Crypto.com
Why choose Crypto.com?
Crypto.com, established in 2016, has emerged as a comprehensive cryptocurrency platform offering a wide array of services tailored for both novice and experienced investors.
Crypto.com distinguishes itself through its extensive selection of over 350 supported cryptocurrencies, catering to diverse investment preferences. The platform offers competitive fees, with discounts available for users who stake its native token, Cronos (CRO). Additionally, Crypto.com provides a holistic ecosystem encompassing crypto trading, staking, a non-custodial DeFi wallet, an NFT marketplace, and a Visa card that enables users to spend their crypto holdings seamlessly.
General
Highlights| Headquarters | Singapore |
| Type of Broker | Cryptocurrency exchange and financial services platform |
| Most suitable for | Users interested in a comprehensive crypto ecosystem, including trading, staking, and payment solutions. |
| Website | crypto.com |
Pros
- Extensive list of supported cryptocurrencies.
- Competitive fees with discounts for CRO staking.
- Comprehensive ecosystem including DeFi wallet, NFT marketplace, and Visa card integration.
Cons
- Higher fees for users not staking CRO.
- Customer support has received criticism for slow response times.
- Complex fee discount structures may be challenging for some users.
Fees of Crypto.com
Crypto.com employs a maker/taker fee model, with standard fees starting at 0.075% per trade. Users who stake CRO tokens can benefit from reduced fees, with the potential to lower trading costs to 0% for makers and 0.05% for takers, depending on the amount staked and trading volume. It's important to note that transactions using credit or debit cards may incur fees up to 2.99%.
| Spot maker | 0.25% |
| Spot taker | 0.5% |
| Derivatives maker | |
| Derivatives taker |
Pros
- Transparent and competitive fee structure.
- Significant fee reductions available through CRO staking.
Cons
- Credit/debit card transactions can incur higher fees.
- Fee discounts require substantial CRO holdings, which may not be feasible for all users.
Tradable Products of Crypto.com
With support for over 350 cryptocurrencies, Crypto.com offers one of the most extensive selections in the industry. Beyond spot trading, the platform provides services such as crypto derivatives, allowing users to engage in futures trading with leverage. Additionally, Crypto.com features an NFT marketplace, enabling users to create, collect, and trade unique digital assets.
| Crypto assets | 350+ |
| Spot | |
| Derivatives | |
| Futures | |
| Options | |
| Staking |
Pros
- Wide range of cryptocurrencies supports diverse investment strategies.
- Access to crypto derivatives and leveraged trading options.
- Integrated NFT marketplace for digital asset enthusiasts.
Cons
- Some advanced trading features may not be available to U.S. users due to regulatory restrictions.
- The vast array of products may be overwhelming for beginners.
Deposit and Withdrawal of Crypto.com
Crypto.com supports multiple deposit methods, including bank transfers and credit/debit card transactions. While deposits via bank transfer are generally free, credit/debit card deposits can incur fees up to 2.99%. Withdrawal fees vary depending on the specific cryptocurrency and network conditions. It's advisable for users to review the fee schedule on the platform for detailed information.
| Deposit SEPA | free |
| Withdrawal | €1 |
Pros
- Multiple deposit options provide flexibility for users.
- Bank transfers typically free of charge.
Cons
- Credit/debit card deposits may incur higher fees.
- Withdrawal fees vary and can be significant for certain cryptocurrencies.
Safety of Crypto.com
Crypto.com prioritizes security by implementing measures such as multi-factor authentication (MFA), whitelisting, and storing the majority of user funds in cold storage to protect against hacks. In January 2022, the platform experienced a security breach resulting in unauthorized withdrawals totaling $35 million. Affected users were fully reimbursed, and Crypto.com subsequently enhanced its security protocols and introduced the Account Protection Program (APP) to bolster user fund security.
| Founded in | Hong Kong |
| Foundation date | 2016 |
| Insurance digital assets | |
| Cold storage | |
| 2FA |
Pros
- Robust security measures, including cold storage and MFA.
- Proactive response to security incidents with full reimbursement to affected users.
Cons
- Past security breach may raise concerns for potential users.
- Some users have reported slow customer support response times.
Platform and Experience of Crypto.com
Crypto.com offers a user-friendly mobile app available for both iOS and Android devices, serving as the primary interface for U.S. users. The app provides a comprehensive suite of features, including trading, staking, and access to the Crypto.com Visa card. However, some users have reported that the platform's extensive range of features can be overwhelming, particularly for those new to cryptocurrency trading.
| Mobile app | |
| Web3 | |
| Beginner | |
| Advanced | |
| 24/7 support |
Pros
- Intuitive mobile app with a wide range of functionalities.
- Seamless integration with Crypto.com's ecosystem, including the Visa card and DeFi wallet.
Cons
- The plethora of features may be overwhelming for beginners.
- Limited desktop trading options for U.S. users.
Conclusion
Crypto.com presents a comprehensive platform for cryptocurrency enthusiasts, offering a vast selection of digital assets, competitive fees, and an integrated ecosystem that includes staking, NFTs, and a Visa card. While the platform has faced challenges, such as a past security breach and critiques regarding customer support, its proactive measures and extensive features make it a compelling choice for those looking to engage deeply with the crypto space.
- Comprehensive ecosystem: trading, Visa card, NFTs, DeFi wallet.
- High staking rewards, especially with CRO token.
- User-friendly mobile app, suitable for both beginners and experienced users.
- Strong security features and insurance on assets.