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Crypto.com review – Who founded Crypto.com?
Crypto.com was founded by four different people in total. Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo came together in 2016 to put this platform together. Bao and his team have set out to push for the adoption of local mass-market cryptocurrencies. During our crypto.com app review we found out that they launched a Monaco Visa Card as well as a mobile app, making buying and selling cryptocurrencies a rather smooth trading experience.
Now Bobby Bao is the managing director of Crypto.com, overseeing the platforms’ success while he’s supported by his co-founders.
Meanwhile Gary Or has launched Particle B as a startup, which, not surprisingly, is dedicated to projects build on blockchains such as the Crypto.com blockchain, thus still having a good partnership with this trading platform.
Crypto.com review – Is this broker regulated?
The Crypto.com trading platform is regulated in several different countries across the globe, making it one of the more trustworthy platforms out there. If you’re an avid trader and you’re looking for a secure and professional platform, then Crypto.com is probably the right platform for you.
In Asia the broker is regulated by the Monetary Authority of Singapore and has received a Major Payment Institution License. In Dubai it was granted the Virtual Asset MVP License by the Virtual Assets Regulatory Authority. Very recently, in August of this year, Crypto.com also acquired two startup companies in South Korea: the payment service provider PnLink Co. Ltd and the virtual asset provider OK-BIT Co. Ltd. This was a smart step, as it allowed Crypto.com to acquire registration licenses in South Korea, allowing them to provide financial services under the electronic financial transactions act.
Meanwhile in Europe the company managed to acquire Licenses from the FCA of the UK, the MFSA of Malta and the CySec of Cyprus, all regulatory authorities that are well-known and respected by traders.
Crypto.com review – Is this broker available in USA?
Yes, Crypto.com is available in 90 countries including United States, is currently available in 49 states except New York state.
Crypto.com review – Cronos Coin
Cronos (CRO) is Crypto.com’s native token and part of the Crypto.org Chain. The crypto.com trading platform created this token with the mission to make cryptocurrencies more accessible to the public.
The CRO token was initially created as an ERC20 token. This was basically a rebranding of the original MCO token from 2018, reflecting Monaco’s name change to Crypto.com. Since March 2021 it’s been the native token of the crypto.com trading platform. Then in February 2022, it was changed again to the new Cronos name, reflecting the transition of CRO to the native token of the growing Cronos ecosystem, which includes Web3, NFT, and metaverse solutions.
Crypto.com review – A look at the advantages and disadvantages of Crypto.com
One of the things that really sets Crypto.com apart from most other platforms is the number of incentives the broker throws at you for trading and staking cryptocurrencies. With the right trading strategy you can really profit quite a bit from these advantages, so active traders should really take a look at this platform, lest they might be missing out on a few really good deals.
Aside from the low fees and other monetary incentives related to cryptocurrencies the platform also offers a rather big selection of crypto assets to trade and it also has pretty strong security, as mentioned before. Despite a hacking incident taking place the platform managed to deal with it swiftly and no funds were lost, which is something not every platform can say of itself.
Pros:
- Large selection of cryptocurrencies
- Native Cronos coin
- Strong security
- Low fees
Cons
- Higher trading fees for low volume traders
- Not enough educational resources
- Bad customer support
Crypto.com review – How’s the customer support?
Probably the biggest downside of the Crypto.com trading platform is customer support. During our review, we weren’t able to find a landline number, so it seems contacting them via phone is out of the question.
There’s both a live chat and an email form, which you can use to contact customer support and request help for any issues that may arise. However, we found that replies are usually very slow and not always helpful. The user reviews reflect our own experiences pretty well, with scores being low across multiple websites offering customer reviews.
Out of all the things crypto.com needs to improve, this is probably the biggest one, as its really losing them customers left and right.
Crypto.com review – Mobile App
The Crypto.com mobile app, just like the desktop version, has a rather intuitive interface and grants you access to more than 100 cryptocurrencies, allowing you to trade on the go.
You can even use the Crypto.com Visa Card to pay for daily purchases, allowing you to use it just like any other currency. That makes the app not only a great trading experience but also a very convenient tool.
Crypto.com review – Fees
Fees are the bread and butter of a trading platform, and as an active trader, you should only accept the best, as in, the cheapest fees. The reason for that is rather simple. The fewer fees you pay per trade or withdrawal, the more potential profit you can squeeze out of your trades.
Overall the fee structure of Crypto.com was a rather pleasant experience for us. Users that trade more often will be rewarded with lower fees, so the platform is particularly interesting if you trade a lot.
Here’s an overview of the fee structure:
As you can see in the image above you can save a lot of money when trading high volumes. Even more so when using the CRO token, so don’t miss out on it.
As you can see there’s also another fee structure specifically for VIP users, offering even more discounts on your trading experience.
If you want to check out the entire fee structure, including withdrawal limits and minimum deposits, visit this link: Crypto.com Exchange – Gebühren & Limits
Crypto.com review – Payment methods of Crypto.com
As with most crypto-to-crypto exchange platforms, you don’t really have access to many payment methods the way you’d usually have access to on other platforms. Instead, you’ll most likely end up topping off your account with cryptocurrencies you’ve bought using an e-wallet of sorts, something we will explain in more detail at the end of our crypto.com wallet review.
There is, however, a little workaround. Using the Crypto.com Visa Card you can top up the said card with either Mastercard, Maestro, Visa or Visa Electron. Both minimum deposit and minimum withdrawals are set at 500$, so you’re always working with big numbers here, something we personally liked during our crypto.com invest review.
Crypto.com review – Supercharger feature
The supercharger feature allows you to deposit your CRO tokens into the Supercharger pool and in return, you’ll be able to receive rewards in the form of DeFi tokens.
These rewards and their allocation are recalculated each day and they are based on the liquidity of the user. So, the more liquidity you can provide, the more rewards you can potentially reap.
Crypto.com review – Price Page
The Crypto.com Price Page allows you to track the latest token prices, market capitalization rankings and market movements in an easy and fast fashion.
It’s a good tool to improve your trading experience and it adds a lot of depth to your trading strategies. You should definitely check out this feature and make use of it, before you start trading your tokens.
Crypto.com review – Recent cyber attack
In January of 2022 Crypto.com experienced a rather unfortunate situation, as the platform was under attack. During this attack 15 Million US Dollars in Ether were stolen and for some time Crypto.com had to stop all withdrawals to ensure the situation would not spiral out of control.
Luckily, the issue was fixed rather quickly and during the whole process, no user funds had been compromised, showing that the safety measures in place had worked rather well. Still, it was a strong reminder that no platform is completely immune to cyber attacks, but a good platform will always have means to keep their users funds secured.
Crypto.com review – What can I trade on this platform?
- 250 cryptocurrencies can be traded on the Crypto.com trading platform, and while this isn’t the biggest selection out there, it’s still a pretty big offer to boot. Of course, you will also find the most popular tokens such as Bitcoin, Ethereum and Crypto.com’s native token Cronos. The later will come in handy, if you want to profit from its inherent incentives.
- 20 fiat currencies are offered on the Crypto.com platform, despite primarily being a crypto exchange, as discussed in our crypto.com exchange review. Fiat currencies are another good way to create potential profits, especially in the current political climate. The price of some fiat currencies is definitely undervalued right now, so take a look and you might be able to come up with a good trading strategy.
- Lots of nfts are also available on the platform, which we quite liked when we conducted our crypto.com nft review. So if you’re a fan of the Bored Ape Yacht Club, here’s your chance to trade some nfts.
