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Launched in 2016, Crypto.com continues to offer the best cryptocurrency investment services to global clients through its cutting-edge technology. It boasts over 100 million users across 90+ global countries. With over 350 crypto tokens and amazing reward offers, this exchange is worth investing with.
Our Crypto.com review below shares our unbiased opinion regarding this exchange. We tested its performance, features, and services to ensure you get the right information to help you make the best decision.
In This Guide
Why Crypto.com
Based on our analysis, Crypto.com is one of the best cryptocurrency exchanges for global clients. Its amazing features make us highly recommend it. However, we also discovered a few pitfalls we believe are worth noting. Here are the pros and cons of Crypto.com.
Crypto.com
✔Available 350+ cryptos
✔In-built DeFi wallet
Pros & Cons
Pros
- Lists over 350 cryptocurrencies, including popular options like Bitcoin, Ethereum, Litecoin, and more
- Has an in-built DeFi wallet
- Users have an opportunity to get up to 5% cashback on spending when using Crypto.com’s metal Visa cards
- Available for Android and iOS mobile devices
- Supports buying and selling of cryptocurrencies using over 20 fiat currencies
- Employs quality security measures to ensure users’ data and funds are free from unauthorized access
Cons
- The availability of learning resources can be improved
- There is no phone support
- Cryptocurrency withdrawals attract high charges
Cryptocurrencies Available
The cryptocurrency landscape is volatile, meaning that the price of digital assets tends to change rapidly. As professionals in this field, we advise you to consider diversifying your portfolio across diverse cryptos to mitigate the risk of investing in a single token.
Crypto.com helps you do so by listing over 350 cryptocurrencies. We explored these offerings using over 20 fiat currencies. Here are some of the popular cryptocurrencies you will find at Crypto.com.
- Bitcoin (BTC)
- Ethereum (ETF)
- Litecoin (LTC)
- Cardano (ADA)
- Ripple (XRP)
- Tether (USDT)
- Dogecoin (DOGE)
- Shiba Inu (SHIB)
- Solana (SOL)
- Polkadot (DOT)
One thing we like about Crypto.com is that it allows you to buy and sell cryptocurrencies and secure them in a digital wallet. You can also trade the tokens as CFDs and crypto futures.
Note: CFD trading carries inherent risks, and over 76% of retail traders lose money in this activity. This means that before engaging in crypto CFDs, understand how the trading method works. Plus, arm yourself with solid strategies to maximize your chances of executing successful trades.
Security
It is important to note that the cryptocurrency landscape is not regulated. Therefore, you must be keen when choosing a cryptocurrency exchange so you do not fall victim to scammers. Crypto.com prides itself on offering a secure investment platform for its users. This is evident in its ability to accommodate over 100 million global clients.
We explored the security measures employed by this exchange and noticed that it is highly encrypted. Crypto.com has a team of professionals who constantly monitor its platform and transactions to ensure your personal data remains free from unauthorized access. And if they notice any suspicious activity, you will be notified via email.
We also like that this exchange employs multifactor authentication. Plus, external addresses are whitelisted to ensure withdrawal protection. For users investing with fiat currencies, Crypto.com holds their funds in regulated custodian bank accounts. Once you make your purchase, the exchange has a DeFi wallet to secure your tokens. Read about crypto hacks here.
Note: We advise Crypto.com users to secure their trading accounts with strong passwords and online personal security practices and not to rely only on the exchange’s security. Keep in mind that crypto transactions on the Crypto.com exchange cannot be reversed, and once your account is breached. In this case, there are no chances of recovering the assets.
Fees
We were impressed by Crypto.com fees, which we believe are among the lowest in the industry. For instance, there are no deposit fees when transacting with cryptocurrencies. However, you will pay withdrawal charges, the amount of which depends on the token you are transferring.
Creating an investment account at this exchange is free, and there is no minimum deposit requirement. This means that users can start trading or investing in cryptos with as little as $1. We find Crypto.com a suitable option for low-budget traders.
When it comes to trading and investment costs, expect to incur maker and taker fees. For those venturing into spot and derivatives market, expect to incur trading fees from 0.075% and 0.034%, respectively. For CRO stakers, Crypto.com guarantees 0% maker fees if you stake at least 50,000 CROs. Those who stake at least 100,000 CRO will enjoy negative maker fees across all tiers.
Our exploration of this exchange revealed that trading fees are charged based on the cryptocurrency you trade or invest in. Therefore, we advise you to always confirm an asset’s fees and ensure they fit your budget before you open a position. Fortunately, Crypto.com is transparent with its charges. What you see is what you will incur.
Besides the charges above, expect to incur a $5 inactivity fees. This applies if your trading or investment account remains dormant for a period exceeding 12 months.
Payment Methods
With Crypto.com, you can transact using multiple payment methods. We noticed that the exchange supports fiat currencies, cryptocurrencies, Apple Pay, Google Pay, credit/debit cards, and bank transfer transactions. Note that the supported payment methods may be limited to specific regions. Therefore, always confirm whether your preferred option is supported before making a commitment.
We discovered that Crypto.com has its own Visa card for making deposits and withdrawals. The best element about this prepaid card is that it gives users an opportunity to earn up to 5% cashback on all spending. The card comes in various forms, and to apply for one, you must stake or lock up CRO tokens for at least 180 days.
Investors and traders can also choose the Crypto.com Pay method. It allows you to earn up to 10% back in CRO. This is whether you use it on Crypto.com apps or ERC-20 wallets.
When it comes to fiat currencies, there are over 20 options for transactions. You can use the fiats to deposit and withdraw money to and from your bank account. Supported fiats can also buy cryptocurrencies and top up Crypto.com Visa cards.
Here are some of the popular fiat currencies at Crypto.com.
- Australian Dollar (AUD)
- Canadian Dollar (CAD)
- Euro (EUR)
- British Pound (GBP)
- US Dollar (USD)
- Brazilian Real (BRL)
- Turkish Lira (TRY)
- Singapore Dollar (SGD)
Customer Service
Crypto.com’s support service has gained many negative reviews on Trustpilot. To confirm this element, we tested the team responsiveness. It operates 24/7 via email and live chat. Its response rate via live chat was impressive, and we got quality assistance. However, we noticed response delays in email communication, which left us a bit disappointed. The good news is that Crypto.com’s team is loaded with professionals with vast knowledge to ensure you get relevant solutions.
Crypto.com also has a comprehensive learning section where you can get information regarding some of the burning issues in cryptocurrency investments. Moreover, you can contact them via community or social media platforms like LinkedIn, Instagram, Facebook, X, and more.
How to Open a Crypto.com Account
Our experience creating cryptocurrency trading/investment accounts at Crypto.com was straightforward. We spent a few minutes in this process, and got our accounts fully activated for trade.
If you are a beginner considering Crypto.com for your cryptocurrency investments, here are the proper procedures to follow to open an account. Ensure you provide accurate details to avoid encountering challenges once you are invested in the exchange.
Step 1: Visit Crypo.com’s website
Step 2: Register an account
Step 3: Verify your identity
Step 4: Deposit funds
Step 5: Trade/invest
Start by visiting Crypto.com’s official website. Read and understand the terms of service on the site. You should also install its mobile app to easily manage your activities, especially when you step away from your investment station.
Click the “Sign Up” button on Crypto.com’s homepage to begin the account registration procedure. Share your email and password before proceeding to the next step. The exchange will send you a unique code via email, which you will provide to verify your email and activate your account.
Before having your investment account fully activated, Crypto.com will require you to participate in the Know-Your-Customer verification procedure. You will share a copy of your original ID card and a selfie photo. This process might take up to 48 hours to complete, and Crypto.com will send you an email notification to confirm whether your account is ready for investment.
At this point, you are free to deposit funds at Crypto.com and begin your cryptocurrency ventures. Remember, the exchange has no minimum deposit requirement. Plus, it accepts multiple payment methods and over 20 fiat currencies. Choose the most convenient option for you and deposit funds according to your budget to explore the cryptocurrency landscape.
The exchange will redirect you to its listed securities once it confirms your deposit. Choose the assets you have conducted research on and are familiar with and open a position. Remember, the cryptocurrency market is highly volatile. Only invest with funds you are comfortable losing. Moreover, apply risk management controls and diversify your portfolio. This reduces the risks of investing in a single crypto and the chances of potentially losing a lot of money.
Final Thoughts
Overall, we find Crypto.com to be a legitimate and secure cryptocurrency exchange. With 350+ digital tokens, the exchange allows users to easily diversify their portfolios across the cryptocurrency market. Moreover, Crypto.com is a home for NFTs and supports automated trading. Plus, it features on-chain staking, whereby you can earn up to 17.5% for staking with them.
Undoubtedly, Crypto.com has quality features that will maximize the experience of any cryptocurrency trader or investor. However, do not go all in with your funds without conducting thorough market research and analyzing an asset. Start small, be patient, and be open to learning if you want to start experiencing success in the long run.
Invezty Rating:
✔Available 350+ cryptos
✔In-built DeFi wallet
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Risk Warning
Invezty is not an investment advisor. Please do your own research before making any investment decisions.
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