Crypto.com is a comprehensive cryptocurrency exchange that enables users to buy, sell, and trade more than 350 digital assets, including major cryptocurrencies like Bitcoin and Ethereum. Beyond trading, the platform offers staking, rewards programs, and a Visa card for everyday purchases. With a user-friendly interface and robust security measures, it serves over 100 million users globally and supports more than 100 countries.
In this review, we explore its features, fee structure, security protocols, and overall legitimacy to help you determine if it’s the right platform for your crypto needs.
What Is Crypto.com?
Crypto.com is a Singapore-based cryptocurrency exchange founded in 2016 by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. Operating under the legal entity Foris DAX Asia Pte. Ltd., the platform provides access to over 350 cryptocurrencies and supports fiat transactions, staking, and decentralized finance (DeFi) services.
The ecosystem includes a mobile app, an NFT marketplace, a non-custodial DeFi wallet, and a prepaid Visa card that offers cashback rewards. The platform emphasizes security through measures like cold storage, two-factor authentication (2FA), and regulatory compliance, including FDIC insurance for U.S. dollar balances up to $250,000.
| Detail | Description |
|---|---|
| Launched | 2016 |
| Headquarters | Singapore |
| Supported Assets | 350+ cryptocurrencies |
| Global Support | 100+ countries |
| Trading Fees | Tier-based, starting at 0.25% (maker) and 0.50% (taker) |
| Key Features | Visa Card, DeFi Wallet, NFT Marketplace, Staking, Trading Bots |
Ownership and Background
Crypto.com is a privately held company. Its ownership structure is not publicly disclosed, but it was established by its four co-founders and has expanded through partnerships with organizations like Shopify and major sports franchises, including the naming rights for the Crypto.com Arena in Los Angeles.
Pros and Cons of Using Crypto.com
Advantages
- Broad Cryptocurrency Selection: Access to more than 350 cryptocurrencies allows for diverse portfolio options.
- Intuitive Mobile App: The app is designed for ease of use, catering to beginners and experienced traders alike.
- Strong Security Framework: Implements cold storage, 2FA, FDIC insurance for fiat, and regular third-party audits.
- Additional Utilities: Offers a Visa card, staking rewards, and an integrated NFT marketplace.
- Responsive Support: Provides live chat and email customer service, complemented by a detailed help center.
Disadvantages
- Above-Average Trading Fees: Standard trading fees are higher than those of key competitors like Binance or Bybit.
- Regional Limitations: Some services, such as the Visa card and leveraged trading, are unavailable in certain countries.
- U.S. Restrictions: The exchange platform is not accessible to U.S. residents, although the app is available in most states.
Supported Countries and Services
Crypto.com operates in over 100 countries, including the United States (except New York), Canada, the United Kingdom, Australia, and many European and Asian nations. However, restrictions apply in countries like Afghanistan, Algeria, and Belarus due to local regulations.
The availability of specific features, such as the Visa card or advanced trading options, varies by region. For example, the card is currently available in the U.S. and Singapore, with plans to expand to the EU, Canada, and other markets.
U.S. Accessibility
Crypto.com’s app is available in 49 U.S. states and territories. New York is excluded due to the state’s stringent BitLicense requirement, which the platform has not yet obtained. U.S. users can buy, sell, and hold cryptocurrencies on the app but cannot access the exchange directly.
Key Features of Crypto.com
DeFi Wallet
The non-custodial DeFi wallet allows users to securely manage their cryptocurrencies and interact with DeFi protocols. It supports over 1,000 tokens across blockchains like Ethereum and Cronos and offers features such as token swaps, staking, and cross-chain bridging.
NFT Marketplace
A dedicated platform for buying, selling, and trading non-fungible tokens (NFTs). It features digital art, music, and collectibles from global creators and supports transactions using various cryptocurrencies.
Mobile Application
The Crypto.com app provides a streamlined experience for managing crypto portfolios. Users can set up recurring buys, price alerts, and automated trades. The interface is designed for clarity and functionality.
Automated Trading Bots
The platform offers trading bots that execute strategies like dollar-cost averaging (DCA), grid trading, and arbitrage. These tools help users automate their trading and capitalize on market fluctuations.
Fee Structure
Crypto.com employs a multi-tier fee system based on trading volume and staking levels of its native token, CRO. Fees are competitive but can be higher than those of some rivals for basic users.
Trading Fees
Spot trading fees start at 0.25% for makers and 0.50% for takers. These rates decrease with higher trading volumes or when users stake CRO. Futures trading fees begin at 0.02% for makers and 0.04% for takers.
Deposit and Withdrawal Fees
- Crypto Deposits: Free, but network fees may apply for withdrawals.
- Fiat Deposits: Free via ACH or SEPA; wire transfers may incur banking fees.
- Minimum Withdrawals: Vary by asset—for example, 0.002 BTC for Bitcoin and 0.01 ETH for Ethereum.
Other Charges
- Margin Trading: 0.02% per transaction, plus borrowing interest.
- Visa Card: No annual fee, but ATM withdrawals beyond the monthly limit incur a 2% charge, and card top-ups via credit/debit cards cost 1%.
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Security Measures
Crypto.com prioritizes security through a combination of technical and regulatory safeguards:
- Cold Storage: The majority of user funds are stored in offline wallets.
- Two-Factor Authentication (2FA): Mandatory for account access.
- Anti-Phishing Codes: Helps verify authentic communications from the platform.
- Insurance Protection: U.S. dollar balances are FDIC-insured up to $250,000.
- Certifications: Complies with ISO/IEC 27001:2022 and PCI DSS standards.
- Bug Bounty Program: Offers rewards for identifying vulnerabilities.
Regulatory Status
Crypto.com has received a Wells notice from the U.S. SEC regarding potential securities law violations. The company is challenging this and continues to operate normally while the situation develops.
How to Use Crypto.com
Account Creation and Verification
- Sign Up: Download the app and register with an email and strong password.
- Verify Identity: Complete KYC by submitting a government-issued ID and a selfie.
- Deposit Funds: Add fiat via bank transfer or card, or transfer crypto from an external wallet.
Buying and Trading Cryptocurrency
Once your account is funded, navigate to the “Trade” section to buy, sell, or convert cryptocurrencies. You can use market orders, limit orders, or automated bots.
Withdrawing Funds
To withdraw, go to “Wallets,” select “Withdraw,” and choose between fiat or crypto. For fiat, ensure your bank account is linked. For crypto, enter the recipient wallet address.
Closing Your Account
To close your account, ensure all balances are zero, and there are no active stakes or open positions. Then, contact support or use the account closure option in settings.
Frequently Asked Questions
Is Crypto.com safe for beginners?
Yes, its intuitive app and educational resources make it suitable for newcomers. Security features like insurance and 2FA provide additional safety.
What cryptocurrencies can I trade on Crypto.com?
The platform supports over 350 cryptocurrencies, including Bitcoin, Ethereum, Solana, and many emerging altcoins.
Are there any hidden fees?
Crypto.com discloses all fees transparently. However, users should review withdrawal minimums and network charges, which are common across exchanges.
Can I use Crypto.com in Europe?
Yes, most services are available in European countries, though specific features like the Visa card may vary by location.
How do I reduce trading fees on Crypto.com?
Staking CRO tokens can significantly lower trading fees. Higher trading volumes also qualify for discounted rates.
What should I do if I encounter an issue?
Use the in-app live chat or email support for assistance. The help center also contains guides and troubleshooting tips.
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Final Thoughts
Crypto.com offers a well-rounded ecosystem for cryptocurrency enthusiasts, combining trading, DeFi, and spending capabilities. While its fees may be higher than some competitors, its security, range of features, and user-friendly design make it a strong choice for both new and experienced users. Always conduct your own research and consider your regional accessibility before committing.