In this official Crypto.com review by Satosheez, we will go over the crypto exchange’s features, security, mobile app experience, NFT marketplace, and more. We will also go over the company’s background and reputation, helping you to make an informed decision before signing up. After all, you’re trusting them with your money….
Maybe you live by the Crypto.com stadium in LA and want to learn more about the platform, or maybe you’re just getting interested in cryptocurrency and want to start investing… We think this is the best option for crypto beginners, here’s why!
Based in Singapore, Crypto.com is one of the leading cryptocurrency exchanges in the world. It’s a centralized exchange, serving about 50 million customers. Initially founded in Hong Kong by Bobby Bao, Rafael Melo, and Kris Marszalek–the company used to be known as “Monaco” before 2018. That’s when they purchased the domain (worth $5-10 million) from a guy named Matt Blaze.
Many cryptocurrency exchanges have been hacked in the past, and Crypto.com is one of them. $15 million (USD) worth of Ethereum was stolen from the platform in January 2022. Not that long ago.
Here’s the thing, no customer funds were lost or stolen. The hack did not result in any Crypto.com customers losing money. That’s a good thing, and why we still trust the platform with our money (not all of it).
The company is dedicated to providing customers with a secure trading/investing platform, and multi-factor authentication is a helpful feature. It’s also worth noting that Crypto.com USD balances up to $250,000 are FDIC insured thanks to the company working with local banks in the United States.
Even though they’ve been hacked in the past, the company responded well, no one lost money, and extra security measures have been enacted to prevent future hacks. That’s the best thing we could ask for when dealing with a centralized exchange.
Security Rating: 10/10
Customer service is a very important thing to consider when choosing a crypto exchange. When someone has your money, you need to be able to reach them if something goes wrong. Crypto.com does a decent job at providing customers with support, as they are available to reach via email or chat.
However, like most crypto exchanges, this one has a slow response rate, and there is no phone support.
No one that works for Satosheez has ever had a problem with Crypto.com’s products or services, and therefore has no first-hand experience with their customer service. Our main complaint is the lack of phone service, and it is clear from online reviews that they respond slowly and rarely resolve customer problems in a timely fashion.
Customer Service Rating: 7/10
Since this is just a review, we’re not going to cover every detail when it comes to the fees, as Crypto.com offers a variety of products/services with different fee structures. If you choose to stake CRO (Crypto.com Coin) then you will have lower fees, but new members without staked CRO will pay a 0.4% fee on trades. Which is actually not bad compared to other exchanges out there. Not the lowest, not the highest. However, higher volume traders that do $25k-$50k monthly qualify for lower 0.35% fees. The more CRO you stake, the less you will pay in fees.
|Less than $25,000 (Level 1)||0.40%||0.40%|
|$25,000 to $50,000 (Level 2)||0.35%||0.35%|
|$50,000 to $100,000 (Level 3)||0.15%||0.25%|
|$100,000 to $250,000 (Level 4)||0.10%||0.16%|
|$250,000 to $1 million (Level 5)||0.09%||0.15%|
|$1 million to $20 million (Level 6)||0.08%||0.14%|
|$20 million to $100 million (Level 7)||0.07%||0.13%|
|$100 million to $200 million (Level 8)||0.06%||0.12%|
|$200 million and up (Level 9)||0.04%||0.10%|
There are no fees when buying from the Crypto.com NFT Marketplace.
Fees Rating: 9/10
Crypto.com App Review
The Crypto.com app is where it’s at! It’s incredibly easy to navigate, which must have been hard to accomplish with all of the features they have loaded into this app. There are Missions, where you can earn Diamonds for investing, trading, learning, and simply checking in once a day. It’s always nice to be rewarded, especially when you’re a small investor.
Viewing your account balances is a simple task, converting cryptocurrencies is simple, and of course, depositing USD from your credit card or bank account is an easy process–anyone can do it!
Crypto.com designed this app to be user-friendly, and easy enough to use that even a new investor can download the app and start investing in their favorite cryptos. It also made it possible for more people to buy NFTs, as the app features the official Crypto.com NFT marketplace, as well as the ability to buy them using Diamonds collected from completing Missions.
Crypto.com App Rating: 10/10
The NFT industry became a huge hit in the last crypto bull market and all of those celebrity endorsements. But for many average crypto enthusiasts who only access crypto via mobile apps, the process of buying and selling NFTs seemed utterly confusing.
Crypto.com made NFTs easy for anyone to buy! So not only did they make it easier to invest in NFTs, they made it more affordable as there are no transaction fees when buying nonfungible tokens.
Most NFT marketplaces are decentralized, which is arguably superior, as it’s more secure and cuts out the middle-man. However, the advantage of using a centralized platform like Crypto.com’s NFT Marketplace is that you can buy NFTs using a credit/debit card. Truly simple, anyone can do it!
Tradable Currencies on Crypto.com
Perhaps the biggest benefit to Crypto.com over other exchanges is the number of tradable currencies on the platform. Don’t forget, this exchange had SHIB before Coinbase, which gave Crypto.com users a better chance to make money when the price was pumped (CB screwed users on the SHIB listing).
There are more than 250 tradable currencies on Crypto.com, much more than other exchanges. You can purchase many altcoins, meme coins, etc. If you’re interested in investing in a large variety of cryptos, then this is the exchange you want to use, especially if you’re a US resident.
Tradable Currencies Rating: 10/10
PROS AND CONS EXPLAINED
When it comes to cryptocurrency exchanges, Crypto.com is definitely one of the best options. Let’s quickly go over and explain the pros and cons of using this platform and its official app.
- 250+ tradable currencies give you many trading and investing options
- The ability to stake coins + staking enough CRO will lower your fees
- Crypto.com card options with multiple tiers based on how much CRO you’re staking. Cards can be used anywhere VISA cards are accepted.
- The user-friendly mobile app makes it easy for anyone to start investing in the crypto and NFT marketplace.
- Access to celebrity, gaming, music, and more NFTs – a very large selection with prices ranging from $2 and up.
- Easily clean up micro amounts of coins left in your account and move them all into CRO – a very convenient feature that saves you on fees that would make it pointless to convert 0.002 of a currency.
- No transaction fees when purchasing NFTs
- Secure, well-trusted platform
- Crypto.com Missions are an outstanding feature that all exchanges should take notes on to do something similar.
- Customer support could be improved so that users can get a hold of someone from service via phone call. Not everyone is okay with using email or chat for service when it comes to their money.
- Fees aren’t bad, but it takes holding and staking a lot of CRO just to get the benefit of lower fees. The fee structure is also somewhat complicated with all of their different tiers, it’s not nearly as simple as other exchanges like Coinbase.
OVERALL RATING – 9.5/10
Crypto.com is hands down the best platform for new investors to get started with Bitcoin and other cryptocurrencies. Their app has all of the features you need to dive deep into crypto and even start buying NFTs from Snoop Dogg. It’s incredibly user-friendly and easy to use, even for non-techies.
But mainly, the ability to purchase new and upcoming cryptos before other exchanges even list them is a huge plus. This gives you a big advantage as both a trader and an investor. You can make highly profitable swing trades, or get in early and buy cryptos when they’re dirt cheap.
We recommend Crypto.com for beginners and advanced traders looking to diversify their portfolios and invest in different crypto projects and/or NFTs.
You can deposit USD into your Crypto.com trading account via ACH bank deposit, credit card, or debit card. Bitcoin and other cryptocurrencies can be transferred to your Crypto.com account from an external wallet if you don’t wish to deposit fiat currency.
Both crypto exchanges are great options in terms of security, tradable currencies, and app features. However, Crypto.com has more tradable currencies than Coinbase.
Diamonds earned from Missions can be used to buy Mystery Boxes and NFTs from the Crypto.com marketplace. Mystery Boxes rewards you with a random amount of CRO.
Members can now mint and sell their own NFTs on the Crypto.com marketplace by using a simple application process. Go to Crypto.com/NFT and click Create (in navigation) to start the process.