- Wide selection of cryptocurrencies
- Crypto-only traders
Crypto.com at a glance
|Minimum balance:||None, but $1 trade minimum|
|Securities tradable:||More than 250 cryptocurrencies|
|Cost per trade:||
|Customer service:||No phone service, only self-help and chat|
|Mobile app:||The Crypto.com mobile app is available on the Apple App Store and Google Play Store|
Pros: Where Crypto.com stands out
Crypto.com actually separates itself from early trading apps by offering more than 250 cryptocurrencies, among the best in the industry. other cryptocurrency apps propose only the most popular coins, such as Bitcoin, Ethereum, Solana and others. But with Crypto.com, you ’ ll find those democratic cryptocurrencies along with more obscure ones like Polygon and Helium, vitamin a well as others you may have never heard of.
It ’ mho deserving noting that not all cryptocurrencies are available in every state, so be certain to check if a coin you ’ ra concern in is available in your location before getting started. The Crypto.com app is not available at all in New York state. fiscal apps that offer trading in other securities along with crypto typically only offer a handful of coins. Robinhood offers commission-free trade in seven cryptocurrencies, while Webull offers more than 20 and says it is working to add more. Coinbase is another option if you ’ ra looking for a wide choice of cryptocurrencies, but with about 125 coins available it falls short-circuit of Crypto.com ’ south offer. Be mindful that if you ’ re looking to trade non-crypto securities, you ’ ll need to open an report with a broke such as Schwab or Fidelity .
No fees on bank transfers
Crypto.com won ’ thymine charge you a fee to transfer money from your bank account to its chopine, which makes it the ideal choice for funding your bill. other fund options, like using a credit card, come with fees of closely 3 percentage. An automated clear house, or ACH, transfer typically takes three to five business days and comes with a minimum total of $ 20 and a daily limit of $ 100,000. You can besides fund an score through a wire transfer, which is a moment faster at one to two business days but requires at least $ 1,000 to be transferred per transaction. The daily maximum for a wire transmit is $ 1,000,000 .
Crypto.com allows customers to hold deposits of cryptocurrency with it and earn rewards in return. The commit, known as stake, is like to a bank save report that pays matter to, but with significantly greater risks. You ’ ll be able to earn rewards on more than 40 different cryptocurrencies at Crypto.com and sake is paid weekly. As of January 2022, you could earn up to 14.5 percentage a class by staking with Crypto.com. Staking with Bitcoin and Ethereum can earn up to 8.5 percentage a class. Remember that traditional bank accounts are protected by FDIC indemnity, which allows you to recover up to $ 250,000 in the event of a depository financial institution ’ s failure. Crypto staking does not come with any like indemnity policy and you besides face the grocery store hazard of losing your star if the cryptocurrency declines in value.
Read more: Top 5 Crypto Trading Apps in India 2022
Cons: Where Crypto.com could improve
Crypto.com comes in at the senior high school end of the compass for deal fees compared to other cryptocurrency exchanges. Most traders starting out will pay 0.4 percentage on transactions, but that phone number does decline if you ’ re an active trader. Most early exchanges charge 0.2 – 0.35 percentage and Binance.US comes in at fair 0.1 percentage. Crypto.com uses a maker-taker price model that, at senior high school volumes, rewards those that provide fluidity ( makers ) and charges a slenderly higher price to those that reduce it ( takers ). here ’ s a breakdown of how the fees change with increasing volumes .
|Less than $25,000||0.40 percent||0.40 percent|
|$25,001 – $50,000||0.35 percent||0.35 percent|
|$50,001 – $100,000||0.15 percent||0.25 percent|
|$100,001 – $250,000||0.10 percent||0.16 percent|
|$250,001 – $1 million||0.09 percent||0.15 percent|
|$1,000,001 – $20 million||0.08 percent||0.14 percent|
|$20,000,001 – $100 million||0.07 percent||0.13 percent|
|$100,000,001 – $200 million||0.06 percent||0.12 percent|
|$200 million and up||0.04 percent||0.10 percent|
A discount rate of 10 percentage is available for customers who venture CRO, Crypto.com ’ s own cryptocurrency, and pay trade fees in CRO. other exchanges, including Kraken and Binance.US, don ’ t accusation fees to makers once a certain flat of deal book is reached, but Crypto.com charges a small tip at even the highest volumes .
If you ’ re new to cryptocurrency and are looking to learn more about it, you ’ ll need to go somewhere other than Crypto.com. While some questions are answered through the on-line aid center, they ’ re largely focused on how to perform unlike functions through the app, rather than educating traders about crypto. Cryptocurrency has attracted many raw traders, many of whom don ’ thymine understand how trading works or the many intricacies of crypto. Crypto.com has reportedly spent hundreds of millions of dollars on advertising, including a television receiver descry with actor Matt Damon and a mention rights softwood for the old Staples Center in Los Angeles. surely, it could invest some money into more educational content to help novitiate traders .
Like many cryptocurrency trade apps, Crypto.com does not offer telephone back as share of its customer service offer. You ’ ll have to rely on a help center that ’ s only available on-line and focuses more on account fund questions and certain product features. There is a chat choice within the app for questions, but some customers prefer talking to an actual person on the earphone .
Crypto.com gives traders looking for the widest survival of cryptocurrencies a solid choice. You ’ ll be able to deposit funds from a bank account to the mobile app without paying a fee and you can earn solid returns through the platform ’ sulfur staking broadcast. Remember that cryptocurrencies are highly volatile and are a poor alternate for cash.
Read more: Top 5 Crypto Trading Apps in India 2022
trading fees are gamey, particularly for customers who don ’ thyroxine design on being active traders. Discounts are available if you plan to trade frequently. Crypto.com would besides benefit from improved educational resources and a customer service choice that includes talking to an technical on the earphone. For crypto-focused exchanges with lower fees, traders might consider Binance or Kraken. If you ’ ra looking for barely the most popular coins, general investing apps like Robinhood and Webull might be a better meet .
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