Crypto.com Review: Comprehensive Guide to Features, Fees, and User Experience

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Over 80 million users in over 90 countries, Crypto.com has set itself up as one of the largest and most well known cryptocurrency platforms in the world. Originally founded in 2016 and headquartered in Singapore, the platform offers buying, selling and staking of over 250 cryptocurrencies, a Visa rewards card and native token the Cronos (CRO). There is also an exchange for more advanced traders and an interest program through Crypto earn.

Crypto.com is a popular and wide ranging selection with great offerings but also comes with its dislikes, especially when it comes down to fees. The platform charges no trading fees, but makes money on the spread, which can be much more than other exchanges cost. That’s especially true for retail investors using the app, with some of the spreads for assets like Bitcoin coming in at over 3%. Which means you aren’t paying in direct trading fees, but the difference in between buying and selling can be huge.

Crypto.com’s Key Features

Crypto.com has a remarkable scope of services, one of the main attractions. Aside from the crypto trading basics, users can apply for one of five Visa reward cards – offering cashback and other extras including free Spotify and Netflix subscriptions depending on CRO held. Crypto.com also offers a full interest program, called Crypto Earn, for a variety of crypto assets that users can earn between 12.5% APY on select cryptocurrencies.

The Crypto.com Exchange offers more advanced trading tools to those looking for such, with a more professional interface and access to a live order book and advanced charting tools, etc. The app starts with a separate platform that connects in with the main app and uses the same login credentials.

Trading Fees and Spread

Often, users complain about how the fee structure for Crypto.com isn’t the best it could be. Although the app claims zero trading fees, this in itself is misleading. Crypto.com doesn’t take direct fees, instead it makes a profit off the spread, the difference between what you buy something for and what it’s worth when you sell it. For instance, Bitcoin had a spread as high as 3.11% during tests. In comparison to exchanges such as Bybit, which charges only 0.10%, this is a lot.

If you’re a beginner looking for low fee trading, Crypto.com might not be the best. Advanced users who are familiar with the spreads will say that the Crypto.com features some decent range of features and flexibility, potentially costing a bit more.

Security Features

Security is a top priority for Crypto.com and we have many protections in place for our users. The platform is insured up to $150 million, and the company claims it holds customer assets in 1:1 reserves. Also, they make use of two factor authentication (2FA), as well as other security features to protect user funds. While it’s impossible for any platform to be 100 per cent risk free, Crypto.com has its reputation for providing security.

Crypto.com Earn Program

Crypto Earn is an interest earning tool which allows users to do earn interest on their cryptocurrency holdings. Crypto Earn supports over 50 coins and therefore it’s a flexible way to put your idle assets to work. There are a number of terms users can select from including flexible, one month, or three month. Interest rates sit around 0.5% to 12.5% APY, and you can earn greater rates on coins like CRO. The most popular option here for long term holders who would like to safely generate passive income from their coins stored in the wallet is Crypto Earn.

The Crypto.com Visa Card

The five tiers of the Visa card of Crypto.com are one of its standout features. These cards not only let users earn CRO cashback on their purchases, but also activate a range of additional benefits, ranging from free Netflix, Spotify, to free travel airport lounges. Users can earn up to 5% cashback based on the tier of the card they buy. The tier you are on determines the extent of rewards and benefits you get. Staking a minimum amount of CRO tokens is necessary to progress through higher tiers, something that can prevent new users from starting but which provides an obvious incentive for those able and willing to commit.

Crypto.com Exchange

If you are experienced trader, then Crypto.com Exchange is for you. That gives you access to loads of cryptos, including many that you won’t find on the main app. Some of the advanced features on the exchange are margin trading, futures and more sophisticated order types. Trading on the exchange hikes your fees (between 0.075% – 0.39%) but the platform doesn’t come with any perks. For example, few features are allowed in some geographies like, Canada in case of futures trading.

Conclusion

Crypto.com is definitely the most feature rich crypto platform available right now, offering many services to suit beginner and experienced users alike. Crypto.com has an ecosystem that appeals to crypto enthusiasts and investors from staking and trading to the Crypto Earn program and Visa rewards cards. The platform has high fees, especially the spreads and is not so appealing for those seeking to keep costs down.

If you’re someone who is okay with Crypto.com’s wide selection of services and rewards but be willing to pay for them, this platform may suit you if you can afford it. If your main motive is to have fees as low as possible, then you can have a look into other exchanges having more competitive pricing structure.

Disclaimer: The content provided reflects the authors personal opinions and is influenced by current market conditions. Conduct thorough research before making any cryptocurrency investments. The author and the publication are not liable for any financial losses you may incur.