Crypto.com Review - Extensive ecosystem with intuitive mobile application

Company Crypto.comFounded in 2016, it has grown into a full-fledged and well-known international cryptocurrency fungus within a few years. Its crypto ecosystem consists of applications Crypto.com, Crypto.com exchanges, DeFi swaps and wallets, Crypto.com Pay, Crypto Earn, Crypto Lending and many other services. Crypto.com works with regulators around the world to provide the most convenient way to buy, sell, trade and spend cryptocurrencies. Crypto.com application allows users to buy more than 250 cryptocurrencies, earn high interest on their cryptocurrencies, manage their Crypto.com Visa card and easy to make cryptopayments, in addition to many other useful features. DeFi Wallet is self-service, so users can have full control over their private keys.

Basic information

Page type	cryptocurrency exchange and exchange office
Easy for beginners	Yes
Mobile application	Yes
	Hong Kong
	2016
	cryptocurrencies, fiat (can be via credit card)
	Cryptocurrencies, fiat
	200+
	250+
	20+
	high
	active 24/7
Own cryptocurrency	Yes, Crypto.com coin (CRO)
Own wallet	No
Page	https://www.crypto.com/

Crypto.com reviews

Notable features include:

• Crypto.com Visa map - Pay the cryptocurrency and get up to 8 % cashback.
• Application - Buy more than 250 cryptocurrencies and manage your Crypto.com card, which allows users to pay for everyday purchases with cryptocurrencies.
• Crypto Earn - Insert a crypto and get up to 8 % (up to 14 % for stablecoins), paid out weekly in the cryptocurrency you store.
• Crypto Credit - Secure crypto loan with up to 50 % LTV.
• Crypto.com Exchange - Trade with the best cryptocurrencies with high liquidity, the best realization prices and the lowest fees for creators and recipients in the industry. You can also refer a friend to the stock market and get up to $ 2,000 referral bonus and 50% commission on trading fees for one year.
• Crypto.com NFT - Users can access exclusive NFT collections from artists, musicians, athletes and brands by registering at Crypto.com NFT. The user-friendly platform allows users to buy NFT only with their credit / debit card and sell collectibles at a marketplace where offers start at $ 0.
• The Syndicate - Stock traders have access to The Syndicate and buy cryptocurrencies at up to 50% discount.
• Supercharger - Users of the application and the exchange can insert CROs into the Supercharger pool and obtain favorite DeFi tokens as rewards. The amount of the reward is calculated every day and is based on the liquidity provided by the user.
• DeFi Swap - This is a Uniswap V2 fork and allows users to swap and farm DeFi coins at the best available price. They can also connect and securely store their crypto in their Crypto.com DeFi wallet.
• DeFi Earn - Users can get the best returns by entering their tokens in the log with the highest APY at the time of deposit, including CRO staking
• Crypto.com Price - Page Having cryptocurrency rates at Crypto.com provides users with an easy way to track the latest token prices, market movements, market capitalization assessments and token information.

History

The platform was launched as Monaco Technologies GmbH in June 2016. The company was founded by its current CEO Kris Marszalek and started with the slogan "Spend anywhere, free of charge".

In the first half of 2017, Monaco launched its own token, MCO, which was funded through the ICO. The ICO took place from May 18 to June 18, and Monaco managed to obtain cryptocurrencies worth approximately $ 26.7 million by selling 12,135,542 MCO tokens (out of 31,587,682 of the total offering).

In July 2018, Monaco announced its rebranding on Crypto.com and a few months later began shipping its Visa card. At the same time, the company announced the launch of the Crypto.com Chain with a native CRO token.

At the end of 2019, Crypto.com launched its own crypto-to-crypto exchange to gain more market share among crypto traders. The company also introduced its Pay, Crypto Earn and Crypto Credit services, among others. Crypto.com Visa cards began shipping to the United States.

In 2020, the company launched DeFi Wallet and DeFi Swap services and began supplying Visa cards to its European customers. The company also decided to discard the MCO token entirely in exchange for a CRO.

Crypto.com boasts over 10 million users worldwide. The company is headquartered in Hong Kong, but has offices around the world, including Malta, Bulgaria, Singapore, the United States, China, Japan, Russia, India, the United Kingdom, Australia and Argentina. The platform has grown into a global crypto-giant with a rapidly growing user base.

Upcoming plans include expanding the Visa card, launching additional features on the Crypto.com Exchange, and further developing the DeFi offering and the NFT platform.

Crypto.com charges

Crypto.com is at the bottom when it comes to fees for trading on centralized exchanges. Although different products have different prices, it is one of the best fiat-to-crypto gates in the cryptocurrency sector.

Fees in the Crypto.com application

In our experience, the application is by far the easiest way to buy, sell, send, receive, exchange and pay with cryptocurrencies. The application allows you to insert cryptocurrencies for free, allows free exchanges between cryptocurrencies and supports free transfers to the Crypto.com exchange and to the DeFi wallet.

However, he charges a fee for withdrawing cryptocurrencies to an external address, which varies according to the cryptocurrency being downloaded.

Crypto.com Fees

The Exchange charges trading and withdrawal fees. Trading fees are based on your 30-day trading volume, where you get additional discounts as your trading volume increases. You also have the option to stack CRO tokens and pay CRO trading fees. The more CROs you stack, the bigger your business discount will be. As a bonus, you get 10 1TP2Year per year. All you have to do is stack at least 5,000 CROs and go through KYC verification to get discounts on trading fees.

Derivatives trading fees

VIP retail clients on the Crypto.com exchange can use the following rates:

For cryptocurrency withdrawals, Crypto.com charges a fee that varies according to the cryptocurrency being downloaded. Crypto.com charges standard fees for cryptocurrency withdrawals. There are no fees for cryptocurrency deposits. A clear overview of all fees can be found at this page.

Crypto.com DeFi Swap charges

Unlike the Application or Exchange, the Crypto.com DeFi Swap allows you to attach your personal Ethereum wallet for simple and easy ERC-20 token exchange. Usually you will pay 0.3% fees to liquidity providers to support the operation of smart contracts.

You can perform Defi Swap not only through your DeFi wallet Crypto.com, but you can also use the popular application MetaMask or Wallet Connect. You will have to pay gas fees when transferring cryptocurrencies in the Ethereum network. You can conveniently choose between average, fast and super-fast transaction confirmation speeds, where average and super-fast represent low and very high transaction fees.

Crypto.com tutorial

Crypto.com is a crypto ecosystem suitable for beginners, which makes it very easy to buy, exchange and spend cryptocurrencies.

Registration

Crypto.com is a fully regulated crypto company, which means that it meets all the necessary financial and risk prevention regulations. As a result, you will not be able to use its services, whether for the app or the exchange, anonymously.

You will be asked to verify your identity during registration. You will need to provide the platform with:

• Full name
• Picture of an officially issued identity card
• Selfie as proof that you exist.

To get a Visa card, you will also need to verify your address with your current account (not older than 3 months).

It can take up to 3 business days for your account to be verified.

Crypto.com app

The easiest way to access Crypto.com services is to download a mobile application. It allows you to buy and sell cryptocurrencies, exchange fiat currencies, manage your Crypto.com Visa card, access Crypto Earn and Crypto Credit, shop with cryptocurrencies and much more.

It also allows you to track your portfolio, send coins to Crypto.com, withdraw cryptocurrencies for external wallets, and also manage deposits on the platform. Overall, the app is like a Swiss Army knife for cryptocurrencies - it works as your personal financial center for Fiat and cryptocurrencies.

The application is available for both iOS and Android devices and can be downloaded from the App Store or Google Play.

Crypto.com stock exchange

It is a specialized crypto-to-crypto exchange that is aimed at more experienced traders. It also offers trading in derivatives and margins with up to 50x and 10x leverage. The stock exchange itself has a neat design, but it is oriented towards traders, and orientation may not be easy for complete beginners. From February 2021, you can enter limit, market and advanced stop-limit / stop-loss orders.

Users can also access Crypto.com Lending, purchase the newly launched Coins at a discount on The Syndicates, enter Trading Arena competitions and earn high returns by depositing CROs in Supercharger liquidity pools. Merchants are also entitled to additional discounts on trading fees by paying trading fees with native tokens Crypto.com, CRO.

The exchange can be linked to your application account, making it easy to transfer coins back and forth in case you need to make a deposit or withdrawal.

Trading can take place via the web interface or via the API. As you can see from the screeshot below, the Planning and Trading screen is provided by TradingView.

Margin Trading on the Stock Exchange Crypto.com allows you to borrow cryptocurrencies on the stock exchange for trading on the spot market. Eligible users can use the margin loan as leverage to open a position that is larger than your account balance.

The exchange also offers over 40 quarterly futures and perpetual contracts. These allow traders to buy or sell the value of assets, "while the underlying asset itself is never traded - allowing for better risk management. Perpetual contracts do not expire or have a settlement date, and users can hold their positions for as long as needed.

Crypto.com DeFi swap

DeFi Swap is a relatively new DeFi exchange that can be easily connected to a Crypto.com DeFi wallet. It allows you to trade the hottest DeFi tokens in a non-custodial way, which means you can exchange coins privately and without compromising your private keys.

DeFi Swap is accessible via the web and mobile application.

You can also participate in the liquidity of the pool. Each liquidity pool consists of reserves of two ERC-20 tokens and issues an ERC-20 pool token as proof of the proportional ownership of the underlying reserves;

Pool token holders are entitled to a swap fee paid by users who exchange through liquidity pools. Swap fees will first go to the reserves of the relevant liquidity funds. Users receive their proportional share when they return the pool token in order to claim their share of the reserves.

As a liquidity provider, in addition to sharing swap fees, you can easily increase and obtain a CRO by stacking a CRO through the instrument boost. It is up to your preferences to decide how many CROs to bet and choose from a period of 1-4 years.

The Syndicate

The Syndicate is a fundraising platform for the most promising crypto projects that list their coins or tokens on the Crypto.com exchange. Catching Crypto.com Coin holders will receive a discounted discount token allocation for these events.

To participate in the sale of Crypto.com Exchange Syndicate tokens:

• Register as a user.
• Pack at least 5,000 CROs.
• Use CRO to subscribe with 50% discount.

One thing I like about Syndicates is that you can sign up for one, and when it's active, you'll get personalized information about how much of the target cryptocurrency you can buy (because it varies by the number of subscribers to each Syndicate). Then you can choose whether to continue or back down, if you back up, there are no sanctions. This means you can sign up for Syndicates, check the offer to see if it's worth it, and then continue or resign as needed.

Staking

Supercharger

Supercharger is a simple, flexible and secure liquidity extraction platform that allows users to insert tokens (with the option to select at any time) to earn the most popular DeFi tokens on Crypto.com.

Multiple deposits are allowed per user. Minimum CRO 100 per deposit Once the billing period for the event expires, you will receive rewards (evenly spread over 30 days) based on your liquidity score.

How to participate?

Crypto.com application

• Open the application
• Look for the Supercharger banner on the home screen or in the Super App menu.
• Click on the latest Supercharger event by clicking on "Learn more"
• Select "Charge now"
• Select a supported cryptocurrency from your crypto wallet and enter the amount you want to deposit into the fund.
• Once the event billing period expires, accept the reward amount allotted.
• Wait for the rewards to be distributed on the stock exchange or in your wallet, depending on what you choose.

Crypto.com Exchange

• Log in to the Crypto.com Exchange
• Go to the Supercharger page
• Click on Supercharger event
• Insert into the pool by clicking on "Charge now"
• Accept the amount of the reward that was awarded to you
• Wait for the distribution of rewards

Soft staking

Crypto.com supports Soft Staking of cryptocurrencies and stablecoins. Soft staking is a feature that allows you to earn interest on your capital. It's a feature you need to activate (it's very easy).

After activation, Soft staking starts automatically when you hold at least the minimum requirement for a specific coin on the stock exchange. Then you get interest (paid weekly) and you can withdraw your currency (capital and interest) at any time. Cryptocurrency in pending orders is included in soft staking as well.

Hard Staking - CRO 180 days

On the stock exchange, CRO can be stacked for 10 % pa for 180 days. Interest is paid daily. You can add another CRO to the staking, but when you do; the 180 day counter is reset

You can only have one 180-day CRO deposit running at a time, you can't have 2 or more runs in parallel.

Crypto earn in application

This feature can only be used in an application. Put your preferred cryptocurrency in Crypto Earn and start educating interest. The longer your deposit, the higher the interest rate - which can be 1 day, 1 month or 3 months. Interest is paid weekly. You can combine as you like. So, for example, you can initiate a new BTC deposit every month, which will also result in 3x 3-month deposits. This will allow you to increase the interest you earn regularly.

Crypto.com Visa map

Crypto.com users can order a Visa card to spend their cryptoactive. While the Midnight Blue card is free (plastic), other levels of cards require you to stack a certain amount of CRO tokens, for which you will be provided with a composite metal card with other benefits.

At the most basic level, you get 1 % back from your expenses, as well as ATM withdrawals and currency exchange transactions worth $ 200 a month. Higher card levels have higher withdrawal and exchange limits, as well as rewards such as discounts on Spotify, Netflix and Amazon Prime.

Crypto.com Security

Crypto.com practices a "Defense in Depth" culture, which means that security processes are built into all aspects of its business.

In terms of services, Crypto.com stores 100 % of its user resources in offline cold repositories. The security solution works with Ledger and leverages its institutional Ledger Vault storage solution, which uses technologies such as hardware security modules (HSMs) and multi-signature keys.

In addition, Crypto.com's cold storage has $ 500 million in insurance coverage, which includes direct and indirect custodial coverage, physical damage, and third-party theft.

When it comes to protecting hot wallets, Crypto.com also uses HSM and multi-signature keys. The funds held in its hot wallets are corporate funds and make up only a fraction of the company's total holdings, which are sufficient for customers' daily withdrawal requests.

Overview of other stock exchanges and exchange offices you will find here

When it comes to fiat currency security, customer deposits are held in highly regulated deposit bank accounts around the world, thus benefiting from local regulations. For example, US customer balances in USD are protected by FDIC insurance, which covers up to $ 250,000. In any case, Crypto.com allows you to retain ownership of your fiat funds, which means that neither Crypto.com nor its creditors can claim them.

In terms of infrastructure security, Crypto.com uses Amazon Web Services (AWS), which come with the following security features:

• Firewall network and web applications.
• Managed transmission encryption with integrated Transport Layer Security (TLS) across all services.
• Automatic encryption of all traffic.
• Business continuity planning for outages and attack prevention.
• Logging, monitoring, automatic threat detection and real-time analysis.
  … And other safety measures at industrial level.

These infrastructure security measures operate in tandem with a number of internal risk controls:

• A specialized internal team that inspects all deposits for compliance with KYC, AML and Alcohol, Tobacco and Firearms (ATF) regulations.
• All withdrawals are subject to examination of applications to identify suspicious amounts.
• Manual approval of large fiat and crypto transactions.
• Top UI analytics tools.
• Strict access control measures for both offline and hot wallets.
• Testing through numerous attack vectors and external audits.
• Hacker One Bug Bounty program for responsible vulnerability detection.

After the user page, Crypto.com allows you to protect your accounts with two-factor authentication (2FA), as well as a combination of passphrase, password, biometric data (fingerprint and face ID), email and telephone authentication. In addition, the DeFi wallet allows you to keep your private keys, which means you can save your resources yourself instead of relying on platform security.

It is a highly secure and regulated crypto platform with numerous security certifications and evaluations from top security auditors.

As you can see, Crypto.com follows the "gold standard" of security measures and takes the security of its users' data and funds extremely seriously. As such, it is one of the safest cryptoplatforms on the market.

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All content in this article is for informational purposes only and does not in any way serve as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.