Gift cards.. Read this before you buy any with the Pay feature!!!
If I'm off base here, please correct me.
There's the Pay feature in the CDC app and you can get up to 10% cash back if you buy gift cards by spending CRO shares.
Let's say you have the Jade card which gives you 3% CRO back on all transactions, so why would I buy a gift card with my CRO shares? My first thought, it seems like something I may do when CRO returns to +0.20
You'd spend less shares and it might be worth it to stock up on gift cards because I always buy for friends and family around Xmas time. I was going to get the gift card anyway, but what's stopping me going to Walmart, physically buy the cards I want, then get 3% on the entire transaction at the store.
Seems like a con if the cash back is less than your current CRO % cash back, and on top of that you're spending your CRO shares, and last time I checked, multiplication and compound interest work when you're bloated with shares. Why would I spend CRO shares when I can swipe Jade at the store, not costing me any of my shares and I get 3% CRO back on the entire transaction.
Am I crazy? It just sounds like a rip off. My investment strategy is long term hold of CRO, so it just doesn't jive.
I'm aware there are other coins you can get gift cards with, but you won't get any CRO back.