Crypto.com Review: Is This Exchange Worth Trying?

In recent years, many cryptocurrency trading platforms have been developed. Among these platforms, we can mention Binance, ZenGo, and Crypto.com. In this article, we will review Crypto.com. The purpose of this review is to introduce the platform to you so that you can make an informed decision about Crypto.com.

What is Crypto.com?

Founded in 2016, Crypto.com is a platform where you can buy, trade, and stake cryptocurrencies. This Hong Kong-based company has experienced significant growth and now has 3,000 employees and over 10 million users. Crypto.com operates in 90 countries worldwide and does not intend to stop there, as the company aims to reach one billion users.

In terms of services, the site offers the Crypto.com exchange and the Crypto.com app, which meet various user needs. Throughout this article, we will provide our opinion on Crypto.com and its services.

Crypto.com Platform

Crypto.com offers two platforms: the App and the Exchange. With the Crypto.com App, you can buy, sell, and trade cryptocurrencies. The exchange is a more comprehensive platform accessible via mobile and web browsers.

Crypto.com App

Crypto.com has developed its app, available on Android and iOS mobile phones and tablets, for those just starting out. In fact, many users are looking for a simple solution to buy cryptocurrencies via their phones. Currently, about 250 virtual currencies are available.

Immediately after downloading, you will be asked to verify your identity by entering your name, submitting an ID card, and taking a selfie. The verification process may take up to 48 hours. Once this initial step is verified, you need to secure your account. Instead of a simple access code, biometric authentication is recommended here.

The main page provides an overview by showing your account balance, cryptocurrency news, and highlighted cryptocurrencies that you want to closely follow. From this tab, you can obviously buy, sell, trade, or transfer cryptocurrencies.

As a reminder, purchases can be made with a credit card, from your crypto or fiat wallet. These two options require depositing money into the app (via bank transfer or from an external crypto wallet).

The wallet tab allows you to find the total amount of your money and its distribution if you have various cryptocurrencies. The daily profit and loss percentage change is also displayed. This gives you a quick look at your performance. Additionally, there is an option to convert your small crypto balances to CRO, known as Crypto Dust or leftover cryptocurrencies. These are amounts below the transaction limit.

The track tab lists available cryptocurrencies so you can follow their charts at a glance. A simple setting allows you to add them to your favorites to show them at the top and even set an alarm (in terms of price or percentage change).

Finally, the card tab allows you to order and manage your Crypto.com Visa card. Therefore, the Crypto.com app is relatively well-designed but has fewer features compared to the super intuitive app offered by ZenGo.

Crypto.com Exchange

Crypto.com is not limited to the app we discussed earlier. The exchange offers a trading platform where you can trade over 200 currency pairs. The Exchange App is accessible on both desktop and mobile.

Before proceeding, note that these options are only available to eligible users, meaning those who have completed advanced level verification. In any case, if you want to use these two platforms, you must create two separate user accounts.

Remember that only cryptocurrencies can be exchanged here. You cannot use fiat currencies. Therefore, you need to transfer your cryptocurrencies from the Crypto App or an external wallet to this platform.

Many cryptocurrency pairs are available, but if you want more choices, you should select USDT. When you place an order, you will find it in the “open order” section below (even if it is not executed immediately). You can close an order at any time.

The exchange also offers futures trading. Here, leverage can be up to x100 depending on the total exposure of users, i.e., positions and open orders. In our opinion, this tool should be used with caution.

As you can see, many features differ from the Crypto.com App. This exchange is designed for more experienced traders.

CRO Token in Crypto.com Transactions

CRO is the token of Crypto.com. This token has been very successful worldwide and follows a positive trend. For Crypto.com users, there are numerous benefits to holding this cryptocurrency.

CRO can be used to pay transaction fees, earn higher cashback percentages, or even receive better interest rates. Transaction fees are lower and rewards are higher when using CRO.

Crypto.com Visa Card and Pay

The Crypto.com ecosystem allows users to make purchases using their cryptocurrencies, either directly with a Visa card or online when crypto payment methods are accepted.

Therefore, you can order a Visa card for your expenses, which is directly connected to your Crypto.com wallet. This is a good way to use your cryptocurrency while benefiting from additional perks. These perks vary depending on the card status and the amount of CRO staked.