With over 10 million members from 90 countries, Crypto.com is among the most well-known names in the cryptocurrency sector today. You may recall Crypto.com from their Super Bowl ad starring LeBron James or acquiring the name rights to the Los Angeles Lakers home arena, formerly the Staples Center.
Crypto.com, based in Singapore and formed in 2016, offers a diverse choice of crypto assets to trade and a loyalty system centered on its native Cronos (CRO) coin. Crypto.com provides traders with the entire crypto experience, making it suitable for both beginners and seasoned traders.
What Is Crypto.com?
Crypto.com is a major cryptocurrency trading exchange with offices in 90 countries. It is one of the major exchanges in terms of trading volume, and it is well-known for its Crypto.com Visa debit card. Even if you’re not in the crypto industry, you’ll recognize them through celebrity and enterprise endorsements such as LeBron James, Matt Damon, Water.org, the UFC, and the Paris St. Germain football club.
Crypto.com provides services for all types of users. The program offers a simple approach for newbies to the crypto industry to dip their toes into crypto trading.
Crypto.com offers everything from DeFi staking to margin trading to professional traders. Crypto.com is also a fantastic cryptocurrency exchange for traders that want everything in one easy-to-use software. Instead of moving assets between DeFi exchanges or OpenSea for NFTs, Crypto.com consolidates everything onto a single platform.
- Over 250 different cryptocurrency assets are purchased, traded, and held.
- The whole crypto ecosystem is available, including an NFT marketplace, crypto staking, and a crypto Visa debit card.
- You can reduce trading costs by staking Cronos on the site.
- There is no live customer service, which may result in a lengthy wait for time-sensitive situations.
- To take advantage of CRO staking, significant cash is required.
- There are no instructional tools available to help novice traders learn about the cryptocurrency market.
Cryptocurrencies Available on Crypto.com
Crypto.com offers over 250 currencies for spot trade, with a subset also available for staking. While there are too many currencies supported to mention them all, you should expect to be able to buy and sell the majority of the most often traded currencies.
Among the most popular assets accessible on the platform are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polkadot (DOT)
Crypto.com also has its cryptocurrency, CRO. If you have a large investment in CRO, you will get cheaper trading costs, greater staking interest rates, and larger credit card rewards.
Crypto.com Trading Experience
Crypto.com’s mobile app, which is available for Android and iOS smartphones, serves as its vital center. If you’re used to trading stocks using a smartphone app, you’ll probably find the process simple and uncomplicated.
The Crypto.com app instantly checks your portfolio and a list of popular assets. The mobile app offers everything you need to trade currencies, earn money by staking your cryptocurrencies, make cryptocurrency payments, and sign up for a credit card. Its chart tools are also simplistic and don’t provide much information. However, each currency’s website offers a quick summary and links to more thorough knowledge, allowing you to learn about the blockchain and currency before purchasing.
Crypto.com supports several fiat currencies, including the Australian dollar (AUD), Canadian dollar (CAD), euro (EUR), pound sterling (GBP), US dollar (USD), and Brazilian real (BRL). This flexibility enables people from many nations to effortlessly acquire cryptocurrency using their native money.
Crypto.com: Fees And Other Charges
Without any CRO staking, new Crypto.com customers will pay 0.4 percent on deals with a total monthly trading volume of less than $25,000. Trading costs are slightly lower than those of several significant industry rivals but not the lowest available.
Without CRO staking, higher-volume traders can qualify for costs as low as 0.04 percent as a maker or 0.1 percent as a taker. Trading costs reduces when you have at least 5,000 CRO in your wallet. Traders with up to $25,000 in monthly volume pay 0.36 percent at that point. Rates fall as the stake is greater. Because there are no extra per-trade fees, Crypto.com offers low pricing.
Crypto.com: Security Feature
To assist user accounts security, Crypto.com employs a variety of security procedures, including multi-factor authentication (MFA) and whitelisting. To help safeguard your account, you should also utilize a strong password and personal online security practices. Because you cannot undo cryptocurrency transactions, it is doubtful that you will be able to retrieve any lost crypto if your account is compromised.
Crypto.com employs rigorous compliance monitoring to avoid breaches and losses and holds customer deposits offline in cold storage. It also collaborates with local banks in the United States to offer $250,000 in FDIC protection on US currency deposits.
Crypto.com’s wallet is another feature enthusiasts of decentralized finance (DeFi) will like. This cryptocurrency wallet is a non-custodial wallet, which means you have complete control over your private keys. It supports over 100 popular coins and allows you to import existing wallets like Ledger or MetaMask. Crypto.com is another option. Earn money from your wallet and trade assets. Moreover, if you value having control over your private keys, it’s a great crypto wallet and a benefit of this exchange.
The NFT Marketplace
Crypto.com, like many other exchanges, Crypto.com has jumped on the NFT bandwagon and has its own NFT marketplace. This allows makers to sell their NFTs, while collectors may purchase and display their NFTs. Crypto.com, like other markets, employs a drop-based approach to release NFT collections. It is not as massive or as extensive as markets such as OpenSea, but it is a valuable tool for trades these days.
Cryptocurrency Loans Backed
Crypto.com allows you to borrow money using your cryptocurrency as a credit line. You can borrow up to 50% of the value of your crypto assets, which include PAX, TUSD, USDC, and USDT. The loan-to-value (LTV) ratio determines your APR. Borrowing reductions are also available if you stake at least $40,000 in CRO tokens. There is no payment deadline; like other crypto-backed loans, you don’t need a credit check, and approvals are quick. APRs can range from roughly 2% to 12%. However, this depends on your LTV ratio. On their website, you may use a simple borrowing calculator to compute your total monthly interest.
Customer service at Crypto.com offers a help website, email, and live chat. Customers of Crypto.com do not have access to phone assistance. While customer support is available via email and chat, numerous customers have complained about delayed answers and a lack of help addressing account issues.
Crypto.com receives average customer feedback and is rated 2.2 out of 5 stars on Trustpilot. Most bad reviews center on poor customer support, frozen accounts, and withdrawal issues. Others have expressed worry about compromised accounts and lost payments. Cryptocurrency exchanges with poor customer support are widespread, and Crypto.com is no exception. Because customer care isn’t always helpful, it’s best to think of Crypto.com as a self-service website. However, it’s probably better for people who are familiar with online financial goods and don’t require much guidance.
Crypto.com is a fantastic option for cryptocurrency traders searching for a platform with minimal costs and many supported currencies. It’s suited for folks with intermediate bitcoin knowledge and expertise comfortable managing a bank account using a mobile app. Customer assistance, like other cryptocurrency exchanges, is not Crypto.com’s strong te, so expect a mostly self-service experience. However, if you’re okay with that, Crypto.com could be a good fit for your requirements.