Crypto.com Review 2022: Earn Interest & Pay With Crypto

Published Nov 17, 2021Updated: Apr 23, 2022
Aaron Seng
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Established in 2016, Crypto.com has fast become one of the top cryptocurrency exchanges in the world. It stands out from the market with its ecosystem of products and services that make the platform a one-stop shop for the everyday needs of crypto users around the world. But is it really as easy and convenient as it seems? This review will look at the suite of products and services on offer and its advantages and limitations.

Our Rating 4.3/5
Promotion: None available at this time
Trading Fees:0.4% (maker) and 0.4% (taker)
Available Crypto:250+
Ease of use
Reputation
Deposit methods
Fees

We work with partners that may result in MoreCrypto earning a small commission. Read our affiliate disclaimer for further information.

Our Takeaways

Exchange NameCrypto.com
Core ServicesBuy crypto with fiat, staking, NFT, earn interest, debit card
Available Cryptocurrencies250+
Fiat Currencies20+ including USD, GBP, EUR, SGD, CAD, AUD, NZD, HKD
Deposit OptionsPrimarily bank transfer (country dependant)
Deposit FeesNone
Credit/Debit Card Fees1.49% to 4% (country dependant)
Trading Fees0.4% (maker) and 0.4% (taker)
Withdrawal FeesNone
Mobile AppYes (iOS and Android)

What Is Crypto.Com?

Crypto.com (MCO Malta DAX Limited) is a global digital currency exchange that offers a range of products and services through a unique and user-friendly mobile app. Unlike other popular cryptocurrency exchanges that primarily offer their products on desktop with a mobile app to supplement, Crypto.com features can be accessed and easily utilized on their iOS and Android compatible mobile app.

cryptocom summary

Since its establishment in 2016, the platform has grown from Hong Kong-based headquarters to having several offices around the world, including Singapore, the United States, Japan, India, Russia, and Australia. Crypto.com now boasts a substantial user base of more than 10 million customers spanning over 90 countries. In terms of trading volume, traffic, and liquidity, Crypto.com is currently ranked #12 in the world by CoinMarketCap.

cryptocom volume

Pros & Cons

Top Crypto.Com Features You Should Know

Buy & Sell Crypto On The Mobile App

The Crypto.com App is one of the most popular fiat-to-crypto exchanges in the world with over 10 million downloads across iOS and Android devices. The trading app provides a fast, easy and safe way to buy crypto at true cost using a debit/credit card or by linking a bank account for direct transfers. The app design has been tailored for usability making it simple for users to scan through and find a feature or product in seconds. 

cryptocom mobile app 1

The app allows users to buy and sell cryptocurrencies, manage deposits to fund the account, and track portfolios. Moreover, it acts as a portal to other products and services including the Exchange, Earn, Pay, NFTs, and DeFi Swap.

Crypto.com Exchange

Crypto.com Exchange provides an advanced cryptocurrency trading platform for experienced investors and traders. In terms of supported cryptocurrencies, the Exchange supports 150+ digital currencies that can be traded against BTC, USDT, USDC, and CRO.

cryptocom exchange trading pairs

The clean design of the trading interface will be familiar to experienced investors and traders. The live charting is powered by the premium TradingView package and offers all the advanced features including search analysis tools and indicators to analyze market price actions and trends. 

cryptocom trading interface

NFT Marketplace

Crypto.com has entered the Non-Fungible Token (NFT) market. The Crypto.com NFT Marketplace is the platform where digital artworks and collectibles can be traded using blockchain infrastructure. The Crypto.com marketplace aims to bring together artists, creators, and crypto enthusiasts to buy, mint, and sell NFTs. Users can purchase NFTs using a credit/debit card, the user's account balance, or with Crypto.com Pay via the app.

crypto.com NFT

Spend With Crypto.com Visa Card

Crypto.com offers a Visa prepaid card that can be topped up using fiat or digital currencies. The card can be used for purchases at in-store or online retailers that support Visa.

To apply for the card, users must stake CRO tokens for a period of no less than 180 days. CRO tokens can be purchased once an account is created and verified. The amount of CRO to stake depends on the card tier that is being applied for. For example, if USD $400 of CRO is staked then the user is eligible to apply for the Ruby Steel card once the staking period is complete. Rewards are paid out as CRO tokens and the percentage depends on the card tier. CRO rewards range from 1% for the Midnight Blue card to 8% for the Obsidion card.

cryptocom visa card

Shop With Crypto At Retailers

Crypto.com customers are able to utilize their held cryptocurrencies to make purchases at participating online retailers. The complete list of retails can be viewed here.

Merchants are incentivized to participate as Crypto.com merchant fees to settle transactions in cryptocurrencies are significantly less compared to traditional payment systems such as PayPal and the major credit card companies. An online business can choose to be paid in Bitcoin, Ethereum, Litecoin, or CRO which is then converted to the local fiat currency.

For online shoppers, Crypto.com App users can choose to make purchases from over 30 digital currencies including CRO, ETH, BTC, DOT, and DOGE. The app provides generous incentives in the form of cashback and rewards for spending crypto. For example, up to 10% cashback can be obtained by subscribing to Time Magazine.

Earn Interest On Your Crypto

Crypto.com provides its customers with the ability to earn up to 14.5% interest on their crypto holdings. Crypto.com Earn supports over 40 digital coins that include the major coins such as Bitcoin, Ethereum, Litecoin, and XRP.

To be eligible for Crypto.com Earn, users will need to stake CRO for a period of 6 months. Interest returns depend on the amount of CRO staked and the selected duration of the term. Users are able to choose from flexible, one-month, or 3-month terms. Crypto.com provides incentives to stake CRO at amounts greater than $40,000. Performing this will grant the user an additional 2% of CRO payouts.

Interest rewards (non-compounding) are paid out weekly in the coin that was deposited into the account. For example, if Ethereum was deposited then Ether will be rewarded weekly. Before committing, users can experiment with the calculator tool to assess what rewards will be received under different scenarios.

Crypto.com Earn

Is Crypto.com Regulated?

Crypto.com is a legitimate and secure cryptocurrency platform that is regulated by government authorities in each of its jurisdictions. This means that it complies with all financial and risk-prevention regulations. Since Crypto.com is a fiat-crypto exchange, it requires its customers to complete Anti-Money Laundering (AML) and Know Your Customer (KYC) procedures.

Crypto.com Security

Crypto.com incorporates security and privacy into its digital infrastructure and includes several other features to safeguard the assets and privacy of its customers. Based on our search, Crypto.com has not experienced any hacks that have resulted in the theft or loss of funds or digital assets. Crypto.com is a safe and secure crypto platform that can be attributed to the following security measures and controls.

Organizational Certifications

Crypto.com has achieved several independent accreditations and certifications that ensure that the highest level of security can be provided to its customers. The exchange was the first in the world to obtain ISO/IEC 27701:2019, CCSS Level 3, ISO/IEC 27001:2013, and PCIDSS v3.2.1 Level 1 compliance. Crypto.com has been independently assessed at Tier 4 which is the highest level for NIST Cybersecurity and Privacy Frameworks. The exchange also engages third-party audit and penetration testing of its blockchain systems.

Wallet Security

Crypto.com has partnered with Ledger to integrate their institutional-grade custody wallet, Ledger Vault. All user cryptocurrencies are held within the secure and offline Ledger Vault where Hardware Security Modules (HSM) and multi-signature technologies are required for access. Digital assets held in cold storage are insured by up to USD $750M against physical damage or destruction or theft by third parties.

Fiat currencies such as USD are safely stored in regulated custodian bank accounts meaning that users retain ownership and Crypto.com nor its creditors can claim them. Investors residing in the US will further benefit from the Federal Deposit Insurance Corporation (FDIC) insurance that Crypto.com has secured. The insurance policy provides cover USD balances for up to USD $250,000.

Customer Account Security

All Crypto.com user accounts are protected using Multi-Factor Authentication (MFA) which includes password, biometric, email, phone, and authenticator verification before transactions are completed. The software behind the technology is peer-reviewed and uses a combination of static and dynamic course code and analysis tools. Withdrawals made from user accounts are required to undergo mandatory email verification.

What Are The Fees?

Deposit & Withdrawal Fees

Crypto.com charges zero fees to deposit or withdraw fiat currencies or cryptocurrencies from an external wallet or other exchange. Withdrawing digital currencies from the account wallet to an external wallet will incur a standard network fee depending on the asset and network congestion.

Credit/Debit Card Fees

A fee between 1.49% and 4% applies for cryptocurrencies purchased using a credit/debit card. The amount of the fee will be shown on the app when the order is displayed and is dependent on the user's country. 

Crypto.com Exchange Trading Fees

The fee structure on Crypto.com Exchange follows a volume-based maker/taker model where fees start from 0.4%/0.4%.

  • A maker fee applies when a trade is not immediately matched in the order book. The trade is then added to the order book and adds to the liquidity. These traders help to make the market and thus are named market makers.
  • A taker fee applies when an order is immediately matched with an existing order on the order book. These trades decrease the depth of the order book and market.
cryptocom trading fees

The trading volume is based on the trading volume over the past 30 days. Crypto.com provides incentives to users to reduce their trading fees by staking CRO, or by increasing their trading volume. For example, if greater than 5,000 CRO but the trading volume is less than $25,000 over the past 30 days, then the maker/taker fees are reduced to 0.36%/0.36%.

Overall, Crypto.com maker and taker fees for users who do not hold CRO are a little high compared to other global cryptocurrency exchanges. Low-volume investors will either need to buy CRO to reduce their fees or seek out an alternative exchange.

Accepted Countries

The Crypto.com App is available in over 90 countries around the world including the US, Canada, Australia, Singapore, and the UK. Investors and traders located in the US will be pleased to know that Crypto.com is currently supported in 49 states and territories. Services are not able to be provided for those residing in New York, however, Crypto.com indicates that they are evaluating the steps required to be taken to extend their service offerings.

Getting Started

Account Creation & Verification

To create a Crypto.com account, users will need to download the app on their iOS or Android device. A valid email address and strong password are required to complete the account creation. There are no fees to create or maintain a Crypto.com account.

Like most fiat to crypto exchanges in the world, new users that create an account with Crypto.com to buy and sell crypto using fiat currency will need to verify their identity. The ID verification process is to comply with AML/CTF regulations that are mandated in several countries worldwide.
A full name, Government identity document, or Passport must be submitted using the app. The speed of the verification process usually takes less than 3 business days to be approved. For more information on the Know Your Customer (KYC) process, read this guide on the Crypto.com website.

Deposit Methods For Fiat & Limits

Crypto.com offers several methods to fund accounts with the local fiat currency. For investors and traders in the US, wire transfers from bank accounts will support deposits of amounts up to $250,000. Australian users only have BPAY and NPP options available to deposit AUD and other methods commonly available from Australian exchanges such as POLi are not supported.

CountryDeposit MethodsSpeedMin. & Max. Limits
USBank transfer (ACH)3 – 5 business daysUSD $20 – $50,000 / day
USWire transfer< 2 business daysUSD $5,000 – $250,000 / day
AustraliaBPAY3 – 5 business daysAUD $50 – $10,000 / day
AustraliaNPP1 – 4 business daysAUD $50 – $100,000 / day
CanadaE-transfer1 dayCAD $100 – $10,000 / day
BrazilTED/DOC/PIX< 2 daysBRL R$100 – R$80,000 / month
SingaporeXfersInstantSGD $50 – $50,000 / day
European CountriesBank transfer (SEPA)2 – 5 business days< € $1,000,000 EUR

Customer Support & Reviews

How To Contact Customer Support

Multiple options are available to Crypto.com customers who want to get in touch with the customer support team. A live chatbot is available for immediate assistance and users can email Crypto.com for general inquiries and queries relating to regulatory and law enforcement topics. A customer support phone line is not available.

The Help Centre is a comprehensive library of informative articles to guide users through topics such as how the fee and reward structures work, using the app to buy, sell, stake, and withdraw assets, and usage of the Crypto.com Visa Card. There is no shortage of helpful information with the Crypto.com Exchange category containing detailed answers to 167 Frequently Asked Questions (FAQ). However, the link to the Help Centre is at the bottom of the main page and is not overly apparent.

Previous Customer Feedback

Based on 208,300 customer reviews on Google Store, the Crypto.com App received an overall rating of 4/5 stars. Positive feedback is generally related to the beginner-friendly nature of the app, access to the wider ecosystem of products and services, improved customer support, and constant updates. Negative reviews followed the themes of minor bugs including lag and feature not loading.

Crypto.com Alternatives

Crypto.com is a leading crypto exchange that is suited for intermediate and advanced investors and traders. Beginner investors will enjoy the suite of products and services that the ecosystem offers. The following exchanges offer similar features and competitive fees and are suitable alternatives to Crypto.com.

  • Binance – Binance is our best-rated global cryptocurrency, primarily for its wide service offerings and low trading fees. The sheer trading volume, accompanying liquidity, and vast array of digital currencies (300+) to choose from make it a more than worthy option for investors of all levels of experience. 
  • Kraken – The US-based exchange offers a number of features including margin and futures trading, staking, and an advanced trading interface to buy, trade, and sell over 54 digital currencies. Experienced investors and day traders will find the advanced features of the trading platform to be highly appealing. 
  • eToro – eToro is a multi-asset social trading platform that offers cryptocurrency, stock, and CFD trading to people all over the world. With over 20 million users, eToro is a global leader in social trading.
  • Bybit – Bybit is a leading cryptocurrency derivatives exchange with an emphasis on leveraged margin trading. The platform has attracted over 3 million users and offers an advanced trading interface full of high-level features.
  • Swyftx (best Australian exchange overall). Available for Australian investors and traders, the platform has a wide variety of features including a well-designed user interface, deep liquidity, low spreads and trading fees (0.6%), DCA, and advanced trading tools.

Frequently Asked Questions

Is Crypto.com Available For Australians?

In November 2020, Crypto.com obtained its Australian license from the Australian Financial Service License (AFSL) and is permitted to provide cryptocurrency services to Australians. Australian users who are able to deposit AUD to fund their account wallets. Investors and traders in Australia who prefer to buy, trade, and sell crypto using a local fiat-to-crypto exchange have a range of Australian cryptocurrency platforms to choose from.

Can You Stake On Crypto.com?

Crypto.com provides its customers with the ability to earn up to 14% Annual Percentage Yield (APY) on their crypto holdings. Crypto.com Earn supports over 40 digital coins that include the major coins such as Bitcoin and Ethereum, however, meme tokens including SHIB can be staked. To be eligible for Crypto.com Earn, users will need to stake CRO for a period of 6 months.

Our Verdict

The Crypto.com App and Exchange provides over 100 million people around the world with a secure way to utilize cryptocurrencies in their daily lives. The platform has successfully executed and branded its App as a one-stop shop for crypto users. However, the Crypto.com native coin (CRO) will need to be staked in order to fully benefit from rewards and to reduce trading maker/taker fees. Experienced and advanced traders are not forgotten with the TradingView powered trading interface providing them with the necessary search analysis and indicators tools.

Overall, Crypto.com has a wide variety of features and offerings, all of which are delivered well and in high quality. It is one of the better globally available cryptocurrency exchange options.

Aaron Seng
Aaron Seng
Aaron Seng is the Founder of MoreCrypto.com. His journey in the world of cryptocurrency began in 2016 where he was an early investor in Bitcoin and Ethereum. His initial interests revolved around blockchain technologies and their application in a variety of industries and markets. Over the years, he has watched the slow and steady progression and growth of digital currencies around the world.
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All content on www.morecrypto.com is provided solely for informational purposes. This information should not be misinterpreted as an endorsement to buy, trade or sell a cryptocurrency or any specific product or service. The opinions expressed in this blog do not constitute investment advice and independent financial advice should be sought where appropriate.