What features does Crypto.com have to offer?
Crypto.com is one of the largest cryptocurrency exchanges globally and it supports a variety of crypto trading and investing features. The key features offered on the Crypto.com platform are:
- Spot Trading: Crypto.com allows its users to buy and sell over 250 cryptocurrencies on its Spot markets, plus over 400 pairs.
- Margin Trading: Margin Trading with leverage up to 10x on over 20+ tokens.
- Derivatives/Futures Trading: Derivatives trading with three different trading types including Futures, Perpetual and Warrants on over 150 pairs.
- Crypto Staking: Stake from over 30 cryptocurrencies and stable coins with APYs up to 14.5%.
- NFT Marketplace: A marketplace where users can invest in thousands of different NFT collections including Loaded Lions, Cyber Cubs, Bored Ape Yacht Club & Doodles.
- Crypto VISA Card: A visa card that can be topped up with currencies or crypto and used for real-life purchases. Crypto.com users can get up to 5% cash back on all spending.
- Cronos Chain: A decentralised blockchain network native to the Crypto.com exchange.
- Mobile App: The platform also offers a mobile app, which lets users manage their crypto holdings, make payments, and track prices. Available on both iOS and Android devices.
- Credit/Loans: Borrow up to 50% of your cryptocurrency collateral to get the following tokens; PAX, TUSD, USDC and USDT.
- CRO Token: The native utility token of the Cronos network, that has many uses including increasing earn rewards plus lowering trading fees.
- 24/7 Customer Support: Support is available 24/7 via live chat, email and its online form.
- Multiple Online Communities: Crypto.com has many online communities such as Twitter, Facebook, Telegram, Discord & Reddit.
Crypto.com Available Markets & Supported Tokens
On Crypto.com, users have access to multiple trading types including Instant Buy, Spot, Margin, Futures, Perpetual, Warrants and OTC (Over-The-Counter) orders. For Instant Buy, there are over 250 cryptocurrencies you can buy and sell. For Spot & Margin, you can trade over 400 pairs. There are over 100 perpetual contracts available with up to 50x leverage and there are 8 futures/warrants markets.
As for OTC trades, orders begin from $50,000 USDT (or equivalent) and go up to $5,000,000USDT (or equivalent) with instant custom quotes and generous fees. This feature is only available to VIP users and institutional clients. You can find the full list of available OTC-Desk pairs here.
Does Crypto.com have high fees?
Crypto.com has an easy-to-understand fees schedule and offers free crypto deposits to all its users. However, it there is a small fee for card deposits but PayID & BPAY deposits are free. Furthermore, fiat withdrawals are also free on Crypto.com. Although, all crypto withdrawals are subject to a small fee, to cover the cost of gas (network transaction fee).
For trading fees, Crypto.com offers tiered pricing, meaning the higher your trading volume, the lower your fees are. For the lowest tier, the spot fee is 0.075% and for derivatives, the maker/taker rebate is 0.017%/0.034%. Additionally, if you stake CRO you can get from 3% to 30% off trading fees. For a comprehensive overview of Crypto.com's pricing, we recommend visiting its Fees Schedule.
Can I stake cryptocurrencies on Crypto.com?
The exchange currently offers staking on 37 different tokens, including but not limited to CRO, ETH, BTC, USDT and more. The yields (returns) on every coin vary depending on the period of time you wish to stake your tokens, how much you want to stake and how many CRO tokens you are staking. Investors have the option to stake their assets for no lock-in period, 1 month or three months.
The available staking tokens are Cronos, Bitcoin, Ethereum, Tether, USD Coin, Dai, Pax Dollar, TrueAUD, TrueUSD, TrueCAD, TrueGBP, Algorand, Avalanche, Basic Attention Token, Binance Coin, Bitcoin Cash, Cardano, Celer Network, Chainlink, COSMOS, Decentraland, Elrond, Enjin Coin, Fantomm Harmony, Litecoin, NEAR Protocol, PAX Gold, Polkadot, Polygon, Solana, Stellar, Tectonic, Uniswap, VeChain, VVS Finance and Zilliqa.
If you would like to calculate what your returns would be on one of the above-mentioned tokens, you can visit the Crypto.com Staking calculator. Simply select your staking token, the amount you will stake, the amount of CRO you have staked and the time period you wish to commit your tokens.
What is the Crypto.com VISA card
The Crypto.com VISA card is completely free to order, you simply load it with fiat currencies or crypto and spend it like a regular debit card, either online or in store. With every purchase, you will receive a certain percentage cash-back paid in Crypto.com's native token, CRO. The amount of cash-back you will get back depends entirely on how much CRO you have staked on the platform.
If you haven't staked any CRO, you can still get the Visa card, but you will receive the lowest tier (Midnight Blue), where you will only receive 1% cash-back on each purchase. Most beginners will opt for the Ruby card, where you have to stake $500 AUD worth of CRO, and receive 2% cash-back on purchases. For a full breakdown on what tiers and rewards are available, visit Crypto.com VISA Card.
Crypto.com Credit (Loans)
Investors now have the option to apply for loans through Crypto.com that are given in PAX, TUSD, USDC or USDT stable coins. Collateral can be any of the following tokens CRO, BTC, ETH, LTC, XLM, EOS, ADA, ALGO, ATOM, VET, LINK, WBTC, DOT, XTZ, FIL, MATIC, AVAX, KLAY, SOL, ENJ, SAND, HNT, ONE, NEAR. Users can take out loans with up to 50% loan to value ratio (eg. $1000 for $500).
Cryptocurrency markets can be volatile so if the daily interest is charged, the LTV ratio will also change. If the LTV ratio reaches 70%, Crypto.com will issue a margin call, asking users to either make a repayment or deposit more collateral. One of the benefits of using Crypto.com Loans is that they don't require a credit check to apply for a loan. The conditions of the loans are as per below:
- Multiple loans at the same time are not allowed, and the terms of a loan can not be changed in any way. To change anything, users need to pay off their existing loan first.
- Loan repayments must be in the exact same currency as the loan was made in. For example, if you take out a BTC loan, you will have to make repayments in BTC.
- If the LTV ratio passes over 85% or the loan has not been repaid after 12 months, Crypto.com will liquidate all of the collateral. However, users will automatically get their collateral deposited back to their Crypto.com wallets once the loan has been repaid.
Should I use the Crypto.com NFT Marketplace?
The only benefit of using the Crypto.com NFT marketplace over a popular platform like OpenSea, it that you don't need to pay gas fees as the exchange is off-chain. However, there is a 15% primary listing fee when one of your minted NFTs is sold for the first time and royalties for secondary sales are fixed at 10%. If you want to use a centralised exchange to buy popular NFTs on, we suggest CoinSpot.
In saying that, Crypto.com does offer significantly more projects with the total coming to 10,000. On top of that, the exchange supports a majority of the most popular NFTs such as Bored Ape Yacht Club, Doodles, Mutant Ape Yacht Club, Moonbirds, Azuki, VeeFriends & more. To see the full list of available projects on Crypto.coms NFT Marketplace, you can visit it collections list.
How to buy Bitcoin & Crypto on Crypto.com
In the below guide, we show users how to buy cryptocurrencies like Bitcoin on Crypto.com. Follow the below steps to purchase Bitcoin on Crypto.com
- Sign up to Crypto.com and complete the verification (KYC) process.
- Deposit crypto or fiat currencies onto the platform.
- Go to the 'Spot' tab and search for the BTC pair you wish to trade.
- Input the dollar amount you want to invest and click 'Buy Bitcoin'.
Where can I contact Crypto.com customer support?
A majority of centralised cryptocurrency exchanges do not offer multiple 24/7 customer support methods however, crypto.com supports multiple. You can reach the customer support team 24/7 via its live chat feature, email (contact@crypto.com), phone (888-824-8817) and via its online form.
Furthermore, the customer service team can also be reached through one of its many online communities including Twitter, Facebook, Instagram, YouTube, Telegram, Reddit, Discord, LinkedIn, TikTok & Kakao Talk.
Is Crypto.com a safe exchange?
Yes, it is considered a highly secure exchange, and in mid 2020, Crypto.com was the very first cryptocurrency investing platform globally to be awarded the ISO/IEC 27701:2019 certification. They have also obtained their CCSS Level 3, ISO/IEC 27001:2013, and PCIDSS v3.2.1 Level 1 compliance.
Additionally, all user funds on Crypto.com are held offline in cold storage, mitigating against exchange and server hacks. The platform has also secured $750 million USD in cold storage insurance against physical damage, destruction and third-party theft. In Australia, this is covered under the Financial Claims Scheme (SCI). Crypto.com has also secured an Australian Financial Service License.
Crypto.com Mobile App: iOS & Android
In addition to it's web-based platform, Crypto.com is also available to use on mobile and tablet. The Crypto.com app is supported on both iOS & Android devices. On the Apple store the app is ranked #50 overall in the finance category and rated an impressive 4.3 stars from 98K reviews. For the Google Play Store, it is rated an incredible 4.5 stars from 350K reviews.
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Final Verdict
For Australian investors, we don't recommend using Crypto.com unless you have invested and are interested in CRO (Crypto.com's native currency). All the benefits you can receive on Crypto.com are based around spending, staking and earning CRO. CoinSpot is an Australian crypto exchange that offers significantly lower trading fees, better staking APYs and more AUD deposit methods.
