After our review of 16 Australian platforms, we ranked Crypto.com the best for staking and rewards. Crypto.com lets you trade 200+ cryptocurrencies, earn interest on over 40 of those coins, and earn other rewards through crypto Visa cards and more.
In the big categories, Crypto.com scored best in security and total number of features. It was average in fees getting a 1.30% total purchase fee for Bitcoin. It's weakness was ease of use because the app layout is very confusing and hard to navigate in our opinion.
You should use Crypto.com if you want a crypto Visa card, the ability to put your crypto to work or have access to lots of features overall. If you're looking for the cheapest platform, the most altcoins, or something else, check out our best Australian Crypto exchanges.
What Are The Reviews on Trust Pilot?
Crypto.com has poor reviews on Trustpilot with roughly a 2.0/5 score. The negative reviews revolve around high fees, not being able to get verified, and sometimes their account being locked for suspicious activity.
Where It Shines:
Wide Array of Features: It's hard to find platforms with more features and services than Crypto.com. They have crypto credit cards, staking, DeFi, NFTs and much more
Best for Staking & Rewards: Out of all crypto exchanges, Crypto.com is one of the best places to put your crypto to work and earn interest in different ways
Above Average Security: Crypto.com has a great reputation, $750 million of insurance and more security features relative to other platforms
Where It Falls Short:
Ease of Use: The Crypto.com App has a confusing layout and it's hard to navigate compared to other platforms
Fees & Spreads: Crypto.com is not the most expensive, but you can still find cheaper platforms like Binance AU, Kraken and more
Relatively Slow Deposit & Withdrawals: Not a major issue but AUD transfers take 1-4 days. No instant options are available
Some Restricted Features: Unfortunately, some features such as derivatives are restricted for Australian users
Total fees and spread was tested Dec 17, 2021 and is subject to change
Crypto.com is a Singapore-based cryptocurrency exchange where both beginner and advanced traders can buy and sell 250+ coins. In addition, they offer many other services, including Metal Visa cards, interest accounts, and their own native token called Cronos (CRO). It's important to keep in mind that while they offer zero trading fees, Crypto.com makes money on the spread.
They were established in 2016 and have expanded to 90+ countries worldwide. Today, Crypto.com has become one of the world's largest crypto exchanges and brands, with over 70 million users and 4,000 employees. They do lots of marketing and have big partnerships with companies like Visa, the UFC, Fifa World Cup, and Formula 1.
Does Crypto.com Work From Australia?
Crypto.com works in Australia and supports AUD deposits with PayID, BPay, Direct Bank Transfer and more. Australians can access most features like 200+ cryptos, visa reward cards, interest accounts, and more.
Platform & Features
Crypto.com lets you trade 150+ cryptocurrencies but isn't limited to just that. They have an ecosystem of crypto products and features. Let's look at what they are:
List of Features:
iOS and Android app
Crypto.com Exchange (Pro Platform and separate app)
CRO (their own native token)
Supercharger (liquidity mining)
Crypto credit cards
DeFi Wallet (separate app)
24/7 customer support
1. iOS and Android App
Crypto.com is a mobile-only platform available on iOS and Google Play. All trades are market orders and the user-interface can be a little tricky to navigate which might confuse some beginners. The only web version available is for the Crypto.com Exchange which is their professional platform.
2. Crypto.com Exchange (Pro Platform)
The Crypto.com Exchange is their pro trading platform that is separate from the mobile app. On it, you have access to a live order book, technical charting tools and indicators via TradingView, market orders, limit orders and stop-limit orders.
There's also other features accessible on the Exchange such as The Syndicate (token fundraising platform), Trading Arena (battles and competitions), a referral program and more. The downside is Australians cannot deposit or withdraw fiat onto the Exchange, they can only transfer crypto.
3. Crypto.com Coin (CRO)
Crypto.com has its own utility token called CRO which powers many features and benefits on the platform. Owning CRO can provide perks like higher staking rewards, reduced transaction fees, better Visa rewards and more.
4. Crypto.com Earn
Crypto.com Earn lets you deposit 40+ cryptocurrencies such as USDT, Bitcoin and more to start earning interest. It's like a savings account for your crypto that pays you good interest rates ranging from 0.50% to 13% per annum.
There are 3 levels which are flexible (withdraw anytime), 1 month and 3 month lockup terms. Keep in mind, to get the highest interest rates, you need to stake a significant amount of CRO. The rewards are credited into your account every 7 days.
Supercharger is similar to Earn but has limited time promotions. It's a liquidity mining platform that lets you easily mine popular DeFi tokens and earn up to 75% APY.
To get started, you can deposit CRO into the pool to start earning a specific token. Then, you can withdraw at any time. You will receive rewards in your account daily.
6. Crypto Credit Cards
One of Crpyto.com's main feature is their prepaid crypto credit cards in partnership with Visa. At the time of this writing, they offer 5 different card tiers that offer 1% to 8% cashback in CRO on your purchases.
The rewards are fantastic and can include up to 8% cashback, free Netflix, Spotify and more. The downside is it's very expensive to get the highest rewards. Only 1 card is free (which gives 1% cashback) and the rest require you to stake $400-$400,000 of CRO to get the higher tiers.
Australians can take out instant loans by using their crypto as collateral. The interest rates are pretty low ranging from 1%-8% APR depending on your LTV and if you stake CRO or not. You can pay back your loan partially or in full within 1 year.
8. Recurring Purchases
You can set up automatic, scheduled purchases to dollar cost average your way into the market. It's available for a handful of cryptocurrencies and the minimum purchase is $72 AUD.
Payment methods include fiat, crypto or credit card and you can customize the frequency (daily, weekly, bi-weekly, monthly) and day of the week.
9. Crypto.com University
Crypto.com launched their "University" which is a new learn and earn program. Users can go through a series of short blockchain articles, quizzes and missions to earn rewards. You will be rewarded in Diamonds which can be exchanged for NFTs, merchandise, experiences, and even a CRO mystery box. One of the experiences includes a PSG stadium tour for 3,000 diamonds.
9. Other Features
Create watchlists and price alerts
Crypto.com news from inside the app
Toggle Light/Dark mode
Refer a friend program
DeFi Wallet - separate app to manage your DeFi assets and more
Crypto.com Tax Australia
Under 10 minutes
Up to 3 business days
Sign Up Requirements
Legal first name and last name
Picture of government issued ID (eg. drivers license or passport)
Upload selfie with note
Proof of address (for some users)
Opening a Crypto.com account is similar to opening a bank and requires some personal information. By law in Australia they must verify your identity so have your documents ready. This process is similar for any centralized crypto exchange based in Australia.
If you have your ID ready, the process takes under 10 minutes and is straightforward. Most users will be verified in a few hours but it can take as long as 3 business days. For some users, Crypto.com might ask for additional information such as proof of address.
Is Crypto.com Safe in Australia?
Crypto.com is very safe for Australians. They are regulated with AUSTRAC to the same requirements as other popular platforms like Coinspot, Swyftx and more. Plus, Crypto.com uses cold storage and has a 750M insurance policy in case they get hacked.
Even though Crypto.com is safe, it's still a centralized company that is holding your funds. The safest way to store your crypto is to control your keys on a free software wallet or ideally, a hardware wallet like the Ledger Nano S.
Company Security Features
They claim 100% of users funds are held in offline cold storage using Ledger Vault
$750 million cold storage insurance policy for physical damage and third-party theft
Dedicated team to monitor for suspicious transactions
Software is peer reviewed before being updated
Employees take security awareness and privacy training
Partnerships with Visa, UFC, Formula 1 and many more which adds some legitimacy
User Security Features
Crypto.com offers two platforms, the mobile app and the "Exchange" for a pro trading interface. We've collected the security features for each one:
2 Factor Authentication (via app like Google Authenticator, Authy, etc)
Optional passcode when opening app
Biometric login (eg: face ID, touch ID)
Create Anti-Phishing code to identify legitimate emails
View app and company incidents in real-time on system status page
2 Factor Authentication
Create withdrawal whitelists
Add/remove trusted devices
View account activity (login history, IP addresses, etc)
Deposits & Withdrawals
AUD Deposit Methods
Direct Bank Transfer
AUD Withdrawal Methods
Direct Bank Transfer
Crypto Withdrawal Fees
Fees & Spread
Crypto.com advertises “crypto at true cost” and no fees but this isn’t necessarily the case. They charge higher spreads than the competitors we tested which is essentially a hidden fee. Crypto-com had a 1.75% spread on Bitcoin which was 12th place out of 15 platforms. Binance, for example, had a 0.07% spread and only 0.10% trading fees.
Price Test (Feb 6, 2022 at 3:29pm)
This data is subject to change as spreads and prices change daily. However, we tested 10+ platforms simultaneously to help you compare true fees on each platform.
$100 Buy After All Fees
$98.70 (1.30% total fee)
$100 Sale After All Fees
$99.55 (0.45% total fee)
BTC Buy Price
BTC Sell Price
Ref. Price Difference
Reference Price (Google)
How We Tested This
The "$100 After All Fees" adds everything from when you deposit money to make your order plus the reference price difference.
The price test was conducted by logging into all platforms simultaneously and collecting buy/sell orders. We did this as quickly as possible (within minutes) in order to be as accurate as possible since prices can change rapidly. Find out more about our testing process.
From our test, Crypto.com had a 1.30% total purchase fee for buying Bitcoin. The spread was 1.75% and the total selling fee was 0.45%. See the prices for all Australian crypto exchanges here.
You can easily contact Crypto.com customer support from inside the mobile app. They are available 24/7 and they say they typically respond within a few hours. In addition, they have a detailed knowledge base with FAQs, articles and walkthroughs. There is also a live status page where you can view incidents in real-time.
Yes, Crypto.com is a legitimate cryptocurrency exchange. They are compliant with Australia's strict financial sector, they have lots of security features and over 10 million people are using the platform globally.
Is Crypto.com Insured?
Crypto.com has a $750 million insurance policy, making it one of the largest in the crypto industry. In the event that Crypto.com is hacked or loses money through their own fault, it will be compensated. It does not cover issues that occur on your end, such as if someone steals your password.
Is Crypto.com A Wallet?
Yes, the Crypto.com app gives you a unique wallet address for every coin that's supported on the platform. You can deposit and withdraw however, you do not own the private keys.