Crypto.com is a leading cryptocurrency exchange platform that supports some of the leading cryptocurrencies out there currently. Users have the liberty to buy, sell, and trade a wide range list of currencies, and enjoy somewhat low trading expenses. Furthermore, the company has some of the most exciting crypto products we have seen so far, including cryptocurrency credit cards, a decentralized trading platform, a standalone crypto wallet, and an NFT marketplace.
Thanks to this incredible platform, users can deposit their crypto, or hold it in a Crypto.com wallet for as long as they desire, to earn up to 14.5% interest. Some of the leading digital assets supported by the platform include Bitcoin and Ethereum. So if you’re looking to add these assets to your crypto portfolio, you’ll love this Crypto.com.
The trading fees charged by Crypto.com is as low as 0.40% and drops with increased trading volume or a substantial holding of the CRO currency. Crypto.com presently supports up to 250 currencies and provides an advanced order type. Similarly, users have the opportunity to barter crypto futures on its platform.
Note that the cryptocurrency market is a volatile one, and these investments are deemed high-risk, so it is advisable to only invest money you can afford to part ways with. Trading in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) are considered highly risky and uncertain, as the markets could be extremely unpredictable. to this end, it is essential to seek the advice of a crypto expert before making and taking any financial decisions.
Read as we take you deeper into what Crypto.com is and why it is a leading platform for trading digital assets.
Company Overview
Crypto.com was established in Hong Kong in 2016. It currently provides its services to over 10 million customers worldwide. With support for more than 250 cryptocurrencies, there is no shortage of digital assets to invest in. As of right now, Crypto.com provides its services to traders in over 90 countries.
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78% 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 forex or CFDs on margin involves a high degree of risk and may not be suitable for all investors. There is a possibility that you may suffer a loss equal to or greater than your entire investment.
CFDs are complex instruments and involve a high risk of losing money quickly because of the leverage effect. 68% 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.
The elaborate list of currencies supported on this platform coupled with low pricing, and other supplementary features make Crypto.com desirable for novice to intermediate cryptocurrency traders. Still, novices may find the abundance of details overwhelming.
Without mincing words, Crypto.com is best for those who desire to achieve more with their cryptocurrency than just simply buying and holding. It is an ideal space for traders and individuals who wish to make use of crypto as an actual currency, not just an investment.
Pros Explained
- A comprehensive list of authorized cryptocurrencies: Support for over 250 currencies with spot trading, futures, and smart order types.
- No hidden charges, competitive fees with unbeatable deals available: Crypto.com offers robust trading fees up to 0.40%, with discounts available.
- Backing for the space of cryptocurrency products: Crypto.com aids cryptocurrency exchange, trading, and staking. It also provides traders with a credit card and a crypto wallet, and also enables users to invest in NFTs.
Cons Explained
- Chances are you would pay more fees unless you hold and use $CRO: Crypto.com users with a substantial possession of $CRO can get discounts on their trading expenses.
- Poor customer service delivery: Customer grievances meet slow and below-quality customer service response.
- Reduction in trading fees can be confusing to navigate: Crypto.com’s trading fee discount tiers may be complicated to understand.
Crypto.com: Supported cryptocurrencies
This platform supports more than 250 currencies for spot trading, with another subset supported for staking. Although we would like to provide you with the list of the supported currencies, you can be sure of being able to buy and sell most of the high-value currencies you find on other exchanges.
Popular assets available on the platform include:
Crypto.com also has its native token, called CRO. Should you possess a substantial number of CRO coins, the company rewards you with lower trading fees, higher trading interest rates, and higher credit card dividends. And like we mentioned earlier, trading fees at Crypto.com start at 0.40%. Again, high-volume traders and those with a large CRO stake are entitled to fees as low as 0%.
Crypto.com: Trading Experience
The central hub for Crypto.com is its mobile app, which is available for Android and iOS devices. If you are familiar with trading stocks using a mobile app, you’ll find the experience spontaneous and straightforward. Crypto.com app avails you with a quick view of your portfolio and a list of popular assets. The mobile app features all the essential outlines to help trade currencies, earn through trading your crypto, make payments with cryptocurrency, or enroll for a Crypto.com credit card.
It is also equipped with chart tools that are moderately easy to use and provide access useful data. Note that each currency’s page includes a summary and links to more detailed information so you can understand how the blockchain and currency operate before buying.
Crypto.com also supports different fiat currencies, some of which are the Australian dollar (AUD), Canadian dollar (CAD), Euro (EUR), Pound Sterling (GBP), U.S. dollar (USD), and Brazilian real (BRL). Thanks to the flexibility of the platform, traders across several countries can seamlessly buy and sell cryptocurrencies.
Crypto.com: Trading fees
Traders with a total monthly trading amount of less than $25,000 and no $CRO staking will pay 0.4% on trades. But even though trading fees charged by Crypto.com is a lot less when compared to other platforms, there are other brilliant exchanges out there that charge even lower fees.
Higher-volume traders can be entitled to fees as low as 0.04% as a maker or 0.1% as a taker without $CRO trading. Discounted trading fees are provided when you hold at least 5,000 $CRO in your wallet. At that point, traders with up to $25,000 in monthly volume pay 0.36%. Keep in mind that rates decline with bigger stakes.
Let us also add that there there are no per-trade fees added, so Crypto.com is competitive when it comes to pricing.
Crypto.com: Robust security
Crypto.com employs several security measures, such as multi-factor authentication (MFA) and whitelisting, to keep its trader’s accounts safe. The platform also recommends that traders set a strong password and personal online security practices to help preserve their accounts.
When trading on Crypto.com, always keep in mind that cryptocurrency trades can’t be reversed, so it’s uncertain you’ll recover any lost crypto if your account is breached. To beef up its security, Crypto.com uses active compliance monitoring and stores customer deposits offline in cold storage to help prevent hacks. Another brilliant way this company ensures users’ security is that they partner with local banks in the U.S. to provide $250,000 in FDIC insurance on U.S. dollar balances.
How to open a Crypto.com account
Opening a Crypto.com account is one of the easiest things to do. Here, let’s take you through the process.
- To create a Crypto.com account, download the Crypto.com app from the Google Play Store or Apple Store.
- Open the app, enter your email and choose a password.
- New Crypto.com accounts are verified using information such as your name, a picture of your photo ID, and a selfie. After that, you’ll be required to link a payment mode, such as a bank account.
- If you’re linking a bank account in the United States, you’ll be asked to enter your (KYC) details to verify your information, including your name, contact information, and Social Security number.
- Fully verified users can deposit funds and make withdrawals up to Crypto.com’s daily and monthly limits.
Note: The new account setup process, including KYC verification, typically takes less than ten minutes.
Crypto.com: Customer Service
Crypto.com customer service is accessible through the help page, email, and live chat. Unfortunately, there are no options for phone support on Crypto.com. While customer service is available by email and chat, several traders complain of slow responses and no help offered in resolving account problems.
Crypto.com: Customer Satisfaction
Crypto.com gets a low customer review overall and has a rating of 2.2 out of 5 stars on Trustpilot. A vast amount of reviews rests heavily on poor customer service experiences, locked accounts, and trouble with withdrawals. Others highlighted hacked accounts and loss of funds, which is concerning.
Nevertheless, keep in mind that poor customer service delivery is common among cryptocurrency platforms, and Crypto.com isn’t an exception. That said, it’s important to consider Crypto.com to be a self-service website, as customer support isn’t necessarily helpful. Crypto.com suits individuals who are comfortable with online financial products and won’t require much assistance.
Account Management
Thanks to Crypto.com’s intuitive and user-friendly interface, traders have the opportunity to effortlessly view their accounts and assets in the mobile app. Using the app, traders can seamlessly review transfers, manage their bank accounts, make crypto trades, and track their Crypto.com credit card balance.
How does Crypto.com compare to other crypto exchanges?
Crypto.com and Coinbase are two of the most popular exchanges in the U.S. And to be honest, Crypto.com offers a more extensive list of tradable assets and lower trading fees when compared to other exchange platforms, Coinbase inclusive. On the flipside, Coinbase is easy to navigate, and the trading experience is beginner-friendly, unlike Crypto.com.
However, considering your needs, Crypto.com could be a better choice. This is a breakdown of notable differences between Crypto.com vs. Coinbase:
- In terms of trading fees, trading on Crypto.com attracts fees up to 0.40%. On Coinbase, trading fees go as high as 0.50%.
- Crypto.com offers more than 250 virtual currencies, while Coinbase supports just 158.
- Coinbase provides an instinctive, user-friendly platform. This makes the platform super easy for users to navigate than Crypto.com.
- Crypto.com and Coinbase could function as different trading and investing goals.
- Depending on your requirements and experience, you may opt to create an account with both.
Our verdict
Crypto.com is a decent option if you’re looking for a platform that caters wholly to your trading needs. We love that the platform charges users reasonable trading fees. And yes, the platform supports a large variety of digital assets (250 cryptocurrencies) you can start trading right away.
It is ideal for individuals who are certain about operating a financial account through a mobile app and may be suitable for those with intermediate cryptocurrency experience. Like any other cryptocurrency exchange platform, customer service isn’t a strong suit for Crypto.com, so strategize on a primarily self-service experience. If you’re comfortable with that, Crypto.com could be a suitable option for your needs.
