Crypto.com Review 2023

Crypto investors around the world have flocked to Crypto.com to buy assets. Not only is it one of the top 20 largest exchanges in the world, but Crypto.com has gone mainstream by buying the naming rights to the Lakers’ Staples Center and investing $100 million into a marketing campaign featuring Matt Damon.

In this 2023 Crypto.com review, we cover in detail what investors and traders need to know about the Crypto.com platform – its fees, features, mobile app and which cryptos are listed to buy and sell.

Cryptoassets are a highly volatile unregulated investment product.

Tradable Cryptos on Crypto.com

Investors can buy Bitcoin on Crypto.com and 250+ other cryptocurrencies. But the platform is expanding, and management’s intentions are to add several marketplaces to the exchange.

Cryptocurrencies

Traders can use Crypto.com to buy, sell, store, send and track those 250 cryptocurrencies – many can also be traded with leverage on perpetual futures pairs. Besides the major coins, such as BTC, ETH and ADA Crypto.com offers an impressive range of altcoins such as Algorand, Polkadot and Uniswap.

The Crypto.com exchange is constantly adding new coins, so if investors don’t see the one they want there’s a chance it could be added in the near future.

Trading on Crypto.com means that investors also have access to meme coins like Dogecoin, Shiba Inu and also DeFi coins like Fantom. Investors who feel that day-trading cryptos is risky due to the volatility can opt for a safer option to earn interest on cryptocurrencies by staking them.

Crypto.com enables investors to stake coins, requiring them to lock in coins on the exchange to earn interest. The platform has provided 40 cryptocurrencies and stablecoins that investors can stake. Each coin provides a predetermined annual interest. As an example, staking Bitcoin for a year will earn investors 6% interest. Investors who stake stablecoins can earn up to 10% per annum. Some of the best staking coins provide up to 14.5%. Choosing to stake the platform’s native token, CRO, will yield only 4% interest annually.

This platform offers various lock-in periods, 1 month or 3 months. Investors can opt for the flexi period, enabling them to choose the period to keep their coins locked. Crypto.com offers one of the best crypto staking platforms.

Investors can use 20 fiat currencies to trade the cryptos offered on the Crypto.com platform.

Cryptoassets are a highly volatile unregulated investment product.

Non-fungible Token (NFTs)

NFTs are a growing phenomenon, and their market valuation was estimated to be $47 billion in 2021. Some analysts predict that it could be worth $147 billion by 2026. First introduced in 2012 as an issuance for Bitcoin because Ethereum hadn’t yet been created, NFTs are a financial security consisting of digital data stored on the blockchain.

It’s regarded as a distribution ledger, and NFT ownership is recorded on the blockchain. Owners can sell, transfer and trade NFTs. Crypto.com wanted to get in on the action, so it offered an NFT marketplace. Investors can buy, sell and showcase NFTs.

Crypto.com offers a top collection of NFTs, featuring Ugonzo Art, DaRealGenius and some of the more affordable ones such as Loaded Lions and Snailmates. The Crypto.com NFT platform is constantly adding new types of non-fungible tokens.

Cryptoassets are a highly volatile unregulated investment product.

GameFi

GameFi is a combination of video games and blockchain technology. These blockchain games offer economic incentives such as in-game rewards for completing tasks and progressing in the game. They’re known as play-to-earn games and users can receive the platform’s native token.

Investors have access to popular platforms such as The Sandbox, Axie Infinity and Legends Reborn on Crypto.com. See our full list of gaming crypto coins.

Cryptoassets are a highly volatile unregulated investment product.

Yield Farming

Although still in its beta stage on Crypto.com, yield farming is a way for investors to earn a passive income by contributing to liquidity pools. Investors receive rewards such as coins for locking up their cryptocurrencies. It differs from staking coins.

Yield farming provides liquidity to DeFi protocol to receive a yield, but staking coins involves locking coins on an exchange to make the network more resilient and validate transactions. Staking is more suitable for beginners because it is less risky. Yield farming provides short-term returns, whereas investors stake coins usually to earn interest long-term.

Cryptoassets are a highly volatile unregulated investment product.

Crypto.com Fees & Commissions

Our Crypto.com review team also noticed that the platform has a competitive fee structure. The platform splits its trading fees between takers and makers rather than using a spread system.

Crypto.com Trading Fees

Crypto.com’s various crypto fees and NFT trading fees are listed below.

Cryptocurrency Fees

Crypto.com fees are tier-based. The higher the trading volume, the lower the fees. Investors on level 1 have a trading volume between $0 and $25,000 monthly. On that level, takers and makers are charged 0.4%. At the time we published this article, Crypto.com offered a 10% discount on fees. But discounts are given in CRO rebates. So level 1 traders are charged 0.36%.

Once traders exceed the $25,000 monthly volume, they qualify for level 2 rates, which are usually 0.35%  but 0.315% with the current special. Let’s demonstrate with an example by using Bitcoin trading on level 1 with 0.4% fees. Traders wishing to invest in Bitcoin with $1,000 would receive $996 worth of Bitcoin. The reason is that the fees for a $1000 trade are $4.

VIP traders are entitled to discounted fees. To qualify for VIP fees, traders would need to exceed 1% of the exchange’s volume. If that were to happen, VIP traders are charged 0.04% as takers and 0.02% as makers. Even the VIP trading is tiered. VIP 2 and VIP 3 levels are available, with the second level requiring traders to exceed 2% of the exchange’s volume to be charged 0.03% as a taker and 0.010% as a maker.

NFT Fees

NFTs traders will be glad to know that the platform has reduced secondary seller fees from 5% to 1.99%. NFT creators can mint NFTs and list them for sale on the marketplace and be charged 1.99% primary seller fees, reduced from 15%.

The reduced fees for NFT traders and creators are valid until 30 September 2022.

Crypto.com Non-Trading Fees

We’ve included Crypto.com’s non-trading fees.

Deposits

The good news for investors is that Crypto.com doesn’t charge a fee for USDC deposits via SWIFT and FEDWIRE. But investors should note that it’s possible their banks may charge fees for deposits to Crypto.com.

Investors will be charged 10 USDC for erroneous USD deposits.

Withdrawal

Crypto.com charges withdrawal fees, whether investors decide to take out cryptocurrencies or fiat currency. The Crypto.com withdrawal fee varies per coin. The platform also stipulates a minimum amount of crypto that investors need to withdraw.

Investors wishing to withdraw via bank transfer will incur a non-refundable 25 USDC fee. Also, the platform charges an administration fee of  50 USDC for erroneous USD deposits.

Inactivity

The platform also penalizes traders who are inactive. If a trader is inactive for 12 months, Crypto.com will charge $5 monthly.

Is Crypto.com User-Friendly?

Trading on Crypto.com is convenient for beginners and pro traders. That’s the reason that this platform has managed to attract more than 50 million users. It caters to traders of all skill levels, enabling beginners to place trades easily.

Opening a trade is as simple as going to the exchange, searching for the cryptocurrency to trade and clicking on ‘Trade’.

Pro traders will find the platform appealing because Crypto.com has designed it to feature advanced tools. Traders can incorporate indicators and combine strategies to ensure they have optimized their technical analysis. It’s important for traders to feel secure about their decisions before opening a trade, and Crypto.com provides the tools to achieve that.

Whether traders opt for the Crypto.com app or the desktop version, they’ll find that the platform navigates them to the next step. It’s frustrating having to click numerous buttons to get to what traders need, and this platform has eliminated that. The desktop version features only a few icons, enabling traders to find what it is they’re looking for and to navigate to it.

Even the homepage contains most of the main features, so traders won’t struggle to find what they’re looking for. As for the mobile version, Crypto.com has incorporated the main features found on the desktop version and featured them on the app. Traders who are on the go will find the app to be straightforward and convenient for placing trades.

One of the appealing things about this platform is the colors and the design used. Some trading platforms opt for a white background, making the screen really bright. And all of the features are sized well so it’s easy to see them and click on them.

Cryptoassets are a highly volatile unregulated investment product.

Crypto.com Features, Analysis & Trading Tools

Doing the Crypto.com review has shown us that this platform is trying to diversify into various spheres of the crypto ecosystem. It’s even serving as a lending house.

Lending

Crypto.com wants to help investors obtain loans, so it has enabled a feature called lending. It offers an instant loan backed by an investor’s crypto. Investors need to deposit accepted cryptos, and they will receive their loan immediately. Some of the cryptos investors can use as collateral are CRO, BTC, LTC, ETH, VET, LINK and DOT. See our guide to DeFi lending.

The platform enables investors to repay loans partially or in full at any time within 12 months of having taken the loan. The interest for the loan accrues daily and is calculated using the unpaid loan principal. Crypto.com uses the  loan-t0-value (LTV) to determine the interest rate and the amount of an investor’s CRO stake on the exchange.

Over-the-Counter (OTC)

Investors who want to trade large volumes and qualify for reduced trading fees will be glad to know that Crypto.com serves as an OTC portal. The platform enables investors to trade with large orders, a minimum amount of USDT 50,000. Because of the sheer size of such orders, Crypto.com has offered a custom quote to such traders to reduce their fees.

Although OTC trades are large, Crypto.com enables traders to execute them in seconds. Investors are limited to a maximum trade of  1,000,00, USDT and the only pairs traded OTC are BTC/USDT, ETH/USDT, ADA/USDC, SOL/USDC, and XRP/USDC. The platform has also limited OTC trading to VIP traders and institutional investors.

Trading Tools

The great thing about this platform is that it enables beginner traders to place a trade with the click of a button. But advanced traders can use tools to enhance their strategies. Crypto.com uses charts by TradingView, enabling traders to use several tools such as Fibonacci retracement / extension levels, moving averages and pitchforks.

By using Crypto.com, investors also have access to the order book and trading history. That may help traders to receive confirmation about their sentiment. The advanced tools also enable traders to take advantage of 10x margins.

There’s also a dollar cost averaging bot available to scale into a position automatically over time.

Staking

The crypto market is volatile, and it’s not necessary for investors to trade cryptocurrencies to make money. A passive way for investors to earn from cryptocurrencies is by staking coins. The best altcoin exchanges offer staking coins, providing interest to investors who lock in their coins on the exchange.

Crypto.com offers more than 40 stakable coins, each providing different interest rates. Investors wishing to stake Bitcoin or Ethereum will earn 6% per annum. Those who wish to earn higher returns can opt for stablecoins, which provide an annual return of 10%. Some of the altcoins on this platform enable investors to earn up to 14.5% annual interest.

One of the appealing factors of staking on this platform is that investors can choose their staking periods. The highest interest earned will be for annual staking, but Crypto.com enables 1-month or 3-month staking. Investors can also choose flexi periods, which usually yield low interest.

Cryptoassets are a highly volatile unregulated investment product.

Crypto.com Account Types

Joining this platform enables investors to have one of three accounts: standard, VIP and institutional. The standard account is what most traders will hold, whether beginners or advanced. Traders wishing access to a VIP account will have to prove that they qualify by trading more than 1% of the exchange’s volume.

The benefit of being a VIP trader is lower fees. Crypto.com offers VIP levels 2 and 3 for traders who exceed 2% and 3% of the exchange’s trading volume, respectively.

Since Crypto.com offers OTC, it provides institutional investor accounts.

Crypto.com App Review

More than 1 million people have downloaded the Crypto.com app, available on iOS and Android. Traders who wish to trade wherever they are on a small device may opt for trading on the app. Downloading the app takes about a minute, and the first screen prompts users to create a new wallet or import one.

Then the app navigates users to choose an avatar most compatible with their personality. After that, users can skip the rest of the sign-up process and go straight to trading.

The main screen on the app enables investors to immediately pick a cryptocurrency to trade. The icons at the bottom enable users quick navigation to NFTs, staking, wallet and swap, which enables traders to exchange tokens from the same blockchain. There are no delays between switching from icons. The navigation flows swiftly from one feature to the next.

The Crypto.com wallet is one of the best crypto wallets on the market. It enables users to buy, send and receive crypto at the touch of a button. The app’s wallet is even more convenient to use than the desktop version. The big difference between the app and the desktop version is that the mobile version contains only the icons needed for trading. The desktop version contains certain features and information that some traders won’t need.

This app’s ease of use makes it ideal for beginners. Capital.com has one of the best crypto apps on the market.

Crypto.com NFT Marketplace

NFT investors can access the Crypto.com marketplace to buy and sell NFTs. This platform offers some of the most popular NFTs such as BeatHeadz, Aston Martin F1 and Bull Run Crew.

The great thing about Crypto.com’s NFT marketplace is that it enables creators to showcase their work.

Cryptoassets are a highly volatile unregulated investment product.

Crypto.com Wallet

Security is very important to investors, so we were glad to see that Crypto.com is adamant about providing secure storage. The app enables users to set up a new wallet or import their own. Also, investors who choose to keep their assets on the exchange will be relieved to know that Crypto.com keeps all cryptocurrencies offline in cold storage.

Crypto.com Payment Methods

Funding a Crypto.com account is possible via several payment options.

ACH

Crypto.com enables traders to instant deposits via ACH. The platform doesn’t charge any deposit fees for ACH but limits daily transfers to $50,000 and to $500,000 per month.

Debit/Credit Cards

Another option to fund accounts is via debit or credit cards. The app enables users to add a credit card for easy transfer. The platform needs to verify the card, so it will deduct SGD 0.10 for up to seven days. Crypto.com charges 2.99% for card top-ups.

Fiat Wallets

Investors who want to transfer fiat currencies into their accounts can easily do it via the app. Fiat wallets enable investors to deposit funds into their accounts from bank accounts.

Cryptos

The quickest way to start trading on Crypto.com is by transferring cryptos onto the exchange. Crypto deposits aren’t charged, but the platform charges withdrawals, varying based on the coin withdrawn.

Crypto.com Minimum Deposit

The minimum amount investors can deposit to start trading on this platform is 100 USDC. That’s equivalent to $100. The great news is that if users opt for ACH or crypto deposit, no charge applies.

Fiat wallets via the app enable investors to transfer funds from their bank accounts.

Crypto.com Withdrawal Times

Investors wishing to withdraw to the Crypto.com app will receive their assets instantaneously. Otherwise, withdrawing to an external address can take up to 2 to 3 hours.

Some traders prefer to withdraw via ACH using the fiat wallet. Crypto.com makes the process simple, and the navigation pad guides investors to complete the withdrawal.

Using the fiat wallet to withdraw funds via ACH can take 3 to 5 business days.

Crypto.com Bonuses & Promos

Crypto.com fees might seem like a bonus to some investors since the platform’s fees are affordable. But Crypto.com also provides promos. It’s a referral program that rewards investors up to $2,000 with the CRO token for every friend an investor refers to the exchange.

The reward also includes up to 50% off trading fees. Crypto.com hasn’t placed a limit on the number of friends investors can refer. After all the conditions are met, the referrer and referee will receive their bonuses immediately.

Crypto.com Demo Account

Although Crypto.com offers advanced tools when trading, it’s an exchange with a live platform. Traders who place trades are doing it in a live environment.

A demo account is great for practicing before going live, so Crypto.com should look into developing one. It may entice more beginners to join the exchange.

Cryptoassets are a highly volatile unregulated investment product.

Crypto.com Customer Support

The last thing that beginner traders want is not to have help when encountering difficulty placing trades. The good news is that Crypto.com offers 24/7 help.

The platform’s help center page provides a lot of answers to queries, but traders can enter the live chat if they can’t find an answer to their query. Traders can also access Crypto.com’s social media pages such as Facebook, Twitter and LinkedIn for support.

Crypto.com Licensing & Security

Crypto.com seems serious about security because it screens all deposits and has a team that monitors transactions. It holds cryptocurrencies offline in cold storage and holds corporate funds in hot wallets. To ensure the app is safe, Crypto.com installed multi-factor authentication.

The platform has received a Class 3 VFA Service Provider license from MFSA so that customers receive great consumer protection. Crypto.com has also received an Electronic Money Institution (EMI) License from the MFSA.

As for regulations by major financial authorities, Crypto.com needs to step up its game to show investors it’s serious about upholding high ethical standards. The more regulatory bodies watch over an exchange, the safer investors feel about their assets.

Crypto.com Accepted Countries

Crypto.com is in all major countries. However, its app is geo-restricted in numerous countries but not the main ones such as the US, UK, India, Australia and Canada. The app is also available in 49 US states. The only geo-restriction for that app in the US that Crypto.com has is in New York.

The platform also offers a metal Visa card which we reviewed. It’s currently available in 40 countries.

How to Start Trading with Crypto.com

Some Crypto.com reviews online haven’t provided a step-by-step guide about how to start trading on the platform, but we have.

Step 1: Download the App

Visit the Crypto.com website, which supports desktop and mobile versions. The link to download the app is on the site.

Cryptoassets are a highly volatile unregulated investment product.

Step 2: Create an Account

After tapping on the app, a user needs to head to the Crypto.com login and create an account by tapping that option at the bottom. Users need to input an email address and then verify their emails after Crypto.com has sent a link.

Step 3: Deposit Funds

Deposit money into an account by going to the dashboard, then tap ‘Home’ and after that tap ‘Transfer’. Tap ‘Deposit’, then tap ‘Fiat’.

Choose the currency to transfer and the amount.

Step 4: Search for Cryptos

Tap the ‘Crypto log’ at the bottom of the app, then type in the desired cryptocurrency to trade in the search box at the top.

Step 5: Buy Bitcoin

Enter the amount of Bitcoin (BTC) to buy, and Crypto.com will display the BTC equivalent at the bottom. Tap ‘Buy BTC’.

How to Sell on Crypto.com

Instead of buying cryptocurrencies on Crypto.com, investors can choose to sell them. It’s a simple process and only varies by one tap. As the steps above indicate, after selecting the cryptocurrency to trade, investors should tap ‘Sell’ instead of ‘Buy’.

Conclusion

Having caught the attention of the crypto industry since its 2016 launch, CoinMarketCap now ranks Crypto.com #17 with an exchange score of 6.5/10.

For our Crypto.com review, we also rate it highly especially as this trading platform also provides one of the best DeFi staking platforms on the market. The Crypto.com app is convenient for beginner traders and offers the main features users can find on the desktop version. Investors have access to more than 250 cryptocurrencies and 40 staking coins.

Crypto.com trades are easy to place. Deposits are free, and several options are available for funding an account. Copy trading isn’t a feature found on this platform unlike eToro, but it does provide an order book and history of trades, as well as advanced tools for charting.

Cryptoassets are a highly volatile unregulated investment product.

FAQ