Crypto.com Review: Scam & Fake or not?

Crypto.com is a well-known crypto exchange, also offering several other products such as staking, loans, nfts and a crypto card.

But is Crypto.com a scam?

No, it is not: According to our experience and review, Crypto.com is a safe crypto exchange.

Tell us about your experience with Crypto.com and share your comment below this review.

Key Takeaways

• Crypto.com is safe because it offers a service licensed by multiple financial institutions in different countries and continents. Furthermore, the exchange employs advanced safety features like 2FA, KYC, Cold Storage, and $750 million insurance
• While using Crypto.com, you can receive benefits like a discount on lower crypto trading fees and other rewards by staking the native cryptocurrency called CRO. Additionally, the exchange offers hundreds of cryptocurrencies, multiple trading options, and sign-up bonuses
• Continue reading our Crypto.com review to learn every pro and con of the service. Find out for yourself why this exchange is safe, reliable, and worthy

About the Company

Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo first registered this exchange as “Monaco” in Hong Kong, 2016. Then, the service became Crypto.com when the founders bought the domain from cryptography researcher Matt Blaze, who had owned the rights to the domain since 1993.

The parent company of Crypto.com is Foris DAX Asia, with headquarters in Singapore. Through the years, the company has reported an influx of 10 million users in 2021, over 50 million users in 2022, and 80 million users in 2023 trading with the cryptocurrencies available.

With over 80 million users at the start of 2024, the current daily trading volume is $1,824,659,394.

While Crypto.com has broken many milestones, there have also been some rocks along the way. The exchange suffered a $33.7 million hack, later claiming that customers didn’t lose their funds. That same year, reports indicated that Crypto.com had laid off at least 2,000 employees.

Despite controversies, the company has recovered and is one of the top exchanges in the world to this day. It has partnered with the LeBron James Family Foundation and the Philadelphia 76ers and sponsored the 2022 FIFA World Cup.

Safety and Regulation

Crypto.com operates under licenses from regulatory institutions established in different countries.

In Asia, the exchange received licensing from the Monetary Authority of Singapore to provide digital payment services. Additionally, Crypto.com became a regulated financial services provider in South Korea after acquiring two startups called PnLink Co., Ltd and OK-BIT Co., Ltd.

The exchange also received approval to operate in the United Kingdom from the Financial Conduct Authority, which labels Crypto.com as a crypto asset service provider.

Then, the French authorities and the Cyprus Securities and Exchange Commission approved the service in their respective countries.

Advanced technology is another reason to back the safety of this exchange.

Currently, Crypto.com employs Know Your Customer (KYC) policies and Two-Factor Authentication (2FA) to ensure account protection. Regarding asset protection, Crypto.com offers a Cold Storage service to secure your funds offline and safe from attacks.

Also, Crypto.com announced in 2021 that the exchange increased its insurance fund to $750 million to cover and protect digital assets.

Countries Accepted

The services and products offered by Crypto.com are available in many countries. However, some other countries don’t allow their citizens to access and use this exchange. Let’s take a look at a list of countries and see if the exchange is available or not.

• Australia — Sign-up is available
• Canada — Sign-up is available
• Ghana — Sign-up is not available
• Hong Kong — Sign-up is available
• India — Sign-up is available
• Ireland — Sign-up is available
• Kenya — Sign-up is available
• New Zealand — Sign-up is available
• Nigeria — Sign-up is available
• Pakistan — Sign-up is not available
• Philippines — Sign-up is available
• Singapore — Sign-up is available
• South Africa — Sign-up is available
• United Kingdom — Sign-up is available
• United States — Sign-up is available (except in New York)

If you live in a restricted country, you could face issues while verifying your account or withdrawing funds. For this reason, we heavily recommend if your jurisdiction allows the use of this type of service.

Trading Offer

Crypto.com has more than 250 coins, which you can use in spot trading, staking, and other services or products.

This list includes all the popular ones, such as Bitcoin, Ethereum, Litecoin, and Dash, to name a few. Also, Crypto.com supports meme coins like DOGE, allowing you to stay updated with current trends and rising tokens.

Trading pairs are equally thriving on Crypto.com, with more than 500 trading pairs available. For example —

• ETH/USDT
• BTC/USDT
• ETH/BTC
• SOL/USDT
• CRO/USDT
• ADA/USDT
• XRP/USDT
• LTC/USDT
• ATOM/BTC

Even better, Crypto.com also offers an exclusive cryptocurrency called Cronos (CRO). This cryptocurrency has lost value over the years, but holding CRO gives you access to other benefits. For instance, you receive rewards and lower trading fees on crypto.com by staking or using CRO cryptocurrency.

Trading Types

The Crypto.com platform offers diverse trading options, like spot trading, margin trading, and OTC trading. Since spot trading and margin trading are the most popular, we’ll explain these two to understand how they can benefit you.

• Spot Trading
• Margin Trading
• OTC Trading

Spot Trading

With spot trading, Crypto.com allows you to benefit from the current price of a token. This type of trading consists of buying or selling your digital assets at the current market price, a simpler and faster method to earn profit.

Margin Trading

By partaking in margin trading, Crypto.com offers the opportunity to complete trades using borrowed funds. This type of trading uses leverage, a unique perk compared to spot trading. With margin trading, you can amplify profit in the long term.

Trading Software

Using the Crypto.com trading software feels intuitive and presents fantastic opportunities to complete different operations.

By using this software, you can stay updated with the market, analyzing the price of each cryptocurrency and identifying selling opportunities. This is fantastic when you employ trading strategies that require timely purchases or sales.

The TradingView charts provide other tools beneficial to creating an automated trading strategy. These tools include order placement, including Market, Limit, and Stop Limit or Stop Loss.

Other Products

Crypto.com boasts a range of products that allow you to use your funds wisely and earn rewards while trading. These are the products to consider —

• Crypto.com App
• Metal VISA Cards
• Staking
• Crypto.com Pay
• Rewards+
• Crypto Earn
• Defi Wallet
• Crypto.com NFTs

Crypto.com App

Use the app to buy or sell crypto quickly, whether at home or on the road. The app provides many trading tools that you can use to evaluate market prices and decide the best outcome for your trading style.

Metal VISA Cards

This product allows you to spend your Crypto.com funds using a payment card. Furthermore, this card provides a 5% back on all your spending, meaning you get to save some money as well.

Staking

Crypto.com offers staking, which is even more beneficial if you stake the native cryptocurrency CRO. However, the product is available with other of the platform’s coins if you prefer or must use other crypto.

Fees

At Crypto.com, you can expect a conventional fee structure based on the maker and taker figures. The exchange calculates these fees by a 30-day trading volume, which lowers the trading fees depending on how much you trade.

Still, what we liked the most about Crypto.com is that it allows you to reduce the fees even more by staking CRO. When you hold a certain amount of CRO, Crypto.com rewards you with a fee rebate in CRO cryptocurrency. These benefits consist of an annual percentage rate with an interest of up to 8% paid every day.

Deposits on Crypto.com are free of fees, while the withdrawal fee varies depending on the currency. For instance, withdrawal fees may require you to pay 0.0006 BTC, 0.000035 ETH, 6 DOGE, and 0.5 ADA, to name a few of the most popular cryptos.

While the exchange’s trading fees are not the lowest, they’re still competitive.

Payment Methods for Deposits and Withdrawals

Crypto.com accepts payments made through a variety of methods, such as the following —

• VISA Debit or Credit Card
• MasterCard
• American Express
• JCB
• Discover
• Diners Club

The minimum deposit amount is $20, and the processing time varies depending on the payment method. For example, FIAT currencies can take up to 3 business days, whereas crypto deposits using Crypto.com Pay get processed in minutes.

Similarly, the minimum withdrawal amount will also depend on the payment method. Withdrawals through ACH Push demand a minimum of $100, or 0.0012 BTC if you withdraw Bitcoin. FIAT withdrawals take 1 to 3 days, whereas crypto withdrawals are instantaneous.

Mobile app

Crypto.com offers a mobile app with ease of use features. This app is available for Android and iOS devices, allowing remote management of your assets, whether at home or on the road.

The app is easy to use and facilitates actions like buying or selling crypto. However, the most advanced features like margin trading, API, and bots are inaccessible using the mobile application.

Registration and Verification

Crypto.com offers a friendly interface to create an account in just a few minutes. While creating an account on the desktop or mobile version, the exchange will require standard personal information and phone number verification. Here’s what you need to do —

• Go to Crypto.com and click on Sign-Up
• Provide your name, date of birth, country, email, and password
• Make sure to enter a referral code to earn a reward
• Check your email and submit the verification code
• Create a password
• Enter your phone number for SMS verification

Now you have an account, but you still need to complete verification. Verifying your crypto.com account is necessary to comply with KYC policies and use functions like buying or selling crypto, lockup CRO, requesting a VISA card, and accessing Crypto Earn and Pay.

For KYC verification, you need an ID document issued by the government and a selfie holding said document.

Completing this process is fast, but the verification can take up to three days. If the exchange hasn’t verified your account after 72 hours, you must submit a ticket requesting assistance.

Unfortunately, Crypto.com doesn’t offer a demo account feature. You can’t practice or test trading strategies unless you’re ready to invest your money.

Bonus for New Customers

Crypto.com offers a Sign-Up Bonus of $10 and $50 that you can claim using a referral code while creating an account. You receive this bonus in CRO cryptocurrency, and the conditions are as follows —

• Lockup from 1,000 to 4,999 CRO to receive $10
• Lockup 5,000 or more CRO to receive $50

As you can see, the bonus depends on investing in Crypto.com’s native token.

Customer Support and Languages

There’s a page dedicated to customer support called Help Page at Crypto.com. On this page, you’ll find multiple channels to contact for support. You can either send an email or use the live chat feature, but phone support is unavailable at the moment.

Customer support works well, but it has some flaws. For example, people have complained that the team takes a considerable amount of time to respond. This is true, but not always. Therefore, it depends from case to case.

Conclusion

Crypto.com stands as a long-lasting and relevant cryptocurrency exchange platform to this day.

With millions of users worldwide, this crypto platform hosts all types of investors looking to multiply their digital asset collection. Whether you’re a beginner or an experienced trader, Crypto.com offers the tools for short and long-term profit.

Share your thoughts and your experience using the Crypto.com exchange in the comment section. We would love to know how the exchange works out for you!

Frequently Asked Questions

The following are some of the most common questions about Crypto.com and its service.

Is Crypto.com safe and secure?

Yes, Crypto.com is a safe and secure cryptocurrency exchange. The service has proper regulations and offers diverse safety measures to protect your account, like 2FA and KYC. Check out the Safety and Regulation section for more details.

How long does the verification take with Crypto.com?

Verifying your account on Crypto.com can take up to three days. If 72 hours pass and you’re still waiting for verification approval, submit a ticket to request assistance. Find out more details about this process in the Registration and Verification section.

How can I deposit money at Crypto.com?

You can deposit money on Crypto.com using VISA, MasterCard, or American Express, among other payment processors. Learn more about the minimum deposit amount and estimated deposit times by reading the Payment Methods for Deposits and Withdrawals section.

How long does it take to withdraw money at Crypto.com?

Withdrawing your crypto holdings from Crypto.com is instantaneous, but FIAT withdrawals can take up to three days. It ultimately depends on the withdrawal method. Check out the Payment Methods for Deposits and Withdrawals section for more information.

How does Crypto.com work?

Crypto.com works by offering a range of trading options, such as spot and margin trading. Likewise, a variety of products like Rewards+ and Metal VISA Cards are available to manage your funds. Learn more about this topic in the Trading Types and Other Products section.

Allan Garland

I'm part of the crypto space since 2013 and I strongly believe in it. But I also know how it feels to get scammed and to realize financial losses. With my website Cryptoscam.info I want to support you to stay safe and to give you a platform to share your experiences.