Crypto.com is an online exchange that supports the trading of over 80 cryptocurrencies. Crypto.com was launched in 2016 and currently provides an App and a crypto exchange to deliver a wide range of cryptocurrencies to traders and investors.
This is a comprehensive Crypto.com review that will give you an insight into the exchange and app. You will learn about the features, pros and cons, security, and charges. The review also includes step-by-step guides on how to join the exchange, make a trade, and transfer your funds. Read along to get a working knowledge of this exchange.
Crypto.com review summary: Crypto.com was founded in 2016 and became one of the pioneering payments and cryptocurrency platforms to accelerate the world’s transition to cryptocurrency. Crypto.com has a well-developed ecosystem with over 5 million users across the world. The platform constantly adding new features and offers to its products including exchange, wallet, app, lending/borrowing platform and crypto debit cards.
The first impression of Crypto.com
Crypto.com is a digital asset platform offering several cryptocurrency products and services. With this exchange and app, you can buy, sell, store, earn, spend, lend cash, and even pay bills with cryptocurrency.
The exchange offers a full exchange platform, suitable for traders who want to benefit from the constantly changing rates.
Crypto.com is a highly secured crypto platform with crypto insurances for their users. Their cold wallets are insured up to 360 million dollars and the fiat bank accounts are insured up to 250,000 USD (for US customers only).
Crypto.com provides traders with exposure to the market’s most popular cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC).
Key features of Crypto.com
- Buy trade and sell over 80 cryptocurrencies.
- Over 5 million users across the world.
- Crypto staking, up to 12% interest APY.
- Advanced trading platform with tools and indicators.
- Volume-based trading fees from 0.16%.
- Multiple payment options such as: Bank Transfer, credit card and Crypto Transfers.
- Track, monitor, and manage your overall crypto portfolio.
Stake 5,000 CRO and receive a free 50 USD CRO bonus
Summary
| Offer | 80+ cryptos. |
| Fees | Maker: 0.04-0.10%; Taker: 0.10-0.16%. |
| Payment methods | SEPA Bank transfer, credit card and more. |
| Staking | Yes, earn interest up to 12% APY. |
| Built-in wallets | Yes, for all cryptos. |
| Insurance | Yes. |
| Bonuses | 10%-100% discount on trading fees (by holding CRO). |
| Registration | Required. |
| API | Yes, automatic trading is possible. |
| Support | 24/7. |
| Email address | support@crypto.com. |
Crypto.com Pros and Cons
| Pros | Cons |
|---|---|
| Low fees | Limited offer |
| Beginner-friendly | Not worldwide available |
| Fiat to crypto | Staking rewards and perks are lowered often |
| Earn interest on your holdings |
Crypto.com offer
Crypto.com exchange allows members to buy, sell, earn, spend cash loans, and even pay bills with cryptocurrency. It supports digital coins including the most popular ones such as BTC, XRP, LTC, and BCH.
The exchange also offers a “soft staking” program to users who have their funds on the exchange. Users get to earn interest from the funds they store on the exchange, without locking their holdings.
The exchange offers various payment methods including Bank transfer, BPAY, Osko, PayID, NPP or credit card.
Guide how to trade on the Crypto.com exchange
Stake 5,000 CRO and receive a free 50 USD CRO bonus
How to create an account?
Here is a guide on how to create an account on Crypto.com.
- Visit the official Crypto.com website.
- Fill in the fields with the correct data: Name, Date of Birth, Nationality, Email and Password.
- Check that you agree with the terms of the Crypto.com Privacy Notice as well as the exchange’s Terms and Conditions. Also, confirm that the data you have supplied is correct and click Create an account.
- Check your email inbox for a verification email containing a one-time-password.
- Login to your account using the one-time-password and change your password to a secure one immediately. Click Submit.
- The last step is verifying your phone number. Select the area code of your country from the dropdown. Input your phone number. A SMS verification will be sent to your phone number. Enter the code and then click Submit.
Your account is ready! You will be redirected to the exchange’s landing page.
Deposit fiat or crypto
Before you can deposit or start trading, make sure you have verified your account as directed on the website.
- Login to your Crypto.com account.
- Select Balance at the top menu.
- Select the crypto asset you want to deposit (e.g Bitcoin or Ethereum).
- Click on Deposit (next to the asset).
- Copy the unique wallet address for the selected coin.
- Transfer crypto from your wallet to the copied wallet address.
Depositing fiat via the exchange is currently not possible, but this is being developed on. You can do this by using a Bitcoin broker. Or you can use the Crypto.com app to deposit fiat by bank transfer or credit card.
How to place a buy order?
- Login to your Crypto.com account.
- Click on Exchange on the top menu.
- On the drop-down menu on the right menu, select the crypto pair you want to buy.
- Enter the price you want to buy the crypto asset e.g USDT.
- Enter the amount you want to sell e.g BTC.
- Review the order to ensure that the details are all correct.
- Click the Buy button to place the trade.
How to place a buy order?
This will be the same as to place a Buy order, but please choose Sell in stead of Buy.
How to do a payout?
To make a withdrawal through the app:
- Click the Transfer button on the app’s home screen.
- Tap Withdraw.
- Select Crypto.
- Select External Wallet (remember you can also withdraw to your Crypto.com app).
- Enter the receiver address (the link that was generated on your external wallet to enable it to receive the funds).
- Select the address from the list and enter the amount.
- Click Withdraw to complete the process.
If you want to do a payout to your bank account, you can choose Bank Account in stead of External Wallet.
Guide how to stake with Crypto Earn?
With Crypto.com you can earn interest with staking your crypto. You can choose to stake your crypto with the app or the exchange.
To stake CRO, you must have an adequate amount of CRO tokens in your CRO wallet in the Crypto.com app.
There are three options for acquiring CRO Tokens:
- Purchase CRO in the Crypto.com app.
- Exchange from another crypto to CRO in the Crypto.com App.
- Deposit CRO from an external wallet or exchange to your Crypto.com App.
Stake your Crypto via the app
- Login to your account through the app.
- Click in the app on the Crypto.com logo.
- Click on Earn.
- Select the plus-sign.
- Select the cryptocurrency that you want to stake.
- Choose how long you want to stake it e.g one month, three months, etc. (the longer, the higher your return).
- Read the terms and conditions and check that you agree with them.
- Choose the amount you want to stake and select Confirm.
Stake your Crypto with the exchange
- Navigate to Stake & Earn.
- Click on Stake CRO to receive full benefits.
- Select a suitable package.
- Click Review.
- Confirm your choice to finish up.
Verifications and Limits
Crypto.com requires all users to verify their identity per the KYC requirements. The exchange offers a two-level verification: starter and advance.
The information requirements for the starter are First and last name Nationality, Date of, birth, Email, and Mobile number to receive a one-time passcode (OTP).
A starter account has limited features: Depositing, tradeing and withdrawing crypto have a limit equivalent of $5,000 per day
As you continue to familiarize yourself with the platform, you will need to complete the verification process that meets Crypto.com KYC requirements, and upgrade to the advance account.
You will need to submit a photo of your ID and a Selfie. With the advanced account, you can deposit any time without limit, and trade digital assets.
Stake 5,000 CRO and receive a free 50 USD CRO bonus
Crypto.com Fees and other costs
Crypto.com exchange uses a maker and taker fee model. The fee model is based on tiers that depends on your 30-day trading volume. The total volume is calculated in USD.
The fees starts at 0.16% and gradually reduces based on volume, which is competitive in the market. Here are the fees:
| LEVEL | 30D Trading Volume | MAKER | TAKER | MAKER (10% OFF) | TAKER (10% OFF) |
|---|---|---|---|---|---|
| Level 1 | $0 – $250,000 | 0.10% | 0.16% | 0.090% | 0.144% |
| Level 2 | $250,001 – $1,000,000 | 0.09% | 0.15% | 0.081% | 0.135% |
| Level 3 | $1,000,001 – $20,000,000 | 0.08% | 0.14% | 0.072% | 0.126% |
| Level 4 | $20,000,001 – $100,000,000 | 0.07% | 0.13% | 0.063% | 0.117% |
| Level 5 | $100,000,001 – $200,000,000 | 0.06% | 0.12% | 0.054% | 0.108% |
| Level 6 | $200,000,001 and above | 0.04% | 0.10% | 0.036% | 0.090% |
As you can see, you can get at least a 10% discount on the trading fees by holding the CRO token. This discount can be as much as 100% depending on how much CRO you stake.
Crypto.com Debit Card
Crypto.com offers 5 different debit card (visa card) types that comes with various benefits if you are staking CRO. The benefit depends on the amount of CRO you stake.
Get a cashback reward on all purchases using the card range from 1% (on the free card) to 8% on the highest card. You can use this card to make payments on various markets for products and services that accept VISA card.
Other benefits include a cashback for Shopify, Amazon Prime and Netflix.
Is Crypto.com safe?
Crypto.com is one of the most reputable and popular exchanges. The platform currently has over 5 million users across the globe (October 2020). They also reached an all time high of 24 hour user signups in 2021.
The exchange also has a large trading volume which shows that people trust Crypto.com. The exchange is currently ranked within the top 25 on CoinMarketCap with a trustscore of 6.3.
Crypto.com also keeps 100 percent of user cryptocurrencies in cold storage. The exchange has also partnered with Ledger and, a global leader in security and infrastructure solutions for blockchain applications and cryptocurrency.
Crypto.com has a total of 360 million insurance coverage for the cryptocurrency assets on its platform. This insurance provides an extra layer of protection for its consumers.
The exchange uses bank accounts that are secured and regulated for fiat storage and transactions. Users, therefore retain the ownership of their fiat currencies in bank accounts. Crypto.com and its creditors cannot claim the funds.
Crypto.com FAQ
What are the Crypto.com fees?
The fees start at 0.16% and gradually reduce based on volume, which is competitive in the market.
Is Crypto.com safe to use?
Crypto.com is a highly reputable exchange with more than 5 million users across the world. The exchange also offers insurance coverage that provides an extra protection layer for the consumers.
Which payment methods are supported by Crypto.com?
Crypto.com supports Bank transfer, BPAY, Osko, PayID, NPP, Credit or Debit Card.
How can I contact Crypto.com?
You can contact Crypto.com support through the email: contact@crypto.com
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