The past few years have seen a significant increase in new investment opportunities. As the financial landscape changes, people looking to maximize their earnings should know the different platforms available.
Crypto.com is one of the companies that have emerged in recent years. It offers a platform for cryptocurrency payments and various other features. With Crypto.com, users can buy, sell, and spend cryptocurrency through their mobile app.
What is Crypto.com
Crypto.com is a platform that helps users buy, sell, and trade cryptocurrency. It also has an NFT marketplace where people can find digital art and collectibles.
The app supports various coins, including Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC), which are some of the most popular cryptocurrencies available today.
Founded in 2016, it offers over 100 cryptocurrencies to customers worldwide. The low pricing and straightforward application make it ideal for beginner to advanced users. Another popular choice for all types of users is Cex.io. To find out more, read our Cex.io review.
- Can support many cryptocurrencies
- Competitive fees with discounts available
- Earn interest in crypto
- Strong security
- Has an ecosystem of cryptocurrency products
- Not all currencies are available in every country
- Poor customer service
- Trading fee discounts may be confusing
Is Crypto.com Safe?
The Crypto.com platform prioritizes security and data privacy. Hence, it has security features to ensure that users' funds are safe at all times.
The platform stores 100% of the users' cryptocurrencies offline in cold storage. In addition, their strategic partnership with Ledger enables them to integrate an institutional-grade custody solution, the Ledger Vault.
Crypto.com follows a secure software development lifecycle wherein its peer-reviewed software combines static and dynamic source code analysis tools. They also use Multi-Factor Authentication (MFA), including password, biometric, phone, email, and authenticator verification.
It engages with globally-recognized security consulting and auditing firms such as Kudelski Security to audit their core Blockchain systems. However, keep in mind that users can still be at risk of hacking or other security breaches beyond the company's control.
Other safety features include:
- Leverage of hardware security modules (MHS), key-generation and multi-signature technologies
- Cold storage insurance against physical damage and third-party theft
- Strict controls on access rights to cryptocurrencies in both cold and hot wallets
See if Crypto.com Is a Good Fit for You
Platform & Features
The platform only has an exchange portal that also functions like their application. Fiat deposits and withdrawals are not supported on the portal; however, crypto transactions can be made. To have a smoother experience, you can use the Crypto.com app instead.
Crypto.com Mobile App
Crypto.com mainly functions in their mobile app, which is more intuitive and straightforward than their desktop version. It allows you to use a virtual Visa card that's linked directly to your crypto wallet to easily convert cryptocurrencies into fiat currency such as dollars, pounds, and others.
The application is available for iOS and Android, allowing users to store cryptocurrencies on any device.
CEX.IO Fees & Commissions
Crypto.com fees are volume-based, meaning users get lower costs when their trading volume increases. Trading volumes are categorized into nine levels with corresponding fees for maker and taker transactions.
Users can also stake at least 5,000 Crypto.com coins (CRO) to get discounted trading fees. In addition, you can pay your trading fees in CRO to help you save more and even get earnings of 10% per annum on your CRO stake.
In spot and margin trading, the fees of a maker transaction range from 0.4% at Level 1 ($0 to $25,000 30-day trading volume) to 0.04% at Level 9 (at least $200,000,001 30-day trading volume). Meanwhile, taker fees vary from 0.4% to 0.1% at the same levels.
However, when staking at least 5,000 CRO, these fees are reduced to 0.36% to 0.036% for makers and 0.36% to 0.09% for takers. These discounts get higher the more CRO you stake.
There are currently no Crypto.com fees and limits for depositing or exchanging crypto. However, there are withdrawal and purchase fees depending on the coins and the card used for purchasing, respectively.
Using a credit or debit card for purchasing will entail a 2.99% fee. On the other hand, Crypto.com withdrawal fees for some of the most popular coins on the market are listed below:
- ETH: 0.0001 - 0.005
- BTC: 0.0001 - 0.0004
- LTC: 0.001
- BUSD: 5-100
How to Open An Account
First, download the Crypto.com app from the Apple or Google Play store to open an account. After this, you can enter the details like your email and password.
Verifying your account requires KYC verification. This is a simple process wherein you need to input your name, photo ID picture, and selfie. A payment method will then be linked after.
Verified users can deposit funds and make withdrawals depending on the platform's limits.
If you want to deposit into the Crypto.com Exchange, you can use the Crypto.com Wallet or an external wallet address. Just log in to your app and tap "Transfer" and then "Withdraw." Then, in the "Crypto" option, select "Crypto.com Exchange." The transfer is instant and without fees.
On the other hand, you can withdraw through an external wallet address or the Crypto.com App. Make sure to add a withdrawal address if you're using an external wallet.
Once every detail is filled out, you can enter the amount you want to withdraw and then select the destination and press "Review Withdrawal." If all of the details are correct, you can then click "Confirm Withdrawal."
If you withdraw from an external address, it may take up to two hours to process, but it will reflect instantly if you withdraw via the app.
How to Trade Crypto on Crypto.com
The trading process of the broker platform is straightforward. Users need to be at the Starter level or higher verification to trade cryptocurrency.
Visit the website and log in to your account. Next, navigate to the "Markets" page and select the market you want to trade-in. Next, choose the pair you want to trade and press the "Trade" button. You may then choose to buy or sell a cryptocurrency and fill in the necessary fields afterward.
How to Sell NFTs
Non-Fungible Tokens (NFTS) are non-interchangeable unique assets stored on a digital ledger, also known as your blockchain. These represent real-world or virtual items such as music, video game items, and many more.
The Crypto.com platform enables users to sell NFTs in just a few clicks. You may log in to your Crypto.com NFT account to start the selling process. Then, select "My NFTs" and go to the "Collectables" tab. Choose which item you want to sell and then select one of the two pricing models:
- Fixed priced model
- Auction model
Once you have selected the model, you must wait for your NFT to be sold. After that, Crypto.com will take care of the rest.
On the other hand, if you plan to buy NFTs, create an account in the NFT Marketplace. Once you have chosen a username, password and verified your email address, you may browse the items in the marketplace and select which one you want to buy. Then, input the amount you want to buy it for. If the item is on a bidding auction, just place your best bid.
Afterward, select your payment option and confirm your payment. Once the transaction is complete, the bought item will appear in the "Collectables" tab in your account.
How to Earn Money by Staking Crypto
Staking pertains to cryptocurrency holders placing their coins in a wallet for maturation. When staking, the only thing that users have to do is keep their wallets open to continue earning new cryptocurrencies.
Your coins are contributing to the Proof of Stake, which validates transactions on the blockchain. In return, you will receive a percentage of the block reward.
Crypto.com users can earn money through this method using CRO. To do this, first, log in to your account and then select "Stake & Earn." Next, click "Stake CRO," input the CRO amount, and select "Review Staking." Finally, select "Confirm" after reviewing the details. You can withdraw staked CRO after 180 days.
Other crypto coins are also accepted for soft staking. Starter or Advanced users must first opt-in for "Soft Staking" in the "Stake & Earn" page and then agree to the terms and conditions. Of course, make sure that the balance in your Exchange account is at least equal to the minimum holdings required.
You can check their website for the full list of coins accepted on the platform. Here are some popular coins with their interest rates:
- BTC: 0.25%; 0.75%*
- ETH: 0.5%; 1.0%*
- USDT: 2.0%; 4.0%*
- ATOM: 0.5%; 1.0%*
- BCH: 0.5%; 1.0%*
* interest rate for 100,000 or more CRO staked
How to Get a Crypto.com Card
Crypto.com has a Visa card that offers multiple benefits and rewards. To apply, first, download the mobile app and complete their KYC verification.
Then, go to the "Card" page, select your preferred card tier, and stake the CRO equivalent. Afterward, submit and confirm your delivery address for shipment purposes. Your Visa card will then be shipped out, and you will be asked to update the app and stake CRO.
There are currently no setup, shipping, annual, or monthly fees for this card — you only need to own CRO and stake for the required duration.
It's convenient to use a digital debit card since the funds can be spent immediately. Using the card can also help you save money since some special offers and discounts are exclusive to holders of digital debit cards. Additionally, you can track all your transactions in the app.
The Crypto.com Visa card offers a variety of benefits depending on the card tier. Users can enjoy CRO rewards, cashback, rebates on travel bookings and popular subscription plans like Spotify and Netflix, unlimited access to the LoungeKey™ Airport, and a lot more.
Customer support is available through live chat, email, and a help page. Crypto.com customers don’t have phone support available to them. Additionally, a lot of customers have complained about low-quality and slow customer support responses.
The Crypto.com platform is a helpful tool for users looking to trade or stake crypto and buy or sell NFTs. It's easy, fast, and secure, making it one of the best platforms out there while offering competitive fees and discounts.
The wallet can store a large variety of cryptocurrencies, making it highly advantageous to have this platform in your digital portfolio.
If you're still unsure about signing up for an account, you should definitely look at our website's comparison tool to find the best crypto exchange for you..
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