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Crypto.com is a cryptocurrency exchange that supports trading, investing, staking, wallets, NFTs, and more. This exchange offers more than 250 different currencies, reasonable fees, and discounts for those who hold a significant stake in Crypto.com native coin, CRO. Its ecosystem of crypto-related products could make it a good choice for those looking to do a lot with their cryptocurrency.
- Pros and Cons
Extensive list of supported cryptocurrencies
Transparent, competitive fees with discounts available
Support for an ecosystem of cryptocurrency products
Hardware wallet support for Crypto.com wallet
Higher fees unless you hold and use CRO
Poor customer support
Trading fee discounts can be confusing to navigate
- Year Founded 2016
- Official Website https://crypto.com/us/
- Cryptocurrencies Available 250+
- Customer Support Help page, email, chat
Unlike traditional brokerage firms, cryptocurrency exchanges are not members of the Securities Investor Protection Corp. (SIPC). Therefore, unless user terms specify otherwise, investors with cryptocurrency assets commingled on a custodial cryptocurrency exchange could potentially lose their funds as unsecured creditors.
- Extensive list of supported cryptocurrencies: Support for more than 250 currencies with spot trading, futures, and advanced order types.
- Transparent, competitive fees with discounts available: Crypto.com offers competitive trading fees up to 0.40%, with discounts available.
- Support for an ecosystem of cryptocurrency products: Crypto.com supports cryptocurrency trading, staking, and swapping. It also offers its own credit card, crypto wallet, and allows users to buy, sell, or trade NFTs.
- Higher fees unless you hold and use CRO: Crypto.com users with a significant holding of CRO currency can get discounts on their trading fees.
- Poor customer support: Customer complaints mention slow and low-quality customer support responses.
- Trading fee discounts can be confusing to navigate: Crypto.com’s trading fee discount tiers may be complex to navigate.
- Hardware wallet support for Crypto.com wallet: In November 2022, Crypto.com announced support for Ledger wallet. Users can import their Ledger wallet into the Crypto.com wallet extension.
Crypto.com is a prominent cryptocurrency exchange with support for a range of crypto assets and blockchain-related products. Users can buy, sell, and trade an extensive list of currencies, and enjoy relatively low trading fees. Additionally, the company offers cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace. It also allows users to stake their crypto, or hold it in a Crypto.com wallet for a set period, to earn up to 14.5% interest. However, staking crypto could turn out to be risky as you are required to lock your cryptocurrencies for a certain period of time.
For those looking to buy and hold currencies like Bitcoin and Ethereum, Crypto.com could be a good choice. Fees are limited to 0.40% and decrease with high trading volume or a significant holding of the CRO currency. Crypto.com currently supports 250 currencies and offers advanced order types, and you can also trade crypto futures on its platform.
Remember that the cryptocurrency market is volatile and these investments are considered high-risk, so only invest money you can afford to lose.
Investing in cryptocurrencies, Decentralized Finance (DeFi), and other Initial Coin Offerings (ICOs) is highly risky and speculative, and the markets can be extremely volatile. Consult with a qualified professional before making any financial decisions. This article is not a recommendation by Investopedia or the writer to invest in cryptocurrencies nor can the accuracy or timeliness of the information be guaranteed.
Crypto.com was founded in 2016 in Hong Kong. It currently offers more than 250 cryptocurrencies to over 70 million customers worldwide. Crypto.com serves users in 90 countries with a unique suite of cryptocurrency-related financial products.
The long list of currencies, low pricing, and additional features make Crypto.com suitable for beginner to advanced cryptocurrency users. However, beginners may find the plethora of features intimidating.
Overall, Crypto.com is best for those who want to do more with their cryptocurrency than simply buy and hold. It’s a good platform for active traders and anyone interested in using crypto as an actual currency, not just an investment.
Cryptocurrencies Available on Crypto.com
Crypto.com supports more than 250 currencies for spot trading, with a subset supported for staking. While there are too many currencies supported to list them all here, you can count on being able to buy and sell most of the highest-traded currencies. (View the full list of available assets.)
Popular assets available on the platform include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polkadot (DOT)
Crypto.com also offers its own coin, CRO. If you hold a significant stake in CRO, the company rewards you with lower trading fees, higher staking interest rates, and higher credit card rewards.
Trading fees at Crypto.com start at 0.40%. High-volume traders and those with a large CRO stake can qualify for fees as low as 0%.
The central hub for Crypto.com is its mobile app, which is available for Android and iOS devices. If you are accustomed to trading stocks using a mobile app, you’ll likely find the experience intuitive and straightforward.
With the Crypto.com app, you can quickly view your portfolio and a list of popular assets. The mobile app includes everything you need to trade currencies, earn through staking your crypto, make payments with cryptocurrency, or sign up for a Crypto.com credit card.
Its chart tools are relatively simple and don’t give you a ton of data. However, each currency’s page includes a brief overview and links to more detailed information so you can learn how the blockchain and currency work before buying.
Crypto.com also supports several fiat currencies, including the Australian dollar (AUD), Canadian dollar (CAD), euro (EUR), pound sterling (GBP), U.S. dollar (USD), and Brazilian real (BRL). This flexibility allows users across several countries to easily purchase crypto with their local currency.
New Crypto.com users without any CRO staking will pay 0.075% on trades with a total monthly trading volume of less than $250,000. Trading fees are a little less than what you’d see with some large industry competitors, but not the lowest around.
Higher-volume traders can qualify for fees as low as zero as a maker or 0.05% as a taker without CRO staking. Discounted trading fees are available when you hold at least 1,000 CRO in your wallet. At that point, traders with up to $250,000 in monthly volume pay 0.0728%. Rates decrease with a larger stake.
There are no additional per-trade fees, so Crypto.com is competitive when it comes to pricing.
Crypto.com uses various security measures, including multi-factor authentication (MFA) and whitelisting, to help keep customer accounts safe. Of course, it’s also important to use a strong password and personal online security practices to help protect your account. Cryptocurrency transactions can’t be reversed, so it’s unlikely you’ll recover any lost crypto if your account is breached.
In addition to its security measures, Crypto.com uses robust compliance monitoring and stores customer deposits offline in cold storage to help prevent hacks and losses. It also works with local banks in the U.S. to provide $250,000 in FDIC insurance on U.S. dollar balances.
Opening a Crypto.com Account
To create a Crypto.com account, download the Crypto.com app from the Google Play Store or Apple Store. Open the app and start by entering your email and choosing a password. New Crypto.com accounts are verified using your name, a picture of your photo ID, and a selfie. After that, you’ll need to link a payment method, such as a bank account.
If you’re linking a bank account in the United States, you’ll be prompted to enter Know Your Customer (KYC) details to verify your identity, including your name, contact information, and Social Security number. Fully verified users can deposit funds and make withdrawals up to Crypto.com’s daily and monthly limits.
The new account setup process, including KYC verification, generally takes less than ten minutes. If you’re a fast typer and have your ID handy, you can probably do it in five minutes or less.
Crypto.com customer support is available via a help page, email, and live chat. There is no phone support for Crypto.com customers. While customer service is available by email and chat, several users report slow responses and a lack of help resolving account problems.
Crypto.com earns mediocre customer reviews overall and is rated just 2.0 out of 5 stars on Trustpilot. Most negative reviews focus on poor customer service experiences, locked accounts, and trouble with withdrawals. Others mention hacked accounts and lost funds, which is concerning.
Poor customer service is fairly common among cryptocurrency exchanges, and Crypto.com isn’t any different. It’s generally a good idea to consider Crypto.com to be a self-service website, as customer support isn't necessarily helpful. It’s likely best for those who are somewhat comfortable with online financial products and won’t need much assistance.
Users can easily view their Crypto.com accounts and assets in the mobile app.
Through the app, you can also manage your bank accounts, review transfers, make crypto trades, and track your Crypto.com credit card balance.
How Crypto.com Compares to Other Cryptocurrency Companies
Crypto.com and Coinbase are both popular exchanges in the United States. Compared to Coinbase, Crypto.com offers a more extensive list of tradable assets and lower trading fees. However, its platform isn’t as easy to navigate as Coinbase, and the trading experience isn’t as beginner-friendly. But depending on your needs, Crypto.com could be a better choice.
Here’s a breakdown of significant differences between Crypto.com vs. Coinbase:
Crypto.com vs. Coinbase
- Crypto.com charges up to 0.075% for trades, while Coinbase Pro charges 0.60%.
- Crypto.com supports more than 250 virtual currencies, while Coinbase supports just 158.
- Coinbase offers an intuitive, user-friendly platform that may be easier for beginners to navigate than Crypto.com.
Both Crypto.com and Coinbase could work well for different trading and investing goals. Depending on your needs and trading experience, you may choose to open an account with both.
Crypto.com is a good choice for cryptocurrency traders looking for a platform with relatively low fees and an extensive list of supported currencies. It’s best for people who feel confident managing a financial account through a mobile app and may be ideal for those with intermediate cryptocurrency knowledge and experience.
Like other cryptocurrency exchanges, customer service isn’t a strong suit for Crypto.com, so plan on a primarily self-service experience. If you’re comfortable with that, Crypto.com could be a suitable option for your needs.
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Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review.
Crypto.com. "Fees & Limits."