Cryptocurrency is on the rise these days, but many people are apprehensive about delving deeper into it. But, of course, there are many reasons why because scammers and people who want to fool others use cryptocurrency as one of their platforms to scam people. Hence, many people have become wary if cryptocurrency is really a legitimate and genuine platform in the economy.
Crypto com is known as one of the most reputed firms in cryptocurrency, with Forbes listing it as one of the most reliable ones on the market today. This review will help users understand more what it is about, how it works, and how you can benefit from it.
Introduction
Founded in 2016, Crypto.com started in Hong Kong as Monaco Technologies GmbH with Kris Marszalek as their CEO. They went through the cryptocurrency market with their slogan “Spend anywhere without fees,” motivating them to continue doing so as their mission in existence.
According to the company’s website, they work under the values of thinking clearly, being resourceful, staying determined, dreaming big, taking ownership, being decisive, and remaining humble. From their headquarters in Hong Kong, Crypto.com is now doing business worldwide. They have dedicated heads overseeing the developments and progress of their respective regions, from North America to Latin America and even in Europe.
In addition, Japan has its own dedicated head, which is seen as a step in the right direction as Japan continues to be one of the world’s biggest economies today.
They have over 2500 employees, with 10 million users in over 90 countries and 30 local communities.
The overall rating of CryptoCom customer reviews is 2.40/5 stars. Customers complained Crypto.com has high transaction fees, spam emails and mass app push notifications.
Features
Flexible Interest Rates
Crypto Com has its Earn program, where user can get up to 14% annual gains on deposits, with the minimum requirement of having more than 30 cryptocurrencies, regardless of the type that user chooses to loan out.
They also offer to lock in the rate of choice as rates may change, with two options: lock interest rate for a month or a three-month term. They also allow users to withdraw by USDC. Nevertheless, the high-interest rates set, apart from any other cryptocurrency institutions, as stated in this review.
NFT
This feature allows the users to access exclusive NFT collections from different entities, ranging from athletes, A-list celebrities, and brands. All they must do is sign up to NFT, a user-friendly platform that makes buying NFTs much more accessible through their credit or debit cards. They can also sell their collectibles in the dedicated Marketplace. Everyone gets a chance to buy whatever collectibles they want because the starting price is zero dollars. This operates on a bidding system, so the highest bidder gets their collectible of choice.
Spot Trading and Exchange
This feature is perfect for those who want to maximize the benefits they can get from. With this exclusive feature, users can trade top cryptocurrencies at the best execution prices. It also deals with deep liquidity and the lowest maker and taker fees in the cryptocurrency field. In addition, they also have a referral program. With every successful referral, user can get a 50% commission on referral’s trading fees for a year, on top of the $2000 referral bonus.
App
Crypto Com app will enable you to buy over a hundred cryptocurrencies at actual cost. The app also allows users apply crypto Visa card. With the Visa Card, users can pay for daily purchases such as groceries, clothes, electronics, and other sales with crypto balance.
Crypto Visa Card
Any review will not be complete without talking about this unique Cashback Visa Card that they provide to their users.
This card is a prepaid Visa card that also acts as a rewards debit card. This allows you to spend your crypto balance on daily purchases since not many establishments have accepted cryptocurrencies as a form of payment.
It has unique features in store, such as rebates for online streaming services like Spotify and Netflix, rebates on Airbnb, free ATM withdrawals, and a cashback feature that allows you to get up to 8% cashback on purchases paid using the card.
This is an excellent feature for those dedicated to using crypto, which shows how Crypto Com lives up to its commitment to being resourceful and dreaming big.
| Exchange Name | Binance |
|---|---|
| Fiat Currency | Yes |
| Withdraw to Bank | Bank must support USDC. |
| Payment Type | Credit Card |
| Trading Fees | 3% to 10% |
| Non Supported Countries or Places | Depends on Policy |
Comparison
Crypto Com VS Coinbase
Binance is not only famous because of its user-friendly navigation, robust security, and versatile trading platforms. It’s also known for providing more trading options for traders and investors.
Most trading companies offer the standard Spot Trading, known as the direct purchase or sale of bitcoin or other cryptocurrencies. In this kind of trading, the users can directly buy or sell their crypto to other traders. Moreover, spot trading offers a straightforward way to trade since the risks and profits for this type are proportional. Thus, what the traders invest is what they get.
On the other hand, Margin Trading allows traders to purchase or sell crypto using borrowed funds. However, the trader should first offer a margin or collateral to initiate the Margin trade. It’s way more profitable than spot trading since it can leverage the traders’ investment, but it’s also riskier. So, traders need to understand and study the market trend first before initiating margin trading.
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- Binance is the No.1 digital assets trading platform
- BingX is the No.1 crypto social trading platform.
Conclusion
Crypto.com is one of the most informative and convenient crypto exchanges, especially for complete newbies in the crypto game. Its easy-to-navigate platform is beneficial to starters, features simply defined for the newbies, and it is also helpful to those who want to try what crypto is all about.
It offers many different features that users would love to use, including a Visa card that they can use for their daily purchases. With over 90 plus cryptocurrencies under its wing, The exchange allows users to explore the many different options in cryptocurrencies, showing how much a user can earn by buying, selling, or trading it to other users on the platform. They also have high-interest rates, which can come in handy because of the volatile changes and fluctuations in cryptocurrencies. They also offer exclusive features not available in any other cryptocurrency exchange platform, such as the Exchange and NFT features. These features set them apart from many other exchange platforms.
It may have some cons, but Crypto.com is working on enabling many users to fully enjoy their wide range of offerings wherever you are in the world. This review has helped users understand more about it and why many people use it for their crypto exchanges with other people from all over the world.
Overall Scores
The review will not be called one if it fails to discuss the different advantages and disadvantages. Therefore, this section will highlight various strengths and weaknesses, and helps users decide if this is the proper exchange.
Pro: Beginner-friendly
For those who want to start in crypto or are just curious about how it works, Crypto.com is the best exchange. It is easy to understand, easy to use, and easy to navigate. Many newbies would find this a beneficial stepping stone to understand everything about crypto and manage cryptocurrencies without any hassle.
Pro: Cashback Visa Card
Not all cryptocurrency exchanges offer a Visa card that they can use in making daily purchases. This Visa card also rewards its users with many different rebates, cash backs, and other features. Although these features will be maximized by those who devote themselves to the crypto trade, this is still a good feature. It bridges the gap between fiat currencies and crypto. Furthermore, this is a good step for the different businesses to accept and recognize that crypto works fine.
Pro: Many Cryptocurrencies Available
One of the significant pros of Crypto.com is that they have a wide range of cryptocurrencies that traders in the United States can enjoy to the fullest. Crypto.com has over 90 cryptocurrencies in its platform, from the popular ones such as Bitcoin, Ethereum, Litecoin, USD Coin to the more underrated ones such as Polkadot, Elrond, Band Protocol, Ardor, Ark, Cardano, and many others.
Of course, the high-interest rates and low maker-trader fees are also applicable across all cryptocurrencies, and you can make the most out of your crypto balance with Crypto.com’s varied options.
Pro: Flexible Buying and Selling Options
Users can buy and sell crypto with any mode of payments, from fiat to cryptocurrency.
Pro: Regulated and Trustworthy
With many scammers and thieves using cryptocurrencies as a part of their scamming techniques, Crypto.com has assured everyone in the platform that their transactions, be it buying, selling, or trading, are regulated under existing applicable laws in many different countries. Users can also rely on the exchange’s top-notch security systems, keeping everyone’s minds at ease without worrying that their earnings and crypto balances will be stolen.
Con: Geo-restrictions
Even though Crypto com operates in more than 90 countries worldwide, some countries do not provide services yet. For example, trading derivatives are not allowed in the United States, the United Kingdom, China, Switzerland, Japan, France, Germany, Malta, etc. However, the exchange is committed to expanding to many different locations worldwide to serve more and help more people get into crypto as seamlessly as possible.
Con: Not Enough Education Sources
This is also one of the weaknesses. Even though it is much easier than any other crypto exchange, it can also be challenging to find more additional resources for its users. Often enough, users get information from other users or from reviews and forums, which tends to be misinformed and bias at some points. They must provide valuable information and detailed explanations to their many services and offerings without having to scour everywhere for some facts. Also, having relevant education sources on their website, created by those in the company, would be really helpful to sort out any misinformation caused by biases due to several factors, such as user experiences.
Con: Some Features Not Available to US Residents
Aside from some geo-restrictions that might happen, other features are not available to US residents as of this writing. For instance, US residents will not enjoy the Exchange as it is unavailable in the country. However, as mentioned earlier. Crypto com recognizes the needs of many people from different parts of the world in terms of crypto through its platform. Because of that, they are working harder to ensure that everyone interested in trying their services will be catered and always accommodated, regardless of their country of origin. However, suppose you are residing in the United States.
Con: Rewards and Perks Paid in CRO
Crypto com has its own cryptocurrency, called the CRO, which they use in providing many different perks and cashback to their users, especially those who use the Crypto Visa card. However, this can be a hassle since it is subject to fluctuating rates. That means the rewards might get bigger or smaller in value depending on when users want to withdraw them. Also, user must cash it out to USDC to be able to use it in daily transactions, which can be a hassle.
