Crypto.com Review 2022: A Definitive Guide
Best for Easy Mobile Trading
Crypto.com Review 2022: A Definitive Guide
Trading Fees
Deposit Fees
Withdrawal Fees
Listed Cryptocurrency/ Digital Assets
Supported Fiat Currencies
Over the past five years, crypto has gained popularity while increasing value. It has become a popular investment asset for most investors across the globe. Crypto is highly volatile, making it a significant investment asset since it offers excellent returns.
One of the easiest ways to invest in cryptocurrencies is through cryptocurrency exchanges. Crypto.com is one of the most prominent players in the crypto world and makes crypto accessible to almost any investor.
All details
Key Features
- Crypto.com App – Has over 100 cryptocurrencies at actual cost and allows users to pay for their daily purchases with crypto.
- Crypto Earn – Deposit crypto on the platform and earn up to 8% and 14% for stable coins, paid weekly to your account.
- Crypto.com Exchange – Allows users to trade cryptocurrencies with deep liquidity with the best execution prices and the lowest maker and taker fees in the markets. You can also earn up to a USD 2,000 referral bonus when you refer a friend and a 50% commission on the trading fees for a year.
- Crypto.com NFT– Here, users can access an exclusive NFT collection from A-list artists. The platform allows users to buy NFTs using their credit and debit cards and sell collectibles on the marketplace, where bidding starts as low as USD 0.
- DeFi Swap – This is a fork of Uniswap V2 that allows users to swap and farm DeFi coins at the best value. Users can also connect to and safely store their crypto in the Crypto.com DeFi Wallet.
- Supercharger – Crypto.com Exchange and App users can deposit CRO tokens into the Supercharge pool and earn popular DeFi token rewards. This reward allocation is calculated daily during the changing period and is based on the liquidity of the users.
- DeFi Earn – Users receive the best returns by depositing their tokens into the protocol of the highest APY while depositing their assets. DeFi Earn is integrated with Compound, Aave Lending V2, and Cosmos Staking. Yearn Earn V2 and native CRO Staking.
Pros & Cons
Pros
1. The platform also has very smooth mobile app interfaces that are easy to use. Most investors who use the platform praise it for being the most user-friendly app to trade with.
2. It offers excellent staking crypto such as CRO token rates, since the platform has a staking program which means that you can buy and hold the native Crypto.com CRO token on your crypto.com wallet for six months.
3. It offers its prepaid debit card that has five different tiers. The various cards have their benefits and earn rewards in rebates and cash backs in CRO. Users must stake a specific number of CRO tokens with these cards for 180 days.
4. It also supports more than 250 currencies with spot trading, futures, and other advanced orders, as well as supports most crypto trading activities, including swapping, staking, and trading.
5. It provides competitive fees of up to 0.40% and discounts.
Cons
1. When compared to other crypto exchanges, Crypto.com has very high trading fees and higher withdrawal fees when compared to other platforms.
2. Many users have reported having problems while trying to make deposits to their crypto.com wallets. You will need a third party to deposit your accounts, such as IBAN and Xfers, successfully.
3. Many users have done reviews stating that Crypto.com’s customer support is very divided. Some users have complained that it took hours and others took days to respond to their questions.
4. The discount tiers on the platform can be pretty confusing to navigate for most users.
General Information
Other Fees and Charges
Crypto.com offers an affordable way to trade crypto. Here is an overview of the fees you might charge on the platform.
Withdrawal and Deposit Fees:
Transaction | Fee |
ACH transfer | Free (minimum $20) |
Wire transfer | Free (minimum $5,000) |
Debit/credit card crypto purchases | Up to 4% (waived for the first 30 days on the Crypto.com app) |
Purchase crypto with money you’ve deposited | Free |
Send crypto to other Crypto.com App users | Free |
Exchange crypto to crypto | Free |
Crypto deposit fees | Free |
Crypto withdrawal fees | Depends on the currency. (For example, it costs 0.0001 BTC to withdraw Bitcoin and as little as 0.001 CRO to withdraw Cronos.) |
Crypto.com Exchange charges a standard fee for crypto withdrawals, and there are no fees for cryptocurrency deposits.
Maker/Take Fees:
30 Day Trading Volume (USD) | Maker | Taker |
$0 – $250,000 | 0.40% | 0.40% |
$25,001 – $50,000 | 0.35% | 0.35% |
$50,001 – $100,000 | 0.15% | 0.25% |
$100,001 – $250,000 | 0.1% | 0.16% |
$250,001 – $1,000,000 | 0.09% | 0.15% |
$1,000,001 – $20,000,000 | 0.08% | 0.14% |
$20,000,001 – $100,000,000 | 0.07% | 0.13% |
$100,000,001 – $200,000,000 | 0.06% | 0.12% |
$200,000,001 and above | 0.04% | 0.10% |
Crypto.com DeFi Swap Fees:
DeFi Swap allows you to connect your personal Ethereum wallet for simple, effortless ERC-20 token swaps. They pay 0.3% fees to the liquidity providers to support the running of the smart contracts. You can also connect your Crypto.com DeFi wallet to DeFi Swap, but you will have to pay gas fees.
You get to choose between the average, fast, and super-fast transaction confirmation speeds, representing different transaction fees.
How does Crypto.Com compare with other Cryptocurrency Trading Platforms in Singapore?
Cryptocurrency exchange | Number of listed cryptocurrencies | Trading Fees |
250++ | 0.4% | |
18 | 0.075% | |
300++ | 0.1% | |
170++ | 0.2% | |
400++ | 0.2% | |
100++ | 0.9% to 1.5% | |
70 | 0.9% | |
100+ | 0.6% | |
27 | 0.5% | |
100++ | 0.2% | |
6 | 0.75% | |
12 | 1% |
Creating an Account
Here are the steps to follow if you want to open a Crypto.com account in Singapore:
- The first step is to launch the Crypto.com website and download the Crypto.com app on your phone from the Google Play Store or Apple Store.
- After downloading your Crypto.com app on your phone, you will be prompted to create a Crypto.com account using your email address. Once done, you will be prompted to scan your NRIC or passport and ten your face with your mobile phone for the KYC verification process (Know Your Customer).
- The verification process can take a few days, and they will prompt you once they are done with the process. If not, you will be prompted to resubmit your documents.
- Once you receive the verification email, you can now fund your Crypto.com account through Xfers, credit card, bank transfer, or stat purchasing coins.
You can easily fund your Crypto.com account using either of the following ways. They include:
- Deposit Cryptocurrency
If you already have cryptocurrency in another exchange or another crypto wallet, you can quickly deposit them in your Crypto.com app. It is important to note that only 123 crypto coins are supported on the platform, and five are not supported in Singapore.
All you need to do is launch your Crypto.com app, tap on ‘Transfer,” Deposit,’ and then ‘Crypto.’ You will then find your Crypto.com deposit address which you will copy and paste on the other crypto wallet and immediately start the transfer process.
- Deposit Singapore Dollars via Xfers
You will need to use Xfers to deposit Singapore dollars to your Crypto.com account. You will need an Xfers account which you must first create from their websites and complete the Know Your Customer (KYC) verification process. After that, you will need to launch your Crypto.com app, then click on the “Settings” icon on the top left-hand corner, followed by the “Xfers Account.”
- Deposit SGD via EUR IBAN
To deposit funds via EUR IBAN, you will need to use some international money transfer services such as DBS Remit, InstaReM, or Wise, where you will add your Crypto.com app wallet as a new recipient.
- Deposit USDC from Your Bank Account via Bank Transfer
You can also fund your account using USDC by transferring from your bank account in USDC. To use this option, you will need first to launch your Crypto.com app and tap on ‘Fiat Wallet,” followed by the “USDC Bank Transfer.” After that, you will be prompted to submit your bank statement with your Singapore residential address for confirmation
This process takes a couple of days to get verified.
Disclaimer: This information may differ from what you see when you visit other financial service websites or the product’s official site, but Loan Advisor continues to keep every detail updated and accurate. This site may be compensated through third-party advertisers. However, the results of our comparison tools which are not marked as sponsored will always be based on objective analysis.
Crypto.Com – Our Verdict
Crypto.com is an excellent crypto exchange platform to use when trading crypto. It is great for anyone who wants to trade cryptocurrencies, make crypto payments, or store or save their cryptocurrency, especially the platform’s utility token Cronos (CRO tokens).
Final Thoughts
Crypto.com exchange is one of the largest and one of the best crypto exchanges in Singapore that offer a wide range of blockchain-related products and cryptocurrency assets. The platform has an extensive list of supported fiat currencies and cryptocurrencies that you can trade in. it also has transparent and competitive fees with discounts. Crypto.com exchange has an easy-to-use interface that is ideal for both seasoned and beginner investors.
Key Takeaways
- Crypto.com exchange has low fees and a huge list of supported cryptocurrencies.
- The platform is excellent for users who prefer trading via a mobile app.
- It is ideal for people with intermediary knowledge in trading since they do not have excellent customer service.
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FAQs
Is Crypto.Com Legal in Singapore?
Both the exchange platform is legal in Singapore. However, it is essential to note that trading cryptocurrency in Singapore is legal by cryptocurrencies are not recognized as a legal tender. This means that you cannot use any currencies to pay for goods and services or even pay for debts.
In Which Countries can Crypto.com be found?
Crypto.com is available worldwide, but it is delivered in Visa Card to US residents and residents of the following countries in Europe:
- Austria
- Belgium
- Bulgaria
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Germany
- Greece
- Hungary
- Iceland
- Ireland
- Italy
- Latvia
- Lithuania
- Luxembourg
- Malta
- Netherlands
- Norway
- Poland
- Portugal
- Romania
- Slovakia
- Slovenia
- Spain
- Sweden
- Switzerland
- UK
What Fiat Currencies are Supported?
Users can use the fiat currency on crypto.com for recurring buying, crypto purchases, and crypto.com Visa Card top-up. You can also use your fiat wallet to sell crypto to fiat and withdraw fiat to your bank accounts.
Here is a list of the fiat currencies the Crypto.com supports:
Name | Abbreviation |
AUD | Australian Dollar |
CAD | Canadian Dollar |
EUR | Euros |
GBP | Pound Sterling |
USD | US Dollar |
USDC | USD Coin |
BRL | Brazilian Real |
SGD | Singapore Dollar |
What Cryptocurrencies are Available on Crypto.Com?
Crypto.com offers more than 250crypto currencies for spot trading with some subset supported for staking. The platform has too many coins to list, but you can always be sure that you will be able to sell and buy most of the popularly traded currencies.
Here is a list of all the assets available on Crypto.com. Some of the most popular investments available on the platform include:
Name | Abbreviations |
Bitcoin | BTC |
Ethereum | ETH |
Cardano | ADA |
Dogecoin | DOGE |
Basic Attention Token | BAT |
Polkadot | DOT |
Customer Top Reviews
