Crypto.Com Review 2022: Is It Safe to Store Cryptocurrency?

Crypto.Com Review

If you are a crypto trader and looking for a wide variety of cryptocurrencies then Crypto.Com might be very appealing to you. Crypto.Com is a very renowned and popular international cryptocurrency hub that offers several cryptocurrency products and services. Today I will review Crypto.Com and help you find out whether it is safe to store cryptocurrency on Crypto.Com. let’s find out!

What is Crypto.Com?

What is Crypto.Com

Crypto.com is a cryptocurrency exchange app based in Singapore. This platform was established in 2016 and currently has 10 million users and 3,000 employees. It is basically, a global digital asset service that offers a wide range of services like buy, trade, sell, store, earn, loan and pay bills using cryptocurrencies, etc. Crypto.Com has its own exchange that allows users around the world to trade a variety of digital assets on a secure crypto platform. Moreover, Crypto.Com has its own native digital token coin; therefore, this platform can provide deep liquidity and competitive trading fees for its users.

Overview of Crypto.Com

Web addressCrypto.com
Parent CompanyCrypto.com
Main locationHong Kong
Supported fiat20+
Supported pairs100
Has tokenCRO
Transfer typesBank Transfer, Credit Card, Debit Card, Crypto Transfer
DecentralizedYes
Trading fee0.2%

Key Features of Crypto.Com

1. One-stop Shop

You can consider Crypto.Com more of a bank than a crypto exchange. or brokerage. In this platform you will be able to buy and sell cryptocurrencies as well as swap them with other users through your DeFi wallet. Moreover, you will be able to spend your crypto with a prepaid Visa card which makes your payment more convenient. Depending on the country where you live, you might be able to put your cash into an interest-earning account and get a crypto loan.

2. Low Fees

This is another great aspect of Crypto.Com. This platform allows you to deposit money into your Crypto.com account via an electronic bank transfer or wire transfer without paying any fees. Moreover, you will be able to buy and sell cryptocurrency at a very low cost. However, Crypto.Com might charge a fee for credit/debit card crypto purchases via the app. Moreover, if you make the payment with your credit card then the card issuer company might charge a cash advance fee for buying cryptocurrency. 

3. Easy to Convert Money

It is very easy to convert your money in Crypto.Com. With Crypto.Com you can easily convert fiat currencies into crypto. Crypto.Com supports more than 20 fiat currencies including USD, GBP, and EUR. Moreover, the fee is very low for converting money into cryptocurrency.

4. Cash Back Cards

Crypto.Com offers five types of prepaid Visa Cards to its users. You can use these cards anywhere that accepts Visa. But in order to use these cards you have to top them up before you can spend money. Like any other Visa cards, the more CRO you stake, the better the benefits. You can get 8% cashback and other extra bonuses. However, you’ll need to stake around $400,000 worth of CRO to qualify for the cashback.

5. Earn Interest

In Crypto.Com you can hold your cryptocurrency and earn high interest. You will be surprised to know that Crypto.Com’s lowest interest rates are better than the best high-yield savings accounts. In Crypto.Com you can earn the highest interest rate of 14%. But to qualify for the highest interest rate, you have to keep a lot of cash in CRO to qualify. Usually, the interest rate depends on how long you will keep your money, which currency you save, and the amount of CRO you have staked.

Various Fees of Crypto.Com

Various Fees of Crypto.Com

Deposit and Withdrawal Fees

Transaction TypeFees
ACH transferFree (minimum $20)
Wire transferFree (minimum $5,000)
Debit/credit card crypto purchasesUp to 4% (waived for the first 30 days on the Crypto.com app)
Purchase crypto with money you’ve depositedFree
Send crypto to other Crypto.com App usersFree
Exchange crypto to cryptoFree
Crypto deposit feesFree
Crypto withdrawal feesDepends on currency

Maker / Taker Fees

30-Day Trading VolumeMakerTaker
$0 – $250,0000.40%0.40%
$25,001 – $50,0000.35%0.35%
$50,001 – $100,0000.15%0.25%
$100,001 – $250,0000.1%0.16%
$250,001 – $1,000,0000.09%0.15%
$1,000,001 – $20,000,0000.08%0.14%
$20,000,001 – $100,000,0000.07%0.13%
$100,000,001 – $200,000,0000.06%0.12%
$200,000,001 and above0.04%0.10%

Stake Discount

StakeDiscount
≥ 5,000 CRO10%
≥ 10,000 CRO20%
≥ 50,000 CRO40%
≥ 100,000 CRO60%
≥ 500,000 CRO70%
≥ 1,000,000 CRO80%
≥ 5,000,000 CRO90%
≥ 50,000,000 CRO100%

Cryptocurrency Supported by Crypto.Com

Crypto.com supports more than 150 cryptocurrencies worldwide. Below is a selection of cryptocurrencies that you can buy and sell on Crypto.Com – 

  • Bitcoin (BTC)
  • Litecoin (LTC)
  • Ethereum (ETH)
  • Cronos (CRO)
  • Enjin Coin (ENJ)
  • Basic Attention Token (BAT)
  • Paxos Standard (PAX)
  • USD Coin (USDC)
  • OMG Network (OMG)
  • Kyber Network (KNC)
  • 0x (ZRX)
  • Chainlink (LINK)
  • Origin Protocol (OGN)
  • Algorand (ALGO)
  • Elrond (gTLD)
  • Band Protocol (BAND)
  • XSGD (XSGD)
  • Filecoin (FIL)
  • Polkadot (DOT)
  • Bali Coin (BAL)
  • Dogecoin (DOGE)
  • UMA (UMA)
  • TrueAUD (TAUD)
  • TrueCAD (TCAD)
  • TrueGBP (TGBP)
  • PAX Gold (PAXG)
  • TrueUSD (TUSD)   

Is Crypto.Com Safe to Use in 2022?

Crypto.Com is a completely safe crypto exchange to use in 2022. This platform uses various latest security measures, including multi-factor authentication (MFA) and whitelisting and keeping customer accounts safe. Moreover, the security of Crypto.Com also includes password, biometric, email, phone, and authenticator verification. You will be delighted to hear that Crypto.Com is insured for $360 million against damage or theft. Moreover, this platform also partners with Ledger to store user cryptocurrencies in cold storage to help prevent hacks and losses. Crypto.Com also works with local banks in the U.S. to provide $250,000 in FDIC insurance on U.S. dollar balances.

Pros and Cons of Crypto.Com

Pros of Crypto.ComCons of Crypto.Com
A huge selection of crypto assetsFees for credit and debit purchases are relatively high
Transaction fees are lowSome services are not available in the USA
Cashback card, staking, earning interest, and NFTsNo crypto-to-crypto trading
8% cashback on spending
Crypto.com app for both Android and iPhone users
Secure crypto loan with up to 50% LTV
Trade top cryptocurrencies with deep liquidity

Customer Reviews of Crypto.Com

Positive Reviews of Crypto.Com

Theo said – 

“Any time I need help or answers, client support is responding pretty quickly. Besides I am using the app for more than a year now and I have never experienced any issues with my assets.”

Joseph Hunter Brooks said – 

“I was having difficulties with a delayed withdrawal and being a total A-hole to the support team about it yet they were still kind and responsive. It turned out to be an issue with the polygon network and not inefficiencies with crypto.com. I would choose to work with crypto.com any day when compared to Coinbase.”

AbioduntheLion said – 

“I have decided to upgrade my card by staking CRO. I was told it would take at least two days to transfer the funds from my old card to my new card. After finding the number to Visa card support and a few chats, I was able to get my money on my new card. Now I’m back to loving crypto.com!”

Justine said – 

“I previously posted an issue resetting my 2FA and issues with CRO support accepting my verification. This has now been resolved and I am very happy”

Jim Lyons said – 

“Great service, great wallet great on/and off-ramps. The only thing is the app could use a better User interface, it’s a little confusing and not intuitive at all, but the product and card are great.”

Negative Reviews of Crypto.Com

Kwan Nita said – 

“Can’t contact any support. Can’t send them an email. Can’t log in to my account. The email they provided us is invalid. Guess I just lost my account and all the money.”

Jordan Dill said – 

“Terrible experience sold over $250 in crypto and won’t actually let me take the money out. The dog water company uses Coinbase”

Karl Hoffman said – 

“I have been trying to transfer my money to my checking account for 3 weeks. Been with their support. Plaid support. And my bank. Plaid and crypto say they can’t link my account because it comes back as savings! It is 100 pct a checking account. I feel they are literally trying to keep my money. I have no patience left. Do not use crypto.com.”

Steph Joschua said – 

“Performed a wrongful transaction still holding my funds without any explanation for more than a month. Already filing a lawsuit against you, you were warned before but didn’t bother to even reply. Well, now you will face consequences”

DJMJ Investments said – 

“Terrible support, deposited CRO to get the VISA card, over 2 months later, they can’t deliver, just a list of excuses. Don’t bother, go with someone else.”

Final Verdict

Finally, Crypto.Com will be the best crypto exchange option for you if you are looking for a low-fee cryptocurrency exchange to trade and move fiat currency into cryptocurrency. This is a secure platform and you can put your trust in this crypto exchange. 

Last Updated on April 3, 2022 by Mark Twain

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