July 13, 2024
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Crypto.com Crypto Exchange Review: Pros and Cons

Crypto.com Crypto Exchange Review: Pros and Cons

Welcome to my Crypto.com review, where I’ll guide you through this exciting cryptocurrency trading platform. By March 2024, Crypto.com is known for being affordable and offering a lot for everyone. It has over 250 cryptocurrencies, no fees on many assets, and a top-rated user experience. But, it also has its complex parts, like using its own token, Cronos (CRO).

In this review, I’ll share the pros and cons to help you see if Crypto.com is right for you.

Key Takeaways

  • Crypto.com supports over 250 cryptocurrencies, making it one of the most diverse exchanges available.
  • The platform boasts a high user rating of 4.50 out of 5 stars, reflecting strong customer satisfaction.
  • There are no trading or transaction fees when using ACH transfers for purchases.
  • Crypto.com offers various prepaid Visa cards with benefits based on the amount of CRO staked.
  • Users can earn interest on over 20 different cryptocurrencies, with some rates going up to 12.5% APY.
  • Despite its robust security measures, the platform did experience a security breach in early 2022.
  • Cash back rewards on the Crypto.com Visa card range from 1% to 5%, depending on the CRO amount staked.

Introduction to Crypto.com

Crypto.com is a top platform for both new and seasoned cryptocurrency traders. It was started in 2016 in Hong Kong. Today, it helps 70 million users in 90 countries. The platform offers over 350 cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and many others.

Crypto.com is known for more than just trading. It has a variety of services. For example, traders can enjoy maker fees from 0.075% to 0% and taker fees from 0.075% to 0.05%. Those who trade a lot can get even lower fees.

The Crypto.com app is great for mobile users. It’s easy to use and works on Android and iOS devices. This app makes trading smooth and simple.

Crypto.com also offers a Visa card with up to 5% cash back, earning up to 14.5% interest by staking crypto, and a secure DeFi Wallet. It even supports Ledger wallet integration for extra security.

Despite some issues, Crypto.com has a high rating of 4.7. However, it has a Trustworthiness rating of F from the Better Business Bureau due to customer complaints. Crypto.com has improved security with an Account Protection Program after a security breach.

Crypto.com offers a wide range of services for cryptocurrency trading fans. It combines spending, trading, storing, and saving in one place. This makes it a versatile platform for managing digital assets.

Company Overview

Founded in 2016 in Hong Kong, Crypto.com quickly became a big name in the crypto world. It now helps over 70 million users worldwide, making it a top crypto company. The Crypto.com company history shows its aim to make crypto easy for everyone. It offers a simple interface and many financial products.

This cryptocurrency digital platform lets users trade over 350 cryptocurrencies. The Crypto.com Exchange, started in 2019, offers spot trading in over 200 cryptocurrencies. It also has 100+ derivatives pairs with 10x leverage and 7 unique futures markets.

Crypto.com lists Cronos (CRO) as its main token. This gives users lower trading fees and other perks. For example, Level 1 spot trading costs 0.4% Maker/0.4% Taker. Level 1 derivative trading costs 0.040% Maker/0.065% Taker.

Feature Details
User Base 70 million+ globally
Crypto Assets 350+ supported currencies
Native Token Cronos (CRO)
Trading Fees 0.4% Maker/0.4% Taker (Spot), 0.040% Maker/0.065% Taker (Derivatives)
Security High-level security, multiple regulatory licenses, 100% funds in cold wallets

The platform is very secure, protecting user assets and boosting its global reputation. Crypto.com has licenses in many countries like the UAE, Europe, Australia, and the UK. After a $30 million hack in January 2022, it improved security with a 24-hour delay for withdrawals and a better 2FA system. This shows Crypto.com’s commitment to keeping users safe.

Supported Cryptocurrencies

Crypto.com is a leader in the crypto market with its wide range of digital currencies. It supports over 350 cryptocurrencies, making it a top choice for traders. You can trade popular coins like Bitcoin (BTC), Ethereum (ETH), and the CRO token, perfect for both experts and beginners.

Some of the notable assets supported by Crypto.com include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dogecoin (DOGE)
  • Shiba Inu (SHIB)
  • Solana (SOL)
  • Polkadot (DOT)
  • Cardano’s ADA
  • Litecoin (LTC)
  • Ripple’s XRP
  • Stellar’s Lumen (XLM)
  • Crypto.com Coin (CRO)

Crypto.com doesn’t just offer a lot of digital currencies. It also provides tools to enhance your trading. You can do spot trading, stake your coins, and use a scaling system. This makes it easy for new traders to start without a big investment.

Here’s how Crypto.com compares with other exchanges:

Exchange Platform Number of Supported Currencies
Crypto.com 350+
Coinbase 200+
Gemini 80+
Kraken 200+

Crypto.com supports a wide range of assets and has strong security with ISO/IEC certifications. It also offers up to 10% APR through CRO staking. This makes it a safe and appealing choice for digital currency enthusiasts.

Trading Experience

Trading on Crypto.com is a great experience, thanks to its mobile app and desktop platform. It offers a wide range of features and an easy-to-use design. Users can trade over 250 cryptocurrencies easily, managing their digital assets smoothly.

Mobile App

The mobile trading app from Crypto.com is easy to use and full of features. It works on both iOS and Android. Users can track over 200 cryptocurrencies and get real-time alerts on price changes.

This app combines advanced trading tools with a simple design. It lets users buy and sell more than 100 cryptocurrencies with many fiat currencies. This makes it a top choice for trading on the move.

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Desktop Interface

Crypto.com also has a detailed desktop trading platform for those who like a bigger screen and more features. It supports many languages and has different order types. Traders can also get instant loans using their crypto.

Even though some places limit market trading, the Crypto.com user experience on desktop is still strong. The platform’s wide support and advanced tools make it a solid choice for desktop users.

Feature Mobile Trading App Desktop Trading Platform
Accessibility iOS & Android Web-based
Cryptocurrencies Track 200+, Trade 100+ Supports 250+ cryptocurrencies
Order Types Basic & Advanced Basic & Advanced
Leverage Not available Up to 1:3
Fiat Currencies 20+ supported Multiple supported

Whether on the mobile trading app or the desktop trading platform, the Crypto.com user experience makes trading smooth and efficient. This makes Crypto.com a strong choice in the crypto market.

Crypto.com Fees

Crypto.com has a competitive fee structure for trading. Fees start at 0.075% and can drop with high-volume trading or by joining discount programs. These programs reward users for holding Crypto.com’s CRO cryptocurrency.

When compared to others, like Coinbase, Crypto.com stands out. Coinbase’s fees range from 0.00% to 0.40% for maker fees and 0.05% to 0.60% for taker fees. Crypto.com’s fees are lower, ranging from 0.0% to 0.075% for maker and 0.05% to 0.075% for taker fees. They also don’t charge fees for depositing cryptocurrency or fiat currency via ACH or wire transfer.

But, there are other costs to consider. While Crypto.com doesn’t charge for wallet conversions, Coinbase does. Crypto.com also charges 2.99% for using debit or credit cards, while Coinbase doesn’t.

Fee Type Crypto.com Coinbase
Maker Fees 0.0% – 0.075% 0.00% – 0.40%
Taker Fees 0.05% – 0.075% 0.05% – 0.60%
Debit/Credit Card Fee 2.99% Free
Wallet Conversion Fee Free 1%

For traders who deal in large volumes, Crypto.com offers special fee structures. High-volume traders can get fees as low as 0.060%. The platform also supports over 350 cryptocurrencies, offering more investment options than Coinbase’s 240.

Withdrawal fees on Crypto.com vary by network and cryptocurrency type. For example, Bitcoin withdrawals cost 0.0005 BTC. This detailed approach helps users manage their expenses better.

New users get a special deal with no fees for crypto purchases with credit or debit cards for the first week. This, along with its discounts and clear fees, makes Crypto.com a top choice in the crypto market.

Security Measures

When looking at the safety of your digital assets, Crypto.com security is key. The platform uses top-notch protocols to make users feel secure.

Fund Storage

Cold storage is a big part of Crypto.com’s security. Most user funds are kept offline, reducing cyber-attack risks. The platform uses security teams, Hardware Security Modules (HSMs), and multi-signature keys to protect your money.

Multi-Factor Authentication

MFA adds an extra layer of security at Crypto.com. It makes it hard for unauthorized people to get in. This shows Crypto.com’s strong commitment to keeping user data safe.

Insurance Policies

If there’s a security breach, having insurance coverage is key. Crypto.com offers a $100 million policy for losses. This, along with following global security standards like ISO/IEC 27001:2013, builds trust.

Security Feature Description
Cold Storage Offline fund storage to reduce the risk of cyber-attacks.
MFA Multi-factor authentication to prevent unauthorized access.
Insurance Coverage $100 million policy to cover potential losses from breaches.

Crypto.com is a trusted platform for trading cryptocurrencies thanks to its strong security. It uses the latest security tech and gets the right certifications. This greatly lowers the risks for its users.

Crypto.com Mobile App

The Crypto.com mobile app is key to the platform’s features. It gives users a smooth way to manage and invest in cryptocurrencies. You can trade over 350 cryptocurrencies, like Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC). It also lets you buy and sell these with 20+ fiat currencies or credit/debit cards.

This app stands out for its deep liquidity, low fees, and best execution prices. These are crucial for trading on the app. Security is a big deal, with strong protections like Two-Factor Authentication (2FA), Anti-Phishing Codes, and Biometric ID to keep accounts and crypto safe.

The app has many special features to help users:

  • Syndicate Feature: Users can buy popular cryptocurrencies like BTC, DOT, and ZIL at discounts up to 50%.
  • Supercharger: Users can earn more cryptocurrencies by locking up CRO tokens.
  • Crypto Earn: Users can earn high reward rates on their crypto.
  • Flexi-Lending Platform: Users can borrow against assets like CRO, BTC, ETH, and LTC with high Loan-to-Value (LTV) ratios and flexible repayments.
  • Soft Lockup: Users can earn up to 4% p.a. on Bitcoin and other cryptocurrencies by keeping a balance on the Crypto.com Exchange.
  • Crypto.com Visa Card: Users can get up to 8% back in CRO on all spending, with more rewards for music, movie, and shopping subscriptions.

The app works well with the Crypto.com Exchange, allowing users to easily deposit and withdraw funds without fees. It keeps getting better, with updates like version 2.39.0 on June 28, 2024, adding new features and fixing bugs.

The Referral Program is a big deal, offering up to USD 2,000 in CRO for each friend referred. Users also get a 50% commission on trading fees for a year. Plus, there are trading rebates in CRO and up to a 4x bonus through the BG25 Referral Program.

With over 100 million users worldwide, the Crypto.com mobile app keeps improving. It offers a wide, easy-to-use platform for trading, earning, and spending cryptocurrencies.

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Feature Description
Supported Cryptocurrencies 350+ including BTC, ETH, LTC, and more
Fiat Currency Support 20+ including USD, EUR, GBP
Security Features Two-Factor Authentication (2FA), Anti-Phishing Codes, Biometric ID
Unique App Features Syndicate, Supercharger, Crypto Earn
Rewards Up to 8% back in CRO, double-digit reward rates, Syndicate discounts
Referral Program Up to USD 2,000 in CRO, 50% Commission

Staking and Earning Interest

Crypto staking on Crypto.com lets you earn interest on your crypto. It’s a great way to grow your investment. You can stake over 20 different cryptocurrencies and earn up to 14.5% in annual interest.

The Crypto.com Earn program is a highlight. It offers flexible or fixed-term deposits. This means both new and experienced investors can earn interest on crypto easily, without needing tech skills.

You can stake through Crypto.com’s main service or the DeFi Wallet app. This app safely stores assets like Bitcoin, Ethereum, and NFTs. Staking means holding a cryptocurrency for a while, which can increase your earnings. But, remember, it also comes with risks due to market changes.

Here’s a look at the potential Annual Percentage Rates (APRs) available on Crypto.com for selected cryptocurrencies:

Cryptocurrency Annual Percentage Rate (APR)
Ethereum (ETH) 2.3%
Cronos (CRO) 7.05%
Polkadot (DOT) 15.47%
Cardano (ADA) 3.06%
Avalanche (AVAX) 6.65%
Polygon (MATIC) 4.62%
Solana (SOL) 6.58%
MultiversX (EGLD) 6.57%
Cosmos (ATOM) 15.64%

You also get to set price alerts for over 250 assets and earn up to 5% cash back on purchases with the Crypto.com Visa Card. For U.S. investors, the main way to access these features is through the mobile app. However, some advanced options like margin trading and staking are not available to most.

I like how Crypto.com makes staking easy and rewarding. It’s all thanks to its simple app and secure wallet options.

The Crypto.com Visa Card

The Crypto.com Visa Card is a great tool for those who love cryptocurrency. It offers card tiers benefits that give users different perks based on how much CRO tokens they lock up. This card is special because it has no annual fee and doesn’t need a credit check. It’s easy for users to spend their digital currencies directly.

Card Tiers

There are five card tiers to choose from, from the basic Midnight Blue to the top-tier Obsidian card. Each tier has its own staking needs and offers unique benefits:

Card Tier Staking Requirement Cash Back ATM Withdrawals (Monthly) Subscription Rebates Airport Lounge Access
Midnight Blue $0 0% $200 None None
Ruby Steel $400 1% $400 Spotify None
Royal Indigo/Jade Green $4,000 2% $800 Spotify, Netflix 4 visits/year
Frosted Rose Gold/Icy White $40,000 3% $1,000 Spotify, Netflix, Amazon Prime Unlimited for cardholder +1 guest
Obsidian $400,000 5% $1,000 Spotify, Netflix, Amazon Prime Unlimited for cardholder +1 guest

Cash Back Rewards

The crypto rewards program with the Crypto.com Visa Card lets cardholders earn cash back on their buys. The rewards depend on the card tier. For example, the Obsidian card gives 5% back, but it requires a big staking amount. The Midnight Blue card doesn’t offer cash back but still offers the card’s benefits without a big financial commitment.

The card also has a program with ATM fee rebates, subscription discounts, and travel perks. For instance, Ruby Steel, Royal Indigo, and Jade Green card holders get Spotify rebates every month. Higher tiers add Netflix and Amazon Prime rebates, making this card versatile in digital payments.

Crypto.com Customer Support

Crypto.com aims to provide top-notch Crypto.com user assistance. They mainly use chat and email for support. But, many users say they often face slow or unsatisfactory support response.

Still, Crypto.com quickly registers every complaint and sends an email within two business days. They aim to solve complaints within 15 days. If there’s a delay, they tell users why and when they’ll fix it.

“All complaints received by Crypto.com are registered as soon as they are received. An acknowledgment email is sent within two business days.”

If the first solution doesn’t work, users can ask the Ombudsman in Malta for help. This step is to make sure all issues are solved. Here’s a look at how they support users:

Platform Number of Supported Cryptocurrencies Support Channels
Crypto.com 350+ Email, Chat
Coinbase 260+ Email, Phone
Kraken 250+ Email, Chat
Gemini 80+ Email, Chat

Crypto.com stands out with over 350+ cryptocurrencies and deep market liquidity. Yet, reviews on Trustpilot show where they can improve their support response.

Crypto.com knows how crucial quick support is. They’re always working to make their customer service better. They want to make sure every Crypto.com user assistance issue is solved fast and well, keeping trust with its 100 million users worldwide.

Ease of Use

Crypto.com is a user-friendly crypto platform that stands out. It has over 50 million users and offers to buy and sell over 250 cryptocurrencies at true cost. This might overwhelm new users at first.

The platform is designed to be easy for all crypto fans. It has many services like an exchange, wallet, price chart, and staking platform. Crypto.com’s ‘university’ function helps beginners with guidance and support.

Most crypto trading happens on centralized exchanges. Crypto.com has better security with offline storage and insurance against hacking. This makes trading simple and safe for users.

Here’s a look at centralized and decentralized exchanges:

Feature Centralized Exchanges Decentralized Exchanges
Main Advantage Improved Security Measures Increased Accountability and Transparency
KYC Rules Required Not Required
User-Friendliness High Low
Currency Conversion Flexible Limited
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Crypto.com is easy to use despite its many services. It balances a lot of options with simplicity, making it popular with new and experienced traders.

Additional Features

Crypto.com shines with its top-notch auxiliary services for users. It offers more than just cryptocurrency trading. You get access to a DeFi Wallet and a lively NFT Marketplace. These tools make it easy and safe to explore advanced financial worlds.

DeFi Wallet

The DeFi Wallet gives users full control over their digital assets. It securely stores cryptocurrencies like Bitcoin, Ethereum, and NFTs. It’s known for its decentralized exchange, making it a top choice.

With multi-factor authentication for extra security, it’s a reliable place for everyone. It’s perfect for both experts and beginners. The DeFi Wallet makes managing your digital assets easy and safe.

NFT Marketplace

Crypto.com’s NFT Marketplace is a great spot for trading unique digital items. You can buy, sell, and trade things like rare digital art and exclusive collectibles. It’s a place where NFT trading thrives.

The marketplace supports many NFTs, giving users lots of choices. It has competitive fees and a broker model for pricing. This makes it a place for both financial gains and creative expression. Adding the marketplace to Crypto.com’s services makes the experience even better.

Here’s a closer look at some key features:

Feature Description
DeFi Wallet Secure storage for Bitcoin, Ethereum, NFTs, and more, with support for decentralized exchanges and multi-factor authentication.
NFT Marketplace Platform for buying, selling, and trading unique digital assets like artworks and collectibles. Features competitive trading fees and a broker model for pricing.
Multi-Factor Authentication Enhanced security for user accounts through multiple verification steps.
Withdrawal Fees Variable fees based on the cryptocurrency being withdrawn.

Crypto.com not only improves trading but also opens up more financial opportunities for its users. Whether you want to safely store your digital assets in a DeFi Wallet or explore NFT trading, Crypto.com has what you need.

Pros of Using Crypto.com

Crypto.com is a top choice for trading over 250 cryptocurrencies. It’s perfect for both new and experienced traders. The app has a high rating of 4.50 out of 5 stars, showing how much users love it.

One big plus is the no commission fee for buying and selling crypto. But, you might see a variable spread. This is different from Coinbase, which charges fees from 0% to 0.60%. And Robinhood, which has $0 fees. Crypto.com is great for those who trade often.

Using the CRO token brings more perks, like cash back on prepaid Visa cards and high interest on staking. This makes it a smart choice for investors.

Crypto.com also offers a wide range of crypto banking services. You can trade many digital assets and earn interest on over 20 cryptocurrencies. It’s safe, with cold storage, regulated bank accounts, and a $100 million insurance policy. Plus, it’s easy to use on your mobile, perfect for trading anywhere.

FAQ

What are the key advantages of using Crypto.com?

Crypto.com offers over 350 cryptocurrencies and low trading fees starting at 0.75%. It has a range of crypto banking services and competitive interest rates for staking. It’s great for mobile investors who like app-based trading.

How does Crypto.com ensure the security of user funds?

Crypto.com uses strong security like multi-factor authentication (MFA) and whitelisting. Most user funds are kept in offline cold storage. It also offers insurance for assets and meets global security standards.

What cryptocurrencies are supported on Crypto.com?

Over 350 cryptocurrencies are supported, including Bitcoin (BTC), Ethereum (ETH), and the CRO token. This wide selection gives traders many options.

What is the trading experience like on the Crypto.com mobile app?

The app has a user-friendly interface for trading, spending, storing, and saving cryptocurrencies. It’s highly rated on iOS and Android, aiming for a smooth experience for managing digital assets on the move.

Are there any fees associated with using Crypto.com?

Trading fees start at 0.75% and can drop with high-volume trading or holding CRO tokens. Other actions may have extra fees. Using bank transfers can help reduce costs.

What benefits does the Crypto.com Visa Card offer?

The Visa Card offers up to 5% cash back and airport lounge access, with no annual fees. Benefits depend on staked CRO tokens. Cashback has changed over time but remains a big plus for cardholders.

How does Crypto.com handle customer support?

Crypto.com provides 24/7 support through chat and email. But, there are reports of slow and unsatisfactory responses. The Trustpilot rating shows areas for improvement in solving user issues.

How can I earn interest on my crypto using Crypto.com?

Earn interest by staking cryptocurrencies on Crypto.com. You can stake over 20 different cryptocurrencies, earning up to 14.5% interest. This service is on the main platform and DeFi Wallet app.

What additional features does Crypto.com offer?

Crypto.com has more than trading and staking. It has a DeFi Wallet app for full custody and decentralized exchange. There’s also an NFT marketplace for buying, selling, or trading unique digital assets like art and collectibles.
About Author

Noah Burton

Noah Burton is a prolific author specializing in cryptocurrency publications. With a portfolio of 18 different cryptocurrencies, Noah combines his in-depth knowledge of the digital currency landscape with practical investment experience. As a seasoned forex market investor, he brings a unique perspective to his writings, offering insights that bridge traditional financial markets and the evolving world of cryptocurrencies. Noah's work is a valuable resource for both novice and experienced investors, providing comprehensive analyses, strategies, and updates on the latest trends in the financial sector.