Skip to content
Swen Keller
- Home
- /
- Cryptocurrency Exchanges
- /
- Crypto.com Review 2024: Is...
Crypto.com Review 2024: Is It Really The Best?
Swen Keller
- URL: https://crypto.com/
- Headquarter: Singapore
- Year Founded: 2016
- Platform App: Desktop, Mobile, Web
- No. of Cryptos: 250+
- Fiats Available: AUD, EUR, CAD, GBP, USD, ARS, BRL, SGD
- Withdraw Method: Bank transfer, Crypto assets
- Payment Method: Bank account transfer, credit or debit card, Google Pay, Apple Pay
Crypto.com Review: Our Opinion
Crypto.com is a popular cryptocurrency exchange that supports a wide range of products such as an NFT marketplace, staking, crypto Visa debit cards, crypto wallet, and more.
The cryptocurrency exchange also offers a large selection of digital assets and discounted trading fees for CRO holders.
Its massive set of products makes the crypto platform a good choice for advanced cryptocurrency enthusiasts and traders who want to do more with their cryptocurrencies.
An Overview of Crypto.com
Crypto.com is one of the largest crypto exchanges in the world and it was founded in 2016 with its headquarters in Singapore. The crypto platform currently supports over 50 million customers and a workforce of 4,000 employees.
Crypto.com was initially founded in Hong Kong by Gary Or, Bobby Bao, Rafael Melo, and Kris Marszalek as the Monaco crypto platform. However, it changed its name to Crypto.com in 2018.
Crypto.com offers a large suite of products and services which include over 250 digital assets via its cryptocurrency exchange and the Crypto.com app, a DeFi wallet, a regular crypto wallet, and an NFT marketplace.
The platform, like most large crypto exchanges, also offers a debit card (Visa card) that allows customers to use cryptocurrencies in day-to-day transactions.
Crypto.com’s ecosystem is powered by CRO, its native token, which holders can stake for rewards and low trading fees.
In the realm of crypto trading, Crypto.com provides a robust array of cutting-edge trading instruments and offerings. These encompass margin trading, options, crypto derivatives, futures contracts, and perpetual markets.
Pros
- Merchants can receive payments in crypto using Crypto.com Pay
- Supports a large selection of cryptocurrencies
- Users can earn interest on their crypto savings
- Has its native cryptocurrency
Cons
- The platform is not user friendly
- It does not offer educational resources
- High credit and debit card fees
- Large investment in CRO needed for lowest fees and best debit card perks
Crypto.com Review: Unique Features
Crypto.com Pay
Crypto.com Pay is a payment solution that allows businesses to accept payments in cryptocurrencies and receive instant payments in their business account in crypto or fiat currencies.
Crypto.com Pay supports over 20 cryptocurrencies. The fiat amount credited into the merchant’s account is prefixed, this eliminates the inconsistencies that may occur as a result of price fluctuations in the crypto market.
Customers who make CRO payments via Crypto.com Pay can enjoy up to 10% cash back on all eligible purchases. The rebates are paid in CRO tokens.
Other benefits Crypto.com Pay offers merchants include no chargebacks, easy integration, and competitive rates.
Merchants can save as much as 80% on fees when they receive payments in their preferred cryptocurrency via Crypto.com Pay.
No technical knowledge is required to use Crypto.com Pay, and no integration is required. Merchants can simply send an invoice with just a few clicks and all payments are instantly settled with zero gas fees. Merchants can also view their balances and transaction history as well as receive their payment data on the self-service merchant portal.
Asides from paying for goods and services, Crypto.com Pay can also be used to buy NFT collectibles, shop for gift cards, top-up mobile airtime and send crypto gifts to friends.
DeFi Wallet
The DeFi Wallet is a non-custodial wallet that gives Crypto.com users full control and secure custody of their cryptocurrencies.
The wallet allows users to send cryptocurrencies to any recipient around the world at the sender’s preferred network fee and confirmation speed.
Since the DeFi Wallet is a decentralized exchange crypto wallet, users have full control of their private keys and the crypto assets stored in the wallet.
A Crypto.com account is not required to store, receive and send crypto in the Crypto.com DeFi Wallet.
All transactions in the DeFi wallet are processed on-chain, this means that the confirmation of transactions in the corresponding cryptocurrency’s blockchain network attracts network fees.
The network fees charged vary based on the network traffic of the blockchain.
Users can swap, farm, mine, and interact with different DeFi protocols from within the DeFi Wallet App.
They can also swap over 1,000 tokens across over 30 different blockchains including, Cronos, Ethereum, Cosmos, etc.
The DeFi Wallet has an in-app bridging feature that allows users to migrate cryptocurrencies between Cronos and different blockchains.
The Crypto.com DeFi Wallet also has a wallet extension that allows users to easily connect the DeFi Wallet App to a desktop browser. This gives the user access to advanced features like governance.
Asides from sending, receiving, and storing cryptocurrencies, the Crypto.com DeFi wallet also supports the deposit of NFTs in multiple formats across different blockchains. Users can also earn rebates in over 25 tokens and stablecoins.
Crypto.com Visa Card
The Crypto.com card is a prepaid Visa card that allows cardholders to pay for goods and services with crypto.
Since it is a prepaid card, the crypto.com card needs to be topped up with crypto deposits before use. The card can be topped up using other credit/debit cards, bank account transfers, or crypto savings.
To apply for the card, you need to stake CRO tokens for at least 180 days. The amount of CRO staked determines the card tier you get.
To apply for the card, create a Crypto.com account and complete your account verification, then buy your CRO tokens.
Next, go to the “Card” tab in the app and select your preferred Crypto.com Visa Card.
Tap on the “Stake CRO” button and follow the onscreen prompts to finish the staking process. After this, you will be notified when your card has been shipped.
There are 5 tiers of the Crypto.com Visa debit card:
Obsidian
This is the top-tier and most premium Crypto.com card. It is available to users who have staked a minimum of $400,000.
It offers fee-free ATM withdrawals for up to $1,000 per month.
Users also earn up to 5% CRO rewards on active stakes and 2% (non-stake) in card spending. Other benefits include monthly reimbursement on subscription services from Netflix, Amazon Prime, and Spotify.
Frosted Rose Gold And Icy White
This is the second-highest card tier. It is available to stalkers who stake as high as $40,000. Users get to choose if they want the card in Icy White or Frosted Rose Gold.
Benefits associated with this card tier include Free ATM withdrawals up to $1,000, reimbursement on subscription services from Amazon Prime, Spotify, and Netflix, and 1%(no stake) and 3% (active stake) CRO rewards on card spending.
Royal Indigo and Jade Green
Just like the previous tier, this third tier comes in 2 options Jade Green or Royal Indigo. The staking requirement for cards in this tier is $4,000.
Users enjoy a monthly reimbursement on the 3 supported subscription services for the first 6 months as well as monthly CRO card rewards capped at $50.
They also earn 2% (active stake) And 0% (no stake) CRO rewards on card spending. Unlike the higher tiers. The fee-free ATM withdrawal limit is $800 per month.
Ruby Steel
The staking requirement for this card tier is $400. The fee-free ATM withdrawal limit is $500 per month.
Associated benefits include up to $25 a month in CRO rewards, reimbursement on Spotify subscriptions for the first six months, and 1% (active stake) and 0% (no stake) on card spending.
Midnight Blue
This is the lowest tier of the Crypto.com Visa card. There is no staking requirement for this card tier.
Unlike the higher-tiered cards that are made of metal, the Morning Blue Visa card is made of plastic. The monthly fee-free ATM allowance is capped at $200. Cardholders also earn cashback for this tier.
All purchase rebates are reimbursed to the USD equivalents while card rewards are paid into the user’s crypto wallet in CRO. The rebate cap is reset on the first day of every month.
The exact exchange rate used for card purchases is dependent on the user’s jurisdiction and the card tier. The fees also vary by card tier.
Cryptocurrencies Available on Crypto.com
The Crypto.com cryptocurrency exchange supports over 250 cryptocurrencies. Supported cryptocurrencies include Bitcoin, Ethereum, Litecoin, Chainlink, Solana, Polygon, Polkadot, Shiba Inu, Ethereum Classic, Avalanche, Bitcoin Cash, Binance Coin, Cardano, USD Coin, XRP, etc.
Can You Buy and Sell NFTs on Crypto.com?
Yes, you can buy and sell NFTs on Crypto.com via its NFT marketplace. The marketplace also allows users to participate in NFT drops.
Crypto.com NFT is the only marketplace on the Crypto.org chain and it supports more than 10 million NFTs and has some of the most popular NFTs in its roster including ArtBlock, Bored Ape Yacht Club, Mutant Ape Yacht Club, CloneX, etc.
Crypto.com NFT offers several types of NFTs such as Celebrities, Gaming, sports, and art. For fees, the marketplace puts a fixed 1.99% in transaction fees for all buys and sells.
It also supports users using their debit card to buy NFTs directly which most crypto exchanges offering an NFT marketplace do not.
Crypto.com Review: Fees
Deposit Fees
USDC asset deposits
Crypto.com does not charge deposit fees for USDC transactions. However, this deposit method requires a minimum of $100 in payment.
Debit Card or Credit Card
The crypto exchange charges up to 4% for credit card or debit card purchases.
Transferring Cryptocurrencies to Other Crypto.com App Users
Crypto.com does not charge transaction fees for this action.
Visa Debit Card Top Up
The deposit fees for topping up your Crypto.com Visa card are dependent on the Country you reside in and how you intend to top up. That said, if you stay in the United Kingdom or Europe you’ll be charged 1% in fees for the transaction.
For residents in the United States, the top-up is free of charge except if you use your credit card, which will incur a 2.99% fee.
Cryptocurrency Deposits
You don’t have to pay deposit fees on digital assets.
Withdrawal Fees
Cryptocurrency Withdrawal Fees
This type of withdrawal attracts dynamic fees which depend on the cryptocurrency being withdrawn.
Fiat Currencies
Withdrawing fiat currencies from Crypto.com incur a $25 charge.
Card Inactivity
Crypto.com charges users a monthly inactivity fee for their Visa cards that have not been used for over 12 months. The fee charged depends on your country.
Trading Fees
Crypto.com charges users via maker fees and taker fees for using its crypto trading services.
However, the fees charged are dependent on the 30-day trade volume of the customer and the amount of CRO tokens they stake.
The more CRO tokens a user stakes, the lower fees they’ll have to pay per transaction. So low fees can be achieved by staking more CRO tokens.
Here are the various trade volume levels and their respective maker fees and taker fees.
$0 – $250,000
- Maker: 0.40%
- Taker: 0.40%
$25,001 – $50,000
- Maker: 0.35%
- Taker: 0.35%
$50,001 – $100,000
- Maker: 0.15%
- Taker: 0.25%
$100,001 – $250,000
- Maker: 0.1%
- Taker: 0.16%
$250,001 – $1,000,000
- Maker: 0.09%
- Taker: 0.15%
$1,000,001 – $20,000,000
- Maker: 0.08%
- Taker: 0.14%
$20,000,001 – $100,000,000
- Maker: 0.07%
- Taker: 0.13%
$100,000,001 – $200,000,000
- Maker: 0.06%
- Taker’ 0.12%
$200,000,001 and above
- Maker: 0.04%
- Taker: 0.10%
CRO Stake Discounts for Low Fees
- ≥ 5,000 CRO staked: 10% off
- ≥ 10,000 CRO staked: 20% off
- ≥ 50,000 CRO staked: 40% off
- ≥ 100,000 CRO staked: 60% off
- ≥ 500,000 CRO staked: 70% off
- ≥ 1,000,000 CRO staked: 80% off
- ≥ 5,000,000 CRO staked: 90% off
- ≥ 50,000,000 CRO staked: 100% off
To understand Crypto.com’s trading fee system, you need to know that the platform intends to maintain its high trading volumes, high CRO intake, and high liquidity. So to achieve these 3 goals the platform charges low fees based on the following factors:
- If you’re a market maker or taker (market makers add liquidity to the platform)
- Your 30-day trade volume
- The amount of CRO tokens you have staked
Crypto.com Review: Payment Methods
Crypto.com, like most large crypto exchanges, supports 3 common deposit options: credit card or debit card (Apple Pay and Google Pay incl inclusive), bank transfer, and cryptocurrency deposits.
The bank transfer method differs per country. For example, customers in the United States will use ACH Transfer while Singaporean users will use FAST deposits. Australians can use PayID or BPAY.
Crypto.com Review: Security
The Crypto.com cryptocurrency platform is the first crypto exchange in the world to have ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013, and PCI-DSS v3.2.1 Level 1 compliance.
It is also the first to have been independently assessed as Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as Service Organization Control (SOC) 2 compliance.
It stores users’ fiat currencies in regulated custodian bank accounts and 100% of users’ cryptocurrency assets are fully backed 1:1.
This means that the funds are backed by Crypto.com and accessible to customers at their convenience. Crypto.com has a Proof of Reserves verification page where customers can verify the exchange’s reserves and funds.
It stores users’ assets in hot and cold storage wallets. Crypto.com has strict controls on access rights to the funds held in both the hot and cold storage wallets.
Crypto.com secures transactions with multi-factor authentication. This includes Authenticator verification, phone, password, biometrics, and emails.
Users can also whitelist external wallet addresses. Email verification is mandatory for external address whitelisting.
Crypto.com Review: Staking Rewards
Crypto.com doesn’t just allow you to buy and sell crypto, you can also earn interest on held cryptocurrencies and stablecoins.
The platform allows you to earn interest on over 40 assets for staking and offers up to 12% p.a. (per annum) on held currencies.
However, like most rewards in the Crypto.com ecosystem, you need to hold a ton of fiat currency in CRO to reap good rewards.
The interest rate you receive is dependent on the amount of time you stake the particular asset, the specific cryptocurrency or stablecoin you stake, and the amount of CRO tokens you have staked on the platform.
So you can boost how you earn interest by staking over 4,000 CRO, depositing your assets and locking them in for 3 months, and staking stablecoins which are pegged to fiat currencies and tend to earn higher interest.
That said, staking your cryptocurrencies to earn interest is a risky investment as the assets are volatile and are not covered under insurance, so there’s the possibility of losing your entire savings in bad market conditions.
Crypto.com Review: Supported Countries
Crypto.com is available in over 100 countries. Supported countries include the United Kingdom, the United States, Spain, Italy, France, Germany, Portugal, Singapore, Canada, Australia, Netherlands, Finland, etc.
Crypto.com Review: Opening a Crypto.com Account
To open an account with the Crypto.com crypto exchange go to crypto.com/exchange and hit the Sign-Up button located at the upper right corner of the screen.
Stick to the on-screen instructions and enter the required information. They will request your first and last name, date of birth, email address, country of residence, etc.
Crypto.com states that this information is to ensure that you’re eligible to use the platform.
The crypto exchange will use your inputted email address to send you a verification link.
Next, tick that you agree to the terms and conditions then click Create Account.
Crypto.com will send an email to your email address that contains a one-time password (OTP). Go to your inbox and verify your registration.
Next, input the OTP in the relevant field on the Exchange platform.
Create a password for login and click Submit.
Lastly, you’ll need to verify your mobile number. Choose the area code of your nation by clicking the drop-down menu and entering your phone number without the code.
You’ll receive an SMS containing a verification code. Enter the code received and select Submit.
That’s it! You’ve created an account with Crypto.com. However, to access all the features offered by the exchange you need to verify your identity.
Crypto.com Review: Trading Experience
The primary tool for trading cryptocurrency via the Crypto.com exchange is its mobile app. The Crypto.com app is available for Android and iOS devices.
It allows users to quickly view their crypto portfolio as well as a list of popular cryptocurrencies supported by the exchange.
On the mobile app you have all features that Crypto.com offers: earn interest via staking, make payments using your crypto holdings or register for the Crypto.com Visa card.
You can also carry out advanced trade types like margin trading, options, futures, crypto derivatives, etc. However, when it comes to charting tools on the app they’re quite basic and don’t offer much data.
Crypto.com Review: Customer Service
Crypto.com provides customer support primarily via online chat. Information on the Crypto.com website shows that the response time from the support team is less than 12 hours.
Crypto.com also has a well-equipped Help Center where users can check for answers to questions about the platform. Customers with inquiries can also contact the Crypto.com team via email at contact@crypto.com.
Crypto.com Review: Customer Satisfaction
While Crypto.com excels in various aspects like crypto availability and security, its customer service is poor.
Customers have complained about the limited support channels and slow response from the support team.
Does Crypto.com Offer Education?
Yes, Crypto.com has one of the largest education centers for crypto exchanges called the Crypto.com University.
The platform offers crypto and Blockchain technology knowledge for beginner, intermediate, and advanced traders. There are topics on NFTs, staking, blockchain, crypto slang, etc.
Is Crypto.com Right for You?
Crypto.com is right for advanced users who want to do more than buy and sell crypto. The platform offers a large suite of crypto products and services that can keep crypto enthusiasts busy.
Final Thoughts
Crypto.com is an excellent choice for professional traders as it offers more than just crypto transactions. However, for beginners, it will appear as a confusing exchange with so many options and products. Newbie traders may benefit more from an exchange like Coinbase.
Our extensive analysis of the Crypto Exchanges doesn’t stop here. You can also read about our Gate.io review as an alternative to Crypto.com.
FAQ
Most frequent questions and answers
How much CRO will be worth in 10 years depends on how many people hold it and use it as well as the success of the Crypto.com ecosystem as a whole.
No, but they charge a monthly inactivity fee if you don’t use your Crypto.com Visa debit card in 12 months.
If you want to trade cryptocurrencies Crypto.com is better as it offers more cryptocurrencies and crypto products.
We always try to provide the most accurate information available, and make sure our team follow through.
If you want to know more about our Crypto Exchanges Review Methodology follow the link below
Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.
To view our privacy policy read here.
