Crypto.com Review: Crypto platform «All in one»
If you are looking for an accessible, universal platform for trading cryptocurrency, Crypto.com might be just for you. The more Crypto.com coin (CRO) you stake, the more you will get from the exchange. Even without CRO bonuses, it is a good exchange with more than 60 cryptocurrencies, available in most of the World including the USA. Especially if you want a crypto debit card.
This exchange has a wide variety of cryptocurrencies and deposits with high-interest rates.
We want your money to work for you. And thus we choose the projects, which offer flexibility while minimizing collateral spending. If you are interested, you can sign up by following this link. The app can be downloaded here.
Crypto.com full review
This crypto exchange suits well those, who want to spend, exchange, store, and multiply cryptocurrencies, in particular Crypto.com coin. This universal exchange allows you to buy, sell and trade cryptocurrencies with accessible fees.
Pros
- Small fees
- Easy exchange
- Visa card with cashback bonuses
- Interest on crypto deposits
- Wide range of cryptocurrencies
- High security
Cons
- Трудная навигация по сайту
- Some coins are unavailable in certain regions
- Limited support
- Lack of educational resources
Main advantages
Crypto.com can offer much, including its own coin CRO. The more CRO you are ready to stake, the more bonuses you will get.
All in one market
It’s better to think about Crypto.com as a crypto bank, rather than an exchange or a broker. Of course, you can buy and sell cryptocurrencies on this site. You can swap them with other users through your DeFI wallet. Moreover, you can spend your crypto with a prepaid VISA card. You can get paid in crypto, put your money in a savings account, and take a loan in some countries.
Low fees
As you will see further, you can transfer your money to your Crypto.com account with a bank wire transfer without any fees. You can also buy and sell cryptocurrency at a fair price, which makes it one of the best exchanges on the market.
After the first 30 days, Crypto.com starts taking fees for in-app purchases, made with credit/debit card. If you are using a credit card, the card eminent can also take fees for advance payments, if you are using it for buying cryptocurrency.
Easy to convert money
As with most of the best cryptocurrency exchanges, Crypto.com allows to effortlessly convert fiat money to crypto. It accepts more than 20 fiat currencies including USD, GBP, and EUR. And you won’t have to pay large fees, although depending on the country in which you reside, you can be limited to certain currencies after signing up.
Cashback cards
Crypto.com offers five pre-paid Visa cards. They can be used anywhere where ordinary VISA cards are accepted, but you’ll need to top them up before using them.
As with other products, the more CRO you stake the bigger the benefits. The top Obsidian card gives 8% cashback and carries many additional bonuses. Although, you’ll have to stake 5,000,000 CRO to get it.
If you don’t have tons of cash to spare, no problem, Midnight Blue card does not require staking and gives 1% back from all purchases. And for staking 5,000 CRO, you’ll get 2% back with Ruby Steel card. There are no annual fees, and you’ll get a certain amount of free ATM withdrawals and worldwide transactions, depending on the card.
Savings accounts
Crypto.com is not just a place to buy Bitcoin and other cryptocurrencies. Account owners can also earn high interest from a deposit. The smallest interest rates on Crypto.com are higher than those of the best «real» banks. The maximum rate you can get is 14%, but as with a card you’ll need lots of CRO on staking.
Your interest rate depends on the term of the deposit, currency, and the amount of CRO on staking. The rate can be increased, if you:
- Stake more than 50,000 CRO. You’ll get more if you stake 500,000 CRO, but it’s a tremendous sum for most investors.
- Choose three months term. Flexible and one-month terms are also available, but three-month terms give greater interest.
- Invest in a stablecoin. Stablecoins are pegged to fiat currencies and goods. Thus you can invest in a stablecoin pegged to US Dollar. The reward will be greater, but the price of such currency won’t change.
Gift certificates and phone top-ups
Your Visa by Crypto.com is not the only way to spend crypto. You’ll also get cashback when you buy gift certificates from several popular brands. The current collection of brands includes Airbnb, Barnes & Noble, Macy’s, and many others. The amount of cashback depends on how much CRO you’ve staked and the name of the brand. You can also top-up the phone accounts of several operators.
How Crypto.com works
Initially called Monaco Technologies, the mission of Crypto.com from its inception was to speed up World’s transition to cryptocurrency. What started as a crypto payment system, became a popular crypto hub.
Crypto.com works both on a PC and a smartphone. Right after you signed up and verified, you can use it to trade crypto in two ways: through an exchange or through a DeFi wallet.
Exchange is one of the cheapest ways of converting fiat to crypto on the market. If you are using an exchange to trade cryptocurrencies, you will pay a small maker/taker fee. In contrast, DeFi wallet is a decentralized exchange that allows you кошелёк to swap cryptocurrencies with other users. If you choose this option, you will have full control over your keys and can choose to pay greater fees to have your transaction processed faster.
If you stake CRO on the exchange or in the app and leave them there for six and more months, you’ll start earning rewards and open other bonuses. Here are some of these bonuses:
| Service | Less than 5,000 CRO | 5,000 CRO — 49,999 CRO | 50,000 CRO — 499,999 CRO | 500,000 CRO — 4,999,999 CRO | 5,000,000 CRO |
|---|---|---|---|---|---|
| Visa card | Midnight Blue (1% cashback) | Ruby Steel (2% cashback plus Spotify bonuses). | Royal Indigo & Jade Green (3% cashback plus Spotify and Netflix bonuses). | Frosted Rose Gold & Icy White cards (5% cashback plus Spotify, Netflix, Expedia bonuses). | Obsidian card (8% cashback plus Spotify, Netflix, Expedia, Airbnb bonuses) |
| Savings | — | 2% added to your interest | Receive up to 4% more in interest | Receive up to 4% more in interest | Receive up to 4% more in interest |
| Trading | — | 10% — 20% discount | 40% — 60% discount | 70% — 80% discount | 90% discount |
Crypto.com has succeeded in making crypto more accessible. If you invest a considerable sum into CRO, you can profit from interest and price growth. But remember, that any investments are tied to risk, so approach suck decisions with care.
Will your money be safe with Crypto.com?
Users have access to all safety functions which come to be expected, such as 2FA authentification and anti-phishing measures. Users’ safety measures also include password, biometrics, email, phone, and verification through authenticator (for example Google).
Crypto.com stated that safety is intertwined into every aspect of their business, and their systems were tested by leading security firms. They also use Hacker One, a bug hunter bounty program, to search for vulnerabilities.
In addition to $360 million in insurance in case of a mistake or a hack, Crypto.com has become partners with Ledger to store users’ crypto in cold wallets. And one last thing about insurance, if you store money in dollars, it will be protected by FDIC like in a «normal» bank.
Crypto.com will suit you if:
- You want a crypto exchange with small fees and want to convert fiat to crypto more easily.
- You want to do your own banking: savings, spending, and investing in cryptocurrency.
- You want to invest in CRO long-term.