Are you thinking of joining Crypto.com?
With so many websites offering their crypto services, setting aside some time for background research is essential.
On this page, we’ll thoroughly review the well-known Crypto exchange.
In addition, we’ll provide alternative platforms in case it’s not your cup of tea.
Let’s dive in!
What Is Crypto.com
Crypto.com is a crypto exchange platform that recently gained popularity in the market.
It is considered one of the best crypto exchanges in 2023 for its wide range of services.
These include purchasing, trading, and selling cryptocurrencies and other digital assets, like NFTs.
Of course, plenty of other crypto exchanges work similarly, so what exactly makes Crypto.com stand out?
Well, the website provides an array of impressive services unique to the site.
Features and Perks of Crypto.com
Crypto.com has several attractive benefits and features available to crypto traders who join the platform.
Here are the key perks we spotted:
User-Friendly Interface
Paired with a crypto trading app and sporting an intuitive interface, the platform makes a great first impression.
Additionally, all you need is conveniently placed at the top of the page.
Additionally, you can quickly navigate to a specific topic with a few clicks. Furthermore, the dropdown menu is divided into two parts: one tailored for new investors and the other catering to advanced trading.
Moreover, the “Learn” section keeps you up to date on the most recent news and events in the crypto space.Â
Overall, we give the UI our thumbs up!
Vast Selection of Cryptocurrencies
The site doesn’t shy away from offering a plethora of cryptocurrencies. In fact, there are over 250 coins and tokens available on Crypto.com.
You will find some of the most popular coins on the market, like Bitcoin, Cardano, Polkadot, and Dogecoin.
There are also niche coins, such as Flux and SwissBorg.
Here’s a full list of the crypto exchange’s available digital assets and their prices.
Additionally, you can invest in the website’s exclusive coin CRO.
The gimmick is that CRO owners receive low trading fees, high staking rates, and more credit card rewards.
Secure In-House Wallet
The crypto exchange also stands out with a robust and secure digital wallet.
There you can store and sell your crypto with just a few clicks.
Unlike exchanges like Kraken, which does not offer this feature, many investors would prefer Crypto.com for this service.
The crypto wallet uses strong encryption and security mechanisms to protect your digital money.
VISA Perks
As a CRO owner, you can access more benefits, such as the Visa card perks.
Moreover, as an owner of CRO for longer than 180 days, you can apply for a special Visa card.
Additionally, there are several types of cards, each with different benefits and withdrawal options.
Furthermore, as a CRO Visa card owner, you also have perks associated with Netflix, Spotify, Prime, Airbnb, and Expedia.
Finally, you can access your funds at any ATM that allows Visa withdrawals and cashout on the spot.
Staking and Rewards
Another perk you receive for owning CRO is the reward feature.
You may choose from 21 currencies and enjoy the Flash Award perk.
It allows you to enjoy lower rates on a token specified by you!
This offer has various tiers, and it’s a nice way to make extra for the crypto you keep in your account!
Cons of Crypto.com
Of course, no crypto exchange platform is perfect, even well-known sites like Crypto.com.
If you are serious about creating a crypto exchange account, consider the following important drawbacks:
- Custodial crypto wallet: If you want to trade on Crypto.com, you need to hold your digital assets in their crypto wallet. Essentially, the site keeps your funds on your behalf, removing some of your control when managing your assets. If you used a non-custodial crypto wallet, you would have complete control and ownership of your private keys.
- Crypto Trading Fees: You must pay a fee worth 0.075% on all trades under $250,000. This applies if you are a regular trader without any CRO perks. While this may seem like a lot, it is less than what you would pay at other exchanges, like Coinbase (they charge 0.60%). Additional maker and taker fees apply.
- Customer Support: Another drawback of Crypto.com is poor customer support. We looked at user reviews on websites like Trustpilot and Sitejabber. Both hold an overwhelmingly low rate, below 2.00 stars on both platforms. Most reviewers report slow response times, poor problem-solving, and locked accounts, which is alarming.
- Security risks: Some online reviews shared cases of hacked and locked accounts and zero payback for their financial losses. Crypto.com clearly states that they are not responsible for such losses. Still, it’s not a good look to see so many users suffering from the same issue. If you do decide to use this platform, make sure you maximize your safety options.
How Does This Crypto Exchange Compare to Other Platforms?
With all this in mind, how does Crypto.com compare to other crypto trading platforms? We have gathered the best crypto exchanges and brokerages to compare their services against Crypto.com.
Currently, one of the biggest and most visited crypto exchanges in the world is Binance. Besides offering major coins like BTC, ETH, and LTC, it provides crypto traders with altcoins and newly launched tokens. Binance is fantastic for those that want more control over their trades. Features like spot trading, futures trading, margin trading, are available for registered users.
Furthermore, the platform has created their own signature features.These include the Binance Academy, perfect for new investors who want to learn about blockchain and crypto. Binance Charity is another example, aiming to use blockchain for a good cause. Perhaps the biggest thing Binance is known for is the ultimate security. It operates on its own blockchain called Binance Blockchain.
Key Features:
- 2FA Identification
- Cold Storage
- Crypto Market Analysis
- Charting Tools
- Low Crypto Exchange Fees
Kraken is a popular exchange that insists on great security and offers many assets and cutting-edge trading alternatives. While Kraken’s fees are a tad more expensive, it’s also very easy to use. It offers a helpful guide on the most popular coins and tokens in the crypto space. In addition, the site is especially user-friendly, offering guides, podcasts, and videos to boost user knowledge. Another big difference between the two platforms is the lack of an in-house crypto wallet. However, as we explained, this gives you full access and security to your funds.
Key Features:
- Futures Trading
- High Trading Volumes
- NFT trading
- 24/7 Customer Care
- Liquidity
- Staking
Coin GPT is a reliable brokerage platform designed to match you with skilled crypto brokers in your area. The platform is beginner-friendly, but advanced traders struggling to profit can also benefit. Once paired with a broker, users can enjoy tools like trading software, educational material, top market deals, and more.
Coin GPT is known for its spotless customer care, with a team available 24/7. In addition, it boasts incredibly low fees. All that is required is a minimum deposit of $250, all of which is used for crypto investment. You can even discuss trading strategies with your crypto broker! Why not ask for help finding the best price for your crypto assets? Most importantly, you’ll be saving tons of time working alongside a broker.
Key Features:
- 24/7 Customer Support
- Low Fees
- Commodities Trading
- Plenty of Withdrawal Methods
- Broad Selection of Digital Currencies
The main goal of Bitstamp is to offer a trusty and safe platform for crypto trading. Users can trade popular crypto, including Bitcoin, Ethereum, Ripple, Litecoin, and others, thanks to the platform’s diverse trading pairs. The site also offers fiat currencies, allowing users to buy and sell digital assets using US dollar (USD), euro (EUR) and more.
BitStamp prioritizes its security. The site was recently regulated with a Luxembourg license, which boosted user confidence in the platform. The exchange offers new and expert traders a variety of trading tools and order types.
The Bitstamp API enables devs to add Bitstamp’s features into their apps. Users can now access their accounts, receive market data, and automate trades thanks to this feature.
Key Features:
- 2FA authentication
- Cold Storage
- Low Withdrawal Fees
- Anti-Money Laundering Policies
- Great Variety of Tradable Cryptocurrencies
Both novice and expert traders will enjoy Gemini’s user-friendly interface as well as recurring buys, limit orders, and price alerts. Users may even trade and control their portfolios while on the move. All thanks to Gemini’s mobile apps for iOS and Android devices. The site also offers cold storage solutions and online crypto wallets for its members. Gemini also has unique tools, like setting recurring buys and dynamic price alerts. Moreover, you may withdraw crypto to preset approved addresses as part of their top security measures. This feature can prevent theft and hacking, giving you peace of mind.
Key Features:
- 90+ cryptos
- Cold Storage
- Advanced Trading
- Recurring Buys
- Mobile App Available
- Low Fees
How To Choose a Crypto Exchange
Now that you have multiple exchanges, how do you pick the best crypto exchange? We have crafted a small guide to help you find the crypto platform of your dreams:
- Step One: Do you want to start trading crypto for the first time or have limited experience trading? Then select a platform that tailors to new investors with plenty of educational content. Alternatively, if you navigate the crypto space with ease, choose a crypto platform made for advanced trading.
- Step Two: Look at the fees. Higher trading fees aren’t for everyone, especially if you plan on trading crypto in the thousands.
- Step Three: Customer service is this high on the list for a reason. You don’t want to join a platform with poor customer service. If you do, be prepared to rely on self-dependence when solving your issues.
- Step Four: Are you a fan of 2FA? Do you value cold storage solutions? Crypto exchanges with renowned security options are your best bet.
- Step Five: Is it essential for you to trade Bitcoin or other specific cryptocurrencies? If an exchange doesn’t have the coin or token you like, there’s no point in signing up.
Once you have the answers to these questions, you can choose a trading platform successfully!
Our Verdict
Overall, Crypto.com has many pros and cons.
Their Visa perks are unlike anything we have seen on crypto exchanges and stand out.
The crypto exchange has designed a helpful mobile app for those that enjoy trading on the go.
However, we are alarmed by the user reviews we read online.
A poor customer support experience can leave a sour taste and set you back financially.
Hacks and sensitive information breaches also aren’t a good look.
Even though the platform offers relatively low fees, keeping the above in mind. Before joining, you should boost your security.
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