Crypto.com Exchange Review 2023
Crypto.com was founded in 2016. Initially, the platform was used to purchase, hold, pay and transfer digital currencies, operating under the name Monaco. However, in 2019 the developers decided to transform the service into a full-fledged cryptocurrency exchange.
Today, the mission of the service is active promotion of crypto assets. To achieve that, the company is growing, offering to use cryptocurrency in your everyday life. These are VISA, MCO cards and several cryptocurrency wallets for transactions and staking. The exchange also has its own asset – Crypto.com coin (CRO), offering many benefits for using it. The company aims to expand the ecosystem, where every person can use digital coins to pay for goods and services.
Crypto.com Exchange ranking
| Total score | 7,4 |
|---|---|
Commissions
|
9 |
Security and regulation
|
7 |
Markets
|
8 |
Passive income
|
8 |
Account opening
|
8 |
Deposit and withdrawal
|
7 |
Trading platforms
|
7 |
Analytics
|
8 |
Education
|
8 |
Customer support
|
6 |
Bonuses
|
5 |
Crypto.com pros and cons
Basic information
| Name | Crypto.com Exchange |
|---|---|
| Website | www.crypto.com |
| Exchange type | Centralized |
| Regulation | Securities and Futures Commission (SFC), Hong Kong FinCom – The Financial Commission |
| Taker commission | 0.4-0.1%, depending on the trading volume |
| Maker commission | 0.4-0.04%, depending on the trading volume |
| Demo account | No |
| Minimum deposit | No |
| BTC withdrawal limits | 100 BTC per day |
| USD withdrawal limits | Direct transaction is not available, but you can use the ACH system to convert and withdraw assets. The time frame for the transaction is 3-5 working days. The minimum amount is $100, and the maximum daily amount is $5,000. |
| Withdrawal in Fiat | Transactions via ACH, which are performed as a bank transfer, are available |
| Time frame for account opening | From 15 minutes (simple registration) to 36 hours (verification included) |
| Leverage | x3, x5, x10 |
| Markets | 265 |
| Passive income options | Staking, referral system |
| Customer support languages | English |
| Withdrawal fee | Calculated individually for each asset in crypto, for withdrawal of Fiat currency from internal wallet – 25 USDC |
| Methods of deposit | Debit/credit card (Visa/MC), wire transfer, cryptocurrencies |
| Methods of withdrawal | Debit/credit card (Visa/MC), wire transfer, cryptocurrencies |
| Account currencies | USD, EUR, GBP, HKD, JPY, cryptocurrencies |
| Promo | Welcome deposit bonus, referral program with bonuses for registration, special offers |
Commissions and fees of Crypto.com Exchange
There is an entire system of commissions, fees and control over financial transactions on the platform. We assessed the system of commissions and fees as transparent and the level of fees as low, particularly for active trading. Crypto.com charges reasonable maker and taker fees, ranging from 0.4% to 0.1% depending on the trading volume.
The platform uses an open and competitive payment structure. You can get a lower fee by placing CRO tokens. In addition, you will also earn 20% ROI on the deposit amount.
Trading fees on Crypto.com
The website has a convenient system of calculation of commissions and fees, according to which a user can be charged a lower commission if they increase their trading volume during the month. Below, you can see how the commissions change depending on the volume of transactions in the past 30 days.
| Market | Monthly volume |
Maker | Taker |
|---|---|---|---|
| Spot | $0 – $25,000 | 0,4% | 0,4% |
| $25,001 – $50,000 | 0,35% | 0,35% | |
| $50,001 – $100,000 | 0,15% | 0,25% | |
| $100,001 – $250,000 | 0,1% | 0,16% | |
| $250,001 – $1,000,000 | 0,09% | 0,15% | |
| $1.000.001 – $20,000,000 | 0,08% | 0,14% | |
| $20,000,001– $100,000,000 | 0,07% | 0,13% | |
| $100,000,001 – $200,000,000 | 0,06% | 0,12% | |
| $200,000,001 and above | 0,04% | 0,1% | |
| Futures | $0 – $25,000 | 0,05% | 0,07% |
| $50,001 – $100,000 | 0,04% | 0,065% | |
| $100,001 – $250,000 | 0,03% | 0,06% | |
| $250,001 – $1,000,000 | 0,02% | 0,035% | |
| $1,000,001 – $20,000,000 | 0,015% | 0,03% | |
| $20,000,000 – $100,000,000 | 0,01% | 0,025% | |
| $100,000,001 – $200,000,000 | 0,005% | 0,02% | |
| $200,000,001 and above | 0,0% | 0,015% |
Notably, in addition to different levels of commission depending on volume, traders can also get a 10% discount as a bonus on staking CRO. In order to receive bonuses, the commissions and fees need to be paid also in CRO.
The service offers separate trading fees for users holding the VIP status for spot trading, depending on the level (there are 3 levels in total). In this case, maker’s fee will range within 0.02-0.0%, and taker’s fee – 0.04-0.02%
Average commission on Crypto.com compared to competitors
| Crypto.com | Binance | Huobi Global | |
|---|---|---|---|
| Taker | 0,2% | 0,08% | 0,13% |
| Maker | 0,15% | 0,06% | 0,13% |
The fees for trading cryptocurrencies are slightly higher than those charged by the competitors. However, with active monthly trading, the fees will be lower.
If a trader trades futures actively during the month and reaches a trading volume over $200,000,000, no trading fees are charged. Also, the fees for trading derivatives are calculated separately. In this case, the order position – taker or maker – is the determining factor, and accordingly either paying a fee or getting a ‘reward’. There are 9 levels of commissions based on the 30-day trading volume here, same as with spot trading. Taker’s fee ranges within 0.07%-0.015%, and maker – 0.05%-0.00%.
Non-trading commissions on Crypto.com
There are no fees on deposits made in cryptocurrency, but the withdrawal fee is charged. For every asset, it is a fixed amount, which, as a rule is 50% of the minimum withdrawal amount. This means that if the minimum withdrawal amount in the IoTeX token is 0.16, the withdrawal fee will be 0.08. You can learn more about the fees charged on each asset in the Fees & Limits section.
Crypto.com fees for the transactions in Fiat currencies are calculated separately. At the moment, you can deposit and withdraw funds in AUD, CAD, EUR, GBP, USD, BRL. Notably, all transfers are available via SWIFT. The platform does not charge a deposit fee on the deposits in fiat currencies. However, your bank may charge a fee for the transactions, which you need to take into account. When credited to the account, any currency will be automatically converted into stablecoin USDC.
For withdrawals, you have to submit a request in USDC, and you will receive the amount to your debit/credit card in fiat money (as a rule, it is your wallet’s currency). However, withdrawal from the account at the exchange is charged with a 25 USDC fee.
Margin lending on Crypto.com
Margin lending with three types of leverage – 3x, 5x, 10x, is available on the platform. When a trader uses margin lending, they need to pay a trading fee. In case of order liquidation, the fee is fixed – 0.16% of the trade amount.
The exchange also has a special offer, i.e. a possibility to calculate your fee by yourself. However, this feature is only available if:
- There are no open orders at the moment;
- There are no trigger orders (placed in advance with the contract price and amount).
Notably, the final leverage for the position will be the lowest of the indicators available for the account and for the specific instrument.
| Instrument | Daily interest rate |
|---|---|
| BTC, ETH | 0.6%-0.008%, depending on the amount of the loan |
| USDT, USDC | 0.6%-0.2%, depending on the amount of the loan |
| CRO, ADA, VET, DOGE, DOT, UNI, LINK, ENJ, YFI, 1INCH, KSM, ALGO, LTC, MATIC, XRP, XLM, EGLD, SHIB, CHZ, PAXG, RLY, AXS, SLP, BOSON, LUNA, BCH, SUSHI, THETA, ATOM, AMP, SOL, FIL, SAND, IQ, AAVE, EOS, HOT, EFI, CELR, YGG, COMP, AVAX, ETC, NEAR, RUNE, ALICE, QNT, POLY, AGLD, DYDX, FTM, PLA, CRV, HNT | 0.08%-0.01%, depending on the amount of the loan |
Compared to the conditions of margin lending on other resources, a conclusion can be made that the lending fee is one of the best in the market.
Crypto.com Reliability and Regulation
Crypto.com exchange is currently registered in the Caymans under the name CRO DAX Limited. Notably, it is the first company in the segment to receive the ISO/IEC 27701:2019 as of now. It confirmed that the operation of the exchange is transparent and that the funds of the users are protected. The audit of the service was conducted by SGS, one of the leaders of the auditing services market.
Also, the company’s operation is regulated by the Securities and Futures Commission, Hong Kong and has achieved Level 3 of the Cryptocurrency Security Standard, providing full protection of the clients:
- User funds are held in cold wallets, while all financial resources are insured;
- The amounts available in hot wallets are company’s assets providing for uninterrupted operation of the system;
- Every user’s transaction is verified and tested against the use of third-party instruments for money laundering;
- The platform uses two-factor authentication provided by Google Authenticator or biometric authentication;
- Transactions can be performed exclusively to the addresses and accounts registered on the website (the so-called white accounts).
As of today, the exchange has not been involved in any scandals or hacker attacks.
Crypto.com Exchange Markets and Products
The platform provides access to the most popular digital assets as well as dozens of second-level coins. At the time of the review, the total number of cryptocurrencies on the platform was 126. The users also have access to trading derivatives.
Noteworthy, the trading volume on the platform increased considerably over the past year, which once again points to the growing popularity of the resource.
Pros and Cons of market diversity on Crypto.com Exchange
Crypto.com markets
| Crypto.com Exchange | Binance | Huobi Global | |
|---|---|---|---|
| Cryptocurrencies | 221 | 395 | 584 |
| Trading pairs | 467 | 1682 | 1135 |
| Bitcoin | Yes | Yes | Yes |
| Etherium | Yes | Yes | Yes |
| Altcoins | Yes | Yes | Yes |
|
Futures and options |
Yes | Yes | Yes |
| Cryptocurrency funds (a basket of cryptocurrencies in one lot) | No | No | No |
| NFT | No | Yes | Yes |
Cryptocurrencies (spot) on Crypto.com Exchange
There are 265 currency pairs available at the exchange, including:
- The most popular assets – Bitcoin, Ethereum, IOTA and others;
- A wide selection of medium-popular assets;
- Little known tokens, which are only gaining popularity.
As of now, the platform offers an average choice of trading position. Their number is lower than the flagship exchanges offer, but you can still choose a couple of dozen of assets here suitable for trading and testing new strategies.
Cryptocurrencies (Futures) on Crypto.com Exchange
Futures trading is available on the platform. For this, you need to go to the Markets in the top menu and choose the Futures tab. At the moment, two position options with different execution terms -69 and 149 days, are available. Notably, you can only use margin funding for trading futures.
Passive income on Crypto.com Exchange
There are two options for earning passive income on the platform: referral system and staking. Let’s review them in more detail.
-
The Syndicate Program
The Syndicate is the referral program of Crypto.com. Active users of the platform can invite other people and earn up to USD 2,000 and up to 50% of commissions paid by the referred user as a reward. -
Staking on Crypto.com Exchange
Staking at the exchange is available for CRO, and also assets from the stablecoin category. A user can buy them, transfer to a separate wallet for a term of 180 days and earn passive income during this entire period. Noteworthy, also traditional cryptocurrencies (Bitcoin, Ripple, Ethereum and others) are available for staking, although the return on stablecoins is 14% annual, and on cryptocurrencies – 8.5%. In this case, the profit is paid weekly.
In addition, a user, who is using staking, has access to a range of additional ‘goodies’:
- Access to the Syndicate program;
- Cash back in CRO for commissions and fees;
- Best conditions at Crypto Credit;
- Discounts on purchases of goods/services paid for in cryptocurrency.
The platform also provides an opportunity to earn passive income by staking De-Fi tokens. As a rule, it is staking tokens for a period of 180 days at a possible profit of up to 6% annual. It is an excellent option to increase your savings.
Account opening on Crypto.com Exchange
In order to start trading futures and cryptocurrencies, you need to create an account with the exchange. Notably, the registration and verification procedures are very clear and simple. The registration won’t take more than 15 minutes. However, in order to start trading fully, you will need to pass verification, which will take a bit longer than a day (depending on how loaded the system is).
Residents of which countries can trade at the exchange?
Cryptocurrency exchange is an international platform that is popular among traders from all around the world. There are restrictions for registration and trading only for the citizens or residents of North Korea, Iran and Syria.
How to open an account on Crypto.com Exchange:
a step-by-step guide
Signing up on the platform is quite simple, so you won’t need to seek advice.
Open the official website of the exchange. The English version of the website opens by default. www.Crypto.com
Also, even if you switch to another language, as shown on the image above, your registration form will still be in English. However, it is extremely simple. You will need to provide your first and last name, email, date of birth and citizenship. Also, you will need to come up with a password and confirm it.
If you have friends or acquaintances, who are already registered at the exchange, you can use their referral link and get bonuses for signing up by entering the promo code in the Referral Code box.
After that you need to agree with the conditions of personal data use and click on the Create Account button.
Confirm your email by entering the code from the email that will be sent to you in the corresponding box.
Link your phone number to your account by entering your number and then the code you received in a text message in the pop-up window.
Verification on Crypto.com
In order to work on the platform, you will need to verify your account. In order to do that, you need to provide your full name in the form and attach a screenshot/photo of your ID document – a passport, driver’s license. After that, upload a selfie with the document with a clear image of your photo and letters to the service.
Depending on the workload of the system, verification may take from 2 to 36 hours. Notably, during this time, the functionality of the platform may be limited. You will learn that your account has been verified from a notification letter sent to your email.
Minimum deposit on Crypto.com
In order to start trading, you need to fund your account. You can deposit cryptocurrency or fiat assets, which will subsequently be converted by the system into stablecoins. For deposits in digital money, there is no minimum amount. If you are depositing fiat money, the minimum transaction is $100. The amount is credited to your wallet and then converted into a token, which can be used for trading.
| Crypto.com Exchange | Binance | Huobi Global | |
|---|---|---|---|
| Minimum deposit | $100 in fiat, no minimum deposit in cryptocurrency | $5 | $20 |
Account types on Crypto.com
There is one standard account for the users at the exchange, but a separate wallet needs to be opened for each type of service. Also several wallets with different designation can be created, for example the first for active trading, the second for staking and the third for holding assets.
| Deposit limit | Withdrawal limit | |
|---|---|---|
| Account 1 | Up to $500,000 in fiat, and there are no limitations on deposits in cryptocurrency | Up to $500,000 per month, up to $100,000 per day, for cryptocurrency – up to 100 BTC per day |
Deposit and withdrawal on Crypto.com
The deposit options at the exchange include wire transfers, Visa/MasterCard card transfers via electronic payment systems and also transfers inside the exchange. It is quick, convenient, as there is no need to use third party services.
Deposit and withdrawal options and processing time on Crypto.com
| Deposit/withdrawal method | Commission | Deposit/withdrawal processing time |
|---|---|---|
| Bitcoin | 0.0004 on withdrawal | Withdrawal to the exchange’s internal wallet is instant. Withdrawals to external wallets take up to 2 hours |
| Ethereum | 0.008 on withdrawal | Withdrawal to the exchange’s internal wallet is instant. Withdrawals to external wallets take up to 2 hours |
| Debit/credit cards | 25 USDC | From several hours to two days depending on the workload of the system |
| SWIFT | 25 USDC plus a possible fee charged by your bank | Several hours |
| ACH | No fee (you bank may charge a fee) | Several hours |
Trading platforms of Crypto.com
You can trade assets at this exchange by either using the web version or downloading and installing the mobile application. Back when the platform was launched, only the web version was available; the app was launched last year. The website operates well, properly showing all charts and positions, also from a smartphone or a tablet.
Pros and cons
Comparative table of features
| Web | Mobile | |
|---|---|---|
| Two-factor authentication | Yes | Yes |
| Order types | Limit, Market, Expanded | Limit, Market, Expanded |
| Quote history | Yes | Yes |
| Tradingview charts | Yes | Yes |
Trading is the focus of the platform and the section with orders and charts will make it as comfortable as it can be.
First, the assets are conveniently located: Spot, Perpetual, Futures, which saves you time looking for the currency pair you are interested in. Once you choose an asset, you are redirected to a page featuring the price chart and also available orders.
The trader sees the page for trading with the price chart in the middle. Under the chart, you can see the list of orders and the entire transaction history in this account. The list of orders is divided into two tables, with the highlighted figure showing the current price of the asset.
Below the order book and transaction history, the user will see the form for creating orders for the purchase and sale of assets.
There are four types of orders currently available at the platform:
-
Limit
is an order for a purchase or sale of an asset. It is filled once the price of an asset reaches a specific level. -
Market
is an order for instant purchase/sale of tokens at the best market price. -
Stop-Limit
is an order to buy or sell an asset that has specific limits and features. It means that it is filled once specific criteria are met (for example, the price of a token should not exceed a specific amount). -
Stop-Loss
is an order that is filled once the coin’s price reaches a certain level or specific trading volume is achieved.
Trading platform. Comparison with competitors
| Crypto.com | Binance | Huobi Global | |
|---|---|---|---|
| Web platform | Yes | Yes | Yes |
| Android | Yes | Yes | Yes |
| iOS | Yes | Yes | Yes |
| Desktop | No | Yes | Yes |
Crypto.com trading platforms specs
You can trade cryptocurrencies at the Crypto.com exchange both from the main website and from the mobile application.
-
Web platform of Crypto.com
The web interface of the exchange is simple and intuitive: it is easy to navigate, has a wide range of features and instruments for analysis. Notably, trading from the web platform is rather convenient. Traders can use several charts at once, monitor indicators and promptly make decisions regarding trades. Windows of sale of each currency pair as well as charts can be opened in another tab, so the users will not get the values and indicators mixed. -
Mobile platform of the exchange
The mobile application of the exchange fully replicates the features of the main platform; all instruments for analysis are shown correctly for any resolution. It is very convenient, as you don’t have to be at the computer all the time in order to monitor the market.
Analytics at Crypto.com
All analytical materials of the exchange are available in the Research section that features reports on De-Fi tokens, a weekly review of the key cryptocurrency market news. The Data Analysis category features big articles on key changes in a specific cryptocurrency, direction of trends, etc. All information is supported by charts and statistics, which can be used when preparing a new trade. The only drawback is that there is no search feature. Therefore, if you need some specific information, you will have to search manually.
Education on Crypto.com
Educational materials of the exchange are available on the help platform and social media. On YouTube, these are short and medium-length tutorials featuring simple and clear explanations regarding purchase and sale of assets, launching staking, funding a trading account, etc. On the help platform, you can find guides on how to use a specific feature of the exchange. You can ask a question in the search box, but the system performs the search by words, showing absolutely all results. Therefore, you will have to search the article that you need from the search results. As for the trading basics and more detailed educational materials, there are none. You will have to search for the trading basics on third-party sources.
Customer support
The level of customer support leaves a lot to be desired.
Communication channels
There are the following ways to contact customer support:
Social media accounts are available in English and you can choose the language (from the list) in the Help Center.
Bonuses and promo
The exchange has a referral program, which we mentioned earlier, and a deposit bonus for newly registered users. The bonus is 2% of the transaction amount.
The exchange also has prize draws, where you can buy popular assets at a 50% discount.
Summary
Crypto.com Exchange is a rather good service for trading digital assets and investing in them. The exchange provides access to 265 assets, including flagship positions and second-level assets. In addition, the service offers good conditions of commissions and fees, which become lower as the monthly trading volume increases. The platform offers passive income options, including staking at around 6% annual profitability. Wide choice of indicators and charts that allow for full technical market analysis is yet another advantage. Also, the service features many analytical and educational materials.
Customer support is the only drawback of the platform. You can contact customer support via email or Help Center, but you will get a response only a couple days later, which is not very convenient in conditions of active trading.
Summing up, it is worth noting that Crypto.com Exchange is an excellent option for the beginners as well as professional traders, as the detailed review of the platform’s features showed that the exchange has a wide choice of tokens, good deposit/withdrawal conditions and even acceptable level of commissions and fees with higher trading volumes.
