Crypto.com Review: Safety, Features & More

What is Crypto.com?‍

Crypto.com is an exchange where users can buy over 350 digital currencies. Users can trade on the spot market, using margin, or through derivatives with up to 20x leverage. Launched in 2016 by Rafael Melo and Bobby Bao, it now has 100 million users. The platform offers various features, from staking and recurring buys to a Visa card that gives up to 5% back in CRO tokens. 

The company has sponsored major sports events and teams, including the UFC and the FIFA World Cup, highlighting its popularity among retail investors. It provides competitive fees and discounts for users who stake its native token, Cronos (CRO), rewarding loyal users. The functionality extends across both mobile and desktop platforms.

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Crypto.com Features

Crypto.com is one of the leading exchanges in the world, offering a comprehensive range of tools and services to its global and diverse user base. Here’s an overview of its key features:

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Trading Types

Crypto.com offers several trading options, allowing users to engage with over 350 cryptocurrencies through intuitive tools suitable for all experience levels.

• Spot Trading: Users can easily buy, sell, and trade a wide range of digital assets, from Bitcoin to Ethereum, using more than 20 fiat currencies.
• Advanced Trading: For users seeking more sophisticated tools, Crypto.com provides advanced charting, multiple order types, and high-speed execution, making it ideal for more seasoned traders.
• Derivatives Trading: Offering futures markets and leveraged trades up to 25x, it allows users to amplify their potential profits while managing risk efficiently.

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Earn Options

The exchange gives users the opportunity to earn passive income from their cryptocurrency holdings in various ways.

• Crypto Earn: Users can earn interest on more than 25 tokens and stablecoins with flexible terms. Rates go up to 12.5%, making it a highly competitive option for those looking to passively grow their assets.
• On-Chain Staking: The exchange allows customers to stake digital assets like CRO or Ethereum and earn rewards for helping secure the blockchain network with up to 8% APY offered.
• DeFi Staking: Earn up to 34.99% p.a. in rewards by staking DeFi specific tokens like CorgiAI and Minted.
• Supercharger: The Supercharger program allows users to deposit CRO and earn rewards in other popular tokens with no lock-up period.

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Other Products

Crypto.com’s ecosystem is vast, with several tools designed to make trading, managing, and spending cryptocurrency more convenient.

• Crypto.com Visa Card: This metal card allows users to spend their cryptocurrency at over 60 million merchants worldwide, just like a regular debit or credit card. Users can also receive 5% cashback rewards, airport lounge access, and other premium benefits.
• DeFi Wallet: A non-custodial wallet, the Crypto.com DeFi Wallet gives users full control over their private keys and access to a range of DeFi services such as staking and yield farming.
• Crypto.com Pay: With Crypto Pay, users can spend their crypto at over 300,000 merchants globally, benefiting from cashback rewards of up to 10%.
• NFT Marketplace: Invest in the most popular NFT projects directly through the Crypto.com interface. Start trading popular projects like Bored Apes, Pudgy Penguins and World of Women.‍
• CRO Token: CRO is the native token for the Crypto.com exchange, and it can be staked to earn rewards, spent for transactions, or used for participation in the network's governance.

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Is Crypto.com Safe?

Crypto.com has built its reputation on a strong foundation of security and regulatory compliance. The platform has multi-factor authentication, cold storage for assets, and a "Zero Trust" strategy that limits access to sensitive information. It is also transparent about its reserves, allowing users to verify their funds are backed 1:1 through its audited Proof of Reserves page.

The platform is regulated and licensed in multiple jurisdictions, reinforcing its commitment to safety:

• Registered with the Financial Conduct Authority (FCA) and holds an Electronic Money Institution (EMI) license in the UK, allowing it to offer e-money products.
• Virtual Asset Service Provider (VASP) License from the Dubai Virtual Assets Regulatory Authority (VARA).
• Major Payment Institution License for Digital Payment Token (DPT) services from the Monetary Authority of Singapore (MAS).
• Registration as a Digital Currency Exchange Provider and Independent Remittance Dealer with AUSTRAC in Australia.
• Recognized as a Virtual Asset Service Provider (VASP) in various countries, including France, Italy, and Greece.
• Complies with stringent security frameworks, such as ISO 27001, PCI DSS Level 1, and SOC 2 standards.

Crypto.com also enforces Know Your Customer (KYC) and Anti-Money Laundering (AML) protocols. These measures, along with continuous audits and certifications, make the exchange a safe choice for managing digital assets.

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Fees Schedule

‍Crypto.com’s fee structure is designed to reward high-volume traders and users who lock up CRO tokens on the platform. Below is a breakdown of the trading and transaction fees:

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Trading Charges

Crypto.com employs a volume-based maker-taker fee model, where the more you trade, the lower your fees.

• Spot Trading Fees: For users trading less than $50,000 in 30 days, maker fees start at 0.15%, and taker fees are 0.30%. As trading volume increases, fees decrease, with users trading over $10,000,000 enjoying a 0% maker fee and 0.05% taker fee.
• Derivatives Trading Fees: For users trading less than $1 million a month, the maker fees are 0.017%, and taker fees are 0.034%. For those who trade more than $50 million a month, the maker fees are zero, and taker fees drop to 0.026%.
• CRO Lockup Discounts: Users who lock up 50,000 CRO or more benefit from reduced fees, enjoying 0% maker fees and discounted taker fees.
• Additional Fees: A forced liquidation in trading accounts incurs a 0.5% fee. Erroneous transaction returns are subject to administrative fees, varying between €25 for SEPA and $40 for SWIFT.

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VIP Trading Discounts

For high-volume traders, Crypto.com offers a VIP program with exclusive privileges and deeper fee reductions:

• VIP 1: 0% maker fees and 0.04% taker fees.
• VIP 5: 0% maker fees and as low as 0.025% taker fees for users trading over 2% of the exchange’s spot volume.

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Deposit and Withdrawal Costs

• Crypto Deposits: Free for most assets.
• Crypto Withdrawals: Vary by asset, with standard blockchain network fees applied.
• Fiat Deposits: Bank, SEPA and SWIFT transfers are free, while credit and debit card deposits carry a fee ranging from 2.99% to 3.5%.
• Fiat Withdrawals: Generally free for bank transfers, but fees may vary depending on the region.

Crypto.com reserves the right to amend fees and benefits periodically to ensure the best trading experience for its users.

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What is the Crypto.com Card?

The Crypto.com Visa Card is a prepaid card that allows users to spend their cryptocurrency while earning rewards in CRO, the platform's native token. Available in multiple tiers, the card offers cashback rewards of up to 5%, depending on the level of CRO staking, and provides perks such as free ATM withdrawals, airport lounge access, and rebates on services like Spotify and Netflix. 

Users can top up the card with fiat through bank transfer, credit/debit card, or by converting cryptocurrency through the Crypto.com app. The card is widely accepted and offers flexibility, making it easy to integrate crypto spending into everyday life while earning rewards. Each tier comes with varying benefits, offering higher perks to those who stake more CRO tokens.

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Bottom Line

In conclusion, Crypto.com offers a comprehensive platform for crypto trading, earning, and spending. It supports over 350 digital assets to trade on spot and derivatives markets with competitive fees. Additional perks include its Crypto.com Visa card, on-chain staking, crypto wallet, Supercharger, CRO token and NFT marketplace.