Crypto.Com: A Smart Investment Move?

Crypto.com is a cryptocurrency exchange platform that offers a wide range of features, including buying, selling, and trading various cryptocurrencies. It also provides a Crypto.com Visa Card, which allows users to spend their cryptocurrencies directly. The platform has over 250 cryptocurrencies available and serves as a marketplace for non-fungible tokens (NFTs). Crypto.com offers lower fees than its competitors, such as Coinbase, and provides extensive earning opportunities, making it a good choice for those seeking a comprehensive platform. However, it has faced criticism for its customer service and high fees for credit or debit card transactions.

Crypto.com has lower fees than Coinbase

Crypto.com and Coinbase are two of the most popular cryptocurrency trading platforms. They are both trusted and user-friendly, but there are some key differences between the two. One of the most notable differences is their fee structures. Crypto.com is the clear winner when it comes to fees, as it offers lower fees than Coinbase, making it a more affordable option for most users.

Both platforms use a maker-taker fee structure, but Crypto.com is cheaper for low-volume takers, which is what most users are looking for in a crypto exchange. The maker-taker fee structure means that users pay a fee that varies based on the size of the transaction and whether their order generates or reduces liquidity for a particular cryptocurrency. Crypto.com's maker fees range from 0.0% to 0.75%, while taker fees range from 0.05% to 0.075%. On the other hand, Coinbase charges maker fees ranging from 0.00% to 0.40% and taker fees ranging from 0.05% to 0.60%.

For example, a low-volume trader wanting to purchase $100 worth of Bitcoin via an Automated Clearing House Network (ACH) transfer would incur a maker-taker fee of 0.0% to 0.75% on Crypto.com. The same transaction on Coinbase would result in maker-taker fees of 0.40% and 0.60%, respectively. This makes Crypto.com a more cost-effective option for most users, especially those who are not dealing with large trading volumes.

In addition to lower fees, Crypto.com also offers an extensive array of earning opportunities, such as Visa cards, crypto pay, and the ability to earn interest on crypto deposits. Crypto.com also supports a broader range of currencies, with over 350 cryptocurrencies available, compared to Coinbase's over 240 tradable cryptocurrencies.

While Coinbase may be slightly easier to use, particularly for beginners, Crypto.com's lower fees, wider range of currencies, and earning opportunities make it a more attractive option for those seeking a comprehensive and affordable cryptocurrency platform.

Crypto.com offers a wider selection of cryptocurrencies

Crypto.com offers a wide selection of cryptocurrencies, with over 250 coins available to trade. This is a broader range of currencies than many of its competitors, including Coinbase, which has more than 240 tradable cryptocurrencies. Crypto.com's selection of coins is as good as, if not better than, most of its competitors.

Crypto.com users can buy and sell most of the top 20 cryptos, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), and Solana (SOL). The platform also serves as a marketplace for non-fungible tokens (NFTs). With so many coins and tokens available, it’s a great starting place for most beginners.

The Crypto.com app makes it easy to convert fiat currencies into crypto. It accepts many fiat currencies, including USD, GBP, and EUR. Depending on the user's country of residence, they may be limited to certain fiat currencies once they register.

Crypto.com's DeFi wallet acts as a decentralized exchange where users can swap coins and tokens with other users. Users will need to pay gas fees for any transactions they make with the DeFi wallet.

While Crypto.com offers a comprehensive range of cryptocurrencies, it's important to note that not all coins and services are available in all locations. For example, U.S. investors cannot stake coins or access its browser-based services. Additionally, a number of Crypto.com's cryptos are not available in the U.S. at all, and others are restricted in certain states.

Overall, Crypto.com's wide selection of cryptocurrencies makes it a compelling option for investors looking for a comprehensive platform that caters to a global audience.

Crypto.com has high security levels

Crypto.com is a highly secure platform that employs industry-standard security measures. The company has a strong commitment to security and data privacy, which it believes are the foundations for achieving mainstream cryptocurrency adoption. Crypto.com follows a "Zero Trust, Defence in Depth" security strategy and conducts data privacy assessments to safeguard user information.

The platform offers excellent security features to protect user accounts, including the latest advancements such as Passkeys, HSMs, and FIDO2, along with MFA methods like passwords, biometrics, and authenticator codes. Crypto.com also mandates the whitelisting of external addresses through email verification for added security.

In terms of fiat and cryptocurrency storage, Crypto.com takes a comprehensive approach. Fiat currencies are held in regulated custodian bank accounts worldwide, while cryptocurrencies are stored in offline cold storage, with 100% of user assets held safely and perfectly. Crypto.com also partners with Ledger to utilise its Ledger Vault institutional-grade custody solution, which includes hardware security modules and multi-signature keys. Additionally, the platform's hot wallets, which contain only a fraction of the company's total holdings, are protected by HSM and multi-signature keys.

Crypto.com has obtained several security certifications, including ISO/IEC 27001:2013, ISO/IEC 27701:2019, PCI:DSS 3.2.1, Level 1 compliance, and CCSS. The platform has also been assessed at Tier 4, the highest level, for both NIST Cybersecurity and Privacy Frameworks. With its robust security measures and certifications, Crypto.com is one of the safest crypto platforms available.

Crypto.com offers a prepaid Visa card with cash-back rewards

Crypto.com is a cryptocurrency exchange platform that allows users to buy, sell, or trade cryptocurrency. It also offers a prepaid Visa card with cash-back rewards, which is a unique feature that sets it apart from other platforms. The Crypto.com Visa Card is a prepaid debit card that can be used anywhere in the world that accepts Visa cards. It offers a convenient way for users to access and spend their crypto assets, with no annual fees.

The card has multiple tiers, each with its own benefits and requirements. The basic Midnight Blue card is free and requires no staking, but it has minimal perks and earns no cashback. Higher-tier cards offer more benefits, such as cashback on spending, subscription rebates, and airport lounge access. However, these cards require users to stake a certain amount of CRO tokens for a period of 180 days. The highest-tier Obsidian card, for example, offers up to 5% cashback on purchases but requires a staking requirement of $400,000.

To apply for a Crypto.com Visa Card, users must first sign up for a Crypto.com App account and complete the KYC verification process. They then need to purchase and deposit the required amount of CRO tokens into their crypto wallet in the app. Finally, users can select their desired card tier and stake their CRO tokens for 180 days. After that, they will receive a notification when their card has been shipped.

The cashback rewards earned on the Crypto.com Visa Card are paid in the form of CRO tokens, which can be traded on the Crypto.com platform for other digital coins or fiat currency. Cardholders can also link their card to Dosh, an app that offers additional cashback rewards at select merchants. Overall, the Crypto.com Visa Card offers a unique set of benefits for users who are looking for a convenient way to spend their crypto assets and earn rewards.

Crypto.com is user-friendly

Crypto.com is a user-friendly platform with a range of features that make it accessible to beginners and experienced investors alike. The platform offers a simple and intuitive interface, making it easy for users to navigate and trade cryptocurrencies. Its mobile app provides a seamless experience, with features such as a built-in wallet and a user-friendly trading interface.

One of the standout features of Crypto.com is its Crypto.com Visa Card, which allows users to spend their cryptocurrencies directly at millions of locations worldwide. The card offers various tiers, with benefits such as cashback rewards of up to 5% and credits for Spotify, Netflix, and Expedia. To qualify for these benefits, users need to lock up a certain amount of Crypto.com's native token, Cronos (CRO).

In addition to its Visa Card, Crypto.com offers several other ways to earn crypto. The platform provides interest on crypto deposits of up to 7%, although it is generally not recommended to store large amounts of currency on crypto platforms. Crypto.com also has a feature called Crypto Earn, which allows users to earn interest on over 20 different cryptocurrencies.

Another way to earn crypto on Crypto.com is through its Crypto Pay feature, which allows users to buy gift cards with crypto or select crypto pay at checkout with certain retailers. Users can earn cashback rewards on their purchases, with popular U.S. brands such as Apple, Nike, and Walmart included.

Crypto.com also offers a DeFi wallet, which gives users full custody of their crypto and acts as a decentralized exchange where users can swap coins and tokens with other users. However, users will need to pay gas fees for any transactions made through the DeFi wallet.

Overall, Crypto.com provides a comprehensive range of features that make it a user-friendly platform for both beginners and experienced investors. Its simple interface, Visa Card, and various earning opportunities make it a popular choice for those looking to invest in cryptocurrencies.

Frequently asked questions