to navigate the regulatory landscape to ensure consumer confidence and enhance payment options.
With its new Sports product, Crypto.com is set to capture the attention of both sports fans and crypto investors, marking an exciting evolution in how predictions on sports outcomes can be traded.
Tags: crypto, crypto.com, cryptocurrencies, sports, sports predictions, PYMNTS News
What is the Crypto.com Sports Event Trading Product?
The Crypto.com Sports Event Trading Product lets users trade on sports events like it’s a Market. You can buy and sell shares based on how you think a team or athlete will perform.
How do I start using this trading product?
To get started, you need to sign up for a Crypto.com account. Then, you can access the trading product from the app or website, where you can find different sports events to trade on.
What types of sports can I trade on?
You can trade on a variety of sports, including football, basketball, and soccer, among others. The available events can change based on the season and upcoming games.
Do I need any special skills to trade on sports events?
No special skills are needed. While it helps to know about the sport and teams, the platform is designed to be user-friendly, making it easy for anyone to get involved.
Is it safe to trade on Crypto.com?
Yes, Crypto.com takes security seriously and uses advanced measures to protect your data and funds. However, as with all trading, there are risks involved, and it’s important to trade responsibly.
