https://investmentchannel Review: NFTs and Lots of Coins, but High Minimum Bank Deposit and Withdrawal Requirement

We want to help you make more informed decisions. Some links on this foliate — clearly marked — may take you to a collaborator web site and may result in us earning a referral perpetration. For more data, see How We Make Money. Crypto.com has been around since 2016, but most people are probably more familiar with it thanks to its marketing efforts over the past class. Matt Damon starred in a Crypto.com commercial during the Super Bowl in February, and in December the substitution took over the appellative rights for the former Staples Center, home of the Los Angeles Lakers and Clippers. These high-profile moves represent a push button by Crypto.com to raise awareness among a growing count of cryptocurrency investors. The substitution offers wallet service options, entree to nonfungible tokens, and a Visa rewards debit card. Crypto.com boasts more than 10 million users in 90 countries, and is headquartered in Singapore. The exchange has its own token, Cronos ( CRO ), which for some investors can provide a way to lower fees on crypto trades.

Crypto.com can provide a relatively easy way to manage crypto assets for beginning to intermediate crypto investors .

Before You Start

No matter where you buy it, cryptocurrency is a highly fickle, bad investment. alone invest in crypto what you ’ ra cook to lose, and make certain you have other fiscal priorities in station beginning : save money in an hand brake fund, put up to retirement savings, and pay off any high-interest debt balances .

Pros and Cons of Crypto.com

Pros

  • Offers more than 250 coins
  • Earn astir to 14.5 % on staking crypto
  • up to 8 % back on outgo with Visa debit calling card
  • competitive fees and discounts

Cons

  • Accessing deal fee discounts can be confusing
  • Must function CRO to get discounts and get the most out of earning and staking
  • minimum depository or coitus interruptus for bank transfer is 500 USDC

Crypto.com At a Glance

  • 250+ currencies available
  • Fees of up to 0.40%, based on a tiered, maker-taker model
  • Staking to earn up to 14.5% on crypto
  • Prepaid Visa debit card that allows you to use crypto or fiat currency to fund
  • Yield farming
  • NFT investing
  • Offers a crypto ecosystem based on the blockchain
  • Set up a wallet where you control your private keys

Cryptocurrencies Available on Crypto.com

Crypto.com offers access to more than 250 cryptocurrency tokens. With Crypto.com, you can access some of the top coins available, including :

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Bitcoin Cash (BCH)
  • Tether (USDT)
  • Binance coin (BNB)
  • Solana (SOL)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Cardano (ADA)

In addition to offering you the luck to buy, sell, and rally hundreds of cryptocurrencies, Crypto.com has its own token, CRO. Staking CRO brings you a rebate on trade fees, ampere well as the probability to earn rewards if you use Crypto.com ’ s Visa debit card. Staking is when you buy and hold coins to support the blockchain .

Crypto.com Fees

Like many other cryptocurrency exchanges, Crypto.com uses a tiered maker-taker model :

  • Maker: When someone places an order that isn’t fulfilled immediately, such as a limit order, they are considered a maker. The order remains “on the books” until it can be matched with someone else, resulting in liquidity for the exchange.
  • Taker: This is essentially a market order that is matched immediately with an order on the books. In general, taker fees are usually higher than maker fees at each tier.

The higher your 30-day trading volume, the lower your fees. Paying fees using CRO can provide a deduction, ampere well as allow you to earn pastime in the form of CRO paid day by day .

Withdrawal Fees

You won ’ metric ton see deposit fees from Crypto.com, but you will get charged if you withdraw to an external wallet. The fees you incur depend on the coin angstrom well as the network you use. additionally, your minimal withdrawal total besides depends on the coin. For exemplar, if you withdraw BTC, you can choose from two networks, BEP20 or BTC. however, with BEP20, you have to withdraw at least 0.0002 BTC and you will pay a tip of 0.0001. On the other hand, if you use the BTC net to withdraw, your minimal is 0.001 and your fee is 0.0005. When withdrawing your tokens, make certain to pay attention to the network being used and consider how the tip might impact what you receive .

Bank Transfer

When you do a bank transfer to buy U.S. Dollar Coin ( USDC ), you aren ’ deoxythymidine monophosphate charged a tip, but Crypto.com cautions that you could get a tip from your savings bank. The minimum deposition or withdrawal for bank transmit is 500 USDC, and the fee to withdraw from your USDC wallet is 25 USDC. so if you ’ re looking to transfer less, you may fare better on exchanges such as Gemini, Coinbase, or eToro, which have lesser requirements.

Crypto.com Security

Crypto.com prides itself on its security measures, including best practices for cryptocurrency exchanges. Whitelisting external addresses is mandate, and transactions require multifactor authentication. Your cryptocurrencies are held offline in cold repositing, with partner Ledger Vault. U.S. dollar balances are held by Metropolitan Commercial Bank, a member of the Federal Insurance Deposit Corporation ( a government agency that aims to maintain constancy and public confidence in the U.S. fiscal arrangement ), and are insured for up to $ 250,000. The change was the victim of a $ 35 million hack in January, involving unauthorized withdrawals of Ether and Bitcoin and affecting 483 users. The party said in a affirmation that it immediately stopped all withdrawals and no users lost funds. It then implemented security features such as user notification when a modern address is added as a payee, and the Worldwide Account Protection Program, which restores up to $ 250,000 for users in choice markets for both digital and decree currencies. We reached out to Crypto.com for remark and will update this review if the company responds .

Additional Details

Crypto.com offers a diverseness of products designed to let you explore cryptocurrencies and blockchain .

NFT Investing

Crypto.com gives you the choice to buy and sell NFTs. You can follow collections and creators, ampere good as sign up to receive drops and find out when collectibles are available. NFTs have attracted the attention of celebrities and mainstream investors, but they are even more notional than unconstipated cryptocurrency investments. Experts advise you only spend american samoa much on them as you ’ rhenium will to lose, and you don ’ metric ton prioritize them over more authoritative things such as paying down debt or setting up an hand brake fund .

Debit Card

Crypto.com offers a postpaid Visa debit card that allows you to earn crypto rewards when you spend. In order to qualify for the card, you need to interest CRO tokens for at least 180 days. You can use crypto or decree currency to top up your card, but all rewards are paid in CRO, directly to your Crypto.com wallet. Fees, rewards, and other benefits change by card tier .

Crypto.com Pay

You can use the Crypto.com network to pay merchants that offer Crypto.com Pay at checkout. This allows you to settle transactions without gas fees. You can besides send cryptocurrencies to friends and buy give cards, and you can get up to 10 % back in CRO funded by the network. still, we suggest you think doubly ahead paying in crypto as its price swings may have you paying more than intended. If you ’ re a merchant with your own business, you can besides set up your ability to accept crypto payments through Crypto.com Pay .

Earn

Like many cryptocurrency exchanges, Crypto.com lets you earn rewards by staking coins. You can get up to 14.5 %, with rewards paid hebdomadally. however, the amount you actually earn depends on how much you stake, angstrom well as the mint you stake and how hanker you leave the coin staked with Crypto.com .

Yield Farming

If you ’ rhenium willing to lock up your tokens for longer, you can receive rewards by render farming. This is done by contributing to liquidity pools that others use to fund transactions. Crypto.com offers access to a diverseness of projects that require liquidity, and you can be rewarded with a parcel of fees or with tokens when you ’ ra will to provide that liquid .

Wallet

You can choose from a centralized wallet and a decentralize wallet. The Crypto.com app features a centralize custodial wallet for your coins, while the Crypto.com wallet is decentralized. With Crypto.com ’ s noncustodial DeFi wallet, you can choose your net, decide on a transaction speed, and see what your fees are. With the custodial wallet, you don ’ t have to worry about losing your private keys, and you won ’ thyroxine give fees for transactions within Crypto.com .

Who Is Crypto.com Best For?

Crypto.com works well if you ’ re a novice to intermediate investor looking to buy, sell, and trade cryptocurrencies. You can besides invest in NFTs using Crypto.com and participate in staking and give way farm. The fees are competitive, as are the yields .

How to Open an Account with Crypto.com

In holy order to open an report, you need to download the app for io or Android. then you can connect your savings bank account to fund your purchases. You can besides set up your wallet using the app. The wallet is noncustodial, so you control your keys .

Crypto.com Compared to Others

Crypto.com Coinbase Gemini
Coins 250+ cryptocurrencies 150+ cryptocurrencies 70+ cryptocurrencies
Fees Up to 0.40%, with discounts when you use CRO 0.50% spread; Trading fee between 1.49% and 3.99% (or $0.99 to $2.99 flat fee) 0.50% convenience fee; $0.99 to $2.99 transaction fee; 1.49% transaction fee for trades over $200
Wallet Storage On the exchange, in the Crypto.com Wallet, or transfer to your own wallet On the exchange, in the Coinbase Wallet or transfer to your own wallet On the exchange, in the Gemini Wallet, or transfer to your own wallet
Minimum Trade Equal to the smallest amount of each coin that can be traded(about 0.0003 BTC) $2 Equal to the smallest amount of each coin that can be traded(about 0.00001 BTC)

Frequently Asked Questions

Can I trust Crypto.com?

Anytime you invest in cryptocurrency, you run the risk of loss. however, Crypto.com follows a diverseness of security protocols and is generally considered a lawful substitute. Your U.S. dollar funds are FDIC-insured, and the company recently rolled out the Worldwide Account Protection Program, which restores up to $ 250,000 for users in blue-ribbon markets for both digital and decree currencies .

Is money safe on Crypto.com?

While your money international relations and security network ’ deoxythymidine monophosphate protected from market drops or the excitability involved with cryptocurrencies, the company does make an attempt to protect customer funds. Crypto.com regularly undergo security audits and the company carries insurance designed to protect customer funds .

Does Crypto.com have customer service?

Crypto.com does have a corroborate page where you can access organized articles on a variety show of topics. You can besides send a message using live old world chat.

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