Crypto.com

Crypto.com Review

Crypto.com Highlights

What is Crypto.com exchange, and how can you take advantage of its various features and services? Well, Crypto.com is an all-inclusive cryptocurrency exchange that offers a plethora of services, including trading, investing, staking, wallets, NFTs, and more. With over 250 different currencies supported and reasonable fees, Crypto.com is a great option for those looking to get the most out of their cryptocurrency investments. Let’s see what more to expect.

What Is Crypto.com?

Crypto.com is a renowned cryptocurrency platform trusted by over 80 million users worldwide. It is a leader in regulatory compliance and security certifications and boasts the industry’s most comprehensive insurance coverage and verified proof of reserves.

With the Crypto.com app, users can safely buy, sell, store, send, and track more than 250 digital coins with 20 fiat currencies using their credit or debit cards. Additionally, the Crypto.com Visa card provides up to 5% return on all spending with no annual fees, and Crypto Earn allows users to get the most out of their assets by choosing from 21+ cryptocurrencies and stablecoins.

Moreover, the platform provides discounts to those who hold a significant amount in Crypto.com coin, CRO, which is an additional incentive. With its diverse ecosystem of crypto-related products, Crypto.com is a solid choice for anyone seeking a one-stop shop for all things crypto.

How to Open an Account at Crypto.com

1. Go to the crypto.com/exchange website and click the Sign Up button located in the upper right-hand corner.
2. Provide all the necessary information on the screen, including your email address, date of birth, and country of residence. It’s important to note that users must be at least 18 years old.
3. Click on Continue and wait for an email verification containing a one-time password (OTP) to be sent to your registered email. Check your inbox and enter the OTP on the Crypto.com site.
4. Create a password for your account and submit it.
5. Verify your phone number by selecting your country’s area code, entering your phone number (without the area code), and entering the SMS verification code that you received.
6. You’re done! You will be redirected to the Exchange landing page. To access the full range of features available on the platform, you’ll need to verify your identity in the Account Verification section.

Is Crypto.com Safe?

“Security first. Always.” That’s Crypto.com’s philosophy when it comes to user safety and data privacy. As a leading cryptocurrency platform, Crypto.com believes that achieving mainstream cryptocurrency adoption begins with building trust through strong security measures.

To ensure its commitment to security, Crypto.com holds several licenses, registrations, and security certifications. It drives a zero-trust security strategy across its systems and platforms and conducts regular data privacy assessments to safeguard user information.

It also invests heavily in ongoing security and privacy awareness training for all staff to strengthen its security posture.

When it comes to deposit and transaction deposits, Crypto.com keeps users’ funds safe and accessible at their convenience. Fiat currencies are held in regulated custodian bank accounts, and if you’re a US resident, your USD balances are sent to and held by Community Financial Services Bank, an FDIC member, and an insured depository institution. The company adheres to the principle of least privilege and has strict controls on access rights to funds in both cold and hot wallets.

While writing this Crypto.com review, we have also confirmed that the exchange holds 100% of user cryptocurrency assets safely and fully backed on a 1:1 basis in institutional-grade reserve accounts, and users can verify their reserves and funds through their Proof of Reserves verification page, which is handled by an independent third party.

The Crypto.com App follows best-in-class security features, with security baked into its coding lifecycle. Transactions are protected by multi-factor authentication (MFA), which includes password, biometric, email, phone, and authenticator verification. It ensures withdrawal protection by mandating whitelisting external addresses through email verification. Additionally, it provides 24/7 live customer support to help users make the most of their Crypto.com experience.

Lastly, Crypto.com recognizes the importance of security researchers in keeping its community safe and encourages responsible disclosure of security vulnerabilities via its external bug bounty program on the leading platform, Hacker One.

What Are Crypto.com Features?

Crypto.com is a comprehensive cryptocurrency platform that provides traders with a wide range of features and services. It offers a dedicated mobile app, a secure DeFi wallet, and multiple crypto cards with various benefits. Now, let’s see how these can help improve your trading experience.

Crypto.com Mobile App

What is the Crypto.com app? Well, it’s the only place where users can buy and sell cryptocurrency at a true cost. With support for over 250 cryptocurrencies and 20+ fiat currencies, the Crypto.com app offers a convenient way for traders to manage their cryptocurrency portfolio.

In addition to buying and selling cryptocurrencies, the Crypto.com app also offers UpDown options, a type of derivative trading that allows users to profit from market movements in either direction. With UpDown options, users can gain greater control over their risk and trade with lower costs.

The app also provides users with access to their Crypto.com Visa Card, allowing them to spend their cryptocurrency at millions of merchants worldwide. Users can easily manage and monitor their funds through the app, with 24/7 customer support available for any questions or concerns.

Crypto.com Card

Crypto.com offers a range of different cards that cater to the needs of different traders. Each card has its own benefits and rewards program, making it easy for traders to choose the one that best suits their needs. Here’s a breakdown of the different Crypto.com cards and their benefits:

To qualify for the higher-tier cards, users need to stake a certain amount of CRO for a specified period of time. Crypto.com staking requirements vary depending on the card, with higher staking amounts required for the premium cards.

In addition to the previously mentioned rewards, Crypto.com cards also provide various benefits, such as Spotify and Netflix subscriptions, airport lounge access, and exclusive merchandise welcome packs. The higher-tier cards also offer additional benefits, such as Crypto.com private membership and partnerships with private jet companies.

Crypto.com Wallet

The Crypto.com DeFi Wallet is a non-custodial wallet that provides traders with full control over their cryptocurrency holdings. With the support of over 100 cryptocurrencies across 30+ blockchains, the DeFi Wallet offers a comprehensive solution for managing your digital assets.

The DeFi Wallet allows traders to earn rebates on 25+ tokens, including popular options like CRO, VVS, TONIC, and ATOM, as well as stablecoins. With flexible terms and great returns, the DeFi Wallet offers a powerful tool for users looking to earn a yield on their cryptocurrency holdings.

The wallet also supports depositing NFTs across multiple formats and blockchains, allowing users to view and share their NFT collections on social media.

What Are Crypto.com Fees?

Crypto.com offers a competitive fee structure for its users, with trading fees ranging from 0% to 0.0750%, depending on the user’s trading volume.
Here’s a breakdown of the fee structure:

In addition to regular trading fees, Crypto.com offers VIP trading fees for users who trade high volumes of cryptocurrencies. Here’s a breakdown of the platform’s VIP trading fees for spot and margin trading.

In addition to trading fees, there are Crypto.com withdrawal fees, which vary depending on the cryptocurrency being withdrawn. For example, the withdrawal fee for Bitcoin is 0.0005 BTC, while the withdrawal fee for Litecoin is 0.001 LTC.

Crypto.com Customer Support - Which Customer Support Options Does Crypto.com Have?

Crypto.com offers a variety of customer service options to ensure users have a seamless experience.

One of the most convenient options is the in-app support chat. This feature is available 24/7 and allows users to easily connect with a customer support representative directly within the app. However, you should note that agents typically respond within a day, so it’s not a standard live chat feature where you get a reply right away.

Additionally, Crypto.com has a comprehensive Help Center on its website that provides users with answers to frequently asked questions, tutorials, and guides. And if users require further assistance, they can email the stuff directly at [email protected].

Crypto.com Reviews - What Do Customers Say About Crypto.com?

One way to gauge the quality of a platform is to look at customer reviews. So, what do customers say about Crypto.com?

On the Apple App Store and Google Play Store, the Crypto.com mobile app has high ratings, with an average of 4.5 stars out of 5 on the App Store and 4.6 stars out of 5 on the Play Store. Customers appreciate the app’s user-friendly interface and range of features, including the ability to buy and sell cryptocurrencies, use Visa cards, and earn interest on their holdings.

However, it’s important to remember that customer reviews are just one aspect to consider when evaluating a platform. While there may be some negative Crypto.com reviews, many customers are satisfied with the services provided by Crypto.com.

Final Thoughts: Is Crypto.com Worth It?

Crypto.com offers a comprehensive suite of services that cater to traders and investors of all levels. With its user-friendly mobile app, secure DeFi wallet, and multiple crypto cards, the platform provides a seamless experience for buying, selling, and managing cryptocurrencies.

In terms of security, Crypto.com has implemented robust measures to protect its customers’ funds and personal information. Additionally, Crypto.com’s trading fees are competitive, and its rewards and benefits programs offer attractive incentives for traders. So, why not give it a try and see if Crypto.com is the right choice for you?

FAQ

Is Crypto.com legit?

Crypto.com is a legitimate and trustworthy cryptocurrency platform with over 80 million users globally. Crypto.com headquarters are located in Hong Kong, and the exchange has been in operation since 2016. Crypto.com has taken measures to comply with regulatory standards, obtain security certifications, and provide extensive insurance coverage and verified proof of reserves.

How to withdraw money from Crypto.com?

1. Open the Crypto.com App and navigate to “Accounts;”
2. Open your crypto wallet;
3. Press the “Transfer” button;
4. Press “Withdrawal;”
5. Select “External wallet;”
6. Locate and select the whitelisted wallet address;
7. Provide your passcode or confirm using a biometric ID;
8. Enter the 2FA authentication code generated by your authenticator app (if using an Untrusted Device);
9. Enter the mobile verification code;
10. Enter the amount and press “Withdraw;”
11. Wait for the withdrawal to be processed.

Does Crypto.com report to the IRS?

Yes, Crypto.com reports certain cryptocurrency transactions to the IRS, as mandated by US tax laws. These include transactions that result in gains or losses, as well as those involving the purchase, sale, exchange, or use of cryptocurrencies. Crypto.com provides users with access to transaction history and tax reporting tools to help them comply with tax regulations. It is recommended that users consult a tax professional for guidance on reporting cryptocurrency transactions to the IRS.

Is there a monthly fee on Crypto.com?

No, there is no monthly fee to use Crypto.com. However, as previously mentioned in our Crypto.com review, the exchange charges fees for certain services, such as trading, withdrawal, and credit and debit card fees.