Crypto.com Exchange Review 2022: Is Crypto.com trustworthy?
Are you interested in cryptocurrencies or are you searching for an honest, thorough review of Crypto.com? In this guide, we will give you a straightforward approach. Crypto.com is a fully-fledged crypto hub build upon Defi Wallet, exchanges, and well badges list of supported cryptocurrencies. It allows the users to sell and buy Ethereum, bitcoin, and many other cryptocurrencies with the help of top fiat currencies as the payment gateways. We will explain all of these features in detail below.
Overview of Crypto.com
Previously known as Monaco, crypto.com was founded by Kris Marszalek and Bobby Bao back in June 2016. In July 2017 an event name “Monaco initial coin offering” was held where the company raised almost $26.7 million. Currently, Crypto.com is headquartered in Hong Kong with team members of almost 350 people.
Crpyto.com is an online exchange platform for cryptocurrencies and fiat currencies where you can exchange, store and trade almost 70 major cryptocurrencies. This platform claims to offer traders and consumers a wide range of features than any other crypto brand. Today it stands as the most powerful crypto platform with millions of users trusting and relying on it worldwide.
Crypto.com supported countries
Crypto.com is a completely controlled and regulated crypto platform that fulfills all the requirements on financial and operational management. This means that you cannot use its services anonymously, regardless of whether it is a payment app or an exchange.
At the time of writing countries around the world, including the United States, Australia, Europe, Russia, the United States, Latin America, and several African and Asian countries, offer Crypto.com services. However, some geo limitations can occur to certain Crypto.com services.
Crypto.com supported currencies
Crypto.com has an ever-growing list of supported coins on its platform. The rule is the more supported coins are, the more users are attracted to the platform. Currently, 89 different high-ranked coins are being supported by crypto.com. One of the big daddies by coinmarketcap i.e. BTC, COMP, ETH, DASH, ETC. make it into the list.
When you set up your crypto.com account, you come across that there is an option for fiat currencies to choose between the payment gateways. However, we found that USD, AED, GBP, EUR, AUD, and RUB are the most used fiat currencies. This is feature is rarely seen in the market nowadays. Most of the time, users have to makes payments through Cryptos to makes purchases.
Crypto.com Payment methods
The deposit and withdrawal facilities are available in both crypto and fiat currencies. Those users who are starters and don’t have pre-own crypto from cryptos.com can purchase Cryptos from cards. You can either use your credit card or can make a bank wire transfer of the subject amount via the app of crypto.com
The crypto.com exchange does support fiat currencies. You have to download the crypto.com app. You can download the app from Google Play or AppStore. On the withdrawal side, you also need an app for crypto.com. Or you can either send your crypto to any external wallet. There are minimum amount and time limits set by the app. So while making a transaction, correctly input all the details to avoid any loss.
The philosophical concept “defense in depth” applies here if we are talking about the security measures taken by crypto.com the platform has divided its security into two portions, hot storage, and cold storage. All of the 100% assets of their users are kept in cold storage. Crypto.com is also partnered with the hardware wallet ledger to make the security levels more reliable.
All of the day-to-day transactions are held in hot storage wallets. In this regard, the ledger helps the withdrawal smoothness with its security features. Most of all, 360M worth of insurance is retained on the crypto assets held on crypto.com. This insurance coverage provides an extra layer of security for its customers. According to a recent report, almost 3 million people are getting covered with their insurance policy.
Customer support plays a vital role in leading them and the organization. Based on our experience, crypto.com provides a very delightful experience to its customer when it comes to assisting them. The team is offering 24/7 live chat support to its users. There is a chat icon located on the bottom right corner of the official website of crypto.com
A fully guided FAQ page is also located on the website. The team has tried to answer as many questions ranging from general to most technical. You can search your questions using the search option or either way you can send them a direct message. The customer team responds as quickly as they get the message. Moreover, crypto.com has growing social media channels on various platforms. You can follow them to keep yourself updated about the current happenings.
It is FREE to have your MCO Visa Card authorized and delivered, except for the staking requirements. It is also FREE to charge your MCO Visa Card with money. Domestic transaction costs are not available. If you purchase something from your MCO Visa Card in another currency, you will also get the interbank exchange rate. There’s a monthly limit, but if you go over, this is just 0.5% fee (which is competitive). No monthly administration fee is available, but, if you don’t use a card at least once for 12 months, you will be charged £5.00. Below is the chart to help you with. for the deposit or withdrawal fee you can read crypto.com official article.
Crypto.com Pros and Cons
- It takes less than 5 min to get your account approved. Quick verification is what you can get here on this platform.
- It’s free to open an account on crypto.com. The platform is free but there are certain non-negotiable charges that you have to pay while making transactions.
- Debit cards and MCO Visa Cards are issued and delivered to your address free of cost. There are no monthly maintenance fees for any of these cards.
- You can get 10% cashback on a selected brand if you purchase their gift cards with your cryptocurrency balance.
- There is no office or any customer relation site in the USA or European Union.
- If you don’t hold your crypto for 3 months then crypto earns pays very low-interest rates. You have to lockup your crypto deposit for at least months.
- Many users have reported on different platforms that the MCU Cards aren’t issued. It takes a month to issue cards after ordering.
- Many of their features are not available in different countries. Neither have they had any specific list on their website to make things easier.
Is Crypto.com Safe?
They are as much safer as any other exchanges. Many of the users have claimed that they keep 90% of their fund the crypto.com. The platform has proved itself in no time. Crypto.com is using traditional banking features to facilitate users like earn and credit. As mentioned above, cold storage is used to store all of the digital assets of customers. Meanwhile hot storage with the help of Ledger’s security features manages the daily transactional task.
Also is the fact they now have insurance. The company is being audited by a big 4. It’s very fair to say that they haven’t put up this image overnight. If they are a scam, the team of crypto.com would not be working hard to employee more amazing features and wouldn’t have released a product.
Frequently Asked Questions (FAQs)
Is crypto.com Legitimate?
They are offering debit and MCO visa cards. They are as legitimate as the other platforms with a crypto-friendly environment
Is crypto.com better than Coinbase?
Coinbase deals with the high volume traders while crypto.com is more like an everyday service.
Crypto.com is an easy-to-use crypto trading site that facilitates popular crypto-trading. Crypto.com also provides novice customers with a wide variety of popular features that you can find in one place and crypto pairings. This includes 0% trading costs, which are particularly appealing to high-frequency traders. It stands up to its rivals with interest, benefits and discounts, and the opportunity to make large payments and withdrawals. Besides the trade, Crypto.com App supports withdrawals and deposits of fiat currency.
Besides anyone can make their own choice. It’s totally up to them to makes decisions. There are few options available in the market but we here provide the best option that is available in the market. Don’t forget to tell us how your experience was. Let us know in the comment section below