Crypto.com Review 2023: Easily Master the Crypto Landscape
Our comprehensive review of Crypto.com uncovers the features and functions that make it a prominent choice for crypto traders to trade cryptocurrency in the market. The exchange provides a significant variety of cryptocurrencies on its highly secured, user-friendly interface. This review uncovers the trading platform’s strengths so traders, new and experienced, can delve into the services offered by Crypto.com without hesitation.
Crypto.com is a popular cryptocurrency and payment website promoting the extensive adoption of cryptocurrencies. The experienced entrepreneur Kris Marszalek controls Crypto.com’s headquarters in Hong Kong. He and three other co-founders, Gary Or, Rafael Melo, and Bobby Bao, founded Crypto.com in 2016, and the user-friendly platform currently has more than 3 million users.
In this Crypto.com review, we will discuss the perks, pros and cons, products and services, Crypto.com fees, and advanced features of Crypto.com.
Crypto.com Summary
| Official Website | https://crypto.com/ |
| Headquarters | Hong Kong |
| Found in | 2016 |
| Own Native Cryptocurrency Token | Yes |
| Listed Cryptocurrency | 90+, but varies country-wise |
| Trading Pairs | 100+ |
| Supported Fiat Currencies | 20+ |
| Supported Countries | 90+ |
| Minimum Deposit | Approx $200, but do vary for various currencies. |
| Deposit Fees | Free |
| Transaction Fees | Low |
| Withdrawal Fees | Withdrawal fees vary depending on the type of cryptocurrency |
| Application | Yes |
| Customer Support |
What is Crypto.com?
Crypto.com, earlier known as Monaco, claims to be operating to promote the worldwide adoption of cryptocurrency. Therefore, the crypto platform was developed to provide various blockchain-powered services and products, including a mobile Crypto.com wallet, MCO Visa card, Crypt.com Token, Crypto Invest services, and debit cards. It launched its crypto exchange in 2019, which included all the above products.
Top Perks of Crypto.com
Crypto.com boasts a variety of features and products for the avid trader. Among these perks are services that cater to enhancing the trading experience of crypto users around the world. Different fees account for the pricing traders pay to access these services and are not expensive compared to other top crypto exchanges that charge hefty fees.
Crypto.com offers many perks other than providing the Cronos CRO token. The more CRO tokens you invest with Crypto.com, the more benefits you will enjoy. Here are a few top perks crypto.com users can enjoy:
One-stop Shop
Many Crypto.com app users may think it is more like a bank account than a brokerage or cryptocurrency platform. Users can buy and sell cryptocurrencies on the crypto website or app and even trade with others via DeFi crypto wallets over the crypto space.
Besides, users can meet their expenses using their prepaid Crypto.com visa card. Users in some countries can also avail of crypto loans.
Low Fees
In this crypto.com review, you will learn that depositing cash into your Crypto.com account through a wire transfer or bank transfer requires no account fees. This crypto exchange allows users to sell and buy cryptocurrency at a genuine cost.
Complete 30 days on Crypto.com exchange’s official website, and you will be charged a low fee for your credit or debit card purchases through its mobile application rather than the high fees levied across the crypto space.
Easy Conversion of Money
Like any other cryptocurrency exchange in Germany, the Crypto.com exchange offers easy fiat currency conversion into cryptocurrency. More than 20 fiat currencies are accepted on this financial platform, including GBP, EUR, and USD. They charge low fees for this conversion. However, depending on which country you reside in, there is a limit on the fiat currency trade after registration.
Cashback Cards
Crypto.com website offers five prepaid Visa Cards. The simple rule is to increase CRO stake to enjoy benefits. The premium Obsidian card offers an 8 percent cashback or crypto back and a bonus. To qualify, users require crypto holdings of 5,000,000 CRO (about $750,00).
If you do not have such a lump sum cash amount of CRO, you can opt for a Midnight Blue card that requires no stake and gives you 1 percent cashback on your purchases. You need to stake 5,000 CRO (about $750) to get the Ruby Steel card and get 2 percent cashback.
Earn Interest
Crypto.com allows users to buy Bitcoin (BTC) and other cryptocurrencies and earn interest at a high rate. Crypto.com’s lowest interest rates give a better yield than the savings account. Earn the maximum interest rate at 14 percent, but only if you qualify with a lump sum cash amount in your CRO staked account.
An increased rate of interest is offered if you stake over 500,000 CRO. Additionally, though flexible terms are available, you can get better rates with the 3-month terms. Institutional investors can invest in stablecoins pegged to US dollars and earn additional interest.
That being said, crypto savings can be risky. Unlike standard savings bank accounts, FDIC insurance is not available here. The cryptocurrency exchange does not guarantee protection as the platform is not FDIC-insured from fraud or theft.
Pros and Cons of Crypto.com
The table below shows the pros and cons of Crypto.com –
| Pros | Cons |
| No annual or ATM fees. | Lacks availability of coins in some countries. |
| Easy money conversion technique. | Poor navigation. |
| Crypto.com Visa card with generous cashback rewards. | High staking requirements. |
| Short lead time. | Limits on certain crypto withdrawals. |
| Earn crypto interest. |
How Does Crypto.com Work?
Crypto.com functions on both mobile device trading apps and desktops. First, sign up on Crypto.com’s official website to open an account and verify your identity. Crypto trades can occur in two ways – via its DeFi wallet app or crypto exchange.
In the case of the DeFi wallet, the decentralized exchange helps users swap crypto with other users of other crypto exchanges. This route offers complete control of the private keys, and a higher fee is required for an even faster DeFi swap.
On the other hand, a low trading fee is charged if you opt for an exchange for crypto trading. Users may contact the 24*7 customer support for any queries through the official website, which contains adequate information on all the Crypto products.
Crypto.com Products
The diverse range of Crypto.com products is for customers and traders to explore, ranging from mobile-friendly trading, NFT marketplace, cards, crypto reward schemes, and more.
Crypto.com App
Crypto.com app is one of the best digital assets products, which enables investors to invest money in cryptocurrency exchanges effectively and efficiently. The beginner-friendly mobile app offers a range of dedicated features, including buying, selling, trading, earning, storing, and paying your loan using cryptocurrencies.
Crypto.com wallet and app have robust security measures and safety since investors worldwide are operating on this exchange to buy Bitcoin, Dogecoin, Litecoin, and other currencies without any risk of fraud. You can buy and sell crypto without the risk of any hidden charges. Here are a few features of the Crypto.com app that you must not miss-
- Earn up to 12 percent per annum on Stablecoins and up to 6.5 percent on crypto.
- Metal Visa Card offers up to 8 percent Rewards/cashback.
- Buy/sell over 100 cryptocurrencies from the app at actual cost without the risk of hidden charges.
- Get instant loans from the Crypto.com app and trade in this cryptocurrency exchange.
- Buy Ethereum (ETH), Bitcoin (BTC), Stablecoins, and Litecoin (LTC) with bank transfers via ACH transfers or credit or debit card purchases.
- Crypto.com’s app also helps cardholders manage their balance by adding fiat or crypto deposits.
Crypto.com NFT
Non-fungible tokens or NFT refers to the class of crypto assets where every token or item is unique. This makes the popular tokens useless as currencies but valuable in other ways, like crypto art. Every non-fungible token is exclusive; hence, they are irreplaceable with other cryptocurrency assets.
Crypto.com’s NFT is the sole NFT market based entirely on the Crypto Blockchain. This is one of the best crypto-related products ever created by Crypto.com. Users can search for curated collectibles that can be converted to NFTs. The exchange works with many famous artists, creators, and brands; some items have been tagged as editions.
Crypto.com Metal Visa Cards
Crypto.com offers another excellent product, the MCO Visa Card. They are designed to link the benefits of debit/credit cards with that of cryptocurrencies. These metal cards were developed in 2018 with the features mentioned below:
- MCO Visa card allows buying, selling, storing, spending, and trading cryptos parallelly with fiat currency.
- No fees on ATMs or crypto withdrawals.
- Tap & Pay feature.
- Very low balance requirements and no annual fees.
- 5% cash back on overseas and local spending without any maximum spending.
- Free shipping.
- 100% rebate on purchases for standard Netflix and Spotify subscription plans.
- 10% cash back on Expedia and Airbnb.
MCO tokens can’t be mined but issued depending on the money deposited in the crypto wallet and the card linked to the account. MCO tokens can be saved in any ERC-20 wallet. The Visa Cards support seven cryptocurrencies and seven fiat currencies, including USD, ETH, and BTC.
Crypto.com Pay
Crypto.com Pay was developed to empower crypto traders and businesses to accept cryptocurrency payments. No processing fees are on payments made on cryptocurrency transactions, but a 0.5 percent fee is charged on payments made through fiat currency.
This comes at an enormous 80 percent discount if you check other popular payment processors. WooCommerce and Ledger’s stores accept payments through this product. Moreover, it has the following notable features –
- Several forms of crypto trading are possible on this product, including derivatives trading, margin trading, spot trading, decentralized token swaps, and OTC trading.
- It is integrated with other websites with additional benefits.
- Runs several campaigns like trading quizzes, contests, and promotions about distributing free crypto to participants.
- This exchange launched its blockchain that emphasizes privacy, speed, and additional economic incentives. However, the blockchain is still under the test-net phase.
Crypto.com Crypto Earn
With Crypto Earn, you can deposit your chosen crypto, earn interest daily, and grow your digital assets. Any deposits paid in CRO on this platform are different from CRO staking. The interest you earn fluctuates with the time length of the staked coins.
Besides, the interest payment is not in fiat money like USD but in staked crypto. This product was not approved in Hong Kong, Sar, Malta, and Switzerland, so it is unavailable in certain jurisdictions.
The app shows the worth of staked coins at the payout time. The terms offered on this app are 1 and 3 months, along with a flexible period. The interest will be more for a more extended period, whereas flexible terms pay the minimum. For a $50,000 stake CRO, you can earn higher rates with an additional 2 percent earnings.
Crypto.com Exchange
Crypto.com exchange launched in 2019, which supports several major cryptocurrencies, like Bitcoin, Ethereum, Litecoin, EOS, XRP, CRO, MCO, Stellar Lumens, and many other Stablecoins and tokens. The exchange provides additional features, like economical trading fees, deep liquidity, institution-level security measures, and special rates that apply to CRO tokens.
Moreover, the exchange also operates the Syndicate, a fundraising platform enabling CRO holders to purchase tokens at a discounted rate. Whatever the exchange earns from this financial platform, it uses those user funds for relevant crypto-related projects.
Users could get a discount of 100 percent on their trading fees depending on their CRO staking and 30-day trading volume. Improved Order Management System and Matching Engine have increased throughput by ten times.
Moreover, the unified Websocket API and REST have made this exchange easy to use. Crypto.com exchange provides a robust risk engine with high derivatives trading leverage margin in margin trading.
There are many benefits of stake CRO coins on this exchange; however, Crypto.com exchange comes with two authenticator verification levels –
Basic: This verification level includes data like name, phone number, and email. Once the user submits this data, they can move freely and access crypto products and services.
Advanced: The advanced trading version requires the submission of identity documents. The deposits have no limit, but Bitcoin withdrawals have a limit. You can withdraw only 100 BTC at a time.
Crypto.com DeFi Wallet
Crypto.com DeFi Wallet is developed to offer secured custody and complete control of the cryptocurrency. DeFi stands for Decentralised Finance. The crypto wallet helps investors store cryptocurrency assets with utmost security and safety and is one of the best crypto wallets out there.
The non-custodial DeFi Wallet app lets traders send cryptocurrency at their preferred network speed. Transaction fees are charged on trading, but they are not required to submit their KYC for using the Decentralized Finance wallet.
DeFi Swap is another Crypto feature designed to enable traders to swap and stake DeFi coins and leverage Decentralized Finance (DeFi) protocols along with a CRO-powered incentivization program.
DeFi Swap is an excellent decentralized protocol created on the Ethereum network with a structure prioritizing trust, usability, and transparency on the crypto wallet. DeFi Swap allows traders to swap ERC-20 and ETH tokens with a simple interface and raise DeFi coins with over 20 times more rewards by staking CRO.
Crypto.com Services
Crypto.com offers services to traders that make the platform a prominent player in the cryptocurrency world. Established as a one-stop platform for providing services vital for traders in the crypto ecosystem, the following are services that integrate the benefits of the crypto market onto the platform:
Crypto.org Chain
Crypto.org Chain is a consumer-based cryptocurrency service based on the Tendermint protocol. The Chain service aims to empower the expanding suite of crypto products. The interface is highly beginner-friendly, removing all the complications of blockchain to use crypto assets and smart-based products effectively. With Crypto.org Chain, users can earn two kinds of rewards:
Block Rewards
Rewards earned for adding new blocks to the blockchain and validating crypto transactions.
Transaction Bonus
These rewards are paid when a validator adds over 66 percent of the pre-commits from different validators in the new blocks they create. This is supposed to provide additional incentives to the users for improved networking and cut down empty block proposals.
Pay For Business
Crypto.com Pay for Business is another payment service that enables users to pay with over 15 DeFi tokens, like BTC, USDC, ETH, CRO, LTC, and many more. With this service, you can receive gift cards from more than 300 brands in over 30 countries. You can shop from leading retailers online, like BC VAULT, Ledger, Coinzilla, and Travala.com.
You can earn rewards based on the category you choose to pay. For instance, if you pay for food and beverages, you get a premium of 10%, which is above the average industry rate of 5%.
Cronos Integration
The Crypto.com cryptocurrency exchange supports the scalable EVM-compatible chain developed by the people at Crypto.org. Cronos supports the following tokens:
- CRO
- ETH
- WBTC
- USDC
- USDT
- DAI
The EVM Chain Cronos runs parallel to the Crypto.org chain and helps the DeFi infrastructure by assisting developers to port trading apps from EVM-compatible chains and Ethereum. With Cronos on board, Crypto.com users can enjoy the following:
- EVM Compatibility
- Scalability
- Ability to work with various Blockchains
Crypto.com Fees
Trading crypto on the Crypto.com website or app could be economical and affordable, depending on how the traders deposit money into their Crypto.com account.
Deposit and Withdrawal Fees
If users deposit crypto in a Crypto.com account, no deposit fee is charged, but if investors withdraw crypto, account fees are charged depending on the cryptocurrency. For instance, in the case of Bitcoin, the withdrawal fee is 0.0004 BTC, whereas, for Crypto.com Coin, it is 100 CRO. These fees are below the average industry fees.
Maker/Taker Fees
Check the below maker-taker fee structure to know fees as per 30-day trading volume: –
For Regular Clients
| Level | 30d Trading Volume (USD) | Maker Fee % | Taker Fee % |
|---|---|---|---|
| Level 1 | $0 – $25,000 | 0.4% | 0.4% |
| Level 2 | $25,001 – $50,000 | 0.35% | 0.35% |
| Level 3 | $50,001 – $100,000 | 0.15% | 0.25% |
| Level 4 | $100,001 – $250,000 | 0.1% | 0.16% |
| Level 5 | $250,001 – $1,000,000 | 0.09% | 0.15% |
| Level 6 | $1,000,001 – $20,000,000 | 0.08% | 0.14% |
| Level 7 | $20,000,001 – $100,000,000 | 0.07% | 0.13% |
| Level 8 | $100,000,001 – $200,000,000 | 0.06% | 0.12% |
| Level 9 | $200,000,001 and above | 0.04% | 0.1% |
For VIP Tiers
| Tier | 30d Trading Volume (USD) | Maker Fee % | Taker Fee % |
|---|---|---|---|
| VIP 1 | > 1% of exchange volume | 0.020% | 0.040% |
| VIP 2 | > 2% of exchange volume | 0.010% | 0.030% |
| VIP 3 | > 3% of exchange volume | 0.000% | 0.020% |
Trading Fees
Generally, trading fees refer to the percentage charged on the value of a trade order. Crypto.com exchange platform charges both takers and makers 0.40 percent for every trade. The fees are significantly above the average industry fees. However, the Crypto.com exchange offers discounts based on the trade volume. More crypto trades imply lower fees!
Staking Benefits and Discounts
Staking crypto refers to locking up crypto coins for a period from which people earn interest. The staking rate varies depending on the duration of the staked coins. On the Crypto.com account, the higher the CRO you stake, the higher the discount rates. Additionally, if you stake more than 500,000, you could earn another 2% on your crypto holdings.
Supported Fiat Currencies by Crypto.com
Crypto.com supports more than 20 fiat currencies, including AUD, BGN, CAD, CHF, CZK, DKK, EUR, GBP, HKD, HRK, HUF, ILS, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD, and ZAR.
Crypto.com has recently added more currencies to the basket – SAR – Saudi Riyal, BRL – Brazilian Real, and TRY – Turkish Lira.
Supported Cryptocurrencies
Here are all the supported cryptocurrencies you can currently use to buy and sell, bank or wire transfer, and store from the Crypto.com app –
- BTC
- LTC
- ETH
- CRO
- ENJ
- BAT
You can check the complete list of supported cryptocurrencies on the official website.
Crypto.com Advantages
With the many products and services offered, here are some advantages that make Crypto.com stand out from the rest of the exchanges available:
Features
- Service – Cryptocurrency exchange, saving, crypto lending, storing, digital wallets, visa cards, etc
- Fees – Taker fees – 0.09% – 0.16%, Maker fees – 0.036% – 0.10%
- Cryptocurrency interest rate – up to 6.5% p.a.
- Stablecoins interest rate – up to 12% p.a.
- Method of payment – Debit/Credit card, PayPal, and Pay
- Deposit fees – Free
- Withdrawal fees – Withdrawal fees vary depending on the type of cryptocurrency
- Security – $360 million cryptocurrency insurance, 100 percent cold storage, and multi-factor authentication
- Mobile app availability – Android and iOS
Benefits
- Verification takes less than 5 minutes.
- Better customer service: The customer service team gets back to the customers within 24 hours to ensure customer satisfaction.
- Buy/sell over 100 cryptocurrencies.
- Open a Crypto.com account for free.
- Available in Europe, the US, Canada, the UK, and Singapore.
- Crypto.com Visa Card requires no monthly maintenance charge.
- Free delivery and contactless Visa debit card.
- Get at least 10 percent cashback on the purchase of gift cards.
Crypto.com Review Conclusion
In this Crypto.com review, we discussed how using the Crypto.com cryptocurrency platforms makes spending and trading in crypto exchanges super easy. It is one of the most beginner-friendly crypto trading platforms under the best crypto exchange list. New traders can also learn from Crypto.com’s educational resources on their web pages.
It uses services other cryptocurrency exchanges offer, such as DeFi Swap, Crypto Wallet, Exchange, Earn, Lending, Spot Trading, and Staking, and provides 100% cold storage security. All these make Crypto.com a unique one-stop shop for all the best crypto exchanges.
FAQs
Is Crypto.com Legit?
Yes, Crypto.com is a perfectly regulated and secured financial platform, making it legit. US clients’ fiat balances are insured by FDIC for up to $250,000, providing safety and assurance of user or corporate funds on this platform. There is no record of thefts or hacks on the Crypto.com website or app.
Is My Money Safe on Crypto.com?
Yes, the assets safety measures on Cryto.com include 2FA or two-factor authentication and 100% cold storage. The exchange is partnered with Ledger, a top hardware wallet provider. It has 2013:ISO IEC 27701 and ISO IEC 27701:2019, Level 1 regulatory compliance.
Is Crypto.com Coin a Good Investment?
Yes, cryptocurrency investing on Crypto.com is suitable for everyone willing to spend, store, trade, and save crypto. The fees are lower than the average industry rates. The platform has many cryptos to offer, including CRO coins. The more coins you stake in your investment accounts, the more benefits you enjoy.
Is the Crypto.com Card Worth It?
Yes, being exceedingly beginner-friendly, Crypto.com’s trading platform is easy to exchange, acquire, and spend crypto. Anyone can access services like Defi crypto wallet Send and Swap, Staking, Pay, Earn, Lending, and many more with the Crypto.com card. Crypto.com allows users to buy cryptos at exchange rates without charging additional fees.