Even Hollywood megastar Matt Damon desires you to affix Crypto.com.
In case you missed it, Crypto.com’s ad starring our favourite martian/murderer/Harvard genius acquired a ton of consideration — and never all of it was good. (“Cringe-worthy” was a well-liked evaluation tagline.)
However tacky advertising and marketing techniques apart, how effectively does Crypto.com ship on its promise of being “one of the best place to purchase, promote, and pay with crypto”? And do you have to register for an account with Crypto.com?
Let’s dig in.
Crypto.com Execs and Cons
Execs
- Number of crypto. Helps over 250 in style cryptocurrencies.
- Number of transactions. Helps shopping for, promoting, and buying and selling crypto.
- Sturdy cell app. It’s straightforward to handle crypto and carry out transactions rapidly and on the go.
- Reasonably priced. Low charges for buying and selling and no per-trade charge to maximise your investments.
Cons
- No crypto-to-crypto buying and selling for U.S. customers. A fiat foreign money should at all times be concerned within the transaction to some extent.
- Restricted customer support. Crypto.com presently gives solely chat-based buyer help, and there have been a number of buyer complaints about its pace and high quality.
What Is Crypto.com?
Crypto.com is a cryptocurrency alternate platform that means that you can purchase, promote, and commerce greater than 250 totally different cryptocurrencies.
Based in 2016, Crypto.com already has 10 million customers in 90 international locations. The large number of crypto is one issue that makes the platform stand out, in addition to its low buying and selling charges when in comparison with the competitors.
There’s additionally a Crypto.com Visa card obtainable. You possibly can high off this card with crypto and earn as much as 8% again with this Visa.
Within the unlikely occasion of a loss, the corporate has insurance coverage to cowl thousands and thousands in belongings.
How Does Crypto.com Work?
Crypto.com requires you to join an account, confirm your id, and fund your account to start buying and selling. The onboarding course of is pretty easy, permitting you to enroll and confirm your account inside a matter of minutes.
Much like a checking account, you’ll need to offer the next documentation to finish your account registration:
- First and final identify
- Nationality
- Date of start
- Cellular quantity to obtain a one-time passcode (OTP)
- Picture ID submission
- Selfie photograph
As a regulated alternate, Crypto.com locations a excessive worth on safety, and follows one of the best practices for the Know Your Buyer (KYC) course of. This contains submitting an image of your photograph ID, in addition to taking a selfie image to confirm your id. This helps maintain unhealthy actors off the platform, and minimizes the chance of id theft.
After getting signed up and verified your id, you’ll be able to deposit funds to start buying and selling. To deposit U.S. {dollars} or different fiat foreign money, you’ll be able to switch funds through ACH or wire switch. To deposit cryptocurrency, you’ll be able to ship crypto instantly out of your digital pockets to the Crypto.com app pockets. Simply be sure to choose the proper crypto, as every pockets deal with is exclusive.
And that’s it. You possibly can then begin utilizing Crypto.com for crypto buying and selling, incomes curiosity, or shopping for NFTs.
Pricing for Crypto.com
One of many high advantages of Crypto.com is its low buying and selling charge, decrease than these of lots of its rivals — permitting you to maximise your earnings.
The buying and selling charge is 0.4% for brand new customers on a complete month-to-month buying and selling quantity of lower than $25,000. As with most funding platforms, larger quantity trades provide decrease charges that may dip to as little as 0.04%. If you happen to maintain a major quantity of its coin, you get an extra low cost on buying and selling charges.
Crypto.com additionally doesn’t have any extra per-trade charges, that are frequent amongst buying and selling platforms, making the Crypto.com platform an much more engaging choice. It does, nevertheless, have transaction charges, resembling a 2.99% charge for debit and credit score transactions, which is on the upper facet, however you’ll be able to keep away from this in case you switch cash into your account through ACH (Automated Clearing House).
For a platform that gives such a big number of crypto choices, these charges are fairly cheap and may prevent cash in your investments in the long term.
Crypto.com Options
Crypto.com boasts a number of sturdy options that assist this funding platform stand out from the competitors.
Large Choice of Crypto Belongings
One of many greatest promoting factors for Crypto.com is its substantial number of crypto choices obtainable. At the moment, they’ve over 250 totally different cryptocurrencies on the alternate, which is considerably greater than different comparable platforms. A subset of those currencies can be supported for staking.
Some in style cryptocurrencies obtainable on the app embrace:
- Bitcoin (BTC).
- Ethereum (ETH).
- Cardano (ADA).
- Dogecoin (DOGE).
- Tether (USDT).
Crypto.com additionally gives its personal foreign money, a CRO coin or CRO token. If you happen to personal a major stake in CRO tokens, Crypto.com might reward you with perks, resembling decreasing your buying and selling charges.
Though the platform is well digestible for brand new and newbie crypto buyers, it’s price noting that the big number of cryptocurrencies obtainable may be arduous to dissect for many who haven’t invested in crypto earlier than.
Cellular App
Crypto.com is primarily a cell app, obtainable for iOS and Android gadgets.
With the cell app, Crypto.com is straightforward to make use of on the go. From it, you’ll be able to:
- Handle your linked financial institution accounts.
- Make crypto trades.
- Assessment transfers.
- Observe and handle your Crypto.com bank card steadiness.
Needless to say Crypto.com may be very a lot devoted to being a mobile-first expertise, so in case you’re extra of a desktop buying and selling fan, this will not be one of the best platform for you.
Digital Pockets Choices
Crypto.com gives a standalone crypto pockets to maintain your belongings secure, safe, and accessible for while you want them.
The Crypto.com app can hook up with the DeFi pockets app, one of the in style digital pockets selections that means that you can earn rewards and tokens, so you’ll be able to maintain all of your crypto belongings secure in a single place.
Learn extra: 6 Greatest Crypto Wallets to Stash Your Bitcoin
NFT Market
One other facet of Crypto.com that helps this platform stand out from the remaining is that it hosts its personal NFT market.
NFTs are digital recordsdata resembling visible artwork, video, or audio, which may be purchased, traded, and offered. NFTs have exploded in recognition recently and at sky-high costs ($600,000 Nyan Cat, anybody?). If you happen to’ve been tempted with buying NFTs, you’ll be able to take a whirl by means of the Crypto.com NFT market.
Learn extra: The Full Information to Shopping for Your First NFT
My Expertise Researching Crypto.com
When researching the Crypto.com platform, I discovered that it supplied a easy consumer expertise, although it is just obtainable through its cell app for U.S. residents. Signing up for an account was simple, as was verification, and I used to be capable of log in to the cell app with none points.
The app offers a fast overview of the market and the homepage is customizable, which is a pleasant contact. The soar menu on the backside allowed me to rapidly cycle by means of a number of options, together with the homepage, my accounts (digital wallets), a customized coin monitoring, and particulars on the Crypto.com bank card. Having a devoted button for the bank card looks as if a bit a lot, and as a non-card consumer I can’t take away the menu button.
The app was responsive, and I may rapidly soar by means of totally different cryptocurrencies, search for costs, and place orders to purchase Bitcoin or every other crypto with a number of faucets. General, Crypto.com gives an intuitive cell app, and whereas not made for superior merchants, it’s a good expertise for brand new customers.
Who Ought to Use Crypto.com?
Crypto Newbies
Crypto.com may be very mobile-centric, and its cell app design is pretty intuitive for crypto newbies. With fast entry to favorites and the flexibility to purchase and promote crypto rapidly, the app is good for brand new crypto merchants.
Price-Aware Customers
Crypto.com gives low charges in comparison with different main exchanges, charging 0.4% per commerce, and giving reductions to high-volume merchants. If you happen to’re seeking to commerce crypto with out the excessive charges, Crypto.com is price a glance.
Crypto.com vs. Rivals
Right here’s how Crypto.com stacks up towards two in style U.S.-based cryptocurrency exchanges:
Crypto.com | Gemini | FTX.us | |
---|---|---|---|
Charges (maker/taker) | As much as 0.40%/0.40%, relying on 30-day commerce quantity | $0.99 to $2.99 for orders beneath $200; 1.49% to three.49% for trades over $200.
ActiveTrader®: |
As much as 0.10%/0.20%, relying on 30-day commerce quantity |
Buying and selling choices | Purchase/promote, commerce, futures/derivatives, lend, NFTs, curiosity accounts | Purchase/promote, earn curiosity | Purchase/promote, margin, futures/derivatives, lend, NFTs, curiosity accounts |
Funding choices | ACH, wire switch, crypto deposit | Wire switch, ACH, debit card, crypto deposit | Wire switch, ACH, debit card, bank card, SEN, Signet, crypto deposit |
Foreign money choice | 250+ crypto, 20+ fiat | 100+ crypto, 7 fiat | 25 crypto, 1 fiat |
Verification course of | 2–3 minutes | 2–3 minutes | Immediate |
Gemini
Gemini is a user-friendly crypto alternate with entry to over 100 cryptocurrencies, a well-designed cell app, and even sizzling pockets insurance coverage on crypto held of their digital pockets. Gemini additionally gives an app that permits you to pay for normal retail purchases along with your crypto steadiness.
Gemini costs a lot larger charges than Crypto.com on its normal platform, however gives discounted buying and selling on the Gemini ActiveTrader® platform. Gemini additionally gives a bank card that pays crypto rewards instantly into your account. General, Gemini is a safe place to purchase crypto for rookies, however you might pay larger charges than different exchanges.
Study extra by studying our full Gemini evaluation.
FTX.us
FTX.us is a sophisticated cryptocurrency buying and selling platform that gives a big selection of buying and selling instruments and options for essentially the most skilled merchants. Customers can entry margin, futures, and choices buying and selling, superior charting, and even programmatic crypto buying and selling, in addition to an NFT market.
FTX.us has a few of the lowest buying and selling charges within the business, with reductions obtainable for high-volume merchants, even as little as 0.00% for maker trades for customers with over $50 million per 30 days in buying and selling quantity. It additionally gives its personal crypto debit card, permitting you to spend your crypto steadiness. FTX.us is good for lively merchants that need entry to essentially the most superior buying and selling platform round.
Study extra by studying our full FTX.us evaluation.
Abstract
Crypto.com is a cryptocurrency alternate and funding platform price contemplating. For crypto merchants who’re in search of an intensive checklist of currencies to develop their portfolio with out outrageous buying and selling charges, Crypto.com is a powerful choice.
The cell app can be a giant promoting level and gives extra flexibility for buying and selling — making it straightforward to see and handle all your belongings from one spot.
All in all, it’s a great choice if you wish to purchase, promote, or commerce cryptocurrencies. And with Jason Bourne’s stamp of approval besides, it might be price your time in case you’re available in the market for cryptocurrency.
Featured picture: Ira Lichi/Shutterstock.com