Crypto.com – A Guide To Your Cryptocurrency Journey

Crypto.com – A Guide To Your Cryptocurrency Journey

With cryptocurrency popularity at an all-time high, an in-depth review will explore why Crypto.com is the perfect platform for cryptocurrency beginners and experts.

What is Crypto.com?

Founded in 2016 by Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao, Crypto.com is a cryptocurrency exchange platform with the goal to promote the cryptocurrency’s use to the world.

Use our exclusive Crypto.com referral code [ 94gjag23xh ] and receive a free sign up bonus worth up to $75 USD in CRO token.

First, unlock a $25 referral bonus on the App by staking a minimum of 1,000 CRO for the MCO Visa Card. Then, get an additional $50 by staking 5,000 CRO on the Exchange with the same code.

Driven by the vision to place cryptocurrency in every wallet, Crypto.com looks to accelerate the world’s transition from fiat money to cryptocurrencies. Utilising blockchain technology, Crypto.com aims to democratise finance and bring a higher level of transparency to established banking systems, thereby shifting the balance of power back to the people and away from powerful institutions. To achieve this goal, Crypto.com strives to deliver a range of intuitive and rewarding consumer products that appeal to the beginner as well as advanced traders.

With over 3 million registered users, Crypto.com has witnessed a substantial growth in popularity during the current COVID-19 outbreak, despite the virus’s devastating impact on the global economy. This outcome is believed to be the result of Kris Marszaleks’s decision to strongly gear Crypto.com towards everyday individuals.

As a result of the pandemic, more people turn to cryptocurrency as a hedge against the capricious current market, Crypto.com has been able to thrive in this environment by offering customers multiple avenues to take full advantage of their digital asset holdings. The introduction of MCO visa cards in particular has helped to forge a pathway towards cryptocurrencies being used as a viable form of payment. For those looking to purchase, save and spend popular cryptocurrencies, Crypto.com is proving to be one of the best options in the market.

Available in over 90 countries worldwide, Crypto.om allows users to trade over 68 cryptocurrencies, including Bitcoin, Ethereum, Litecoin and Stellar. Additionally, in a bid to bridge the gap between cryptocurrency and fiat money, Crypto.com also offers the ability to spend local sovereign currencies.

crypto.com bg25 - ratewise

Why use Crypto.com?

After Bitcoin broke the $30,000 barrier, the cryptocurrency market has witnessed an upsurge in activity and value over the past month. For this reason, it is important that new traders interested in the cryptocurrency market have access to the best tools to capitalise on this boom.

Placing customer accessibility at the forefront of the platform’s development, Crypto.com allows everyday individuals to take their first steps into the cryptocurrency market. The platform offers a variety of services that include cryptocurrency investment, wallet storage, user promotions that incentivize trading, interactive data charts, acceptance of different fiat currencies.

In addition to this, Crypto.com also houses its own cryptocurrency named Crypto.com Coin (CRO) which users can stake for potential cashback, rebates, and interest rewards. Unlike other exchange platforms, Crypto.com allows users to purchase cryptocurrencies at the price of real-time exchange rates without any add-on fees.

This approach to trading allows users to purchase popular cryptocurrencies like Bitcoin at a faster and cheaper rate than any of its competitors. Operating as one of the cheapest sources to buy cryptocurrency in the market, Crypto.com continues to showcase why it is the ideal platform for new traders who want to enter the trading world.

Why Use Crypto.com?

After Bitcoin broke the $30,000 barrier, the cryptocurrency market has witnessed an upsurge in activity and value over the past month. For this reason, it is important that new traders interested in the cryptocurrency market have access to the best tools to capitalise on this boom.

Placing customer accessibility at the forefront of the platform’s development, Crypto.com allows everyday individuals to take their first steps into the cryptocurrency market. The platform offers a variety of services that include cryptocurrency investment, wallet storage, user promotions that incentivize trading, interactive data charts, acceptance of different fiat currencies. In addition to this, Crypto.com also houses its own cryptocurrency named Crypto.com Coin (CRO) which users can stake for potential cashback, rebates, and interest rewards.

Unlike other exchange platforms, Crypto.com allows users to purchase cryptocurrencies at the price of real-time exchange rates without any add-on fees. This approach to trading allows users to purchase popular cryptocurrencies like Bitcoin at a faster and cheaper rate than any of its competitors. Operating as one of the cheapest sources to buy cryptocurrency in the market, Crypto.com continues to showcase why it is the ideal platform for new traders who want to enter the trading world.

How does Crypto.com make money?

With aims to increase the feasibility of using cryptocurrency in everyday life, cryptocurrency listed on Crypto.com is priced at its ‘true cost’. This approach is the result of Crypto.com’s drive to make cryptocurrency more accessible to everyday individuals. Taking this stance has allowed Crypto.com to build its reputation in the past few months as an ideal platform for both beginners and experienced investors. Employing an open and competitive fee structure, Crypto.com generates a majority of its money from its native CRO and MCO tokens.

The use of MCO tokens provides users access to Crypto.com’s MCO Visa Card system that charges fees for ATM withdrawals and interbank exchanges. CRO tokens differ in their approach and act as the main influence for the overall growth of Crypto.com network. Available to trade on multiple exchange platforms, CRO tokens have seen a surge in value in the market due to increased Crypto.com user activity in the past year.

In addition to this, Crypto Exchange makes use of the maker-taker fee model. “Makers” are classed as individuals who place orders that are not filled immediately by matching to an existing order. While “Taker” traders place an order at market price that is filled immediately. Maker/Taker fees range from 0.1%/0.16% to 0.04%/0.10% depending on user tier.

What popular cryptocurrencies does Crypto.com support?

With increased knowledge of cryptocurrency, many cryptocurrencies have witnessed a growth in popularity by acting as cheaper alternatives to Bitcoin. To meet this new demand in alternative cryptocurrency, Crypto.com allows users to exchange some of the most popular cryptocurrencies. These include:

Bitcoin

The poster boy of cryptocurrency, Bitcoin recently broke the $30,000 barrier to register the highest price valuation in crypto history. Amassing a 170% increase in valuation within a year of stock market turmoil, the adoption of Bitcoin as a viable form of payment continues to grow as recognized organizations such as PayPal show their support.

This shift in cryptocurrency acceptance has allowed Bitcoin to maintain its status as cryptocurrency market leader and remains the highest cryptocurrency traded on Crypto.com.

Ethereum

Launched in 2015, Ethereum is considered one of the first “alt coins” and is seen as a close second to Bitcoin in terms of popularity as well as status in the cryptocurrency community.

Enabling the deployment of smart contracts and decentralized applications to be built and run without downtime or fraud, Ethereum has gained the support of many companies including video game giant Ubisoft and Dutch bank ING. Ethereum’s ERC-20 token standard acts as the reference point for Crypto.com’s MCO and CRO.

Ripple XRP

A cryptocurrency token derived from the Ripple system used to settle payments, currency exchange and remittance for banks, Ripple XRP has gained popularity in recent years thanks to its roots and connections to the banking industry. With existing settlement systems incurring exchange fees for the conversion of currencies.

The conversion of currency into XRP, has begun trialing in Banks including Santander and the Commonwealth Bank of Australia as elimination of exchange fees and faster payment processing speeds becomes more appealing.

Litecoin

Considered the 3rd largest cryptocurrency after Bitcoin and Ethereum, Litecoin’s main function is operating as an online payment system. Like online banking, Litecoin allows users to transfer currency to each other.

While Litecoin reportedly has fewer than 250,000 users, many analysts suggest that as cryptocurrency gets more readily accepted this user count could rise to a point where Litecoin becomes a standard currency of the digital realm.

Stellar

Relatively new to the scene, Stellar has gained a lot of support in recent years due to its prioritization of global exchanging. Operating as a global exchange network, Stellar has the capability to host multiple exchanges between fiat currencies and crypto tokens in a matter of seconds.

As a result of this capability, Stellar has amassed popularity around the world for offering swift and cheap exchange rates for cryptocurrencies and/or fiat currencies.

How does it work?

Crypto.com utilizes a dual-token system that consists of a native CRO token and MCO token.

Based on Ethereum’s ERC-20 standard, Monaco Coin (MCO) is a cryptocurrency developed by Crypto.com that has generated over $27 million in sales and is currently trading on 30 exchanges globally. Geared towards Crypto.com users, MCO tokens are used as a staking mechanism that traders can use to access high toolsets and tiered benefits.

These benefits include, allowing users to access tiered MCO cards by staking MCO tokens and receiving 5% return in MCO tokens for all transactions made using an MCO card. Currently the circulating supply of MCO tokens stands above 15 million, out of a planned 31 million.

Using Ethereum’s ERC-20 tokens as a reference, Crypto.com Coin (CRO) tokens are used as a means of payment and settlement on the company’s native blockchain. Operating as the alternate token in the ecosystem, users can stake CRO tokens to see a reduction in trading fees or use it to purchase cryptocurrencies at a discounted price in the Crypto.com Exchange.

Billing itself as a platform focused on resolving issues of accessibility and usability faced by the blockchain industry, Crypto.com provides a variety of products including:

  • MCO Wallet and App
  • MCO Visa Card
  • Crypto.com Exchange
  • The Syndicate
  • Crypto Staking & Earn

MCO wallet and app

Identifying the difficulties of security and convenience issues associated with managing cryptocurrency on mobile devices, Crypto.com offers a virtual wallet app that puts these obstacles to rest. Launched in May 2018, the MCO Wallet app was developed to accelerate the adoption of cryptocurrency in the lives of users.

Similar to the Monzo banking app, the MCO Wallet app allows users to manage cryptocurrency purchases and accounts in a streamlined manner on mobile devices able to download the app.

Working in conjunction with the MCO Visa card, users have access to a variety of tools that are not limited to purchasing cryptocurrency. These include:

  • Notifying users of account balance.
  • Freezing missing MCO Visa Cards
  • Notify users of cryptocurrency price change.
  • Payment processing
  • CRO & MCO staking
  • Monthly reports on user spending and earnings
  • Interactive graphs

With the introduction of this app, customers have the ability to track and purchase cryptocurrency at its ‘true cost’ while on the go. Additionally, customers can deposit their crypto and earn up to 8% yearly interest on their money. Supporting seven fiat currencies and 53 cryptocurrencies, the MCO wallet app is on track to change the way crypto is used in everyday life.

MCO visa card

The MCO Visa card is a prepaid card designed to combine the features of credit and debit cards with those of cryptocurrencies. With cryptocurrency still not considered a viable form of payment in most businesses and establishments, it is often difficult for investors to make use of their digital currencies for everyday payments.

To deal with this issue, Crypto.com offers a card system that allows users to convert cryptocurrency into fiat money that can be spent. The card is accepted by any pay point that recognizes Visa cards, meaning customers can use this card in almost 40 million retailers around the world.

Authorizing free ATM withdrawals, the MCO Visa card has no annual fees and allows users to earn cash back on local and overseas spending. Additionally, Crypto.com offers a 100% purchase rebate for standard Spotify and Netflix subscription plans which can be considered useful during these times of lockdown.

Operating on a tiered system based on staking thresholds, customers are incentivized to accumulate MCO tokens for card customization options and further benefits.

MCO card tier list

crypto.com card - ratewise

 MCO Visa cards operate on a tier system based on staking criteria users must meet in order to gain access to a different card. This system operates as one of the main features to incentivize the use of MCO tokens on Crypto.com. Currently there are 5 tiers available to customers, these are:

Midnight Blue card

Considered the beginner-level MCO card, this card does not require the obligatory staking of MCO tokens to access. Aimed at becoming an entry-level debit card for customers, the Midnight Blue card still offers a 1 percent CRO cash back reward for card spending.

Using this card, customers have a no-fee monthly ATM withdrawal limit of $200 and a monthly exchange limit of $2000. Exceeding these limits, resulting in a 2% ATM withdrawal fee and a 0.5% interbank fee for exchanges.

  • The standard debit card offers a 1 percent card cashback and no mandatory MCO token stake.
    • Withdrawal Limit: 200USD
    • Exchange Limit: 2000USD
  • Pro: No stake fees.
  • Con: Customers using this card are not entitled to any rebate rewards or referral bonuses.

Ruby Steel card

To access this card tier, customers are required to stake 50 MCO tokens. Upon unlocking this tier, users get access to a new ruby steel card that offers a 2% CRO return for card spending.

Using this card, customers have a monthly no-fee ATM withdrawal limit of $400 and an exchange limit of $4000. While ATM withdrawal and interbank fees remain the same, users of the ruby card are entitled to wallet cashback rewards that amount to 0.2%.

  • The second-tier debit card offers a 2% card cashback and 50% off investment fees for a mandatory 50 MCO token stake.
    • Withdrawal Limit: 400 USD
    • Exchange Limit: 4000 USD
    • Referral Bonus: 10%
  • Pros:
    • 50% discount on investment fees
    • 100% purchase rebate for Spotify subscriptions linked to the account.
    • Referral bonus of up to 10% and additional $20 bonus for referring five additional users.
  • Con: No access to other price rebate rewards offered for higher tiers.

Jade Green/Royal Indigo card

To access this card tier, customers are required to stake 500 MCO tokens. Upon unlocking this tier, users have the choice of obtaining a jade green or royal indigo steel visa card.

Both cards have a 3% CRO return for card spending, a monthly no-fee ATM withdrawal limit of $800 and an exchange limit of $10,000. Additionally, users of tier three cards are entitled to wallet cashback rewards that amount to 0.4%.

  • The third-tier debit card offers a 3% card cashback, 50% off investment fees and access to LoungeKey airport lounges once a user manages to stake 500 MCO tokens.
    • Withdrawal Limit: 800 USD
    • Exchange Limit: 10,000 USD
    • Referral Bonus: 15%
  • Pros:
    • 50% discount fees
    • 100% purchase rebate for Spotify and Netflix subscriptions linked to account.
    • Access to use LoungeKey airport lounges.
    • Access to special shopping, dining and spa features, including partnerships with restaurants or bars.
    • Referral bonuses rise to 15% and additional $40 each for referring ten additional users.
  • Cons:
    • LoungeKey access only limited to cardholder.
    • No access to higher-tiered rewards.

Icy White/Frosted Rose Gold card

To access this card tier, customers are required to stake 5,000 MCO tokens. Upon unlocking this tier, users have the choice of obtaining an icy white or frosted rose gold steel visa card.

Both cards have a 4% CRO return for card spending, a monthly no-fee ATM withdrawal limit of $1000 and a $20,000 exchange limit. Additionally, users are entitled to a 0.8% return on wallet cashback rewards.

  • The fourth-tier debit card offers a 4% card cashback, 50% off investment fees and access to LoungeKey airport lounges for a mandatory 5000+ MCO token stake.
  • Referral Bonus: 20%
  • Pros:
    • Access to previous tier benefits
    • Lounge Key access for user plus one guest 100%
    • Exclusive Merchandise Welcome Pack
    • Earn Bonus Interest
    • 100% Amazon Prime rebate and 10% Expedia rebate
    • Referral bonus of 20% and an additional $80 each for referring 50 additional users.
  • Con: High stake price

Obsidian Black card

The highest tier available and the flagship of Crypto.com’s MCO card system. To access this tier, customers are required to stake no less than 50,000 MCO tokens.

With this card, customers have access to a 5% CRO return on card spending and a 1% return on wallet cashback rewards. While maintaining the same no-fee ATM withdrawal limit, Obsidian black users have no interbank exchange limits.

  • Pros:
    • Access to previous tier benefits
    • Private Jet Partnership
    • Access to Crypto.com Private
    • 10% rebate on Airbnb transactions
    • Referral bonus of 25% and additional $100 each for referring 100 additional users.
  • Con: High stake price.

Crypto.com Exchange

Launched in November 2019, Crypto.com Exchange is an on-site exchange platform available to all users Powered by CRO, Crypto.com Exchange is an easy-to-use trading platform that supports a variety of cryptocurrencies, including Bitcoin, Litecoin, MCO and CRO, and several altcoins.

With an aim to encourage trading, Crypto.com Exchange offers beneficial trading features such as:

  • The Vortex Liquidity System, which provides users with competitive cryptocurrency rates and access to a large global platform.
  • The ability to receive a 100% trading fee discount based on user trading volumes and CRO staking over a 30-day period.
  • An overhauled Matching Engine and Order Management System increases throughput rate by 1000%.
  • Access to a powerful risk engine with high leverage margin and derivatives trading

To ensure safety of the exchange platform, Crypto.com Exchange has a two-level verification system, Basic and Advanced.

  • Basic: This level of verification requests user information such as name, email, and phone number. Upon completion, users can freely use and access most of the features available.
  • Advanced: In the advanced version, users are required to submit documents of identification such as passports, bank statements and work slips. Upon verification, users have access to unlimited crypto.com deposits and a 100 BTC withdrawal limit.

MCO Crypto Investment Scheme

Arguably the perfect tool for newcomers, the Crypto Investment Scheme is designed to help new users get started and set up their cryptocurrency portfolios. Launched in 2018, the Crypto Investment Scheme was designed to simplify investments and automatize the trading of cryptocurrencies for new customers.

Despite the growing knowledge of cryptocurrency, many individuals have a considerably basic knowledge of what cryptocurrency is or how to acquire it. To address this issue, the investment scheme supports users in developing their own custom portfolios and understanding the importance of following market trends for better-informed decision making.

With a goal to reduce the risks associated with dealing with cryptocurrency, the Crypto Investment Scheme highlights 30 cryptocurrencies and several predefined portfolios based on user preference. These can include:

  • Growth portfolios suitable for users that want to focus on high growth rates at a high risk.
  • Balanced portfolios suitable for users that want moderate growth rates at a moderate risk level.
  • Conservative portfolios suitable for users that want growth rates at a minimal risk.

To support and advice users on how to manage their portfolios, the Crypto Investment Scheme offers long term investment strategy options, including:

  • Automated trading options that provide users with several strategies based on monitoring market trends and market sentiment.
  • Stablecoin monitoring options help users reduce risk and ease the risk management process.
  • Market following options involve monitoring the key assets in the market.

For the fee of 9% of the profit made by users, the Crypto Invest scheme provides users the necessary tools to thrive in the industry. Adopting this approach, Crypto.com has been able to maintain its large user base while contributing to the cryptocurrency economy.

Crypto Staking & Earn

CRO Staking

As mentioned previously, customers can stake MCO and CRO tokens for beneficial rewards. While MCO staking is more geared towards the MCO Visa Card tier system, CRO staking on Crypto Exchange offers greater benefits and access to additional Crypto.com features. These include:

  • CRO rebate when users pay trading fees with CRO.
  • 20% APR interest rate paid daily.
  • Access to “The Syndicate”
  • Access to “Crypto Earn”

CRO must be staked for 180 days and cannot be withdrawn until the stake period is over.

Crypto Earn

Powered by CRO staking, Crypto Earn is a feature that allows users to invest in over 20 different cryptocurrencies, including Bitcoin, Ethereum and Litecoin. Like a savings account, users can deposit their cryptocurrencies into Crypto Earn to begin accruing daily interest rates that will help their crypto assets grow over time.

Using this feature, customers can experience a 2-12% increase in asset value per year depending on which crypto they deposit, how many CRO tokens they stake, and the duration of the holding term they sign up for.

Holding TermNo Stake Interest Crypto (Stable Coin)CRO Stake Interest Crypto (Stable Coin)
3 months6% (10%)8% (12%)
1 month4% (8%)6% (10%)
Flexible2% (6%)4% (3%)

Users with access to Crypto.com Private get an additional 2% increase on crypto-asset investments.

Soft Staking

Like a freemium app, Crypto.com users can earn daily rewards by soft staking. Differing from CRO staking, soft staking offers more flexibility by rewarding users for their daily Exchange wallet balance with no commitment period required.

By holding purchased cryptocurrencies in their Crypto Exchange account, users can receive daily interest payments and other rewards from Crypto.com.

The Syndicate

The Syndicate is a platform for promising cryptocurrency projects that are close to listing their coins/tokens on Crypto.com Exchange. To participate in the Syndicate, users must:

  1. Successfully sign up as a Crypto.com Exchange user
  2. Stake at least 5,000 CRO tokens in the Crypto.com Exchange account
  3. Trade the minimum volume required at the CRO staked level in the past 30 days.
  4. Use RO to subscribe at a 50% discount during the subscription period.

Upon completion, CRO stakeholders will receive priority token allocation for Syndicate events at a discounted price. Syndicate project guidelines are as followed:

  • No listing fee charges for Projects.
  • Listing projects must provide their token at a 50% discount rate on Crypto Exchange.
  • All earnings made from sales are given to the Projects.
  • Projects can increase the utility of their coins. This can include:
    • The ability to spend using an MCO card.
    • Earning interest rates on their coin when used for Crypto Earn.
    • Using it as collateral for Crypto.com’s instant loans.

Access to the Syndicate remains a massive favorite for experienced traders who have been able to jump ahead of the curve with the purchase of new cryptocurrencies.

Crypto Private

Available to users who own an Obsidian Black or Icy White MCO card, Crypto.com Private is a set of crypto-related services and benefits available to certain users. These include:

  • Research
    • Crypto.com offers private members access to self-published research reports that highlight key monthly market trends and the promising new crypto ventures.
  • Inheritance Service
    • As the name implies, this feature allows users to add beneficiaries that would inherit their assets in the event of the holder’s death.
  • Top Industry Events

Obsidian black private members have access to top crypto industry events. In the event of ticket releases, Private members will receive a fast-track email to obtaining tickets.

Any other features?

  • Crypto.com Exchange: Using the CRO token, customers can trade major cryptocurrencies like Bitcoin for low fees and market accurate execution prices. This feature boasts a deep liquidity structure that makes use of a strong and robust risk engine with high leverage margins.
  • Crypto Credit: Providing an instant loan product that enables users to apply for credit they can use on their MCO Visa card. The presence of this tool allows users to get instant access to cash without needing to sell any of their cryptocurrency. This reduces the risk of users missing out on positive price movements. To access the Crypto Credit feature, users must stake MCO tokens. Staking 10,000 MCO tokens can give users access to $6000 worth of credit.
  • Crypto Earn: Putting your money straight to work, Crypto Earn is a feature that allows users to earn up to 18% interest p.a. on cryptocurrency deposits. Similar to a savings account, this is dependent on what cryptocurrency a user invests in and whether customers are willing to lock their assets for a predetermined period of lending.
  • Crypto.com Pay: Aimed at encouraging businesses and merchants to accept cryptocurrency payments in store. Businesses receive a 0% processing fee on all payments made using crypto and a 0.5% fee on fiat payments. Though this may seem insignificant, this is 80% cheaper than the fees usually charged by other mainstream payment processors.

Is it safe?

When it comes to safety, Crypto.com adopts a highly proactive standard of security philosophy. Described as “Defence in Depth”, this philosophy means that Crypto.com actively embeds a security growth culture into every aspect of their business processes.

To ensure this philosophy is met, Crypto.com has completed an external security test and threat modeling exercise conducted by the Kudelski Blockchain Security Centre.

Cryptocurrency Security

Like other cryptocurrency exchange platforms, Crypto.com makes use of a Cold Storage + Hot Wallet security infrastructure. Utilizing this structure, 100% of user cryptocurrencies are held offline in cold storage to prevent any loss of funds. In the event of funds being lost, Crypto.com uses a cold wallet insurance fund to ensure losses will be reimbursed.

Hot wallets are used to store corporate funds, leverage hardware security modules and multi-signature key-generation technologies. These funds are used to deal with withdrawal requests made by customers.

Currently Crypto.com’s insurance policy totals to $360M, including direct and indirect coverage via custodians. Doing this significantly expands the security protection Crypto.com offers to its growing user base.

Fiat Currency Security

Crypto.com uses secured and regularly regulated custodian bank accounts for fiat money storage. Placing fiat currency in these bank accounts ensures that fiat funds are insured and that users maintain ownership of the currencies in bank accounts, i.e., user funds could not be claimed by Crypto.com or its creditors.

Crypto.com Infrastructure Security

To maintain infrastructure security, Crypto.com uses Amazon’s Web Service (AWS) and the security capabilities associated with it. This provides Crypto.com access to:

  • Firewall capabilities for network and web applications
  • A secure data encryption service that works in transit with Transport Layer Security
  • Business back-up guides in the event of outages and cyber attacks 

Wallet App Security

Given the ease it takes to steal a mobile phone, Crypto.com offers security features designed to ensure user accounts remain safe. These features include:

  • Access to facial and thumbprint login options for compatible mobile phones
  • A secure coding system that is regularly reviewed using a combination of static source code analysis tools and full-time staff who oversee the quality of the code.
  • A Two-Factor Authentication (2FA) system via Google 2FA that users must complete before they can begin trading.
  • Withdrawal Protection

Crypto.com Customer Support

To address any customer concerns, Crypto.com offers a 24/7 live support service that customers can access via the web or mobile app. Additionally, Crypto.com houses a help centre feature that offers answers to frequently asked questions.

How is Crypto.com regulated?

Crypto.com are required to adhere to strict ‘Know Your Customer’ (KYC) rules which ensures that the exchange platform remains compliant to certain policies and regulations. These policies and regulations prevent Crypto.com from being used anonymously as users are required to provide personal information to get access to features. Operating in over 80 countries, Crypto.com is required to gain regulatory approval in multiple regions to legally function.

Recently, Crypto.com acquired the regulatory approval of the Maltese government, granting them in-principle two financial licenses: a Financial Institution License and a Class 3 VFA License.  A Financial Institution License allows Crypto.com to offer its MCO visa payment services to users in Malta.

While the Class 3 VFA License would allow Crypto.com to provide cryptocurrency investment services, custody, and trading services to professional and non-professional investors. The acquisition of these licenses would serve to further increase the global acceptance of cryptocurrency as a viable source of investment and payment.

Internally, Crypto.com makes use of dedicated compliance and risk management functions to ensure operations follow regulatory guidelines. One of these functions is the use of designated compliance & risk management officers who implement compliance policies and procedures.

Regularly performing internal reviews, these officers ensure that Crypto.com is in full compliance with all regulatory requirements. Moreover, the use of fraud and anti-money laundering (AML) experts to manage risks provides Crypto.com with the necessary tools and processes to minimize fraudulent activity. These include:

Deposit Checks

Crypto.com frequently screens all fiat deposits for KYC/AML/ATF compliance, and have a dedicated team to monitor all transactions.

Withdrawal Controls

Crypto.com regularly screens withdrawal requests for suspicious transaction amounts and velocity to prevent fraud.

Transaction Screening

Any transactions that exceed a certain amount threshold requires manual approval by the Crypto.com operations team. Additionally, industry-leading AI & analytics tools are used to screen all fiat and crypto transactions.

Fund Access Control

Crypto.com adheres to the principle of least-privilege with strict controls on access rights to funds (cold and hot wallets).

What countries support Crypto.com?

To achieve its goal of promoting cryptocurrency use to the world, Crypto.com has prioritised the global accessibility of its services. Available in over 80 countries, Crypto.com strives to reach a point in which customers can access its services regardless of the country they are from.

Currently, the countries that have access to Crypto.com are:

ArgentinaAustriaAustralia
BahrainBarbadosBelgium
BermudaBrazilBritish Virgin Islands
BulgariaCanadaCayman Islands
ChileColombiaCosta Rica
CroatiaCyprusCzech Republic
DenmarkDominican RepublicEgypt
El SalvadorEstoniaFiji
FinlandFranceGermany
GibraltarGreeceGuatemala
HondurasHong KongHungary
IcelandIndiaIndonesia
IrelandIsraelItaly
JapanJordanKenya
South KoreaKuwaitLatvia
LiechtensteinLithuaniaLuxembourg
MaltaMalaysiaMexico
NetherlandsNew ZealandNigeria
NorwayOmanParaguay
PeruPhilippinesPoland
PortugalQatarRomania
Russian FederationSaint Kitts and NevisSaudi Arabia
SerbiaSingaporeSlovakia
SloveniaSouth AfricaSpain
SwedenSwitzerlandTaiwan
ThailandTurkeyUnited Arab Emirates
United KingdomUruguayUkraine
VietnamVirgin Islands, USA 

How to open an account

Due to the hustle and bustle of everyday life, Crypto.com offers a website and app service that allows users to set up a free account in under 5 minutes. The app is available on every mobile device meaning users can start trading on the go the moment they sign up. To open an account, simply:

  1. Download the Crypto.com app or visit crypto.com/exchange and click the Sign-Up button.
  2. Enter your name, email, date of birth and country of residence.
  3. Check your inbox for an email verification containing a one-time password.
  4. Enter OTP on the exchange website or app.
  5. Create your password and click Submit.
  6. Enter your phone number to receive an SMS verification code from Crypto.com.
  7. Input the verification code into the field and click submit.

Embrace your time as an official Crypto.com user member.

The Pros and Cons of Crypto.com

Pros

  1. User-friendly platform
  2. Offers a variety of different cryptocurrencies and a broad range of crypto pairings to trade.
  3. Crypto.com offers a variety of features that allow users to make the most of cryptocurrency in the virtual and real-world landscape.
  4. Supports deposits with cryptocurrency and fiat money via the Crypto.com app
  5. MCO Visa card system makes the use of cryptocurrency as a payment method more feasible.
  6. Cryptocurrency insurance of $360m
  7. Strong security philosophy across entire Crypto.com structure
  8. Crypto Investment Scheme for new traders
  9. Access to The Syndicate
  10. Cryptocurrency at priced at their “trust” cost, allowing for competitive rates.

Cons

  1. The presence of KYC compliance means that traders seeking anonymity cannot use Crypto.com.
  2. The need to stake CRO or MCO tokens to get the most out of the MCO rewards system and access to certain features.
  3. Due to its recent development and growth, Crypto.com has a rather short track record.
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Summary

Overall, Crypto.com is an excellent platform for those interested in joining the cryptocurrency market. An ambitious organisation with a variety of offerings, Crypto.com is helping to promote the feasibility of cryptocurrency in a hesitant year of stock market turmoil and it’s safe to say people are turning heads.

For beginners, this platform can act as the basis for their learning and understanding of the complex world of cryptocurrency. For experienced investors, Crypto.com provides them with the tools to better fine tune their portfolios and identify hidden crypto gems that could be the next big thing.

Regardless, be on the lookout for this great app as we enter a new decade that is likely to be filled with technological advancements.

Use our exclusive Crypto.com referral code [ 94gjag23xh ] and receive a free sign up bonus worth up to $75 USD in CRO token.

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FAQs about Crypto.com

How can I get better at personal finance?

To get better at personal finance you should quantify your money habits by tracking your spending and income.

Next, make a goal for yourself to better your savings rate or start investing. Commit to your goal and check in with yourself each month to make sure you are on track. Try to keep your spending within your budget to keep it sustainable.

What is the best way to manage money?

The best way to manage your money is to see it as a tool to help you through life. Take a look at your finances and see where your weaknesses or vulnerabilities may lie.

Then set goals to get your finances back on track to where you want them to be. Budgeting will be how you achieve those goals and some of your goals may be saving for retirement, establishing an emergency fund, or paying off debt.

Check in with yourself to make sure you are on track to accomplish your goals.

How much should I have in savings?

It’s a good idea to have three to six months’ worth of expenses saved in case of emergencies. For example, if your monthly spending is usually around $5,000 try to keep your savings account balance above $30,000.

Once you have your emergency fund full, you can use your savings as a place to build up funds for big purchases like a house or car down payment.

How much money should I save each month?

Usually, it is recommended that you save at least 20% of your income each month. If you can stick to this, you’ll have a nest egg for emergencies or down payments on any large purchases to keep borrowing at a minimum and your interest rates low.

How much is too much in savings?

You should try to have three to six months’ worth of your average living expenses, including rent, utilities, food etc. saved in case of emergencies.

Any more savings that might be useful for a down payment on a home or car. If you don’t foresee any large purchase in your future, then you should allocate that extra money into something that gains a bit more interest than your savings account might, for example, invest in a stock portfolio.

December 22, 2020
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