Crypto.com Review: Features, Pros, and Cons

Crypto.com is a crypto exchange that provides a slew of highly effective trading and decentralized finance features for traders across the globe.

But, is Crypto.com all it’s cracked as much as be?

In this Crypto.com review, we’ll provide you with perception into the entire platform’s key features. We’ll take a better take a look at the pros and cons of utilizing the exchange so you may resolve if it’s proper to your wants.

→ Visit now: www.Crypto.com

What Is Crypto.com?

Founded in 2016, Crypto.com is a cryptocurrency exchange primarily based within the Cayman Islands. The agency is on a mission to assist the world turn out to be extra crypto-savvy and it presents a range of merchandise to assist traders benefit from their digital belongings.

Crypto.com is thought for its high-powered, centralized exchange that helps greater than 90 cryptocurrencies. Additionally, the agency now presents a number of decentralized finance (DeFi) instruments for skilled traders.

How Does Crypto.com Work?

Before you may start inserting trades on Crypto.com, you must create an account. Here’s how the method works.

Getting Started

The first step in making a Crypto.com account is verifying your eligibility for the platform. Currently, the platform is offered to folks over the age of 18 in 90+ international locations, together with all US states besides New York.

If you’re eligible to make use of Crypto.com, you’ll want to gather some info earlier than you open an account. The agency requires the next of all account holders:

• Full identify
• Date of start
• Email address
• Phone number
• Government-issued ID
• Selfie

Note that as of December 2020, Crypto.com has disabled its “starter” verification degree. As a outcome, account holders should present a selfie and a government-issued ID. Investors from sure international locations might also want to point out proof of address when opening an account.

Opening an Account

To open a Crypto.com account, merely go to the agency’s app or the Crypto.com Exchange. Then, click on the button to open an account.

→ Visit now: www.Crypto.com

Next, you’ll enter your personal info earlier than verifying your phone number and e-mail address. You’ll then scan your government-issued ID and take a selfie for identification verification.

Once this occurs, your account shall be energetic, however you gained’t have the ability to place trades till your account verification is full. This course of usually takes about three to 4 days.

Funding Options

Crypto.com helps greater than 20 fiat currencies. Each currency has funding choices, charges, and eligibility necessities.

For US greenback transactions, you may select between ACH bank transfers or wire transfers. SEPA and Faster Payment Service (FPS) transfers are additionally supported for Euro and British Pound deposits.

You may also buy crypto on the platform utilizing a debit or credit card. Alternatively, you may switch any supported coin into your Crypto.com wallet.

Cryptocurrencies Available on Crypto.com

Currently, Crypto.com helps greater than 90 totally different cash on its centralized exchange. These embrace:

• Bitcoin (BTC)
• Ethereum (ETH)
• Cardano (ADA)
• Chainlink (LINK)
• Uniswap (UNI)
• Polkadot (DOT)
• Stellar Lumens (XLM)
• Cronos (CRO)

However, word that many cash on the platform aren’t accessible within the US. So, confirm that the belongings you need can be found in your nation earlier than opening an account.

Crypto.com Features

Account holders with Crypto.com can entry a slew of nice features. This is what you may anticipate should you open an account.

→ Visit now: www.Crypto.com

Crypto Exchange

Crypto.com has a strong crypto exchange the place you may commerce about 90 cash. The exchange helps market, limit, stop-limit/take-profit, and stop-loss/take-profit orders.

Although the web-based Crypto.com exchange is extra advanced than what you’d discover at Coinbase or Gemini, it allows you to shortly commerce dozens of cryptocurrencies on a network that’s run by the agency’s native token—CRO.

Crypto Trading App

If you’re trying to place trades on the go, the Crypto.com iOS and Android trading app may be what you want. The app has a streamlined interface the place you may entry the entire platform’s important features.

On the app, you may place trades on a mobile trading terminal. The app-based terminal is extra user-friendly than the corporate’s web-based exchange, making it higher for brand spanking new merchants.

Plus, on the app, you may observe market costs, view your wallet, and verify your Crypto.com Visa card balance. The app additionally allows you to ship crypto to any exterior address.

Crypto Earn

Crypto Earn is the corporate’s simplified method to earn as much as 14.5% curiosity in your digital belongings.

To use the platform, you first switch supported tokens into your Crypto Earn wallet. Then, Crypto.com lends your funds out to traders and companies that want them. In exchange, you earn passive income in your belongings.

Note that the longer you retain your funds in your Earn wallet, the extra you may earn in curiosity in your belongings. Furthermore, you may earn a better curiosity rate should you stake extra CRO in your Crypto.com account.

Crypto Credit

With Crypto Credit, any account holder can entry a crypto-backed mortgage in minutes. The program allows you to borrow as much as 50% of your present balance within the supported stablecoin of your alternative. This offers you fast entry to cash with out the necessity to sell your belongings.

Of course, this system isn’t free and you’ll have to pay an curiosity rate of 8% to 12% for the mortgage. Your mortgage’s curiosity rate may also lower when you have a bigger quantity of staked CRO. Additionally, there’s no fastened reimbursement schedule for this system so long as you repay your mortgage inside 12 months.

As of the time of writing, the Crypto Credit characteristic is just not accessible within the US. However, this might change sooner or later because the agency expands its companies.

Crypto Pay

Crypto Pay is a unique method to pay for items and companies at on-line retailers utilizing your crypto belongings. It additionally allows you to buy gift cards on-line at greater than 300,000 retailers and it offers a super-efficient method to buy NFTs. Plus, Crypto Pay is a simple method to ship crypto to your folks with none further charges.

As an added bonus, Crypto Pay presents rewards of 1.25% to 10% again in your gift card purchases and different transactions. You can earn greater rewards for Crypto Pay, too, should you stake extra CRO.

Crypto Visa Card

The Crypto Visa card is a modern multi-asset credit card that you should use to pay for each day purchases. With the card, you may pay for normal transactions wherever that Visa is accepted with both fiat or cryptocurrencies. In exchange, you may earn as much as 8% again in CRO rewards. Plus, the card has no annual fee and it presents restricted free ATM withdrawals.

However, needless to say you earn higher rewards utilizing this card should you stake massive quantities of CRO. The reward charges lower for decrease CRO staking balances, so double-check your potential rewards earlier than you join the card.

→ Visit now: www.Crypto.com

Margin Trading

The Crypto.com Exchange lets eligible traders entry as much as threefold the leverage for margin trading. Fees for this service are pretty low as the utmost curiosity rate is round 0.06%. This curiosity rate decreases when you have extra CRO staked on the platform.

However, margin trading is just not accessible in all geographic places, together with within the US and Canada.

Derivative Trading

Advanced traders can entry derivative trading on the Crypto.com Exchange. These derivatives embrace futures and perpetual contract trading with as much as 100 occasions the leverage.

Fees for derivative trading on the exchange are very low. This characteristic makes use of a maker-taker fee schedule with a most fee of 0.07%. You can get a decrease fee, too, when you have a better 30-day trading volume or extra staked CRO.

Derivative trading can be not presently accessible within the US or Canada, amongst different locations.

Crypto.com Wallet

The Crypto.com Wallet is a free non-custodial wallet that offers you management over your crypto and your private keys. It can retailer 200+ cash and it helps a slew of additional features, like staking and DeFi token swaps. It additionally allows you to select your confirmation pace and network fee for sending crypto, so you may decrease your charges within the long time period.

DeFi Earn

DeFi Earn is a characteristic within the Crypto.com Wallet that allows you to earn curiosity on greater than 35 tokens. With DeFi Earn, you may entry multiple staking packages, like Yearn Earn V2 and Cosmos Staking, with out giving up your private keys. There are additionally no lock-up time period necessities with this system.

DeFi Swap

DeFi Swap is one other characteristic within the Crypto.com Wallet that gives a fast method to swap tokens on decentralized exchanges. You can swap ETH and different ERC-20 tokens in seconds with out having to navigate away out of your wallet.

Additionally, DeFi Swap permits liquidity suppliers to earn bonus yields for choose liquidity pools. If you stake a large amount of CRO, you may even increase your bonus yield by upward of 20 occasions.

→ Visit now: www.Crypto.com

Crypto.org Chain

The blockchain is a crucial part of any cryptocurrency. With Crypto.com, anybody can entry the general public and open-source Crypto.org Chain.

The concept behind the Crypto.org Chain is that it’s a low-cost, quick, and comparatively sustainable method to ship, stake, accumulate, and mint crypto and NFTs. It additionally has an open-source desktop wallet that’s free to make use of for anybody enthusiastic about collaborating within the subsequent era of blockchain know-how.

Crypto.com for Business

Small business house owners in every single place can settle for crypto payments for his or her merchandise utilizing the progressive Crypto.com for Business characteristic.

This streamlined platform lets on-line retailers settle for widespread cash with the push of a button. It may also combine with widespread eCommerce purposes, like WooCommerce and OpenCart for added comfort.

Fees for this characteristic are low, too. There are not any account or transaction charges. Rather, you pay 0.5% everytime you settle your balance and withdraw your funds.

Crypto.com Tax

Crypto.com Tax is a brand new, free-to-use characteristic for organizing your crypto-related taxes. The platform can combine with many main exchanges and wallets utilizing API read-only entry that can assist you decide how a lot you may owe in taxes.

Currently, Crypto.com tax is offered within the US, Canada, and Australia, and the corporate hopes to broaden to different international locations quickly.

NFT Marketplace

NFTs, or non-fungible tokens, can be found on Crypto.com by way of the Crypto.com NFT Marketplace. On the marketplace, account holders can buy NFTs utilizing a credit or debit card, Crypto.com Pay, their account balance, or exterior ERC20 tokens.

NFTs on the platform can be found in a fixed-price or auction format. The agency has 1000’s of sellers on the platform and you may buy their work with out paying any further charges.

Crypto.com Pricing and Fees

Every exchange expenses charges and Crypto.com isn’t any exception. Here’s what you may anticipate to pay when trading on the platform:

Trading Fees

For spot and margin trading, charges start at 0.4% and lower from there. Derivatives trades are charged a most fee of 0.05%. However, each charges lower when you have a bigger trading volume or extra CRO in your portfolio.

Additionally, if you are going to buy crypto utilizing a credit or a debit card, you’ll pay a fee of two.99% (waived for the primary 30 days on the Crypto.com app).

Note you could get a discount in your trading charges should you stake CRO and pay your trading charges in CRO. Furthermore, you get a ten% bonus per yr on any CRO that you just stake.

→ Visit now: www.Crypto.com

Other Fees

Crypto.com expenses withdrawal charges on choose crypto belongings. While crypto deposits are normally free, there are minimal withdrawal quantities and charges on most cash. The actual fee that you just’ll pay will depend upon the coin in query.

Additionally, whereas Crypto.com doesn’t cost charges for bank deposits, the agency has a 25 USDC fee for every fiat currency withdrawal.

Crypto.com Security and Insurance

Crypto.com prides itself on being a security-first platform. The firm makes use of cutting-edge practices like multi-factor authentication to guard your belongings.

Additionally, Crypto.com shops 100% of client funds in offline storage. The firm additionally presents $360 million in insurance coverage for digital belongings plus FDIC insurance coverage on US {dollars} held in your account.

Crypto.com Customer Support

With Crypto.com, traders have entry to a set of detailed on-line assist pages which have solutions to most typical questions. Additionally, the agency has in-app chat and email-based assist.

However, response occasions might be gradual, significantly for email-based assist. The firm additionally doesn’t have phone-based assist, which is a disadvantage for some traders.

Crypto.com Pros

• Dozens of supported cash
• Integrated NFT marketplace
• Derivative and margin trading accessible
• Option for a crypto rewards Visa card
• Dedicated crypto-focused platform for companies
• Free non-custodial wallet
• Desktop and mobile trading accessible
• Complementary crypto tax software
• Opportunity to earn curiosity on crypto

Crypto.com Cons

• Convoluted fee construction
• Need to stake CRO to get most rewards and reductions
• Low-volume merchants pay comparatively high charges
• Many features not accessible within the US
• Relatively gradual buyer assist

Crypto.com Alternatives

Not satisfied that Crypto.com is best for you? Here are two different exchanges to contemplate:

Coinbase

One of the world’s largest crypto exchanges, Coinbase, is a dependable alternative for each new and skilled crypto traders. The platform is offered in additional than 100 international locations and it helps dozens of cryptocurrencies.

Coinbase has each a basic and a sophisticated exchange the place you may commerce crypto with ease. Additionally, the agency presents a free wallet, a crypto-backed Visa debit card, restricted staking, and even the power to earn free crypto by watching movies.

The draw back to Coinbase is that it usually expenses greater charges than Crypto.com. It additionally doesn’t have as many further DeFi features. However, if you’re keen to pay extra for comfort, Coinbase may be a pleasant alternative. Check out our full Coinbase review to be taught extra.

→ Visit now: www.Coinbase.com

Gemini

Gemini is a security-focused crypto exchange. The agency operates in additional than 50 international locations and all 50 US states. It allows you to commerce greater than 40 cryptocurrencies and, like Coinbase, it has each a basic and a sophisticated trading terminal.

With Gemini, traders can entry interest-earning accounts, the agency’s top-of-the-line security features, a crypto rewards credit card, and a easy method to pay for each day purchases with crypto. The firm additionally presents clearing and custody companies.

As is the case with Coinbase, Gemini expenses high charges. It additionally has fewer supported international locations and cash than Crypto.com. So, it’s finest for traders who prioritize simplicity and security above all else. Read our full Gemini review to be taught extra.

→ Visit now: www.Gemini.com

Who Is Crypto.com For?

Crypto.com is a strong alternative for traders which can be excited about the world of crypto and decentralized finance.

The agency’s plethora of Defi features, along with its highly effective exchange, make it an excellent option for the eager crypto trader. Additionally, Crypto.com’s particular instruments for companies and its further rewards advantages for high internet value merchants imply that it’s a pleasant exchange for a big selection of traders.

However, all of those features come at the price of accessibility for brand-spanking new merchants. Plus, Crypto.com’s reliance on CRO for many of its rewards limits the platform’s performance for traders that simply wish to shortly commerce main cash. As an outcome, Crypto.com is best for extra skilled merchants that wish to take full benefit of every little thing that the agency has to offer.

Crypto.com FAQ

Here are our solutions to a few of your mostly requested questions on Crypto.com:

Is Crypto.com Trustworthy?

Crypto.com is a good exchange. The firm makes use of high-end security features and offline storage for extra asset safety. Furthermore, Crypto.com shops all fiat currency in regulated custodian bank accounts for extra trustworthiness.

Is Crypto.com Safe for My Cryptocurrency?

Crypto.com presents top-of-the-line security for all accounts. It has multi-factor authentication, offline asset storage, and a devoted security group. The agency additionally has insurance coverage in opposition to theft. However, there’s all the time a risk of hacking or theft when storing your funds in an exchange’s hosted hot wallet.

Is Crypto.com Better Than Coinbase?

Coinbase and Crypto.com are widespread exchanges and one isn’t essentially higher than the opposite. However, whereas Coinbase presents comfort for newer traders, Crypto.com has extra performance for merchants who need entry to a wider range of crypto and DeFi merchandise.