Our Verdict

Founded in 2016, Crypto.com is a global cryptocurrency exchange from Singapore. It offers close to 400 digital assets for trading and a wide variety of tools, such as bots, API integration, leverage and margin trading, catering to the needs of expert traders.

The spot trading fees on Crypto.com are some of the lowest on the market, making it a good fit for active traders. Casual traders can enjoy the lack of deposit and withdrawal fees, while hodlers can find a few passive income tools here.

Crypto.com Pros and Cons

Is Crypto.com Right for You?

Not all traders are the same. Some seek easy apps for trading on the go, while others look for advanced features like leverage or social trading. When reviewing exchanges, we cater to all types of traders, from occasional to frequent. We divided all traders into seven main target groups.

Our thorough yet straightforward method ensures a clear understanding of trading strategies and their requirements. By assessing, ranking, and recording key factors, we determine how well the exchange meets the needs of each target group. We use three types of rankings: perfect match, good choice, and not recommended. Here’s our verdict:

Casual Traders: Acceptable Choice

Crypto.com is an acceptable choice for casual traders like myself. During my tests, I discovered many security measures that help users protect their assets. The desktop version is equipped with 2FA and provides logs on account activity. The mobile app security can be enhanced with biometric authentication, an anti-phishing code, and a passkey.

The exchange offers a convenient method of buying and selling crypto for fiat, and it doesn’t charge any fees for deposits and withdrawals. It also offers fast and efficient customer service via Live Chat.

Crypto.com offers Derivatives and Spot trading with Market and Limit orders. There is also a DCA bot with the payments taken from the fiat balance on the platform. However, the lack of P2P trading makes the platform less convenient than its rivals, such as Binance or KuCoin.

Day Traders: Acceptable Choice

Crypto.com is an acceptable choice for day traders. Trading fees are considerably lower than the industry average, while the available security measures are sufficient for asset protection. The available tools for active traders include advanced conditional orders like Market, Limit, Stop-Loss, and Take-Profit. There is also advanced charting and a robust API library, and its intuitive interface simplifies fast order execution.

However, the number of tradeable assets is lower than that of other centralized exchanges like HTX or Binance. The recent hack that the platform experienced in 2022 may also impose certain risks on users’ assets.

Hodlers & Position Traders: Acceptable Choice

Crypto.com is an acceptable choice for hodlers and position traders. The platform offers strong security measures, helping investors protect their assets. Although the exchange recently experienced a hack, it fully and promptly reimbursed all affected users. Its responsive and user-friendly interface facilitates buying and selling crypto, while customer support is always ready to help via Live Chat.

It is possible to make passive income through staking, but there are no crypto lending products. Additionally, the diversity of available assets is limited compared to competitors.

Leverage & Derivatives Trading: Acceptable Choice

Crypto.com is an acceptable choice for leverage and derivatives traders. The platform offers derivatives trading with up to 50x leverage and margin trading with up to 10x leverage. It is lower than the leverage offered by the market leaders like Binance or HTX, but still higher than the market average. It also includes an insurance fund designed to cover traders’ profits.

However, not all users can access these products due to geographical limitations.

Auto, Social & Copy Trading: Perfect Match

Crypto.com is a perfect match for auto trading, though it lacks copy and social trading features. During my tests, I found DCA, Grid, and TWAP trading bots available by default, along with an option to create a custom bot by setting up frequency, duration, and start time. The exchange provides insights on coins, such as Top Gainers and Top Losers.

If you’re interested in Copy and Social trading, check out the OKX exchange.

Algorithmic Traders: Acceptable Choice

Crypto.com is an acceptable choice for algorithmic traders. It offers a robust API library with trading data, and its trading fees are below the market average. It also has a high liquidity score, though I discovered some assets with comparatively low trading volume during my tests. The exchange lacks a backtesting environment and doesn’t offer trial funds.

DCA Investors: Perfect Match

Crypto.com is a perfect match for DCA investors, offering a DCA trading bot as a standalone feature. The bot includes essential functions, allowing investors to customize the frequency of orders, order type (Market or Limit), maximum number of orders, and purchase size. Regular purchases are made using fiat funds from the balance on the platform. Around 180 trading pairs are available, with assets traded against USD, USDT, BTC, and a few other popular cryptocurrencies.

However, the bot doesn’t integrate with other exchanges or allow for more complex rules based on market conditions. Despite this, it remains a useful tool for investors seeking a simple way to automate a DCA strategy.

Supported Countries and Regions

Crypto.com operates in over 100 countries worldwide and is available in the US, except for New York. Despite its broad coverage, it still lags behind other large exchanges like OKX or KuCoin.

Most of the restricted regions are third-world countries such as:

• Iran
• Iraq
• Ethiopia
• Libya
• Cambodia
• Gabon

Most Pacific Island nations, including Samoa, Tonga, and Vanuatu, are banned from using the platform. A few European countries, such as Andorra and Montenegro, also do not have access to Crypto.com.

As the list of restricted regions may change, we recommend checking the most up-to-date information in the platform’s Help section.

Crypto.com Bonuses and Special Offers

Welcome Bonus

Crypto.com Mobile runs a Welcome Bonus Mission for new users. It offers various missions to complete in order to get rewarded in crypto. There is no information on which assets one may receive, but the Help article states that this is $CRO, the platform’s native token.

Loyalty program

The platform features a loyalty program that provides users various benefits based on their activity:

• up to 10% via staking stablecoins
• up to 0.5% rebate on every trade
• up to 8% back in $CRO when using the platform’s Visa card
• up to a $200 bonus for every referral

The program comprises 20 levels, with the possibility of tracking achievements in your account.

Trading competitions

Crypto.com regularly conducts trading competitions to stimulate users’ activity. During my tests, I discovered a Trading Arena where users can win up to $1,000 for trading FET, LINK, NEAR, and other tokens. The platform launches new events every week.

Refferal program

Crypto.com users can earn additional rewards in CRO through a referral program. Up to $2,000 is available per referral based on the amount of the referred friend’s initial CRO lockup.

Join Crypto.com using our referral link to receive a bonus of up to 1050 USDC and a 50% discount on trading fees.

Crypto.com Background

Establishment: Crypto.com was established in June 2016 in Hong Kong under the original name Monaco Technologies GmbH. It then changed its name in July 2018 as part of a rebranding strategy.

Leadership: The platform was founded by four seasoned entrepreneurs: Kris Marszalek, who has a few other successful startups behind him; Rafael Melo, who has 15+ years of experience in finance; Gary Or, who also founded a WEB3 ecosystem, Cronos Labs; and Bobby Bao, an active investor and a Co-Founder of Foris.

Security & Transparency

Verified Trusted Scores

Crypto.com holds high ratings on reputable platforms like Cryptocompare and Cer.Live, though it’s not perfect due to a 2022 hacking incident that resulted in a $35 million loss. A few users experienced unauthorized withdrawals, but Crypto.com quickly reimbursed all affected, maintaining its reputation as a secure exchange.

During testing, I found that Crypto.com offers robust security measures to help protect user funds. However, it still trails competitors like ByBit and Kraken, which hold higher security ratings.

Proof of Reserves. Crypto.com provides full coverage of customers’ assets via the Proof of Reserves, attested by Mazars Group, a leading global professional services network. The exchange also enables its customers to conduct a self-audit via Merkle Leaf.

Cyber Security Measures

The desktop version includes Google 2FA as the first layer of security. Once this was set up, I could access other protections like a withdrawal whitelist, a trusted device list, and an anti-phishing code.

Crypto.com Mobile comes with biometric authentication, a passcode, 2FA, passkeys, and an anti-phishing code. The app also offers an option to verify links, email addresses, and social media IDs to ensure that communications from the platform are legitimate.

During testing, I set up the passcode but eventually had to turn it off, as the app required it every time I unlocked my smartphone, which became annoying. However, this feature could be useful for those storing a large amount on the platform.

General Reliability: Crypto.com operates a bug bounty program via HackerOne, a dedicated vulnerability disclosure platform trusted by large businesses globally. The rewards for the most critical bugs range between $30,000 and $80,000, which is much more than what industry leaders usually offer. However, developers can expect to receive even larger rewards if a discovered vulnerability proves to be truly severe.

Corporate Communication Structure and Transparency: The company is quite transparent, as its website displays information about its founders and other key team members. It is also active on all the major social media platforms, including Twitter (X), Telegram, and LinkedIn.

Know You Customer (KYC)

KYC is mandatory on Crypto.com. It involves providing an ID (e.g., a passport or driver’s license) and a video of the customer’s face. The platform doesn’t differentiate between verification levels and grants full access once the required information is submitted.

The platform processed my information within a few hours, granting me access to the app. However, when I attempted certain transactions, Crypto.com requested my residential address and proof of it. Only after providing this did I gain full access to the app’s features.

After passing KYC, some features, such as margin and derivatives trading, remained unavailable to me due to regional restrictions.

Is Crypto.com Safe to Trade With?

Based on my research, Crypto.com is a globally licensed platform with high-security standards. Although it has experienced severe losses due to a hacking attack, it has fully reimbursed all affected users. The platform relies on third-party insurance to back up customers’ assets and implements different security methods for both desktop and mobile versions.

In summary, our findings indicate that Crypto.com can be regarded as having a moderate level of trust and stability due to the following factors:

• Proof of Reserves with full coverage
• Active bug bounty program up to $80,000
• Verifiable team profiles
• Transparent fee structure
• Active social networks

Trading Experience

Crypto.com offers passive income services

• Staking: The platform offers around 30 different tokens for on-chain staking and only 2 coins for DeFi staking.
• Supercharger: Higher income for staking tokens related to specific events, along with a “booster bonus” for staking CRO (Crypto.com native token).
• CRO Lockup: Up to 8% APR (Annual Percentage Rate) for locking CRO for 180 days.
• Soft Lockup: Earning daily interest for holding funds in the exchange account, with around 25 coins available.

Crypto.com Products and Offerings

Crypto.com issues Metal VISA Cards for storing both fiat and crypto. The prepaid cards come in five key tiers based on how much CRO holders lock in their accounts.

Users who gain access to the top two tiers receive access to Crypto.com Private. This exclusive offer includes OTC block trades of CRO, inheritance services, industry event access, and priority customer service. Other perks are detailed in the table below.

Check up-to-date information on the official website of Crypto.com.

The platform offers a separate product, Crypto.com Pay, that enables its users to shop with popular assets, including BTC, ETH, and CRO. As an integral part of the Crypto.com Mobile App, it also allows users to purchase gift cards, fund a prepaid phone, and send crypto to friends.

Crypto.com features its own NFT marketplace for buying and selling unique items from leading creators and brands. During my tests, I discovered some of the famous collections, such as Bored Apes and Mutant Apes, listed on the website. This means that it’s possible to trade not only NFTs created on the platform but also those purchased elsewhere.

Crypto.com offers a DeFi Desktop Wallet for those who prefer storing their assets in a non-custodial manner for enhanced security. This desktop app is available for Mac and Windows and provides users with full control over their private keys. The wallet enables earning rebates on 25+ tokens, swapping tokens across multiple chains, and storing NFTs.

Trading Test

For our trading test, we thoroughly evaluated the Crypto.com platform. Our process included signing up, completing the KYC (Know Your Customer) verification, logging in, depositing funds, and making withdrawals. We also tested the trading functionalities by exploring different trading pairs and conversions and assessed the associated fees for transfers and withdrawals. This comprehensive test allows us to provide an informed and reliable review of the exchange’s usability, features, and actual costs. Here’s our detailed analysis:

Step 1: Setting Up and Funding Your Account

To sign up for Crypto.com, you only need to provide your email address and set up a password. On the mobile app, you can scan a QR code to log in instantly.

During my tests, the app also asked me to verify the registration via a one-time code sent to my email and then provide my first and last name. This was the first level of verification, which took just a few minutes.

The KYC procedure was simple. I was asked to provide some basic information about myself, upload a scan of an ID document, and pass the facial verification. I received a confirmation email the next day, as the whole process took around 24 hours, which is average for the industry.

When I attempted to deposit funds, the app requested additional documents to verify my residence. After submitting the required information through the mobile app, I waited a few more hours to gain full access to its features.

Despite completing KYC, I encountered a slight delay when trying to deposit funds, as the app required an additional hour to create my online wallet.

I transferred USDT from my MetaMask. The process was straightforward: I selected the network and could either scan a QR code or copy the address. My funds arrived within minutes, with no extra fees from the platform, only the $4.20 Ethereum network fee.

Step 2: Trading

Crypto.com offers a unified account for storing assets, accessible across all its products. Unlike KuCoin or BitMart, it doesn’t require transferring assets across internal wallets, and I could immediately start trading. The trading interface is clear and convenient, making the process smooth for a casual trader like myself. As I purchased some LTC for USDT, the transaction was executed instantly.

The “Trade History” tab shows the fee charged by the platform. The charge equaled 0.001656 LTC or 0.3%, which corresponded with the fee declared on the website.

Step 3: Withdrawal and Review

While testing Crypto.com, I attempted to withdraw LTC to my Trust Wallet. The process was somewhat complicated due to the numerous security barriers that the platform has in place to help its customers protect their funds.

As a result, it was impossible to copy and paste the address for withdrawal. The app required me to add it to the list of trusted addresses first and confirm it twice via SMS and 2FA codes.

Crypto.com charged me 0.002 LTC for the withdrawal. This fee was twice as high as HTX’s (0.001 LTC) but 2.5 times lower than the fee charged by KuCoin (0.005 LTC). The funds reached my wallet in around 10 minutes, which is an average time on the Litecoin network.

Desktop Version

In this review, I tested the desktop version of Crypto.com. Its perfect balance between functionality and ease of use makes it a good fit, even for beginners or casual traders like myself. At the same time, its robust set of features and tools, like built-in trading bots, API, and derivatives trading, caters to the requirements of experienced traders with sophisticated strategies.

Charts. Crypto.com’s desktop trading platform integrates with TradingView. It offers a large number of drawing tools like crosses, dots, and arrows, as well as indicators like Moving Average, Stochastic, and Relative Strength Index. The clean, intuitive layout is beginner-friendly and offers a better user experience compared to KuCoin’s cluttered interface.

Navigation Ease. Navigating the platform was easy, and I quickly found all the features and tools I needed. Executing an order was simple, requiring three steps: selecting a trading pair via the coin search, setting up order details, and specifying the price and quantity.

Withdrawal process. As mentioned, I needed to confirm the external wallet address multiple times before withdrawing assets. Although slightly irritating, this adds security, especially for beginners.

Crypto.com features a standard Order Book that displays the list of all open orders for a selected trading pair. It’s also possible to customize the number of digits displayed after the decimal point.

Coin Search. Finding a trading pair or a specific coin on Crypto.com is easy, thanks to a standard coin search functionality. The platform displays the last price, how much it has changed over the selected period, and the overall trading volume.

My Key Takeaways After Testing Crypto.com

Crypto.com offers a wide variety of sophisticated trading tools for expert traders. At the same time, its clear and user-friendly interface makes the platform a good fit even for novices in crypto trading. Crypto.com has proven to be the most user-friendly trading platform I’ve ever tested, outperforming even OKX and BitMart.

However, Crypto.com doesn’t offer P2P trading, and there are also no social and copy trading features. Traders looking for these tools may consider other platforms like HTX and BitMart.

Mobile App

The Crypto.com mobile app, available for iOS and Android, combines trading with a hot wallet for asset storage. While it mirrors most desktop features, it lacks options like Take-Profit and OCO orders. For advanced wallet functions, Crypto.com offers a separate DeFi Wallet.

The app’s security tools mirror those of the desktop version. During testing, I set up trusted addresses, 2FA, and an anti-phishing code. I also enabled Biometric ID to open the app with a fingerprint.

Key features and tools on Crypto.com app include:

• Coin Search. The mobile app is equipped with a convenient Coin Search field, making it easier to find the needed assets.
• Trading Features. The app supports only four order types: Limit, Market, Stop-Loss Limit, and Stop-Loss Market. All other elements, such as the Order Book, Order History, and Charts, are the same as in the desktop version.
• Market Discovery. The app’s Index page provides different highlights, such as the Top Gainers, Top Losers, and Top Volume.

• Trading bots. The mobile version offers only DCA and Grid bots. The DCA bot’s first buy frequency, duration, and time can be customized.

My Key Takeaways After Testing Crypto.com on Crypto.com Mobile

In my tests, I found that Crypto.com Exchange Mobile offers nearly the same features as the desktop version, with only minor differences. The clear interface made it easy to find all the tools I needed. The mobile app balances sophisticated tools with simple navigation, making it suitable for both experienced traders and beginners.

Fees

Spot Maker/Taker Fees

In our review of spot fees, we examine spot fees across three distinct tiers, focusing on the fees for different trading volumes. We focus on the essentials and potential savings through native tokens and various discount schemes. Our unique methodology provides a clear view of fee structures and how they benefit traders of all levels.

The first tier typically represents casual traders, as they don’t usually trade more than $10,000 per month, while the higher tiers often relate to more advanced traders. Using this method, we’re categorizing users not only by their trading style but also by the amount of money they spend on the exchange.

Additionally, we also compare these fees with industry standards to give a thorough perspective on each exchange’s affordability.

The fees at Crypto.com are lower than the industry average. Higher Taker fees encourage Makers to place orders that are not completed instantly, which increases the liquidity of the exchange.

Deposit fees

Crypto.com allows fiat deposits through bank transfers but restricts other methods, which can be an obstacle for users who prefer alternatives like bank cards or digital wallets such as PayPal or Venmo. In contrast, platforms like Changelly and BitMart offer a wider range of fiat payment gateways, including Simplex and Banxa, though they come with higher fees. However, transactions on Crypto.com are fee-free, making it competitive with platforms like KuCoin.

Withdrawal fees

Crypto withdrawals on Crypto.com incur a fee that varies by coin. Fiat withdrawals via bank transfer are free. The platform supports 7 different currencies following the industry standard. The list of available assets includes the following:

• USD
• GBP
• EUR
• SGD
• AUD
• CAD
• BRL

Users who wish to withdraw more exotic currencies may try other platforms like BitMart or Chnagelly. These platforms rely on fiat payment gateways like Mercuryo that support a much wider variety of assets but charge substantial fees.

Leverage And Futures Trading Fee Rate

According to the latest information in the Help section, Crypto.com applies the existing Spot Trading schedule to Margin trading. Another article about Derivatives trading fees refers to the page with Spot fees as well. Due to regional restrictions, I was unable to test leverage trading or check the size of the fees during my tests.

Fee Discounts

Crypto.com offers only two methods of reducing trading fees:

• High trading volume. High-net-worth traders receive discounts after reaching specific monthly trading volumes. The minimum discount starts at $50,000.
• Crypto.com native tokens. The platform encourages the use of its native token, CRO, by providing discounted fees to its holders. The minimum discount is available for those who hold at least 1,000 CRO in their balances.

Are Crypto.com Fees Competitive?

While testing Crypto.com, I performed a few transactions to confirm that the fees matched those listed on the official website. Spot fees are lower than those of competitors, though fees for leveraged and margin products are considerably higher. Free fiat deposits and withdrawals make Crypto.com comparable to giants like Kraken.

However, fees may vary, and it’s best to check the official website for the latest information. In summary, the fees at Crypto.com are competitively priced, making it a suitable choice for professional traders.

Cryptocurrencies Available on Crypto.com

Deposits & Withdrawals

Crypto.com Deposit Options

Crypto.com supports fiat deposits via bank transfer (ACH), wire transfer, SWIFT, and SEPA, which are convenient and fee-free for EU residents. However, this limits options for users outside Europe who lack EU-based bank accounts. Other common payment methods, such as P2P, debit/credit cards, and systems like PayPal and AdvCash, are not available, and the limited fiat currency options may pose challenges for users in other regions.

For broader fiat options, platforms like BitMart and Changelly offer multiple fiat gateways, and Binance and KuCoin have robust P2P markets with local peers globally.

Crypto.com Withdrawal Methods

The withdrawal process on Crypto.com is available via the same methods and currencies as deposits. However, to transfer funds back to a bank account, users are required to have at least one successful EUR deposit via the SEPA network due to compliance regulations.

Crypto.com Daily Deposit & Withdrawal Limits

Crypto.com has no deposit or withdrawal limits on crypto transactions. Fiat transactions, however, are limited for both retail and institutional customers, as shown in the tables below. This information may change, so we recommend checking the relevant data on the official website.

Daily Deposit Limits

The minimum and maximum deposits on Crypto.com come along with the industry average. The platform sets up reasonable amounts that users can upload to their accounts and doesn’t have any maximum cap.

Daily Withdrawal Limits

The minimum withdrawals on Crypto.com are slightly higher than the market average. For example, Binance enables its users to withdraw 10 EUR via SEPA transfer at a time. However, the lack of withdrawal fees makes Crypto.com superior to its rivals.

During my tests, I was able to easily deposit and withdraw fiat from Crypto.com to my bank account. The withdrawal process was straightforward and didn’t incur any fees.

Customer Service

Crypto.com offers high-quality and fast 24/7 support via live chat with a representative, but it falls short compared to competitors like Coinbase and Binance, which additionally provide email and phone support. The desktop version of Crypto.com offers support only in English, while the mobile app supports eight different languages. The website also includes a detailed FAQ section.

Crypto.com Customer Support Test

To evaluate the quality of customer services for diverse user needs, we created a unique trading test. We personally contact support using all available methods and present hypothetical problems that users might face. Our evaluation concentrates on how quickly they respond, the quality of the help provided, and whether we can talk to a real person rather than a bot. This method effectively measures the capability of customer support to assist both active traders and casual investors.

The customer support at Crypto.com was generally positive. Both the mobile app and website provided informative responses that addressed my questions. In the mobile app, I connected with an agent in about 3 minutes, while on the website, it took around 10 minutes, which could be due to the volume of queries rather than the platform version.

One downside is that the app doesn’t allow taking screenshots. Overall, Crypto.com’s support is better than that of industry giants like KuCoin and OKX.

FAQ

Is Crypto.com trustworthy?

Based on our research, Crypto.com is a secure and regulated cryptocurrency exchange. It keeps 100% of customers’ funds in cold wallets and provides full coverage via the Proof of Reserves.

Can US Citizens Use Crypto.com?

Yes, the platform is available in 49 states in the USA, except for New York. It holds a license with FinCEN, which allows it to operate within the region.

Has Crypto.com ever been hacked?

Yes, the platform experienced a security breach in January 2022. Hackers performed withdrawals from users’ accounts without 2FA. The company fully and promptly reimbursed all affected customers.

Does Crypto.com require KYC?

Yes, verification is obligatory for all Crypto.com users. The KYC process involves providing a full legal name, a picture of a government-issued ID, and a selfie.

Can I use leverage or margin trading on Crypto.com?

Yes, the platform offers derivatives trading with up to 50x leverage and margin trading with up to 10x leverage, but it’s not available in the app by default. Users have to switch on the corresponding toggle in the trading interface to access this feature.

Is my money safe on Crypto.com?

Crypto.com offers full coverage of clients’ funds via the Proof of Reserves. The platform has also acquired a US $150 million insurance policy for fiat deposits.

Is Crypto.com regulated?

Yes, Crypto.com has licenses with FinCEN in the US and FCA in the UK. It has also gained approval from Dubai’s VARA, a Major Payment Institution License from the Monetary Authority of Singapore, and licenses in a few other countries.

Does Crypto.com offer any bonuses, welcome offers, or referral rewards to its users?

Yes, Crypto.com runs a Welcome Bonus Mission for new users, with rewards being paid out in CRO. It also features loyalty and referral programs and regularly conducts trading competitions.