Interest in cryptocurrencies has reached the mainstream. Investors of all experience levels are looking for the best platform to buy, sell and even spend digital currencies. Our Crypto com review article takes a look at one of the most popular options to see if it’s worth the money.
What Is Crypto.Com?
Crypto.com is a cryptocurrency and financial services platform with one of the fastest growing applications in the industry. Kris Marszalek founded the company in 2016 under the name Monaco before renaming it Crypto.com the following year.
Initially a crypto payment platform , its trading services now constitute the bulk of its activity.
But is Crypto.com a good exchange?
Absolutely, but it offers much more than that. You can think of it more as a bank for cryptocurrencies than just an exchange or a place to buy crypto .
Its more than 10 million users can grow a portfolio of interest-earning assets , get cashback using a cryptocurrency debit card, and even get cryptocurrency loans without a credit check.
Our Crypto.com review will explore the possibilities offered in more detail.
But first :
How Does Crypto.Com Work? Crypto Com Review
Crypto.com works through a web browser or a popular mobile app . Additionally, it has many attractive security measures.
With all cryptocurrencies supported, users can:
- Buy and sell using a simple interface at market value
- Deepen your trading knowledge with an advanced trading platform
- Execute limit/stop-limit orders
- Use market leverage with margin trading , using borrowed funds.
- Speculate with derivative products
- Earn up to 14% interest by investing in deposit tokens.
All features are available on a single website or app, although there are some differences depending on the country you live in.
For example, all Services are available in the United States except New York State. On the other hand, Ghana and Venezuela are not supported at all.
Features Of Crypto.Com
Let’s continue with Crypto.com’s comments on each individual feature:
Crypto Com Card Reviews
The Crypto.com card is an innovative concept with many additional benefits. Even the metal design is attractive.
You can use it in any place online or offline where VISA card is accepted. And while credit is a service it provides, it is not a Crypto.com credit card. However, it can recharge your existing card.
Still not clear?
Your DeFi wallet converts the funds into fiat currency for your debit card to use. It allows you to easily spend cryptocurrencies, or in fact, cash out, without the tedious process of selling and withdrawing to fiat.
In our Crypto.com Visa Card review, we used the app and everything was extremely simple . In short, if you have ever used an online banking or payment service, you can use it without any problem.
Defi Wallet
Crypto.com provides the DeFi cryptocurrency wallet, which can be used without custody . This means that you own the private keys stored locally in a file, backed up by a mnemonic phrase.
Because you have the keys, you have full control, just like with a wallet stored on your computer. This makes it more secure than those controlled by a third party.
You can also import your recovery phrase from another wallet into your DeFi wallet without going through the transaction process.
Ready for trading and other services, you store all your cryptocurrencies in the wallet. You can also send and receive cryptocurrencies privately, choosing the network rate that suits you.
The more you pay, the faster the transaction. However, different currencies use different networks and fee models, which can increase processing time.
Interest Account
Coins stored in your Crypto.com wallet can also earn up to 14% interest , which is higher than virtually any traditional fiat currency savings account. However, saving in crypto is a risk, as virtual currencies are more volatile than most currencies.
The rate you get depends on your base currency, how long you agree to hold it for and the amount staked.
For example, a stablecoin like USDC earns an annual interest rate of 10% (paid weekly) on deposits worth $400 or less over a three-month period. Bet $40,000 or more, and you could hit the elusive 14% interest rate. A one-month commitment sets you back 2%, while a flexible schedule sets you back 4%.
Because it is directly linked to the US dollar, this option is the most stable, as its name suggests.
Similarly, bitcoin earns 4.5% interest (paid weekly) for deposits worth $400 or less over a three-month period. Bet on $40,000 or more to get the top rate of 8.5%.
The difference is that the volatility of a cryptocurrency can work both in your favor and against you.
Digital Currency Exchange
To purchase cryptocurrencies on the spot (at current market value) through the Crypto.com app or web platform, simply choose the desired coin and currency to purchase. It could be another crypto or a fiat currency. You don’t need any prior trading experience, and the app makes it particularly easy. Besides, you could choose Mystake France for sports betting and online casino.
Although the exchange may seem intimidating at first, it is simply a list of the most popular coins in pairs. It shows the market price, value fluctuation and other statistics.
Here are the steps to follow:
First, find or search for your pair , then click on the trade button. Next, choose the amount you want to purchase using the convenient slider. If you trade on the spot, the process will only take a few minutes.
Like other exchanges, the US version of the Crypto.com exchange is fully functional despite past restrictions. However, New York State residents remain excluded from the list of supported locations for legal reasons.
Crypto Loans
Loans from Crypto.com can be issued for amounts up to 50% of your crypto holdings. For example, if you have 0.4 BTC, you can borrow 0.2 BTC.
The standard APR is 12% , but this rate decreases depending on the amount you have staked (held) for six months.
Unlike traditional loans, you can repay on your own sporadic schedule, with no statement due dates and, therefore, no late fees at Crypto.com.
Anyone residing in a supported country is eligible, and no credit check is required. You just need to have at least $1,000 worth of cryptocurrency in your wallet.
Margin Trading
Margin trading is the process of using credit to finance transactions with the aim of earning revenue and profits based on fluctuations in value. This is one of the main purposes of using Crypto Loans .
Crypto.com supports 3x leverage, which is the amount of crypto a trader can multiply by their position.
So, going back to our previous example, if you have 0.4 BTC in your Crypto.com wallet, you can borrow 1.2 BTC.
Also Read: Our Opinions On IronFX Is It Really Ethical And Reliable Finance
Crypto.Com Coin
CRO is Crypto.com’s own token. It supports its native blockchain which is part of its merchant services. Additionally, CRO can be held as part of your staking requirements for Visa card benefits and interest accounts.
You can find the coin price from Crypto.com here.
Crypto.Com App Review
There’s no denying that the platform is packed with advanced features, but the app is particularly user-friendly. It holds an impressive 4.2/5 rating on Google Play and 3.9/5 on the Apple Store .
To register in most countries, simply scan your passport or driver’s license and take a selfie. The downside is that it sometimes takes up to three business days for the verification to be processed. Still, it took less than 30 minutes in the UK during our test.
Once you select your preferred fiat currency , you will be taken to the home page, which displays your fiat balance at the top. Below you can follow cryptocurrency prices, easily access the trading section and make fiat and cryptocurrency transfers.
To buy a currency, simply tap the buy button next to its information. And if you want to transact, do the same, and more options will appear.
Our Crypto.com review revealed simple tabs for your Visa card, wallets, and payment feature for customers and merchants. There is also a bubble icon for 24/7 chat support .
The gear settings icon lets you configure two-factor authentication and fingerprint, and set an anti-phishing code. This code is then displayed on all emails so you know they are genuine.
Currencies Supported By Crypto.Com
New cryptocurrencies emerge every day, and Crypto.com aims to support those with lasting power. As a result, its current list of cryptocurrencies reaches over 400. Here are some of the most popular ones traded on the Crypto.com app and website:
| Bitcoin | Bitcoin Cash | Dogecoin | Ethereum Max | Ethereum |
| Litecoin | USD coin | Stellar | Ripple | IOTA |
| Avg Interest Bearing | iEarn | Envelope | NEO | Attached |
| NEM | Nano | Filecoin | Tezos | Dash |
| ETH | Akropolis | Alchemix | BNB | Compound Augur |
| Ghost | Labra | Polygon | MCO | Mainframe Token |
| NEST | Augur | Augur v2 |
Crypto.Com Fees
Several features of the platform incur fees from Crypto.com:
Crypto.Com Withdrawal Fees
Each coin type is subject to a Crypto.com fee for withdrawal and a minimum amount when you send it out of the Crypto.com wallet to another address.
For example, DOGE requires a minimum withdrawal of 90 and has a fee of 10.
Crypto.Com Trading Fees
Fees on Crypto.com also apply to trading. This is a percentage of the underlying USD (or fiat of your choice) value of the transaction.
For example, for a transaction worth up to $25,000, a 0.4% fee is applied to both the originator and taker of the transaction.
These fees decrease as your trading volume increases through nine tiers . The lowest is 0.04% for the maker and 0.1% for the taker. However, the volume must be greater than $200 million to benefit!
The same percentage structure applies to derivatives trading, but the fees are much lower. They start at 0.050% for the maker and 0.070% for the taker, up to $25,000. At level 9 (over $200 million), there is no fee for the maker and 0.015% for the taker.
Credit And Debit Cards
It’s easy to buy cryptocurrencies directly using a credit or debit card linked to your account. But unlike bank transfers, which are free, you will be charged between 2.99% and 3.99%, depending on your location.
This excludes exchange fees charged by your card issuer or bank for using one of the supported fiat currencies that is not native to your country.
The good news ? New app users from 54 countries are waived from Crypto.com fees for the first 30 days.
Limits And Reviews Crypto Com
Crypto.com does not restrict your ability to trade effectively, but there are some reasonable limits to be aware of.
Withdrawal Of Cryptocurrencies
Minimum withdrawals are set low enough to accommodate low-volume users while accounting for Crypto.com’s withdrawal fees.
For example, the minimum Bitcoin withdrawal is 0.0005, and the fees are 0.0004.
This only leaves you with 0.0001 BTC, so it’s best to increase your funds a bit before withdrawing.
As of July 2021, the platform does not indicate a maximum crypto withdrawal limit .
Supported Countries
Crypto.com supports over 90 countries . The company updates the list occasionally, based on changes in legal status and other obstacles. You’ll quickly find out if your country is supported as soon as you sign up. Some of the biggest users include:
| UNITED STATES | Japan | Czech Republic | Israel | Poland | Spain |
| Türkiye | Nigeria | Denmark | Italy | Portugal | Sweden |
| Peru | Vietnam | Egypt | Latvia | Russia | United Arab Emirates |
| Swiss | Philippines | Finland | Lithuania | Saudi Arabia | |
| UNITED KINGDOM | Australia | France | Mexico | Singapore | |
| India | Belarus | Greece | The Netherlands | Slovakia | |
| China | Brazil | Hungary | New Zealand | Slovenia | |
| Germany | Canada | Iceland | Norway | South Africa |
Supported Payment Methods
Supported payment methods vary from country to country, but in general you will find:
Financing And Purchasing
- Debit card
- Credit card
- Fiat wallet by bank transfer
- Existing Cryptocurrency
Withdrawal
- Bank transfer
- Crypto.com Visa Card
- Withdrawal to another cryptocurrency wallet
Security
Is Crypto.com safe? Yes !
The platform focuses heavily on security, and users are reassured because it has never experienced a major security breach.
The cryptocurrencies held by the site are kept offline in a physically secure “ cold storage” . In addition, it is insured against damage and theft to the tune of $500 million.
The cryptocurrencies that circulate are protected in multi-signature HSM wallets . There is always enough to cover daily withdrawals, and this total amount represents only a fraction of the company’s overall financial holdings.
Fiat currency is held in many different company-owned bank accounts, located to best support its users. In other words, Crypto.com USA users are served by American banks and protected by FDIC insurance .
The outward facing site and applications are encrypted and use Amazon web services. That means extras like firewalls , real-time threat detection, and other high-level security measures.
Crypto.com also has staff who actively monitor suspicious transactions and request manual approval for particularly large volume transactions.
Additionally, user accounts are protected by two-factor authentication.
One of the best features of Crypto.com’s DeFi wallet is that you don’t have to rely on the site to protect it. You receive the private keys to manage it yourself, much like an offline wallet. However, it is not obligatory.
Crypto.com – safe, secure and trusted within the crypto community . What do you want more ?
Customer Support. Crypto Com Reviews
When it comes to anything financial, customer support should be immediately available. Crypto.com does a good job in this regard with a live chat feature available on every web page and in the app. It even tells you how many team members are currently free.
Previous reviews of Crypto.com, like those from TrustPilot , have blamed slow staff responses, but our test question was answered within minutes via online chat, and three staff members were available in the middle. day.
There’s also a help center with articles organized by category – from application help to everything VISA card related. The search option is particularly effective in returning help pages matching your query.
The general contact email address is [email protected], but it is not presented as a support option.
Crypto.Com Vs. Coinbase
Instead of relying solely on reviews on Crypto.com, we pitted two crypto giants against each other: Crypto.com vs Coinbase . Here’s the lowdown on how they compare in features, fees, and security:
Registration Fees
Overall, Crypto.com has a cheaper fee structure and discounts for high-volume users. This includes trading, crypto conversion and card payments. Coinbase only has the advantage when it comes to ACH bank transfers, which are free and do not require a minimum deposit.
Crypto Com Review Support
Both platforms have strong 24/7 customer support teams , but Coinbase wins with a deeper knowledge base and learning environment. You can even earn crypto by completing educational tasks!
Features
While both have comprehensive exchanges for trading, Crypto.com outdoes them with extras such as:
- Visa cards
- Earn interest
- Crypto loans
- Payments and merchant services
Currencies
Coinbase offers a few unique cryptocurrencies for trading, including BSV, CGLD, CVC, DNT, GNT, LOOM, NU, OXT, REP, and ZEC .
However, the Crypto.com app has many more unique offerings and overall the most supported coins on both platforms.
Ease Of Use
Both platforms offer intuitive, beginner-friendly websites and apps . Crypto.com is slightly more complex as it offers more features, but it’s certainly not difficult to navigate all the key areas. It’s a draw.
Security
Crypto.com and Coinbase are trusted sites that have never been hacked. They both use cold storage, although Crypto.com has 100% of its holdings secure while Coinbase has slightly less, at 98%.
Crypto.com comes out on top because it gives you access to your wallet’s private keys, while Coinbase manages the wallets itself.
Conclusion
To summarize, both services are easy to use, secure, and have good customer support. But Crypto.com is our choice because of the large number of supported currencies and its many additional features. It simply has more to offer the user, without any major drawbacks.
- App: Android and iOS
- Ease of use: 4/5
- Earn interest: Up to 14%.
- Buying and selling: Yes
- Wallet service: Yes
- Advanced Trading: Yes
- Countries supported: 90+
STRONG POINTS
- Reduced fees
- Excellent app
- Spend cryptocurrencies with VISA card
- Earn interest on stored cryptocurrencies
WEAKNESSES
- Some geo-restrictions
- Playing Required for Best Benefits
- No customer support phone line
Crypto Com Review And Final Verdict
If at the beginning of this post you asked: Is Crypto.com good? The answer should now be clear.
It’s one of the fastest growing platforms in the industry, and for good reason. Above all, it takes singular services like buying crypto or providing trading tools and brings them together under one roof with more features.
Above all, cryptocurrency-linked debit cards , interest on your stored assets, and even cryptocurrency credit give it a leg up on most of its competitors.
It further stands out with low fees, a high level of security and a well-developed application.
It is not too difficult to learn for beginners. At the same time, all the advantages enjoyed by experienced investors who invest large volumes are a huge bonus.
In conclusion, Crypto.com is one of the leaders in the sector.
FAQs
Is Crypto Com Trustworthy?
Yes, Crypto.com is a legitimate and well-established platform with millions of users. It has been operating since 2016 and is a registered company in Hong Kong, China, while serving many other countries around the world, adhering to local laws and regulations.
Is Crypto Com A Good Wallet?
From a security perspective, it is always safer to use your own localized wallet to store cryptocurrencies. However, when it comes to third-party managed wallets, the Crypto.com wallet is one of the best. In fact, it gives you the security keys for non-custodial management.
Is Crypto Com Better Than Coinbase ?
We think Crypto.com is the best service, as our Crypto.com review shows. It offers more features, like VISA cards and the ability to earn interest. Additionally, its security is higher, and there is a wider variety of cryptocurrencies supported.