Last Updated: August 9, 2021
- App: Android & iOS
- Ease of Use: 4/5
- Earn Interest: Up to 14%
- Buy and Sell: Yes
- Wallet Service: Yes
- Advanced Trading: Yes
- Supported Countries: 90+
- Fees: 0.04%-0.1%
Crypto debit cards
- Low fees
- Excellent app
- Spend crypto via VISA card
- Earn interest from stored crypto
- Some geo-restrictions
- Staking required for best perks
- No customer support phone line
What Is Crypto.com?
Crypto.com is a cryptocurrency and financial services platform with one of the fastest-growing apps in the industry. Kris Marszalek founded the company in 2016 under the name Monaco before rebranding it as Crypto.com the following year.
Initially a crypto payment platform, its trading services now make up most of the business.
But is Crypto.com a good exchange?
Absolutely, but it offers much more than that. You can think of it more like a bank for cryptocurrencies than a simple exchange or place to buy crypto.
Its 10+ million users can grow an interest-earning asset portfolio, get a cashback by using a crypto debit card and even obtain crypto loans without a credit check.
Our Crypto.com review will further explore the possibilities on offer.
How Does Crypto.com Work?
Crypto.com works via a web browser or a highly praised mobile app. Moreover, it has many appealing security measures.
With all supported cryptocurrencies, users can:
- Buy and sell using a simple interface at market value
- Get deeper into trading with an advanced exchange platform
- Perform limit/stop-limit orders
- Leverage the market with margin trading, using borrowed funds
- Speculate with derivative trading
- Earn up to 14% interest by investing in deposit tokens
All the features are available under a single website or app, though there are some differences depending on the country you live in.
For example, all services are available across the US, except for the State of New York. On the other hand, Ghana and Venezuela are not supported at all.
Let’s dig in with Crypto.com reviews of each individual feature:
Crypto.com Card Review
The Crypto.com card is an innovative concept with many extra perks. Even the metal design is appealing.
You can use it in any online or offline location where VISA is accepted. And although credit is a service it does provide, this is not a Crypto.com credit card. Instead, it can top up your existing card.
Well, your DeFi wallet converts funds into fiat currency for your linked debit card to use. It allows you to spend cryptocurrencies easily, or in effect, cash out, without the tedious process of selling and withdrawing it in fiat.
There are five tiers, each providing progressively better cashback rewards:
- Midnight Blue: $0 stake, 1% cashback, $200/mo free ATM withdrawal limit.
- Ruby Card: $400 stake, 2% cashback, free Spotify, $400/mo free ATM withdrawal limit.
- Royal Indigo or Jade Green Card: $4,000 stake, 3% cashback, $800/mo free ATM withdrawal limit. Free Spotify & Netflix, airport lounge access.
- Frosted Rose Gold or Icy White Card: $40,000 stake, 5% cashback, $1,000/mo free ATM withdrawal limit. Free Spotify, Netflix, Prime, and 10% off Expedia. Airport lounge and one guest, and more.
- Obsidian Card: $400,000 stake, 8% cashback, $1,000/mo free ATM withdrawal limit. All of the perks above, plus 10% off Airbnb and a Private Jet Partnership.
During our Crypto.com Visa card review, we used the app, and everything was extremely straightforward. In short, if you’ve used a banking or payment service online, you can use this without breaking a sweat.
Crypto.com provides the DeFi cryptocurrency wallet, which can be used non-custodial. This means you own the private keys stored locally as a file, backed up by a mnemonic phrase.
Because you have the keys, you have full control, like with a wallet stored on your computer. This makes it more secure than those controlled by a third party.
You can also import your recovery phrase from another wallet into your DeFi one without going through the transaction process.
Ready for trading and other services, you store all your cryptocurrencies in the wallet. You can also send and receive crypto privately, choosing a network fee that suits you.
The more you pay, the faster the transaction clears. Although, different currencies use different networks and fee models, which may take longer to process.
Coins stored in your Crypto.com wallet can also earn up to 14% interest, higher than virtually any traditional fiat savings account. However, saving in crypto is a risk, as virtual currencies are more volatile than most fiat.
The rate you get depends on your base currency, how long you commit to keeping it there, and the amount staked.
For example, a Stablecoin like USDC earns 10% APR (paid weekly) for deposits valued at $400 or less over a three-month period. Stake $40,000 or more, and you can reach the elusive 14% interest. A 1-month commitment loses you 2%, while a flexible schedule knocks off 4%.
Because it’s tied directly to the US Dollar, this is the most stable option, as the name suggests.
Similarly, Bitcoin earns 4.5% interest (paid weekly) for deposits valued at $400 or less over a three-month period. Stake $40,000 or more for the top 8.5% rate.
The difference is that the volatility of a crypto coin can work just as well in your favor as against you.
Digital Currency Exchange
Buying crypto on the spot (the current market value) through the Crypto.com app or web platform is as simple as choosing your desired coin and the currency to purchase. That might be another crypto or fiat. You don’t need any previous trading experience, and the app makes this especially easy.
Although you might find the trading platform daunting at first, it’s just a list of the most popular coins as pairs. It shows the market price, value fluctuation, and some other stats.
So, here are the steps to follow:
First, find or search your pair and then hit the trade button. Second, choose the amount you wish to buy with the handy slider. If trading on the spot, the process will take mere minutes.
Like other exchanges, the Crypto.com exchange USA version is fully functional despite past restrictions. However, New York state residents remain excluded from the list of supported locations due to legal reasons.
Loans from Crypto.com can be issued for amounts up to 50% of your crypto holdings. For instance, if you have 0.4 BTC, you can borrow 0.2 BTC.
Standard APR is 12% but this rate decreases depending on how much you’ve staked (held) over six months.
Unlike traditional loans, you can repay on your own sporadic schedule with no statement deadlines and, therefore, no late fees on Crypto.com.
Anyone in a supported country is eligible, and no credit check is required. All that’s needed is at least $1,000 worth of crypto in your wallet.
Margin trading is the process of using credit to fund trades with the aim of making revenue and profit based on value fluctuations. This is one of the key purposes of using Crypto loans.
Crypto.com supports 3x leverage, which is the amount of crypto a trader can multiply their position by.
So, taking our previous example, if you have 0.4 BTC in your Crypto.com wallet, you can borrow 1.2 BTC.
Trading in derivatives is a P2P agreement/ smart contract based on the value of an underlying crypto asset.
- Futures: A buyer agrees to buy, and a seller agrees to sell at a set date for a set price. It’s a bet that the price will either increase or decrease.
- Options: While a contract is in effect, crypto can be bought and sold at a set price, but no party is obligated to honor the deal. They are given the ‘option’ to do so and act based on their own market views. For example, you could sell your BTC at X price, but nobody is obligated to buy it.
- Perpetual Swaps: Unlike the options and futures method, swaps don’t expire, meaning you can hold out perpetually until a beneficial time in the market. In addition, you don’t have to hold or borrow the underlying digital assets themselves.
Standing for “non-fungible tokens,” NFTs are the hip new thing in crypto and are now embraced by Crypto.com.
You can buy or sell unique digital art with cryptocurrency. You can sign up to receive the latest drops and browse well-known brands and celebrity NFTs for sale.
If you’re a business owner that wants to accept crypto, you can adopt the Crypto.com Pay app and POS solution. There are also online integrations for the likes of WooCommerce, PrestaShop, and OpenCart.
Zero fees for crypto payments make it an excellent option for you and your customers.
Additionally, payments can be made with over 30 cryptocurrencies, including CRO, ETH, BTC, DOT, and DOGE.
CRO is Crypto.com’s own token. It supports its native blockchain that forms part of its merchant services. In addition, CRO can be held as part of your staking requirements for Visa card perks and interest accounts.
You can find the Crypto.com coin price here.
Crypto.com App Review
There’s no denying that the platform is packed with advanced features, but the app is particularly user-friendly. It holds an impressive 4.2/5 score on Google Play and 3.9/5 on the Apple Store.
Signing up from most countries requires a scan of your passport or driver’s license and a selfie. The downside is it can take up to three working days for verification to be processed. Nonetheless, it took less than 30 minutes in the UK during our test.
Once you have selected your preferred fiat currency, you will be taken to the homepage, which displays your fiat balance at the top. Below you can track crypto prices, easily enter the trading section, and carry out transfers in fiat and crypto.
To buy a currency, just tap the buy button beside its info. And if you want to trade, do the same, and more options will appear.
Our Crypto.com review found simple tabs for your Visa card, wallets, and the pay feature for customers and merchants. There’s also a bubble icon for 24/7 chat support.
The gear settings icon lets you configure Two-Factor Authentication, Fingerprint, and set up an anti-phishing code. This is then displayed on all emails so you know they’re genuine.
Crypto.com Supported Currencies
New cryptocurrencies are popping up every day, and Crypto.com aims to support those with staying power. As a result, its current list of cryptocurrencies reaches over 400. Here are some of the most popular traded on the Crypto.com app and site:
|Bitcoin||Bitcoin Cash||Dogecoin||Ethereum Max||Ethereum|
|Ave Interest Bearing||iEarn||Wrapped||NEO||Tether|
Crypto.com supports over 20 fiat currencies with which you can buy digital assets. This can be done via bank transfer or credit/debit card. You can also store the following currencies in your Crypto.com wallet:
- AUD (NPP Network & BPAY Bank Transfers)
- CAD (Bank Transfer)
- EUR (SEPA Bank Transfer)
- GBP (FPS Bank Transfer
- USD (ACH/ Wire Bank Transfer)
- BRL (TED/ DOC/ PIX Bank Transfers)
- USDC (SWIFT Global Bank Transfer)
USDC is known as a Stablecoin and is essentially a cryptocurrency that’s 1:1 to the US dollar. Therefore, you can deposit FIAT US Dollars from your bank account via SWIFT to receive the exact amount in USDC. This can then be used to trade and is popular among users in countries without their native fiat currency supported.
There is no Crypto.com fee for deposits, but check with your bank to see if they apply a processing fee for the currency conversion.
And as we mentioned fees, let’s see how much Crypto.com charges your trades!
Several features of the platform involve Crypto.com fees:
Crypto.com Withdrawal Fees
Each type of coin is charged a Crypto.com fee for withdrawal and a minimum amount when you send it away from the Crypto.com wallet to another address.
For example, DOGE requires a withdrawal of at least 90 and carries a fee of 10.
Crypto.com Trading Fees
Fees on Crypto.com also apply to trading. This is a percentage of the underlying USD (or your chosen fiat) value of the trade.
For example, a trade worth up to $25,000 has a 0.4% fee attached to both the maker and the taker of the trade.
These fees decrease as your trade volume increases over nine levels. The lowest is 0.04% for the maker and 0.1% for the taker. However, the volume must be over $200 million to benefit from this!
The same percentage structure applies to derivatives trading, but fees are much lower. They start at 0.050% for the maker and 0.070% for the taker, for up to $25,000. At level 9 (over $200 million), there is no fee for the maker and 0.015% for the taker.
Credit and Debit Cards
It’s easy to buy crypto directly using a credit or debit card linked to your account. But it unlike bank transfers, which are free, you will be charged between 2.99% and 3.99%, depending on your location.
This excludes any foreign currency fee applied by your card issuer or bank for using one of the supported fiat currencies that aren’t native to your country.
The good news? New app users from 54 countries have the Crypto.com fees waived for the first 30 days.
Crypto.com does not restrict your ability to trade effectively, but there are some reasonable limits to be aware of.
Minimum withdrawals are set low enough to welcome low volume users while still accommodating the Crypto.com withdrawal fees.
For instance, the minimum Bitcoin withdrawal is 0.0005, and the fee is 0.0004.
This only leaves you with 0.0001 BTC, so you’re better off building your funds a little higher before withdrawing.
As of July 2021, the platform does not state a maximum withdrawal limit in crypto.
Fiat Deposits and Withdrawals
Depositing fiat currency by bank transfer carries single, daily, and monthly limitations.
For example, USD is set at a minimum of $20 by ACH and $5,000 by wire. You can make five transactions per day or a maximum amount of $50,000/$250,000, respectively.
Monthly ACH: $500,000 or 30 deposits.
Monthly Wire: $1 million or 30 deposits.
Withdrawals are limited as follows:
- $100 per transaction
- $5,000 per day
- $50,000 per month
- No more than two withdrawals per day
- No more than 20 withdrawals per month
The quickest way to find the limits in your country and/or currency is to visit the Crypto.com Fees & Limits section of the app or the site. Furthermore, help.crypto.com is well laid out and has an excellent search function for finding this information.
Crypto.com supports over 90 countries. The company updates the list occasionally, depending on legal status changes and other barriers. You will soon know if your country is supported upon registration. Some of the biggest users include:
|United States||Japan||Czech Republic||Israel||Poland||Spain|
|Peru||Vietnam||Egypt||Latvia||Russia||United Arab Emirates|
Supported Payment Methods
Supported payment methods vary from country to country, but generally, you’ll find:
Funding and buying
- Debit card
- Credit card
- Fiat wallet via bank transfer
- Existing cryptocurrency
- Bank transfer
- Crypto.com Visa Card
- Withdrawal to another cryptocurrency wallet
Is Crypto.com safe? Yes!
The platform is big on security, and users are reassured since it has never had a major security breach.
Cryptocurrencies held by the site are kept offline in physically secured ‘cold storage’. Moreover, this is insured against damage and theft to the tune of $500 million.
Crypto that is moving around is protected in multi-signature HSM wallets. There is always enough to cover day-to-day withdrawals, and this total amount represents only a fraction of the company’s total financial holdings.
Fiat currency is held in many different bank accounts owned by the company, localized to best support its users. In other words, Crypto.com USA users are served by American banks and protected by FDIC insurance.
Crypto.com also has a staff that actively monitors suspicious transactions and seeks manual approval for particularly large volume transactions.
In addition, user accounts are protected with two-factor authentication.
One of the best things about Crypto.com’s DeFi wallet is that you don’t have to rely on the site to protect it. You are given the private keys to manage it yourself, much like an offline wallet. Yet, this isn’t mandatory.
Crypto.com – safe, secure, and well-trusted among the crypto community. What more could you want?
When it comes to anything financial, customer support needs to be immediately available. Crypto.com does a good job of this via a live chat function available on every webpage and in-app. It even tells you how many team members are currently free.
Past Crypto.com reviews, such as those on TrustPilot have called into question slow staff responses, but our test question was responded to in minutes by web chat, and there were three staff members available in the middle of the day.
There’s also a help center with articles organized by category – from help with the app to everything about the VISA card. The search option is particularly efficient at returning help pages relevant to your query.
The general contact email is email@example.com, but this is not promoted as a support option.
Crypto.com vs Coinbase
Instead of relying on Crypto.com reviews only, we put two crypto giants head to head: Crypto.com vs Coinbase. Here’s the truth about how they compare in features, fees, and security:
Overall, Crypto.com has a cheaper fee structure and discounts for high-volume users. This includes trading, crypto conversion, and card payments. Coinbase only has the edge when it comes to ACH bank transfers, which are free and do not need a minimum deposit.
Both platforms have solid 24/7 customer support teams, but Coinbase wins out thanks to a more in-depth knowledge base and learning environment. You can even earn crypto for completing educational tasks!
While the two have comprehensive exchanges for trading, Crypto.com knocks it out of the park with extras like:
- Visa Cards
- Earning interest
- Crypto loans
- Payments and merchant services
Coinbase has some unique cryptocurrencies for trade, including BSV, CGLD, CVC, DNT, GNT, LOOM, NU, OXT, REP, and ZEC.
However, the Crypto.com app has many more unique offerings and, overall, the most supported currencies of either platform.
Ease of Use
Both platforms provide beginner-friendly and intuitive websites and apps. Crypto.com is slightly more involved because it has more features, but it’s certainly not difficult to navigate all the key areas. This one’s a tie.
Crypto.com and Coinbase are trusted sites that have never suffered hackings. They both use cold storage, though Crypto.com has 100% of its holdings secured while Coinbase has slightly less, at 98%.
Crypto.com comes out on top because it gives you access to your wallet’s private keys, while Coinbase manages wallets themselves.
To sum up, the two services are easy to use, secure, with good customer support. But Crypto.com is our pick because of its large amount of supported currencies and endless extra features. It simply has more to offer the user, without any significant drawbacks.
Crypto.com Review – Verdict
If at the start of this post, you asked: Is Crypto.com good? The answer should now be clear.
This is one of the fastest-rising platforms in the industry, and for a good reason. Most importantly, it takes singular services like buying crypto or providing trading tools and brings them all under one roof with more features.
Above all, Crypto-linked debit cards, interest on your stored assets, and even crypto credit put it ahead of most of the competition.
It further stands out thanks to low fees, a high standard of security, and a well-developed app.
It’s not too overwhelming for beginners to pick up. Meanwhile, all the perks available to experienced high-volume investors are a massive bonus.
In conclusion, Crypto.com is among the industry leaders.
Yes, Crypto.com is a legit, well-established platform with millions of users. It has been around since 2016 and is a registered company in Hong Kong, China, while serving many other countries around the world, adhering to the local laws and regulations.
From a security standpoint, it is always safer to use your own localized wallet to store cryptocurrency. However, when it comes to wallets managed by third parties, the Crypto.com wallet is one of the best. This is because it gives you the security keys for non-custodial management.
We find Crypto.com to be the better service, as per our Crypto.com review. It has more features, such as VISA cards and the ability to earn interest. Furthermore, its security is superior, and there is a wider variety of supported cryptocurrencies.