Crypto.com exchange review
Cryptocurrencies:
Fees:
Security system:
Deposit methods:
Cryptocurrencies
Crypto.com offers an extensive range of over 250 cryptos, including some of the biggest ones on the market such as Bitcoin, Ethereum and Ripple.
| Bitcoin (BTC) | Available |
| Bitcoin Cash (BCH) | Available |
| Ethereum (ETH) | Available |
| Ripple (XRP) | Available |
| Solana (SOL) | Available |
| Dogecoin (DOGE) | Available |
| Polkadot (DOT) | Available |
| Polygon (MATIC) | Available |
| Cardano (ADA) | Available |
| Litecoin (LTC) | Available |
| Tether (USDT) | Available |
In contrast, Coinmama lists over 16 cryptos on its platform, while Bitget offers more than 100. However, compared to its competitors, Crypto.com provides a VISA debit card with up to 5% spending rewards paid in crypto.
Payment methods
You can deposit and withdraw in CAD but Crypto.com doesn’t explicitly outline all its limits.
| Payment method | Limits |
|---|---|
| VISA daily limit (buying in FIAT) | $500,000 requires KYC verification, ID check, proof of residential address and a selfie |
| MasterCard daily limit (buying in FIAT) | $500,000 requires KYC verification, ID check, proof of residential address and a selfie |
| VISA weekly limit (buying in FIAT) | $3,000,000 requires KYC verification, ID check, proof of residential address and a selfie |
| MasterCard weekly limit (buying in FIAT) | $3,000,000 requires KYC verification, ID check, proof of residential address and a selfie |
| Bank transfer | No limits |
| Wire transfer | No limits |
Coinmama requires multi-step KYC verification and this process is necessary for anyone who wants to buy or sell cryptos, regardless of the amount you wish to buy. The company asks you for a selfie while holding a handwritten note that states ‘Coinmama’ as well as today’s date. You must submit proof of identity, which can be a drivers licence, government-issued ID or passport, as well as proof of address, which can be a utility bill or bank/credit card statement from within six months, as well as a second government-issued ID for higher limits. You also need to complete a questionnaire.
You can complete multi-step KYC verification with Bitget but these checks aren’t mandatory. However, if you do complete KYC, there are perks such as a $3 reward coupon upon completion that can be used to offset spot and futures trading fees. The company asks you for a selfie, proof of identity, which can be a drivers licence, government-issued ID or passport, as well as proof of address, which can be a utility bill, correspondence from a government department or bank account statement.
CashtoCode eVoucher
You can’t fund your account with a CashtoCode eVoucher as this isn’t offered at Crypto.com.
Trading fees
Crypto.com charges relatively high trading fees through a tiered maker/taker pricing structure whenever you buy, sell or exchange cryptos. There’s no deposit fees if the money is transferred from your bank account via ACH, a 4% fee when buying crypto with a credit/debit card, as well as differing rates of withdrawal fees for all 250 listed cryptos. In addition, you can get a 12% discount on taker trading fees and zero maker fees if you use the platform’s own CRO token in trades.
| Pricing tier | Trading maker fee | Trading taker fee | Trading maker fee with CRO discount | Trading taker fee with 12% discount |
| Level 1 | 0.0750% | 0.0750% | 0% | 0.0660% |
| Level 2 | 0.0700% | 0.0720% | 0% | 0.0634% |
| Level 3 | 0.0650% | 0.0690% | 0% | 0.0607% |
| Level 4 | 0.0600% | 0.0650% | 0% | 0.0572% |
| Level 5 | 0% | 0.0500% | 0% | 0.0440% |
Staking
Crypto.com offers a program that allows users to stake any of the 22 eligible cryptos and the flexible rewards you earn depends on the amount staked, with annual percentage yields (APYs) of up to 12.5%. For instance, you can earn up to 2% on your Ethereum.
| Cryptocurrency | Flexible APYs |
|---|---|
| Cronos | 6% |
| Ethereum | 2% |
| USD Coin | 6.5% |
| Pax Dollar | 3% |
| Avalanche | 6% |
| Cardano | 3% |
| Cosmos | 5% |
| Fantom | 5% |
| Near Protocol | 6% |
| Polygon | 7% |
| VeChain | 3% |
| Bitcoin | 1.5% |
| Tether | 6.5% |
| Dai | 6.5% |
| Algorand | 3% |
| Binance Coin | 3% |
| Celer Network | 3% |
| Elrond | 5% |
| Harmony | 6% |
| Polkadot | 12.5% |
| Solana | 4.5% |
| Ziliqa | 6% |
Is Crypto.com exchange safe?
As a regulated Over-the-Counter (OTC) exchange, Crypto.com has been in operation since 2018 and amassed over 80 million users across the world. The company has comprehensive security measures in place that offer you a high level of security for users, from running a bug bounty program to holding all customer assets deposited on the platform in institutional-grade reserve accounts.
A low percentage of users (20%) rate Crypto.com with five stars on Trustpilot, which is a low indicator of safety. The company faced controversy in January last year when it underwent a large-scale hack that led to the theft of over $15 million worth of Ethereum, $19 million in Bitcoin and $66,200 in other currencies.
| Trustpilot | 2 star |
The most common issues raised are related to deposit and withdrawal concerns, with some users even alleging that Crypto.com stole money from their accounts. However, people praise them for a great mobile app and being able to earn rewards on spending via the Crypto.com VISA debit card.
Security
Crypto.com has industry-leading measures in place which have been audited by Kudelski Security. The company holds any assets you deposit within institutional-grade reserve accounts, which are backed 1:1 and transactions are protected by biometric multi-factor authentication. Crypto.com was even the first crypto company in the world to receive ISO 22301:2019, ISO/IEC 27701:2019 and ISO/IEC 27001:2013 certification.
| Safe coins storage | 100% of deposits are held in cold storage. |
| Two-factor authentication | Two-factor authentication via SMS verification is required at Crypto.com. |
| Information security | End-to-end data encryption and procedural data privacy assessments. |
| Platform security | Whitelisting external wallet addresses through email verification to secure platform transactions and all customer assets deposited onto the platform are stored in institutional-grade reserve accounts on a 1:1 basis. Transactions are also protected by biometric multi-factor authentication, while the software uses source code analysis tools. |
| Network security | ISO 22301:2019, ISO/IEC 27701:2019 and ISO/IEC 27001:2013 certification, which is the highest level for both NIST Cybersecurity and Privacy Frameworks, as well as SOC 2 standards, as well as audits by Kudelski Security. |
Coinmama has a broad range of security measures in place such as account access controls that limit withdrawals to only certain IP addresses or wallets, 24-to-48 account freezes and end-to-end data encryption. The platform also algorithmically tracks all accounts using real-time monitoring in order to prevent money laundering and financial crime, while 10% ($1 billion) of all trading funds are stored in a SAFU in order to reimburse you in the event of a hack.
Bitget has a broad range of industry-standard security measures in place such as multi-signature wallets, bank-level SS data encryption, built-in DPI active systems, Anti-Money Laundering (AML) controls, as well as Money Service Business (MSB) registrations with the Financial Crimes Enforcement Network (FinCEN), Australian Transaction Reports and Analysis Centre (AUSTRAC) and Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). The company also has an auditable Bitget Protection Fund containing $300 million for users to be reimbursed in the event of a platform hack and a Bitget Fund Custody service that enables users holding assets over 100,000 USDT to receive a separate custodial wallet.
How to start trading at Crypto.com exchange?
Registration
You need to create an account in order to register with Crypto.com and this can be done by:
- Visiting the homepage and inputting your email address so you can create a password and start the process.
- You then need to enter your age and country of residence and verify your email address.
- After verifying your email address, you can submit details such as full name and date of birth.
- You then need to enter your phone number to receive an SMS verification text message.
- After verifying your phone number, you have to complete KYC verification.
- Upon successful registration and passing verification, access to all functions of the site including higher limits are available to you.
KYC
After filling in your account details, you need to go through multi-step KYC verification. This process is required for anyone who wants to buy, sell or exchange cryptos on the platform.
You must provide a clear and visible picture of the front and back side of your documents such as proof of address and passport. In addition, you need to submit a selfie. Passing KYC checks unlocks functionalities such as the ability to earn rewards on your crypto balance through a staking program.
Customer support
Crypto.com offers an FAQs page on its Help Centre, a live chat function and email address but no customer phone support.
| Live chat | 24/7 live chat available in eight languages. |
| Phone support | No customer phone line available. |
| contact@crypto.com | |
| FAQs | Available |
Unlike most other large crypto exchanges, Crypto.com doesn’t use a ticketing system where users can fill in an online form with a subject, description and optional attachment in order to contact the company. For users who are dealing with emergency account issues, there’s no way to speak with customer service on the phone. However, this is compensated for by the 24/7 live chat function that’s available in eight languages.
Conclusion
Crypto.com is recommended to users who are looking for a wide selection of cryptos, a top-rated mobile app and educational resources to facilitate trading. However, there are limited payment options, no customer phone support and relatively high fees unless you use CRO in trades, making the service less accessible for active traders.
But if you don’t mind this, Crypto.com can still be a great option if you’re looking to earn rewards on spending, which is a major differentiating factor and unique selling point (USP) for the platform. The platform could improve its service by expanding payment method options or offering customer phone support.
Alternatives of Crypto.com
- Transaction fee discounts of up to 25%
- Detailed FAQs on the online Help Centre
- Average rating of 4 on Trustpilot with 71% rating 5 star
- Next to no security measures
- A low number of available cryptos
- High transaction fees
- No staking program
- Not regulated by the Financial Conduct Authority (FCA) in the UK
- No mobile app
- Limited customer support with no live chat function
- Low trading fees
- One-click copy trade function
- Numerous licences with global regulators
- Mobile app for iOS and Android users
- Low number of cryptos available to stake
- No educational resources for traders
- Limited customer service options
- Low trading fees
- Modern interface
- Wide selection of cryptos available at over 350
- Ability to stake 27 different cryptos
- Variety of payment methods available
- Regulatory issues and lawsuits
- Security concerns related to hacks
Coinmama doesn’t offer a VISA rewards debit card but they do provide more payment method options and fee discounts of up to 25%. They also have an average rating of four on Trustpilot with 71% rating five stars. However, the platform charges high transaction fees and you need to pay an extortionately high express fee of 4.99% when buying crypto using VISA, MasterCard, Apple Pay or Google Pay.
Bitget doesn’t offer a VISA rewards debit card but they do provide a wide variety of cryptos, stablecoin trading pairs and coin-margined futures, as well as a popular copy trade function that allows you to simulate another trader’s order. While there are no deposit fees, the platform charges low trading fees based on a tiered maker/taker pricing structure and you need to pay differing rates of withdrawal fees for over 100 listed cryptos. There’s also a 20% trading fee discount offered when using the platform’s own token, BGB, in trades.
In contrast, Binance charges low trading fees that are based on a tiered maker/taker pricing structure, as well as a flat 1% fee to convert and withdraw your crypto to cash. While there are no deposit fees, the platform does charge differing rates of withdrawal fees for all 350 listed cryptos, with each rate being determined by the blockchain network of the crypto itself and there’s a 25% fee discount offered for using BNB coins in trade. However, there are a wide variety of payment method options available despite there being no VISA rewards debit card.
Yes, because Crypto.com has been in operation since 2018, amassing over 80 million users across the world and they have developed a good standing with community members due to positive user experiences.
They accept MasterCard and VISA but it’s not apparent whether they are currently working to enlarge the choice of cards available for users.
It’s a 15-digit reference number given to each ACH transaction which can be used to track transfers.
Yes, but you need to log in to the merchant dashboard and select payments. After this, you can select the transaction and submit the amount to be processed for a refund.
Crypto.com doesn’t charge deposit fees if you make your purchase with money transferred from your bank account via ACH but you need to pay trading fees and a fee when buying crypto with a credit/debit card, as well as differing rates of withdrawal fees.
The platform offers commissions of 12.5% depending on the crypto being staked and there are 22 available within the staking program.
Specification: Crypto.com exchange review
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