Crypto.com exchange review – best mobile crypto trading app 2022
Crypto.com exchange (legal name: MCO Malta DAX Limited) is a cryptocurrency investing and staking platform. It was founded in June 2016. Crypto.com’s founders are Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. It has raised $26.7 million. Crypto.com exchange is based in Hong Kong.
Features of Crypto.com Exchange Review
In this review, we will cover various features of Crypto.com which are a must for a crypto investor before creating an account on it. This review will help in understanding crypto.com exchange in a better way. This review is based on our findings.
Features
Origin
Supported Currencies
Native Coin
Interest Rate On Crypto
Interest Rate On Stable Coins
Maker Fees
Taker Fees
Customer Support
Security
Payment Methods
Supported Countries
Detail
Established in 2016, in Hong kong
Worldwide: 150+cryptocurrencies pair
Yes, CRO
Up to 6.5% per year
Up to 12% per year
0.036% to 0.10%
0.090% to 0.16%
Via App, Chat, Email.
Coin stored in cold storage multi-factor authorization.
Credit card, Debit card, Crypto.com card,and coins
Crypto.com is supported in every part of the world.
Crypto.com exchange crypto ecosystem consists of Crypto.com App, Crypto.com Exchange, Crypto.com DeFi swap and Wallet, Crypto.com Pay, Crypto Earn, Crypto Credit, and many other services. Crypto.com works with regulatory institutions all over the globe and aims to bring you the most convenient way to buy, sell, trade, and spend cryptocurrencies.
Supported Currencies
Crypto.com exchange users can trade over 150 cryptocurrency pairs. You can purchase crypto using your debit or credit card with over 20 fiat currencies in their mobile app. However there is restricted to some countries, so you may find fewer pairs depending upon your geographical location. You can check the price of all cryptos here.
CRO Coin
Crypto.com exchange offers its own native cryptocurrency called the CRO. Crypto.com users can choose to receive payments in CRO as well as stable coins or fiat. They can also swap CRO or stake it to boost their interest yield by 20x.
Crypto.com Exchange trading fees
Cronos (CRO) is the native token of Crypto.com an all-in-one cryptocurrency platform and the Crypto.org Chain. Crypto.com, a payment, trading, and financial services company with a mission to make crypto more accessible to the public, was created in June 2016 and was formerly known as Monaco.
Crypto.com is on the lower end when it comes to trading fees for centralized exchanges. Though different products are priced differently, it is one of the best fiat-to-crypto gateways in the crypto industry.
Deposit and withdrawal fees
| TRANSACTION | FEE |
|---|---|
| ACH transfer | Free (minimum $20) |
| Wire transfer | Free (minimum $5,000) |
| Debit/credit card crypto purchases | 2.99% (waived for the first 30 days on the Crypto.com app) |
| Purchase crypto with money you’ve deposited | Free |
| Send crypto to other Crypto.com App users | Free |
| Exchange crypto to crypto | Free |
| Crypto deposit fees | Free |
| Crypto withdrawal fees | Depends on the currency. (For example, it costs 0.0004 BTC to withdraw Bitcoin and 100 CRO to withdraw Crypto.com Coin.) |
Maker / taker fees
| 30 DAY TRADING VOLUME (USD) | MAKER | TAKER |
|---|---|---|
| $0 – $250,000 | 0.10% | 0.16% |
| $250,001 – $1,000,000 | 0.09% | 0.15% |
| $1,000,001 – $20,000,000 | 0.08% | 0.14% |
| $20,000,001 – $100,000,000 | 0.07% | 0.13% |
| $100,000,001 – $200,000,000 | 0.06% | 0.12% |
| $200,000,001 and above | 0.04% | 0.10% |
Crypto.com App fees
In our experience, the Crypto.com App is by far the easiest way to buy, sell, send, receive, exchange, and pay with crypto via Crypto.com. The app lets you deposit cryptocurrencies free of charge, allows free crypto to crypto exchanges, and supports free transfers to the Crypto.com Exchange and DeFi Wallet.
However, it charges a fee for crypto withdrawals to an external address which differs based on cryptocurrency being withdrawn.
Crypto.com Exchange fees
The Crypto.com Exchange charges trading and withdrawal fees. The trading fees are based on your 30-day trading volume, where get more discounts as your trading volume increases. You also have the option to stake CRO tokens and pay your trading fees with CRO. The more CRO you stake, the bigger your trading discount. As a bonus, you will get 10% p.a. earnings on your CRO stake. All you need to do is the stake at least 5,000 CRO and pass KYC verification to earn trading fee rebates.
Supported Payment Methods of Crypto.com exchange
Supported payment methods vary from country to country, but generally, you’ll find:
Funding and buying
- Debit card
- Credit card
- Fiat wallet via bank transfer
- Existing cryptocurrency
Withdrawal
- Bank transfer
- Crypto.com Visa Card
- Withdrawal to another cryptocurrency wallet
Cashback cards
Crypto.com offers five prepaid Visa Cards. They can be used anywhere that accepts Visa, but you’ll have to top them up before you can spend money.
As with its other products, the more CRO you stake, the better the benefits. The top-of-the-range Obsidian card earns 8% cashback (more accurately, crypto back) and comes with a host of extra bonuses. However, you’ll need to stake 5,000,000 CRO (worth around $750,000 at the time of writing) to qualify.
If you don’t have oodles of cash, the no-stake Midnight Blue card pays 1% back on purchases. And for a 5,000 CRO stake (around $750), you’ll get 2% back with the Ruby Steel card. There’s no annual fee, and you’ll get a set amount of free ATM withdrawals and foreign transactions each month, depending on the card.
Crypto.com design and usability
Crypto.com is a beginner-friendly crypto ecosystem that makes it super easy to acquire, exchange, and spend crypto. Besides, anyone can make use of its other crypto services like the Exchange, DeFi Swap, and DeFi Wallet, staking, Earn, Pay, and Lending.
Crypto.com Security
Crypto.com takes the security of users’ accounts seriously. On the asset side, most of the cryptocurrencies on crypto.com are stored in cold storage (i.e.- offline, where hackers cannot get to it). Fiat currencies on the platform are kept in regulated banking institutions where they will be insured and protected according to your local government’s regulations.
On the software side, crypto.com uses multi-factor authorization to access your account. That includes password protection, email or phone verification, and biometrics. Software is regularly peer-reviewed and updated to include the latest security features.
Crypto.com also protects withdrawals by email verification and mandatory whitelisting of any external addresses. If you didn’t whitelist the address, the withdrawal won’t process.
Crypto.com Customer Service
Crypto.com offers 24/7 support via in-app chat and email. It’s clear that Crypto.com’s customer service could be improved. Complaints are largely about slow response times and a lack of support in addressing issues. Service does get better as you reach higher tiers and one of the perks of the VIP program is a dedicated account manager so high-frequency traders might not have the same frustrations as less frequent users.
Pros
- Low fees
- Easy to convert money
- Visa card with cashback rewards
- Earn interest on crypto
- Cryptocurrency selection
- Strong security
Cons
- Difficult to navigate
- Coins aren’t universally available
- Poor customer service
- Lack of educational resources
Conclusion
In conclusion, crypto.com exchange is a crypto exchange that offers a variety of features to its users. These features include a user-friendly interface, a wide range of supported cryptocurrencies, and fast and easy transactions. Additionally, crypto.com offers a rewards program that gives users bonuses for using the exchange. Overall, crypto.com is an excellent choice for those looking for a reliable and user-friendly crypto exchange.
Additionally, crypto.com offers 24/7 customer support, making it a great choice for users who want to trade cryptocurrencies.
Read about the Margin trading platforms
