Crypto.com is a cryptocurrency exchange platform based in Singapore.It is one of the fastest-growing exchanges in the market today. Several opportunities and products are available for users on the platform.
In this article, we will provide a Crypto.com review to discuss the exchange’s features, fees, and products to help you decide if it is a suitable crypto exchange for you to invest or trade.
Founded in 2018, Crypto.com is a fast-paced cryptocurrency exchange platform based in Singapore.
The company was created in 2016 in Hong Kong, China before it was moved to Singapore three years after the Crypto.com exchange was completed. The exchange has 80 million users on the platform and over 90 countries. The exchange is also available in the US and other nations like Canada, Australia, and many parts of Europe and Asia.
Known as one of the world’s premier crypto trading platform, Crypto.com offers users over 250 cryptocurrencies, including the more popular ones like BTC, ETH, USDT, SOL, and ADA. There are also 513 trading pairs and 20 fiat currencies.
Crypto.com has a unique user interface that provides customers with an easy-to-engagement platform with many products, including a mobile app, a Crypto.com Visa card, a mobile wallet, Crypto.com Earn, and many more. There are also Defi products like a DeFi wallet and an ecosystem backed by the exchange’s native token, Cronos (CRO)
|👍 Crypto.com Pros
|👎 Crypto.com Cons
|✅ Trading discounts are available
|❌ Only live chat is provided for customer support
|✅ High-level security
|❌ Not available in some parts of the US
|✅ Large cryptocurrency selection
|✅ Great user interface
|✅ Offers educational access to users
Crypto.com offers trading options for spot and Derivatives. Trading on Crypto.com is highly engaging and intuitive. There is also margin trading on the platform.
Spot trading on Crypto.com allows you to trade cryptocurrencies with low fees. You can start trading with as little as US$1. Crypto.com allows beginner users to become accustomed to trading with a straightforward spot trading interface.
Traders can use bots for their trading experience to get the best out of the market. Crypto.com also provides users with indicators and tools like limit and market orders. While trading the Crypto.com spot, you own the digital assets you buy.
Spot trading fees are required based on the trader’s current tier. Fees begin at a default of 0.0750% for both maker and taker. Prices drop as traders increase their tier levels.
Crypto.com futures trading is perpetual. That means traders can hold a position for as long as they desire without fearing an automatic close by the platform.
Although the exchange has a good futures trading interface, it has low liquidity and a low trading volume. This doesn’t make it a suitable exchange for daily trading. It is however a great place for beginners to practice trading with small amounts or passively invest.
Futures trading on Crypto.com allows you to conduct margin trading activities with Futures Contracts and leverage. Here are a few points for you to note when embarking on Crypto.com futures
- Futures Contract Trading: Futures contract Trading details how users can conduct margin trading activities with Futures contracts.
- Supported Futures Contracts: This section lists those currently available in the Crypto.com Exchange. For example, BTCUSD Futures Contracts and ETHUSD Futures Contracts are available.
Crypto.com offers users a comprehensive guide to beginners interested in futures trading on its educational platform.
Futures trading fees on Crypto.com are similar to that of its spot market. The fees are calculated based on the trader’s current tier and get lower with each tier. The costs begin from an average of 0.0170% for makers and 0.0340% for takers.
Crypto.com provides users with discount opportunities for trades and withdrawal is open to holders of the exchange’s native CRO token. Fees on the exchange are low compared to some large exchanges but are not the lowest in the market.
Fees are calculated based on a trader’s volume and grouped into tiers. The lowest volume trading fees for spot fees are at 0.0750% for makers and takers. The fee prices can drop to as low as 0% as the trader’s volume increases.
Like the spot fees, futures fees are based on the trader’s monthly trading volume. The average fee for derivatives is 0.0170% for makers and 0.0340% for takers.
Withdrawals on crypto.com are only made in cryptocurrencies. The fees are determined by the asset being withdrawn and what network it runs on. BTC, for instance, charges a withdrawal fee of 0.0006 for any transaction. On the other hand, ETH takes a fee of 0.005 for all crypto on the ERC20 network.
There are many services that users on Crypto.com can benefit from while investing and trading funds on the platform. Looking at these products and services is essential for any potential member to choose.
Crypto.com allows users to partake in on-chain staking for rewards.
On-chain Staking on Crypto.com allows you to participate in securing proof-of-stake networks, potentially earning rewards without enduring any lock-up periods. Users stand a chance to earn up to 13.52% on returns.
The on-chain Staking feature in Crypto.com allows users to quickly and easily receive rewards and secure the top blockchains by staking their assets on a chosen blockchain protocol. Some APR examples available in Crypto.com staking are ETH with a 3.25% APR and SOL with a 5.52% APR. The rewards are automatically added to your stake, and you can unstake them anytime.
The Crypto.com DeFi Wallet is a non-custodial wallet that gives you access to a full suite of DeFi services in one place. You can earn rebates on 25+ tokens, including CRO, VVS, TONIC, ATOM, and a host of stablecoins.
There are 1000+ tokens for users to swap across multiple chains, including Ethereum, Cronos, Cosmos, and more. You can also easily view your NFTs, share them on social media, and learn about their rare traits. Your private keys are encrypted locally on your device with Secure Enclave, protected by Biometric and 2-factor Authentication.
Crypto.com is mostly commended for its mobile trading app. That is because the mobile app has a very straightforward interface for navigating.
The mobile app provides features similar to that of the web terminal. The mobile app is available for both iOS and Android devices. The app allows users to view their portfolio easily and gives them access to over 250 cryptocurrencies to trade from.
Users can also access unique services like the DeFi wallet, DeFi NFT, etc.
Crypto.com has a straightforward signup process that should only take minutes.
To sign up, first navigate your way to the signup option. You’ll be asked to enter your email address registered with your Crypto.com App, after which an OTP will be sent to your email for verification. Once that is done, you have successfully signed up with Crypto.com and can begin to enjoy the user benefits.
KYC registration is a requirement by Crypto.com before any significant transactions can be carried out. That is to ensure that the safety of users is catered to and that they get to know their user profiles.
Crypto.com provides one of the most secure platforms in the exchange market today.
Crypto.com has implemented several security measures to protect its users’ assets and information. Here are a few of them;
- Security Infrastructure: Crypto.com follows a Zero Trust, Defence in-depth security strategy across its systems and platforms. It has mandatory 2FA policies on both the front and back end to protect users. It also adheres to the principle of least privilege, meaning it has strict controls on access rights to funds in both cold and hot wallets.
- Cryptography: Crypto.com uses cryptography to protect against unwanted hacking and data breaches.
- Multi-Factor Authentication (MFA): Transactions are protected by MFA, which includes password, biometric, email, phone, and authenticator verification.
- Withdrawal Protection: Allowing external addresses through email verification is mandatory.
- Third-Party Security Audits: Crypto.com has engaged globally recognized security consulting and auditing firms like Kudelski Security to stress test and audit its core Blockchain systems.
- Account Protection Program: In response to a security incident in January 2022, Crypto.com introduced the worldwide Account Protection Program. This program includes enhancements to its security infrastructure and additional security measures, such as a mandatory 24-hour delay between registration of a new allowed withdrawal address and the first withdrawal.
Crypto.com provides 24-hour customer live chat support for users with issues. Users can also send an email in case of an urgent occurrence.
A Help center is also available on the platform where customers can read FAQs and find solutions to problems involving their trading experience.
Crypto.com is an excellent place for traders to buy and sell a vast number of cryptocurrencies and also engage in DeFi opportunities to boost funds. The exchange provides a one-of-a-kind homepage user interface that grabs your attention when you open their page.
Crypto.com also provides customers with low fees for trades, but it isn’t a perfect option for day trading because the liquidity is below average. However, it still passes as a good choice for newbie traders and passive investors.
It also has its native token, which customers can use to withdraw or trade funds.
Overall, Crypto.com is a reliable choice for traders and investors to put their money’s worth.
Crypto.com is a legitimate cryptocurrency trading platform that has been regulated in over 90 countries around the world.
Crypto.com’s native token is Cronos (CRO).
Crypto.com was initially founded in Hong Kong but is now located in Singapore.
Crypto.com is regulated in over 40 states of the United States of America, which makes it available to residents.