Crypto.com

Highlights

Summary

If you want the quick review, Crypto.com is a safe and regulated platform with over 250+ coins. In addition, they offer many services and make it very easy to fund your account with fiat currency. However, if you're concerned about fees, Crypto.com is not transparent with their pricing and has high fees hidden within the spread.

While Crypto.com is a safe platform with a wide selection of cryptocurrencies, you shouldn't use it if you want the best rates when buying Bitcoin and altcoins. From our tests, the all-in fee to buy Bitcoin was 1.68% and the spread was 3.11%. In addition, there are hundreds of online reviews commenting about the high spreads and misleading prices.

Key Benefits & Features

Crypto.com has a huge ecosystem of products and services. It includes a cryptocurrency exchange, DeFi wallet, Visa Cards, and much more. We'll look at everything but first, here are the core features to consider when choosing this platform:

Crypto.com Walkthrough

1. Trading Interface

The Crypto.com App is meant for beginners but it can be confusing to navigate. When it comes to trading, it is commission-free and users can set market orders, recurring buys, or log in to the Crypto.com Exchange for professional trading.

2. Crypto.com Exchange (Advanced Trading)

The Crypto.com Exchange is a pro trading platform which is separate from the Crypto.com mobile app. You can login with the same credentials but you will have access to a live order book, charting tools and other advanced trading features via TradingView.

You can also access other features like The Syndicate (token fundraising platform), Trading Arena (battles and competitions), a referral program and more.

In addition, the Crypto.com Exchange has its own trading fees which start at 0.075%. It also offers margin, futures, and lending/borrowing however, those features are restricted in various markets like Canada so you need to check the availability in your region. Here are the other features which make the Exchange useful:

3. Crypto.com Earn

Put your crypto to work and start earning interest. The way it works is Crypto.com pays you rewards from income that they make from their other 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, and many others.

4. Metal Visa Cards

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 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. 

5. Recurring Buys

Dollar cost average your way into the market with automatic, scheduled purchases. It's available for a handful of cryptocurrencies and payment methods include fiat, crypto or credit card. You can customize the day of the week and frequency (daily, weekly, bi-weekly, monthly).

6. Cronos (Utility Token)

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

7. NFT Marketplace

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

8. 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 Cronos into the pool to start earning a specific token. Then, you can withdraw at any time. You will receive rewards in your account daily.

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 free NFTs, merchandise, experiences, and even a CRO mystery box. One of the experiences includes a PSG stadium tour for 3,000 diamonds.

10. Customer Support

You can easily contact Crypto.com customer support from inside the mobile app. They are available 24/7 and it says 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.

11. Additional Features:

Other things you can find in Crypto.com ecosystem include:

• Referral Program
• DeFi Wallet (separate app)
• Crypto Pay
• Lending/Borrowing (Crypto.com Exchange)
• Research Center
• And more

Security

With the information available, Crypto.com is considered a safe crypto exchange. They hold crypto in cold storage, have a $750 million insurance policy and offer 2FA, address whitelisting and many other security features.

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
• KYC required (must prove identity to trade)
• 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

Although Crypto.com is safe, over 50% of platforms we tested have had hacks or incidents in the past. We strongly recommend storing and protecting your crypto on a non-custodial wallet where you own the private keys. Preferably, a reputable hardware wallet.

Deposit & Withdrawals

Crypto.com Review According to Redditors

I headed to Reddit, Trust Pilot, and other online review sites to see what real users have to say. After reading dozens of reviews, people believe it's a secure platform and it's very easy to buy/sell crypto with fiat currency. When looking at the concerns, there are hundreds of complaints about misleading prices and high fees hidden in the spread.

Overall, the mobile app reviews are impressive. It has a 4.5 star rating on the App Store with 148,000 reviews. Google Play is even better with 4.5 star rating across 465,000 reviews. Here are some of the useful reviews I collected:

Should You Use Crypto.com?

Crypto.com is a safe and regulated crypto exchange with over 250+ cryptocurrencies. It's also easy to fund your account and it has many other features as well. However, the online reviews and my own tests showed it's a very expensive platform. They are not transparent with their pricing and hide fees in the spread. Here are the key points to consider if you're thinking about using Crypto.com: