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Crypto.com Review

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Review of Crypto.com

There are hundreds if not thousands of exchanges that you can choose from to purchase cryptocurrency. With a seemingly infinite number of choices, it can be difficult to determine what exchange is best for you. Of course, everyone wants safety, but there are also a number of other factors that can lead users to choose one exchange over another. Today let’s focus on the reasons that make Crypto.com a standout exchange and why you should choose it over other offerings. 

 

Features of the platform: 

  • What is Crypto.com?
  • Is Crypto.com safe?
  • Crypto Cash Back on Ordinary Purchases 
  • Fees 
  • Pros/ Cons 

What is Crypto.com?

Crypto.com is a cryptocurrency exchange as well as a payment platform. Its major goal is to increase the use of cryptocurrencies. Crypto.com, which was founded in 2016, already has over 10 million users. Kris Marszalek, a seasoned entrepreneur, leads the firm from its Hong Kong headquarters. CFO Rafael Melo, CTO Gary Or, and Head of Corporate Development Bobby Bao are the other three Co-founders of Crypto.com.

 

Crypto.com is one of the most ambitious businesses in the blockchain industry, as seen by the breadth of its products. There’s something for everyone between the exchange and the visa cards. If you’re a first-time investor, use them to get your feet wet and acquaint yourself with the fascinating world of cryptocurrency. If you’re a seasoned investor, take advantage of their fee discounts to up your game. 

 

Use the code “bitboy” to receive $25 on crypto.com! 

Is Crypto.com Safe?

Crypto.com adheres to the strictest security guidelines. For starters, Crypto.com is the world’s first cryptocurrency firm to achieve ISO/IEC 27001:2013, ISO/IEC 27701:2019, PCI:DSS 3.2.1, Level 1 compliance, and CCSS certification. 

 

All of the funds are kept in cold storage at all times. In the case of a loss of money, the exchange employs a cold wallet insurance fund. Only corporate money is held in hot wallets, which ensures that transactions on their network of services go efficiently. Additionally, the FDIC will guarantee you up to $250,000 if you are an American citizen holding US money on crypto.com. 

 

Crypto.com closely monitors each transaction to guarantee that it is not being used to launder money for criminals. Criminal activity, such as money laundering, is prevented by this level of proactive compliance monitoring. 

 

Both the mobile app and the exchange at Crypto.com employ 2FA verification using biometrics or Google Authenticator. Furthermore, you must whitelist every address to which you transmit cash from the exchange. 

 

On a final note on Crypto.com’s security, Lloyd’s Syndicate 2012, Crypto.com was awarded a $100 million direct insurance coverage managed by Arch Underwriting. Crypto.com’s cold storage assets on custodial partner Ledger Vault now have the broadest coverage available. Crypto.com’s total cryptocurrency insurance now stands at $360 million, including direct and indirect coverage through custodians.

 

Use the code “bitboy” to receive $25 on crypto.com! 

Crypto Cash Back on Ordinary Purchases  

Five prepaid Visa cards are available at Crypto.com. They may be used everywhere Visa is accepted like restaurants and movie theaters, but you must first top them up before you can spend money. That makes them obviously different than a real credit card, but still includes many of the same features. 

 

The native crypto.com token is CRO. The more CRO you stake, the higher the advantages, just like with its other products. The top-of-the-line Obsidian card offers 8% cashback (or, more correctly, crypto back) and a slew of other perks. To qualify, you’ll need to bet 5,000,000 CRO (about $750,000 at the time of writing). That’s a lot of CRO, but also a TON of cashback. Cha-ching. 

 

If you don’t have a lot of cash on hand, the no-risk Midnight Blue card gives you 1% back on all transactions. With the Ruby Steel card, you’ll earn 2% return on a 5,000 CRO stake (about $750). There’s no annual charge, and depending on the card, you’ll get a certain number of free ATM withdrawals and overseas transactions each month. 

 

Use the code “bitboy” to receive $25 on crypto.com! 

Fees 

The fees on the platform vary greatly by level; the levels are tiered by 30-day trading volume. The lowest tier, level 1, is for traders that have between a $0 and $25,000 trading volume. The maker fee at this level is 0.4%, and the taker fee is also .4%. The highest level (level 9) is for traders with more than $200,000,001 and above. This top-level has a .04% maker fee… yes, 90% lower than the top level which is quite significant. However, very few people beyond institutions have the ability to trade with this high of a 30-day average. 

 

Discounts: There is also a way to get discounts to lower your trading fees. Stake CRO and pay your trading costs in CRO for even greater savings. You’ll get a 10% annual return on your CRO investment as a bonus! That’s a win-win. 

Pros and Cons

 

Pros

One of the most important pros that crypto.com has is low fees. Oftentimes users need to pay absorbant fees for trading crypto, but crypto.com makes it accessible for everyday people to afford to trade crypto. Another positive is that crypto.com makes it easy to convert money back and forth between currencies. 

 

Other pros include very strong security, a robust selection of cryptocurrencies to choose from, and the ability to earn interest on your crypto holdings. 

 

Cons

There are several cons on which crypto.com can improve on. These include user design and customer service. The latter can be challenging to find in crypto, but there are several exchanges with a great visual layout that make trading crypto easy. 

In Conclusion 

Crypto.com is a cryptocurrency exchange and payment platform. The company was founded in 2016 and already has over 10 million users. There’s something for everyone between the exchange and the visa cards, from first-time investors to seasoned investors. Crypto.com closely monitors each transaction to guarantee it is not being used by criminals. Crypto.com offers a variety of perks, including free ATM withdrawals and overseas transactions.

 

There is also a way to get discounts to lower your trading fees. There are several cons in which the site can improve on, including user design and customer service. However, due to its robust offering of crypto, as well as its cash back cards, there are some things that are worth overlooking for an overall great experience. 

 

Use the code “bitboy” to receive $25 on crypto.com! 

 

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