Crypto.com Review
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Finding a trading platform suitable for beginners and experienced traders alike is no easy task. However, Crypto.com fulfills this role and has become very popular over the past few years. But how does it compare to other popular trading platforms? Throughout this Crypto.com review, we'll be taking a detailed look at the platform, discussing its features, fees, and the differences between the Crypto.com app and exchange.
Our Take
Bottom line:
Crypto.com is one of the best crypto platforms and apps available and offers a wide variety of features divided into a beginner-friendly app and a more feature-rich exchange. It is excellent for beginners to buy cryptos securely using a credit/debit card anywhere in the world. However, traders looking for advanced features can derive value from Crypto.com Exchange, making the platform great for traders and investors of all skill levels.
Promotion:- Suitable for beginners and experienced traders
- Very competitive fees
- Feature-rich platform
- Previously hacked
- Platform split into sections is confusing
Pros Explained
- Suitable for beginners and experienced traders. Crypto.com is divided into two platforms. As such, it's been able to offer many features while remaining accessible for beginners. As such, it's one of the most all-encompassing trading platforms available.
- Very competitive fees. The base trading fees charged by Crypto.com are 0.075%, one of the lowest in the industry. As such, the platform is excellent for investors or traders looking to maximize their returns.
- Feature-rich platform. Crypto.com is on the cutting edge of crypto. The platform is packed with valuable features meaning there's something available for everyone. Additionally, users are unlikely to be left having to switch to another exchange because Crypto.com has neglected to add a new feature, improving the platform's longevity.
Cons Explained
- Previously hacked. While Crypto.com is known for offering strong security, the hack it suffered in early 2022 significantly impacted consumer confidence. While the platform has its merits, investors are recommended to only store necessary funds on Crypto.com and should move everything else into cold storage.
- Platform split into sections is confusing. Although it has its benefits, having Crypto.com split into two platforms with different features and fees makes things far more confusing such as transferring assets between the Crypto.com App and the Exchange.
Crypto.com Comparisons and Alternatives
The team at HedgewithCrypto has written detailed comparisons and alternatives of Crypto.com with other platforms with similar features. These include Crypto.com vs Coinbase and Crypto.com vs Swyftx.
| Exchange | Crypto Assets | Trading Fees | Rating | Promotion | Website | Review |
|---|---|---|---|---|---|---|
 Binance | 385 | 0.1% (spot) and 0.02% / 0.04% (Futures) | Rating  | Up to $100 welcome bonus | Visit Binance | Binance Review |
 Kraken | 222 | 0.16% (maker) and 0.26% (taker) | Rating | None available at this time | Visit Kraken | Kraken Review |
 eToro | 79 | 1% | Rating | None available at this time | Visit eToro eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. | eToro Review |
Crypto.com At A Glance
Founded in 2016, Crypto.com is a world-renowned Singapore-based platform for buying and selling crypto assets. With the company regulated by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC), Crypto.com provides a secure way for its 80+ million users to access the cryptocurrency market.
Crypto.com is split into two platforms, the Crypto.com mobile app. and the Crypto.com exchange. While the former is designed to be as easy as possible to operate as its primarily aimed at beginners, the latter is a more feature-rich platform intended for experienced users frequently crypto trading.
| Exchange Name | Crypto.com |
|---|---|
| Features | ICO Calender, Earning Products, Trading Bots, Lending, Sub Accounts, Native Coin, Visa Debit Card, Crypto.com Pay |
| Accepted Fiat Currencies | USD, EUR, GBP, AUD, CAD, +20 Others |
| Deposit Methods | Credit/Debit Card, Wire Transfer, Direct Deposit, PayPal, Crypto |
| Supported Cryptocurrencies | 293 |
| Number of Trading Pairs | 493 |
| Trading Fee | 0.075% |
| Customer Support | Help Center, Live Chat |
| Security Measures | 2FA, Regulated Banks, Cold Storage, Address Allowlisting |
| Mobile App | Yes (Android and IOS) |
Crypto.com Features Reviewed
Beginner-Friendly and Feature-Rich
Crypto.com is highly intuitive, user-friendly, and easy to use. Furthermore, with the company offering a beginner-friendly app as well as a dedicated exchange for trading crypto, the platform is suited to individuals of all experience levels.
Buy Crypto At True Cost
Users looking for the best way to buy crypto could feel disheartened by the substantial spread fees many exchanges charge. However, Crypto.com enables users to purchase crypto at actual cost, making it an excellent tool for maximizing value.
Crypto.com Earn
A benefit of using Crypto.com is the ability to earn interest on cryptocurrencies. To obtain the bonus, the deposited assets must be held within Crypto.com to earn up to 12.5% p.a. on crypto and 6.5% for stablecoins. The Crypto.com Earn interest amount is paid out weekly in the deposited coin. So, for example, Bitcoin (BTC) deposits will earn interest paid in BTC.
Staking 50,000 or more CRO tokens unlocks an additional 2% p.a. interest on fixed-term contracts. However, the extra interest is paid in CRO tokens, not the original asset. Crypto.com Earn supports a total of 11 digital currencies that include popular coins like Bitcoin, Ethereum, Litecoin, XRP, and Binance Coin.
Crypto.com Lending
If something unexpected occurs, investors could be forced to sell a portion of the crypto holdings, but doing so can have complex tax implications. However, Crypto.com offers a lending platform enabling users to use crypto assets as collateral for a loan.
After depositing an accepted cryptocurrency, users can receive their loan instantly and pay it flexibly over 12 months. Furthermore, the interest accrued from an active loan can be reduced by staking at least 100,000 of Crypto.com's native coin, CRO.
Crypto.com Trading Bots
Trading or investing in cryptocurrency can be time-consuming, but Crypto.com has released two trading bots on their exchange to help automate the process. Those looking to invest in crypto regularly can utilize the dollar-cost-averaging (DCA) bot to invest in specific cryptocurrencies at predetermined intervals. The exchange offers various investable baskets containing a particular category of assets (e.g., smart contract assets, top 10 assets), but users can also create custom baskets to fulfill specific investment goals.
Crypto.com has also created grid bots that buy and sell cryptos when specific requirements are met. Unfortunately, no pre-built user-created bots are available, but Crypto.com does offer an auto mode, making the service accessible to anyone.
Sub-Accounts
To assist users with managing their accounts, Crypto.com enables users to create free sub-accounts. Designed so users can divide their trading funds and open multiple positions on the same asset, Crypto.com sub-accounts are simple to create and have unique wallets, making them an excellent tool for experienced traders looking to make account management easier. Although, not suitable for beginners.
CRO Token
Like Binance, Crypto.com offers its own native cryptocurrency, Cronos (CRO), which provides holders with several benefits when staking CRO tokens.
Staking CRO on the Crypto.com app provides:
- Increased cashback
- Better Crypto.com Earn rewards
Staking CRO on the Crypto.com exchange provides:
- Rebate when paying trading fees with CRO
- Earn Increased interest on CRO balance
Crypto.com ICO Calendar
Crypto.com offers an Initial Coin Offering (ICO) calendar for users looking to invest in low-cap projects. There are regularly 5-10 coin launches at any given time, providing investors with an excellent opportunity to find their next favorite project – but it also means there is often less participation and fewer high-quality projects than other crypto launchpads.
MCO VISA Card
Crypto.com offers a Bitcoin Debit Card provided by Visa to spend crypto and earn up to 5% cashback rewards. Other than a $4.99 issuance fee, there are no setup charges or annual fees for the Crypto.com card, but certain benefits, like cashback rewards, require specific amounts of CRO to be staked to be unlocked.
In addition to earning cashback, Crypto.com Visa cardholders can benefit by earning rebates when spending with Crypto.com partners, including Spotify, Netflix, Amazon, and Expedia. The Crypto.com debit card can be used anywhere that accepts Visa, making it versatile. Still, cashback rewards are known to be changed frequently, making it challenging to recommend staking large amounts of CRO to access the increased benefits.
Crypto.com Pay
Crypto.com is a strong advocate for blockchain technology and the adoption of cryptocurrencies. As such, the exchange has released Crypto.com Pay, a system for merchants to integrate crypto payments into their websites.
Crypto.com merchant fees to settle transactions in cryptocurrencies offer savings of up to 80% compared to traditional payment systems such as PayPal and major credit card companies. Online businesses can be paid in Bitcoin, Ethereum, Litecoin, or Cronos, then converted to a fiat currency.
Users of the crypto platform can also spend funds in their crypto wallet anywhere Crypto.com Pay is accepted, helping to boost the real-world utility offered by cryptocurrency.
Creating and Verifying a Crypto.com Account
Due to Crypto.com being split into two separate platforms, the initial registration process is more confusing than other cryptocurrency exchanges. Customers can either register on the mobile app or create an account on the Crypto.com exchange. While verification isn't required immediately, it's needed to access the majority of features present on the platform. For more information on how long the Crypto.com verification process is, read this next.
To buy or sell cryptocurrency, the user must complete the Know-Your-Customer process by providing their full name, address, photo ID (passport, driving license), and a selfie. Unfortunately, there is no way around verification, making Crypto.com unsuitable for traders looking for a no-KYC exchange.
Supported Fiat Currencies and Deposit Methods
To ensure that its 50+ million users can quickly get funds onto the platform, Crypto.com supports 25 fiat currencies, including USD, EUR, GBP, AUD, and CAD. Crypto.com offers support for an impressive range of deposit methods. Customers can deposit funds using wire transfers (ACH, SEPA, Faster Payments, Swift), credit/debit cards, PayPal, and crypto. As fees can vary, checking any costs before making a payment and depositing using a local provider is recommended.
Supported Cryptocurrencies and Trading Pairs
Crypto.com supports numerous unique cryptocurrencies, making the exchange great for traders buying and selling Bitcoin multiple assets. In total, 293 coins are available on Crypto.com, including popular assets like Bitcoin and lesser-known projects like Zilliqa.
While the Crypto.com app only supports direct crypto purchases, the Crypto.com Exchange boasts an impressive 493 trading pairs denominated in USD, USDT, BTC, and CRO.
Crypto.com Trading Fees
Crypto.com App
Anyone wishing to buy cryptocurrencies on the Crypto.com mobile app using a credit or debit card is subject to a standard fee of between 1.49% and 4% depending on the user's country. The exact cost will be displayed on the app when placing the order. However, there is no fee for buying crypto using funds already on the app.
Crypto.com Exchange
The Crypto.com Exchange uses a maker/taker fee structure with volume-based trading fee discounts. While the costs for transacting on the Crypto.com Exchange start at 0.075% per transaction, they can be reduced to as low as 0% and 0.05% (maker/taker) by completing over $10 million worth of transactions within 30 days.
| 30-Day Trading Volume | Trading Fee (Maker / Taker) |
|---|---|
| < $250,000 | 0.0750% / 0.0750% |
| ≥ $250,000 | 0.0700% / 0.0720% |
| ≥ $1,000,000 | 0.0650% / 0.0690% |
| ≥ $5,000,000 | 0.0600% / 0.0650% |
| ≥ $10,000,000 | 0.000% / 0.0500% |
Deposit & Withdrawal Fees
The Crypto.com Exchange does not charge an extra fee to deposit or withdraw cryptocurrency assets. However, a small variable transaction fee based on the asset is charged. For example, the cost to transfer from Crypto.com to Coinbase for Bitcoin is 0.0005 BTC.
While the Crypto.com Exchange has competitive costs, the standard Crypto.com app charges notably higher fees on certain assets. For example, Bitcoin is 20% more expensive to withdraw at 0.0006 BTC. However, thankfully, there are zero fees to deposit or withdraw fiat currency from the Crypto.com Exchange or app. For a full tutorial on how to withdraw from Crypto.com to a bank account or wallet, read this guide.
Crypto.com Fees Compared
Compared to other exchanges, Crypto.com is one of the most cost-effective platforms for trading crypto. To highlight how the fees charged by Crypto.com compare against other cryptocurrency platforms we've reviewed such as Gemini and KuCoin, we've included a comparison table below.
| Exchange Name | Trading Fees |
|---|---|
| Crypto.com | 0.075% |
| ByBit | 0.1% |
| Binance | 0.1% |
| KuCoin | 0.1% / 0.3% |
| Gemini | 1.49% |
Crypto.com Ease of Use
Being designed for beginners, the Crypto.com app is simple to use and highly accessible. However, while suitable for customers looking to buy crypto with fiat currencies quickly, users wishing to perform analysis or open crypto trades must do so on the Crypto.com Exchange.
The Crypto.com Exchange offers a sleek and intuitive platform for traders to speculate on digital currency markets. The trading platform provides advanced features, tools, and crypto indicators to analyze the price action. The charting software and tools are provided by Tradingview, meaning most crypto traders will already be familiar with the interface.
The Crypto.com Exchange platform users an order book-based interface, similar to most other crypto exchanges. As such, users can view vital details about past and current orders to get an idea of buyer sentiment. Furthermore, the Crypto.com exchange provides access to several order types making it easy to open a position with precision.
Although Crypto.com does have a derivatives and margin trading platform, it's inaccessible to the majority of Crypto.com customers. While available in some regions, over 85 countries, including the US, UK, Australia, and most of Europe, cannot access the feature due to strict regulations. However, Crypto.com is still a powerful crypto exchange for spot trading.
Crypto.com Mobile App
Crypto.com offers a mobile app for the standard platform and the exchange, significantly boosting the platform's accessibility. The Crypto.com app is a beginner platform that provides an easy and safe way to buy crypto using a bank card. Unlike most other trading apps, the Crypto.com app acts solely as a fiat-to-crypto gateway and offers no analytical tools. However, it's possible for users to monitor their portfolios, manage their cards, and access Earn products directly on the app.
On the other hand, the Crypto.com Exchange app provides access to advanced charting tools and technical indicators provided by TradingView. Furthermore, customers can access a vast number of trading pairs and open positions using advanced order types. However, while staking is supported on the exchange app, card management is reserved for the standard app.
Overall, the suite of Crypto.com mobile apps provides access to most trading-centric features present on the web platform but leaves out advanced options like trading bots and sub-accounts. Furthermore, being divided into two unique apps ensures that Crypto.com remains a user-friendly platform suitable for novice and professional traders.
Customer Support
Despite being one of the largest crypto exchanges, we were disappointed to see that Crypto.com didn't offer phone support, with users forced to engage with a representative via a cumbersome live chat interface. Furthermore, while the team claims to respond within three hours, many customers have reported poor customer service.
Although Crypto.com provides a help center designed to answer basic questions, it took a lot of work to find, hindering its usefulness for beginners. While not terrible for a fledging exchange, Crypto.com needs to work on its customer support and response times, considering its status as a major player in the crypto space.
Security Features
The safety of funds and information held by a cryptocurrency platform is vital when selecting a trading platform considering several cryptocurrency exchanges have been hacked in recent years.
Crypto.com takes a security-first approach when it comes to security and has implemented several strict measures and protocols to protect customers' assets. The company utilizes cold storage to secure 100% of client assets, holds funds in US-regulated bank accounts, and has a dedicated team to monitor all transactions on the platform. Users can also add protection to their accounts by setting up two-factor authentication (2FA), allowing withdrawal addresses, managing trusted devices, and creating an anti-phishing code.
Despite the company's best efforts, Crypto.com was unfortunately hacked in 2022, which resulted in lost funds totaling over $34 million. However, Crypto.com ensured that none of its customers were left out of pocket due to the security breach. Nevertheless, caution should be used when storing funds on the platform.
Frequently Asked Questions
Crypto.com is a legitimate cryptocurrency exchange that is secured and regulated. US customers' fiat wallet balances (in USD) are covered by FDIC insurance up to $250,000, which provides a level of assurance funds are safe on the platform.
Kris Marszalek, who leads of team of 200+ employees around the world located in 11 offices, is the co-founder and CEO of Crypto.com. The company is based in Singapore but has ten offices worldwide.
Crypto.com does not offer a demo account with its Exchange for beginners to learn how to trade or become familiar with the trading platform. Before depositing real funds to the Crypto.com Exchange, new traders can use other platforms which offer risk-free crypto trading with a practise account.
Crypto.com is a global cryptocurrency exchange that is available to use in several countries around the world. The exchange launched its service in Australia and obtained a license from the Australian Financial Service License (AFSL) in late 2020.
The digital currency app has quickly become one of the best crypto exchanges in Australia that accepts Australian Dollars (AUD) via a bank card transaction. Customers no longer need to pay foreign exchange conversion fees to buy crypto using the Crypto.com app.
Conclusion
Crypto.com is a unique trading platform that has become a hub for investors to buy cryptocurrency using fiat. It's also a suitable place for investors that want to cash out of Bitcoin to USD or any of the supported fiat currencies. While researching for our Crypto.com review, we were impressed by the platform's feature set and incredibly low spot trading fees. Additionally, being split into a beginner-friendly app and an advanced crypto exchange is an excellent solution for catering to a diverse audience of crypto enthusiasts.
Crypto.com is an excellent all-around trading platform, but its recent hack is a cause for concern, and its unique interface could be difficult to get to grips with initially. However, while users should only store the minimum possible amount of funds on the platform, Crypto.com remains an excellent trading platform for beginners and experienced traders.
| Review Criteria | HWC Score |
|---|---|
| Features | 4.6 / 5 |
| Supported Fiat and Deposit Methods | 4.6 / 5 |
| Supported Crypto & Trading Pairs | 4.5 / 5 |
| Fees | 4.5 / 5 |
| Ease of Use | 3.9 / 5 |
| Customer support | 3.5 / 5 |
| Security Measures | 3.5 / 5 |
| Mobile App | 4.5 / 5 |
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