Crypto.com Review

Crypto.com Ratings at a Glance

Crypto.com is quickly becoming a household name in the cryptocurrency industry after purchasing the naming rights to The Staple's Center. It's a full-service cryptocurrency platform where users can buy or sell crypto, securely store their digital assets and make everyday purchases with their crypto assets using Crypto.com's credit cards. The company prioritizes high security, low fees and tons of opportunities to earn interest and rewards. It's the perfect time to check out Crypto.com. Learn more about what users can expect from the company in our Crypto.com review below.

Crypto.com Features

Crypto.com offers all the popular crypto services you need from buying coins on their cryptocurrency exchange through to spending it on your everyday purchases. Here are their main service offerings:

Crypto.com Visa Card

Crypto.com partnered with Visa to offer a range of crypto Visa cards to its users. There are five card tiers each with its own unique set of rewards and perks: Midnight Blue, Ruby Steel, Royal Indigo & Jade Green, Frosted Rose Gold & Icy White and Obsidian.

Low tier card holders can earn 1% - 3% back (paid in CRO). At the highest tier, Obsidian card holders earn 5% back. Higher tier cards also offer full reimbursement on monthly subscription fees to services like Netflix, Spotify, Amazon Prime and more when you pay for these services using your crypto card. To unlock the higher tier debit cards, you'll need to stake Crypto.com's native token, Cronos (CRO), for a period of 180 days.

The Ruby Card is our favorite for most users, as it only requires staking $400 of CRO to unlock. The Ruby Card grants users 1% cash back (in CRO) and a full rebate on Spotify subscriptions. With a $4,000 stake, you can unlock the Royal Indigo and Jade Green tier which comes with airport lounge access for the frequent flyers.

To get the highest tier card, the Obsidian card, you'll need to stake $400,000 worth of CRO on Crypto.com. This card grants users a whopping 5% cash back as well as airport lounge access (+1 guest) and a private jet partnership. While expensive, users who staked CRO earlier this year have made over 100% returns on their staked CRO. So, at the end of the day many users are profiting from these higher tier cards.

GEN 3.0 Crypto.com Exchange Review

On the Crypto.com exchange, users can trade over 350 cryptocurrencies. You can purchase crypto using your debit or credit card with over 20 fiat currencies in their mobile app.

For users who have completed advanced verification requirements, the cryptocurrency exchange also offers leverage. Leverage allows experienced traders to borrow money to increase trade volatility, but it carries the risk of rapid liquidation and high holding costs due to interest.

Crypto.com launched what it calls its GEN 3.0 Exchange by merging their spot and derivatives exchanges. This has a myriad of benefits including new multi-collateral support where you can use your spot assets as collateral, Smart Cross Margin Policy which will lower margin requirements and increase capital efficiency, greater collateral efficiency and much more. One of the most impactful changes for many Crypto.com users that the new GEN 3.0 Exchange will bring is that they will be able to trade everything Crypto.com offers, all in one app.

Traders who meet eligibility requirements can apply for the Exchange VIP program to receive additional incentives and perks. There are five tiers, based on your monthly trading volume as a percentage of the exchange’s total trading volume. VIP perks include: 

• Reduced maker and taker fees
• Increased API rate limits
• Early access to new products and features
• Exclusive research reports
• Your own dedicated VIP account manager and API tech engineer

Crypto.com Supported Cryptocurrencies

Crypto.com supports a wide array of cryptocurrencies, catering to the diverse needs of its users. The platform offers access to major coins such as Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), alongside numerous altcoins like Cardano (ADA), Polkadot (DOT) and Chainlink (LINK). Additionally, Crypto.com frequently expands its roster to include emerging tokens and DeFi projects, ensuring that users can trade and invest in the latest market trends. With features such as staking, earning interest and an extensive mobile app, the platform enhances user experience while promoting a growing ecosystem of digital assets.

Opening a Crypto.com Account

To register with Crypto.com, start by downloading the app from the Google Play Store or Apple Store. Once the mobile app is installed, enter your email address and choose a password. To verify your new account, provide your name, a photo of your ID and a selfie. Next, link a payment method, such as a bank account. You will need to complete the Know Your Customer (KYC) process if you're linking a bank account in the United States. The entire account setup process, including KYC verification, typically takes less than ten minutes and can be completed in five minutes or less if you have your ID ready.

One of the best features of Crypto.com is its low fees in comparison to other trading platforms. These fees get even lower if you take advantage of CRO token incentives that offset fees and encourage you to become an active crypto trader on its exchange. 

Crypto.com implements a maker/taker fee schedule. Maker fees apply to trades that are not immediately matched with another order. Taker fees, on the other hand, apply to orders that match immediately with existing orders on the order book.

You can reduce your trading costs by trading in higher volumes. Additionally, by locking up CRO, you unlock even greater trading benefits. Enjoy daily CRO payouts as part of your rewards.

Other fees to keep in mind

• Wallet withdrawal fees, depending on the coin you seek to withdraw.
• 0.0260% to 0.04% taker fee on derivatives.
• 0% to 0.02% maker fee on derivatives.
• Visa card withdrawal fees, depending on which tier card you have.
• Network fees for transactions made with the DeFi Wallet. These fees are paid to blockchain miners, not Crypto.com.
• Crypto.com is now offering new users seven days of zero fee for purchase crypto with their credit/debit card.

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. hardware wallets, 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 offers one of the best crypto apps on the market. It’s a fully functional, user-friendly mobile app where you can do anything you could do on the web-based desktop platform. For those who prefer to do everything via their phone or tablet, you can manage your cryptocurrency wallet, place trade orders, monitor your Visa card transactions and more without ever logging in on a desktop.

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.

Crypto.com vs. Competitors

Crypto.com competes with several prominent platforms in the cryptocurrency exchange market. Key competitors include Coinbase, eToro and Robinhood.

• Coinbase is often favored for its user-friendly interface, making it an excellent choice for beginners looking to buy, sell or hold cryptocurrencies. It also provides strong security measures and regulatory compliance, which enhances user trust.
• eToro is primarily a social trading platform that allows users to trade a variety of assets, including stocks and cryptocurrencies, while also offering features like copy trading, where users can replicate the trades of successful investors. 
• Robinhood is primarily known for its commission-free trading of stocks, ETFs, options and cryptocurrencies, making it an attractive option for traditional investors looking for a simple, user-friendly interface.

While Crypto.com offers access to a wide range of services with low fees, users may benefit from exploring or using it alongside other crypto exchange platforms to optimize their trading experience.

As a one-stop crypto shop with incredibly low fees, Crypto.com is tough to beat. With one app, you can buy or sell over 350 cryptocurrencies, manage your cryptocurrency wallet, spend crypto using your Crypto.com Visa card or mobile payment platform and earn interest and rewards daily. While customer service could be better, those who value convenience and affordability will appreciate the ability to manage all of their digital assets in one secure platform. 

Frequently Asked Questions