Established in 2016, Crypto.com has quickly become a well-known and respected international cryptocurrency hub. If you're looking for an easy way to get your hands on a wide range of digital currency services such as Bitcoin and Litecoin as well as a variety of other services, you'll want to check out the Crypto.com ecosystem.
Crypto.com promises to deliver you the simplest option to purchase, sell, trade, and spend cryptocurrencies by working with regulatory authorities throughout the world. App users may buy over 100 leading cryptocurrencies, earn interest on their crypto and manage their Crypto.com Visa Card, as well as many more enticing features. As a non-custodial wallet, the Crypto.com DeFi Wallet gives customers full control over their private keys.
Review of Crypto.com: Main Features
You can get up to 8% back on your purchases if you use the Crypto.com Visa Card.
The lowest interest rates offered by Crypto.com are higher than those offered by the greatest high-yield savings accounts.
Use the Crypto.com Visa Card to pay for everyday purchases with cryptocurrency using the app's built-in wallet.
As a reward for depositing crypto, you can earn between 8% and 14% (up to 14% for stablecoins) per week.
Secure crypto loans with up to 50% LTV are available through Crypto Credit.
Trade the best cryptocurrencies with the best execution prices, the lowest fees, and the deepest liquidity of any exchange in the industry with Crypto Exchange.
You may also earn up to a USD 2,000 referral incentive and a 50% commission on your friend's trading expenses for a year by referring them to the Exchange.
Crypto.com NFT - Crypto.com NFT allows users to access exclusive NFT collections from A-list artists, entertainers, athletes, and companies. The easy-to-use website lets customers acquire NFTs with a credit or debit card and sell antiques in the Marketplace for as little as $0 (US dollars).
An organization called Crypto.com's syndicate Customers of the Syndicate may acquire prominent cryptos including Bitcoin, DOT, and ZIL for up to 50% off of their regular price.
CRO can be deposited into the Supercharger pool and rewarded with popular DeFi tokens through the Crypto.com App and Crypto.com Exchange. Every day throughout the Charging Period, the user's liquidity is used to compute the reward allotment.
With the DeFi Swap fork of Uniswap V2, users may now trade and farm DeFi coins at the greatest possible rate. They can also use the Crypto.com DeFi Wallet to securely store their cryptocurrency.
If you deposit your tokens into DeFi Earn, you'll get your highest APY rate back when you withdraw them. Aave Lending V2, Yearn Earn V2, Compound, Cosmos Staking, and native CRO Staking are all currently integrated.
This page provides an easy way for users to keep track of the current token prices, market activity, market capitalization ranking, and token information on the Crypto.com platform.
Some features of Crypto.com may not be available to you because of your location. Residents of Hong Kong, Singapore, Switzerland, Malta, and the United States, for example, cannot use loan services.
Pros & Cons
Pros:
Use Cryptonews' referral code to get a $50 exchange sign-up bonus (see above). Discounted rates. Use of fiat, debit/credit cards, or cryptocurrency to buy and trade crypto.
A regulated and dependable medium of exchange. Beginner-friendly. Any website that contains a large number of products and services is likely to be tough to navigate through.
Cons:
Restricted to specific regions Centralized: Crypto.com App. The Crypto.com exchange does not accept customers from the United States.
Despite the fact that Crypto.com offers 24/7 customer service via the in-app/website chat or email, the company currently has a Trustpilot rating of 2.8 out of 5 stars.
Crypto.com fees
When it comes to centralized exchange trading fees, Crypto.com is near the bottom of the heap. For fiat-to-crypto conversion, this is one of the greatest options available in the crypto market.
Crypto.com App fees
To buy, sell, send, receive, exchange and pay with crypto via Crypto.com using the Crypto.com App is the simplest method. There are no fees associated with using the app to deposit cryptocurrencies or transfer them from your wallet to the Crypto.com Exchange or the DeFi Wallet.
The fee depending on the type of cryptocurrency for crypto
withdrawals to an external address varies being withdrawn, however there is always a fee.
Crypto.com Exchange fees
Trading and withdrawals fees are charged by the Crypto.com Exchange. Depending on your 30-day trading volume, you will receive a discount on your trading expenses. You can also use CRO tokens to stake your trades and pay your commissions.
If you stake more CRO, your trading discount will be greater. As a bonus, you'll receive 10% p.a. on your CRO stake every year. To qualify for trading fee rebates, all you need to do is deposit at least 5,000 CRO and pass the KYC verification process.
Crypto.com DeFi Swap fees
Unlike the App or the Cryptocurrency Exchange, Crypto.com DeFi Swap allows you to connect your personal Ethereum wallet to do ERC-20 token exchanges that are quick and straightforward. In order for smart contracts to function properly, you will typically be required to pay 0.3 percent in fees to liquidity providers.
You can link your Crypto.com Defi Wallet account to your Defi Swap account. When sending cryptocurrency through the Ethereum network, you will be charged a fee known as gas. You have the option of selecting between average, fast, and very fast transaction confirmation speeds, where average and super-quick transaction confirmation speeds correspond to low and extremely high transaction fees, respectively.
The design and usability of Crypto.com
Crypto.com is a crypto environment that is designed to be user-friendly for beginners, making it extremely simple to acquire, swap, and spend cryptocurrency.
Furthermore, anyone can take advantage of the company's other cryptocurrency services, which include the Exchange, DeFi Swap, and DeFi Wallet, as well as staking, Earn, Pay, and Lending.
App for Crypto.com
The most convenient way to use Crypto.com's services is to download the company's mobile application. It enables you to buy or sell cryptocurrencies, swap fiat currencies, manage your Crypto.com Visa Card, access Crypto Earn and Crypto Credit, make transactions with cryptocurrency, and perform a variety of other functions.
It also allows you to keep track of your cryptocurrency portfolio, send coins to the Crypto.com Exchange, withdraw cryptocurrencies to external wallets, and manage deposits to the platform, among other things.
When it comes to personal finance, the Crypto.com App is like a Swiss army knife for cryptocurrency: it can handle both fiat money and cryptocurrencies.
If you have an iOS or Android smartphone, you can get the app from the App Store or Google Play. A online version of the program is also available.
Crypto.com Exchange is a cryptocurrency trading platform.
With the Crypto.com Exchange, you may trade cryptocurrency for cryptocurrency.
It is designed for more experienced traders who want to trade cryptocurrency for cryptocurrency. Crypto.com Exchange, which is accessible through a web-based interface, allows you to exchange base pairings in Bitcoin (BTC), Tether USD (USDT), and Crypto.com Coin (CRO). It also offers Derivatives and Margin Trading, with leverage of up to 50x and 3x, respectively, for its customers.
It is possible that total beginners will find it difficult to navigate the Exchange because it is geared toward traders rather than the general public. You will be able to place limit, market, and advanced stop-limit/stop-loss orders starting in February 2021.
With the Crypto.com Lending service, users may buy freshly listed currencies at a discount, participate in Trading Arena events, and make huge profits by depositing CRO into Supercharger's liquidity pools. Traders that pay trading fees with Crypto.com's native CRO tokens will also be eligible for further trading fee savings, as explained here.
The Exchange may be linked to your Crypto.com App account, which makes it simple to transfer coins back and forth in the event that you need to make a deposit or withdrawal on the exchange.
Crypto.com DeFi Swap
It is possible to effortlessly connect the Crypto.com DeFi Wallet to DeFi Swap, which is a relatively new DeFi exchange that is easy to use.
Because it is non-custodial, it allows you to trade the most popular DeFi tokens in a private and secure manner, without having to provide your private keys.
DeFi Swap can be accessed over the web as well as through a mobile app.
Visa Card for Crypto.com
Users of the Crypto.com App can reserve a Visa card to use in order to spend their crypto assets. A composite metal card with extra features and benefits may be obtained in return for wagering a certain number of CRO tokens, whereas the Midnight Blue card is entirely free.
At the most basic level, you will receive 1 percent back on your expenditure, as well as USD 200 worth of ATM withdrawals and currency exchange transactions per month, depending on your spending. Larger-tiered cards include higher withdrawal and exchange limits, as well as rewards such as Spotify, Netflix, and Amazon Prime rebates, among other perks and benefits.
Security Measures
Crypto.com adheres to a "Defense in Depth" philosophy, which means that security processes are integrated into all elements of the company's operations. The site has benefited as a result, and it is now one of the few cryptocurrency systems that has not been compromised.
On the service side of things, Crypto.com maintains complete control over its users' assets by storing them in offline cold storage. The security solution was developed in collaboration with Ledger and makes use of the company's institutional-grade custody solution, Ledger Vault, which makes use of technologies such as hardware security modules (HSM) and multi-signature keys.
Additionally, Crypto.com's cold storage facility is covered by insurance to the tune of USD 500 million, which includes direct and indirect coverage through custodians, physical damage, and third-party theft, among other things.
Additionally, Crypto.com uses a hardware security module and multi-signature keys to safeguard its hot wallets. Those money, which are held in the company's hot wallets, are corporate funds, and they represent only a fraction of its total holdings, which are adequate to cover the company's daily withdrawal requests from clients.
Regarding fiat currency security, customer deposits are maintained in highly regulated custodian bank accounts throughout the world, allowing them to benefit from local laws and regulatory frameworks.
For example, the Federal Deposit Insurance Corporation (FDIC) insures USD deposits up to a maximum of USD 250,000 in value for customers in the United States. However, Crypto.com allows you to keep ownership of your fiat funds, which means that they will never be seized by Crypto.com or its creditors.
Two-factor authentication (2FA), as well as a combination of a passphrase, password, biometric (fingerprint and face ID), email, and phone verification, are all available on the Crypto.com user side.
Furthermore, the DeFi wallet allows you to retain control over your private keys, allowing you to self-custody your cash rather than relying on the platform's security to do so.
Conclusion:
Crypto.com is a crypto trading platform that is designed to be user-friendly for beginners. It makes it extremely simple to acquire, swap, and spend cryptocurrency.
Aside from that, anyone may take advantage of the company's other crypto services, which include the Crypto.com Exchange, the Crypto.com DeFi Swap and Wallet, Crypto Earn, and Pay. As a result, it serves as a great one-stop shop for everything crypto.
Why is Crypto.com for you?
- If you're looking for a low-cost **cryptocurrency exchange** and an easy way to convert your fiat currency into cryptocurrency.
- Cryptocurrency novices like you don't require a lot of crypto schooling.
- A cryptocurrency platform is where you want to do more of your financial transactions, such as depositing funds, withdrawing cash, and investing.
- You are willing and able to deposit big sums of money in the CRO stock market.
