Crypto.com Review - An In-depth Examination of the Trade Ecosystem on Crypto.com

Read and explore the Crypto.com Review. Which is an in-depth examination of the trade and investment ecosystem on Crypto.com.

Crypto.com is a cryptocurrency exchange that provides a range of services, including trading, investing, staking, wallets, and NFTs.

For individuals who have a sizable investment in Crypto.com Coin, this exchange provides discounts, over 250 different currencies, and affordable costs (CRO).

Because of its ecosystem of cryptocurrency-related products, bitcoin may be a good option for people who want to do a lot with their money. But Crypto.com is still a good platform and we will review it in this article.

Warning!!

Only invest money you can afford to lose because the cryptocurrency market is speculative and these investments are regarded as high-risk.

Is Crypto.com Available in Nigeria

Yes, Crypto.com is available in Nigeria. Nigerians can trade cryptocurrencies on the Crypto.com app. Nigeria is not among the Crypto.com app geo-restriction zones.

Crypto.com Business Overview

Crypto.com is appropriate for both beginning and experienced cryptocurrency users because of the wide selection of currencies, affordable prices, and extra features. Beginners, however, can find the abundance of features intimidating.

In general, Crypto.com is the ideal option for anyone who wishes to use their cryptocurrencies for more than just buy and hold. It’s a terrific platform for active traders and for anyone who wants to use cryptocurrency for actual transactions rather than merely as an investment.

12 Pros and Cons of Crypto.com

The pros and cons of Crypto.com is seen below:

Pros	Cons
Crypto.com has no hidden fee and is regulated	Crypto.com has a few futures pairings and many perpetual pairs available.
Users can get referral rewards of up to US$1,000 equivalent in CRO on the Crypto.com Exchange. Plus gains to 50% of their trading fees.	Users also have limited choice via the derivatives product.
Their customer support is effective and works all the time	–
Crypto.com application is compatible with Android and iOS, unlike other crypto apps.	–
The Crypto.com application also supports deposit and withdrawal of fiat currencies	–
The registration and verification process is simple and fast. If you encounter issues, you may consult customer care.	–
Has different products which are spots and derivative products	–
Coin holders on the Crypto.com app can earn interest by staking their idle coins or soft staking cryptos.	–
Supports over 150 cryptocurrencies	–
Serves as a syndicate where you can list your coins on Crypto.com exchange	–
Serves also as a supercharger and liquidity mining platform, allowing customers to deposit their tokens ‌to mine the most popular Defi tokens.	–
Crypto.com application gives users access to additional features and other things to gain from.	–

Crypto.com Platform Attributes

The Crypto.com platforms attributes and gain includes:

Attributes	Gains or Cost
They have Crypto loans that come with collateral with initial Loan-to-Values/amount	It ranges between a minimum of 25% and 50%
The platform has a visa card	No annual fee but you can get up to 5% back on all your spending.
Users enjoy CRO staking	Users earn rebates and interest of up to 10% APR daily.
Enjoys many product offerings	Gains from trading on spot and derivatives platforms
Crypto.com platform offers leverage.	Up to 100x gains through the derivatives platform
Support users to deposit crypto and fiat currencies	–
They operate referral program	Up to 50%
Crypto.com places high concern and emphasis on security	Both MFA and 2FA
Has easy access to the customer team through the chat	Free on the chat
They made access to traditional trading and technical analysis features to users in order to manage risk.	–

About Crypto.com

Crypto.com was founded in Hong Kong in the year 2016. To date, it has over 10 million customers worldwide and provides over 250 cryptocurrencies. Crypto.com offers a distinctive range of financial solutions related to cryptocurrencies to users in 90 different countries.

A well-known cryptocurrency exchange, Crypto.com, supports a variety of digital currencies and blockchain-related goods. Users benefit from relatively low trading costs and can buy, sell, and exchange a wide variety of currencies.

The business also provides NFT marketplaces, independent crypto wallets, decentralized exchanges, and cryptocurrency credit cards.

Additionally, customers can earn up to 14.5 percent interest by staking their cryptocurrency or keeping it in a Crypto.com wallet for a predetermined amount of time.

Crypto.com might be a wise alternative for anyone who wants to buy and hold digital currencies like Bitcoin and Ethereum. Fees are capped at 0.40 percent and decline with high trading volume or a sizable CRO currency holding.

Currently, 250 different currencies are supported by Crypto.com, which also provides complex order types and a platform for trading cryptocurrency futures.

What is the minimum withdrawal on Crypto com?

The minimum deposit or withdrawal amount on the Crypto.com platform for bank transfer is 500 USDC. The fee to also withdraw from your USDC wallet is 25 USDC.

How to Create an Account on Crypto.com

To create an account on crypto.com, first:

Download the Crypto.com app from the Apple Store or Google Play Store to set up an account.
Open or launch the application
Then choose a password and enter your email address.
Your name, a photo of your photo ID, and a selfie are used for account verification on Crypto.com for new users.
The next step is to link a payment option, like a bank account.
The time needed to set up a new account, including KYC verification, is often around ten minutes. You can probably finish it in five minutes or fewer if you can type quickly and have your ID on hand.

Post Registration Deposit

Post-registration deposit on Crypto.com is when you will need to make a deposit to begin trading and investing your funds.

Therefore, to deposit supported cryptos on Crypto.com, start by completing a simple wallet-to-wallet transfer:

Make a crypto deposit by going to the “Dashboard” page
Locate the “Spot” page under the “Wallet” dropdown menu options
Choose the crypto that you wish to deposit
Then click on the “Deposit” icon
The next thing to do is ‌scan the QR code or copy and paste the shown Crypto.com wallet address to your external wallet.
Input the amount of crypto you want to transfer to your Crypto.com wallet
Hit send to complete the transfer
Once your funds have dropped and are reflected in your Crypto.com wallet, you can ‌trade and enjoy Crypto.com’s full product features.

Note:

As a user, you may also deposit fiat money via bank transfers on the Crypto.com application. Check the other fiat currency deposit section for more information.

Recommended:

What are the Fees for Crypto.com?

The Crypto.com platform charges a maker and taker fee which are both 0.40% to 0.40%. Trades with a total monthly trading volume of less than $25,000 will incur a 0.4 percent fee for new Crypto.com customers who have staked no CRO.

The trading costs are not the lowest in the market, but they are a little lower than those of several major competitors.

Higher volume traders may be eligible for maker or taker fees as low as 0.04 percent or 0.1 percent, respectively, without CRO staking.

If you have at least 5,000 CRO in your wallet, you can get lower trading costs. Traders that have up to $25,000 in monthly volume pay 0.36 percent at that time. Rates drop as stake size increases. Because there are no additional per-trade costs, Crypto.com’s pricing is reasonable.

Trading Experience on Crypto.com

The Android and iOS versions of Crypto.com’s mobile app serve as the website’s main center. You will probably find the process simple and intuitive if you’re used to trading stocks via a smartphone app.
You may browse your portfolio and a list of popular assets fast using the Crypto.com app.
Everything you need to trade currencies, earn money by staking your cryptocurrency, send payments in cryptocurrency, or apply for a Crypto.com credit card is included in the mobile app.
Its charting features are rather basic and don’t provide you with a lot of information.
To help you understand how the blockchain and currency function before making a purchase, each currency’s website offers a brief introduction and links to additional in-depth information.

The Australian dollar (AUD), Canadian dollar (CAD), euro (EUR), pound sterling (GBP), U.S. dollar (USD), and Brazilian real (BRL) are among the other fiat currencies that are supported by Crypto.com. Users from many nations can simply buy cryptocurrency thanks to this flexibility using their native money.

Account Administration on Crypto.com

The mobile app allows users to easily view their Crypto.com accounts and assets.

You may manage your bank accounts, check transfers, trade cryptocurrencies, and check the balance on your Crypto.com credit card through the app.

Crypto.com App

The crypto.com application is a platform where you can:

Buy and sell cryptocurrencies at the true cost
Spent with your crypto.com visa card and about 5% back
Grow your portfolio by receiving rewards on your crypto assets,

Therefore, to download the crypto.com app on the Google play store click here, and to download it on the apple store, click here.

How do I get my money out of Crypto.com?

How to withdraw your money from Crypto.com is through the application. Follow the steps below to get your fund out:

Launch your Crypto.com app
Link your bank account if you haven’t done that before
Check the bottom of your app screen, and look for the pop-up that gives you two options, “deposit” and “withdraw”.
Choose the “Withdraw” option
Select the amount to withdraw your funds.

Does it cost to withdraw from Crypto.com?

They charge you depending on how you deposit money into your Crypto.com account but it is affordable.

Transaction	Fee
Crypto withdrawal fees	Charges depend on your currency
Exchange crypto to crypto on Crypto.com	This is free
Crypto deposit fees	Free
Send crypto to other Crypto.com App users.	Free and no charge

How Do Crypto.com Fees Compare To Other Exchanges?

Exchange	Trading Fees
Crypto.com	Maker and taker fees are 0.04% to 0.40% respectively.
BinanceUS	A 0% – 0.10% maker-taker fees and also 25% discount for Binance Coin
Bittrex	0% – 0.35% maker to taker fees
Coinbase	Over 1.49% – 3.99% trading fee. They also charge a $0.99 to $2.99 flat fee with a spread fee of 0.50%

Available Cryptocurrencies on Crypto.com

A portion of the over 150 currencies available for spot trading on Crypto.com is also supported for staking.

You should expect to ‌buy and sell most of the most widely traded currencies, even though there are too many supported currencies to mention them all here.

Popular resources on the platform comprise:

Bitcoin (BTC)
Ethereum (ETH)
Cardano (ADA)
Dogecoin (DOGE)
Polkadot (DOT)
Ripple’s XRP (XRP)
EOS (EOS)
Litecoin (LTC)
Chainlink
Stellar’s Lumen (XLM).

Additionally, Crypto.com offers CRO, to its own coin. The organization pays you with cheaper trading fees, greater staking interest rates, and larger credit card benefits if you own a sizable investment in CRO.

Crypto.com Wallets

The company’s wallets are solely to support spot and derivatives trading. The features of the crypto.com wallets include:

Supported cryptos may be transferred between external and Crypto.com wallets.
There are withdrawal fees attached
For users already holding Crypto.com supported coins, there are no deposit fees.
The “Wallets” page allows users to deposit and withdraw crypto
They can also trade and view individual and total account balances through the “Wallets” page too.
Crypto.com wallet allows users to view transaction histories and other information.
For each of the wallets, they provide single crypto balances plus the balances in Bitcoin and Dollars.

Security on Crypto.com

The multi-factor authentication (MFA) and
Whitelisting is two of the security procedures that Crypto.com employs to protect user accounts.
They also use 2-Factor Authentication (2FA) where customers need to enable it to change passwords and withdraw funds.
To also help prevent breaches and losses, Crypto.com uses strong compliance monitoring besides its security measures and holds customer deposits offline in cold storage.
Additionally, it collaborates with regional banks in the US to offer $250,000 in FDIC insurance on balances in US dollars.

Naturally, using a strong password and following your online security procedures will also help safeguard your account. It’s doubtful that you will ‌retrieve any lost cryptocurrency if your account is compromised because cryptocurrency transactions can never be undone.

Crypto.com Visa Card

The Crypto.com Visa cards are metal cards that offer CRO rewards and other benefits to save Crypto.com application users money.

Explore the Crypto.com Visa Card Rewards for more information on the benefits for using the Crypto.com Visa card.

How to Apply for Crypto.com Visa Card

To apply for your Crypto.com Visa Card, follow the steps below:

Sign Up: You can sign up for a Crypto.com Visa Card by downloading the Crypto.com App via your iPhone or Android phone by completing the platform KYC.
Apply for the Card: when you are done downloading the app and completed their KYC, move to the “Card” page on the application which you will see at the bottom right corner of the app.
The next thing to do is to select your preferred card tier and stake the respective CRO equivalent. Check the current CRO staking rates/prices here.
Go further to accept the Terms & Conditions
Have sufficient CRO in your application wallet to stake for 180 days lock-up period. Check how to stake here.
Input and submit your address. Then go further to confirm your delivery address. Information on the proof of address is seen here.
The next is shipment. When your Crypto.com VISA card is ready to be shipped to your destination, you will automatically be prompted to update the application and stake CRO, if you have not done so.
Finally, you will see the card’s status in the App. Once you have successfully completed these steps, know that the card is being shipped.

Note: Once they are done reviewing your address, you will receive a virtual card in the App. Click here for more information on the virtual card and details on the physical cards in the EU/UK and US. For other Crypto.com visa card information, click here.

Crypto.com Visa Card Issuing Status

After submitting your proof of address, keep checking back on the Card Issue Status on the card reservation page for it to change to Shipped, which means your card is on its way!

Can I trust Crypto.com?

Cryptocurrency is a risky business but investing using the crypto.com platform is safe and your money is safe as well. The legitimate security protocols it follows are tight and;

Your U.S. dollar funds are FDIC-insured tightly
Crypto.com rolled out the universal Account Protection Program. The program restores up to $250,000 for customers in select markets for both digital and fiat currencies.

Is your money safe on Crypto.com?

Your money in Crypto.com is safe because they regularly undergo security audits and they carry insurance made to protect customer funds.

My Personal Review on Crypto.com

My ‌personal review on crypto.com is excellent. What I like so much about them is their customer service. They come through for you when you need them.

Crypto.com Review Trustpilot

On Trustpilot, at the time of writing this article, the review on Crypto.com is seen below:

Excellent is 21%
Great is 5%
Average is 4%
Poor is 6% and finally
Bad is 64%.

To view the review yourself click here

Cryto.com Review Reddit

To view crypto.com review on Reddit, click here.

Customer service on Crypto.com

Customer service for Crypto.com is accessible through:

The help page
Email, and
Live chat.
via Social Media: Social media like

Facebook: https://www.facebook.com/CryptoComOfficial.
LinkedIn: https://www.linkedin.com/company/cryptocom.
Twitter: https://twitter.com/cryptocom and
YouTube: https://www.youtube.com/channel/UCOMprzxakZOqmY23LYIawmg.

Customers of Crypto.com cannot get phone help. Although customer care is offered by email and chat, several users complain about delayed responses and a lack of help with account issues.

Generally speaking, it is a good idea to think of Crypto.com as a self-service website as customer support isn’t always useful.

Customer Contentment on Crypto.com

Overall, consumer ratings for Crypto.com are unimpressive; the site is:

Rated only 2.2 out of 5 stars on Trustpilot.
Most unfavorable reviews highlight issues with withdrawals, frozen accounts, and bad customer support.
Others have mentioned lost money and compromised accounts, which is worrying.

Crypto.com does not differ from the many other bitcoin exchanges that have subpar customer support. It’s probably better for people who are at least slightly familiar with online financial goods and won’t require much help.

How Other Cryptocurrency Companies Compare to Crypto.com

Both Crypto.com and Coinbase are well-known exchanges in the US. In comparison to Coinbase, Crypto.com provides a larger selection of tradable assets and more affordable trading costs.

But unlike Coinbase, its platform is more difficult to use, and the trading environment is less user-friendly. However, depending on your requirements, Crypto.com might be a better option.

Coinbase Vs Crypto.com

The key distinctions between Crypto.com and Coinbase are listed below:

Coinbase	Crypto.com
Crypto.com charges up to 0.40 percent for trades.	Coinbase Pro costs 0.50 percent
Crypto.com supports over 250 virtual currencies while	Coinbase only supports 158.
Newbies may find it simpler to use Coinbase’s platform	Newbies may not find it simpler to use Crypto.com.

Both Crypto.com and Coinbase may be useful for various trading and investment objectives. You might decide to register an account with both, depending on your requirements and trading background.

20 Crypto.com App Geo-Restrictions

Afghanistan
Albania
Algeria
Andorra
Angola
Anguilla
Morocco
Mozambique
Namiba
Nauru
Nicaragua
Niger
Pakistan
Uganda
West Bank
Western Sahara
Yemen
Zambia
Zimbabwe
The US states: New York e.tc.

Conclusion

For cryptocurrency traders seeking a platform with satisfactory costs and a large selection of supported currencies, Crypto.com is a fantastic option.

It may be best suited for those with intermediate bitcoin understanding and experience and is suitable for those who feel comfortable maintaining a financial account through a mobile app.

As with other cryptocurrency exchanges, Crypto.com’s customer care isn’t its strongest point, so expect a ‌self-service experience. If you’re okay with it, Crypto.com might be a good fit for your requirements.