Crypto.com Review

Crypto.com is one of the most popular cryptocurrency platforms for customers looking for a wider variety of features on a cryptocurrency exchange. Crypto.com supports spot trading, derivatives, staking, crypto interest, farming, NFTs, crypto loans, and cashback through its prepaid card.

As of now, the platform offers more than 250 cryptocurrencies and serves over 10 million customers worldwide. Crypto.com calls itself the world’s fastest-growing crypto app for good reason.

It is one of the only few crypto exchanges in the world to have never been hacked, thanks to its premium security features. Crypto.com can be used by both beginners and veterans alike to grow their portfolio while receiving rewards of up to 14.5% on their crypto assets and 8% cashback on using its dedicated Visa card.

Crypto.com has quickly risen in terms of popularity because it enables secure buying, selling of crypto at true cost. Apart from 250+ cryptocurrencies, the platform also offers to buy, sell, store, send, and tracking of 20+ Fiat currencies using bank transfers or credit and debit cards.

The dedicated Crypto.com exchange allows users to trade with confidence with the benefit of deep order book liquidity in all market conditions. The exchange offers the speed of a 2.7m TPS matching engine and 50-microsecond core latency and is fully compliant with leading authorities.

The unique platform also thrives on the motto of “DeFi Made Simple”, through its offerings like DeFi Wallet, DeFi Earn and DeFi Swap. Started in 2016, the company has grown into a team of 3000 employees, insurance coverage of 750,000,000 U.S. dollars, and a user base of 10 million.

Read ahead as we delve deeper into the various features, pros and cons that Crypto.com comes with.

Platform features

Crypto.com plans on becoming a world-changing platform, accelerating the world’s transition to cryptocurrency. It offers multiple features and benefits aligned with this vision, some of which are listed below.

• The dedicated App allows users to track portfolios, send coins to Crypto.com Exchange, withdraw cryptocurrencies to external deposits and manage deposits on the platform
• Crypto Earn program allows depositing crypto and earning up to 8% cashback (up to 14% for stablecoins), paid weekly in deposited crypto
• Crypto Credit allows secure crypto loans with up to 50% TLV
• Exchange for trading top cryptocurrencies with deep order liquidity, true costs, lowest maker and taker fees in the industry
• Referral program for Exchange, awarding up to $2000 referral bonus and 50% commission on trading fees for a year
• Exclusive Crypto.com NFT collections by top-notch artists, musicians, athletes, and brands where users can buy using their credit or debit card, sell collectibles in the dedicated Marketplace, and start bids at $0.
• Syndicate offering traders access to top cryptos like BTC, DOT, and ETH at up to 50% off
• Supercharger pool for App and Exchange users to deposit CRO into and earn popular DeFi tokens as rewards. Reward allocations are calculated daily during Charing Period and based on liquidity provided by users.
• DeFi Swap fork of Uniswap V2 allows users to connect personal Ethereum wallet for simple and effortless ERC-20 token swaps
• DeFi Earn for users to receive returns from depositing tokens into the protocol with the highest APY at the time of deposit; currently integrated with Aave Lending V2, Yearn Earn V2, Compound, Cosmos Staking, native CRO Staking.
• Price for easy tracking of the latest token prices, market movement, market capitalization ranking and token information.

What we like:

• Minimum trade starts at $1 for Bitcoin, variable for other cryptocurrencies
• Users are not charged with any trading fee on the platform
• Industry-leading AI analytics tools deployed
• Transactions using debit/credit cards are charged at 2.99% transaction fees
• 250 cryptocurrencies currently offered for trading
• No crypto-to-crypto trading pairs facilitated
• Dedicated internal team to scan all deposits for KYC, AML, and ATF compliances
• Users enabled to use their own digital wallets
• Mobile app for using Crypto.com available supported on both Android and iOS
• Chat-based customer support services are offered alone to resolve most issues
• Tax support enabled
• Withdrawals subjected to screening to flag suspicious transaction amounts and velocity
• Penetration testing via numerous attack vendors and external audits
• Large transactions follow manual approvals
• Hacker One Bug Bounty program for responsible vulnerability disclosure
• Strict access control measures for cold and hot wallets alike
• Two-factor authentication, passphrase, passwords, biometric verification, email and phone verification enabled
• Mobile-first user interface both for beginners and veterans

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What is Crypto.com

Founded in 2016, Crypto.com is a global cryptocurrency exchange serving more than 10 million traders across 90+ countries. The platform offers a vast suite of services including crypto staking and rewards, visa cards that offer additional perks, decentralized finance (DeFi) products, a non-fungible token (NFT) marketplace and more.

Crypto.com also has a dedicated university portal giving access to several educational guides on cryptocurrencies and trading in general.

The platform is available across iOS and Android devices. It boasts of one of the lowest maker and taker fees in the industry along with one of the most secure interfaces that have never been hacked yet.  The highlight of the Crypto.com platform is the high number of cryptocurrencies and fiat currencies it offers, besides offering crypto loans in some geographies.

Crypto.com prides itself on offering crypto transactions at “true cost”, enabling players to trade for free, without any additional trading costs for the first 30 days. Traders also have access to a wide variety of crypto goods and services that they can purchase with up to 8% cashback using Crypto.com prepaid Visa Cards.

About the Platform

The online platform supports investors at all levels in their investing experience and expertise through several crypto products. Users can buy, sell, trade, spend, store, earn, loan and even pay bills with cryptocurrencies using Crypto.com.

The digital asset giant is slowly gaining more and more popularity across the world because of its wide-ranging offerings combined with low fees, high interests, and assured security. The Hong Kong-based platform is considered reasonably safe by a wide majority of users.

Origin and History

Crypto.com was founded in Hong Kong in 2016 and has grown into one of the largest cryptocurrency exchanges in a few years only. It was originally launched as Monaco Technologies in June 2016 by its present CRO Kris Marsazalek. The first offering of the company was completely free from any fees. It started with a slogan, Spend Anywhere.

Within a year, Monaco had launched its own token MCO, funded via an ICO that took place between May 18 to June 18. The ICO was able to raise around $26.7 million worth of cryptocurrencies through the sale of MCO tokens alone.

In July 2018, Monaco rebranded itself into Crypto.com, while launching its platform-specific Chain – its own blockchain system – and native CRO at the same time. By late 2019, Crypto.com had already launched its crypto-to-crypto exchange facility.

The idea was to sweep a bigger market share in the crypto trading audience. This was accompanied by platform-specific launches including Crypto.com Pay, Crypto Earn, and Crypto Credit. Crypto.com visa cards were also distributed in the United States.

Crypto.com’s Team

The company launched its non-custodial DeFi wallet and DeFi swap services in 2020. Crypto.com visa card services were expanded to the European market. The MCO tokens were decided to be completely swapped to CRO, directing all visa cardholders to stake CRO tokens to earn rewards here on.

The company continues to be headquartered in Hong Kong though it has multiplied its geographic presence unprecedentedly to encompass Argentina, Australia, Bulgaria, China, India, Japan, Malta, Singapore, The United Kingdom, and the United States. Crypto.com has grown into a global crypto giant within just a few years of its launch and continues to grow its user base as rapidly as ever.

The platform now plans to scale up the distribution and usage of its Crypto.com visa card, besides introducing additional features on the web exchange and developing DeFi and NFT offerings.

Current Market

The cryptocurrency exchange Crypto.com currently enjoys a user base of more than 10 million worldwide. It is fully regulated, meaning that trading on the platform is compliant with all necessary financial and risk prevention regulations.

Crypto.com is presently available across most countries, including the United States, United Kingdom, European countries, Canada, Australia Russia Latin American countries, India, China, along with other states in Asia and Africa.

At the time of writing, the Crypto.com Exchange has recorded a 24-hour trading volume of $2.70 billion or 70,018 BTC and is ranked #11 on the Coin Market Cap platform. The average liquidity recorded is at 638.

Top Features

One-Stop Destination for Crypto Users

You may want to view Crypto.com as more than just a crypto exchange – it is a full-fledged crypto bank in its own right. Besides allowing users to buy and sell cryptocurrencies just like any other exchange, it also enables users to swap cryptos with other users through their DeFi wallets.

At the same time, users have the option to spend their crypto with a prepaid dedicated visa card. This makes Crypto.com one of the best options when considering making payments in crypto. You can also receive payments in crypto, put your cash into an interest-earning account just like a bank, and also get a crypto loan in some countries.

Low Fees

Depositing money into a Crypto.com account through an electronic bank transfer or wire transfer can be done without paying any extra fees up front. At the same time, users can buy and sell cryptocurrencies at their true cost, making Crypto.com one of the few exchanges to provide the best value.

Crypto.com Fees

After you have used the platform for the first 30 days, Crypto.com levies a nominal fee for credit/debit card crypto purchases when using its mobile application. You may also be issued a cash advance fee when using a credit card to buy cryptocurrency.

Crypto.com users are provided enough flexibility to choose the most suitable medium they want for depositing cryptocurrencies in their Crypto.com account, with no added fees.

Easy Conversions

Crypto.com simplifies the process of converting fiat currencies into crypto for users. More than 20 fiat currencies from all over the world including USD, GBP, and EUR are accepted on the Crypto.com platform. Users do not even have to pay hefty fees for such conversions. The availability of fiat currency support may change from one country to another, as not all currencies are supported in all geographies.

Cashback Cards

Based on the volume of CRO tokens a user stakes, Crypto.com offers five different prepaid visa cards that can be used anywhere that accepts visa. Users only have to top them up from time to time before spending money.

These cards offer a range of benefits depending on the amount of CROs staked, besides offering other financial products. The highest offer onboard is the Obsidian visa card that earns 8% cashback, or rather crypto back.

It also provides users with free credits for Spotify, Netflix, Expedia, and Airbnb. To qualify for the Obsidian visa card benefit, users must stake 5,000,000 CROs for at least 6 months.

The base offering starts with the no-stake Midnight Blue visa card that pays 1% back on purchases. There are no annual fees on these cards, and users get a set amount of free ATM withdrawals along with foreign transaction benefits, capped according to the card being offered.

Interests on Earnings

Crypto.com has evolved from just a cryptocurrency marketplace. Today most account holders prefer using the platform because of the high rates of interest they can earn on their digital assets. Due to this feature, it’s not incorrect to call Crypto.com a bank for cryptocurrencies.

Even the lowest interest rates offered on Crypto.com are still higher than the best high-yield savings accounts offered by traditional banks. The maximum interest that users can earn is 14%, but they must maintain high volumes of CRO in their holdings to qualify for this tier.

The interest rates offered by Crypto.com generally depend on how long the money is left in your account, which type of currency you are saving, and the amount of CRO you have staked. Quite simply, you can increase your interest rates by staking more than 50,000 CRO, depositing for three-month terms instead of one month, and investing in stablecoin.

Since stablecoins are associated with specific fiat or cryptocurrencies, you will earn greater interest on them as the currency it is pegged to goes up in value.

Earn Crypto Interest

Gift Cards and Phone Top-Ups

Besides the Crypto.com visa card offering, users can also earn cash back when purchasing gift cards with several popular brands. The amount of cashback earned again depends on how much CRO you have staked. It also varies from one company to another.

Several US gift card brands including Airbnb, Barnes and Noble, and Macy’s are currently supported. Traders can also easily top up their prepaid phones across specified networks using Crypto.com.

Pros and Cons

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How does Crypto.com work?

Crypto.com was founded with a mission to help speed up the world’s transition to cryptocurrency. It began as a simple crypto payment product and has now evolved into one of the largest global hubs for digital assets.

The platform works equally well on desktops as well as mobile applications. Once users have created their accounts and verified their identity, they can proceed to use Crypto.com in two major ways – using the dedicated exchange or the DeFi wallet.

Crypto.com is one of the best gateways for fiat-to-crypto conversions offering the highest value. Traders are charged only a nominal maker/taker fee when using the exchange.

Contrary to this, the decentralized DeFi wallet option enables users to swap cryptocurrencies with other users while giving them full control of their keys. They can also choose to pay higher fees if they want to process their swaps faster.

Staking CRO either on the Crypto.com application or exchange and leaving it for six months undisturbed can bring unprecedented benefits to users along with paid interest. The benefits depend on the volume of CRO staked on the platform.

This means that holding sufficient volumes of CRO benefits players not just in terms of potential currency appreciation but also through platform-specific perks offered by Crypto.com. This is in line with Crypto.com’s original vision of making crypto more accessible to all.

Competitive Fees

Crypto.com falls on the lower end of the spectrum when it comes to trading fees for centralized exchanges. The different financial products on the platform are priced differently. And yet, overall speaking, Crypto.com is one of the cheapest fiat-to-crypto gateways in the industry presently.

The Crypto.com mobile App stands out in this respect, making it very easy to buy sell, send, receive, exchange, and pay using cryptocurrencies. Users can deposit currencies for free leverage the benefit of free crypto to crypto exchanges and conduct free transfers to the Crypto.com exchange as well as DeFi wallet.

But they must pay a nominal fee for crypto withdrawals to an external address. The actual fee charged depends on the cryptocurrency being withdrawn.

The Crypto.com Exchange charges both trading and withdrawal fees. The trading fees depend on the user’s 30-day trading volume. the higher the trading volume, the more the discounts offered. Users can also stake CRO tokens and pay the additional trading fees using CROs themselves. Again, the more CROs you stake, the bigger the discounts you can expect.

Users also receive a bonus of 10% per year on their CRO stakes on the Crypto.com Exchange. To qualify for a fee rebate, they must stake at least 5,000 CRO and pass KYC verification checks. Standard fees are charged on Crypto.com when it comes to cryptocurrency withdrawals. There are no additional fees for cryptocurrency deposits.

For purchasing cryptos directly using your credit or debit card, users usually have to pay between 0% to 3.5%, depending on their geography and jurisdiction.

Contrary to the Crypto.com App or Exchange, the DeFi swap enables users to connect with their personal Ethereum wallet for conducting simple and effortless ERC-20 token swaps. Here, users have to pay 0.3% fees to liquidity providers for supporting the execution of smart contracts.

The DeFi Swap can be easily connected to the Crypto.com DeFi wallet account. Transferring cryptos on the Ethereum network also requires users to pay gas fees. At the same time, they have the option to increase their transaction fees if they want fast or super-fast transaction confirmation speeds instead of average.

Cryptocurrency Credit Cards

Depending on the volume of CRO tokens a user holds, Crypto.com offers a wide range of visa cards for users to reserve and spend their crypto assets. The first card tier is free, while other cards require you to stake a certain amount of CRO tokens. Users are granted a composite metal card with extra benefits, and the benefits only increase with higher stake volumes.

For example – holding less than 5000 CRO for 6 months will bring rewards like a Midnight Blue visa card offering 1% cashback. Holding between 5000 to 49,999 CROS will enable benefits like Ruby Steel visa cards with 2% cashback and Spotify credit, 2% more earnings in interest, and a discount on trading between 10%-20%.

Attractive offers on Crypto.com Cards

Investing between 50,000 to 499,999 CROs offers investors the benefits of Royal Indigo and Jade Green visa cards with 3% cashback and credits for both Spotify and Netflix. This is accompanied by a 4% hike in interest earnings and a trading discount between 40%-60%.

From 500,000 to 4,999,999 CROs, users get rewarded with Frosted Rose Gold and Icy White cards offering 5% cashback along with Spotify, Netflix, and Expedia credits, 4% hike in interest earnings and a 70%-80% discount on trading.

Finally, holding more than 5,000,000 CROs for 6 months only brings benefits to users like the Obsidian credit card with 8% cashback and credits for Spotify, Netflix, Expedia, and Airbnb. This is accompanied by a 4% increase in interest earnings and 90% trading discount overall, among other perks.

See benefits of Crypto.com Cards

Decentralized Exchange

The Crypto.com Exchange is a decentralized and dedicated crypto-to-crypto exchange platform aimed at more experienced traders. The Exchange can be accessed using Crypto.com’s web platform. It allows traders to invest in Bitcoin (BTC), Tether USD (USDT), and Crypto.com (CRO) base pairs. At the same time, users can enjoy the benefits of Derivatives and Margin trading with up to 50x and 3x leverage, respectively.

Crypto.com Exchange has been designed keeping minimalism and easy navigation in mind, but one can safely say that it may not be very easy to handle for complete beginners. Currently, the Exchange allows users to place limit, market, and advanced stop limit/ stop loss orders in a few clicks.

Buying Bitcoin on Crypto.com

Exchange users can also access the Crypto.com Lending feature, purchase newly listed coins at discounted rates with The Syndicates, participate in exciting and highly rewarding competitions in the Trading Arena, and earn high yields by depositing their CRO tokens into Supercharge Liquidity pools.

Traders on Crypto.com Exchange are also eligible for getting extra trading fee discounts if they pay their fees using Crypto.com’s native CRO tokens. The Exchange can easily be connected to your main Crypto.com App account, making it much easier to transfer coins back and forth when making deposits or withdrawals.

Here’s what you can do with the Crypto.com Exchange:

Spot and Margin Trading

Margin trading on the Crypto.com Exchange allows you to borrow Virtual Assets on Crypto.com Exchange to trade on the Spot market. Eligible users can use the margin loan as leverage (borrowed Virtual Assets) to open a position that is larger than the balance of your Account. On the Crypto.com Exchange, traders are required to transfer Virtual Assets as Collateral first into their Margin Wallet.

When borrowing Virtual Assets, you can borrow:

• In the same type of Virtual Assets as your Collateral (for example, your Collateral may be BTC and you may borrow BTC); and
• in a different type of Virtual Asset than your Collateral (for example, your Collateral is BTC and you borrow USDT).

Currently, the only supported trading pair is BTC/USDT.

Leverage is a very powerful tool because it can amplify your gains, but it is also dangerous because it can amplify your losses to the point where your Virtual Assets can be permanently lost and you could still have a liability to the platform.

Derivatives Trading

Crypto.com recently launched its dedicated Derivatives Exchange with the BTCUSD Perpetual Contract using USDC as margin with leverage of up to 50x. Traders enjoy discounted trading fees based on the amount of CRO they staked on the Exchange.

The completely new system architecture comes with one of the fastest matching engines in the industry, supporting 2.7m transactions per second, an ultra low core latency of 50 microseconds, and 5ms end-to-end for consumer use.

Key highlights of the platform are:

• 50x BTC-USD Vanilla Perpetual;
• USDC Collateral
• No Expiry Dates for positions

Crypto.com Exchange users need to complete Advanced level verification to use Derivatives Trading. Only citizens or residents of listed jurisdictions can use the derivatives services presently.

Stake and Earn

Users can deposit their preferred crypto in Crypto Earn to start accruing interest daily and grow their crypto assets. Crypto.com App-approved users except for citizens and residents of Hong Kong SAR, Switzerland, or Malta can participate in Crypto Earn. Efforts are underway to make these products available to these jurisdictions.

There are three holding term options: Flexible, 1-month fixed term, and 3-month fixed term. Users can enjoy a better annual interest rate (APR) when they have CROs staked. Cryptos can also be deposited for different terms. Interest calculations take place daily at UTC 00:00:00.

They are paid out in the same currency as your deposits, and users can see the daily interest from active deposits accumulated in the Crypto Earn home screen under “Total Earnings”.

Syndicate

The Syndicate is a discounted listing platform for the most popular crypto projects where users can buy top coins at up to 50% off by subscribing to new events. The fundraising platform allows promising crypto projects to list their tokens or coins on the Crypto.com Exchange. CRO holders, those who have staked CRO in the Exchange, will receive priority token allocation for these events at a discount.

To participate in the Syndicate listing event/token sale, users must:

• Successfully sign up as a Crypto.com Exchange user
• Stake at least 5,000 CRO in the Exchange account
• Trade the minimum volume required at their CRO staked level on the Exchange in the past 30 days
• Use CRO to receive a 50% discount during the subscription period
• Not be a citizen and resident of the US, China or Hong Kong.

The DeFi Swap

Crypto.com’s DeFi Swap is an all-new DeFi exchange offering by the platform. Users can easily connect the Swap with the Crypto.com DeFi wallet and begin trading the most popular and best-performing DeFi tokens in a non-custodial manner. This allows users to swap coins privately without the danger of compromising their private keys. The DeFi Swap feature can be easily accessed both on the web and mobile app platforms of Crypto.com.

Standalone DeFi Wallet

Offering full control to users of their cryptos as well as keys, the DeFi Wallet on Crypto.com allows them to easily manage over 100+ coins, including BTC, ETH, CRO, ATOM, DOT, LTC, and other ERC-20 tokens. They can also easily import their existing wallet with a 12/18/24-word recovery phrase.

Cryptos can be sent at preferred confirmation speeds and networks based on the number of fees you want to pay. The higher the fees, the faster the transaction. Users can earn interest on 35+ tokens with Yearn Earn V2, Compound, Aave, Crypto.org Chain Staking and Cosmos Staking, with no lock-up terms and great returns.

The DeFi Swap feature enables users to farm and swap DeFi tokens directly from this DeFi wallet. Liquidity providers can enjoy the benefit of swap fee sharing and bonus yields for selected pools. All private keys are encrypted locally on the user’s device with Secure Enclave, protected by biometric and 2-factor authentication.

While Crypto.com is the easiest place to resort to for buying, managing and growing crypto assets, the DeFi wallet stands out because it is non-custodial. Users have full control of their private keys and can send crypto to anyone at preferred confirmation speeds.

In case the user has an existing wallet on another application like Ledger, Metamask or MyEtherWallet, they can also easily import these wallets by entering their 12/18/24-word recovery phrase in the Crypto.com DeFi Wallet app.

NFT Marketplace

Crypto.com enables buying, selling, and showcasing NFTs from leading creators and brands. The NFT marketplace on Crypto.com features a comprehensive list of bestselling creators and collectibles. The highly curated NFT marketplace was launched in March 2021 and has already achieved several key milestones.

Last year, Crypto.com worked with multiple artists, musicians, brands, celebrities and more and launched many notable NFT collections including Snoop Dogg’s “A Journey with the Dogg”, Aston Martin Cognizant F1 Team’s “A New Era Begins”, and BossLogic’s “Greater Heights”.

They also accelerated the growth and distribution of the works of creators through sell-out NFT drops like Ugonzo’s “PsychoKitties: The New Era”, and Morysetta’s “Collage Mirage” Morysetta”.

NFT marketplace on Crypto.com

Crypto.com partnered with UFC and Philadelphia 76ers on historic collections to bring the history for fans to own, collect and share. In all, Crypto.com launched 220+ NFT drops, including 12 exclusively by Crypto.com itself – the Cryptoverse Series (Lion Master, Shibakun, Miner Mole), CryptoCards, festive drops like Cryptmas Bingo, and their first PFP collection of 10,000 “Loaded Lion” NFTs.

Out of these, the Loaded Lions collection reached $25 million+ trading volume and sold out on the drop day itself. Crypto.com NFT users can now also become creators and mint their own artworks on the platform for sale.

The community that Crypto.com is creating is only gaining more and more popularity with time, and currently stands at a creator base of 10,000, a follower base of 46,000 and a growing Discord community.

Visit NFT Marketplace on Crypto.com

Buying and Selling NFTs on Crypto.com

There are different weekly limits for credit/debit card purchases on the NFT marketplace, depending on whether you buy directly from drops or from the marketplace.

Drop purchases:

• $10,000 weekly card limit

Marketplace purchases:

• $500 weekly card limit if your account is verified through SMS
• $1,000 weekly card limit if your NFT account is connected to your Crypto.com App
• $10,000 weekly card limit if your NFT account is connected to your Crypto.com App that is staking CRO and/or holds a Ruby Steel Crypto.com Visa Card (or higher card tier)

Crypto.com has a queue system in place for limited-time drops in order to ensure stable performance and improve purchase experiences. 60 minutes before the drop starts, traders are taken into a waiting room with other users looking to purchase the drop.

10 minutes before the drop starts, people in the waiting room will be taken to the queue where queue numbers get assigned randomly before the beginning of the event. Once they are redirected to the drop event page, they can start the purchase process.

Payments on Crypto.com NFT are supported by credit/debit cards as well the Crypto Pay feature. There are a variety of filtering and sorting options in the marketplace collection and brand pages to find the best NFTs for you.

Buyers do not pay additional fees for making purchases. They must simply select the NFT they like and pay the exact amount of the listed price. For secondary sales, if you are the seller, normally a 5% processing fee will be deducted from the total purchase amount to cover the operational costs of the platform.

Royalties will be deducted and shared with the creator of the item. The exact amount of royalties (as a percentage of the total purchase amount) is decided by the creator.

Crypto Pay

Crypto.com Pay enables users to pay with crypto and earn rewards besides the benefit of instant settlements with zero gas fees. The powerful payment solution offers generous cashback and other rewards for paying and getting paid in crypto.

They can pay any merchant with crypto.com Pay Checkout, shop for Pay Gift Cards, top-up mobile airtime, send crypto to friends for free, and earn up to 10% back in CRO funded by the network. The intuitive payment gateway allows businesses to accept BTC, ETH, CRO, USDC and other popular cryptocurrencies.

Traders can conveniently shop at leading online retailers using Crypto.com Pay, such as Travala, TIME, Unstoppable Domains, and Coin Tracking, paying with 30+ tokens including CRO, ETH, BTC, DOT, and DOGE. The Gift card directory is also quite exhaustive, spanning 300+ brands in 30+ countries and 300,000+ shops. The availability of these gift cards varies by country.

Some of the top brands falling under this feature are Apple iTunes, eBay, Starbucks, Caribou Coffee, Bath and Body Works, Airbnb, Adidas, Barnes and Noble, to name a few.

Crypto.com Pay is supported by over 30 million ERC-20 wallets. Users can easily send invoices and manage payments using the powerful dashboard, which takes only a few minutes to set up. There are no transaction or setup fees, which means merchants can save up to 80% when settling in their preferred fiat currency.

The feature is integrated with WooCommerce, OpenCart, EcWid, Oveit, NopCommerce, and PrestaShop, to name a few.

Variety of Currencies

Crypto.com has one of the widest pools of cryptocurrencies available for spot trading, with an additional subset for staking. Over 250+ cryptocurrencies are supported on the platform, and you can count on being able to buy and sell most of the world’s highest traded cryptos on this platform.

Different cryptocurrencies on Crypto.com

These include Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and Polkadot (DOT). Apart from these, Crypto.com also has its own special offering – the CRO coin. Users holding a significant stake in CRO I rewarded from time to time with lower trading fees, higher interest rates for staking, and bigger credit card rewards.

Apart from cryptocurrencies, Crypto.com also supports a wide variety of Fiat currencies including the Australian dollar (AUD), Canadian dollar (CAD), Euro (EUR), Pound Sterling (GBP), US Dollar (USD), and Brazilian Real (BRL), to name a few. This is what makes the crypto exchange flexible and relevant across countries and geographic regions, contributing to such a wide user base.

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Ease of Use and Interface

Crypto.com has been designed keeping in mind a beginner-friendly crypto ecosystem for simplifying the acquiring, exchange, and spending of crypto. Anyone who is not highly technically equipped can also use the multiple offerings of the platform like the Exchange, DeFi Swap and DeFi wallet to stake, earn, pay and lend.

Central to the Crypto.com trading experience is its mobile application, the platform being a mobile-first crypto exchange. The Crypto.com App is supported by both Android and iOS devices. This makes the platform highly suitable for those users who find it easier to trade stocks using a mobile app.

Easy UI on Crypto.com

The user experience is intuitive and straightforward, enabling customers to view their portfolio and the popular assets available for trade in a single tap each. The Crypto.com mobile app offers every single feature one needs to trade currencies, stake cryptos and earn rewards, use cryptos for payments, or sign up for an exclusive Crypto.com credit card.

The chart tools available on Crypto.com are quite extensive in terms of data but relatively simple to use. You can easily browse over to each currency’s specific page which provides a brief overview of the currency along with detailed information that you might want to be aware of before purchasing it.

Security

Users can rely entirely on Crypto.com when it comes to the security of their transactions as well as personal information. The platform comes with multi-factor authentication (MFA) support along with whitelisting to help keep your account safe. Several personal online security practices are suggested such as the use of strong passwords to protect individual accounts.

The platform ensures robust compliance monitoring to ensure additional safety and security measures. At the same time, customer deposits are stored in offline cold storage to help prevent cyber-attacks and account breaches.

This security solution has been developed in partnership with Ledger and comes in the form of the institutional-grade custody solution offering Ledger Vault. The special vault leverages advanced technologies like hardware security modules (HSM) and multi-signature keys.

The Crypto.com cold storage also comes with additional insurance coverage of $500 million, comprising both direct and indirect coverage of true custodians, physical damage, and third-party theft.

Security is built into every aspect of Crypto.com’s offerings and services, and its systems are stress-tested by leading firms from time to time. The platform also uses Hacker One, a dedicated bug bounty program used to identify weaknesses and errors.

Even the platform’s hot wallets are secured using HSM and multi-key signature features. All the funds kept in Crypto.com’s hot wallets are corporate funds, constituting a small fraction of the company’s total holdings. This has been insured to facilitate day-to-day withdrawal requests from customers. Crypto.com enjoys the reputation of being one of the only few cryptocurrency exchange platforms that have never been hacked.

Fiat currencies are also highly secured on the platform, held in highly regulated custodian bank accounts across the globe. Local regulations are at play when it comes to the security of these fiat currencies. Crypto.com has collaborated with local banks in the US to offer $250,000 in FDIC insurance on balances in USD.

In any case, users are guaranteed complete ownership of their fiat funds, which means that they can never be claimed by either Crypto.com or its creditors.

Coming to infrastructure security, Crypto.com is built on the reliable and secure Amazon Web Services (AWS) cloud, which comes with a protected firewall for network and web applications. It also ensures controlled encryption in transit with integrated Transport Layer Security (TLS) across all services.

The framework ensures automatic encryption of all traffic along with business continuity planning for outages and prevention of attacks. All activities like logging and monitoring can be analyzed in real-time, and threat detection is automated.

Crypto.com itself has dedicated risk controls in place that go in tandem with the infrastructure security measures mentioned above. There is a dedicated internal team on Crypto.com for screening all deposits aligned with KYC, AML, alcohol, tobacco, and firearms (ATF) compliances.

All withdrawals on Crypto.com must undergo request screening. This is done to detect and flag suspicious transaction amounts and speeds. Significantly large Fiat and crypto transactions are manually approved, though the platform also deploys industry-leading AI analytic tools.

Both cold and hot wallets are subject to strict access control measures. Frequent penetration testing is conducted via numerous attack vectors and external audits to ensure a timely response. Crypto.com enables users to protect their accounts not just using two-factor authentication (2FA), but also passphrase, password, or biometric (fingerprint and face ID), email, and phone verification.

Since the DeFi wallet on the platform enables users to keep their private keys, users can also self-custody their funds instead of relying solely on the platform for keeping their funds secure.

Customer Support

In terms of customer support, Crypto.com offers a dedicated health page, email, and live chat services. The platform lacks in terms of phone support for its customers, leading many of them to report slow responses and lack immediate help in resolving account-related problems.

But Crypto.com is certain to work on this shortcoming in the years to come, considering its rapidly increasing user base that has already crossed 10 million. Presently, most customer issues can be resolved using the services currently provided by the platform.

Crypto.com, for the large part, is a self-service website as of now, and customer support may not always be needed. This is why the platform comes across as the best option for those who are comfortable in dealing with online financial products without much external assistance.

Fees and Charges

Crypto.com does not charge traders with any trading or transaction fees for transferring money onto the platform from their bank accounts or automated clearinghouses.

But users must pay significant charges for purchases made with credit or debit cards. In 2021, this fee was pegged at 2.99%.

In December 2021, Crypto.com announced that it had already started enabling instant ACH transactions on its platform. Before that, customers had to undertake a complicated and long process to go through their banks and carry out ACH transfers or wire transactions.

Presently, new Crypto.com users without any CRO staking must pay 0.4% on their trades if that total monthly trading volume is less than $25,000. At this rate, the trading phase is relatively less than most of Crypto.com’s industry competitors, though it is not the lowest around.

When it comes to high-volume traders instead, the fees charged can be as low as 0.04% as a maker or 0.1% as a taker for those without CRO staking. Holding at least 5000 CRO tokens in your wallet qualifies you for more discounts on trading fees. Traders with up to $25,000 in monthly volume are charged 0.36% trading fees. This rate only decreases as your stake goes up.

Crypto.com does not charge any additional fee per trade, which makes it a highly competitive crypto exchange when it comes to pricing.

The following table provides a comprehensive understanding of the Deposit and Withdrawal fees on Crypto.com

Maker and Taker Fees on Crypto.com:

Cryptocurrencies on Crypto.com

Customers can make payments in 22 cryptocurrencies, including CRO, USDC, TUSD, USDT, BTC, ETH, AAVE, BAL, COMP, CRV, DOGE, ENJ, KNC, LINK, LRC, LTC, MKR, REN, SNX, UNI, WBTC, XRP, YFI, SHIB via the Crypto.com app. USDC, TUSD, USDT stablecoins are not available for Singapore users. USDT is not available for Hong Kong users.

Users can also make payments in 28 cryptocurrencies – CRO, USDC, TUSD, USDT, ETH, WETH, WBTC, AAVE, BAL, COMP, CRV, DPI, ENJ, FARM, HBTC, KNC, LINK, LRC, MKR, MTA, NEST, REN, renBTC, SNX, SWRV, TRU, UMA, UNI, YFI – is they pay using other Ethereum/ERC-20 compatible wallets.

Customers can also pay using their own BTC wallets instead. For accepting cryptocurrencies from wallets other than the Crypto.com app, users must visit their merchant dashboard and update payment method preferences in “Settings”. This feature is currently available to EU and UK-region merchants. No technical changes are required in this feature.

Different Types of Cryptocurrencies to buy

The Crypto.com merchant account requires no registration, account maintenance, or transaction processing fees. Fiat currencies settlement and cryptocurrencies settlement are charged at 0.5% each.

Crypto.com strives to be a compliant provider of financial services, working closely with external legal advisors to monitor the developments of cryptocurrency regulations and ensure safe and reliable payment solutions for merchants. Users can request payouts in Bitcoin and Stable coins (USDC, TUSD, TGBP, TCAD, and TAUD). Stable coin transfers are done via the Ethereum network. Merchants can only settle earnings to designated bank accounts or crypto wallet addresses.

Crypto.com has established excellent relationships with multiple leading digital asset exchanges to provide the best rates for merchants and customers alike for calculating exchange rate fees.

How to Open an Account on Crypto.com?

Opening an account on Crypto.com is quite simple. All you have to do is download the Crypto.com App from the Google Play Store for Android users and Apple Store for iOS users.

Once you have downloaded and opened the app, sign up using your email and set a strong password. A new account on Crypto.com will be verified using your name and a picture of your photo ID along with a selfie.

Next, users must link to a reliable payment method out of the options provided on Crypto.com, such as a bank account or a debit/credit card. For US-based users choosing to link their bank account with Crypto.com, a KYC (Know Your Customer) process is mandatory wherein users must verify their identity including their name, contact information, and Social Security number to be able to successfully sign up on the platform.

Only fully verified users will be allowed to deposit funds and make withdrawals as per the daily and monthly limits of Crypto.com.

This may sound like a comprehensive process, but the entire account setup including KYC verification generally takes less than 10 minutes to complete. Just remember to keep all your relevant documents handy, and make sure to read instructions thoroughly beforehand.

Why Crypto.com stands out of the crowd?

Crypto.com offers numerous perks and features when it comes to crypto trading and lending, especially for those who are looking for an exhaustive platform that gives all the features they are looking for under a single umbrella. At the same time, they get proportionately rewarded according to what they spend, such as lower trading fees and more benefits on the Crypto.com visa card.

The best part is that Crypto.com is equally relevant and rewarding for new users and veterans alike. The first thing that catches the eye is the simple and straightforward trading interface. Though there are more beginner-friendly platforms available in the market, none match up to the combination of lower fees and greater benefits that Crypto.com offers.

Is Crypto.com legitimate?

Yes, Crypto.com is legitimate and uses top-notch security measures that are industry-standard or above. It is an ideal platform for those who are new to investing, considering its exhaustive combination of online trading, crypto exchange, mobile app experience, DeFi wallet integration and NFT marketplace.

Significant educational content is available on the platform to help improve and brush up skills as a trader. For both novices and veterans alike, the Crypto.com platform has numerous incentives, insights, and opportunities to thrive. Overall, we can conveniently call Crypto.com a legitimate and friendly trading platform for all sections of investors.

In a nutshell, Crypto.com is right for you if you are looking to invest in over 250+ cryptocurrencies and 20+ fiat currencies. The straightforward fee schedule and easy to navigate interface paired with the best security provisions make Crypto.com one of the most popular platforms to resort to.

Comparing Crypto.com with Top Exchanges

Crypto.com vs Bybit

Crypto.com is not as highly regulated as Bybit, though the latter is not available in the US. While Crypto.com is great both for beginners and experienced traders, Bybit offers a wide range of advanced trading technical analysis. Bybit is not regulated at all. It still manages to offer top-notch security and commits to zero downtime.

Bybit claims to handle 100,000 transactions per second, making it faster than other platforms in the industry. This is one aspect that makes Bybit attract many investors and traders who want to avoid the hassle of server downtime at all costs.

Unique features

Crypto.com is one of the few platforms that have never been hacked due to high institutional-grade security features. At the same time, Crypto.com’s services can be classified into three categories – the mobile App, the crypto Exchange, and the DeFi services. Bybit offers crypto exchange and app services, but it still does not match up to the former’s quality apart offerings.

Leverage, deposits, withdrawals, fee

Bybit offers crypto derivatives exchange up to 100x leverage whereas Crypto.com users enjoy benefits of Derivatives and Margin trading with up to 50x and 3x leverage, respectively.

Bybit has a Dual Price Mechanism so that traders do not suffer from trade/ price manipulation. You can set stop-loss and derive profit at the same time while placing a limit order on Bybit.

Bybit has an in-built Tradingview, including comprehensive indicators. On Bybit, the withdrawal charges vary according to assets (it is 0.0005% for BTC). Crypto.com also enables instantaneous deposits and withdrawals and handles fiat currencies, but Bybit currently does not handle fiat deposits directly.

KYC

There is no KYC process on Bybit unless you want to withdraw 2 BTC per day, but the KYC process is mandatory on Crypto.com for US investors. Both Crypto.com and Bybit offer user-friendly interfaces to users.

Compatibility

Both the platforms are available on a desktop and can be accessed on apps available for Android/ IOS devices.

Customer Support

These two exchanges have dedicated customer support. The customer support service of Bybit operates 24/ 7 whereas, on Crypto.com the customer services are offered in the form of 24/7 live chat. There is no phone support on Crypto.com.

Crypto.com vs Binance

Binance is a cryptocurrency exchange suitable for advanced traders looking to access a wide range of currencies and futures. It has low fees, advanced trading tools, and includes many cryptocurrencies on its list. Like Crypto.com, Binance offers various ways of depositing money into a user’s account. On Binance, you can opt for either crypto-to-crypto or fiat-to-crypto trading.

While Crypto.com is available in most US states, Binance is not available for users in the US. Binance’s fee structure is lower than many other exchanges in the sector. The highest spot trading fee on Binance is 0.1%.

Unique features

While Crypto.com offers features like DeFi Swap and Visa Card cashbacks, Binance offers attractive passive income methods (although these involve various risks). Traders can earn up to 30% APR on certain cryptos by participating in the staking program on Binance. To have consistent rates, you can also put assets into a flexible savings account.

Investors who have adequate experience in the trading market can add liquidity to token pairs to earn income. Make sure that you thoroughly understand the risks while participating in these programs.

Binance includes decentralized finance (DeFi) tokens, Bitcoin (BTC), altcoins, etc. On Crypto.com, users may not be able to do advanced technical analysis, but Binance has an advanced trading interface with charting tools.

Leverage, deposits, withdrawals, fee

Binance offered leveraged tokens for traders to multiply their positions accordingly. Using leverage while trading involves risks, and you must only invest the amount of money you can afford to lose. Crypto.com users enjoy the benefits of Derivatives and Margin trading with up to 50x and 3x leverage, respectively.

Visit Crypto.com Platform

Conclusion

Choosing Crypto.com would mean signing up for a comprehensive platform that acts as a one-stop destination for everything crypto. There are millions of investors worldwide that witnessed enriching trading experiences by using Crypto.com’s unique offerings.

The platform is constantly introducing various innovations and is bringing effective tools to improve the trading experience of investors. Features like DeFi Swap and Wallet are bringing closers to decentralized finance. The dedicated NFT marketplace is also enabling active participation from users in the sphere of cryptocurrencies and NFTs, while facilitating buying, selling, and exchange of NFT artworks.

It is a multi-asset platform that comes with a variety of financial instruments. It has many categories and thus meets the needs of diversified traders and investors.

Crypto.com offers advanced institutional-grade security features such as cold wallets for 100% of funds, hot wallets for corporate funds alone, and compliance with the highest levels of safety for a secure trading environment. Whether you are new to the crypto market or an experienced veteran, the Crypto.com online experience is a good place to start with.

You should utilize the trading opportunities that the platform offers to trade cryptos and easily connect to members of the Crypto.com community. Crypto.com is making every effort to offer the best of features to clients and whether you live in the US, the UK, or any other country where Crypto.com is available, sign up with the platform today to invest in cryptos.

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