Crypto.com aims to evolve cryptocurrency into an everyday commodity by providing various services for cryptocurrency users. Services on Crypto.com include; crypto lending, App, Visa Card, Exchange, Defi swap, staking, Defi Wallet, and many other available services. But it's the blend of significantly fewer charges and amazingly generous rewards programs for their users that sets them apart.
A quick look at Crypto.com
|Minimum trade||5 stars||For Bitcoin, the minimum trade is $1; for other cryptocurrencies, it is different.|
|Transaction fees||4.5 stars||There are no trading fees, but credit/debit card transactions incur a 2.99% transaction fee.|
|cryptocurrencies available||3 stars||Over 200.|
|Crypto-to-crypto trading pairs||1 star||None.|
|Website transparency||5 stars||- You can easily find important information on the Crypto.com website, such as investment minimums, supported assets, and how to close an account.|
|Can you use your digital Wallet?||Of course|
|Mobile app||4 stars||Crypto.com's main app, with an average rating of 4.3 stars, is available on iOS and Android.|
|Customer support||2 stars||For the most part, Crypto.com only provides chat-based support.|
What Crypto.com is known for and its Strength and weaknesses
Crypto.com is a famous crypto exchange that has a variety of crypto assets and blockchain-related products. Users can buy, sell, and trade a wide range of currencies while paying low trading fees. The company also provides cryptocurrency credit cards, a separate wallet, an NFT marketplace, and a decentralized exchange. Users can also earn up to 14.5 percent interest by staking their crypto or keeping it in a Crypto.com wallet for a set period.
Crypto.com is a respectable platform for those looking to purchase and keep digital assets such as Bitcoin and Ethereum although charges are limited to 0.40 percent. and drop as trading volume or CRO currency holdings increase. Crypto.com currently supports 250 currencies and provides advanced order types and trading crypto futures.
Keep in mind that the cryptocurrency market is volatile, and these investments are high-risk, so only invest money you can afford to lose.
Available Cryptocurrencies on Crypto.com.
Crypto.com supports over 200 currencies for spot trading, with a subset of those supported for staking. While there are far too many currencies to list here, you can expect to be able to buy and sell the majority of the most widely traded currencies. Crypto.com's CRO coin is also available. The firm rewards you with lower trading fees, higher staking interest rates, and higher credit card rewards if you have a significant stake of CRO.
Crypto.com's mobile app, available for Android and iOS devices, serves as its central hub. If you're used to trading stocks through a mobile app, you'll find the experience to be intuitive and straightforward.
You can quickly view your portfolio and a list of popular assets with the Crypto.com app. The Crypto.com mobile app has everything you need to trade currencies, earn by staking your cryptocurrency, make cryptocurrency payments, and sign up for a Crypto.com credit card. Crypto.com's minimum trades vary depending on the cryptocurrency being traded. The platform regularly adjusts the minimum for Bitcoin, the most valuable cryptocurrency, to keep it at $1.
For transactions with less than $25,000 in total monthly trading volume, new Crypto.com users without any CRO staking will be charged 0.4 percent. The charges are lower than those set by some large industry competitors, but they aren't the cheapest.
Also, the price of using Crypto.com is determined by how you fund your account. The transaction fee for a Crypto Credit Card or Debit transaction is three percent, which is relatively high for a crypto exchange structure of trading and transactions charges. However, you can avoid these fees by transferring funds into your account via A.C.H. If you want to withdraw cryptocurrency from the platform, you'll have to pay a fee. The cryptocurrency in question determines this fee. For Bitcoin, the charge is 0.0004 BTC.
Higher-volume traders can qualify for fees as low as 0.04 percent as a maker or 0.1 percent as a taker without CRO. staking. When you have at least 5,000 CRO in your Wallet, you can get a discount on trading fees. Traders with up to $25,000 in monthly volume pay 0.36 percent at that point. With a more significant stake, rates fall.
Security and Options for digital wallets
Crypto.com employs various security measures to keep customer accounts safe, including multi-factor authentication (M.F.A.) and whitelisting. To help protect your account, it's also essential to use a strong password and personal online security practices. Because cryptocurrency transactions are irreversible, it's unlikely that you'll be able to recover any lost funds if your account is hacked.
Users can connect multiple digital wallets to Crypto.com's service, and it also has its cryptocurrency holding options. The decentralized Wallet is a standalone app that helps users receive rewards on assets used in blockchain-based Defi applications.
Crypto.com has several steps to protect you if you choose to hold assets on the exchange. They claim to keep customer’s cryptocurrency in "cold storage," which means it can't be accessed easily over the internet and is thus less vulnerable to hackers. According to Crypto.com, fiat deposited on the exchange is retained in bank accounts that are regulated.
Crypto.com employs robust defiance monitoring and stores customer assets in cold storage offline in addition to its security measures to avoid loss of assets. Their collaboration with local banks in the United States is to provide F.D.I.C. insurance on U.S. dollar balances. The company claims to have $750 million in insurance to cover losses in case of an incident or attack that compromises customers' assets.
Trading Pairs (Crypto-to-crypto)
The Crypto.com app prevents U.S. users from exchanging crypto assets for one another; every transaction must include fiat currency on one side. Crypto.com's Defi Wallet app contains some options for swapping specific tokens for more advanced users.
Crypto.com primarily provides support via chat. The company says it will respond to email inquiries for issues like account cancellation. Crypto.com's customer service at Crypto.com is available via email, live chat, and a help page. Customers of Crypto.com do not have access to phone support. While email and chat are available for customer service, several users have complained about slow responses and a lack of assistance resolving account issues.
Mobile App Availability
Users in the United States can access Crypto.com's services mainly through its mobile applications, so if you want to use it, make sure you are familiar with how the app works on your phone. According to customer ratings, the platform offers apps - a 4-star product - for iOS and a 5-star product for Android. The app can also connect to the separate Defi Wallet app, with an average customer rating of around four stars.
When it comes to users’ satisfaction, an overall customer reviews for Crypto.com are mixed, with a mediocre Trustpilot rating of 2.2 out of 5 stars. The majority of negative reviews focus on poor customer service, locked accounts, and withdrawal issues. Hacked accounts and lost funds have been mentioned by others, which calls for concern.
Cryptocurrency exchanges are infamous for having poor customer service, and Crypto.com is no exception. Because customer support isn't always helpful, it's a good idea to think of Crypto.com as a self-service website. It's probably best for those familiar with online financial products and won't require much help.