Key Takeaways
- Crypto.com is a cryptocurrency exchange platform that allows users to buy, sell, and trade cryptocurrencies.
- They have their native cryptocurrency called CRO, which can be used for various purposes on the platform, such as getting discounts on trading fees.
- Crypto.com also offers a Visa debit card that allows users to spend their cryptocurrencies anywhere Visa is accepted.
- They tout high-security measures to keep user funds safe. However, as with any cryptocurrency platform, some risk is always involved.
Do you want to start trading cryptocurrencies on Crypto.com? Our full Crypto.com Exchange review will cover everything you need to know about one of the world’s most innovative cryptocurrency exchanges in the market.
What Is Crypto.com?
Crypto.com, the company behind this exchange, was founded in 2016 before Bitcoin and the entire crypto market experienced a bull run in 2017. Their goal was to attract a larger number of users from outside the crypto space to start using digital assets. Notably, Kris Marszalek, the co-founder and CEO of Crypto.com, is also one of the biggest cryptocurrency advocates today.
Over the last few years, the Crypto.com ecosystem has expanded to include a Crypto.com App, a Visa crypto card, an exchange, a non-custodial DeFi wallet, Crypto.com Earn, Crypto.com Tax, an NFT platform, and many other solutions.
Features
There are several features for this exchange; we will share them with you in the following sections:
Trading Services
The main feature of the crypto exchange is linked to its trading services. Notably, users can easily buy and sell digital currencies on Crypto.com.
At the same time, the exchange has additional perks for stakers of CRO, the native cryptocurrency that powers the Crypto.org Chain. CRO is the platform’s native currency, and several digital assets are traded against it. There are over 100 trading pairs, and many altcoins have been added to the platform.
CRO Staking
The CRO staking option is one of Crypto.com users’ favorite features. Individuals can easily stake their CRO on the platform to pay for trading fees and gain a rebate. Moreover, many other benefits are attached to CRO staking, including a daily APR interest, access to the Syndicate, a referral program bonus, and more.
This works similarly to Binance Coin (BNB) on the Binance crypto exchange. Users who want to receive even better services can stake CRO tokens on the Crypot.com platform.
The Syndicate
Crypto.com’s The Syndicate is a platform for launching new crypto projects on its exchange. It allows users to purchase tokens at a discounted price before they are officially listed for trading.
Here, users can purchase cryptocurrencies at a 50% discount price. To do so, they need to stake CRO on the exchange. The bigger the stake, the bigger the allocation.
The minimum staking requirement to participate in The Syndicate listing event (token sale) is 5,000 CRO. But you can stake more and get a significant share of the event prize pool. Usually, the prize pool is between $250,000 and $500,000.
Also, before being eligible for The Syndicate, you must begin trading on the exchange first. But if you are already using the Crypto.com exchange as your primary crypto trading platform, that should not be a problem. Syndicate campaigns offer better purchase rates for the given cryptocurrency, similar to the image displayed above.
Supercharger
The Supercharger is a liquidity mining platform that allows users to deposit their coins and earn rewards. Users will receive rewards using the most popular Decentralized Finance (DeFi) tokens currently available.
The process is simple. Users deposit CRO in a pool (which they can always withdraw from) and get another cryptocurrency. The CRO is not exchanged for the new cryptocurrency. For example, if you deposit 10,000 CRO to the Supercharger, you can get 10,000 CRO back, plus any interest paid in another cryptocurrency. Supercharger events usually last 30 to 45 days, with a competitive Annual Percentage Rate (APY) of anywhere from 7% to 14%.
It is worth mentioning that with the expansion of the DeFi market, the Crypto.com Exchange has continued to innovate to remain competitive in the market. This is why they have added several DeFi features, one of which is the Supercharger, which is the main solution for users who want to begin trading DeFi tokens.
Exchange VIP Program
Like any other crypto exchange, Crypto.com has its own Exchange VIP Program. Retail clients can receive unique perks and many trending incentives to enhance their trading experience.
The eligibility for the Exchange VIP Program will depend on Crypto.com Exchange’s monthly trading volume. For example, users will gain access to exclusive premiums, such as additional information on product launches and VIP accounts.
Users will also get access to new product launches, a VIP account manager, API tech support, OTC block trades, research reports, and more. Referrals will also receive a 50% commission on net trading fees.
Fees
The fees for trading on Crypto.com Exchange are around 0.0% to 0.075% on maker fees and 0.05% to 0.075% on taker fees. However, you can transact at a lower cost if you choose to stake CRO.
Trading fees are charged every single time a transaction occurs on the exchange (when the order is executed). There are no hidden charges for the fees paid by users on the exchange.
In terms of withdrawal fees, they will depend on the digital asset. For example, users who want to withdraw USDT will have to pay a fee of 18 USDT. Bitcoin withdrawals have a fee of 0.0004 BTC. Litecoin (LTC) withdrawals have a fee of 0.001 LTC. Deposits are free of charge, and some may be subject to soft staking.
Is Crypto.com Safe?
Crypto.com is considered one of the top three cryptocurrency exchanges because its user funds are safe and secure.
Remember that if you hold your funds on the platform, you are not necessarily the owner of your digital assets. However, the crypto platform has never been hacked or experienced any security incidents.
When configuring your Crypto.com Exchange account, remember to always enable two-factor authentication (2FA). This will ensure that your personal information is secured and anti-phishing codes are established.
Security
Security is one of the most important considerations when using exchanges. Crypto.com knows this, and its team has worked to keep user funds secure at all times.
Furthermore, the crypto exchange has also implemented standard security features, notably two-factor authentication (2FA) and SSL.
In addition, the company holds most virtual currencies in cold storage, which prevents hackers from launching attacks. It is worth noting that since 2017, Crypto.com has not suffered a hack, breach, or major incident.
Privacy
Privacy is a key part of the cryptocurrency market. However, crypto exchange platforms must comply with KYC and AML regulations. For this reason, the exchange secures your information before users can begin handling and exchanging virtual currencies. This is a standard procedure implemented by most of the best exchanges in the world.
As Crypto.com is one of the most regulated crypto exchanges, the privacy of its users is extremely important. Since the company’s inception in 2016, no breach has ever occurred on its platforms.
Regulatory Compliance
Crypto.com is actively pursuing regulatory compliance worldwide. In August 2022, the exchange received registration approval from the Financial Conduct Authority (FCA) as a cryptoasset business, allowing it to offer crypto-related services that comply with local regulations.
Moreover, in December 2023, Crypto.com secured authorization from the FCA as an Electronic Money Institution (EMI), allowing the exchange to offer electronic money products in the UK.
Beyond the UK, the exchange even received approval from the Cyprus Securities and Exchange Commission (CySEC) in July 2022, allowing it to operate as a crypto asset service provider in the country.
And most recently, in April 2024, Crypto.com was granted a Virtual Asset Service Provider (VASP) license by the Virtual Assets Regulatory Authority (VARA) in Dubai, UAE.
Crypto.com Debit Cards
Among its products and services, Crypto.com offers five different tiered metal debit cards that allow cardholders to spend 90+ cryptocurrencies and 20+ fiat currencies anywhere a Visa card is accepted.
To receive a Crypto.com debit card, a user must stake a specific amount of the company’s native CRO token, which used to be called Monaco (MCO). The amount or unit to stake starts at $0 and goes up to $400,000.
The five tiers offer different perks, like rebates for certain services like Netflix or Spotify. The more CRO you stake, the higher the tiered card you can have and the more rewards and perks you will receive.
For example, one of the most popular Crypto.com cards is the Frosted Rose Gold / Icy White tier. For this tier, you must stake $40,000 worth of CRO, and you will receive 3% cashback in CRO. You will also be given rebates for both Netflix and Spotify, and you are also entitled to airport lounge access and zero-fee ATM withdrawals of up to $10,000 monthly. You will also be allowed to receive a higher APY when staking other coins or tokens on their platform.
Crypto.com Pros And Cons
This is a list of pros and cons for the Crypto.com review:
Pros
- Compliant with regulations.
- Secure cryptocurrency exchange.
- Includes several cryptocurrencies.
- Has its own native token, CRO.
- Has other financial products and services such as Supercharger.
- Standard trading fees.
- Several payment methods are accepted.
Cons
- The exchange app is more tailored to the needs of experienced Crypto.com users, and beginners may find it a bit complex to navigate.
- High deposit and withdrawal fees in some jurisdictions.
Final Thoughts
Crypto.com is indeed one of the most advanced platforms in the cryptocurrency market for handling digital assets today. Users can easily buy and sell virtual currencies and access to unique services and solutions offered by this platform.
Over the last few years, Crypto.com’s ecosystem has been rapidly expanding. The firm continues growing and adding new exciting solutions for users to access the best trading services in the crypto market.
