If you’re looking to do more than merely buy, sell and hold your coins, then you’re going to love what’s in store in this Crypto.com review. Let’s take a look at why below…
For those serious about the future of crypto, this platform will be of huge interest, as Crypto.com is way more than just an exchange. As well as being able to trade cryptocurrencies, you can also stake your crypto or hold it for interest. On top of that, there’s a crypto wallet, NFT marketplace, and a whole lot more.
Crypto.com: Pros & Cons
- Over 250 cryptocurrencies
- Lending and staking also available
- Next-generation blockchain
- Customer service sometimes slow
- Customer service sometimes slow
The first impressions of the Crypto.com website are that it looks slick, well-designed, and extremely futuristic. The matted black background allows the simple fonts to stand out in what is an overall minimalist design. The site looks high budget, and that’s backed up by the celebrity-led video that pops up when you land on the page.
In terms of the actual usability, the website is super easy to navigate and it’s extremely transparent – that is to say, nothing is hidden. Everything that you could wish to find can be discovered via the drop-down menus in the bar across the top of your screen.
When it comes to the products available, Crypto.com divides them into two categories: getting started and advanced trading, which makes the site great for users of all experience levels. Beginner traders are directed towards the buy and sell, spending, and growth functions, while advanced traders are also pointed towards the exchange defi and ecosystem.
All in all, Crypto.com is way more than your run-of-the-mill crypto exchange, and that’s apparent from the outset. You have access to things like crypto wallets, credit cards and DeFi crypto loans, as well as an NFT marketplace and more. Additionally, Crypto.com even has its own next-gen blockchain, which looks to be pretty exciting.
Crypto.com has centered all of its services around mobile trading and therefore the app is an absolute must-have. You can download it on both Apple and Android devices from all major app stores, including Google Play and App Store. The app makes it easy to view your portfolio and access the tools and features within a few clicks, including the crypto lending platform. Overall, not only does the app match the website in terms of capabilities – we would even say that it actually surpasses it.
In terms of security, Crypto.com has a lot of high-level measures in place to protect customer accounts and funds. For starters, funds are stored in a cold (offline storage), which is the safest way to keep them safe from hackers and cyber attacks. Your account is protected by both whitelisting and a multi-factor authentication login system.
Naturally, the first step towards trading with Crypto.com and discovering their crypto lending rates is to create your account. The first thing we should point out once again is the focus on mobile trading, which means that you can’t create your account via the website. Therefore the first thing that you need to do is head to your app store and download the app.
To then get started, you simply need to enter your email and choose a password, after which Crypto.com will verify your account once you provide a photo of your ID and selfie alongside your full name and address. The final step before you can actually start trading is to link a payment method to your account.
The process of linking up your payment account to your Crypto.com account will differ depending on the payment method that you use and the country that you are in. In most countries, you will need to complete KYC in order to link your bank account – but that’s something we’ll cover later in this Crypto.com review.
Overall, if you have everything ready to hand, the whole registration process, including verification and payment KYC, should take less than fifteen minutes. You can then make your first deposit subject to the full limits and conditions with Crypto.com.
Once your account has been created and funded, you are ready to start trading and/or benefiting from one of the numerous other functions, such as the crypto lending calculator. Through the app, you can quickly and easily access all of the trading platforms, which are really easy to use. Even the more complex platforms have been designed in a way that shows you only the information that you need to know. However, that doesn’t mean that anything is missing and the interface is customizable. Overall, this is a great app for traders who want to grow and broaden their horizons.
When it comes to buying and selling cryptocurrencies with Crypto.com, the way to get the lowest fees is to use your credit/debit card or purchase via bank transfer. You can use one of 20 fiat currencies to buy crypto here, including USD, GBP, EUR, and more. When it comes to actually depositing funds into your account using a cryptocurrency, there are no fees charged at all.
For withdrawals, there are daily and monthly limits and the fee that is charged per withdrawal depends on both the coin and the network that you wish to withdraw to. As always when making deposits and withdrawals using crypto, selecting the correct currency and blockchain address is essential if you don’t want the transaction to fail – which you don’t of course.
We should also use this section of our Crypto.com review to talk a little bit about their own payment services. As well as offering a crypto wallet and its own blockchain, Crypto.com also offers a range of Metal Visa Cards. Your Crypto.com Metal Visa Card can be topped up with fiat or cryptocurrencies and it comes with no annual fees.
You can then use it to withdraw from ATMs and pay for goods and services, including the likes of Spotify and Netflix. There are four tiers of Crypto.com Metal Visa card, each with different account minimums and benefits. As you can see by using our Nexo.io review as a reference for comparison, the Metal Visa Card is something that’s pretty unique.
The Crypto.com customer service team can be reached 24/7 via email and live chat services. Naturally, the live chat service is the most convenient and can be opened at the click of a button in both the app and on the website. The live chat function works extremely well and the level of service is excellent.
The only downside is that at certain times of the day, the response times can be quite slow compared to some of Crypto.com competitors – see our KuCoin review as one such example. However, when the response time is likely to be slow, you will be forewarned via a message.
There’s no need to rush to the live chat the first time that you run into a problem. If it’s an issue that can easily be resolved, such as help with ID verification or asking how do crypto loans work, then the help center should suffice. From our experience, there’s only a real need to contact customer service for what we would call ‘bespoke’ issues.
Crypto.com is licensed in multiple countries and jurisdictions throughout the world, including the majority of US states. All USD account balances with Crypto.com also have FDIC insurance that covers up to $250,000. In Europe, Crypto.com is run by Foris DAX MT Limited, a company that is based in Malta and is authorized to provide a number of VFA services.
Additionally, Crypto.com also holds a number of licenses globally, including an Australian Financial Services license. During our research for this Crypto.com review, we could find no history of regulation breaches or any red flags with raising.
Crypto.com’s security measures are about as airtight as they can be. As mentioned previously they have a multi-factor authentication login system to protect your account and keep your funds in an offline storage. Additionally, all deposits are screened for compliance reasons and their crypto wallets have strict access rights. Overall, not only is Crypto.com safe, we would go as far as to say that it’s a trailblazer in crypto exchange security.
Reputation and customer feedback – Largely positive
In terms of the actual services offered by Crypto.com, the reviews from existing users are extremely positive. People seem to like the fact that it is a platform that has been built for more than simply trading in cryptocurrencies and that it has multiple functions without having an overly complex platform. On the other hand, we have seen the odd Crypto.com review complaining about the slow customer service. You can check out our Celsius Network review for a comparison.