Let’s start with an overview of the Crypto.com exchange.
What is crypto.com?
Crypto.com is undoubtedly one of the best-known names in crypto. It is a centralized cryptocurrency exchange platform. Data aggregator CoinMarketCap ranks Crypto.com 9th among spot crypto exchange platforms, scoring 7.1/10.
If we were to describe Crypto.com in a few figures, we could mention :
10 million active users
Daily transaction volume of around 4.5 billion euros (according to CoinMarketCap data)
More than 4,000 employees
More than 250 listed cryptocurrencies
Present in 90 countries worldwide
Website in 14 languages
Since its inception, the Crypto.com exchange has developed a range of crypto products and services, including:
Buying and trading cryptos and NFTs
Advanced trading options
Instant cryptocurrency lending
Paid crypto wallet
Crypto payments with Crypto.com Visa card
DeFi services (Wallet, Earn, Swap)
A feature for businesses wishing to accept crypto payments
The Crypto.com platform was launched in 2019. At the time, it was known as Monaco. The company adopted the name Crypto.com in July 2019. One of its founders, Kris Marszalek, now heads the company, which is based in Singapore.
Crypto.com defines its mission as follows: “Accelerating the world’s transition to cryptocurrency”. The company is firmly focused on the future, and on the new generation of the Internet (Web 3.0) made possible by cryptocurrencies.
« Web 3.0 will be fairer, more equitable, belonging to builders, creators, and users. You. It’s your fundamental right to control your money, data, and identity. ».
Crypto.com has developed a complete ecosystem to meet all user needs. Let’s discover the main elements of the Crypto.com ecosystem.
Crypto trading is the heart of Crypto.com. The exchange allows you to buy a wide range of cryptos, from Bitcoin to over 250 other cryptocurrencies. Cryptos can be bought and sold in over 20 fiat currencies.
Crypto trading at real prices is possible using the Crypto.com app, available on Google Play Store and the App Store. The app’s ease of use is one of Crypto.com’s strong points.
For more experienced traders, Crypto.com has also developed a more comprehensive interface: Crypto.com Exchange. This application is available on mobile and desktop, as well as from a web browser. This advanced (and more difficult to learn to use) platform offers more advanced features such as :
Perpetual contracts trading with leverage up to 100x
Crypto.com has obviously thought about “hodlers”, i.e. people who want to hold on to their cryptocurrencies over the medium to long term. As such, the exchange offers the equivalent of the savings accounts offered by traditional banks. With one (significant) difference in interest rates!
The rates offered depend on the asset you’re saving. For example, at the time of writing, here are the (maximum) interest rates Crypto.com offers for some major cryptos:
Dogecoin : 5 %
Bitcoin : 6 %
Ethereum : 6 %
Solana : 6,5 %
Terra : 7 %
Polygon : 14 %
Polkadot : 14,5 %
Crypto.com Pay allows you to make instant crypto payments without gas fees. In particular, you can:
Shop at leading online retailers
Buy gift cards
Top up your cell phone plan
Send free cryptos to your friends
Spending with Crypto.com Pay earns you up to 10% in CRO token rewards.
Crypto.org Chain is designed as the next-generation public blockchain to enable payments between individuals and businesses. The Crypto.org blockchain highlights are:
Security: a resilient and secure blockchain
Instant and low-cost: instant transaction confirmation with minimal costs
Permission-free: an open-source blockchain that welcomes any new validator or code contributor
Sustainable: a negative carbon footprint
Cronos (CRO), the Crypto.com token
The Crypto.com platform has also built its own cryptocurrency. Initially known as Crypto.com Coin, the token has now changed its name to Cronos. The name change was intended to reflect the coin’s decentralization and the incredible growth of the Cronos ecosystem. Cronos is the utility token for the Crypto.org Chain and Cronos EVM Chain blockchains.
Cronos holders have access to advantages on the exchange. These include :
Pay transaction fees in Cronos
Benefit from reduced trading fees
Receive cashback on Metal Visa Card purchases
Metal Visa Card
Crypto.com wants to make everyday crypto spending easier. That’s why the exchange offers its Crypto.com Visa card.
The Metal Visa Card from Crypto.com is a prepaid card with no annual fee. There are several ways to top it up:
By transferring fiat currency from your fiat Crypto.com wallet
By transferring cryptos from your Crypto.com wallet
By transfer from a bank account
With another bank card (debit or credit)
The exchange offers different levels of cards:
Frosted Rose Gold & Icy White
Royal Indigo & Jade Green
Each card level corresponds to different fees, benefits and usage limits.
Among the advantages of the Crypto.com Visa Card is the possibility of receiving cashback. In fact, Crypto.com offers you up to 8% cashback on all your Metal Visa Card spending, paid out in CRO tokens.
Crypto.com also offers cryptocurrency loans. What is a cryptocurrency loan? It’s an alternative form of borrowing to the traditional banking system. In concrete terms, you need to be in possession of cryptos that you can provide as collateral to Crypto.com. In exchange, the platform makes cash available to you in cryptos (or, more precisely, in stablecoins).
Here are some of the features of the crypto loan at Crypto.com:
Collateral accepted in 25 cryptos including Bitcoin, Ethereum, Cronos, etc.
Loan granted in 4 stablecoins
Loan amount: between $100 and $1,000,000
LTV (loan-to-value ratio): 50%. This means that for every €1,000 of collateral value, you can borrow €500 of stablecoin value.
Interest rate (APR): between 8% and 12
Set-up fees: none
Free repayment within the term of the loan: no payment schedule imposed, no early repayment charges
Crypto.com launchpad is a service that enables project managers to launch a new token on the market. If you wish to launch a new project, you can apply to Launchpad to benefit from the guidance and support of Crypto.com’s experts, in particular for:
The Crypto.com launchpad is an invaluable asset for giving your project the exposure and liquidity it needs to succeed.
How do I trade crypto on Crypto.com?
Find out how to trade crypto on Crypto.com.
Open an account
As always, you need to start by creating a Crypto.com account. To do this, first download the crypto.com app or visit the Crypto.com website. When opening your account, you’ll need to enter a few basic details: surname, first name, date of birth, nationality, telephone number, e-mail address and password. You will then be asked to verify your account, first by e-mail and then by SMS.
Note that at this stage, you don’t yet have access to the Crypto.com interface. This can be annoying, as you can’t familiarize yourself with the application or check that it meets your expectations before going any further.
You must then complete your profile to answer the KYC (Know Your Customer) procedure. To verify your identity, you need to provide:
Your complete identity (surname, first name)
Identification (passport, ID card or driver’s license)
A selfie of yourself holding a piece of paper on which you have written the current date and “Crypto.com”.
The verification process takes an average of 24 hours. Only after your account has been validated will you finally have access to the Crypto.com application.
Secure your account
We recommend that you take a few minutes to configure your account security settings. In particular, it is important to activate the following two features:
Two-factor authentication. This feature allows you to better secure your account and transactions.
Anti-phishing code. This code will be used to authenticate communications from Crypto.com.
Deposit funds or buy direct
You can choose to fund your account before trading, or buy cryptos directly by credit card.
Depositing funds in fiat or crypto
You can fund your Crypto.com account by depositing funds. To do so, go to the home page and click on the “Transfer” button, then on “Deposit”. You have two options:
If you want to fund your account in euros (or other fiat currency), you can make a bank transfer to your Crypto.com account.
If you want to fund your account with cryptos you already own, you’ll need to transfer them to your Crypto.com wallet address.
Depositing funds can take some time, depending on the method you choose. That’s why it’s a good idea to fund your account in advance. That way, once your account is funded, you’re ready to trade as soon as an opportunity arises. This means you don’t have to be reactive, and you don’t have to pay for instant purchases by credit card.
Buying cryptos online
Haven’t had time to deposit funds into your account and don’t want to miss out on a great trading opportunity? Don’t worry, Crypto.com also offers an instant crypto buying service.
Beware, buying cryptos by credit card is more expensive. If possible, consider depositing funds in advance.
On the Crypto.com application, click on the central button (logo) and then on “Buy”. Then select :
Your means of payment (credit card, crypto wallet or fiat wallet)
A summary (including any charges) is displayed, then you can validate the transaction.
What are the fees on Crypto.com?
There are various fees that may apply depending on your activity on an exchange. Let’s take a look at them.
Crypto.com does not charge any deposit fees. So you can deposit cryptos into your Crypto.com account for free.
Withdrawal fees on Crypto.com depend on the cryptocurrency in question. Fees are expressed as a fixed amount. For example, 0.0004 BTC is charged for Bitcoin withdrawals. At the current rate, this corresponds to a value of around €17. Ethereum’s fees currently vary between €1.5 and €25, depending on the chosen blockchain. Fees are, therefore, relatively high, especially if you wish to withdraw small amounts.
Regarding transaction fees, new Crypto.com registrants benefit from 30 days of free crypto card purchases. This allows new customers to buy cryptos without paying any fees. Beyond these 30 days, crypto card purchase fees amount to 3.5%.
On Crypto.com Exchange, trading fees are charged for all transactions. By default, the trading fee on Crypto.com is 0.4% for both Maker and Taker orders. As a reminder, a Taker order is executed immediately at the market price. On the other hand, a Taker order, remains in the order book until the defined price (buy or sell) is reached.
There are also two ways to reduce trading costs.
Reduce trading costs with CRO
It’s possible to reduce your trading fees on Crypto.com with Cronos (formerly Crypto.com Coin) staking. When you pay your trading fees in Cronos (CRO), you benefit from a discount.
The percentage discount obtained depends on the quantity of CRO tokens in staking
Less than 5,000 CRO: no discount
Over 5,000 CRO: 10% discount
Over 10,000 CRO: 20% discount
Over 50,000 CRO: 40% discount
Over 100,000 CRO: 60% discount
Over 500,000 CRO: 70% discount
Over 1,000,000 CRO: 80% discount
Over 5,000,000 CRO: 90% discount
Over 50,000,000 CRO: 100% discount
Reduce trading costs with account levels
Depending on your 30-day trading volume, you’ll be assigned an account level. The first level corresponds to a trading volume of less than $25,000. In total, Crypto.com offers 9 account levels. The higher the account level, the lower the trading fees.
For example, standard fees (without staking) are 0.4% at level 1. This rises to 0.35% at level 2, then 0.25% at level 3, and so on. At level 9, the fee is just 0.04%.
Regulation is an important point when it comes to choosing a crypto exchange and entrusting it with your money. In this respect, Crypto.com is in a good position.
Indeed, Crypto.com is a company legally registered in Europe (in Malta). It is regulated by the Malta Financial Services Authority.
How safe is the Crypto.com exchange?
In addition to regulatory compliance, it’s essential to consider the security features put in place by a trading platform.
Is Crypto.com safe? This cryptocurrency describes itself as the world’s most secure cryptocurrency trading platform.The following security features have been put in place:
Type 1 SOC2 compliance
PCI:DSS 3.2.1 Level 1 compliance
Singapore Data Protection Certificate
At Crypto.com, all data is stored offline (“cold storage”), guaranteeing the highest protection against cyber-attacks. Moreover, accounts benefit from the added security of two-factor authentication (2FA), significantly reducing the risk of fraud. In addition, all transactions are monitored by a dedicated team to detect suspicious transactions.
Lack of transparency regarding fees (no dedicated page on the site)
Where is Crypto.com based?
The Crypto.com exchange platform is headquartered in Singapore. The exchange is regulated in the USA and has over 10 million users worldwide and 4,000 employees.
Is Crypto.com reliable?
The Crypto.com exchange is one of the largest crypto platforms in the world. It enjoys an excellent reputation for security. In fact, the exchange is regulated in several places, including Malta, Europe and the United States. The exchange also has insurance coverage and is certified by Bureau Veritas.
Is Crypto.com a bank?
No. Crypto.com is a centralized crypto exchange. It offers services for buying, selling and trading cryptos. But the platform goes further than just crypto trading. The Crypto.com ecosystem includes staking, a bank card, a blockchain, a token and more.
Which blockchain does Crypto.com use?
The Crypto.com exchange has developed its own blockchain and has a native token, the CRO. This utility token confers trading, financial and payment advantages on its users.
How does the Crypto.com card work?
The Crypto.com exchange offers a bank card for everyday purchases. This card automatically converts cryptos into fiat money when making payments.