Crypto.com Review: Key Features in 2024

In this 2024 Crypto.com review, I’ll offer a comprehensive look at this cryptocurrency company. Here’s what I’ll cover:

• What is crypto.com?
• Background and history of the exchange
• Features/services they offer
• User experience
• Security measures
• How to use the platform

Whether you’re a seasoned crypto trader or you just started, this review will provide useful insights into Crypto.com.

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Why Trust Us

CryptoManiaks stands as your trusted companion for an insightful Crypto.com review. Our dedicated team delves into the platform’s features, security measures, fees, and overall user experience with precision and transparency.

Bringing practical experiences as active users into the spotlight, we offer insights into Crypto.com’s strengths and weaknesses. Our commitment to delivering accurate and current information empowers you, whether you’re just stepping into the crypto space or are a seasoned investor.

Count on CryptoManiaks to be your go-to source for an unbiased Crypto.com review.

Key Takeaways

• Crypto.com offers a diverse range of over 250 cryptocurrencies
• The platform ensures transparent and competitive fees, with potential discounts for users holding and using Crypto.com’s native token, CRO
• Supporting hardware wallets enhances the security of users’ crypto holdings
• Crypto.com’s Visa cards enable users to spend their cryptocurrencies in everyday transactions
• The platform is designed with a user-friendly interface, making navigation simple
• Crypto.com simplifies the purchase of NFTs using either fiat currency or specific cryptocurrencies

Pros and Cons of Crypto.com

Check out the pros and cons of Crypto.com below:

Exploring Crypto.com: Brief Overview

Crypto.com site is among some of the top-rated centralized crypto exchanges. It offers a wide array of services designed to empower users in the realm of digital finance.

Crypto.com: Background Information

Crypto.com business was founded in 2016 with the aim to make cryptocurrency investing accessible to all. It was co-founded by Kris Marszalek, Gary Or, and Rafael Melo, with Kris Marszalek leading the way as CEO.

Today, Crypto.com stands as a prominent player in the cryptocurrency industry. It boasts a large user base, ranks high in trading volume, and offers various features, setting it apart from competitors. People use it to achieve their trading goals and store crypto savings.

Crypto.com has achieved remarkable milestones. For example, it became the official cryptocurrency sponsor of Formula 1. It launched its first global brand campaign “Fortune Favours the Brave”. It features Academy Award winner Matt Damon.

This April, Crypto.com and the technology tech giant Samsung had a collaboration. It became the first cryptocurrency platform to offer a “tailored experience” for Galaxy Z Fold devices.

In the following sections, I will delve deeper into Crypto.com’s journey. I will also share insights on user experience and security measures.

Crypto.com: Features, Products, and Services

At its core, Crypto.com is on a mission to increase the global adoption of cryptocurrencies and help people manage their crypto holdings. To achieve this, the platform provides a comprehensive suite of services, including:

Layout and ease of use

Crypto.com is user-friendly. It’s easy to navigate, whether you’re new or experienced. The design keeps things simple.

Available trading pairs

Crypto.com has 250+ trading pairs, including popular and unique cryptos. This variety lets you explore different trading options.

Order types available

You can use market, limit, and stop orders. This exchange is flexible and suitable for traders of all levels.

Lending/borrowing features

Crypto.com offers lending with interest rates as high as 14.5%. Know that staking periods vary, and there might be some limitations.

Supported wallets

Crypto.com supports various crypto wallets, including its own. It works with 250+ currencies, covering popular and new altcoins. You may have to check for some location restrictions.

Supported coins

The top crypto assets available on the platform include: BTC, ETH, USDT, USDC, BNB, BUSD, ADA, XRP, SOL, DOGE, MATIC, DAI, SHIB. You will also get access to altcoin many other ERC20 tokens and the usual trades.

User profiles

You can connect with other users through profiles, creating a sense of community.

NFT support

Crypto.com supports NFT trading and minting, making it easy to explore the NFT world.

Trading bots

The platform offers trading bots for automation and efficiency in trading strategies.

Crypto cards

Crypto.com’s cards allow you to spend crypto in real-world transactions. This is a milestone in merging crypto and traditional finance. However, these are not credit cards you’re used to in regular circumstances.

Crypto.com Pay

Crypto.com Pay is a product that simplifies crypto payments, making it easy to use crypto in everyday life.

User Experience

Functionality

One of the critical aspects of any cryptocurrency platform is its functionality. Crypto.com shines in this regard, offering customers a smooth and hassle-free experience. The platform operates seamlessly. Users can navigate it without encountering any significant issues or lags.

Registration process

Crypto.com has a straightforward and user-friendly registration process. It’s designed to make it easy for newcomers to join the platform. There are straightforward Anti-Money Laundering (AML) procedures in place. Registering on Crypto.com is a relatively easy process, which is ideal for beginners. Here’s how to get started:

1. Download the Crypto.com app: Head to the Google Play Store or Apple Store and download the Crypto.com app
2. Registration: Start by providing your email and selecting a password
3. Verification: Crypto.com verifies new accounts to ensure the safety and integrity. You’ll provide your name, a photo of your government-issued ID, and a selfie for identity verification
4. Link a payment method: Next, you’ll need to link a payment method, such as a bank account or credit card
5. KYC verification (United States): If you’re in the United States and linking a bank account, you’ll need to enter Know Your Customer (KYC) details. This step includes confirming your name, contact information, and Social Security number
6. Fully verified access: After KYC verification, one has full access to your Crypto.com account. You can deposit funds and make withdrawals within its daily and monthly limits

The entire process, including KYC verification, takes less than 10 minutes. If you’re a quick typist and have your ID ready, you can likely complete it in only five minutes or less.

Educational resources available

Crypto.com goes the extra mile by providing a range of educational resources. These include tools like informative blogs and educational videos. They help simplify the complex concepts associated with cryptocurrencies.

Is Crypto.com Safe?

Crypto.com has implemented a robust set of features to safeguard user funds and data. These features include multi-factor authentication (MFA) and whitelisting. Additionally, a strong password is encouraged as part of user security practices.

Methods Used to Secure User Funds and Data

Crypto.com employs various methods to ensure the safety of user funds and data. For instance, customer deposits are stored offline in cold storage. This minimizes the risk of hacks and losses.

History of Security Breaches

A breach incident that unfolded in January 2022. The exchange reported the unauthorized withdrawal. 4,836.26 ETH, 443.93 BTC, and approximately US$66,200 in other currencies were gone from user accounts. It amounted to an estimated loss of $33.8 million based on the market values. The transactions were being authorized without the two-factor authentication (2FA) control.

Crypto.com implemented an extra layer of protection after this incident. Now a new whitelisted withdrawal address must be registered within 24 hours before the first withdrawal.

Overview of Regulatory Framework

Crypto.com adheres to a regulatory framework. It includes Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements. These protocols are in place to verify user identities and prevent illegal activities.

Investors need to provide personal information, and contact details during the KYC verification process. In some cases, this exchange also needs a Social Security Number.

Licenses or Certifications Obtained

Crypto.com has taken proactive steps to ensure regulatory compliance. It has made efforts to get the necessary licenses and certifications to operate legally in various regions.

In June 2023, it received its Major Payment Institution (MPI) license from the Monetary Authority of Singapore. This enables their Digital Payment Token (DPT) services. This announcement follows Crypto.com receiving its in-principle approval from MAS in June 2022.

Crypto.com Fees And Lending Rates

Crypto.com offers a transparent fee structure for its services. Here’s a detailed breakdown:

Fees you’ll see on Crypto.com

Supported Countries

Crypto.com extends its services to users in more than 100 countries across the globe. Crypto.com expands over regions like the US, the UK, Europe, the Middle East, Australia, Asia, South America, and Africa.

Service availability varies by country, and some countries have restrictions in place. Remember, some people use a VPN to register on crypto exchanges. Unfortunately, this can put you at risk, as VPNs have limited security features.

In particular, users from some countries and regions are restricted from using the Crypto.com App. Here’s the list of all accepted countries.

Deposit and Withdrawal Methods

To buy, sell, or hold cryptocurrencies, you need to understand how deposits and withdrawals work. Here’s my easy guide to help you navigate these processes:

Fees

Crypto.com offers a transparent fee structure tailored to suit its users. Let’s break down the fees you may encounter:

• Trading fees: Crypto.com’s trading fees are determined by your 30-day trading volume, falling into nine different tiers. As your trading volume increases, so do the discounts you receive. The platform charges two types of trading fees – taker fees and maker fees
• Deposit fees: The good news is that Crypto.com does not impose any deposit fees for cryptocurrency assets. Not even USD fiat currency deposits via ACH or wire transfer. US users must meet specific criteria to use the fiat wallet
• Crypto.com withdrawal fee: This applies when you decide to withdraw your cryptocurrencies from Crypto.com. These fees can vary based on factors such as the withdrawal network and the specific crypto you’re withdrawing. Always check the website for the most up-to-date information on withdrawal fees
• Purchase fees: The exchange may charge admin fees for certain transactions. These fees will be displayed for your review before you finalize a transaction

For new users, Crypto.com offers a special perk: zero fees for crypto purchases made with a credit or debit card during the first 7 days! This offer is available to eligible users who reside in specific jurisdictions. They also need to pass the exchange’s KYC verification.

Crypto.com provides access to a diverse range of cryptocurrencies, making it a versatile platform. You can trade, hold, and invest in different cryptos. It includes popular options such as Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Dogecoin (DOGE), and many more.

Deposit/Withdrawal Methods

Crypto.com supports various deposit and withdrawal methods to cater to user preferences:

Deposit Methods:

• Bank transfers: Easily fund your Crypto.com account through bank transfers. It allows you to convert fiat currency into cryptocurrency
• Cryptocurrency transfers: Deposit supported cryptocurrencies directly from external wallets or exchanges
• Credit/Debit card: Depending on your region, you may have the option to buy cryptocurrencies with a credit or debit card

Withdrawal Methods:

• Bank transfers: Initiate withdrawals to your linked bank account to convert your crypto into fiat currency
• Cryptocurrency transfers: Withdraw supported cryptocurrencies to external wallets or exchanges
• Crypto.com card: If you have a Crypto.com card, you can use it to make purchases or withdraw funds at ATMs

Limitations:

While Crypto.com offers flexibility in managing your assets, it’s important to be aware of any limitations that may apply. For example, there are daily and monthly withdrawal limits. These limitations can vary based on your user profile and verification level.

Always review the terms and conditions and the fee schedule on Crypto.com’s official website. Stay informed about the latest details like deposit and withdrawal methods, fees, etc.

Customer Support and Feedback

Customer support is crucial for any cryptocurrency exchange, and Crypto.com is no exception. Let’s explore what you can expect for support availability, responsiveness, and user feedback:

Support availability and responsiveness: Crypto.com offers customer support through chat-based channels. User reviews and comments about support responsiveness and availability are mixed.

User experiences with support: Crypto.com users have shared many inputs with the platform’s customer support. Some find the support team and their answers quick and helpful. Others face delays and difficulties in resolving account-related issues.

User feedback: is Crypto.com legit?

• Positive feedback: Some users have positive interactions with Crypto.com’s customer support. They receive prompt solutions to their problem. Some find chat-based support convenient to use
• Negative feedback: It’s important to note that customer support also receives negative responses. Common complaints include slow response times, inadequate assistance with account problems, and withdrawal challenges. Some users express concerns about locked accounts, hacked profiles, and lost funds
• Reviews and ratings: Crypto.com has received mixed reviews from users. Currently, it has a low rating, with close to 7,000 reviews on Trustpilot. Overall, customer sentiment seems poor
• A note on customer support in the cryptocurrency space: Subpar customer service is a common issue across many cryptocurrency exchanges. While Crypto.com and others work to enhance their support services, challenges remain

Crypto.com should offer guidance, explanation, and answer questions, and bring value to their customers.

My suggestion regarding Crypto.com to readers: it’s wise to be somewhat self-reliant when navigating the platform. Be aware of Crypto.com’s offerings, potential issues, and best practices in cryptocurrency security. You may face issues and your case may not be resolved. Still, Crypto.com may offer other changes to improve your crypto holdings.

Crypto.com Mobile app

Having access to your crypto investments at your fingertips is a game-changer. That’s where the Crypto.com mobile app comes in, offering a handy way to manage your assets on your phone (Android and iOS). Let’s dive into what makes this app stand out in the world of crypto.

A user-friendly interface

Navigating crypto space can feel like exploring uncharted territory. Crypto.com’s mobile app is designed with simplicity in mind. Here’s what makes it a breeze to use:

• Intuitive design: The app sports an intuitive design, making it easy to find what you need without getting lost in complex menus
• Clear language: Say goodbye to crypto jargon. The app uses clear and straightforward language. You don’t need a degree in blockchain to understand what you’re doing

Buy, sell, and swap with ease

The Crypto.com app lets you buy, sell, and swap a wide range of cryptocurrencies. Here’s why this feature is a game-changer:

• Variety of coins: The app supports over 250 cryptocurrencies, from popular picks like Bitcoin and Ethereum to new coins. It’s your one-stop shop for diversifying your crypto portfolio
• User-friendly trading: The app offers a smooth trading experience. The easy-to-use interface simplifies the trading process
• Fiat-to-crypto: You can convert your fiat currency into cryptocurrencies hassle-free. No need to jump through hoops to get started

Stake your claim and earn rewards

This crypto exchange understands that holding cryptocurrencies should come with perks. Here’s how the app helps you make the most of your investment:

• Staking opportunities: The app allows you to stake your crypto assets, locking them in for a set period. In return, you earn rewards, potentially reaching up to 14.5% interest
• Crypto wallet: Crypto.com’s app offers a crypto wallet to securely store your assets. It’s like having a vault in your pocket

NFT marketplace and more

Crypto.com doesn’t stop at just trading. Here are some unique features that set the app apart:

• NFT marketplace: Dive into the world of non-fungible tokens with their built-in NFT marketplace. Explore, buy, and sell unique digital assets
• Credit card integration: Crypto.com offers its own cryptocurrency credit card. Link it to your app for seamless payments and crypto rewards

Safety first

Security is paramount in that the crypto space, and Crypto.com takes it seriously:

• Multi-Factor Authentication (MFA): Protect your account with MFA, an extra layer of security
• Compliance monitoring: Crypto.com diligently monitors compliance to keep your assets safe
• Cold storage: Your assets are stored offline in cold storage, minimizing the risk of hacks

Global access

Crypto.com extends its services to users in more than 100 countries worldwide. You can check the availability in your region by reading above. Keep in mind that service availability may vary by country.

Crypto.com Review: Final Thoughts

As we wrap up this journey exploring the Crypto.com review, remember that this platform is among the best out there. It offers some of the highest security features, vast coin and token support, and NFTs. It is great for trading with over 250 cryptocurrencies and has spot trading and futures. It also has a crypto card.

Still, there’s room for improvement, especially when it comes to the customer support team. This exchange will likely keep a high rank on CoinMarketCap, by trading volume, as it has a lot to offer. Keep in mind that the crypto world changes a lot, so be careful and stay updated. In short, Crypto.com is a versatile platform, but be aware of the fees and potential customer support issues. The recent Ledger wallet support is a positive move for security.

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Frequently Asked Questions

1. 01.

   Is Crypto.com safe to use?

   

   Crypto.com is among the safe platforms, but users should exercise caution as with any financial platform. There was a security breach on January 17, 2022.

2. 02.

   How does Crypto.com work?

   

   Crypto.com allows users to buy, sell, and trade cryptocurrencies through their platform. It’s available as a mobile app, so you can take your trading and investing with you.

3. 03.

   Who is the founder of Crypto.com?

   

   Crypto.com is co-founded by Kris Marszalek, Gary Or, and Rafael Melo, with Kris Marszalek.

4. 04.

   What are the fees associated with using Crypto.com?

   

   Crypto.com has varying fees, including Crypto.com trading fees and withdrawal fees. Check the website for specifics. Explore if some trading fee discounts are available.

5. 05.

   What do you like about Crypto.com?

   

   Users appreciate Crypto.com’s wide range of supported cryptocurrencies and user-friendly features. They also like hardware wallet support for the Crypto.com wallet.

6. 06.

   What is Crypto.com's native token?

   

   Cronos (CRO) is the native cryptocurrency token of Cronos Chain — a decentralized, open-source blockchain developed by Crypto.com.