Crypto.com: The Rising Crypto exchange
Crypto.com Review: Crypto.com is a cryptocurrency exchange that enables you to trade, invest, stake, and use wallets, NFTs, and other services. This platform offers over 250 different currencies, Crypto.com fees, and discounts for those who own a considerable amount of Crypto.com Coin (CRO).
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Pros
⦿ An extensive list of supported cryptocurrencies
⦿ Transparent, competitive fees with discounts available
⦿ Support for an ecosystem of cryptocurrency products
Cons
⦿ Fees are higher unless you own and utilize CRO.
⦿ Poor customer service
⦿ Trading fee reductions might be difficult to navigate.
Users can buy, sell, and trade over 250 different cryptocurrencies on Crypto.com.
This exchange accepts advanced order types, futures, and other cryptocurrency products such as NFTs.
It provides credit cards with crypto incentives.
Year Founded: 2016
Official Website: https://crypto.com
Cryptocurrencies Available: 250+
Customer Support: Email and Chat
Pros Explained
1- A comprehensive list of cryptocurrencies is supported: More than 250 currencies are supported, with spot trading, futures, and complex order types.
2- Fees that are transparent and competitive, with reductions available: Crypto.com has competitive trading fees ranging from 0.04 percent to 0.40 percent, with discounts available.
3- Support for a crypto.com product ecosystem: Crypto.com allows you to trade, stake, and swap cryptocurrencies. It also provides its own credit card and crypto wallet, as well as the ability to invest in NFTs.
Cons Explained
1- Increased costs unless you own and use CRO: Crypto.com members who own and utilize CRO currency can receive savings on their trading fees.
2- Poor customer service: Customers have complained about sluggish and low-quality customer service answers.
3- Trading fee discounts can be difficult to understand: Crypto.com‘s trading fee discount levels might be difficult to understand.
Introduction to Crypto.com
Crypto.com is a well-known cryptocurrency exchange that accepts a variety of crypto assets and blockchain-related items. Users may buy, sell, and trade a wide range of currencies while paying very minimal trading costs. The firm also provides crypto credit cards, a decentralized exchange, a separate crypto wallet, and an NFT platform. Users may also stake their cryptocurrency or keep it in a Crypto.com wallet for a fixed amount of time to earn up to 14.5 percent interest.
Crypto.com may be a suitable option for people wishing to buy and keep currencies such as Bitcoin and Ethereum. Fees are restricted to 0.40 percent and decrease with high trading volume or considerable CRO currency holdings. Crypto.com presently accepts 250 currencies and offers a variety of complex order types.
Crypto.com Review: Company Overview
Crypto.com was established in Hong Kong in 2016. It now provides over 250 cryptocurrencies to over 10 million consumers globally. Crypto.com provides a unique range of cryptocurrency-related financial solutions to consumers in 90 countries.
Crypto.com is excellent for intermediate to experienced cryptocurrency users because to its extensive currency selection, inexpensive cost, and other services. However, beginners may find the abundance of features overwhelming.
Overall, Crypto.com is perfect for people who want to do more with their crypto than just buy and hold it. It’s an excellent platform for aggressive traders and anybody interested in utilizing cryptocurrency as a currency rather than just an investment.
Cryptocurrencies Available on Crypto.com
Crypto.com offers a selection of over 250 cryptocurrencies. Users can buy, sell, and trade popular assets like Bitcoin (BTC), Ethereum (ETH), Polygon (MATIC), Solana (SOL), Cardano (ADA), as well as VeChain (VET), and CRONOS (CRO).
How to buy Crypto on Crypto.com?
Follow the simple steps below to make your first purchase:
Connect DeFi Wallet to your Crypto.com App account:
Select the Wallet for the coin you want to buy.
Connect the Wallet to your Crypto.com App account. Please be aware that each Wallet can only ever be connected to one Crypto.com App account.
Check whether you have linked the credit/debit card you wish to use for your purchase in the Crypto.com App. If not, go to the App and add the card.
Go to the ‘Buy’ tab from the bottom navigation bar to explore all the coins supported in your jurisdiction.
Select the coin you want to purchase in the Top Coins section or click the ‘Buy Now’ button
If the coin is supported on 2 or more networks, then you need to select the network you prefer (You will not see the Network Selection option if the coin is only supported on one network).
Enter the purchase amount and select the credit/debit card you want to use. Please be aware that the purchase limit is shared with your Crypto.com account.
You’ll have 15 seconds to review the details and confirm your purchase.
Enter your Crypto.com App account passcode. After that, you may need to complete 3DS verification, as required by your credit/debit card issuer.
All you need to do now is wait for your coins to arrive!
Please note that your purchase is an on-chain transaction, so the processing time may vary. The order status will be ‘Completed’ once you receive the coins. You can check your balance by going to the Wallet.
1. Connect to the Crypto.com App | 2. ‘Buy Crypto’ tab | 3. List of supported coins | 3a. Select the network |
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4. Enter the amount | 5. Confirm | 6. Passcode | 7. Order completed |
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Congrats, you made it! You are a cryptocurrency investor.
How to trade Crypto on Crypto.com?
To trade cryptocurrency on the Crypto.com Exchange, you must first be at Starter level or higher.
Visit crypto.com/exchange and select the Log In button (upper right-hand corner).
After you have logged in to your account, you will be able to make trades on the Exchange.
Navigate to the Markets page on the top left of the navigation bar.
Select the market you want to trade in. Navigate to the pair you want to trade in (e.g. CRO/USDT), and select Trade.
Navigate to the bottom right corner to find the Limit, Market, and Advanced order area. Select the type of order you want to trade with and fill in the necessary fields.
Notes on Crypto.com
A. The default price in the Limit order is the last price it was traded at.
B. If the market price of CRO/USDT is 0.1605 but you want to buy at 1.595, you can place a limit order. If it is not fulfilled immediately, you can see it in the open orders.
C. The percentages shown underneath refer to the proportion of one currency you have to purchase the other currency.
In the example below, I want to use 25% of my USDT holdings (882.30 USDT) at the price of 0.16 to generate a limit order scenario. This amounts to 5514.360 CRO. I can place a buy limit order to create this order.
Crypto.com Exchange Trading Pair Limit
Crypto.com places trading limits on trading pairs that are typically only listed on decentralized exchanges.
Crypto.com Review: Fees
The trading fees are volume-based, so you’ll enjoy bigger reductions as your trading volume grows. Stake CRO and pay your trading expenses in CRO to save even more money. As an added benefit, you may earn 10% p.a. on your CRO investment!
Opening a Crypto.com Account
Through your browser Crypto.com:
Visit crypto.com and click the Sign-Up button (upper right-hand corner).
Follow the on-screen instructions and provide us with the necessary information. Your email address will be used to send you a confirmation link, and your date of birth and country of residence helps us make sure you’re eligible. Users must be at least 18 years old.
Click on the Continue button. An email verification containing a one-time password (OTP) will be sent to your registered email. Check your inbox to confirm your registration.
Enter the OTP on the Exchange website.
Create your password for the Exchange and click Submit.
The last step is to verify your phone number. Select the area code of your country using the dropdown, then input your phone number (without the area code). You will be sent an SMS verification code to enter. Input the code you receive into the field, then select Submit.
You’re done! You will be redirected to the Exchange landing page.
Through your phone Crypto.com App:
Visit crypto.com/exchange and select the Sign up button (upper right-hand corner).
Select Continue as Crypto.com App User. You’ll be asked to enter your email address. Enter the email address registered with your Crypto.com App.
Click on the Submit button. A confirmation email will be sent to your email provided. Check your inbox to confirm your registration.
In your email, click the Connect to Exchange button, and a link in the email will redirect you to create a password.
Once you’ve created a password for the Exchange, click Submit.
You’re done! You will be redirected to the Exchange landing page.
Compare with other exchanges
Top 10 Approach: Crypto.com Review
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Crypto.com “Fee Structure.” https://crypto.com/exchange/document/fees-limits Accessed May 24, 2022.
- Crypto.com “How-to” https://help.crypto.com/en/articles/3495996-how-to-register-on-crypto-com-exchange Accessed May 24, 2022.
Crypto.com. “Top Cryptocurrency Spot Exchanges.” https://coinmarketcap.com/rankings/exchanges/ Accessed May 24, 2022.
