Crypto.com Payment and Digital Asset Platform Review
This platform was founded in 2016 and has over 3m users worldwide. The platform is always adding new features and offers to its products, including the exchange, mobile app, wallet, and MCO Visa cards.
Its exchange was launched in 2019, and it is powered by its native token, crypto.com coin, CRO. What this means is that CRO holders enjoy certain benefits from crypto.com. Users can trade over 70 market pairs, including BTC, ETH, XRP, and other popular tokens. You can access this platform through a desktop or mobile app.
A point to note is that this platform does not accept traders from the US.
Pros and Cons of Crypto.com
Pros
- There is a $50 sign up
- Several deposit and withdrawal methods
- Added benefits when staking CRO
- User-intuitive trading platform and mobile app.
Cons
- Not available for US residents
- High fees
- Limited trading assets
Security
Security is a top priority to consider when deciding on an exchange to use. Crypto.com has necessary measures in place to make users trust them. Some of the features are two-factor authentication, cold storage, and mechanisms and collaboration across the industry, such as Ledger.
Additionally, crypto.com also has insurance policies in place to cushion users. Transparency is also forefront on this platform through stringent verifications.
Fees
Their fees and commissions are competitive. The fees start from 0.2% on both sides of the trading volume if your trade volume is up to $50k per month, and it reduces at a sliding rate. The fees go down to a low of 0.04%/0.1% if you exceed $10m in trade.
Standard PayPal fees also apply. If you buy crypto using a debit/credit card, you are subject to a 3.5% fee plus $0.10. this platform also has a promotion where retail traders who stake at least 5k CRO in this exchange can earn up to 0.10% on taker fees. Additional trading discounts are also available in the form of rebates depending on the amount of CRO staked. To be eligible, fees should also be paid in CRO.
Customer support
There is an instant chat service that is continuously attended to by a bot. You can leave a message, and the support team will get back to you. Furthermore, there are questions that you can find solutions to under the FAQ.
Final word
Even though crypto.com is a new exchange, the parent company has been in operation long enough. Consequently, there is a substantial degree of trust, which boosts its reputation. Even though there is a limited number of assets within the exchange, its broader ecosystem will offer several ways to earn, save, and trade.
Fees and commissions are also competitive, and the trading platform is easy to use. These are positive points that attract traders. In 2020, crypto.com launched a DeFi wallet and DeFi swap services.
This is a nice place to manage and trade your cryptos.
