Crypto.com review: the most regulatory compliant crypto exchange

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Crypto.com is a global platform that offers a variety of crypto-related products and services. It was founded in 2016 and has grown to become one of the most popular and trusted crypto platforms in the world. Crypto.com is a regulated and compliant platform that adheres to the highest security standards and protects its users' funds with cold storage, insurance, and audits. It also has a strong social responsibility vision and supports various environmental and charitable initiatives. Crypto.com aims to accelerate the world's transition to cryptocurrency and make it more accessible, convenient, and rewarding for everyone. This article will provide you with a comprehensive review of the exchange.

A short review of Crypto.com

Some of the features that Crypto.com provides are:

• An app that allows users to buy, sell, trade, and pay with over 200 cryptocurrencies and 20 fiat currencies at low fees and real-time rates.
• A Visa card that enables users to spend their crypto anywhere Visa is accepted and earn up to 8% cashback on their purchases.
• A DeFi wallet that gives users full control over their private keys and allows them to swap, stake, and earn interest on their crypto assets.
• An exchange that supports spot trading, futures trading, margin trading, and advanced order types for more than 200 cryptocurrencies with discounts for CRO holders.
• A staking program that rewards users for locking up their CRO tokens on the platform or the app and offers up to 14.5% annual interest.
• A lending service that lets users borrow crypto against their crypto collateral with a 50% loan-to-value ratio.
• An NFT marketplace that allows users to buy, sell, or trade digital collectibles from various artists, celebrities, and brands.

Register on Crypto.com using the button below and earn up to 50$ worth of CRO upon your first deposit

Register on Crypto.com

I. Introduction to Crypto.com

A. Brief history of Crypto.com

Crypto.com was founded in 2016 as Monaco by four entrepreneurs: Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. The company aimed to provide a simple and secure way for people to access the benefits of cryptocurrencies. In 2018, the company rebranded as Crypto.com after acquiring the domain name from cryptography researcher Matt Blaze for an undisclosed amount. The company also launched its own native token, CRO, which powers its ecosystem of products and services.

Since then, Crypto.com has grown rapidly and reached over 50 million users and 4,000 employees as of May 2022. The company offers a range of products, including an app, an exchange, a wallet, a card, a DeFi platform, and an NFT marketplace. The company has also partnered with various brands and organizations, such as Shopify, Paris Saint-Germain F.C., Formula 1, and UFC, to promote cryptocurrency adoption and awareness.

B. Overview of the exchange platform

Crypto.com Exchange is a centralized platform that allows users to trade over 200 cryptocurrencies with low fees and high liquidity. The exchange supports spot trading, margin trading, derivatives trading, and staking. Users can also access various features and benefits, such as:

• Crypto.com Supercharger: A liquidity mining platform that allows users to deposit CRO or other supported tokens and earn rewards in new tokens.
• Crypto.com Syndicate: A fundraising platform that allows users to participate in discounted sales of new tokens.
• Crypto.com Pay: A payment solution that allows users to pay with cryptocurrencies at over 100,000 merchants worldwide and earn cashback in CRO.
• Crypto.com Earn: A lending platform that allows users to deposit cryptocurrencies and earn interest up to 14% per annum.
• Crypto.com Soft Staking: A staking program that allows users to earn rewards on their idle balances without locking them up.

To use the exchange platform, users need to create an account and verify their identity. Users can also upgrade their account level by completing advanced verification or staking CRO. Higher account levels offer lower trading fees and higher withdrawal limits.

The exchange platform is available on both web and mobile devices. Users can also access the exchange through the Crypto.com App or the Crypto.com DeFi Wallet.

II. Trading Options and Finance Products

Crypto.com is a platform that offers a variety of trading options and finance products for cryptocurrency enthusiasts. Here are some of the features that Crypto.com provides:

A. Supported cryptocurrencies and trading pairs

Crypto.com supports over 200 cryptocurrencies and more than 1000 trading pairs on its exchange. Users can trade popular coins like Bitcoin, Ethereum, Cardano, Dogecoin, and many more. Users can also trade stablecoins like USDC, USDT, DAI, and PAX. Crypto.com also has its own native token, CRO, which powers the platform and provides various benefits for users.

B. Spot trading

Spot trading is the simplest form of trading, where users buy or sell cryptocurrencies at the current market price. Crypto.com offers a user-friendly interface and low fees for spot trading. Users can choose from different order types, such as:

1. Fee structure

Crypto.com charges a maker fee and a taker fee for spot trading, depending on the user's 30-day trading volume and CRO stake level. The maker fee is the fee for placing an order that adds liquidity to the order book, while the taker fee is the fee for filling an order that removes liquidity from the order book. The fees range from 0.04% to 0.20% for makers and from 0.10% to 0.20% for takers.

2. Order types

Crypto.com supports four types of orders for spot trading: limit, market, stop-limit, and stop-market. A limit order allows users to set a specific price at which they want to buy or sell a cryptocurrency. A market order allows users to buy or sell a cryptocurrency at the best available price in the market. A stop-limit order allows users to set a trigger price and a limit price for buying or selling a cryptocurrency. When the trigger price is reached, a limit order is placed at the limit price. A stop-market order allows users to set a trigger price for buying or selling a cryptocurrency. When the trigger price is reached, a market order is placed.

C. Margin trading and derivatives

Margin trading and derivatives are more advanced forms of trading that allow users to leverage their capital and trade with borrowed funds or contracts. Crypto.com offers several options for margin trading and derivatives, such as:

1. Leverage options

Crypto.com allows users to trade with up to 10x leverage on its margin trading platform. Leverage is the ratio of the user's own funds to the borrowed funds. For example, if a user has $1000 in their account and trades with 10x leverage, they can open a position worth $10,000. Leverage can amplify both profits and losses, so users should be careful when using it.

2. Supported products

Crypto.com supports two types of products for margin trading and derivatives: perpetual contracts and futures contracts. Perpetual contracts are contracts that have no expiry date and track the price of an underlying asset, such as Bitcoin or Ethereum. Users can go long or short on perpetual contracts, meaning they can bet on the price going up or down. Futures contracts are contracts that have a fixed expiry date and a predetermined price at which the contract will be settled. Users can also go long or short on futures contracts, but they have to close their positions before the expiry date.

D. Crypto.com's trading bots

Crypto.com is a platform that offers various products and services for crypto users, such as buying, selling, staking, lending, borrowing, and earning cryptocurrencies. One of the features that Crypto.com provides is the trading bots, which are automated tools that can help users execute trading strategies based on predefined rules and parameters. Crypto.com currently offers two types of trading bots: the DCA bot and the grid trading bot.

1. DCA bot

The DCA bot stands for Dollar Cost Averaging bot, which is a trading strategy that involves buying a fixed amount of an asset at regular intervals, regardless of the price fluctuations. The idea behind this strategy is to reduce the impact of volatility and average out the cost of buying the asset over time. For example, if a user wants to buy $100 worth of Bitcoin every week for six months, they can use the DCA bot to automatically place and execute the orders for them.

The DCA bot is available on the Crypto.com Exchange web and app versions. Users can choose from a variety of coins, frequencies, and amounts to customize their DCA strategy. Users can also view the historical performance and ROI of their DCA bots, as well as the popular DCA bots created by other users.

2. Grid trading bot

The grid trading bot is a trading strategy that involves placing multiple buy and sell orders at different price levels within a predefined range. The goal of this strategy is to profit from the price fluctuations within the range by buying low and selling high automatically. For example, if a user expects the price of Ethereum to move between $3000 and $4000, they can use the grid trading bot to set up a grid with 10 buy and sell orders evenly distributed within the range.

The grid trading bot is also available on the Crypto.com Exchange web and app versions. Users can choose from a variety of coins, ranges, grids, and amounts to customize their grid trading strategy. Users can also view the historical performance and ROI of their grid trading bots, as well as the popular grid trading bots created by other users.

E. Staking and Crypto Earn

Staking and Crypto Earn are two ways for users to earn passive income from their cryptocurrencies on Crypto.com. Staking is the process of locking up a certain amount of cryptocurrency in exchange for rewards, while Crypto Earn is a program that allows users to deposit their cryptocurrency and earn interest on it.

1. Staking options and rewards

Crypto.com offers two types of staking options: soft staking and hard staking. Soft staking is when users keep their cryptocurrency in their exchange wallet and earn rewards based on their balance and CRO stake level. Hard staking is when users lock up their cryptocurrency in a fixed-term contract and earn higher rewards based on their contract duration and CRO stake level.

The rewards for staking vary depending on the cryptocurrency, the staking option, the CRO stake level, and the market conditions. Users can check the current reward rates on Crypto.com's website or app.

2. Crypto Earn program details

Crypto Earn is a program that allows users to deposit their cryptocurrency in flexible, one-month, or three-month terms and earn interest on it. The interest rates vary depending on the cryptocurrency, the term length, and the CRO stake level.

Users can deposit over 40 cryptocurrencies in Crypto Earn, including Bitcoin, Ethereum, Cardano, Dogecoin, USDC, USDT, DAI, PAX, and CRO.

F. Crypto-backed loans and Crypto Credit

One of the features that crypto.com offers is the ability to borrow fiat currency or stablecoins using your crypto assets as collateral. This is called crypto-backed loans and it is part of the Crypto Credit service. In this section, we will review how this works and what are the benefits and risks of using it.

1. Loan terms and options

To get a crypto-backed loan, you need to have a crypto.com account and deposit some eligible crypto assets in your Crypto Wallet. The amount of fiat or stablecoins you can borrow depends on the value of your collateral and the loan-to-value (LTV) ratio you choose. The LTV ratio is the percentage of the loan amount relative to the value of the collateral. For example, if you deposit $10,000 worth of BTC and choose a 50% LTV ratio, you can borrow up to $5,000.

Crypto.com offers three LTV options: 25%, 33%, and 50%. The lower the LTV ratio, the lower the risk of liquidation, but also the lower the amount you can borrow. Liquidation happens when the value of your collateral drops below a certain threshold and crypto.com sells some or all of your assets to repay the loan.

You can choose to borrow fiat currency (USD, EUR, GBP, or SGD) or stablecoins (USDC, USDT, TUSD, PAX, or DAI). You can also switch between fiat and stablecoins at any time without fees. You can repay the loan partially or in full at any time without penalties. You can also top up your collateral or withdraw some of it if the LTV ratio allows it.

2. Interest rates and repayment

The interest rate you pay for your crypto-backed loan depends on two factors: the LTV ratio and your crypto.com stake. The stake is the amount of CRO tokens you have locked in your Crypto Wallet for a fixed period of time (1, 3, or 6 months). The higher your stake, the lower your interest rate. For example, if you have a 50% LTV ratio and no stake, you pay 12% APR. If you have a 25% LTV ratio and a 6-month stake of at least 500,000 CRO, you pay 4% APR.

The interest is calculated daily and charged monthly. You can choose to pay it with your fiat or stablecoin balance in your Crypto Wallet, or with your CRO balance in your Crypto Wallet or Crypto Earn account. If you don't have enough balance to pay the interest, crypto.com will deduct it from your collateral.

Crypto Credit is a flexible and convenient way to access liquidity without selling your crypto assets. However, it also involves some risks, such as price volatility, liquidation, and counterparty risk. You should only use this service if you understand how it works and are comfortable with the potential outcomes.

G. Crypto.com's NFT marketplace

In March 2021, Crypto.com launched its own platform dedicated to non-fungible tokens (NFTs), with the ambition of offering the best user experience possible. The Crypto.com NFT marketplace allows users to explore exclusive drops by the most in-demand creators, trade with other collectors in the marketplace, and mint their own NFTs all in one place. Users can access highly-anticipated PFP (profile picture) collections, gamified drops, and more. The platform supports NFTs on various blockchains, such as Ethereum, Binance Smart Chain, and Flow.

To buy an NFT on Crypto.com, users can either browse the primary market for new drops or the secondary market for resales. Users can choose to buy directly at a fixed price or make an offer to bid on an NFT. One of the unique features of Crypto.com NFT is that it allows users to buy NFTs with a credit card, in addition to cryptocurrencies.

Crypto.com NFT aims to become the leading platform for NFTs by providing a simple and ergonomic interface, a diverse and curated selection of creators and collections, and a seamless integration with its other products and services, such as its crypto Visa card and its DeFi wallet.

III. Deposit and withdrawal on Crypto.com

Crypto.com offers a variety of deposit and withdrawal options for its users, depending on their location and preferences. Here are some of the main features and fees of each option:

A. Deposit options and fees

• Crypto: Users can deposit over 100 cryptocurrencies to their Crypto.com app wallet for free. They can also use the Crypto.com DeFi Wallet to deposit and swap any ERC20 tokens.
• Fiat: Users can deposit fiat currencies such as USD, EUR, GBP, AUD, CAD, SGD, and more to their Crypto.com app wallet via bank transfer, debit/credit card, or third-party payment services such as PayPal or Venmo. The deposit fees vary depending on the method and currency, but they are generally low or waived for certain amounts or cards.
• Stablecoins: Users can also deposit stablecoins such as USDC, USDT, DAI, PAX, and more to their Crypto.com app wallet or Crypto.com DeFi Wallet for free.

B. Withdrawal options and fees

• Crypto: Users can withdraw cryptocurrencies from their Crypto.com app wallet to any external wallet address for a network fee that depends on the coin and the network congestion. They can also withdraw from their Crypto.com DeFi Wallet to any ERC20-compatible wallet for a gas fee that depends on the Ethereum network congestion.
• Fiat: Users can withdraw fiat currencies from their Crypto.com app wallet to their bank account, debit/credit card, or third-party payment service for a fee that depends on the method and currency. The fee is usually low or waived for certain amounts or cards. Some fiat currencies may not be supported for withdrawal in some regions.
• Stablecoins: Users can withdraw stablecoins from their Crypto.com app wallet or Crypto.com DeFi Wallet to any external wallet address for free.

IV. Security and Regulatory Compliance

One of the most important aspects of any crypto platform is how secure and compliant it is. Crypto.com claims to offer a high level of security and legal compliance for its users and partners. In this section, we will review some of the security measures and regulatory frameworks that Crypto.com follows.

A. Security measures

Crypto.com employs various security measures to protect its users' funds and data. Some of these measures are:

1. Cold storage: Crypto.com stores 100% of its users' crypto assets in offline cold storage wallets that are secured by multiple layers of encryption and physical security. This means that even if the online platform is compromised, the funds are safe from hackers.
2. Two-factor authentication: Crypto.com requires its users to enable two-factor authentication (2FA) for their accounts, which adds an extra layer of security when logging in or performing transactions. Users can choose between SMS, email, or authenticator app as their 2FA method.
3. Encryption and secure communication: Crypto.com encrypts all its data and communications using industry-standard protocols such as SSL/TLS and AES-256. Crypto.com also uses secure sockets layer (SSL) certificates to verify its identity and ensure that users are connecting to the legitimate website.

B. Legal compliance

Crypto.com also strives to comply with the relevant laws and regulations in the jurisdictions where it operates. Some of the legal compliance aspects that Crypto.com follows are:

1. Licenses and registrations: Crypto.com has obtained various licenses and registrations from different authorities around the world, such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) in Australia, the Monetary Authority of Singapore (MAS) in Singapore, and the Malta Financial Services Authority (MFSA) in Malta. These licenses and registrations allow Crypto.com to offer its services legally and transparently.
2. KYC and AML policies: Crypto.com adheres to the know-your-customer (KYC) and anti-money laundering (AML) policies that are required by the regulators in each jurisdiction. Users have to verify their identity and provide proof of address before they can use the platform's features. Crypto.com also monitors and reports any suspicious or fraudulent activities to the relevant authorities.
3. Jurisdictional coverage: Crypto.com aims to expand its global reach and offer its services to as many countries as possible. However, due to the complex and evolving nature of crypto regulations, some countries may not be supported by Crypto.com at the moment. Users can check the availability of Crypto.com's services in their country on the website or app.

V. Crypto.com's User Interface and User Experience

Crypto.com aims to provide a seamless and user-friendly experience for its customers across its various products and services. In this section, we will review the web platform, the mobile app, and the customer support of Crypto.com.

A. Crypto.com's Web platform

The web platform of Crypto.com is mainly designed for trading and investing in cryptocurrencies. It offers a sleek and intuitive interface that allows users to access different features and functions with ease. Some of the main features of the web platform are:

1. Layout and design

The web platform has a dark theme that is easy on the eyes and creates a contrast with the colorful charts and icons. The layout is divided into four main sections: the header, the sidebar, the main panel, and the footer. The header contains the logo, the search bar, the language selector, and the account menu. The sidebar contains the navigation menu with tabs for different products and services, such as Exchange, Supercharger, NFTs, etc. The main panel displays the content and information related to each tab, such as market data, order book, trading history, etc. The footer contains links to useful resources, such as FAQs, blog, social media, etc.

2. Navigation and ease of use

The web platform is easy to navigate and use, as users can switch between different tabs and features with a few clicks. The platform also provides helpful tooltips and guides for beginners who want to learn more about each feature. Users can also customize their preferences and settings, such as theme, language, notifications, etc.

B. Crypto.com's Mobile app

The mobile app of Crypto.com is the core product of the company, as it offers a comprehensive suite of crypto-related services and features. It is compatible with both iOS and Android devices and has a high rating on both app stores. Some of the main features of the mobile app are:

1. Features and compatibility

The mobile app has a similar design and layout as the web platform, but with some additional features that are exclusive to the app. For example, users can access the Crypto.com Visa Card, which allows them to spend their crypto anywhere Visa is accepted. Users can also access the Crypto Earn program, which allows them to earn interest on their crypto deposits. Users can also access the Crypto Pay feature, which allows them to pay with crypto at participating merchants. The mobile app also supports biometric authentication, push notifications, QR code scanning, etc.

2. Performance and user feedback

The mobile app has a high performance and reliability, as it rarely crashes or freezes. It also has a fast loading speed and a smooth user interface. The user feedback on the app is mostly positive, as users praise its functionality, security, variety of services, etc.

C. Customer support

Crypto.com strives to provide excellent customer support for its users across its various channels and platforms. It offers 24/7 live chat support on its website and app, as well as email support and phone support for certain regions. It also has a comprehensive help center with FAQs, guides, tutorials, etc. Some of the main aspects of customer support are:

1. Channels and response times

Crypto.com offers multiple channels for users to contact its customer support team, such as live chat, email, phone, social media, etc. The response times vary depending on the channel and the issue type, but generally range from a few minutes to a few hours. Users can also track their tickets and follow up on their queries through the app or website.

2. User satisfaction and common issues

Crypto.com has a high user satisfaction rate when it comes to customer support, as users appreciate its professionalism, helpfulness, friendliness, etc. However, some users also report some common issues or complaints with customer support, such as long waiting times, lack of clarity or resolution, technical glitches or errors.

VI. Subscription and Joining Bonus

Crypto.com offers various subscription tiers and benefits for its users, depending on how much CRO they stake on the platform. CRO is the native token of Crypto.com, and it can be used to access discounts, rewards, and other perks.

A. Subscription tiers and benefits

There are four subscription tiers on Crypto.com: Ruby Steel, Jade Green/Royal Indigo, Icy White/Rose Gold, and Obsidian. Each tier requires a different amount of CRO staked for at least 180 days, ranging from 5,000 CRO ($400) for Ruby Steel to 5 million CRO ($400,000) for Obsidian.

The benefits of each tier include:

• A cashback of 2% to 8% on all spending with the Crypto.com Visa Card
• A bonus interest of 2% to 12% per annum on staked crypto assets
• A rebate of 1% to 10% on Spotify, Netflix, Amazon Prime, and Expedia subscriptions (depending on the tier)
• Access to exclusive events, research reports, and airport lounges (for higher tiers)
• A referral bonus of $25 to $2,000 for each friend invited to Crypto.com (depending on the tier)

B. Joining bonus and referral program

New users who sign up for Crypto.com and stake at least 5,000 CRO can get a joining bonus of $50 worth of CRO. They can also participate in the referral program and earn up to $2,000 for each friend they invite, depending on their subscription tier. The referrer shall also earn 50% of the referee's trading fees for the next 12 months.

The referral program works as follows:

• The referrer and the referee both get a bonus of $50 worth of CRO when the referee stakes at least 5,000 CRO
• The referrer can also get an additional bonus of $25 to $2,000 worth of CRO when the referee upgrades their subscription tier within 90 days
• The referee can also get an additional bonus of $25 to $2,000 worth of CRO when they upgrade their subscription tier within 90 days
• The bonuses are locked for 180 days and can be unlocked by staking more CRO or spending with the Crypto.com Visa Card

C. Crypto.com Visa Card

One of the main attractions of Crypto.com is its Visa Card, which allows users to spend their crypto assets anywhere Visa is accepted. The card has several features and benefits, such as:

1. Card tiers and rewards

The card has four tiers: Ruby Steel, Jade Green/Royal Indigo, Icy White/Rose Gold, and Obsidian. Each tier has a different design, color, and metal material. The card also has different rewards depending on the tier, such as:

• A cashback of 2% to 8% on all spending
• A rebate of 100% to 10% on Spotify, Netflix, Amazon Prime, and Expedia subscriptions
• Access to exclusive events, research reports, and airport lounges (for higher tiers)

The card also has no annual fees, no foreign transaction fees, and no ATM withdrawal fees (up to a limit).

2. Benefits and limitations

The card has several benefits for users who want to use their crypto assets in everyday life. Some of the benefits are:

• The card supports over 100 cryptocurrencies and 20 fiat currencies
• The card offers real-time conversion rates and low exchange fees
• The card is compatible with Google Pay and Apple Pay
• The card has security features such as biometric authentication and freeze/unfreeze options

However, the card also has some limitations that users should be aware of. Some of the limitations are:

• The card requires a minimum stake of 5,000 CRO ($400) for at least 180 days to access the benefits
• The card has a monthly spending limit of $25,000 to $1 million (depending on the tier)
• The card has a monthly ATM withdrawal limit of $400 to $1,000 (depending on the tier)
• The card is not available in all countries and regions

VII. Pros and Cons of Crypto.com

A. Summary of Cypto.com's key advantages

Crypto.com is a platform that offers a wide range of crypto-related services and products, such as trading, investing, staking, swapping, lending, paying, and NFTs. It supports more than 250 cryptocurrencies and has competitive fees that can be reduced by holding and using its native token, CRO. Crypto.com also has a popular crypto credit card that rewards users with cashback and other perks. Crypto.com users can also earn interest on their crypto assets by staking them on the platform or using the Crypto Earn feature. Crypto.com is also known for its security and compliance standards, as it has obtained several certifications and licenses from various regulators.

B. Summary of Crypto.com's key disadvantages

Crypto.com's fees can be high if users do not hold or use CRO tokens, especially for credit and debit card purchases. Some of its services are not available in certain regions, such as the U.S., due to regulatory restrictions. Crypto.com's customer support has been criticized for being slow and unresponsive at times. Crypto.com's staking program also has some limitations, such as locking periods and minimum amounts required. Crypto.com users also face the risk of losing their funds if the platform is hacked or goes bankrupt, as cryptocurrency exchanges are not insured by any government agency.

VIII. Conclusion on Crypto.com

A. Overall assessment of Crypto.com

Crypto.com is a comprehensive and user-friendly platform that caters to different types of crypto users, from beginners to advanced traders and investors. It offers a variety of features and benefits that make it attractive for anyone who wants to explore the crypto world. However, it also has some drawbacks and challenges that users should be aware of before using the platform. Crypto.com is not a perfect solution for everyone, but it is certainly one of the most popular and reputable ones in the market.

B. Recommendations for different types of users

For casual users who want to buy and sell crypto with ease, Crypto.com's app is a good option, as it allows them to access a large selection of currencies and pay with different methods. They can also use the app to stake their crypto and earn interest, or spend their crypto with the Crypto.com credit card.

For active traders who want to take advantage of market movements and leverage, Crypto.com's exchange is a better choice, as it offers more advanced tools and features, such as spot trading, futures trading, margin trading, and algorithmic orders. They can also benefit from lower fees and higher rewards by holding CRO tokens.

For long-term investors who want to diversify their portfolio and generate passive income, Crypto.com's DeFi products are worth considering, as they allow them to swap their crypto assets on a decentralized exchange, lend and borrow crypto on a peer-to-peer network, or participate in yield farming and liquidity mining schemes.

For creative users who want to explore the world of NFTs and digital art, Crypto.com's NFT marketplace is a fun and exciting place to discover, buy, sell, or trade unique and rare digital collectibles from various artists and celebrities.