Crypto.com Exchange Review

Introduction

Crypto.com Exchange is a reputable cryptocurrency platform that offers a wide range of services, including trading, investing, staking, wallets, and NFTs. It is part of the Singapore-based parent company, Foris DAX Asia, and has licenses from reputable organizations such as the FCA, SEC, and MFSA. With almost 340 supported crypto assets, the platform charges competitive rates depending on the transaction volume and type of trade. The exchange prioritizes the safety of user funds and employs robust security measures, making it an excellent choice for individuals who value security, compliance, and user-friendly functionality. It is available on mobile and desktop platforms and has an NFT marketplace. The platform has over 80 million active users across 90 countries and offers a wide range of innovative financial services, such as trading options, tools, and a crypto debit card. The company suffered a security breach in January 2022, but clients who lost their funds were quickly reimbursed within 12 hours. Generally, this crypto exchange review found the platform to be a reliable and efficient way to manage digital assets, whether you are new to cryptocurrencies or a seasoned trader.

Summary Table

Founded In	2016
Native Token	CRO
Listed Cryptocurrency	250+
Trading Pairs	250+
Supported Fiat Currencies	USD, EUR, GBP, CAD, AUD, SGD, HKD, JPY, CHF, KRW, BRL, INR and more
Supported Countries	100+
Minimum Deposit	$1 or equivalent
Deposit Fees	No fees
Transaction Fees	From 0.075% and 0.034% for the Spot and Derivatives markets, respectively.
Withdrawal Fees	No fees
Application	Yes, iOS and Android mobile apps
Customer Support	Help page, email, chatbot

Crypto.com Features

Token exchange

The Crypto.com Exchange allows users to trade over 250 cryptocurrencies, providing a wide selection of digital assets to buy, sell, and trade. The platform offers advanced trading features, including limit orders, stop-loss orders, and market orders, to facilitate efficient trading.

OTC Desk

The Over-the-Counter (OTC) Desk on Crypto.com provides a secure and private way for large-scale cryptocurrency transactions. It offers personalized trading assistance and competitive pricing for institutions and high-net-worth individuals who wish to trade large amounts of cryptocurrencies.

Cashback Visa Card

The platform offers a Visa debit card that allows users to spend their cryptocurrencies in real-world transactions. Users can earn up to 8% cashback on their card purchases, paid in the form of the native CRO token. The card supports multiple currencies, including USD, EUR, and GBP, and provides various benefits such as airport lounge access and rebates on subscription services.

DeFi Wallet

The DeFi Wallet by Crypto.com enables users to manage their decentralized finance (DeFi) assets in a secure and user-friendly manner. It supports a wide range of DeFi tokens and allows users to earn interest on their holdings. The wallet also integrates with the Crypto.com Exchange, providing seamless access to trading and liquidity.

Trading Arena

The Trading Arena is a feature on Crypto.com that offers users the opportunity to participate in trading battles and competitions. Users can compete against each other to showcase their trading skills and win attractive prizes. This feature adds a gamified element to the trading experience and promotes community engagement.

Referral Program

Crypto.com Exchange has a referral program that incentivizes users to refer their friends to the platform. Referrers can earn up to $2,000 in CRO for each successful referral, as well as 50% of their friends’ trading fees. There are no referral limits, and the referral bonus is credited instantly once all requirements are met.

Strategic Partnerships

Crypto.com has established strategic partnerships with various organizations and projects in the cryptocurrency space. These partnerships enable Crypto.com to offer additional services and benefits to its users. For example, partnerships with payment processors and merchants allow Crypto.com users to make cryptocurrency payments at various online and offline establishments.

DeFi Earn

The DeFi Earn feature allows users to earn yield on their cryptocurrencies by participating in decentralized finance protocols. Users can stake their assets and earn interest or rewards in the form of additional tokens. This feature provides users with an opportunity to generate passive income from their cryptocurrency holdings.

DeFi Swap

The DeFi swap feature on Crypto.com Exchange allows users to transfer tokens across different chains, including Ethereum, Cronos, Cosmos, and others. With the in-app capabilities, users can simply switch assets between multiple chains and Cronos. It enables users to engage in decentralized finance protocols and communicate with popular DeFi applications in a simple and fast manner.

Leveraged Trading

For consumers who want to increase their potential returns, Crypto.com Exchange provides leveraged trading alternatives. Leveraged trading allows traders to borrow money in order to enhance their trading position and potentially multiply their profits. This tool allows users to maximize their trading methods and capitalize on market opportunities with increased margin. It should be noted that leveraged trading has risks, and users should proceed with caution and a comprehensive awareness of the hazards involved.

Number of Cryptocurrencies Supported

Crypto.com Exchange supports almost 300 crypto assets, including major cryptocurrencies like Bitcoin, Ethereum, Litecoin, EOS, XRP, CRO, MCO, Stellar Lumens, and many other Stablecoins and tokens. Here is a list of some of the cryptocurrencies supported by Crypto.com

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• EOS (EOS)
• XRP (XRP)
• CRO (CRO)
• MCO (MCO)
• Stellar Lumens (XLM)
• Tether (USDT)
• USD Coin (USDC)
• Binance Coin (BNB)
• Chainlink (LINK)
• Polkadot (DOT)
• Uniswap (UNI)
• Dogecoin (DOGE)
• Shiba Inu (SHIB)
• Solana (SOL)
• Avalanche (AVAX)
• Polygon (MATIC)
• Algorand (ALGO)
• Cosmos (ATOM)
• and many more.

Earn (staking/rewards)

Crypto.com Earn is a multifaceted feature that allows users to earn rewards and interest on their cryptocurrency holdings. It offers several options, including staking, flexible deposits, and fixed-term deposits, all designed to help users grow their crypto assets. Here’s a detailed breakdown:

Flexible Earn

Flexible Earn allows users to deposit their cryptocurrencies and withdraw them at any time without penalties or restrictions. It’s a convenient way to earn passive income on your crypto holdings while maintaining liquidity. It offers a wide range of cryptocurrencies for Flexible Earn, including popular options like Bitcoin (BTC), Ethereum (ETH), and stablecoins like USDC and USDT. The interest rates for Flexible Earn can vary depending on the crypto asset and market conditions, but they are usually higher than those offered by traditional banks for savings accounts.

Fixed-Term Deposits

Fixed-Term Deposits allow users to lock in their crypto holdings for a specific period, ranging from one month to three months. In return, users receive higher interest rates compared to Flexible Earn. The interest rates for Fixed-Term Deposits are predetermined, offering users clarity on their earnings. Rates may vary depending on the duration of the deposit and the crypto asset chosen.

Crypto Staking

Crypto.com allows users to stake specific cryptocurrencies, such as CRO (Crypto.com Coin) or other supported assets, to participate in the Crypto.com ecosystem. Staking provides benefits like enhanced rewards and access to exclusive features and perks. The options may vary, but CRO is often a prominent choice for staking within the Crypto.com ecosystem.

Customer Service

Crypto.com Exchange offers customer support through email, Twitter, or live chat. Unfortunately, they do not have a call center for customer support. When filing a complaint, the customer support team typically responds within 24 hours. There have been some complaints about delayed responses, but we did not encounter this issue during our Crypto.com review. Their help page contains well-written articles and a detailed guide for using each feature. You may also use the chat-bot feature, which is similar to live support. The automated support function provides the best solutions to your questions, and if you’re not satisfied, will direct your queries to a live person. Social media channels are also available for connecting with Crypto.com, although they are not official support channels.

Hardware Compatible

Crypto.com users can secure their coins in cold storage as the platform is compatible with Ledger hardware wallets and Ledger live.

SPV or Full Node

Crypto.com functions as a cryptocurrency exchange and wallet service, and it is important to note that it does not operate as a Bitcoin or blockchain node. While it offers various features, such as wallet services and staking, it does not mandate that users run full nodes or engage in SPV verification. Depositing, trading, and withdrawing cryptocurrencies are all possible for users without the need to operate their own nodes.

Who Crypto.com Exchange Best Suited For?

Crypto.com Exchange is a versatile platform that caters to a wide range of users, from beginners to experienced traders and investors. Here are the groups of users that the exchange is best suited for:

• Beginners: Crypto.com Exchange is a good choice for beginners, with an intuitive interface and numerous learning resources. The exchange offers a simple UI flow via DeFi Earn for staking, claiming rewards, unstaking, and redelegation.
• Experienced Traders: Crypto.com is also a good fit for experienced traders, with low trading fees, deep liquidity, and institution-level security measures. The exchange offers a wide range of innovative financial services, such as trading options, tools, and ways to make money with crypto.
• Investors: The platform also fits investors of almost all skill levels. It offers staking services, which allow users to earn rewards for holding certain cryptocurrencies on the platform and supports almost 300 crypto assets, including major cryptocurrencies like Bitcoin, Ethereum, Litecoin, and many other Stablecoins and tokens.
• Day Traders: The exchange offers spot, margin, and futures trading types, as well as other advanced trading instruments like trading bots.

Crypto.com Pros & Cons

Pros

• One-stop platform for crypto trading
• Wide range of innovative financial services
• Offers crypto debit card
• Supports almost 300 crypto assets
• Offers staking services
• Institution-level security measures
• Low trading fees
• Beginner-friendly
• Over 80 million users worldwide
• NFT marketplace

Cons

• Customer support is slow at times
• Limited availability in some countries
• No call center for customer support

Services Offered

• Spot Trading: The exchange allows users to trade a wide range of cryptocurrencies in real-time.
• Margin Trading (Beta): The margin trading feature allows users to borrow funds to trade larger positions. It offers the potential for higher returns but involves increased risk.
• Crypto Staking: Users can stake cryptocurrencies like CRO to earn rewards and benefits, such as higher cashback rates on the Crypto.com Visa Card and priority access to platform features.
• Crypto.com Visa Card: Crypto.com offers Visa Cards that allow users to spend their cryptocurrency holdings for everyday purchases.
• OTC Desk: The Over-the-Counter (OTC) Desk is designed for high-volume and institutional traders. It offers personalized service, competitive pricing, and deep liquidity.
• Crypto Wallet: Crypto.com provides a secure cryptocurrency wallet that allows users to store, send, and receive various cryptocurrencies.
• Trading Arena: Trading Arena offers educational resources, trading tutorials, market analysis, and trading strategies to help users enhance their trading skills.

How to Create an Account?

Step 1: Go to the official Crypto.com Exchange website (https://crypto.com/exchange) using your preferred web browser.

Step 2: Look for the blue “Sign Up” button on the homepage and click on it. This will direct you to the account registration page.

Step 3: Enter your email address and choose a strong password for your account. Make sure to use a password that is unique and not easily guessable.

Step 4: Read through the terms of service and check the box to indicate that you agree to them. It’s essential to understand the terms and conditions before proceeding.

Step 5: Complete the captcha verification to prove that you are not a robot.

Step 6: Once you have filled in all the required information, click on the “Sign Up” button to proceed.

Step 7: Check your email inbox for a verification email from Crypto.com Exchange. Click on the verification link provided in the email to verify your account

Step 8: Your account is now ready. You may be prompted to provide additional information to complete the account setup process. This may include personal details, such as your full name, date of birth, and address.

How to Proceed with a Transaction?

How to Make a Deposit?

Step 1: Log In

Visit the Crypto.com Exchange website (https://crypto.com/exchange) and log in to your account using your email address and password.

Step 2: Navigate to the Wallet Section

Once logged in, locate and click on the “Wallet” section, usually found in the top navigation menu.

Step 3: Choose the Cryptocurrency

In the Wallet section, you will see a list of supported cryptocurrencies. Click on the cryptocurrency you want to deposit. If you want to deposit fiat currency, look for options like USD, EUR, or other supported fiat currencies.

Step 4: Click on Deposit.”

After selecting the cryptocurrency or fiat currency, you’ll see options for “Deposit” and “Withdraw.” Click on “Deposit.”

Step 5: Generate a Deposit Address

Crypto.com Exchange will provide you with a unique deposit address for the selected cryptocurrency. This address is where you will send your funds. Make sure to double-check that you’ve selected the correct cryptocurrency.

Step 6: Copy the Deposit Address

Click on the “Copy” or “Copy Address” button next to the deposit address. This will copy the address to your clipboard.

Step 7: Send Funds to the Deposit Address

Open your cryptocurrency wallet or the platform where your funds are stored. Create a new transaction or withdrawal request. Paste the deposit address you copied in Step 6 into the recipient address field. Specify the amount you want to deposit, review the transaction details, and then complete the deposit.

How to Make a Withdrawal?

Step 1: Launch the application, fiil out your credential and proceed to log in.

Step 2: Once in, navigate to the payments page where you should locate the digital coin you want to withdraw.

Step 4: After selecting the cryptocurrency, you’ll see options for “Deposit” and “Withdraw.” Click on “Withdraw.”

Step 5: You’ll be presented with a withdrawal form. Fill in the necessary information including your receiver’s wallet address, amount.

Step 6: Now double check all the details provided. Remember you may lose your funds permanently if you provide wrong details. Also confirm that you have selected the right network.

Step 7: If all looks good, go ahead and hit the “Submit” button to complete your withdrawal. Funds should reflect in your wallet after approval and network confirmation.

Payment Methods

Crypto.com Exchange supports a range of payment methods to fund your account. Here are the various payment methods supported by the platform:

• Credit and Debit Cards: Crypto.com Exchange accepts credit and debit cards as a payment method.
• Bank Transfers: Users can fund their Crypto.com account with a bank transfer.
• Digital Wallets: Crypto.com Exchange supports mobile wallets, such as Google Pay and Apple Pay.
• Cryptocurrencies: Users can fund their Crypto.com account with cryptocurrencies.
• Buy Now, Pay Later (BNPL): Crypto.com Exchange supports BNPL payment options.

Crypto.com Exchange Supported Tokens

Here are the types of tokens supported by Crypto.com Exchange:

• Cryptocurrencies: Crypto.com Exchange supports over 250 digital assets with spot trading, futures, and advanced order types. The top crypto assets available on the platform include BTC, ETH, USDT, USDC, BNB, BUSD, ADA, XRP, SOL, DOGE, MATIC, DAI, and SHIB.
• Exchange tokens: Exchange tokens are native to crypto exchange platforms and are used for facilitating exchange between other tokens or as gas utility payments on these exchanges. Crypto.com Exchange supports several exchange tokens, including Binance Coin (BNB), Gemini USD, FTX Coin for FTX Exchange, OKB for Okex exchange, KuCoin Token, Uni token, HT for Huobi exchange, Shushi, and CRO for Crypto.com.
• Stablecoins: Crypto.com Exchange supports various Stablecoins, such as Tether (USDT), USD Coin (USDC), Dai (DAI), and Paxos Standard (PAX).
• Non-fungible tokens (NFTs): Crypto.com Exchange provides an NFT marketplace where users can buy, sell, and trade NFTs.

Is Crypto.com Exchange Safe and Legit?

Crypto.com Exchange is widely regarded as a trustworthy and legitimate cryptocurrency platform, distinguished by regulatory compliance, stringent security measures such as two-factor authentication (2FA) and cold storage, insurance coverage for user assets, and a proven track record in the industry. The platform maintains a transparent approach, informing users of new advancements on a regular basis and providing responsive customer assistance. Positive user reviews and a huge user base add to its safety profile. The adherence of Crypto.com Exchange to regulatory criteria such as AML and KYC contributes to its validity, and it possesses licenses from reputable bodies such as the UK Financial Conduct Authority (FCA) and AUSTRAC in Australia. However, consumers are recommended to exercise caution, perform their own research, and follow security best practices when using any cryptocurrency exchange, taking into account their particular risk tolerance, as the regulatory landscape for cryptocurrencies may change over time.

Security

The security of user assets and personal information is a primary priority at Crypto.com Exchange. To do this, the platform employs powerful encryption techniques to safeguard data and communications, as well as tight authentication procedures to ensure that only authorized users may access accounts. Two-factor authentication (2FA) is also offered, which adds an additional degree of security to user accounts. Cold storage is also used for the majority of user cash, ensuring that private keys controlling assets are kept offline and inaccessible to hackers. Crypto.com Exchange seeks to offer a secure environment for maintaining and trading bitcoin assets by implementing these comprehensive security measures. Users must, however, take responsibility for their security by using strong passwords, enabling 2FA, and staying up to date on emerging security best practices.

User Interface

Crypto.com Exchange boasts an intuitively designed user interface, catering to a diverse user base from beginners to experienced traders. Its clean and well-organized layout ensures easy navigation and quick access to vital information. The customizable dashboard allows users to arrange widgets and access real-time market data, while a comprehensive market overview showcases cryptocurrency prices, trading volumes, and price charts, aiding in informed decision-making. With a wide range of trading pairs and advanced trading tools such as limit and market orders, users can efficiently manage their portfolios. The Exchange also offers a mobile app for on-the-go trading, interactive price charts with various timeframes and technical indicators for in-depth analysis, and straightforward participation in staking and earning opportunities. Through accessible customer support channels and transparent information about security features like two-factor authentication (2FA), Crypto.com Exchange provides a user-friendly environment for users to navigate the world of cryptocurrency trading and asset management.

How to Use Crypto Exchange on Android & iOS?

To use the Crypto.com app, follow these steps:

Step 1: Open the Crypto.com app and enter your passcode or use biometric authentication to log in.

Step 2: The home page provides all the essential information and functionality to begin trading crypto. Favorite cryptocurrencies which are starred through the “Track” section are shown here for convenience.

Step 3: To buy or sell cryptocurrencies, click on the “Trade” button.

Step 4: To deposit or withdraw funds, click on the “Wallet” button.

Step 5: To view your transaction history, click on the “Activity” button.

Step 6: To set up two-factor authentication (2FA), go to your profile and select Security > Account Password and 2FA.

Step 7: To store your cryptocurrency securely, simply deposit the amount in your Crypto.com wallet. The exchange stores all user cryptocurrencies offline in cold storage.

How to Use Crypto Exchange on Desktop?

To use the Crypto.com Exchange on a desktop computer, follow these steps:

Step 1: Visit the Crypto.com website on your desktop browser.

Step 2: Click on the “Exchange” tab located on the top menu.

Step 3: If you already have an account, click on “Log In” and enter your credentials. If not, click on “Sign Up” and follow the registration process to create a new account.

Step 4: Once logged in, you will be directed to the Exchange interface.

Step 5: Familiarize yourself with the different sections of the interface, such as the trading pairs, order book, price chart, and trading history.

Step 6: To place a trade, select the trading pair you want to trade and choose the type of order (market or limit).

Step 7: Enter the desired amount and price for your trade, and review the order details.

Step 8: Click on “Buy” or “Sell” to execute the trade.

Step 9: Monitor your portfolio by checking the “Balances” section, where you can view your available funds, trading history, and open orders.

Step 10: To withdraw funds, click on the “Withdraw” button, enter the withdrawal details, and confirm the transaction.

Step 11: Remember to exercise caution when using the Crypto.com Exchange and ensure the security of your account.

Backup & Restore

Backing up and restoring your Crypto.com Exchange is an essential process to protect against data loss. Here are the steps to back up and restore your Crypto.com Exchange:

Backup:

Step 1: Open the Crypto.com app and log in to your account.

Step 2: Navigate to the “Settings” section and select “Recovery Phrase” under the “Security” section.

Step 3: Tap “View Recovery Phrase” and enter your passcode to view your recovery phrase.

Step 4: Write down the 12-word recovery phrase on a piece of paper and store it in a safe place.

Step 5: Confirm that you have written down the recovery phrase correctly.

Step 6: Tap “Continue” to complete the backup process.

Restore:

Step 1: Open the Crypto.com app and log in to your account.

Step 2: Navigate to the “Settings” section and select “Recovery Phrase” under the “Security” section.

Step 3: Tap “View Recovery Phrase” and enter your passcode to view your recovery phrase.

Step 4: Enter the 12-word recovery phrase in the correct order to restore your account.

Step 5: Follow the on-screen instructions to complete the restore process

Troubleshooting

Here are some troubleshooting tips for common issues that users may encounter while using Crypto.com Exchange:

• Login issues: If you are having trouble logging in to your Crypto.com account, ensure that you have entered the correct login credentials. If you have forgotten your password, you can reset it by clicking on “Forgot Password” and following the on-screen instructions..
• Technical issues: If you are experiencing technical issues with the Crypto.com app or website, try checking your internet connection and restarting your device. If the issue persists, check if the app or website is down by visiting the Crypto.com status page or social media channels. If the app or website is down, wait for the issue to be resolved.
• Deposit or withdrawal issues: If you are having trouble depositing or withdrawing funds from your Crypto.com account, ensure that you have selected the correct payment method and entered the correct information..
• 2FA issues: If you are having trouble setting up or using two-factor authentication (2FA), ensure that you have followed the correct steps to set up 2FA. If you are still having issues, contact customer support.
• App not working: If the Crypto.com app is not working, try uninstalling and reinstalling the app from the app store. This can fix issues with corrupted files and installation errors.

Overall, if you encounter any issues while using Crypto.com Exchange, try troubleshooting the issue by checking your internet connection, restarting your device, or contacting customer support for assistance.

Crypto.com Exchange Alternatives

Crypto.com Exchange Vs Coinbase Exchange

Crypto.com Exchange and Coinbase Exchange are both popular cryptocurrency exchanges. While they offer similar services, there are some differences between the two platforms.

• Supported Cryptocurrencies: Crypto.com Exchange supports over 250 cryptocurrencies, whereas Coinbase Exchange supports over 200 cryptocurrencies.
• Educational Resources: Coinbase Exchange focuses on beginner education and provides resources to help users learn about cryptocurrency. Crypto.com Exchange offers limited educational materials.
• Products and Features: Both platforms offer products like Visa cards, crypto pay at checkout, and ways to earn crypto. Crypto.com has a native coins CRO, but its counterpart doesn’t..
• Security Measures: Both exchanges have strong security measures, including two-factor authentication and insurance against damage or theft. Coinbase stores 98% of cryptocurrency in cold storage, while Crypto.com stores 100% in cold storage.
• Fee Structure: Crypto.com Exchange uses a maker-taker fee model, with fees ranging from 0.0% to 0.75% for makers and 0.05% to 0.075% for takers. Coinbase Exchange charges fees ranging from 0.00% to 0.40% for makers and 0.05% to 0.60% for takers.
• Deposit and Withdrawal Fees: Both exchanges do not charge fees for depositing fiat currency via bank transfer. They do charge fees for debit card payments. Network fees apply for digital coins depending on the specific cryptocurrency being moved.

Crypto.com Exchange Vs Kraken Exchange

Both Crypto.com Exchange and Kraken Exchange are popular cryptocurrency exchanges that provide a variety of services to its users. Here are a few important distinctions between the two:

• Range of Cryptocurrencies: Crypto.com Exchange supports a wider range of cryptocurrencies, with over 250 options available for trading . Kraken, on the other hand, offers trading for about 200 cryptocurrencies.
• Additional Features: Crypto.com Exchange offers additional features such as Visa cards, which allow users to spend their cryptocurrencies, and crypto pay at checkout. However, Kraken does not provide these specific features.
• Beginner Education: Coinbase Exchange focuses on educating beginners and providing materials to help users understand and negotiate the bitcoin market. Crypto.com does not have a dedicated basic education section.
• Security Measures: Both exchanges prioritize security, but Kraken is known for its industry-standard security measures. Crypto.com also has robust security measures in place.
• Fee Structures: Kraken offers competitive fees, with a maker fee of 0.16% and a taker fee of 0.26% for spot trading. On the other hand, Crypto.com charges 0.075% for both makers and takers.
• Deposit/Withdrawal Fees: Kraken charges deposit and withdrawal fees, which vary based on the currency and payment method. Crypto.com does not charge deposit fees but you may incur withdrawal fees depending on the cryptocurrency

Final Thoughts

Based on its security features and supported payment methods, Crypto.com Exchange is a legitimate and secure platform for users to buy, sell, and trade cryptocurrencies. The exchange incorporates two-factor authentication (2FA) and cold storage to ensure the protection of user funds. Users can choose from a variety of payment methods, such as credit and debit cards, bank transfers, digital wallets, cryptocurrencies, BNPL, prepaid cards, and vouchers. With support for more than 250 cryptocurrencies, exchange tokens, stablecoins, and NFTs, Crypto.com Exchange provides users with a comprehensive range of options for trading, investing, staking, or spending their crypto. In comparison to other exchanges, like Coinbase Exchange, Crypto.com Exchange offers lower fees, a broader selection of cryptocurrencies, and a more extensive crypto ecosystem. If you are looking for a platform with a wide range of features and a substantial coverage of digital coins, Crypto.com Exchange may be worth considering.

Q&A Session

In this section, Eugene Abungana will address your inquiries and the most common questions regarding XYZ and offer guidance to newcomers in the field. Feel free to submit your questions through our contact form, and we will strive to respond within 48 hours.