Even Hollywood megastar Matt Damon wants you to join Crypto.com.
In case you missed it, Crypto.com’s ad starring our favorite martian/assassin/Harvard genius got a ton of attention — and not all of it was good. (“Cringe-worthy” was a popular review tagline.)
But cheesy marketing tactics aside, how well does Crypto.com deliver on its promise of being “the best place to buy, sell, and pay with crypto”? And should you register for an account with Crypto.com?
Let’s dig in.
Crypto.com Pros and Cons
- Variety of crypto. Supports over 250 popular cryptocurrencies.
- Variety of transactions. Supports buying, selling, and trading crypto.
- Strong mobile app. It’s easy to manage crypto and perform transactions quickly and on the go.
- Affordable. Low fees for trading and no per-trade fee to maximize your investments.
- No crypto-to-crypto trading for U.S. users. A fiat currency must always be involved in the transaction to some extent.
- Limited customer service. Crypto.com currently offers only chat-based customer support, and there have been several customer complaints about its speed and quality.
What Is Crypto.com?
Crypto.com is a cryptocurrency exchange platform that allows you to buy, sell, and trade more than 250 different cryptocurrencies.
Founded in 2016, Crypto.com already has 10 million users in 90 countries. The massive variety of crypto is one factor that makes the platform stand out, as well as its low trading fees when compared to the competition.
There’s also a Crypto.com Visa card available. You can top off this card with crypto and earn up to 8% back with this Visa.
In the unlikely event of a loss, the company has insurance to cover millions in assets.
How Does Crypto.com Work?
Crypto.com requires you to sign up for an account, verify your identity, and fund your account to begin trading. The onboarding process is fairly simple, allowing you to sign up and verify your account within a matter of minutes.
Similar to a bank account, you will need to provide the following documentation to complete your account registration:
- First and last name
- Date of birth
- Mobile number to receive a one-time passcode (OTP)
- Photo ID submission
- Selfie photo
As a regulated exchange, Crypto.com places a high value on security, and follows the best practices for the Know Your Customer (KYC) process. This includes submitting a picture of your photo ID, as well as taking a selfie picture to verify your identity. This helps keep bad actors off the platform, and minimizes the likelihood of identity theft.
Once you have signed up and verified your identity, you can deposit funds to begin trading. To deposit U.S. dollars or other fiat currency, you can transfer funds via ACH or wire transfer. To deposit cryptocurrency, you can send crypto directly from your digital wallet to the Crypto.com app wallet. Just make sure you select the correct crypto, as each wallet address is unique.
And that’s it. You can then start using Crypto.com for crypto trading, earning interest, or buying NFTs.
Pricing for Crypto.com
One of the top benefits of Crypto.com is its low trading fee, lower than those of many of its competitors — allowing you to maximize your earnings.
The trading fee is 0.4% for new users on a total monthly trading volume of less than $25,000. As with most investment platforms, higher volume trades offer lower fees that can dip to as low as 0.04%. If you hold a significant amount of its coin, you get an additional discount on trading fees.
Crypto.com also doesn’t have any additional per-trade fees, which are common among trading platforms, making the Crypto.com platform an even more attractive option. It does, however, have transaction fees, such as a 2.99% fee for debit and credit transactions, which is on the higher side, but you can avoid this if you transfer money into your account via ACH (Automated Clearing House).
For a platform that offers such a large selection of crypto options, these fees are pretty reasonable and can save you money on your investments in the long run.
Crypto.com boasts several robust features that help this investment platform stand out from the competition.
Wide Selection of Crypto Assets
One of the biggest selling points for Crypto.com is its substantial selection of crypto offerings available. Currently, they have over 250 different cryptocurrencies on the exchange, which is significantly more than other comparable platforms. A subset of these currencies is also supported for staking.
Some popular cryptocurrencies available on the app include:
- Bitcoin (BTC).
- Ethereum (ETH).
- Cardano (ADA).
- Dogecoin (DOGE).
- Tether (USDT).
Crypto.com also offers its own currency, a CRO coin or CRO token. If you own a significant stake in CRO tokens, Crypto.com may reward you with perks, such as lowering your trading fees.
Although the platform is easily digestible for new and beginner crypto investors, it’s worth noting that the large selection of cryptocurrencies available can be hard to dissect for those who have not invested in crypto before.
Crypto.com is primarily a mobile app, available for iOS and Android devices.
With the mobile app, Crypto.com is easy to use on the go. From it, you can:
- Manage your connected bank accounts.
- Make crypto trades.
- Review transfers.
- Track and manage your Crypto.com credit card balance.
Keep in mind that Crypto.com is very much dedicated to being a mobile-first experience, so if you’re more of a desktop trading fan, this may not be the best platform for you.
Digital Wallet Options
Crypto.com offers a standalone crypto wallet to keep your assets safe, secure, and accessible for when you need them.
The Crypto.com app can connect to the DeFi wallet app, one of the most popular digital wallet choices that allows you to earn rewards and tokens, so you can keep all your crypto assets safe in one place.
Read more: 6 Best Crypto Wallets to Stash Your Bitcoin
Another aspect of Crypto.com that helps this platform stand out from the rest is that it hosts its own NFT marketplace.
NFTs are digital files such as visual art, video, or audio, which can be bought, traded, and sold. NFTs have exploded in popularity lately and at sky-high prices ($600,000 Nyan Cat, anyone?). If you’ve been tempted with purchasing NFTs, you can take a whirl through the Crypto.com NFT market.
Read more: The Complete Guide to Buying Your First NFT
My Experience Researching Crypto.com
When researching the Crypto.com platform, I found that it offered a simple user experience, though it is only available via its mobile app for U.S. residents. Signing up for an account was straightforward, as was verification, and I was able to log in to the mobile app without any issues.
The app provides a quick overview of the market and the homepage is customizable, which is a nice touch. The jump menu at the bottom allowed me to quickly cycle through several features, including the homepage, my accounts (digital wallets), a custom coin tracking, and details on the Crypto.com credit card. Having a dedicated button for the credit card seems like a bit much, and as a non-card user I cannot remove the menu button.
The app was responsive, and I could quickly jump through different cryptocurrencies, look up prices, and place orders to buy Bitcoin or any other crypto with a few taps. Overall, Crypto.com offers an intuitive mobile app, and while not made for advanced traders, it is a good experience for new users.
Who Should Use Crypto.com?
Crypto.com is very mobile-centric, and its mobile app design is fairly intuitive for crypto newbies. With quick access to favorites and the ability to buy and sell crypto quickly, the app is ideal for new crypto traders.
Crypto.com offers low fees compared to other major exchanges, charging 0.4% per trade, and giving discounts to high-volume traders. If you’re looking to trade crypto without the high fees, Crypto.com is worth a look.
Crypto.com vs. Competitors
Here’s how Crypto.com stacks up against two popular U.S.-based cryptocurrency exchanges:
Crypto.com Gemini FTX.us
Fees (maker/taker) Up to 0.40%/0.40%, depending on 30-day trade volume $0.99 to $2.99 for orders below $200; 1.49% to 3.49% for trades over $200.
up to 0.20%/0.40%, depending on 30-day trade volume
Up to 0.10%/0.20%, depending on 30-day trade volume
Trading options Buy/sell, trade, futures/derivatives, lend, NFTs, interest accounts Buy/sell, earn interest Buy/sell, margin, futures/derivatives, lend, NFTs, interest accounts
Funding options ACH, wire transfer, crypto deposit Wire transfer, ACH, debit card, crypto deposit Wire transfer, ACH, debit card, credit card, SEN, Signet, crypto deposit
Currency selection 250+ crypto, 20+ fiat 100+ crypto, 7 fiat 25 crypto, 1 fiat
Verification process 2–3 minutes 2–3 minutes Instant
Gemini is a user-friendly crypto exchange with access to over 100 cryptocurrencies, a well-designed mobile app, and even hot wallet insurance on crypto held in their digital wallet. Gemini also offers an app that lets you pay for regular retail purchases with your crypto balance.
Gemini charges much higher fees than Crypto.com on its standard platform, but offers discounted trading on the Gemini ActiveTrader® platform. Gemini also offers a credit card that pays crypto rewards directly into your account. Overall, Gemini is a secure place to buy crypto for beginners, but you may pay higher fees than other exchanges.
Learn more by reading our complete Gemini review.
FTX.us is an advanced cryptocurrency trading platform that offers a wide selection of trading tools and features for the most experienced traders. Users can access margin, futures, and options trading, advanced charting, and even programmatic crypto trading, as well as an NFT marketplace.
FTX.us has some of the lowest trading fees in the industry, with discounts available for high-volume traders, even as low as 0.00% for maker trades for users with over $50 million per month in trading volume. It also offers its own crypto debit card, allowing you to spend your crypto balance. FTX.us is ideal for active traders that want access to the most advanced trading platform around.
Learn more by reading our complete FTX.us review.
Crypto.com is a cryptocurrency exchange and investment platform worth considering. For crypto traders who are looking for an extensive list of currencies to grow their portfolio without outrageous trading fees, Crypto.com is a strong option.
The mobile app is also a big selling point and offers additional flexibility for trading — making it easy to see and manage all of your assets from one spot.
All in all, it’s a good option if you want to buy, sell, or trade cryptocurrencies. And with Jason Bourne’s stamp of approval to boot, it may be worth your time if you’re in the market for cryptocurrency.
Featured image: Ira Lichi/Shutterstock.com