Crypto Exchange

Crypto.com Reviews: Key Features, Pros and Cons.

Crypto.com, previously known as Monaco, is a cryptocurrency payment platform and exchange. The company was founded in 2016 by Kris Marszalek and has since become one of the most popular exchanges in the world. In this article, we will review Crypto.com’s exchange and discuss its features, pros, and cons. This crypto.com review is concise and provided in simple language to help you learn more about the platform and make an informed choice.


Overview of the Crypto.com exchange


It is amongst the leading crypto exchange platforms available to cryptocurrency traders. Tasks like investing, trading, staking, acquisition of wallets, NFTs, and so on can be done using this platform. Over 200 currencies can be traded on this platform and the fees are pocket friendly. Holders of Cronos, a crypto.com coin (CRO) can enjoy special discounts on the platform.

crypto.com exchange review

Starting your cryptocurrency journey with crypto.com is one of the best choices beginners can make. They support a wide range of cryptocurrencies aside from bitcoin some of which are Solana, Shiba Inu, Polkadot, Ethereum, Cardano’s ADA, Litecoin, CRO, Ripple, Dogecoin, Stellar lumen, etc.


Company Profile/Headquarters


The company was birthed in 2016 in Hong Kong and boasts over 10 million customers across the globe. Over 250 cryptocurrencies are available for trading on the platform.

Despite the many features which can overwhelm beginners, crypto.com is a friendly platform for beginners and experts. If you want more than just buying to hold then this platform is for you.

Crypto.com’s headquarters are in Switzerland. It came to be through the efforts of Bobby Bao, Kris Marszalek, Gary Or, and Rafael Melo in 2016 and was initially called Monaco. In 2018 it became known as crypto.com. Today it boasts 10 Million customers and 4000 workers.

In November 2021 crypto.com got the naming rights to Los Angeles’ Staples Center and called it Crypto.com Arena in a deal valued at a net worth of $700 Million ($) and which is billed to last 20 years.


Peculiarities/ Key Features of Crypto.com


It is amongst the fastest growing app for crypto, over 250 coins can be traded on the platform.

Investors can invest and make a profit from emerging coins that are yet to hit the mainstream market.

It goes beyond trading to affording users the opportunity to spend, earn and borrow cryptos. You can access loans using crypto as collateral, this offer comes with a 25-50% loan to crypto values.

Holders of crypto.com Visa cards enjoy an 8% bonus on all expenses done using the card and the card doesn’t attract annual fees.

Rebates and interests which can rise to 10% annual percentage rates are paid daily to CRO holders.

Users can trade on the spot and derivates on different products available on the platform. The derivative platform can offer up to 100x leverage.

Fiat and cryptocurrencies can be deposited.

They have a proactive support team available for all your problems and are always ready to provide live solutions.

They help you reduce your risk by providing technical analysis and traditional trading risk management. Multiple indicators are employed to achieve this purpose, examples are stop loss market, stop loss limit, take profit limit, and market.

They have a referral system that provides extra ways of earning on the platform.

The platform is well secured and properly regulated. Security of the system is of high importance, employing 2-factor verification (2FA), trusted devices, withdrawal whitelist, and anti-phishing protection.


Trading Pairs on Crypto.com:


Crypto.com offers 150+ cryptocurrencies while coinbase offers 100+ cryptocurrencies.
The list is endless as they offer 150+ cryptocurrencies, you are certain to find almost all the crypto assets you desire here. Examples are Ethereum, Polkadot, Shiba Inu, CRO, Bitcoin, etc.
Fees Details: How much fees do they charge?
The fees are minimal compared to their likes, maker fees are around 0.04-0.20% while taker fees are 0.05-0.60%.



· Do they have hidden fees?



There are no hidden fees; however, you may incur additional fees if you use credit cards.


Crypto.com market cap and net worth


According to coinmarketcap, crypto.com coin which is now rebranded as Cronos has a market cap of $10,382,519,771 and is trading at $0.411 per coronos. In the last 24 hours as of the time of writing this article $63510321 of Cronos has been traded. Investors and experts are hoping the coins can rise up to $1 per Cronos before the year comes to an end.



How Crypto.com works


Formerly, Monaco Technologies was created to help make the world’s cryptocurrency transition faster. The idea that started as a cryptocurrency payment method has metamorphosized into a crypto hub popular across the globe.

It is available on mobile apps and desktops. You can trade on the platform after setting up your account and undergoing full prescribed verification. This trading can be achieved in two ways namely: Defi wallet and crypto.com exchange.

The crypto.com app can offer you a good crypto-fiat gateway. Using exchange for your trading can attract a taker/maker fee.

The Defi wallet is decentralized and affords you the opportunity to swap crypto with other users. This gives you total control and you can choose to swap faster by paying higher fees.

If you purchase CRO on the app or exchange then hold for 6 months or more you can be guaranteed interest and many other benefits.


Pros and cons

Advantages of crypto.com


Crypto.com supports lots of cryptocurrencies. Your options and choices are limitless. Think of any cryptocurrency and you’d certainly find it listed on crypto.com.

Lots of discounts and bonuses are available to users. Their fees are competitive and far lower than companies offering similar projects. They offer as low as 0.40% trading fees.

The system supports multiple products you can trade, stake, and swap cryptocurrencies. It has its own wallet, and credit card and affords customers the opportunity to invest in novel NFTS.

More like a crypto bank and not just a crypto exchange platform. You can buy and sell or choose to swap your coins with others. With the prepaid card (VISA) you can spend your crypto or use it for making payments in cryptocurrencies. It can also serve as a payment platform helping you receive funds and if left for a while, interests can accrue. Certain country members can even get loans in crypto on the platform.

Fees are low and very friendly. Deposits into crypto.com using wire transfer or electronic transfer may attract no fee. Cryptocurrencies can also be acquired at their truest rate. You only get charged for debit or credit card transactions through the app after your first 30 days.

You can easily convert your fiat currency to crypto. It does this with great ease, over 20 currencies of the world can be converted to crypto without paying huge fees. Amongst these currencies are USD, EUR, and GBP.

It provides cashback cards usable on Visa card-accepting platforms. You can utilize it for cash-backs after top-up. Earning more CRO gives you access to more benefits. Staking up to $400000 CRO qualifies you for 8% cashback.

Account-holders are also able to earn interest on the platform. When compared to high yield investments, this platform offers better interest rates which can go as high as 14% or even more if you use the crypto.com visa card. To earn these interests you need to acquire more CROs, store them for up to three months, and watch your interests plummet. Another way of earning more interest is to invest in a stablecoin backed by the US dollar. This attracts more interest but is limited by the crypto value appreciation rate.

You can use the platform to buy gift cards and get cash back upon purchase. In US Airbnb, Macy’s, Barnes & Noble, and lots more are examples of gift card companies that accept crypto.com payments.

Utilizing the platform you can also top up certain networks’ prepaid phones.

Crypto.com referral programs give you the opportunity to earn extra income.

It is a liquidity mining platform that can allow you to deposit tokens and mine Defi tokens.

It is very compatible with iOS and Android. Additional features are available on the app.


Disadvantages of crypto.com


Difficult to use, the plethora of functions can make the platform cumbersome to use especially for beginners who are still trying to find their footing in the crypto journey.

Not available in all countries, all of its currencies are not available for purchase from everywhere in the world. A number of the crypto on the platform are not available in US and others are restricted in some states in the US.

Crypto loan isn’t universally available, for example, it isn’t available in the US while in other countries crypto investments are used for loan collateral.

Poor customer support, many customers rate them low in terms of response to complaints. This should be worked on as having difficulties creating your account or accessing your funds can be frustrating.

More needs to be done for beginners. Crypto.com should invest more in training newbies in the crypto journey. They should provide more resources to enable people to adapt easily to the platform and crypto trading.


How to open an account on crypto.com


Opening an account with crypto.com is very easy. Do so by visiting www.cryptoexchange.com/exchange and then following the signup icon.

Make sure you accept their privacy policy and their terms and conditions then “Verify” and finish by clicking “Create account”

Then,

Go to your email to verify, and check your spam folder if you can’t find the email sent to you in your inbox.

A verification code will be sent to you via email which you need to enter on their website.

Finally, secure your account using your phone number.

After signing up, you need to be verified to access the full functionality of crypto.com. Two levels are available:

Level 1(Starter): This is passed as soon as you finish signing up.

This enables you to deposit crypto, trade, and withdraw crypto with a limit of $5000 per day.

Level 2 (Advanced): This has a daily cap of 100 BTC

On your profile (at the uppermost part of the right-hand side of the page)

Click account then follow upgrade account

Make sure to enter your official/legal names. Names must match your ID names.

Pick ID country of ID issue and ID type

Follow the prompts

Finish by taking a selfie while holding a paper with handwritten crypto.com and date then tap on “Complete submission”.

After completing the verification you can proceed to make deposits to start your trading journey


How to close account on crypto.com


Closing your account with crypto.com is highly unlikely owing to what they offer and what users hope to benefit from. If truly you have considered your options and you want to close your account here is how to achieve it.

Before you proceed note that closing your account means your crypto.com app and exchange accounts will cease to work, also your Visa card will no longer be accessible. It is advised to spend or withdraw your outstanding balance before you proceed with the process

For balances below the crypto withdrawal limit, you need to contact the support team to help you process the withdrawals. Note that the amount must be able to cover the withdrawal fee.

Your account can be closed by contacting contact@crypto.com using your registered email address with the subject titled “Close account”.

Your crypto Visa card attracts a $50 close account fee.

After account closure, you can sign up again to use the service as a new user. You will, however, be ineligible to earn promotional offers which are kept for new sign-ups including the bonus given to sign up from the BG25 Referral program.

Also, note that the company retains your private information for up to 5 years as stated in their privacy policy.



How to manage crypto.com account


This can be achieved through your mobile app, your bank accounts, transfer reviews, trades, and credit card balance can be managed.


How crypto.com compares to other cryptocurrency exchange companies


Crypto.com Vs Coinbase and coinbase Pro


The merits of coinbase are that it offers a more extensive list of assets that can be traded and is very low on fees. Maker fees for coinbase are 0.50% while crypto.com is between 0.04-0.20%. Taker fee for coin base is between 0.05-0.60% while that for crypto.com is 0.10-0.20%.

The shortfall is that it isn’t so easy to navigate compared to coinbase. Also, coinbase is more friendly for beginners.

Crypto.com offers 150+ cryptocurrencies while coinbase offers 100+ cryptocurrencies.

Crypto.com uses multifactor authentication, locally encrypted private keys, and biometrics to secure the wallet while coinbase uses AES-256 encryption and wallets with multi-signatures.

Crypto.com doesn’t have a monthly limit while coinbase has variable limits depending on payment methods, regions, and daily deposit limits imposed on users from the US.


Crypto.com VS Gemini


Both companies are used for trading digital assets and share some similarities and also differ in certain aspects. Gemini was founded in Newyork the same year Crypto.com got founded in Hong kong.

While crypto.com is a complete platform for crypto with lots of digital currencies to choose from, Gemini by trying to be more user-friendly and trustworthy has fewer assets.

Users are able to access loans and loans can be sanctioned based on the user’s crypto credit on crypto.com while Gemini neither provides nor sanctions loans.

Crypto.com offers promotional offers, bonuses, and referral bonuses often while Gemini does not.

Both platforms are quite secure; Gemini is considered better regulated and more secured. The fees are similar and decrease with increasing trading volume.


Crypto.com VS Binance


Crypto.com and Binance are both cryptocurrency exchange platforms. While Binance founded by Changpeng Zhao is the largest crypto exchange in the world Crypto.com founded by Kris Marszalek is regarded as one of the large crypto exchange companies.

Crypto.com ranks among the 30 best crypto exchange platforms while Binance sits in the top 3.

Binance has over 200 tokens that it supports while crypto.com supports trending tokens of about 87 and its market volume is lower.


Crypto.com VS Kraken


The first difference that stands out between these two is the exchange rates which are quite high for Kraken.

With crypto.com you can send, sell, purchase, replace or collect crypto while Kraken offers the opportunity to transmit, future trade, and receive crypt view in addition to regular purchase, sell, and trade transactions.

Both have different security measures in place. Crypto.com employs AES-256 encryption of digital wallets, USD holdings guaranteed by FDIC, insurance, and biometric authentication while Kraken uses 2FA email confirmation for withdrawal, stringent monitoring, SSL encryption, and API key authorization, and cold storage (Air-burned).

Crypto.com is more friendly to beginners.



Frequently Asked Questions:


· Is crpto.com trustworthy?

Yes, you can do business with them with the rest of your mind. With the security measures put in place to protect your account and secure your assets, we can conclusively say crypto.com is trustworthy.


· Is Crypto.com safe from hackers?


Previously the system was somewhat porous and crypto.com was a victim of a major hack that made customers lose over $30 million worth of digital assets. This happened a year ago and the hackers were said to have bypassed the 2FA security system. The company has however employed more measures to secure the platform and secure users’ assets. If you suspect unusual activity on your account the company requires you to report speedily so measures can be instituted to protect your account.



· How to buy with a credit card on crypto.com?


Buying with your credit/debit card on crypto.com is simple. You only need to tap the trade button, then click on buy the pick CRO or other cryptocurrencies you want to buy. The screen that follows will prompt you to add your card. Note that the payment gateway is secure.

You are required to enter your card details (Number, name, expiry date, and three digits CVV code).

A small amount ($0.10 SGD) is charged from your card for verification purposes. This amount is held for up to a week and then refunded.

Upon confirmation of this transaction, the process to start buying is complete.

To continue your purchase, return to the crypto wallet and select the account page followed by taping BUY. You pick the amount you desire to purchase and select your card for making the payment.

You are required to confirm this transaction using a fingerprint or passcode and that your crypto purchase is complete using your credit or debit card.

If you meet difficulty at any of the stages you can reach support via email or chat via the app. Avoid revealing sensitive information on your card. Also, contact your local bank to be sure your card is enabled for online payments for international companies.

· Which cryptocurrencies do they offer?


The list is endless as they offer 150+ cryptocurrencies, you are certain to find almost all the crypto assets you desire here. Examples are Ethereum, Polkadot, Shiba Inu, CRO, Bitcoin, etc.

· Which fiat currencies do they support?


They support over 20 fiat currencies including USD, EUR, CAD, USDC, SGD, AUD, and GBP.


· Do they have reliable customer service?

Yes, there is always an agent waiting to hear your complaints. You can use the email option or chat with them via the app.


· How to withdraw from crypto.com to bank /instant withdrawal


By submitting a withdrawal request you can withdraw funds; fiat can be sent to your local bank or you withdraw crypto to other wallets.

To do this you only need to click on transfer on the app homepage and click on transfer then withdraw fiat. Select your USD balance and click withdraw USD if you are withdrawing USD for example. You can add a bank account at this stage or select a previously added bank account.

Verify details and confirm to complete the transaction.

· Crypto.com withdrawal limits


Level 1 verification can withdraw a maximum of $5000 per day while Advanced level verified members have withdrawal limits of up to 100BTC per day.


· How to solve crypto.com login issues


You can solve this using email password recovery and 2FA activation systems. If the problem however persists you can contact support.


Conclusion:


We have reviewed crypto.com and rate it 6/10 for cryptocurrency-related business. It has great features that make it a great choice for expert traders we, however, urge the company to make it more user-friendly for beginners just taking off their journey in the crypto world.

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Internet marketer, content Writer and SEO expert

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