Crypto.com Exchange Review
What Is Crypto.com?
Are you looking for cryptocurrency exchange with a great diversity of digital currencies and a wide choice of payment options? Crypto.com is a cryptocurrency platform you should pay attention to.
Crypto.com is an international crypto platform with 5 years of experience and a quite high real exchange rate among competitors on the market. According to multiple Crypto.com reviews, this cryptocurrency exchange is considered to be one of the best trading platforms for users looking for safe, fast, and low-cost trading service, passive traders who do not need regular trading, and mobile users who want to provide crypto trading on the run with the help of their portable appliances.
Crypto.com is a popular crypto exchange in a great number of countries, including the UK, the USA, Canada, and Singapore. Though, to decide whether the platform is appropriate for your individual preferences or not, it is reasonable to familiarize yourself with our detailed Crypto.com review UK.
Navigating the Risks: A Crypto Trading Disclaimer
Trading in cryptocurrencies involves significant risks and may not be suitable for all investors. The cryptocurrency markets are highly volatile, and prices can fluctuate rapidly. Investors should carefully consider their financial situation, risk tolerance, and investment goals before trading. It's essential to conduct thorough research and seek professional advice before making any investment decisions.
Read our advice to avoid losing money in financial markets. Protect your investments today.
It is necessary to start a Crypto.com review with an acquaintance with the exchange team
The Crypto.com exchange was established in 2016 by Kris Marszalek (CEO), Rafael Melo (CFO), Gary Or (CTO), and Bobby Bao (Head of Corporate Development). In only one year, the team of founders has raised $26.7 million from their initial coin offering. The previous name of the crypto platform is Monaco (MCO), which has been changed in July 2018.
The company does not stop its development and growth. Today, Crypto.com has a main office in Hong Kong and a crew of more than 900 professionals all over the world.
Crypto.com Review Summary
https://twitter.com/cryptocom (875K Twitter followers)
https://www.facebook.com/CryptoComOfficial/ (286K Facebook followers)
GBP, USD, EUR, CAD, CGD, RUB, ZAR, KES, BGN, AUD, NZD, HCD, NOK, TWD, DKK, SEK, CHF, PLN, RON, ILS, SAR, AED, HUF, CZK, BRL, TRY
Bank transfer, PayPal, Xfers, SEPA, Visa, MasterCard
For makers – 0.04% - 0.20%; for takers – 0.10% - 0.20%
Ease of Use
Crypto.com Advantages and Disadvantages
Beware of crypto-scams! Trading cryptocurrencies carries risk and may lead to loss. Research our selection of trusted services to protect your investments. Stay informed, stay secure.
Crypto.com UK has its own specific peculiarities, which distinguish the platform from other market competitors. So, to understand whether the staking platform can meet all your requirements, it is reasonable to explore resources with Crypto.com reviews.
Though, if you do not have enough time to read a detailed Crypto.com review, you can familiarize yourself with our short list of the main Crypto.com features:
According to the Crypto.com review UK, this crypto platform is a great option for experienced traders as well as beginners.
Crypto.com Products & Services
Crypto.com provides a great diversity of products and services:
The Crypto.com exchange is the most demanded among all Crypto.com’s services. The crypto platform successfully provides trading services for users from all over the world for 5 years. Today, the Crypto.com platform serves more than 5 million users from the UK, the USA, Canada, Singapore, and Europe.
Familiarize yourself with the following great review of the main Crypto.com service. The key features of this cryptocurrency exchange:
To start buying and selling on the Crypto.com exchange, it is necessary to register and pass the verification procedure, which is known as one of the most convenient and fast.
So, to start trading on the crypto platform, users need to provide the following actions:
The Crypto.com platform offers a unique exchange service, which allows converting your crypto funds into fiat currency right at the moment of the transaction you run with a special Visa Card.
The platform carries a Crypto.com Visa Card system to simplify the use of acquired cryptocurrencies for its customers.
It is well-known that digital currencies are still not accepted in a lot of places. However, Visa credit and debit cards are accepted almost everywhere today. So, with such an exchange service as Crypto.com Visa Card, users get the possibility to pay with their digital currencies in all locations where Visa is appropriate for payment.
Consider that there are different Crypto.com Visas. If you want to get access to the highest cashback and other bonuses, it is necessary to stake CRO (Crypto.com coin) in the exchange app. The more CRO you lock up, the better card tier you receive.
Of course, the top cashback is quite difficult to receive because it requires locking up about $400.000 of CRO.
In addition, there is a blue card, which is called the Midnight Blue version. This option was elaborated specially for those users who do not want to stake anything. So, you just order a blue card and receive 1% cashback on every spending.
The registration on the official website and the confirmation of your personal Crypto.com account automatically give every user access to a personal electronic wallet. This is a special store where you can keep all acquired cryptocurrencies and control them.
The platform assures the highest level of security for every e-wallet in its system. Moreover, access to a digital wallet is possible only with the use of a private key. It is convenient that you can connect your wallet with “DeFi Swap” to provide an easy swap between tokens. So, you can earn interest in your cryptos.
Crypto.com provides merchant solutions as an exchange service, which simplifies the use of cryptocurrencies as payment methods. Crypto.com even carries a special Merchants Platform for those who want to use an intuitive payment gateway for merchants.
Crypto.com Trading Platform
How to Trade on Crypto.com?
It is necessary to take into account that trading on the crypto platform is available only for registered users. Therefore, sign-up and verification processes are mandatory for all traders.
Every user with a personal Crypto.com account receives access to all exchange services and products and can start trading. The platform offers more than 100 crypto pairs.
To trade on Crypto.com, follow this instruction:
Moreover, on Crypto.com, you can familiarize yourself with a trading order history to get the possibility to analyze the current market situation.
Spot trading is the process of buying and selling cryptocurrency directly from the crypto exchange. Furthermore, spot trading assures immediate asset delivery. For spot trading, users can use only their own funds because margin and leverage are forbidden.
Crypto.com gives users the possibility to start crypto trading even if they do not have enough funds. The crypto platform allows using its own assets. Every registered user can claim the margin (borrowed virtual assets) and trade with it. Consider that first, it is necessary to transfer a definite sum into Margin Wallet as collateral.
As a margin, you can borrow:
Crypto.com Futures and Derivatives
The Crypto.com platform provides live derivatives launching with the BTCUSD Perpetual Contract using USDC as a margin with leverage of up to 50x.
Crypto.com derivatives are special contracts between two parties, which are based on the price or value of the main asset. Such derivatives consist of futures, options, forwards, and perpetual swaps.
What Countries Does Crypto.com Support?
Crypto.com is known as an international crypto exchange, which is available for a large number of customers from diverse regions. Thus, Crypto.com supports the following countries:
However, it is necessary to consider that some of Crypto.com's services or offered cryptocurrencies could be inaccessible in some regions from the list of supported countries due to specific local restrictions.
List of Banned Countries by Crypto.com
Crypto.com, as a platform providing a service of crypto trading, is not accessible for users from regions where such activity is forbidden.
So, the list of countries banned by Crypto.com includes Algeria, Afghanistan, Nepal, Bolivia, Nigeria, Somalia, North Korea, Lebanon, etc.
How to Get Started with Crypto.com in the UK?
Users can start crypto trading on Crypto.com only if they have their personal accounts, which they can create during the registration process.
To become a registered customer and get access to all Crypto.com services and products, you need to follow simple steps:
The Crypto.com registration does not require a lot of time and effort.
To assure the highest security level of customers’ personal data and finances, Crypto.com provides a reliable verification system. The crypto platform supports KYC (Know Your Customer), which is one of the most popular in the industry.
The platform carries three levels of verification:
To get the first level, you do not need to pass verification at all, but you get access only to the Exchange and Markets dashboard.
To get the second level, you need to give the platform your personal information, such as name, date of birth, email, phone number, and nationality. With Level Starter, you get access to crypto depositing, crypto-to-crypto trading, and withdrawal of up to $5,000 per day.
The third level gives you a withdrawal limit of up to 100 Bitcoins per day as an additional bonus. To get this level, you need to provide ID submission and selfie to the platform.
Does Crypto.com Require KYC?
Crypto.com requires KYC. To get access to all Crypto.com services and products, users need to pass KYC verification.
Considering that Crypto.com provides three verification levels, it could be stated that the platform carries two types of accounts: basic and verified. However, since the first level of verification does not even require a registration (which means that the account creation is impossible), factually, the platform has one account – verified.
Sometimes, crypto exchanges allow customers to create accounts without passing a verification procedure. However, Crypto.com does not provide such an offer; so, there are no basic accounts, which do not imply verification.
Whether users choose Level 2 Starter or Level 3 Advanced, they receive verified accounts. They give access to all Crypto.com services and products.
Deposit and Withdrawal Options
How to Buy Crypto on Crypto.com?
To buy and sell crypto on Crypto.com, it is necessary to conduct two actions: deposit and withdraw.
Thus, to make a deposit on Crypto.com, you need to:
When you have currency in your e-wallet, you can start trading. Just decide on the crypto you want to acquire a pair you want to trade
To withdraw your assets, you need to:
Cryptocurrencies Supported on Crypto.com
Crypto.com supports digital and fiat currencies. So, the platform is quite alluring for beginners who do not have cryptocurrency for depositing yet.
The crypto exchange offers a great selection of cryptocurrencies (150+), including the following options:
However, not all options are available in all supported countries due to local restrictions.
Fiat currencies supported by Crypto.com:
Crypto.com Trading Fees
Crypto.com exchange fees are divided into two categories: taker and maker fees. The Crypto.com taker fee is 0.10% - 0.20%, and maker fee is 0.04% - 0.20%. In addition, trading charges are divided into deposit and withdrawal fees.
There are some specific fees, such as a charge for credit card purchases, which is 2.99%.
Crypto.com Deposit Fees
Crypto.com does not require fees for deposits. Though, consider that the bank may charge a processing fee for the transaction.
Crypto.com Withdrawal Fees
Crypto.com does not require fees for withdrawals. The only additional payment is a standard blockchain transaction fee, which varies depending on the sum and the network load. Thus, the established fee for BTC withdrawal is 0.0005 BTC.
The platform provides a maximum limit of deposits £250,000 for one transaction. A maximum limit for withdrawal is £72,000 per day and £360,000 per month.
The lowest limit for withdrawal is £70 per transaction, and for a deposit, the minimum is not established.
Crypto.com provides 9 loyalty levels for its customers with different limits:
Regulation and Security
Is Crypto.com Safe?
Is Crypto.com safe to use? Yes, it is safe to use Crypto.com for crypto trading because the platform carries a great security system, provides KYC/AML/ATF verification systems and cookie user consent, and stores all funds in offline cold storage.
Is Crypto.com Regulated?
Is Crypto.com legit and regulated? Yes, it is a legitimate exchange whose policy meets all the necessary international financial and risk-prevention regulations.
Could Crypto.com Be a Scam?
Is Crypto.com scam or not? No, Crypto.com is not a scam because it is a legit and regulated platform with 5 years of experience and over 5 million customers all over the world.
Was Crypto.com Hacked?
Crypto.com has never been hacked.
The main version of Crypto.com exchange is a desktop platform, which is available to use on any computer.
Crypto.com carries a mobile app for iOS. It is approachable for users of all iPhones and iPads. The app has the same package of services as the browser version.
The platform also provides an app for Android users. It is convenient that you can use the same login and password for desktop and mobile versions.
Customer Support and User Reviews
The crypto platform carries a constant support service. You can contact the Crypto.com team via phone, email, or chat service. Moreover, there is a special Help Center with all necessary information for Crypto.com users.
The main Crypto.com alternatives are Coinbase, Binance (read our article Binance vs Crypto com), Bitstamp, Paxful, Coinmama, CEX.IO, etc.
Crypto.com vs. Bitstamp
Bitstamp provides licensed crypto trading, which makes it safer than Crypto.com. Though, Crypto.com provides a more complicated verification system to assure the security level. Bitstamp is also considered a platform with better customer support.
Is Crypto.com a Wallet?
No, Crypto.com is a cryptocurrency exchange, which provides an e-wallet as one of the offered services.
How Do I Deposit on Crypto.com?
To deposit on Crypto.com, follow the instruction:
How Do I Create an API?
To create an API on Crypto.com, you need to:
How Can I Buy Cryptocurrency with Crypto.com P2P?
To buy crypto with Crypto.com P2P, you need to:
How Do I Start Leveraged Trading on Crypto.com?
To start leveraged trading on Crypto.com, you need to choose the category Margin Trading on the official web page. Consider that you can get a margin only if you do not have open positions, open orders, and open trigger orders.
Take into account that you should send collateral to the exchange wallet to receive a margin.
Can I Withdraw Money from Crypto.com?
To provide Crypto.com withdrawal to bank UK or external wallet, you need to:
Can I Buy Bitcoins on Crypto.com?
Yes, you can buy Bitcoins on Crypto.com, as well as a great number of other cryptocurrencies, including EOS, LINK, DOGE, etc.
How Do You Buy Bitcoins on Crypto.com?
To buy Bitcoins on Crypto.com:
How to transfer from Crypto.com to Coinbase?
We have previously written a detailed guide on this topic
If you want to ask some additional questions, contact us. Our team is always ready to help.
Crypto.com Review Summary
We have analyzed key features of Crypto.com based on 3 important criteria for choosing crypto exchange:
Based on researches and our own tests, we have made an independent rating.