Crypto.com Review | Complete GuideJanuary 18, 2021
Crypto.com has already been in the market for several years. However, we believe that crypto users deserve a proper Crypto.com review. This is why at UseTheBitcoin, we have decided to create a complete Crypto.com review with all the information needed.
In this Crypto.com review, we will go through all the features offered by the platform, its solutions and how the company is helping the entire crypto ecosystem to grow. Furthermore, we will end with a Crypto.com conclusion that would summarize the content reviewed in this guide.
If you are an investor or a trader, Crypto.com is certainly going to be one of the best platforms for you. This guide will be focusing on all the products and services offered by Crypto.com. This would help you understand how this firm is revolutionizing the virtual currency and blockchain markets.
Let’s go to our Crypto.com Review
What is Crypto.com?
Crypto.com is a cryptocurrency and blockchain-related company that aims at accelerating the world’s transition to virtual currencies. The company is offering users the possibility to process payments, use a crypto-powered debit card and make cryptocurrencies available to everyone.
As a company that was founded in 2016, it was able to achieve an incredible number of users. After four years in the market, more than 3 million users are now enjoying the solutions provided by Crypto.com.
The CEO of the company is Kris Marszalek. He is considered a seasoned company builder and he is also the former CEO of Ensgo group and BEECRAZY founder. The CFO is Rafael Melo, a financial expert with over 15 years of experience in mobile payments.
Other top members of the team include Gary Or (CTO), Bobby Bao (Head of Corporate Development), Brend Diehl (EVP, Global Head of Business Solutions), and many others. While other crypto projects do not have clear leadership, Crypto.com is guided by some of the most successful leaders in the crypto industry.
This clearly shows the team has been carefully built with expert leaders in different industries. Compared to other crypto projects, the team behind Crypto.com is definitely prepared and ready to offer excellent solutions.
With this in mind, the company has a set of values that allows it to focus on its goal: accelerating the world’s transition to virtual currencies.
The main values of the company include the following:
- Think Clearly
- Be Resourceful
- Stay Determined
- Dream Big & Be Decisive
- Act as Owners
- Remain Humble
The Advisory Board of Crypto.com is also formed by prominent figures in different industries. Antoine Blondeau is the Chairman of the Advisory Board. He is the Founder and Managing Partner of Alpha Intelligence Capital. This is a global venture capital fund focused on Artificial Intelligence and Machine Learning technology companies.
Other members of the Advisory Board include Rob Bier, Organisation Design & Scaling, Chien-Liang Chou, Engineering, Chris Corrado, Trading Technology and Dimitri Tsamados, Talent. This team of experts is going to be ready to work side by side with Crypto.com’s team and help the company move forward with its goal.
For this Crypto.com review, we will take into consideration most of the services offered by this platform. We consider that a Crypto.com review should be fair by understanding the products they are currently offering.
The CRO Cryptocurrency
The Crypto.com Coin (CRO) cryptocurrency is currently one of the largest in the world. The CRO token is the native cryptocurrency of the Crypto.com ecosystem. The services offered by Crypto.com will all be backed by this digital asset. Understanding the CRO cryptocurrency is a very important thing of the Crypto.com review.
This digital asset was released to the market at the end of 2018. The goal was to launch it to accelerate the adoption of virtual currencies. By using the CRO blockchain, the company powers its wide range of services.
Additionally, the CRO token works as a cross-asset intermediary currency settlement for the Crypto.com Chain. At the moment, there are dozens of cryptocurrency exchanges supporting the CRO token. In the future, other platforms could add this digital asset to their listed coins. Some of the exchanges currently supporting CRO include Bithumb, UPbit, ZB.com and many others.
By using the CRO token, users can enjoy discounted fees in a large number of solutions offered. At the same time, they can expect to have higher earnings if they invest their coins in the Crypto.com ecosystem.
Users can also get access to the Visa Card and the mobile crypto payment application. Additionally, there is a wide range of financial services that would allow investors to get preferential rates on Crypto Earn and Crypto Credit.
At the time of writing this post, the CRO digital asset has a price of $0.066059. It also has a market valuation of $1.41 billion, making of it the 19th largest virtual currency in the world.
Crypto.com App Products and Services
Crypto.com is offering a wide range of services and products. These include a Cryptocurrency debit card, buying and selling cryptocurrencies, withdrawing funds to your wallet and bank accounts, earning passive income through Crypto Earn, lending and borrowing through Crypto Credit, Liquidity mining using Supercharger, and many other things.
Most of the cryptocurrency projects are analysed according to their products and services. By adding them to our Crypto.com review, we are able to have a clear idea of what the company is offering.
Let’s go one by one through these solutions and products to understand them better.
Cryptocurrency Debit Card
Crypto.com has been one of the first crypto companies offering a cryptocurrency debit card. The Crypto.com crypto debit card is one of the most advanced ways to use your digital currencies. You will be able to spend crypto, anywhere around the world where the Crypto.com VISA debit card is accepted.
There are many benefits of using the debit card provided by Crypto.com. Nonetheless, the benefits will be divided into different tiers. What does it mean? That depending on the CRO you stake, you will have different rewards.
With the free Crypto.com VISA card, you will get 1% CRO rewards on every single purchase you do. However, the rewards go up to 8% if you stake as much as 2,500,000 CRO in your Crypto.com account. This is massive if you are a large holder of CRO tokens. Understanding the way in which the Crypto.com VISA card works was a key part for this Crypto.com review.
The tiers are as follows:
- FREE: no need to stake CRO coins. 1% CRO rewards on card spending. No fee ATM monthly withdrawals up to $200. Interbank exchange rates with a monthly limit of $2,000.
- 2,500 CRO stake: 2% CRO rewards on card spending. Spotify 100% free. No fee ATM monthly withdrawals up to $400. Interbank exchange rates with a monthly limit of $4,000.
- 25,000 CRO stake: 3% CRO rewards on card spending. Spotify 100% free. Netflix 100% free. Airport Lounge Access. No fee ATM monthly withdrawal limit $800. Interbank exchange rates with a monthly limit of $10,000.
- 250,000 CRO stake: 5% CRO rewards on card spending. Spotify 100% free. Netflix 100% free. Prime 100% free. 10% discount on Expedia. Exclusive merchandise welcome pack. Earn bonus interest on the Crypto.com platform. Crypto.com private service with OTC block trades of CRO, research reports, inheritance service, industry events access and priority customer service. Airport lounge access, including one free guest. No fee ATM monthly withdrawal limit of $1,000. Interbank exchange rates monthly limit of $20,000.
- 2,500,000 CRO stake: 8% CRO rewards on card spendings. Spotify 100% free. Netflix 100% free. Prime 100% free. 10% discount on Expedia. Exclusive merchandise welcome pack. Bonus interest on the Crypto.com platform. Crypto.com private service with OTC block trades of CRO, research reports, inheritance service, industry events access and priority customer service. Private Jet Partnership. Airport lounge access, including one free guest. No fee ATM monthly withdrawal limit of $1,000. Unlimited interbank exchange rates.
You can see all the details of the benefits of the Crypto.com crypto VISA card on the official site.
Buy and Sell Cryptocurrencies
You can also buy and sell cryptocurrencies with the Crypto.com application. The Crypto.com app is available in the App Store and in Google Play. In this application, you will be able to buy cryptocurrencies at their “true cost.”
The official application of Crypto.com is offering buying and selling solutions of 7 fiat currencies and more than 80 cryptocurrencies. At the same time, the app will allow you to manage and spend the funds with the VISA card.
In order to buy cryptocurrencies with this application, you will have to top up your account. You can do so with a debit or credit card, a bank transfer, or even other virtual currencies. Once you follow this step, you will be ready to buy cryptocurrencies. For this Crypto.com review, this is certainly an important thing.
The funds you have in your account can be then withdrawn to an external wallet address. Nonetheless, you will have to pay a small fixed fee for it. If you want to send virtual currencies to another Crypto.com App user, you will be able to do it instantly and for free.
With the Crypto.com App, you can also track a large number of coins. This would allow you to have valuable and accurate information about the cryptocurrency market. You can monitor more than 200 coins, including prices, trading volume, market capitalization and more.
The fees for depositing, exchanging and transferring funds to users with a Crypto.com Wallet is 0.00%. Fees on transfers to external addresses will change depending on the digital currency. Buying and selling cryptocurrencies is definitely important to have a complete Crypto.com review.
The decentralized finance (DeFi) market has been growing during the last year. While traditional finance allowed individuals to save money and invest savings, it is now becoming less useful and exclusive.
With the DeFi market, cryptocurrency users from all over the world will have access to a wide range of solutions. That means that they would be able to earn interest on their virtual currencies over time.
However, DeFi platforms are usually difficult to use for traditional investors. This is why companies such as Crypto.com are offering solutions to get access to passive income using virtual currencies.
Users on the Crypto Earn platform can earn up to 6.5% p.a. on their crypto and up to 12% p.a. For Stablecoins. The interest is paid on a weekly basis in your cryptocurrency. That means that if you deposited BTC, you will receive BTC coins.
Users that stake the CRO virtual currency will be able to get even better rates. This is one of the many benefits of holding the CRO cryptocurrency. With a 25,000 or more CRO stake, users can earn the following interest rates:
At the moment, Crypto.com is offering users to earn rewards in a wide range of virtual currencies. These coins include Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), among others. Tezos (XTZ), MakerDAO (MKR), and Decentraland (MANA) are also included.
Most of the stablecoins such as USD Coin (USDC), Tether (USDT), Binance USD (BUSD), Paxos Standard (PAX) or TrueUSD (TUSD) are also supported. In the future, Crypto.com wants to add support to a larger number of coins and tokens. This would attract more users and investors.
Stablecoins are playing a very important role in the cryptocurrency market. They are allowing investors to get access to a large number of financial products. This is why, in this Crypto.com review, we take into consideration stablecoin availability.
Crypto Credit is one of the most useful solutions offered by Crypto.com. Crypto credit is a great way to get an instant loan. In order to do so, you would only have to deposit cryptocurrencies. The good thing about this loan is that is totally instant. You can use it as soon as you get it and no credit check is required.
Financial services are now closer to everyone with platforms such as Crypto.com. With Crypto Credit, you can use your virtual currencies as collateral and get an instant loan. You can receive TUSD, PAX, USDC or even USDT that you can spend as soon as you get it. The funds will be immediately deposited in your crypto wallet.
Remember, with the CRO digital currency you are going to have discounts on your loans. You can use CRO, LTC, BTC, ETH, XRP, EOS and many other virtual currencies supported by Crypto.com. There are several companies already offering this kind of service. This Crypto.com review includes Crypto Credit as an important part of this firm.
With Crypto Credit, you can pay whenever you want and there will be no statement deadlines. For example, you can deposit $5,000 in BTC and receive $2,500 in PAX, TUSD, USDC and USDT. You can also use the abovementioned virtual currencies as collateral. If you stake more than 25,000 CRO (currently ~$16,500), you can get lower annual interest rates.
While the decentralized finance (DeFi) market can be difficult to use, Crypto.com is bringing financial opportunities to everyone. This is why Crypto.com is providing the same solutions and access to the financial world but in a user-friendly way.
With Crypto.com’s Crypto Pay solution you can start accepting crypto payments today. This Crypto.com review will include all the products and services offered by the company. Crypto Pay is part of the core solutions that are powering the Crypto.com ecosystem.
With Crypto Pay, you can enter the crypto economy and start accepting Bitcoin and other virtual currencies. Everything can be done through a website integration and in just a few simple steps. If you are already using this solution, you will be paying low fees or no fees at all.
This is much better than using other crypto-related services providers. You can pay zero processing fees for settlements in cryptocurrencies. Furthermore, you will be able to save up to 80% on fees versus typical payment processors.
Additionally, you do not need to be worried about crypto volatility or conversion issues. We make it easy for you to understand this Crypto.com review. You will get paid in crypto and receive your preferred fiat currency. That means that the whole payment process is going to be very smooth to all online merchants.
Some of the companies that have already implemented Crypto.com’s Crypto Pay include WooCommerce, Ecwid, Opencart, Loveit and nopCommerce, among others.
Finally, you can also use Crypto Pay to spend your digital assets. At any page supported by Crypto Pay, you will be able to use your application and pay in just a few steps. This would allow you to effortlessly shop online and get generous cashback.
Invite a Friend and Get Rewarded
Crypto.com is also allowing users to recommend the services and get rewarded for it. You can get rewarded up to $2,000 in CRO for every friend you refer to the Crypto.com exchange. At the same time, you are going to enjoy 50% of their trading fees.
At the moment, there are no referral limits. That means you can refer as many friends as you want. In addition to it, you will receive the bonuses immediately in your account once all the conditions are met.
You will have a dedicated account online that would allow you to analyse the performance of your referrals. This is going to give you a clear idea of the funds you received, including the trading fee commission. The referral bonus is going to be $2,000 for those users that staked 5 million CRO or more.
As you can see below, the larger your CRO stake, the larger your rewards are going to be.
The Crypto.com exchange includes several features and solutions. This is one of the most important parts of this Crypto.com Review.
The first thing you need to take into consideration is that the Crypto.com exchange is powered by CRO. Its main features include deep liquidity, low fees and some of the best execution prices.
The Crypto.Com exchange was launched at the end of 2019 and it allows users to have some of the most competitive rates for trading cryptocurrencies. Depending on your 30-day trading volume and your CRO stake, you can also reduce your trading fees.
It is worth mentioning that the Crypto.com exchange works with a unified REST and Websocket API. This would make it very user friendly for both expert traders and newcomers to the market. Furthermore, it is also allowing users to trade with margin and derivatives.
At the moment of writing this post, there are 44 different trading pairs. The markets are going to be formed by three cryptocurrencies: BTC, USDT and CRO. USDT is the digital currency with the largest number of trading pairs in this platform. USDT is currently the virtual currency with the largest volume all over the world.
By using Crypto.com exchange, you will have to be verified. In order to do so, you can select the verification you want to have. The “Basic” identification level would allow you to have access to most of the services by providing just an email, a phone number and your name. With the advanced verification, you will have a 100 BTC withdrawal limit. However, you will have to submit an identity to the platform.
In the following sections of the Crypto.com review, you will be able to understand which are some of the other services offered by this company.
Syndicate Crypto.com Review
The Crypto.com Syndicate is a solution that will allow crypto projects to gather funds from Crypto.com’s userbase. Users of the Crypto.com exchange that want to participate in these token sales will be able to do so. Moreover, if you are staking CRO, you will have priority in these sales.
The token promoters are going to be allocating part of their tokens with a 50% discount. These coins can be acquired by Crypto.com’s users. All the funds gathered will be given back to the crypto projects. To do this Crypto.com review, we followed very closely how the Syndicate works.
It is worth noting that these crypto projects will have many advantages. For example, they will be able to integrate their tokens into the Crypto.com VISA card. They can also add it to the instant loans section and offer support on the Crypto.com Pay network.
The funds that users would be able to buy using this method is going to depend on their CRO staked. The range goes between 10k and 50 million CRO tokens. The lowest allocation would be $1,000 and the maximum allocation would be $200,000.
Although not all the projects will be profitable in the long term, it is a great way for users to get access to discounted tokens in the crypto market. In the long term, this could have a positive impact on investors.
There are more things in this Crypto.com review that are linked to the exchange. One of these platforms is known as Supercharger. The Supercharger solution is a secure liquidity mining platform that allows users to deposit tokens and mine other DeFi coins.
In recent months, the decentralized finance market started offering users the possibility to mine tokens. This takes place by providing liquidity to so-called pools. These pools allow traders to easily exchange coins without having to use a traditional exchange.
With Supercharger, users will have the possibility to participate in the DeFi market. You can deposit and withdraw funds from the Supercharger pool at any time during the “Charging Period.” Once the Charging Period expires, the reward period will start. The total time between investment and reward period is going to be 60 days.
Until now, Polkadot and Uniswap have been offered to the users in the Crypto.com platform. Crypto.com app users (with the exception of citizens of Hong Kong, China and the USA) would be able to participate in these events. Any verified Crypto.com Exchange user is also eligible to participate in Supercharger events.
Users will have the possibility to make multiple deposits starting with 100 CRO. During the “Charging Period,” users will deposit and withdraw tokens from the pool as they wish. During the “Reward Period,” the users will receive the rewards on the liquidity score accumulated in the “Charging Period.” The rewards will be distributed evenly on a daily basis.
The liquidity score calculation is going to be measured through different Snapshots. The liquidity provided by every user would be measured every single hour. The example given by Crypto.com is the following:
“Alice provides liquidity as follows:
- 100 CRO from day 1 to day 10 for 24 hours per day
- She withdraws her 100 CRO and from day 11 to day 20 is providing 0 CRO
- She deposits 200 CRO for 10 hours per day from day 21 to day 30
- Her total liquidity provided will be (100*24*10)+(0*10)+(200*10*10) = 44,000”
Finally, all the contributions of the users will be summed up. The liquidity share per user is going to be equal to the total liquidity provided per user divided by the total liquidity from all the users.
The rewards received will be calculated according to their share of the total liquidity. That means that the reward token distributed will be equal to the reward token in this pool times liquidity share per user.
If you want to accept your reward, this will take just a few seconds. You need to go to the Crypto.com App and select the Supercharger event detail page. If you accept before the first day of reward distribution, you will get the full reward for the remaining days of the reward period. If you don’t accept the reward distribution before it begins, you will lose that portion of the reward.
Crypto.com Review: Staking and CRO Benefits
Staking CRO using the Crypto.com App would allow you to have many benefits. At the same time, you can invest in the CRO digital asset if you believe its price can grow. Staking CRO is one of the many ways of getting rewarded for your participation in the space.
- Depending on your staking level, you can get a premium metal VISA card
- You can get Crypto Wallet Benefits such as rebates, extra card cashback and many others
- You can get better APR in the Crypto Credit section and the Crypto Earn platform
There are many other solutions in the Crypto.com ecosystem that will give you rewards. You just need to go through this Crypto.com review and check what the CRO cryptocurrency allows you to do. Basically, it potentiates your benefits of using the Crypto.com platform.
The larger your stake, the larger the benefits you will get on Crypto.com’s products and services.
Crypto.com Review of DeFi, DeFi Wallet and DeFi Swap
As we have already mentioned in this Crypto.com review, the DeFi market is attracting a large number of investors. This is why Crypto.com is working so as to offer DeFi-related solutions to users.
In this section of the Crypto.com review, we will go through two of the most useful DeFi services. We are talking of Crypto.com’s DeFi Wallet and DeFi Swap. Having active participation in the DeFi market is definitely important for us. This is why we considered it for the Crypto.com review.
Crypto.com Review of DeFi Wallet
The Crypto.com DeFi wallet is a decentralized and secure solution to hold your crypto. While most of the platforms in the crypto space offer custodial solutions, Crypto.com is going even further. This is why they have decided to offer a DeFi wallet.
With the Crypto.com DeFi Wallet, users will be in full control of their crypto. This is the real “Your Keys, Your Crypto.” You are going to be the real owner of your coins. Without intermediaries. You can easily manage BTC, ETH, CRO, LTC, XRP and XLM. You can also hold ERC-20 tokens in your DeFi wallet. In the future, new coins could be added to this wallet. The Crypto.com review of their DeFi products would improve if the company adds new virtual currencies.
With the Crypto.com DeFi Wallet, you will get access to diverse crypto financial services. These solutions are going to be provided by Crypto.com and other platforms. Furthermore, Crypto.com makes security its top priority. That means that your private keys are encrypted on your device using Secure Enclave. This is protected by Biometric Authentication and also 2-F Authentication.
Custody is the main difference between the Crypto.com App and the Crypto.com DeFi Wallet. The Crypto.com DeFi wallet is a user-custodied wallet. You are the ultimate custodian of your funds. You will get full access and control of your crypto private keys. This is one of the most important parts of virtual currencies. You are the real owner of your coins. This is definitely important for our Crypto.com review.
The Crypto.com App is a crypto asset brokerage that acts as a custodian. This is completely different than the Crypto.com DeFi Wallet. This solution stores the crypto for you and on your behalf. You will be able to use these funds, manage and handle them, but you will not have control of your private keys.
Crypto.com believes that it is a human right to control the money we own. Nobody else can decide for you. This is why they have decided to create a wallet that gives users full control of their coins. If you want to be involved in the DeFi market, you should use this wallet. If instead, you want to trade digital assets, the Crypto.com App is going to be the right choice for you.
Crypto.com Review of DeFi Swap
Swapping cryptocurrencies became one of the hottest topics in digital assets in recent months. Users can easily exchange their funds and coins for other tokens in just a few simple steps. Everything without having to rely on a centralized exchange. At the same time, they can farm and mine new tokens just by providing liquidity to pools.
DeFi Swap was created by Crypto.com for users to get access to decentralized finance services including farming and swapping coins. The main difference between other DeFi protocols is the way in which users get incentivized. This platform is going to be powered by the Crypto.com ecosystem and the CRO virtual currency.
In this protocol, liquidity providers are going to be incentivized through a novel solution called Triple Yield. Liquidity providers will be incentivized through Swap-fee sharing, CRO DeFi Yield for CRO stakers and LPs and Bonus LP Yield for selected pools.
As Crypto.com reports, there are 5 different functions available through this protocol.
The first one of them is called Swap. Users will be able to exchange (swap) tokens paying a 0.3% swap fee. This is going to be one of the easiest ways to get access to a large number of tokens. Swapping is nowadays very important for cryptocurrencies. This is why we have added this to our Crypto.com review.
The second function is the pool. Each of the liquidity pools has reserves fo two different ERC-20 tokens (which are based on the Ethereum platform) and issues an ERC-20 token that is a share of the pool.
The third function is known as Boost. Liquidity providers can easily increase, claim and view their CRO DeFi Yield and Bonus LP Yield. The larger the incentive provided to users, the better the experience.
The fourth function is going to allow users to estimate their CRO DeFi Yield through an APY. They will receive all the detailed information they must have to understand the way in which the platform is working.
Finally, the last function is analytics. This is linked also with the previous function. Users can view the overall and per token data of the CRO DeFi Swap protocol. This includes liquidity, trading volume, and all the available data.
It is worth mentioning that the protocol is working on top of smart contracts running on the Ethereum blockchain. Furthermore, this is open-source software that is licensed under the GPL. If you have any doubts you can always check the DeFi Swap Whitepaper.
Crypto.com Prices is the right way to start your day. This page is going to provide you with all the information you need about virtual currencies. You can see the price of the largest cryptocurrencies in the world, how they are behaving and many other things. We took this into consideration to do the Crypto.com Review.
If you are an investor or a trader, you need to have valuable information about the market. However, finding all the data you need can be somehow difficult. This is why Crypto.com has thought about it and decided to create a new and unique platform to display crypto-related information.
As soon as you have access to the page, you will be able to see which were the top movers. This makes reference to the top currencies with the largest price increases in recent hours. If a cryptocurrency moves by 50%, then it may be displayed in the main Crypto.com Prices page.
By using Crypto.com Prices, you will also have the possibility to get valuable information on each of the virtual currencies in the market. You can, for example, see the price of each asset, the percentage change in the last 24 hours, and more. You can also click on the “Trade” option if you want to buy or sell a specific virtual currency.
This is why we believe that Crypto.com Prices is a great way for investors to get access to their favourite virtual currencies and start trading them in just a few clicks. In the future, new information can be added to Crypto.com Prices. This page has been recently unveiled and many more features are going to be implemented.
Crypto.com Review Conclusion
In this Crypto.com review, we went through the main services offered by the platform. We have also shared information about the products that are available on Crypto.com. All of the new and most exciting trends in cryptocurrencies can be found in this Crypto.com review.
Some of the most adopted products include the Crypto.com VISA card and the Crypto.com Earn platform. This shows users are searching for new ways to expand their finances and possibilities.
We consider that this Crypto.com review should end with a clear verdict on the solutions offered by Crypto.com. We consider in this Crypto.Com review that the firm is a leader in the market and this can be seen in the way it is accelerating the world’s transition to cryptocurrency.
While a long time ago it was difficult to think of a crypto debit card, nowadays is a reality. Indeed, other companies are following Crypto.com’s example and leadership in this competitive industry.
No matter if you are a trader or an investor. Crypto.com is going to be offering the services you are looking for. At the same time, if you are an enthusiast about virtual currencies, Crypto.com will also be ready to offer you the products you need.
That being said, this Crypto.com review considers that the company is definitely at the forefront of accelerating the world’s transition to cryptocurrency. How? With all the solutions, services and products offered to crypto users from all over the world.
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