Crypto.com
Originally called Monaco technologies, Crypto.com offers users an all-in-one cryptocurrency platform that suits both beginners and experienced investors. Their all-inclusive Crypto.com Exchange allows users to buy, sell, and trade a wide range of different cryptocurrencies at competitive rates. It even offers its own CRO coin for anyone interested in investing or staking with that currency.
The Crypto.com App is available for both desktop and mobile. You can start using it to trade cryptocurrency via its exchange or its own DeFi wallet, depending on your preference.
Crypto.com Exchange Features
The Crypto.com Exchange has a lot of perks for most investors, making it more like a bank rather than just an exchange or brokerage. It’s not the most intuitive design, and its layout could confuse some beginners but its good selection and strong security still helps beginners ease into investing using crypto.
The exchange also makes it easy to convert fiat currency into crypto, accepting over 20 different kinds including the most commonly used ones like USD and EUR. No need to pay hefty fines for the transaction either, though note that depending on where you live, your choice of currency may be limited.
Fees
You can easily deposit money into your Crypto.com account via electronic bank transfer or wire transfer without the hassle of high fees. It also lets users buy and sell cryptocurrencies at its true cost, offering great value for money as an exchange.
Beyond the first 30 days, Crypto.com will now charge a fee for crypto purchases made with credit/debit cards on the Crypto.com App. Take note that your card may also charge a cash advance fee for the transaction.
Earn Interest with Crypto.com!
The Crypto.com App helps account holders earn high rates of interest up to 14%. Note that you’d need to keep a lot of cash in CRO in order to qualify for these perks. Ultimately, it will still depend on how long you leave the money and the amount of CRO staked. There are other means of increasing the interest rate earned:
- Staking more than 50,000 CRO.
- Deposit for a three-month term.
- Investing in a Stablecoin
Of course, keeping a lot of savings in crypto carries its own level of risk as the market is very volatile. You also don’t get any FDIC insurance compared to regular accounts. Always keep these risks in mind before investing massive amounts of money in crypto.
Crypto.com Wallet
Take full control of your cryptocurrency and access a full suite of DeFi services! Easily manage over 100+ coins while keeping your keys secure with the help of Crypto.com’s Wallet! With this service, your security takes top priority thanks to Secure Enclave, Crypto.com’s security feature that helps protect your keys via Biometrics and 2FA.
FAQ
- First, visit crypto.com/exchange and click the ‘Sign Up’ button on the upper right-hand corner.
- Then simply follow the instructions given, providing the necessary information. Wait for the confirmation link to be sent to your email address. Take note that you need to be eligible for the service in terms of age and country of residence. In terms of age, you need to be at least 18 years old.
- Click ‘Continue’. A one-time password (OTP) will be then sent to your registered email. Simply check your inbox to confirm your registration.
- Enter your OTP on the Exchange website.
- Create your password for your Crypto.com Exchange account and click submit.
- Lastly, you need to verify your phone number. Select the area code of your country from the dropdown and input your number without the area code. You should receive an SMS verification code. Enter this code into the given field and hit ‘Submit’.
- And you’re done! After that, you just need to verify your identity and you should be able to start using the exchange now.
In order to start depositing, withdrawing, and exchanging cryptocurrencies, you need to be verified at either the starter or advanced level. In order to be verified, you simply need to provide more information for KYC compliance.
- Navigate to your ‘Profile’ on the app and find the option to upgrade your account under the ‘Account’ tab. After that, you’ll have to follow three steps.
- First, enter your legal first and last name. This name should match your name on the ID.
- Next, select the issuing country of your ID and then select the type of ID you’ll use to verify your identity. Follow the on-screen instructions to complete the procedure.
- Lastly, take a photo of yourself holding a piece of paper with ‘Crypto.com’ as well as the date of the selfie handwritten on it. When ready, simply hit ‘Complete Submission’ and a confirmation page should show you whether your documentation has been successfully submitted.
- You should be able to check your verification status on your profile page.
There’s two primary levels available when it comes to using Crypto.com’s App and exchange.
Level: Starter
Reaching this level of verification allows users to start with the basics. It unlocks the ability to deposit, trade, and withdraw crypto up to a limit of $5,000 USD per day.
To reach this level, you need to provide the following information:
- First and last name
- Nationality
- Date of Birth
- Mobile Number (For receiving your OTP)
Level: Advanced
It enables the same perks as the starter level. This time, withdrawals in cryptocurrency will have a limit equivalent to 100 BTC per day.
It also asks for the same requirements albeit this time, they also need:
- An ID submission
- A Selfie picture
Most Crypto.com App users connected to the exchange are at this level of verification.
