Copy of Review 1 - Blank

Crypto.com Review for Canada

Last Updated: Aug 2, 2022  |  Published: Mar 29, 2022


This page has affiliate links. Learn More.

You may have seen their advertising in the UFC, Super Bowl or many other places. Crypto.com is one of the world's most famous cryptocurrency exchanges in the world, but is it one of the best?

For this review, we tested Crypto.com next to 15+ other Canadian crypto exchanges so you can compare features, funding methods, fees and more.

Crypto.com

Overview

Total Fees & Spreads: Mar 02, 2022

Coins Offered

200+

Total BTC Purchase Fee

1.68% (9th place)

Total BTC Selling Fee

1.41% (7th place)

BTC Spread

3.11% (16th place)

Trading Fee

Free

Funding Methods

e-transfer, credit card

CAD Deposits

Free to 3.50%

CAD Withdrawals

Free

BTC Withdrawal Fee

0.0006 BTC

Notable Features

Crypto Visa Cards, earn rewards on 50+ coins, lots of features overall

If you just want the final review, here it is:

Our Review 

Don't want to read? Watch the video review published on Mar 25, 2022. Some info in the video could be outdated so refer to the rest of the blog post as well.

Overall, Crypto.com is expensive for Canadians. The total fee to buy Bitcoin was 1.68% (9th place) and the spread was 3.11% (16th place). On the positive side, it's good if you want to earn rewards with their interest accounts, MCO visa cards, DeFi wallet and more.

If you want to buy and sell crypto for the lowest fees with Canadian dollars, skip to the alternatives section.

Where It Shines:

  • Crypto Rewards Cards: Choose from 5 different cash back visa cards and get up to 5% back plus other rewards
  • Earn Rewards: 50+ coins where you can put your crypto to work and earn 0.50%-12.50% p.a. on flexible, 1 month or 3 month terms
  • Lots of Features Overall: Visa cards, Crypto Earn, NFT marketplace, Missions, Rewards, 200+ coins and a lot of stuff to try
  • Good Security & Reputation: $750m insurance policy, +10m users, one of the largest crypto exchanges in the world

Where It Falls Short:

  • Expensive for Buying Crypto: Watch out for hidden fees. The BTC spread was 3.11% (16th place) and the total BTC purchase fee was 1.68% (9th place)
  • Funding & Withdrawals: e-transfers can be slower than other platforms (0-1 days) and there are no other options like Wires for higher limits
  • Some Features Restricted: Canadians can not use the lending/borrowing feature, futures or margin as of Feb 3, 2022
  • User Interface: The app can be very confusing to navigate and the layout is not very intuitive
Crypto.com Exchange

About Crypto.com

Crypto.com was founded in 2016 and is available in 90+ countries. Worldwide, they have over 50 million users, 4000 employees and are becoming a top crypto exchange. They also have big partnerships with companies like Visa, the UFC, Formula 1 and many more.

The company offers many features such as 200+ cryptocurrencies to trade, crypto credit cards, beginner and advanced trading, their own token called CRO and much more.

Some Stats:

  • Over 50 million users worldwide
  • Available in 90+ countries
  • 4000+ employees
  • Sponsorships with UFC, Visa, Formula1 and many more
  • Paid $700m to rename the Staples Center to Crypto.com Arena

User Interface

  • Mobile App

  • ExCHANGE

Fees & Spread

Crypto.com advertises "crypto at true cost" but in reality you should watch out for hidden fees in the spread. The total BTC purchase fee was 1.68% (9th overall). The total BTC selling fee was 1.41% (7th overall) and the BTC spread was 3.11% (16th overall) when we tested 18 platforms.

There are significantly cheaper platforms for Canadians to buy crypto like NDAX (0.49% total purchase fee), VirgoCX (0.66%) and Newton (0.69%).

More Information

We tested 18 Canadian cryptocurrency exchanges at the same time to compare the true fees. This data was collected on Mar 2, 2022 at 4:41pm and is subject to change since spreads and prices change daily.

  • Total BTC Purchase Fee = CAD Deposit Fee + Trading Fee + Reference Price Difference
  • Total BTC Selling Fee = CAD Withdrawal Fee + Trading Fee + Reference Price Difference

You can compare all platforms from the price test on this page

Crypto.com Fees

Amount

*Total BTC Purchase Fee

1.68% (9th place)

*Total BTC Selling Fee

1.41% (7th place)

Trading Fee

Free

Recurring Buys

Free for e-transfers, 3.50% for credit card

CAD Deposits

Free up to 3.50%

CAD Withdrawals

Free

BTC Withdrawal Fee

0.0006 BTC

Price Test & Spread

Price Test (On Mar 2, 2022)

Prices

BTC Spread

3.11% (16th place)

BTC Buy Price

$56,710

BTC Sell Price

$55,000

Ref. Price Difference

Buy: +1.68%

Sell: -1.41%

Reference Price (Google)

$55,774

Deposit & Withdrawals

Crypto.com offers free Interac E-Transfers but it can be slower than other platforms taking 0-2 days. Usually, the first deposit will take longer to process. Subsequent transfers will typically be under an hour but can still take longer in some cases. 

Canadians also have the option to set up Euros in their fiat wallet.

CAD Deposit Methods

Type

Fee

Time

Limits (24 hours)

Interac e-Transfer

Free

0-2 Days

Min $20 - Max $10,000

Credit / Debit Card

3.50%

Instant

Min $2 - Max $30,000 weekly

CAD Withdrawal Methods

Type

Fee

Time

Limits (24 hours)

Interac e-Transfer

Free

0-2 Days

Min $100 - Max $25,000

Crypto Withdrawal Fees

Type

Fee

Minimum Withdrawal

Bitcoin

0.0006 BTC

0.0012 BTC

Ethereum

0.005 ETH

0.01 ETH

USDC

25 USDC

50 USDC

XLM

0.1 XLM

200 XLM

What Can You Do On Crypto.com?

List of Features:

  • iOS and Android app
  • 200+ Cryptocurrencies
  • Instant Buy and Sell
  • Exchange (Pro Platform and separate app)
  • Recurring Purchases
  • Crypto Earn
  • Metal Visa Cards
  • CRO (their own native token)
  • NFT Marketplace
  • 24/7 Customer Support
  • Supercharger
  • DeFi Wallet (separate app)
  • Referral Program
  • And More

1. iOS and Android App

Crypto.com is a mobile-only app available on iOS and Google Play. All trades are market orders and the user-interface can be a little tricky to navigate. There is a web version available for the Crypto.com Exchange which is their professional platform.

2. Trading Interface

  • Market Orders
  • Recurring Buys
  • Exchange

3. 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 Canadians cannot access margin, futures or lending/borrowing features on the exchange at this time.

4. Recurring Buy

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 $70 CAD.

Payment methods include fiat, crypto or credit card and you can customize the frequency (daily, weekly, bi-weekly, monthly) and day of the week.

5. Crypto Earn

Crypto.com Earn lets you put your crypto to work and start earning interest. Crypto.com is able to pay you rewards from income that they make from their various products and services. Here are some more details:

  • 50+ coins available
  • Rewards from 0.50%-12.50% p.a. (most of them are around 1%-3%)
  • Receive rewards every 7 days
  • 3 Levels: Flexible (withdraw anytime), 1 month and 3 month terms
  • Rose Gold, Icy White or Obsidian cardholders get a 2% CRO bonus

You can compare interest rates on other platforms that let you earn rewards or stake such as Kraken, KuCoin, NDAX and more.

6. SuperCharger

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.

7. Visa Cards

Crypto.com 2 Ruby Steel Card
Crypto.com Royal Indigo and Jade Green Card
crypto.com card frosted rose gold and icy white
Crypto.com Obsidian card

One of their main features is the prepaid crypto credit cards in partnership with Visa. At the time of this writing, they offer 5 different cards that offer up to 5% cash back in CRO. 

The rewards can also include other bonuses like free Netflix, Spotify and more. The downsides are you must stake $500-$500k worth of CRO to get the higher rewards.

8. Crypto.com NFT Marketplace

  • Buy, sell, and showcase NFTs
  • Brands like UFC, Aston Martin, and more
  • Join live drops or trade on the marketplace

9. Cronos Utility Token

Crypto.com has its own utility token called Cronos which powers many features on the platform. Owning Cronos can provide higher staking rewards, reduced transaction fees, better Visa rewards and more.

10. Crypto Pay

Earn rewards and extra cash back by buying gift cards, sending crypto to friends, or topping up your prepaid phone with crypto.

11. Referral Program

12. Other Crypto.com Features

  • Create watchlists
  • Missions
  • DeFi Wallet (separate app)
  • Light Mode/Dark Mode
  • Price Alerts
  • Research center
  • News from inside the app

Crypto.com Visa Cards

Compare all of Canada's crypto reward cards here or read my Crypto.com Visa Review here.

Security

Is Crypto.com Safe in Canada?

Yes, Crypto.com is considered a safe crypto exchange. They hold crypto in cold storage, have a $750 million insurance policy and offer various other security features like 2FA, address whitelisting and more.

⚠️ Although Crypto.com is considered safe, 44% of platforms we tested have had a hack or incident. We strongly recommend storing and protecting your crypto on a hardware wallet or a wallet where you own the private keys.

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
  • Bug bounty program - get paid to find hacks and vulnerabilities
  • Good reputation - partnerships with Visa, Formula 1, UFC and many more which adds legitimacy
  • See their security page for more

User Security Features

  • 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
  • Set up address whitelists
  • View live status in real-time

Customer Support

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.

Crypto.com Compared

Here at RankFi, we're tracking Canada's top cryptocurrency exchanges. You can compare all of them below to find the best one for you:

Name

Overall Rank

Coins

CAD Wallet?

Total BTC Purchase Fee

Spread (BTC)

Trading Fee

Website

1/18

70+

Yes

0.69%

1.34%

0%

NDAX

NDAX(#1 overall)

2/18

30+

Yes

0.49%

0.35%

0.20%

3/18

60+

Yes

0.66%

1.11%

0%

4/18

600+

No

1.60%

0.00%

0.10%

5/18

700+

No

2.82%

0.00%

0.10%

6/18

2

Yes

1.03%

2.26%

0%

7/18

200+

Yes

1.68%

3.11%

0%

8/18

150+

Yes

1.60%

0.05%

0.16% / 0.26%

9/18

40

Yes

2.94%

3.17%

1.50%

10/18

35+

Yes

1.24%

1.67%

0.50%

11/18

25+

Yes

1.99%

0.41%

1.50%

12/18

40

Yes

1.23

2.63%

0%

13/18

300+

No

3.42%

0.41%

0.41%

14/18

140+

No

4.54%

3.07%

0%

15/18

65+

No

N/A

0.05%

0.40% / 0.60%

16/18

16

Yes

2.51%

2.82%

0.20%

17/18

29

Yes

2.44%

4.19%

0%

Gate.io

Gate.io [banned]

N/A

1000+

No

2.92%

0.00%

0.20%

Best Alternatives

Here are the best crypto exchanges for Canadians right now. We assessed 18 platforms across 60 variables and 1080+ data points.  

Newton.co
  • 2022 Winner: Best Overall
  • Low fees, 70+ coins, great user interface
  • No advanced features, limited features overall
VirgoCX
  • Low all-around fees
  • Free crypto withdrawals for many coins
  • Beginner + Advanced Features
  • User interface can be better
NDAX.io
  • Lowest overall fees for Canadians (0.49% total BTC purchase fee)
  • Beginner + Advanced features + Staking
  • Only 30+ coins
  • Slightly higher withdrawal fees
Binance
  • Lowest spreads and fees if you fund your account with crypto
  • 600+ cryptocurrencies
  • Most features in the industry
  • Restricted in Ontario
  • Not beginner friendly
  • Low spreads and fees if you fund your account with crypto
  • 500+ cryptocurrencies
  • Trade anonymously (all you need is an email right now)
  • Not beginner friendly
Best Crypto Exchanges Canada

Find the best crypto exchanges in Canada with our free comparison tool


Crypto.com

Crypto.com

Get $25 Free When You Stake For A Ruby Card or Above

Best Crypto Exchanges Canada 2022

Newton.co

Top Overall

1. Newton

NDAX

Lowest Fees

2. NDAX

VirgoCX

Top Runner Up

3. VirgoCX