Crypto.com review (2022) Review
Crypto.com is a cryptocurrency exchange that supports trading, investing, staking, wallets, NFTs, etc. They offer more than 150 different currencies and reasonable fees. They were founded in 2016 in Hong Kong and nowadays it serves users in 90 countries with a unique suite of cryptocurrency-related financial products. The more Crypto.com coin (CRO) you’re able to stake, the more benefits you’ll get from this exchange. If you`re a beginner, you might seek out a more beginner-friendly platform.
You`ll be surprised by their partners.
What can be traded
On the site, you can also utilize over 20 fiat currencies (e.g., GBP, USD, EUR, etc.), and popular assets available on the platform include:
They also offer their own coin, a CRO. If you hold a compelling stake in CRO, the company rewards. They may reward you with lower trading fees, higher staking interest rates, or higher credit card rewards.
They support several fiat currencies, including the Australian dollar (AUD), Canadian dollar (CAD), euro (EUR), pound sterling (GBP), U.S. dollar (USD), and Brazilian real (BRL) and this flexibility allows you to easily purchase crypto with your local currency.
Looking through their website I found nothing about their regulations, so I went to other reviews. Apparently Crypto.com is a fully regulated crypto company. That means it complies with all necessary financial and risk-prevention regulations. Why can I not find anything about it on their website. They have a regulatory email address, so I suppose, you can email them to get more information.
Crypto.com demo account
Using a demo trading account means that you don’t need to worry about losing money, you can learn and gain skills before you go live with trading. It’s a good educational tool for beginners. I’m a beginner and I’m looking to learn how to trade, test the platform or app and gain some knowledge, before I start. For me a Demo is a must. Unfortunately, Crypto.com does not offer a demo account.
Let’s say, Crypto.com exchange fees are competitive and transparent. Fees are volume-based, so the more you trade, the more discounts you can access. They charge withdrawal fees, bank transfer fees but deposits have zero applicable fees. There is no table or information about the fees on their website, or at least I haven`t found it. There is a page dedicated to the Metal Visa Card, where savings and costs are well explained.
And that’s where I found out that information about fees can be found in the ‘Fees & Limits’ section under ‘Settings’ in the Crypto.com App.
There is no “register”, “Join us” or “Sign up” button. In the top right corner, you may download their app. Or further down the main page, you can use the desktop app.
I tried the desktop app, because I am not ready to download anything. I need to see the platform and try it out at least. After clicking I’m in the Crypto.com exchange.
At the top, right, you can log in or sign up.
You can view the markets; you have the option to check out spot or margin or derivatives.
If you wish to sign up, you get a short online form to fill in. They ask for Name, DOB, nationality, email, password and referral code, if you hold one. Click to verify, sort out a small puzzle and go to create an account. Immediately you receive a verification email with a code you need to type in. You do the same with your telephone number, but new 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, so keep that in mind too. I`d say the registration process was simple, straightforward and fast.
Crypto.com is one of the few platforms that haven’t been hacked yet. If you’re new to cryptocurrency just like me, you may be overwhelmed by Crypto.com’s trading interface and as I have mentioned earlier, maybe want to seek out a more beginner-friendly, cheaper platform. The platform is downloaded to your pc or mobile phone. It is an exchange platform more or less dedicated to a pro, than a new user. You can access the terminal on PC desktop devices, from the mobile application or via APIs. The design is nice, modern and functions well.
The website is simple. It’s made of slogans, which tell you why to choose Crypto.com. No extra marketing blabber and no flashing lights or colors. It looks very professional. Everything worked as it should. At the top you have a simple main menu. Products, Company and Prices. The products are divided into beginners and pro-traders. For beginners they explain the app, the Metal Visa Card and other tools. The advanced traders have in more depth information about Exchange, DEFI and the Ecosystem.
A live chat bot is quietly waiting for your question the whole time and email addresses are there for contact. I found no telephone number and in the Company section you`ll find a support page with more information about certain Crypto.com tools and general questions.
Crypto.com is active on the standard social networks, such as Twitter, Facebook, Instagram, Linked in and YouTube. They also offer Reddit, Cryptocom, Crypto communities, KakaoTalk chat. On Facebook they post nearly every day. Videos, Podcasts and news. They have over 367 000 followers. Instagram is a bit more active with over 570 000 followers, but same posts as Facebook.
The other account I’m interested in is YouTube. Here they have 55 000 followers and quite a few videos. Some are just ads and marketing videos and I have come across a few “How to” videos.
Advantages and disadvantages of Crypto.com
First of all, although the website is nice and functional, I found it hard to get information about fees and their regulations. They have no telephone number on their website, but then there is a chatbot and several email addresses to use. The amount of social network accounts is impressive, and their partnerships are impressive too. The platform is an app to download, but you can’t use a demo account, that’s unfortunate for me as a beginner. The exchange platform is well designed, but difficult for starters. Crypto.com is good for you if you are an experienced crypto investor and don’t need a lot of crypto education. Because there is no educational support.
- A Visa card with cashback rewards
- Strong security measures
- No minimum deposit
- Live chat
- Difficult for beginners
- Poor customer service contacts
- Missing straightforward information about fees and regulatory
- Lack of educational resources
Pros / Cons