Hello and welcome to my review of Crypto.com, a popular cryptocurrency exchange platform. In this review, I’ll be taking an in-depth look at Platforms’ features, user experience, security measures, fees, and more.
I’ll also share my personal experience using the trading platform to buy and sell various cryptocurrencies. So, let’s dive in and see what Crypto.com has to offer!
Crypto.com
Summary
Crypto.com Exchange is a cryptocurrency trading platform. It offers a wide range of trading pairs, including fiat-to-crypto and crypto-to-crypto. The platform has a user-friendly interface, advanced trading tools, and low fees. Users can also earn rewards through staking and trading.
Crypto.com: Key Specifications
| Key Point | Description |
|---|---|
| Type | Digital Exchange and Trading Platform |
| Year Founded | 2016 |
| Headquarters | Hong Kong |
| CEO | Kris Marszalek |
| Cryptocurrencies Supported | 250+ |
| Fiat Currencies Supported | 20+ |
| Trading Features | Futures, Spot, Margin, Lending, Staking |
| Payment Methods | Bank transfer, Credit/Debit cards, ACH, Crypto |
| Products and Services | Crypto trading, debit card, crypto earn, crypto credit, crypto wallet, NFT marketplace |
| Security Features | Two-factor authentication, cold storage, biometric authentication, insurance, phishing code |
| Mobile App | Available for iOS and Android |
| Exchange Volume | Over $1 billion daily |
| Community Size | Over 10 million users |
| Funding Rounds | Total of 7 funding rounds, with over $1 billion raised |
| Partnerships | Visa, UFC, Aston Martin Cognizant Formula One Team, and more |
| Awards and Recognitions | Best Crypto App 2020 (BlockFi), Top 10 Best Crypto Wallets 2021 (Coin Bureau), and more |
| Regulations | Licensed and regulated in multiple jurisdictions, including the US, EU, and Hong Kong |
Crypto.com Exchange Overview
Crypto.com is a cryptocurrency exchange platform founded in 2016. The exchange offers a range of services, including spot trading, margin trading, and derivatives trading.
Users can trade a variety of cryptocurrencies, including Bitcoin, Ethereum, and many more. Crypto.com also offers a mobile app for Android and iOS devices.
The exchange is known for its competitive fees and user-friendly interface. It also supports a variety of features, including staking, lending, and a cryptocurrency Visa card.
Pros and Cons
| Pros | Cons |
|---|---|
| Wide variety of cryptocurrencies | Limited fiat withdrawal options |
| Multiple payment methods | High fees |
| Range of products and services | Overwhelming for beginners |
| Competitive interest rates | Not available in all countries |
| User-friendly mobile app | Centralized exchange |
| High level of security |
Crypto.com Supported Cryptocurrencies
Crypto.com supports over 250 cryptocurrencies, making it one of the most comprehensive crypto platforms available.
Some of the popular cryptocurrencies supported by Crypto.com include Bitcoin, Ethereum, Binance Coin, Cardano, Polkadot, Chainlink, and more.
The Exchange regularly adds new cryptocurrencies to its platform, allowing users to diversify their portfolios and take advantage of emerging trends in the crypto space.
Read: Best Fiat-to-crypto Exchanges
Crypto.com Fees
Crypto.com charges a trading fee of 0.075% for new users who do not hold any CRO staking and have a total monthly trading volume of less than $250,000. Although the trading fees are relatively lower than some other popular platforms in the industry, they are not the lowest available.
However, higher-volume traders can enjoy lower trading fees without the need for CRO staking, ranging from zero as a maker to 0.05% as a taker. Discounted trading fees are also available for users who hold at least 1,000 CRO in their wallet, with rates starting at 0.0728% for those with a monthly trading volume of up to $250,000. The rates decrease as the stake size increases.
Furthermore, Crypto.com does not charge any additional per-trade fees, making it a competitive option in terms of pricing.
Crypto.com Security
Ensuring the safety and security of its customers’ accounts is a top priority for Crypto.com. To achieve this, the platform uses various security measures, such as multi-factor authentication (MFA) and whitelisting, to help keep customer accounts secure.
It is also compliant with global security standards, including the Payment Card Industry Data Security Standard (PCI DSS) and the ISO 27001 standard for information security management.
Furthermore, The Exchange is licensed and regulated by reputable authorities, including the Financial Crimes Enforcement Network (FinCEN) in the United States, the Australian Securities and Investments Commission (ASIC), and the Malta Financial Services Authority (MFSA).
Crypto.com Payment Methods
Crypto.com offers a range of payment methods to allow users to buy and sell cryptocurrencies.
These payment methods include bank transfer, credit card, debit card, crypto deposit, wire transfer, SEPA transfer, ACH transfer (US only), and Faster Payments (UK only).
This range of payment methods makes it easy for users to deposit funds into their accounts and start trading.
Crypto.com Trading Features
Margin Trading
Margin trading allows traders to borrow funds from the exchange to increase their buying power and potential profits. Crypto.com Exchange offers up to 3x leverage for margin trading, which means that traders can borrow up to three times their account balance to trade with.
The exchange charges a daily interest rate on the borrowed funds, and traders must maintain a minimum margin level to keep their positions open. Margin trading carries a higher level of risk, and traders should always understand the risks before participating.
Derivatives Trading
Crypto.com Exchange offers derivative trading, which allows traders to bet on the price movements of various cryptocurrencies without actually owning them. The exchange offers perpetual contracts, futures contracts, and options contracts with up to 20x leverage.
OTC Trading
Crypto.com Exchange offers over-the-counter (OTC) trading, which allows traders to buy and sell large amounts of cryptocurrencies outside of the public order book.
OTC trading is ideal for high-net-worth individuals and institutions that require large amounts of liquidity. The exchange offers competitive pricing and personalized service for OTC trades.
DeFi Wallet
Crypto.com Exchange has a built-in DeFi wallet that allows users to store, send, and receive various decentralized finance (DeFi) tokens. The wallet is non-custodial, which means that users have full control over their funds and private keys.
The wallet also supports staking and earning for various DeFi tokens, allowing users to earn rewards for their holdings.
Staking and Earn
Crypto.com Exchange allows users to stake various cryptocurrencies to earn rewards. The exchange also offers a range of Earn products, which allow users to earn interest on their cryptocurrency holdings.
Users can earn up to 14% APR on their staked assets, and the exchange offers flexible terms and rewards for staking and earning.
Related: Best Crypto Staking Platforms
Trading Bots [DCA and Grid bot]
The Exchange has two types of trading bots – the Dollar Cost Averaging (DCA) bot and the Grid bot.
The DCA bot allows users to automatically buy a set amount of cryptocurrency at regular intervals, while the Grid bot allows users to set up a grid of buy and sell orders to capture profits from market volatility. The bots are fully customizable and offer users a range of strategies to choose from.
Read: Best Crypto Trading bots
Lending
Crypto.com Exchange allows users to lend their cryptocurrency holdings to earn interest. The exchange offers a range of lending products with various terms and interest rates.
Users can earn up to 12% APR on their lending investments, and the exchange offers flexible terms and repayment options. Lending can be a low-risk way to earn passive income on cryptocurrency holdings.
Crypto.com NFT Marketplace
Crypto.com Exchange has an NFT marketplace that allows users to buy, sell, and trade various non-fungible tokens (NFTs). The marketplace features a wide range of NFTs, including art, gaming items, collectibles, and more. The marketplace offers competitive pricing and a secure platform for NFT transactions.
Users can pay for NFTs using cryptocurrency or fiat currency, and the marketplace supports a range of different cryptocurrencies.
The marketplace also features a robust verification process to ensure that all NFTs listed for sale are authentic and unique.
Related: Best NFT Marketplaces
Crypto.com Visa Card
The Crypto.com Visa Card is a debit card that allows users to spend their cryptocurrency at over 70 million merchants worldwide. It comes in different tiers with varying rewards and benefits based on the user’s staking level.
Crypto.com Visa Card offers different tiers of rewards and benefits based on the amount of CRO cryptocurrency users hold and commit to holding. Obsidian has the highest rewards of 5%, while Frosted Rose Gold and Icy White offer 3%, Royal Indigo and Jade Green offer 2%, and Ruby Steel offers 1%. Midnight Blue has no rewards.
The lockup benefits offer higher rewards for larger lockups, while non-lockup benefits are more accessible but offer lower rewards. There is also a monthly CRO rewards cap of $50 for Royal Indigo and $25 for Jade Green.
The card offers up to 5% cashback rewards on select merchants and categories. It’s issued by Metropolitan Commercial Bank (Member FDIC), which protects users’ funds with FDIC insurance up to a certain amount.
Crypto.com Customer support Review
The company offers multiple channels for support, including a Help Center, Live Chat, and Email Support. Some users have reported longer than expected wait times for responses, but overall, the majority of reviews suggest positive experiences with Crypto.com’s customer support.
Additionally, the company offers a comprehensive FAQ section and a community forum. Here, users can find answers to common questions and discuss issues with other members.
How to Get Started [Open Account] with Crypto.com Exchange?
- Go to the Crypto.com Exchange website.
- Click on the “Sign Up” button.
- Enter your email address, choose a password, and agree to the terms and conditions.
- Verify your email address by clicking on the link sent to your email.
- Complete your personal information, such as your name and address.
- Provide additional verification documents, such as your ID and proof of address.
- Wait for your account to be approved.
- Once approved, fund your account by depositing cryptocurrency or fiat currency.
- Start trading on the Crypto.com Exchange.
Comparison: Crypto.com vs Kucoin
| Factors | Crypto.com | KuCoin |
|---|---|---|
| Fees | 0% to 0.5% for trading fees (depending on trade volume) | 0.1% for both maker and taker fees |
| Supported Cryptocurrencies | 300+ | 700+ |
| Trading Features | Margin trading, OTC trading, derivatives trading, and limit and market orders | Spot trading, margin trading, copy trading, DCA, Grid bots |
| Security | Two-factor authentication, cold storage, and insurance protection | Two-factor authentication, cold storage, and security audits |
| User Interface | Beginner-friendly, with a simple and intuitive interface | User-friendly, with an intuitive interface |
| Mobile App | Available for iOS and Android | Available for iOS and Android |
Final Thoughts
In conclusion, Crypto.com is a popular and reputable platform for buying, selling, and storing cryptocurrencies. The platform offers a wide range of services, including a mobile app, a Visa Card, an exchange, staking and earning opportunities, and an NFT marketplace.
It has a user-friendly interface and offers competitive fees, making it an attractive option for beginners and experienced traders alike.
FAQs
Is Crypto.com Safe?
Crypto.com has implemented robust security measures to ensure the safety of its users’ funds and data. The platform uses two-factor authentication, biometric authentication, and device verification to protect user accounts from unauthorized access. Additionally, it stores the majority of users’ funds in cold storage
Is Crypto.com supported in the USA?
Yes, Crypto.com is supported in the USA. The platform has a subsidiary called Foris Inc. that operates in the country and is registered as a Money Services Business (MSB) with the Financial Crimes Enforcement Network (FinCEN). This allows Crypto.com to operate legally in the US and offer its services to US-based customers.
What is the withdrawal fee for Crypto.com?
Crypto.com allows users to withdraw cryptocurrencies for free to their own wallets, subject to certain limitations. However, if you withdraw to an external wallet that is not owned by you, Crypto.com will charge a fee that varies based on the cryptocurrency being withdrawn.
Related:
