Even Hollywood megastar Matt Damon wants you to join Crypto.com.
In case you missed it, the Crypto.com ad featuring our favorite Martian/assassin/Harvard genius got tons of attention – and not all of it was good. (“Jerk-worthy” is a popular review slogan.)
But stupid marketing tactics aside, how well does Crypto.com live up to its promise of being “the best place to buy, sell and pay with cryptocurrencies”? And should you register an account with Crypto.com?
Let’s dig.
About Crypto.com
Crypto.com is a cryptocurrency exchange platform that allows you to buy, sell and trade over 250 different cryptocurrencies.
Crypto.com, founded in 2016, already has 10 million users in 90 countries. The huge variety of cryptos is one of the factors that makes the platform stand out, as well as the low trading fees compared to the competition.
Opportunities
Crypto.com boasts several solid features that help this investment platform stand out from the competition.
Mobile app
Crypto.com is primarily a mobile application available for iOS and Android devices.
With the Crypto.com app, you can quickly view your portfolio and all assets available to you. From there, you can trade, make payments, and even sign up for a Crypto.com credit card.
Read more: Best crypto credit cards
Keep in mind that Crypto.com is very mobile-centric, so if you’re more of a desktop trading fan, this might not be the best platform for you.
Digital wallet options
Crypto.com offers an offline crypto wallet to keep your assets safe, secure and available when you need them.
In the event of an unlikely loss, the company has insurance for millions of assets.
The Crypto.com app can connect to the DeFi wallet app, one of the most popular digital wallet options that allows you to earn rewards and tokens, so you can keep all your crypto assets safe in one place.
NFT Marketplace
Another aspect of Crypto.com that helps this platform stand out from the rest is that they host their own NFT marketplace.
NFTs are digital files such as fine art, video, or audio that can be bought, traded, and sold. NFTs have skyrocketed in popularity lately, and the prices are sky-high ($600,000, Nyan Cat, anyone?). If you are tempted to buy an NFT, you can try out the Crypto.com NFT Market.
Read more: The Complete Guide to Buying Your First NFT
Benefits of Crypto.com
There are several advantages to choosing Crypto.com over other crypto investment platforms.
Wide range of crypto assets
One of the biggest advantages of Crypto.com is the large selection of crypto offerings available. They currently have over 250 different cryptocurrencies on the exchange, which is significantly more than other comparable platforms. A subset of these currencies are also supported for betting.
Some of the popular cryptocurrencies available on the app include:
- Bitcoin (BTC).
- Ethereum (ETH).
- Cardano (ADA).
- Dogecoin (DOGE).
- Tether (USDT).
You can see the full list and current value of all Crypto.com assets on its website.
Crypto.com also offers its own currency, CRO coin or CRO token. If you own a significant share of CRO tokens, Crypto.com may reward you with perks such as reduced trading fees.
While the platform is easy to digest for new and novice crypto investors, it is worth noting that the large selection of cryptocurrencies available can be challenging for those who have not invested in crypto before.
Relatively low fees
One of the main advantages of Crypto.com is its low trading fees, lower than many of its competitors, allowing you to maximize your income.
The trading fee is 0.4% for new users with a total monthly trading volume of less than $25,000. As with most investment platforms, high volume trades offer lower fees that can go as low as 0.04%. As mentioned, if you hold a significant amount of coins, you get an additional discount on trading fees.
Crypto.com also does not charge any additional transaction fees that are common among trading platforms, making the Crypto.com platform an even more attractive option. However, it does have transaction fees such as a 2.99% fee for debit and credit transactions, which is higher, but you can avoid this if you transfer money to your account via ACH (Automated Clearing House).
For a platform that offers such a large selection of cryptocurrencies, these fees are quite reasonable and can save you money on your investment in the long run.
Ease of use
With the Crypto.com mobile app, it’s easy to use on the go. From it you can:
- Manage connected bank accounts.
- Make crypto transactions.
- Review transfers.
- Track and manage your Crypto.com credit card balance.
Pros and cons of Crypto.com
Like most cryptocurrency investment platforms, Crypto.com has its pros and cons and it is important to understand the pros and cons to decide if this app is right for you.
pros
- More than 250 popular cryptocurrencies are available to provide you with a wide range of options for buying, selling and exchanging cryptocurrencies.
- A mobile app that gives you a quick overview of your account and available assets, makes it easy to manage and track your cryptocurrency, and allows you to complete transactions in no time.
- Low trading fees and no fees per trade to maximize your investment.
Minuses
- No cryptocurrency trading for US users. This is one of the main disadvantages of Crypto.com as it does not allow users to exchange crypto assets for each other. Fiat currency must always participate in a transaction to some extent. However, more advanced users may find some coin trading options if you connect Crypto.com to your DeFi wallet.
- Not the best customer service. One of the most commonly cited shortcomings of Crypto.com is poor customer service. Currently, Crypto.com only offers live chat customer support and there have been several customer complaints about slowness and poor quality.
How to get started with Crypto.com
To get started with Crypto.com, the first step is to download the app. From there, follow the instructions to create an account, which you will need to verify using your name, your photo ID photo, and your photo.
Once you’ve created an account, all that’s left to do is link your bank account to your new Crypto.com account. The whole process is quick and easy, and you can be up and running in less than 10 minutes.
A Crypto.com Visa card is also available. You can top up this card with cryptocurrency and earn up to 8% with this visa.
Summary
Crypto.com is a cryptocurrency exchange and investment platform worth considering. For crypto traders looking for an extensive list of currencies to expand their portfolio without outrageous trading fees, Crypto.com is a good option.
The mobile app is also a big plus and offers additional flexibility for trading, allowing you to easily view and manage all your assets from one place.
While crypto.com has a variety of currencies to choose from and is a somewhat difficult platform for the inexperienced, it is designed for beginners and experienced crypto investors alike.
All in all, this is a good option if you want to buy, sell or exchange cryptocurrencies. And with Jason Bourne’s endorsement, it might be worth your time if you’re in the cryptocurrency market.
Featured Image: Ira Lychee/Shutterstock.com
