Crypto.com Review

Here Are the Pros and Cons of Crypto.com

Crypto.com fact sheet

Crypto.com believes that security and data privacy are the foundations of achieving mainstream cryptocurrency adoption. They make sure to protect users' funds at every cost and recently they acquired a $750 million insurance policy which is the biggest on the market.

They have managed to gain the trust of millions of people and a huge number of traders believe that Crypto.com is the safest exchange available out there today. But how did they achieve it?

One of the biggest advantages Crypto.com has is that they are available in 49 out of 50 US states as well as 89 other countries. They also hold some operating licenses from different regulators around the world.

Here is a list of regulatory bodies that license Crypto.com:

• FinTRAC of Canada
• AFSL of Australia
• VARA of Dubai
• MFSA of Malta

Having these licenses and being on track to acquire even more gives Crytpo.com a good trust factor.

Security Measures Taken By Crypto.com

Crypto.com is built on safety. These licenses are a good start, but Crypto.com implements other security measures to guarantee users' safety. They try to make sure nothing goes wrong and even if it does they are able to combat most problems.

Crypto.com has acquired the status of the most insured crypto exchange in the world when it comes to crime insurance. They have a $750 million dollar crime insurance policy which guarantees that if something goes wrong on their side, the users who will be affected won’t suffer losses. If you are a US citizen, you also have access to $250 million of standard FDIC insurance on your USD balance, as this fiat currency is stored in bank accounts.

Crypto.com also offers a high-quality multi-factor authentication system to its users. This system protects all transactions using passwords, biometrics, email, phone, and authenticator verifications. These security measures make sure that you are the sole person who has access to your funds and nobody else will be able to make transactions even if somehow they get a hold of your account details.

Cold wallets are another security measure Crypto.com utilizes to make sure that the assets of users are protected at all times. Cold wallets are wallets that are disconnected from the internet and are invulnerable to online hacking. Crypto.com stores 100% of users' crypto funds on cold wallets, which means that every single coin and token is off the grid anytime and only you have access to them.

Crypto.com allows users to trade with many different cryptocurrencies. Here you will be able to find the most famous and established tokens such as Bitcoin, Ethereum, Dogecoin, and many others. In total there are more than 250 cryptos and 350 trading pairs available on the exchange.

Such a diversified selection allows traders to find the most sought-after cryptocurrencies and trading pairs. It gives traders opportunities to make good investments and gain huge returns.

You are also able to use different trading strategies. You can buy and hold cryptos for long-term investments, use day trading strategies for quick gains, and many others, as Crypto.com makes sure that traders feel comfortable while using their exchange.

Some of the cryptos you will be able to trade on Crypto.com are:

• Bitcoin
• Ethereum
• Dogecoin
• USDT
• XRP
• Solana
• Cardano
• Shina Inu
• Litecoin

These are just some of the examples and there are many more cryptocurrencies available for trading. So if you are looking to diversify your portfolio, Crypto.com is a great place to do so.

But, since Crypto.com operates in 90 different countries there might be some differences in each country when it comes to cryptos that are available for trading. As crypto is a new concept in the world of finances, there are very few universal rules. Because of this, each country has its own regulations and not all cryptos can be available for trading in every location. So do some research to see if your country is supported by Crypto.com and which currencies you can trade with.

Also, deposit methods can vary from country to country. You might be able to make SWIFT deposits in one location and only debit card transactions in another. 

While doing research for this review, we found that when it comes to trading fees, Crypto.com uses a taker/maker fee system to determine how much fees each person has to pay. Crypto.com also takes into account how much CRO you have staked and gives discounts on fees based on that.

Some might ask who the takers and makers are. To put it simply, takers are those who buy tokens at current prices while makers are those who place futures and buy and sell crypto at their desired price.

Below, we will present you with a graph showing how taker/maker fees are calculated on Crypto.com.

Crypto.com also offers discounted fees for those who stake CRO, Crypto.com's native token. These discounts depend on the amount of CRO staked.

Trading on Crypto.com is an enjoyable and beginner-friendly experience. Here you can trade on the spot market, as well as margin and futures trading. Crypto.com also offers P2P trading where you can contact sellers or buyers directly and decide on the price between yourselves.

Crypto.com also offers a wide selection of cryptocurrencies that can be staked for good APYs that will satisfy most traders. In total, you can stake 37 cryptocurrencies on Crypto.com, but you will also need to stake Crypto.com's native token, CRO, to benefit from high APYs.

Additionally, Crypto.com has an OTC desk where they facilitate large crypto transactions with high-quality customer service and speed.

While working on this review, we took a deep dive into the Crypto.com website. We did so to make sure new users will be able to easily navigate through the website and find what they are looking for.

Crypto.com has one of the most creative and innovative layouts. You are able to easily navigate your way through the website, as everything is laid out really neatly and is visually pleasing. You can easily find the most searched information at the top toolbar, while the least searched for info can be accessed from the bottom toolbar. 

The website also has one great function. They have customer support which is very easily reachable. You can find a small chat icon at the bottom left of your screen. Here you can search for different solutions to your problem or have a live chat with the support team. However, it is also important to note that there are a good number of users who have shown their disappointment in the quality of customer support.

Crypto.com has one of the richest and most diverse educational material archives available. These educational materials are key instruments that new traders, as well as veterans, can use to make their trading more profitable and be able to easily learn about the crypto world.

Crypto.com divides its educational and informational materials into 6 different categories.

What’s Trending?

In this section, you will be able to find all kinds of information that are trending right now and are gathering attention. This section is kind of everything put together. Each of the articles available in this section will give you really valuable information, which will help you to make different kinds of decisions.

Events

The Events section is one of the best sections where you can get information about upcoming events. These events can be conferences, AMAs with different industry leaders, or upcoming NFT drops. We believe the most useful of them are promotional events where traders can receive different kinds of rewards for completing different kinds of tasks. 

Product News

Crypto.com is already a big player in the crypto market, but it does not mean they are slowing down on developments. They always try to add new features and develop groundbreaking products that users can take advantage of. In this section, you will learn about those developments and will know what is coming next on the exchange.

Market Updates

The crypto market sees new developments all the time. Because of this, there are countless new market updates each day, which are hard to follow. In this section, these updates are presented to us in a way that is easy for us to follow and better understand what is going on in the crypto world.

University

Crypto.com University is the place to go if you want to find out more about cryptos and how they work. They categorize material into three difficulty levels, beginner, intermediate, and advanced. This means that every person can find the information useful for them despite their experience in crypto. Here you can learn a lot of stuff about trading, DeFi, blockchain, and much more.

Research & Analysis

When you are a novice in the crypto world, it is hard to do research on your own and those who try tend to make big mistakes. This section of Crypto.com's education is designed to help those who are looking for deeper insights into the crypto world and want comprehensive analysis on many different crypto topics.

Pros & Cons of Crypto.com Education

Customer Support of Crypto.com

When it comes to customer support, there are mixed reviews from users regarding its quality. From our experience and review, we can see that their Help Center is crafted really well where you can find all kinds of information. They have different sections for different parts and functions of the website. When we go to each of those sections there are different topics and solutions for each topic.

Accessing customer support is really easy on Crypto.com. Whenever we are on an exchange, there is a small chat icon at the bottom right where you are given two options. You can either use the search bar to search for articles that might help you, or you can contact customer service in a live chat. But this live chat has not gained a huge reputation and sometimes it leaves customers with unsatisfactory answers.

The mobile trading experience on Crypto.com's mobile app is one of the best tools they have at Crypto.com. There you can do almost anything you can do on the website. It is good for both novice traders, as well as experienced ones. Whenever you use their chart tool you are not bombarded with all kinds of information, you are only shown must-know info. But for those who want to dive deeper, there is a link included with each cryptocurrency where you can learn more about how it works and other relevant information.

This app is available for both Android and IOS users.

It is really easy to start trading on Crypto.com. The first thing we need to do is to make sure that our country of residency is supported by the exchange. It can be done really easily as Crypto.com will tell you while registering if you can or can not use their services.

Step 1: Creating An Account

Creating an account on Crypto.com is the first step we need to take if we want to start trading on their exchange. This process is really easy and does not require much effort.

When opening a new account you will need to provide basic information such as your name, date of birth, country of residence, email address, and set password.

When we enter all of the needed information we will be asked to follow a link sent to our email and then verify our phone number with an OTP. Once we do that we are ready to go to the next step.

Step 2: Verification 

This process is also easy to do, as when you verify your phone number you will be asked to input some personal information. Once you do so, click continue and you will be taken to the verification space.

To verify your identity you will need the following

• Any government-issued ID i.e. Passport, driving license, or any other document that proves your identity
• Working email address and phone number

When we start the verification process we will be asked to select the country that issued our document and what type of document we are providing.

After this, we will be asked to take a photo of the document and upload it. Once we do that all that will be left to do is to take a selfie to prove that we are indeed the person to whom this document belongs. Then we just sit back and relax while we wait for Crypto.com to verify our account.

Step 3: Deposit Funds and Start Trading

When it comes to depositing funds on Crypto.com we have two options we can use.

One is a fiat deposit and the other is a crypto deposit.

If we want to deposit fiat currency, we need to check if fiat currencies are available for direct deposit. This can vary depending on the country you reside in. Once we choose the currency we want to deposit we need to link our bank account or debit card information to that fiat wallet and initiate the deposit from our end. We will have two options an ACH deposit or a wire deposit, choose whichever you prefer. Once the transaction goes through, funds should appear in your wallet. We can also directly withdraw funds from the bank account we added which removes additional steps for withdrawal. 

If we have crypto on another exchange or personal wallet and we want to deposit those funds on our Crypto.com wallet it is also easy to do so. We will be given the “Transfer” option, once we press it we will need to select which crypto we want to deposit. After this we will be given a wallet address, we send our crypto to that wallet and wait for it to be verified on the blockchain. Once the transaction gets verified, our crypto should appear on our Crypto.com wallet. 

It needs to be mentioned that if we were to send a cryptocurrency other than the one we selected to the wallet we were given, it is highly likely that our crypto will be irreversibly lost.

After a thorough review of Crypto.com, we are able to recommend this platform to our readers. This platform will mostly be useful to those who reside in the US, but it can also be useful to those who live outside of America. There might be some other exchanges that are easier to use and have more functions and cryptos available. But if you are interested in Crypto.com then you will still receive a really high quality of service.