Introduction: Navigating the world of crypto exchanges can be overwhelming. But knowing which exchange to use for different purposes can save you a lot of money and improve your ROI. To make things easier, we have done extensive research on the Crypto.com Exchange to provide you with all the essential facts and data points. Our unbiased review will help you make a qualified decision, comparing its features, fees, security, and customer support against leading competitors. Stay informed with our comprehensive analysis of Crypto.com and see if it right for your needs.
Crypto.com is one of the most popular cryptocurrency exchanges in the world and a great option for those looking to buy and sell cryptocurrencies.
Crypto.com (Foris DAX MT Limited) was founded in June 2016 by Bobby Bao in Hong Kong without any institutional funding. Today Crypto.com has its headquarters in Singapore and a globally distributed workforce with over 4,000 employees.
Crypto.com has over 10 million app downloads and claims to have over 50 million customers around the world. The company offers a broad range of services including a cryptocurrency exchange, crypto wallets, a debit card, merchant payments and much more.
Crypto.com: Signup & KYC
To sign up for a Crypto.com account, visit the website and click on the “Sign Up” button. You will be asked to provide your email address and create a password. Once done, to activate your account, click on the activation link that has been sent to your email address.
You will then have to provide personal information including your full name, date of birth, country of residence and mobile phone number. Crypto.com will send you a verification code via SMS which you need to enter in order to verify your account.
Crypto.com requires all users to undergo a KYC (Know Your Customer) process in order to comply with anti-money laundering regulations. To begin the KYC process, click on the “KYC” tab and then select “Start KYC”. You will be asked to provide some personal information, as well as upload a photo ID. Once you have submitted this information, the review and approval process can take between 3-5 business days.
Once your KYC is approved, you will be able to deposit, trade, and withdraw cryptocurrencies on the platform. Once you have deposited funds into your account, you can then start buying and selling cryptocurrencies.
Crypto.com: Products & Services
Crypto.com offers a suite of products and services that allows users to buy, sell, and trade cryptocurrencies like BTC, ETH, SOL, ATOM, and many others.
1. Crypto.com Spot Trading
Crypto.com spot trading is a service that allows users to buy and sell cryptocurrencies on the Crypto.com exchange. To start trading, simply click on the “Trade” button and select the currency pair you want to trade. For example, if you want to trade Bitcoin for Ethereum, you would select the BTC/ETH pair. Crypto.com offers over 250 cryptocurrencies and 400 trading pairs.
2. Margin Trading
Crypto.com margin trading enables users to trade with more money than they have in their accounts. When margin trading, you will need to put down a “margin”, which is a percentage of the total value of the trade. For example, if you are margin trading with a 2:1 leverage and you want to buy $100 worth of BTC, you will only need to put down $50 as margin, the other $50 will be provided by Crypto.com as leverage.
Margin Trading can result in bigger profits but it also comes with a higher risk. Crypto.com offers up to 10X leverage on Margin Trading. If you are new to margin trading, we recommend that you start with a small amount of money and gradually increase your position size as you get more comfortable with the risks involved.
3. Derivatives Trading
Derivatives are financial instruments that derive their value from an underlying asset. Crypto.com offers several types of derivatives contracts, including futures, perpetual, warrants, options, and swaps. The most common type of derivative is a futures contract, which is an agreement to buy or sell an asset at a future date for a predetermined price. Crypto.com also offers Derivatives Trading with up to 50X leverage.
4. Crypto.com Earn
Crypto.com Earn is a great way to grow your crypto portfolio with little risk. With Crypto.com Earn, you can deposit your crypto and earn interest on it, all while keeping full control of your private keys. There are no lock-ups or deposit limits, and you can withdraw your funds at any time. What's more, you can earn up to 14.5% on your crypto and up to 8% interest on your stablecoins.
To get started with Crypto.com Earn, simply deposit your crypto into your Earn Wallet and choose your preferred interest rate and loan term. Your earnings will be paid out in the same currency that you deposited. For example, if you deposit BTC into your Earn Wallet, your interest will also be paid out in BTC.
5. Crypto.com Pay
If you shop with Crypto.com Pay, you can receive up to 10% cashback in CRO. With Crypto.com Pay, you can shop at your a variety of online stores and pay with crypto. To get started, simply download the Crypto.com App and create a Crypto.com account. Then, link your debit or credit card to your account. Once you've done that, you're ready to start shopping with Crypto.com Pay. Crypto.com Pay is the easiest way to shop with crypto and earn rewards at the same time.
6. Crypto.com NFTs
Crypto.com marketplace is the perfect place for buying, selling, and transferring NFTs. NFTs (non-fungible tokens) are digital assets that are unique and can represent things like art pieces, collectibles, gaming items, or even real estate.
Crypto.com NFTs can be easily traded or transferred, and they offer a convenient way to store your digital assets. If you want to buy an NFT, simply go to the marketplace and browse through the available listings. Once you find an NFT that you like, you can place a bid or purchase it outright. If you want to sell an NFT, you can list it for sale in the marketplace.
Crypto.com offers non-fungible tokens (NFTs) that are minted on the Ethereum blockchain. At the time of writing, Crypto.com fetches fixed-price listings of certain selected collections on Ethereum from OpenSea and LooksRare.
7. CRO Token
The CRO token is the native token used to power the Crypto.com ecosystem. The CRO token can be used for a variety of purposes, such as paying fees, staking, or earning interest. By paying with CRO, you can also get reduced fees on the Crypto.com platform
The CRO token has a max supply of over 30 billion tokens with over 80% of those being in circulation at the time of writing. The price for one CRO token is $0.1 which translates into a fully diluted market cap of $3.2 billion.
8. Crypto.com Visa Cards
The Crypto.com Visa Card is the world’s first crypto-backed visa card. The card allows you to spend your cryptocurrencies anywhere that accepts Visa, with the added benefit of up to 5% cashback paid in CRO.
There are two types of cards available – the Standard Card and the Metal Card. Both cards have no annual fee and offer contactless payments, but the Metal Card comes with a number of additional benefits, including 24/7 concierge service and up to 10% cashback on spending.
To apply for a card, simply sign up for a Crypto.com account and link your debit or credit card. Once you’ve been approved, you can start using your card to spend your cryptocurrencies anywhere that accepts Visa.
The Crypto.com Exchange has a tiered fee structure, which starts at 0.075% for Makers and Takers and goes down to 0.05% with a high enough trading volume or depending on how many CRO tokens you stake.
You are considered a Taker whenyour order is executed immediately and a Maker whenyour order is not immediately matched. If you execute a $100 spot trade, the Taker/Maker fee that you have to pay is $100 * (0.075/100) = $0.075 spot trading fee
2. Crypto.com Derivatives Fees
Derivative fees on Crypto.com start at 0.0170% for Makers and 0.034% for Takers and go down to 0.0260%.
Crypto.com offers a variety of deposit methods that make it easy for you to get started with buying and selling digital assets. You can deposit funds into your account using bank transfer for fiat or crypto transfers for cryptocurrencies. While Crypto.com does not charge fees for USDC deposits via SWIFT/FEDWIRE, your bank may apply a processing fee.
Below are the fiat currencies that are supported for bank transfers:
AUD: Bank transfers via NPP Network & BPAY
CAD: Bank transfers
EUR: Bank transfers on the SEPA network
GBP: Bank transfers via FPS Network
USD: Bank transfers on the ACH network & Wire transfers
USDC: Bank transfers via SWIFT
BRL: Bank transfer via TED/ DOC/PIX
Crypto.com: Withdrawal Methods
Crypto.com offers a few different withdrawal methods to help you get your money out of the platform. You can withdraw funds using a credit or debit card, bank transfer, or crypto wallet.
Withdrawing funds using a credit or debit card is easy and only takes a few minutes. Simply go to the withdrawal page on the Crypto.com website, enter the amount you want to withdraw, and select your card from the drop-down menu. Enter your card details and click “Withdraw”. Your funds will be transferred to your card within a few minutes.
If you want to withdraw funds using a bank transfer, go to the withdrawal page on the Crypto.com website and select “Bank Transfer” from the drop-down menu. Enter the amount you want to withdraw and your bank account details. Withdrawing funds to a bank account incurs a fee of 25 USDC for retail clients your funds will be transferred to your bank account within a few days.
Below we have outlined the withdrawal cost for some common cryptocurrencies:
Bitcoin: 0.0001 BTC
Ethereum: 0.04 ETH
Solana: 0.03 SOL
Cosmos: 0.1 ATOM
Polkadot: 0.1 DOT
Tether USD: 10 USDT
Crypto.com: Apps & Wallet
The Crypto.com app offers an easy way for users to buy, sell, and store cryptocurrencies. Users can also use the app to manage their Crypto.com Visa Card, earn interest on their crypto assets and track cryptocurrencies in real time. The apps are available in multiple languages such as English, French, Hindi, Italian, Russian, Spanish, Chinese, Turkish, and more.
The app is available on both iOS and Android with over 10 million downloads. Both apps have a high rating:
Google Play Store: Over 10 million users and 4.7 stars with 375K ratings
Google App Store: Over 1 million users and 4.4 Stars with 100K ratings
Is Crypto.com Safe?
Crypto.com is a secure platform that uses multiple layers of security to protect users accounts and funds. The platform employs 2FA, SSL encryption, and a host of other security measures to keep account and funds safe.
Crypto.com has a strategic partnership with Ledger that provides institutional-grade custody and that keeps 100% of the cryptocurrencies held by users in cold storage. All transactions are protected by Multi-factor Authentification (MFA) and includes passwords, biometric, email, phone, and authenticator verification.
Users’ fiat currencies are held in regulated custodian bank accounts and U.S. residents funds are held at Metropolitan Commercial Bank and insured up to $250,000. Crypto.com also has multiple security certifications and bug bounties to incentivize security research to discover and receive rewards for disclosing security vulnerabilities. Crypto.com has a perfect 10/10 trustscore on Coingecko even though it was hacked for the first time earlier this year. The hack affected 400 clients who were all reimbursed swiftly.
Crypto.com offers 24/7 customer support via live chat and email. The company also has an extensive FAQ section on its website that covers a wide range of topics related to the use of the platform, including account registration, deposits and withdrawals, trading, and more. In addition, Crypto.com also offers a dedicated customer support phone line for users who need assistance. Customers can also receive support by visiting the main social media platforms of Crypto.com.
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Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.