What are Bitcoin and BTC?
Bitcoin is a peer-to-peer payment network and a form of digital money. It operates without a central authority or bank; managing transactions and issuing bitcoins is carried out collectively by the network.
The asset is bitcoin, or BTC. A bitcoin can be divided into smaller units: The smallest unit is a satoshi, equal to one hundred-millionth of a bitcoin.
How to set up Bitcoin rewards in the Crypto.com App
US users who meet specific eligibility criteria may receive Bitcoin rewards on holdings in the Crypto.com App.
Basic flow:
- Open the App, create your profile and verify your identity.
- Add Bitcoin by depositing it from an external wallet or buying it in the App using your preferred local funding method.
- Go to the rewards section, allocate your selected Bitcoin balance, review the terms and confirm.
Once set up, eligible Bitcoin rewards may be distributed directly into your account based on your participation and current platform rates.
How can you add Bitcoin before allocating it?
If you deposit Bitcoin from an external wallet, select 'Deposit' > 'Crypto' in the App, choose the cryptocurrency and use the deposit address or QR code shown.
Always check that the token and address are supported and correct. Trying to deposit a non-supported token may result in loss, and crypto transactions are irreversible. If it’s your first deposit into the Crypto.com App, you may want to try a small amount first.
Once the transaction is on the blockchain, Bitcoin (BTC) deposits require 2 confirmations before the deposit appears in the App.
What should you review before confirming?
Before you allocate Bitcoin, review the selected balance, the terms and the platform rates shown at that time. Eligibility, participation and current platform rates may affect the rewards you receive.
Services, features and other benefits referenced in this article may be subject to eligibility requirements, token holdings, and may change at the discretion of Crypto.com.
