Crypto.com, a well-known cryptocurrency exchange, offers support for a variety of crypto assets as well as products related to blockchain technology. You can trade, buy, and sell a wide range of currencies. There are also relatively low trading fees. The company also offers cryptocurrency credit cards and a decentralized exchange. It also has a standalone crypto wallet and an NFT market. Users can also stake their crypto or keep it in a Crypto.com account for a specified period to earn up to 14.5% interest.
Crypto.com is a great option for those who want to buy and hold currency like Bitcoin or Ethereum. The fees are limited to 0.4% and will decrease if you trade a lot or hold a large amount of CRO currency. Crypto.com supports 250 currencies currently and offers advanced order types. You can also trade crypto futures using its platform.
Keep in mind that cryptocurrency markets are volatile. These investments can be risky. You should only invest what you can afford to lose.
Who is Crypto.com for?
Crypto.com is a strong platform for those who are willing to invest in the full potential of its features and perks. Crypto.com’s own cryptocurrency CRO can be held in large amounts, which means lower trading fees and greater rewards for the Crypto.com Visa card.
Crypto.com’s trading interface can be overwhelming if you are new to cryptocurrency. Perhaps you’d prefer a simpler platform, but one that is more user-friendly, such as Coinbase Pro or Gemini, which we recommend for beginners. For those who are willing to risk the more complicated interfaces of both Coinbase Pro or Gemini Active Trader, they offer lower trading fees.
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Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
No matter which exchange you choose, cryptocurrency can be volatile and you could lose a lot of your investment in the short-term. You should not invest more in Crypto.com or any other crypto exchange than you can afford.
Cryptocurrencies at Crypto.com
Crypto.com offers spot trading in more than 250 currencies, and a subset of these currencies is available for stake. Although there are many currencies that can be traded on Crypto.com, it is possible to trade most of the top-traded currencies.
The following assets are popular on the platform:
- Bitcoin (BTC).
- Ethereum (ETH).
- Cardano (ADA)
- Dogecoin (DOGE).
- Polkadot (DOT)
Crypto.com also sells its own coin, CRO. The company offers CRO as a reward for holding a substantial stake. This includes lower trading fees, higher staking rates, and greater credit card rewards.
Trading Experience
Crypto.com’s mobile app is the central hub. It is available for both Android and iOS. The experience will be intuitive and simple if you are used to trading stocks via a mobile app.
The Crypto.com app allows you to quickly see your portfolio and a list of popular assets. You can trade currencies, earn by staking crypto, make cryptocurrency payments, and sign up for a Crypto.com card.
The chart tools don’t provide a lot of information and are very simple. Each currency page has a short overview, and links to more information. This allows you to learn about the currency and blockchain before purchasing.
Crypto.com supports many fiat currencies including the Australian dollar, Canadian dollar, CAD, euro (EUR), pound Sterling (GBP), U.S. Dollar (USD) and Brazilian real (BRL). This flexibility allows users to purchase crypto in multiple countries with their local currency.
Crypto.com Features
Cashback Visa Card
Crypto.com offers a Visa prepaid card that works like a rewards card, and allows you to easily spend your crypto holdings. It’s open to all, but those who buy and keep the native cryptocurrency, CRO, will be the most rewarded.
Five reward tiers can be found on the Crypto.com Visa Card. These are based on your CRO. You can get rebates on certain services like Spotify, Netflix, or Airbnb. There are also free ATM withdrawals and cash back up to 1%.
Although this percentage may sound appealing, it is only possible for crypto enthusiasts who are serious about the subject. You will need to invest PS300,000.000 in the CRO token.
Cash back in this instance means CRO. This could make it difficult if you use the card only for rewards. To access your cash back, you’ll need to convert CRO to fiat currency. This means that your cash back may be subject to unexpected price swings.
High Interest Rates
You can earn interest by lending your cryptocurrency to other people, just like the major crypto exchanges. These loans can then be used by borrowers to verify transactions, for proof-of–stake currencies, or for any other purpose.
Crypto.com’s Earn program allows you to receive up to 14.5% per annum on deposits of more than 30 cryptocurrency. This is dependent on which cryptocurrency you choose to lend out and how much CRO you have in your account.
You have the option to lock in your rate and your crypto for a one-month, three-month, or three-month period. Rates can change. You can choose not to sign up for a term or withdraw your crypto at any time.
These interest rates are more attractive than most savings accounts rates, but they are less risky because they don’t have the Financial Services Compensation Scheme to insure them. You also get simple interest which means that your earnings won’t compound over time.
Crypto.com NFTs
Crypto.com has added a new function to its platform that allows users to sell, buy, and display non-fungible tokens (NFTs) to their platform. NFTs can be described as unique digital assets that often take the form of video or artwork.
You might be interested in investing in NFTs and cryptocurrencies. The convenience of being able to sell and buy both on the same platform could appeal to you.
Crypto.com doesn’t charge any fees to purchase an NFT. However, if you decide to resell the NFT, you will be charged a 1.99% fee. For selling on the platform, creators will also have to pay 1.99%.
Fees
Users who are new to Crypto.com and have not yet sworn will be charged 0.4% for trades that exceed $25,000. Although the fees for trading are lower than those charged by large industry competitors, they are still quite reasonable.
Fees for high-volume traders may be as low as 0.4% as a maker and 0.1% as a taker, but without CRO staking. If you have at least 5,000 CRO, discounts are possible on trading fees. Up to $25,000 monthly volume traders can receive 0.36%. A larger stake will result in lower rates.
Crypto.com does not charge additional per-trade fees so it is very competitive in pricing.
Crypto.com Security
This exchange follows a Defense in Depth culture. This means that security processes are integrated into every aspect of the company’s business. The platform is among the few crypto platforms that has not been hacked.
Crypto.com stores 100% of its user funds offline in cold storage. Ledger is partnering on the security solution. It uses Ledger Vault, an institutional-grade custody solution. This leverages technology like multi-signature keys and hardware security modules (HSM).
Crypto.com cold storage also has an insurance coverage of US$ 500 million that includes custodians, third-party theft, and direct and indirect coverage.
The platform also uses multi-signature keys and HSM to protect its hot wallets. These funds are corporate funds. They are only a small fraction of the total company holdings and are sufficient to meet customers’ withdrawal requests.
Customer deposits are protected by fiat currency security. They are kept in highly-regulated custodian bank account accounts around the world, which benefit from local regulations. FDIC insurance covers USD 250,000 of your money, and protects USD customer USD balances. Crypto.com allows you to keep ownership of fiat funds. This means that Crypto.com and its creditors cannot claim them.
Crypto.com uses Amazon Web Services (AWS) to protect its infrastructure. It comes with the following security features.
- Firewall for web and network applications
- Transport Layer Security (TLS), integrated control of encryption and transit, across all services
- All traffic is encrypted automatically
- Plan for business continuity in case of outages or attacks.
- Logging, monitoring and automatic threat detection. Real-time analytics.
- Other industry-level security measures
These security measures are used in conjunction with internal Crypto.com risk control measures:
- A dedicated internal team screens all deposits for compliance with KYC, AML and alcohol, tobacco and firearms (ATF).
- Request screening is performed on all withdrawals to identify suspicious transaction amounts or velocity.
- Large fiat and crypto transactions can be manually approved.
- AI analytics tools that are industry-leading
- Access control is strict for hot and cold wallets.
- Testing for penetration using multiple attack vectors and external audits.
- HackerOne Bug Bounty is a program that enables responsible vulnerability disclosure
Crypto.com offers two-factor authentication (2FA) that protects your accounts. This includes a combination passphrase, password and biometric (fingerprint, face ID), email verification, and a combination of a passphrase. DeFi wallet allows you to keep your private keys so that you can take control of your funds and not rely on the platform’s security.
Crypto.com is a secure crypto platform that you can trust with your money. It has been assessed by top security auditors and has received numerous security certifications. These certificates have been awarded to Crypto.com:
- ISO/IEC 27001, 2013; ISO/IEC 27701 :2019, PCI :DSS 3.2.1. Level 1 compliance and CCSS.
- SGS has certified ISO/IEC 27701:2019 for privacy risk management.
- Bureau Veritas has certified ISO/IEC 27001 as 2013 for information security management.
- PDC:DSS Standard Level 1 (the highest degree) for compliance with strict requirements in the payment card industry.
- CCSS (Cryptocurrency Safety Standard) – A set of security requirements that are required for storing, accepting and transacting cryptocurrencies.
- Rating Adaptive (Tier 4 rating) – National Institute of Standards and Technology Privacy Framework
- Rating: Adaptive (Tier 4 rating) – National Institute of Standards and Technology Cybersecurity Framework
Crypto.com adheres to the highest security standards and takes security of users’ funds and data very seriously. It is therefore one of the most secure crypto platforms available.
Pros and Cons
| Pros | Cons |
| A large selection of crypto assets. | Credit and debit purchase fees are quite high. |
| If you fund your account using cash transfers, fees are lower. | Some services are not available in the U.S. |
| High security. | There is no crypto-to-crypto trading |
Conclusion
Crypto.com is an excellent choice for crypto traders who are looking for a platform that charges low fees and supports many currencies. This platform is best for people who are comfortable managing their financial accounts through a mobile app. It may also be a good choice for those with intermediate cryptocurrency knowledge. It is also the optimal choice for security purposes.
Crypto.com isn’t as customer-friendly as other cryptocurrency exchanges. Instead, expect a primarily self service experience. Crypto.com may be the right choice for you if that’s what you are used to.
