Crypto.com Exchange Review: A Fast & Secure Crypto Trading Platform for Everyone


Crypto.com exchange

Crypto.com Exchange Review: A Fast & Secure Crypto Trading Platform for Everyone

Crypto.com is a cryptocurrency exchange that falls in the basket of successful exchanges. They have one of the most powerful domain names in the exchange space.

When it comes to products and features as well, crypto.com makes no compromise. There are tons of cryptocurrency exchanges out there in the industry, but Crypto.com offers some great benefits to its clients, which other platforms do not have to offer.

Crypto.com emerged from the MCO project (a cryptocurrency) launched via an Initial Coin Offering (ICO) in 2017.

With the idea to produce a cryptocurrency debit card and crypto mass adoption, the community has entered into the cryptocurrency exchange business.

In the fourth quarter of 2018, the firm launched Crypto.com Coin (CRO), which is the native digital asset of the Crypto.com Chain blockchain.

The following year, in 2019, Crypto.com unveiled its own cryptocurrency exchange powered by CRO. The client can pay their trading fees with the CRO token and gain a full discount on the fees.

Users also receive 20% interest per annum on a daily basis if they choose to stake CRO tokens for a period of 180 days.

Crypto.com claims to be an exchange with deep liquidity, low fees, and best execution on the platform front.

Crypto.com Features Overview

As mentioned, the Crypto.com exchange provides great benefits to the users who transact with the CRO coin.

The Crypto.com platform has a useful set of features that come handy to most of the users. This exchange is one of the best choices for those in need of a simple and seamless cryptocurrency platform.

Having that said, when compared to well-established firms like Binance and Kraken, the Crypto.com platform still lacks in the selection of listed cryptocurrency pairs.

Presently, the exchange has 29 tradable cryptocurrency pairs. On the limitations of things, Crypto.com does not facilitate leveraged trading.

It does not offer to trade of cryptos against fiat currencies; however, it allows trading coins with Tether (USDT), which is relatively a stable asset.

Worth the mention, the Crypto.com is still its beta; thus, it is expected to get remarkably better in the features space.

That said, the infrastructure upgrades that took place recently include:

  1. Revamped Matching Engine and Order Management System: This upgrade will increase the performance and throughput by 10x.
  2. Unified REST and Websocket API: To enable ease of adoption for both platforms.
  3. Websockets: This would allow users to maintain a tenacious connection to place orders and trades with high-frequency trading.
  4. Redesigned architecture, security, improving scalability and latency: Allow clients to trade with powerful, robust risk engine, and high leverage.
  5. Addition of high-availability and resilience: This upgrade increases stability and eliminates single points of failure on every component.
Crypto.com Exchange
Crypto.com Exchange

The Syndicate – Discounted Prices through Staking

The Syndicate is a unique offering on the Crypto.com exchange. It is a fundraising platform for some promising cryptocurrencies that get listed on the Crypto.com Exchange. Crypto.com Coin (CRO) holders, who have staked CRO will be eligible to receive priority token allocation during the listing at a discount.

Eligibility

To become eligible and participate in the Crypto.com Exchange Syndicate event, the user must:

  1. Successfully complete the registration procedure on the Crypto.com Exchange.
  2. Stake 10,000 CRO or more in their Crypto.com Exchange account.
  3. Use CRO coins to subscribe to the token listing event at a discount during the subscription period.
  4. Be a citizen from the inclusive market stated in the campaign.

Final Allocation

After the expiry of the subscription period, the final allocation and CRO refunds (if any) are calculated using the following formulae:

CRO formula

CRO refund = CRP Pledged by User  –  (User final Allocation X Project Token: CRO Token)Where,

Total Project Coin Subscribed is the ratio of the Total Amount of CRO Pledged by every Participant and the Price

The Project token: CRO Rate is the fixed subscription price with 50% discount applied

Soft Staking – A rewarding System

Soft staking is a feature through which users are rewarded for simply holding digital assets in their portfolio.

Be it BTC, LTC, ETH, or MCO; the holders are paid for it. Soft staking is different from typically staking, as it does not require any long-term commitment.

However, users can get hold of extra rewards if they actively stake CRO coins.

CRO Token Stacking
CRO Token Staking

Crypto.com Ecosystem

Crypto.com expanded greatly in recent months. It has a wide range of products in its ecosystem. Some of the impressive ones include:

  – Crypto.com App

The Crypto.com App is simple to use with great user interface and power-packed features. The App users have the ability to deposit over 20 different fiat currencies, where they also get to buy and sell over 50 different cryptocurrencies.

  – Crypto Earn

Crypto.com gives users the feature to earn cryptocurrency on an interest basis. A user who deposits and stakes their tokens will receive up to 8 percent interest per annum. Note that Stablecoin deposits receive higher interest rates than common ones like Bitcoin and Ethereum.

  – Crypto Pay

As the name suggests, Crypto Pay is a feature that allows users to receive rebates in CRO token for every purchase they make.

  – MCO VISA Card

MCO VISA Card is perhaps the most helpful product Crypto.com has to offer. It is a debit card that allows users to convert their cryptos to fiat and spend them in over 40+ million locations where VISA is currently being accepted.

Funding in Crypto.com Exchange

Depositing funds into the Crypto.com account is simple, straightforward, and fast. There are a number of ways to fund the exchange account.

Before getting into the different methods, here is a quick procedure to fund an account on the exchange.

Transfer funds from Crypto.com App to the Exchange: Log In to the Crypto.com App. On the home screen, follow the order:  Transfer → Withdraw → Crypto → Crypto.com Exchange. Select the cryptocurrency to be transferred, and the deposit will be made instantly without any fees.

Deposit from other Wallets: Log In to the Crypto.com Exchange web portal, then select the “Balance” button (upper right-hand corner).

Pick the cryptocurrency to deposit and select “Deposit.” Complete the transaction using a wallet address or QR code.

Crypto.com exchange deposite
Crypto.com exchange deposit

Funding methods

 Method  Deposit Withdraw Processing Time
 Debit Card  No  No
 Credit Card  Yes  No Instant
 Wire Transfer  Yes  Yes  5-7 Business Days
 Crypto Wallet  Yes  Yes Instant

Withdrawal

Withdrawal on Crypto.com is similar to depositing funds into the exchange.

Click here to know how to withdraw funds from the Crypto.com Exchange to the Crypto.com App.

Click here to know how to withdraw funds from the Crypto.com Exchange to an external wallet address.

Fee Structure

Deposit Fees and Limits

There are no fees and limits to fund cryptocurrency to the Crypto.com Exchange.

Withdrawal Fees and Limits

Withdrawals from the Crypto.com Exchange is an on-chain transaction of transferring cryptocurrency to an external address (wallet or exchange).

Since these are blockchain transactions, there are some fees involved.

Below is the fee for the top traded cryptocurrencies:

Fees
Fees

For additional information on fees and limits, click here. 

Pros & Cons of Crypto.com Exchange

Pros

  • Rebate on Trading fee: Users can avail rebate on trading fee when they stake CRO on the exchange and pay the fee using CRO.
  • Ecosystem offerings: In addition to an exchange platform, users can make use of other features such as Crypto.com App, Crypto Earn, Crypto Pay, and MCO VISA Card.
  • Discounts via the Syndicate: The Syndicate is a feature where users get a discount of up to 50% when a new crypto asset is listed on the exchange.
  • Robust security: Crypto.com keeps the users’ funds without breaking any security protocol. After the company was audited, it received PCI:DSS 3.2.1 (Level 1) and ISO 27001:2013 compliance certifications, providing an added layer of security.
  • Live chat support: Their In-App live support is helpful, as it gives users the ability to get in touch with the support team within 5 minutes.

Cons

  • Higher withdrawal fee: The withdrawal fee is comparatively high for all cryptocurrencies.
  • Trade spread: Users have reported on the spread being too high on the trade. Thus, it is recommended that traders check spreads on other exchanges before executing their trade to ensure that they are getting an appropriate rate.
  • Relatively new exchange with limited pair selection: Crypto.com is a relatively new exchange when compared to exchanges like Coinbase and Binance, and thus has no proven track record yet. Moreover, the number of crypto pairs available for trading is limited. Having that said, it is expected to grow better in the coming years.

Crypto.com Analytics

  • Engagements
 Total Visits  1.79 Million (+39.20%)
 Average Visit Duration   05:07:03
 Pages per Visit 5
  • Trading Details
 Total Volume  $10,404,073
1137.37 BTC
 Volume ERV  $10,404,073
 Available Currencies  13
 Regulated  No
 Type  Centralized Exchange
  • Master Statistics
 Rank Currency Pair Volume (24h) Volume (%)
1.  Bitcoin  BTC/USDT  $3,710,694  35.64%
2.  Crypto.com  CRO/BTC  $2,221,256  21.33%
3.  Crypto.com  CRO/USDT  $1,630,995  15.66%
4.  Ethereum  ETH/USDT  $338,306  3.25%
5.  Ripple  XRP/USDT  $316,182  3.04%

Is Crypto.com Exchange Safe?

Crypto.com Exchange is known to have received some of the highest declarations of security in the crypto space. Few certifications include  Cryptocurrency Certification ConsortiumISO/IEC 27001:2013, and PCI:DSS.

Their declaration, in combination with the certification, is based on providing its users with the highest degree of security. The Crypto.com exchange claims to their clients that the funds are stored in cold storage.

It even claims to offer a cold wallet insurance fund when a loss of funds is incurred. Moreover, if US citizens hold USD with Crypto.com, they are insured with up to $250,000 by the FDIC.

On the mobile application front, it offers complete two-factor authentication through biometrics.

Conclusion

Crypto.com has almost everything in place to be an ideal crypto exchange for both novice and experienced crypto traders. We found the entire ecosystem fascinating as it can add a great value to the Crypto.com exchange users. Therefore, we would definitely recommend this exchange for you. Below, you can find some of the attractive promotions, rates reductions, and offers of Crypto.com.

  • No trading fee for new users* for the initial 90 days.
  • 2% bonus deposit interest rate to the new users* who deposit crypto within the first 30 days of successful sign-up. Note that the bonus will be paid out in the form of CRO tokens.
  • Up to 50% trading fee discount on all trades for existing users.

*Users must complete Advanced Level KYC to enjoy the trading fee waiver.

FAQs

1. Which U.S. states is the Crypto.com Exchange available?

The Crypto.com exchange is available in all 50 states of the United States of America. However, the MCO VISA card is not available in the U.S. Territories.

2. What are the cryptocurrency markets and pairs available on the Crypto.com Exchange?

Markets Trading Pairs
 
BTC ETH, XRP, LTC, MCO, CRO, EOS, XLM, ATOM, LINK, XTZ, BCH, ICX, VET, ADA
CRO ETH, XRP, LTC, MCO, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, ICX, VET, ADA
USDT BTC, ETH, XRP, LTC, MCO, CRO, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET, ICX, ADA

3. Which cryptocurrencies are supported in the Crypto.com wallet?

There are a number of cryptocurrencies that are supported on the Crypto.com wallet.

The list of currencies includes BAT, BTC, CELR, CRO, DAI, ELF, ENJ, ETH, FET, GNT, HOT, KNC, LINK, LTC, MANA, MATIC, MCO, MKR, OMG, PAX, USDT, USDC, WTC, XLM, SRP, and ZRX.

4. How is Crypto.com different from other exchanges?

Despite being a young cryptocurrency exchange, Crypto.com has proved to become a strong competition to other exchanges.

Differentiating Crypto.com with others, this exchange offers valuable features such as staking rewards, VISA cards, and crypto lending in addition to a vast list of trading tools.

5. Has Crypto.com ever been hacked?

Crypto.com has been in the industry for little more than a year, and to date, it hasn’t been hacked in any way or form.

Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Stan Peterson
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
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Stan Peterson 118 Articles
Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
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