Investing in cryptocurrency, decentralized finance (DeFi) and other initial coin offerings is fraught with risk and speculation, and the markets can be extremely volatile. Consult a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the author to invest in cryptocurrencies and the accuracy or timeliness of the information cannot be guaranteed.
- Extensive list of supported cryptocurrencies: Support for more than 150 currencies with spot trading, futures and advanced order types.
- Transparent and competitive fees with available discounts: Crypto.com offers a competitive trading fee of up to 0.40%, with discounts available.
- Supporting an ecosystem of cryptocurrency products: Crypto.com supports cryptocurrency trading, barter and barter. It also offers its own credit card, crypto wallet, and allows users to invest in NFTs.
- Higher fees unless you have and use a CRO: Crypto.com users who own a large amount of CRO can get discounts on their trading fees.
- Poor customer support: Customer complaints indicate slow and low quality customer support responses.
- Trading fee discounts can be confusing when navigating: Crypto.com’s trading fee discount levels can be complicated when navigating.
Crypto.com is a prominent cryptocurrency exchange with support for a range of crypto assets and blockchain related products. Users can buy, sell and trade a wide list of currencies and enjoy relatively low trading fees. In addition, the company offers a cryptocurrency credit card, a decentralized exchange, a stand-alone crypto wallet, and an NFT marketplace. It also allows users to share their cryptocurrency, or hold it in a Crypto.com wallet for a specified period, to earn up to 14.5% interest.
For those looking to buy and hold currencies like Bitcoin and Ethereum, Crypto.com can be a good option. The fee is limited to 0.40% and decreases with higher trading volume or large holding of CRO. Crypto.com currently supports 150 currencies and offers advanced order types, and you can also trade cryptocurrency futures on its platform.
Remember that the cryptocurrency market is volatile and these investments are considered high-risk, so invest only money that you can afford to lose.
Investing in cryptocurrency has a high risk. Assets are volatile and subject to significant price fluctuations due to government actions and news.
Crypto.com was founded in 2016 in Hong Kong. It currently offers more than 150 cryptocurrencies to more than 10 million customers around the world. Crypto.com serves users in 90 countries with a unique set of cryptocurrency related financial products.
The long list of currencies, low prices and additional features make Crypto.com suitable for both beginners and advanced cryptocurrency users. However, beginners may find the plethora of features intimidating.
Overall, Crypto.com is best for those who want to do more with their cryptocurrency than just buy and hold. It is a good platform for active traders and anyone interested in using crypto as an actual currency, not just an investment.
Cryptocurrencies available on Crypto.com
Crypto.com supports over 150 currencies for spot trading, with a subset supported for storage. While there are many supported currencies to list them all here, you can count on being able to buy and sell most of the most traded currencies. (View the full list of available assets.)
Popular assets available on the platform include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polkadot (DOT)
Crypto.com also offers its own currency, CRO. If you hold a large stake in CRO, the company rewards you with lower trading fees, higher interest rates, and higher credit card bonuses.
Crypto.com trading fees start at 0.40%. High-volume traders and those with a large CRO stake can qualify for fees as low as 0%.
The central hub of Crypto.com is its mobile app, which is available for Android and iOS devices. If you are familiar with trading stocks using the mobile app, you will likely find the experience quite intuitive and straightforward.
With the Crypto.com app, you can quickly view your portfolio and a list of popular assets. The mobile app includes everything you need to trade currencies, earn by hoarding cryptocurrency, make payments with cryptocurrency, or sign up for a Crypto.com credit card.
Its charting tools are relatively simple and don’t give you a lot of data. However, each coin’s page includes a brief overview and links to more detailed information so you can learn how the blockchain and coin work before you buy.
Crypto.com also supports many fiat currencies, including the Australian dollar (AUD), the Canadian dollar (CAD), the euro (EUR), the British pound (GBP), the US dollar (USD), and the Brazilian real (BRL). This flexibility allows users in many countries to easily buy cryptocurrencies in their local currency.
New Crypto.com users without any bets will pay CRO 0.4% on trades with a total monthly trading volume of less than $25,000. The trading fee is a bit lower than what you might see with some of the big competitors in the industry, but it’s not the lowest.
High-volume traders can qualify for fees as low as 0.04% as a Maker or 0.1% as a beneficiary without a CRO hostage. Reduced trading fees are available when you have at least 5,000 CRO in your wallet – 5,000 CRO was equal to about $1,280 at the time of writing. At this point, traders with a monthly volume of $25,000 pay 0.36%. Rates go down with a larger share.
There are no additional fees per trade, so Crypto.com is competitive when it comes to pricing.
Crypto.com uses various security measures, including two-factor authentication (2FA) and whitelisting, to help keep customer accounts secure. Of course, it is also important to use a strong password and personal online security practices to help protect your account. Cryptocurrency transactions cannot be reversed, so it is unlikely that you will recover any lost cryptocurrency if your account is hacked.
In addition to security measures, Crypto.com uses robust compliance monitoring and stores customer deposits offline in cold storage to help prevent hacks and losses. It also works with local banks in the United States to provide $250,000 in FDIC insurance on US dollar balances.
Opening a Crypto.com Account
To create a Crypto.com account, download the Crypto.com app from the Google Play Store or Apple Store. Open the app and start by entering your email and choosing a password. New Crypto.com accounts are verified using your name, photo ID, and profile picture. Next, you’ll need to associate a payment method, such as a bank account.
If you link a US bank account, you will be asked to enter your Know Your Customer (KYC) details to verify your identity, including your name, contact information, and Social Security number. Fully verified users can deposit funds and make withdrawals up to daily and monthly Crypto.com limits.
The process of setting up a new account, including KYC verification, generally takes less than ten minutes. If you’re quick to type and have an ID on hand, you can probably do this in five minutes or less.
Crypto.com customer support is available via the help page, email, and live chat. There is no phone support for Crypto.com customers. While customer service is available by email and chat, many users report slow responses and a lack of help with account issues.
Crypto.com gets generally modest customer reviews and is only rated 2.3 out of 5 stars on Trustpilot. Most of the negative reviews focus on poor customer service experiences, locked accounts, and withdrawal issues. Others mention hacked accounts and lost funds, which is concerning.
Bad customer service is fairly common among cryptocurrency exchanges, and Crypto.com is no different. It is generally a good idea to consider Crypto.com as a self-service site, as customer support is not necessarily helpful. It is probably best for those who are comfortable with online financial products and will not need much help.
Users can easily view their Crypto.com accounts and assets in the mobile application. You can choose to display your assets in a list or pie chart, depending on your preference.
Through the app, you can also manage your bank accounts, review transfers, make crypto deals, and keep track of your Crypto.com credit card balance.
How does Crypto.com compare to other cryptocurrency companies
Crypto.com and Coinbase are both popular exchanges in the US. Compared to Coinbase, Crypto.com offers a more comprehensive list of tradable assets and lower trading fees. However, its platform is not as easy to navigate as Coinbase, and the trading experience is not beginner friendly. But depending on your needs, Crypto.com might be a better option.
Here is a breakdown of the important differences between Crypto.com vs. Coinbase:
Crypto.com vs Coinbase
- Crypto.com charges up to 0.40% on trades, while Coinbase Pro charges 0.50%.
- Crypto.com supports more than 150 virtual currencies, while Coinbase supports only 124.
- Coinbase offers a user friendly and easy to use platform which may be easier for beginners to navigate than Crypto.com.
Crypto.com and Coinbase can work well for different business and investment goals. Depending on your needs and your trading experience, you can choose to open an account for both.
Crypto.com is a good choice for cryptocurrency traders who are looking for a platform with relatively low fees and a wide list of supported currencies. It is best for people who feel confident managing a financial account through a mobile app and may be ideal for those with intermediate knowledge and experience with cryptocurrencies.
Like other cryptocurrency exchanges, the customer service is not a strong fit for Crypto.com, so plan to try primarily self-service. If you are comfortable with that, Crypto.com may be a suitable option for your needs.
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