Crypto.com stands tall as a well-known cryptocurrency exchange, supporting a series of blockchain products and crypto-related assets. It’s here that you can purchase, sell, or trade a wide list of cryptocurrencies. And you can do it while enjoying relatively low transaction fees.
In addition, the company also offers crypto credit cards, decentralized exchanges, independent crypto wallets, and NFT markets. What’s more, you can choose to take a stake in their cryptocurrency or keep it in the Crypto.com wallet. In choosing the latter, you can earn up to 14.5% in interest over a set period of time in the wallet.
Anyone wanting to purchase and hold cryptocurrencies such as Bitcoin or Ethereum, Crypto.com may be your best bet depending on your needs. For starters, the site has respectable fees, which are capped at 0.40%.
What’s more, these fees decrease if your transaction volume is high or the amount of CRO currency (Crypto.com’s currency) you hold is considered significant.
At present, Crypto.com supports more than 150 currencies. You can even get advanced orders if you like, as well as trade futures.
Before proceeding with any exchange and trading currencies, it’s important to keep in mind that this market is considered highly volatile. As such, any investments you make are high-risk. Therefore, you should only ever invest if you have money to spare. Never invest if you can’t feasibly afford it.
Established in Hong Kong in 2016, Crypto.com currently provides over 150 types of cryptocurrencies. The exchange is also home to more than 10 million users across 90 countries/regions. The platform is notable for featuring a unique set of financial products related to cryptocurrency.
With its long currency list, low prices, and unique features, Crypto.com makes for a suitable starting point for beginners. And yet it’s also ideal for seasoned cryptocurrency users. That said, some beginners may feel that Crypto.com actually has too many features, thus making it seem daunting.
In general, though, Crypto.com is a good fit for anyone wanting to get the most out of their cryptocurrency. But if you are content with just buying and holding your crypto, you may want to look elsewhere.
Overall, this is a commendable platform for anyone who is actively trading and wants to use cryptocurrency as a true form of tender rather than simply an investment.
Our Review of Crypto.com, Is It a Good Option?
Quite simply, Crypto.com offers a wealth of tools, resources, and features to keep experienced users happy. Moreover, it’s a good option for anyone who has grown tired of just buying and holding crypto and wants something more.
Crypto.com is also a viable solution for beginners looking for a platform to show them the ropes and get acclimated to the world of crypto. Admittedly, some aspects of Crypto.com may prove to be a bit overwhelming for those just starting out, but that’s what Crypto.com’s University is for.
There, anyone can learn the nuances of cryptocurrency to better understand how it works. Overall, some time and patience are all that’s needed to get the most from Crypto.com and your cryptocurrency.
Crypto.com Account Fees and Accessibility
New Crypto.com users without any CRO collateral will pay 0.4% for transactions with a total monthly transaction volume of less than $25,000. Transaction fees are a bit lower than what you see in some large industry competitors, but not the lowest.
Traders with large trading volumes are eligible for a manufacturer fee as low as 0.04% or a taker fee of 0.1% without the need for CRO collateral.
When you hold at least 5,000 CROs in your wallet, you can get discounted transaction fees at the time of writing; 5,000 CROs are worth approximately $1,280. At that time, traders with monthly transactions of up to $25,000 paid 0.36%.
The interest rate drops as the bet increases. What’s more, there are no additional per-transaction fees, so Crypto.com is competitive in terms of pricing.
How Does Crypto.com Make Money?
Crypto.com makes money through various transaction fees, loan interest, exchange, withdrawal and currency exchange fees, sales fees in its NFT market, and by selling the stocks of the companies it invests in.
Let’s learn about each of them in detail in the following sections.
Crypto.com makes no bones about its debit card offer to users. There are various card tiers that users can access based on how much CRO they’ve staked.
The debit cards come with different benefits, including:
- Reimbursements for subscription services like Amazon Prime, Netflix, or Spotify
- Discounts through Expedia or Airbnb
- Cashback rewards (1% to 8%)
- Airport lounge access
- And more
Crypto.com makes its income from the debit card through interchange fees. These fees are merchant-paid (typically 1%). Visa, the card issuer, will then receive its share of the income.
Moreover, you will also be charged fees for currency exchange and taking money out of an ATM. Likewise, the amount you can withdraw or redeem depends on the level of the card.
One of Crypto.com’s primary goals is to introduce its currency worldwide, and its debit cards help to do exactly that. What’s more, these cards also serve as a way to cross-sell Crypto.com’s more profitable services.
For example, card users may also buy NFTs with their account balances. Or, they can deal in financial derivatives on the platform.
It’s safe to assume that once Crypto.com collects enough financial data about its users, the platform will be able to provide ancillary services, such as tokenized stocks or insurance.
In addition to card-related fees, a large part of Crypto.com’s revenue also comes from fees related to its centralized transactions. On the exchange, users can buy dozens of different cryptocurrencies and other financial derivatives, such as options and futures.
Like many other cryptocurrency exchanges, Crypto.com uses a maker-taker fee structure. This essentially means that the trader pays different fees, depending on whether their order generates liquidity because there is no matching order (= you are the manufacturer).
Or, the order reduces liquidity because it is on the books and the order matches (= you are a taker). Therefore, when traders are the recipients, they usually pay higher fees. However, the more CRO a user holds and the more transactions they perform, the higher the discount they receive.
In addition to transaction-related fees, Crypto.com also charges withdrawal fees, which depend on the destination (you can withdraw to another blockchain network) and the type of currency redeemed.
In addition to its own currency and debit cards, Crypto.com provides loans to traders (such as margin trading) and account holders who use debit cards.
Users may use CRO, ETH, BTC, or any other cryptocurrency as collateral. Conversely, loans are issued in PAX, USDT, TUSD, or USDC.
Crypto.com then gets paid whenever it collects on its loan interest. The interest paid by the borrower depends on many factors, including the collateral, the number of pledged CROs, the amount borrowed, and so on.
In order to compete with the much-hyped OpenSea and banking platforms, Crypto.com has launched its own marketplace to list and sell NFTs.
Issuance and ownership records are stored on their own Crypto.org chain. NFT can be purchased using the chain’s native token CRO.
NFTs can be purchased at a fixed price set by the seller, or they can obtain ownership by auctioning the highest bidder.
Crypto.com charges creators a 15% sales fee for each NFT sold on its market. Traders, that is, traders who resell NFTs, charge a 5% fee on the secondary market.
Crypto.com launched a fund worth $200 million back in March of 2021. Known as Crypto.com Capital, this fund invests in businesses related to the blockchain.
The fund primarily targets businesses in the Series A and seed stages. With seed stages, Crypto.com will issue a check for $100,000 to $3 million, and Series A donations can be anywhere from $3 million up to $10 million.
In doing so, Crypto.com continues to push its plan to get its currency and services more widely available to traders and investors. At the same time, it’s good to see an exchange platform support like-minded businesses, as it only helps boost the appeal of cryptocurrency worldwide.
Crypto.com Ease of Use
Crypto.com is a user-friendly ecosystem centered on crypto. Thanks to its accessibility, Crypto.com is ideal for beginners, as it makes it very easy to acquire, exchange, and use cryptocurrency. In addition, anyone can use its other crypto services, such as:
- DeFi Wallet
- DeFi Swap
As you can see, Crypto.com gives you plenty of options to access and make use of in your trading ventures.
If you’re looking for a simple and straightforward way to log into Crypto.com, you simply need to download the app. From there, you can manage your Crypto.com debit card, buy or sell crypto, exchange various fiat currencies, access Crypto Credit and Crypto Earn, use crypto to make purchases, and more.
You may also track your investment portfolio, withdraw crypto from wallets, send currencies to the exchange, or manage deposits. As such, Crypto.com’s app serves as a personal financial center for your fiat and cryptocurrency needs. You can pick up the app by downloading it via Google’s Play Store or Apple’s App Store.
What Crypto Education Does Crypto.com Offer?
Crypto.com features an entire “University” section of its website dedicated to teaching beginner traders how the world of trading works. Here, you can learn everything from the basics of crypto to full economics and trading.
Those who are new to the world of crypto likely have a difficult time discerning Dogecoin from Bitcoin. Crypto.com aims to change all that by offering free information in easy-to-read formats that take only a few minutes to cover.
Don’t know a blockchain from a chain-link fence? Let Crypto.com’s Technology section fill in the gaps so you’ll be ready to discuss cryptocurrency and all that it entails. The reading material here takes things up a notch, but it’s necessary to ensure transparency and comprehension.
Privacy and Safety
Here, Crypto.com introduces you to things like cryptocurrency wallets, cryptography, and the role of privacy in the crypto market. A must-read section for anyone just getting their foot in the door who wants to make sure they fully understand all of the intricacies of crypto.
The Economics section is packed with essential information that covers everything from the early days of money to the modern cryptocurrencies being traded today. It’s here that you’ll also learn about the importance of decentralized finance and the ecosystem that houses it all.
Lastly, the Trading section of Crypto.com’s University system includes discussions on futures, options, behavioral finance, exchange, and more. You’ll even learn about managing your portfolio and valuating crypto assets.
Anyone getting into crypto needs to explore every topic available here to ensure a comprehensive understanding of this vital area.
Cryptocurrency Offerings through Crypto.com
With more than 150 cryptocurrencies currently available on Crypto.com, you should have no trouble finding your currency of choice. Some of the more popular options include:
Binance Coin (BNB)
USD Coin (USDC)
SHIBA INU (SHIB)
Crypto.com Coin (CRO)
Binance USD (BUSD)
Wrapped Bitcoin (WBTC)
Bitcoin Cash (BCH)
Axie Infinity (AXS)
FTX Token (FTT)
NEAR Protocol (NEAR)
Bitcoin BEP2 (BTCB)
The Sandbox (SAND)
Internet Computer (ICP)
Ethereum Classic (ETC)
The Graph (GRT)
UNUS SED LEO (LEO)
Overall Crypto.com Review
From the website to the app, Crypto.com is a streamlined service that will serve you well in fulfilling your crypto needs. The sheer number of currencies alone ensures that you have plenty of options at your disposal.
And thanks to Crypto.com’s essential University section, anyone can gain the knowledge and understanding needed to benefit from trading and investing.
John S. Logan has been working with cryptocurrency for nearly as long as it has been available on the market. With a professional background in the finance industry, he believes that blockchain technology, cryptocurrency, and decentralized finance play an important role in the future of the world.