What is Crypto.com?

Crypto.com is an affordable digital coin exchange where you can buy and sell a wide range of cryptocurrencies. The company also offers an NFT marketplace, an independent crypto wallet, and a virtual money credit card. Users are free to connect multiple digital coin wallets including hardware ones like Ledger Nano. The company suffered a security breach in January 2022 leading to a loss of about $15 million. Clients who lost their funds were quickly reimbursed within 12 hours. Apart from the PC platform, investors who are always on the move can take advantage of the iOS/Android app to trade. The exchange intensified its marketing activities over the past two years, leading to an upsurge of users from 10 million in 2021 to over 70 million by the end of 2022. A significant part of the marketing budget went on high-profile marketing campaigns such as Formula One racing, the NBA, NHL, European football, and others. There’s a lot to learn about this marketplace. So, read this review to get answers to all your questions including its founding team, features, and what distinguishes it from other cryptocurrency exchanges.

Going by the number of registered users, 70M+, one can already tell that this is one of the highest regarded exchanges. Although it experienced a security breach, client funds were reimbursed in less than 24 hours. Besides, a $15 million loss is insignificant for a company of such magnitude. The platform is considered secure, reliable and trustworthy. By holding a US and UK license, the platform affirms its commitment to offering top tier services.

The platform has implemented several security measures to keep your funds safe. While these features are robust, we recommend you use a strong password and all personal online security measures to help strengthen your account’s security. Password, biometric, email, phone, and authenticator verification are all some of the personal security features you can deploy. Remember it is unlikely that you will be able to recover your assets if your account is compromised, because crypto transactions are irreversible.

Security Options

The security page of Crypto.com begins with “Security First. Always,” line and philosophy of “Defence in Depth.” This declaration of their values and robust security certification strengthens their commitment to providing their users with the highest security possible. Here are some of the security features available:

• 100% user funds in cold storage: the exchange has integrated a ledger institutional-grade custody solution, the Ledger Vault, through a partnership with Ledger company. Furthermore, the exchange uses hardware security modules (HSM) and multi-signature technologies. Crypto.com has secured USD 750 million in cold storage insurance against physical damage, destruction, and theft by third parties.

• Funds in hot wallets are corporate funds: Furthermore, all the funds in hot wallets are corporate funds. For the security of its hot wallet, the crypto exchange employs HSM and multi-signature keys. The money in hot wallets is owned by a company and is part of the exchange’s total holdings. It is sufficient to cover daily withdrawal requests from customers.

• Multi-factor authentication: all transactions are protected with multi-factor authentication (MFA). Password, biometric, email, phone, and authenticator verification are part of the multi-factor authentication process.

• Whitelisting: Address whitelisting is an advanced security feature allowing wallet owners to specify authorized withdrawal addresses. Funds can only go to the whitelisted address, meaning even if a successful hacker tried to cash-out your digital coins, they would only be sent to the specified address.

• Certifications and Assessments: Crypto.com is the first cryptocurrency exchange to have ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013, and PCI-DSS v3.2.1 Level 1 compliance, as well as Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as Service Organization Control (SOC) 2 compliance. The exchange also boasts that it employs reputable security consulting and auditing firms such as Kudelski Security to test and audit its core blockchain systems. In addition, the exchange employs Hacker One, a bug bounty program, to identify flaws.

Crypto.com has established itself as a trustworthy cryptocurrency exchange. It has done an admirable job of protecting users’ funds. For example, it monitors all incoming transactions to ensure they aren’t originating from the black market. As a result, they continue to launder money from criminals. Crypto exchanges should strive for this level of compliance to prevent money laundering and criminal financial activity. Furthermore, their hot wallet isn’t user funds, but company money, dedicated to ensuring that transactions on their network of services run smoothly. Adding to the multiple security features already discussed earlier, it goes without saying that the marketplace is highly safe.

Crypto.com supports over 250 currencies. Here are some crypto assets available for purchase and sale on the exchange.

• Algorand (ALGO)
• Balancer (BAL)
• Protocol for Bands (BAND)
• Token of Basic Attention (BAT)
• Bitcoin (BTC)
• Cardano (ADA)
• Chainlink (LINK) (LINK)
• Cronos (CRO)
• Dogecoin (DOGE)
• Filecoin (FIL)
• Elrond (eGLD)
• The Enjin Coin (ENJ)
• Ethereum (ETH)
• The Kyber Network (KNC)
• Litecoin (LTC)
• OmiseGO (OMG)
• 0x (ZRX)
• Origin (OGN)
• Standard Paxos (PAX)
• Polkadot (DOT)
• US Dollar Coin (USDC)
• XSGD (XSGD)

The platform provides several crypto to fiat and crypto to crypto pairs. Over 349 trading pairs are available on the cryptocurrency exchange. They include:

• BTC/USDT
• CRO/USDT
• ETH/USDT
• CRO/USDC
• ALGO/USDC
• AAVE/USDC
• 1INCH/BTC
• ETH/BTC.

The fact that Crypto.com has lower trading fees than other exchanges such as Gemini is one of its selling points. The lower fee structure allows users to purchase more Cronos, their core token (or CRO).

• Deposit and withdrawal fees: The exchange accepts cryptocurrency deposits for free. It also supports free transfers to the branded Exchange and DeFi Wallet and allows free crypto to crypto exchanges. You will be charged a fee when you withdraw cryptocurrency to an external address. The fee varies depending on the cryptocurrency being withdrawn.
• Trading fees: Trading fees are based on your 30-day trading volume. The greater your trading volume, the larger the discount. Trading fees at Crypto.com were recently reduced by 80%. Users will now benefit from lower costs starting at 0.075% and 0.034% for the spot and derivatives markets, respectively. Surprisingly, no minimum trading amount is required.

Deposit and Withdrawal Methods:

Crypto.com deposit methods include bank transfer (ACH), PayPal, Bank transfer (SEPA), SWIFT, Xfers, Credit or Debit Card, and TransferWise. The exchange is also one of the best value exchanges because you can buy and sell cryptocurrencies at their true value.

Crypto.com charges a fee for credit/debit card cryptocurrency purchases made through its app. If you pay with a credit card, your card company may charge you a cash advance fee if you use it to purchase cryptocurrency.

Limits:

For bank transfers, the minimum deposit or withdrawal is 500 USDC, but we did not come across a maximum amount. The fee for withdrawing funds from your USDC wallet is $25 USDC. The maximum withdrawal limit for BTC is 10 coins every 24 hours, up to a maximum of 100 BTCs a month.

Crypto.com has a desktop app as well as a mobile app. After creating an account and verifying your identity, you can begin trading through the app or DeFi wallet. It should be noted that the Crypto.com App and Exchange aren’t identical. The app, for example, supports fiat currencies. As a result, you can use it to buy cryptocurrency with fiat. The Crypto.com Exchange, on the other hand, is a crypto-only exchange; thus, you can’t use fiat currencies on this platform. Only crypto assets can be traded on the branded exchange. Here is what we found during our investigation:

Mobile App

Our experience with the mobile app was amazing. A beginner may find it challenging to navigate the app comfortably, but it will only take a few clicks to get the hang of it. You can use the mobile app to buy and sell crypto assets, exchange fiat currencies, manage your visa card, access crypto earnings and credit, and make crypto payments. You can also use the mobile app to manage your portfolio, send coins to the Crypto.com Exchange, withdraw cryptocurrencies to external wallets, and track your portfolio. The app is available for download on iOS and Android devices via the App Store or Google Play.

To get started, download the mobile app from the Google Play Store or the Apple Store. Next, open it, and enter your sign-up information, such as an email address and a strong password. Next, use your real name, photo, and selfie to prove your account is still active. Then, connect your preferred payment method. Everything should be easy. We didn’t get any challenges or experience bugs while conducting this review.

Desktop

Desktop users can take advantage of web browser or desktop app. Both options have a minimalistic design with a dark background and are easy to use. Just like the mobile app, we don’t expect a newbie to easily navigate the platform at first interaction, but it will not take long to understand it. Different features are well grouped under the menu function for easy accessibility. You may choose to stick with Crypto.com web or download the desktop app, depending on what you want to achieve. The app is mainly a wallet, which we best recommend for beginners seeking a seamless entry point to crypto with fiat money. On the other hand, the web version has more complex functionalities for sophisticated trading beyond buying and selling digital coins. It’s the best fit for professional crypto enthusiasts.

Customer support options at Crypto.com include a help page, email, and a chat-bot. The help page, which includes well-written articles, contains a detailed guide to using each feature. You may use the chat -bot feature, which is pretty much like a live support. The automated support function is programmed to provide the best solutions to your questions. In case you are not satisfied, it will direct your queries to a live person who will respond within four hours. There is no support phone number.

Crypto.com stands out as an old timer in the fast-paced world of cryptocurrency exchanges. It distinguishes itself as a one-stop shop for all your crypto transaction needs. As a result, it is an excellent choice for investors of all levels. Some crypto traders, however, will enjoy it far more than others. For example, if you’re looking for low-fee crypto exchange, Crypto.com has competitive trading fees. Remember that you will want lower trading fees if you hold a significant amount of the exchange’s native coins, CRO. Additionally, its extensive list of features will ensure that you fully utilize your cryptocurrency for investors who need to do more than just trade cryptocurrency. Among other things, you can earn rewards, spend your cryptocurrency, and mint and sell NFTs. Because of the newly introduced learning resource, the university, new traders can now enjoy lower trading fees and a simpler trading experience.

Throughout this Crypto.com exchange review, it is clear that the platform has provided various premium services in a short time. It’s no surprise that it has over 50 million users worldwide. It also has several security certifications and concrete security measures in place, distinguishing it from the long list of cryptocurrency exchanges.

You can do a lot with Crypto.com exchange. You can trade crypto, stake, or even lend your digital assets at competitive rates. Furthermore, the NFT platform enables you to create and sell NFTs simply. The exchange rates are appealing. So, what’s holding you back from utilizing this platform? Get it now!