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Crypto.com Review: Pros and Cons. Is Crypto.com safe?

Are you interested in cryptocurrencies and looking for an honest, in-depth Crypto.com review? We give you our transparent take in this guide.

  • Crypto.com
  • Dean Fankhauser
    By
  • Posted
  • Bitcompare score
  • Go to siteCrypto.com

Our take

4.0
Bitcompare score

Crypto.com Review

With the emergence of decentralized currencies online and the establishment of blockchain technology, global economies remain in the midst of a fascinating shakeup. By 2025, the blockchain technology market will reach upwards of $40 billion

What's more, the Bitcoin blockchain has enjoyed immense growth since its advent, having reached approximately 270 GB as of March 2020. As the demand for cryptos continues to skyrocket, so will the introduction of new companies into the industry. 

More choices make finding the best cryptocurrency exchange site a challenging proposition. While having such a wide selection proves exciting, comparing so many platforms and exchanges often leads to decision paralysis. 

To make the right choice clearer, let's do an in-depth review one of the industry's most widely recognized names: Crypto.com

Crypto.com: A Top-Rated Cryptocurrency Platform 

According to its website, Crypto.com is a top-ranked crypto platform that permits users to buy, transfer, store, and exchange more than 90 cryptocurrencies. 

These include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), CRO etc. You can also use more than 20 fiat currencies (e.g., GBP, USD, EUR, etc.) on the site.

The company offers a versatile debit card, permitting consumers to spend cryptocurrency anywhere that Visa gets accepted worldwide. What's more, users enjoy a whopping eight percent in cashback rewards with Crypto.com's CRO tokens.

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A Brief History of Crypto.com

Founded in June 2016, Crypto.com has four co-founders:

  • Kris Marszalek, CEO
  • Rafael Melo, CFO
  • Gary Or, CTO
  • Bobby Bao, Head of Corporate Development

In 2017, the company raised $26.7 million during their initial coin offering (ICO) of Monaco. At this time, Crypto.com remained relatively unknown as Monaco (MCO), but they rebranded in July 2018 after the pricey acquisition of the domain Crypto.com. 

Today, this company headquartered in Hong Kong employs more than 700 individuals worldwide. They currently boast more than five million users globally, a growth of three million users in just a handful of months.  

Are you ready to learn more? Check out our page dedicated to Crypto.com.

Watch our YouTube Review

Crypto.com MCO Visa Card

Before we delve into some of the other features consumers enjoy when using Crypto.com, let's take a look at its most popular product, the MCO Visa card. This card permits you to spend your cryptocurrency online and in-store and earn rewards with their CRO cryptocurrency.

It comes with a high level of convenience because you can use it anywhere the Visa logo gets accepted. In other words, more than 54 million stores and businesses worldwide accept it. So do ATMs globally, making it ideal for travelers, too.

What if you decide to open a crypto account through Crypto.com? You'll need to choose between a range of different Crypto.com Visas.

If you'd like to gain access to multiple benefits while getting the highest cashback possible, you'll need to stake CRO in the Crypto.com app on your card of choice. These cards provide you with competitive cashback on all spending. 

Crypto.com Card

The Obsidian Black MCO Visa Card

The more CRO you lock up, the higher the tier of card you may access. The Obsidian Black card occupies the highest rung on the Crypto.com Visa ladder. It comes with a mostly untenable pre-qualification requirement.

What's this qualification? You'll have to lock up approximately $416,228 (£297,000) worth of Crypto.com Coin (CRO) via the company's app before attaining this coveted card. Fortunately, the company also offers many cards at lower CRO stakes.

The Ruby Steel MCO Visa Card

For example, you can access the Ruby Steel version of the card by staking 5000 CRO, which equates to approximately $420 (£300). With the Ruby Steel, you'll enjoy two percent cash back and a Spotify rebate of 100 percent.

The Midnight Blue MCO Visa Card

There's even the Midnight Blue version of the card, which provides you with one percent cashback on all spending. A relatively good cashback rate, you don't have to stake anything at all to benefit from it.  

What's more, after six months, Crypto.com permits users to withdraw the CRO they staked. But know in advance that when you stop staking, your cashback rate will decrease. You'll also lose access to some benefits of the card at your initial staking level.

Where You Can Get a Crypto.com Debit Card

The nations where cards currently get shipped include: 

  • The United States
  • Canada
  • The United Kingdom
  • The European Union
  • Singapore

What if you're from a nation where the card currently isn't available? Download the Crypto.com app and get registered. Then head to the "Card" section, where you can register your interest and receive notifications when it comes to your geographic location.

MCO Visa Card Fees

Apart from paying staking fees to get started with the MCO Visa, you'll receive your Crypto.com Visa card for free. You'll also enjoy fee-free deposits to your Crypto.com Visa card.

You won't face any domestic transaction fees, either. And you'll enjoy the interbank exchange rate if you buy something with your Visa card in another currency. That said, a monthly limit does apply to all transactions. 

This limit comes to 0.5 percent if you go over your limit. Fortunately, this is a highly competitive rate. 

These limits include:

  • Maximum card balance: $25,000
  • Daily top-up limit: $10,000
  • Weekly top-up limit: $25,000
  • Daily ATM withdrawal: $500
  • Weekly ATM withdrawal limit: $5,000
  • Daily ATM withdrawal limit: 3
  • Monthly ATM withdrawal limit: 30

There's no monthly management fee but you will get charged $4.95 (£5.00) if you don't use your card for a 12-month period. 

You should also know that the free monthly ATM withdrawal limit is related to what type of card you have. You'll enjoy a fee of two percent after your free limit. For Midnight Blue cards, you'll enjoy free withdrawals of up to $200 per month with a two percent charge after your free limit.

With the Ruby Steel card, the limit's $400, and it's $800 with the Royal Indigo and Jade Green cards. For the Icy White, Rose Gold, and Obsidian Black options, the monthly withdrawal limit is $1,000.   

Crypto.com card comparisons

Crypto.com Features and Products 

Crypto.com remains best known for its great MCO Visa card, which makes cryptos conveniently mainstream. The company offers a wide range of features and services. Many customers are surprised to find out that the platform also provides access to:

  • Crypto Pay
  • Crypto.com app
  • Crypto Earn
  • Crypto Credit
  • Crypto.com exchange
  • Crypto.com DeFi wallet

Let's review each of these features and what they mean for customers using the platform. 

Crypto Pay

Crypto Pay lets you purchase gift cards for many popular brands. You can also use it to top-up your phone with cryptos. Expect these features to expand in the near future, permitting merchants to accept Bitcoin (BTC) and other popular cryptos

Crypto.com Gift Card

The Crypto.com App

The Crypto.com app lets you sell and buy an ever-increasing selection of cryptos at the real exchange rate. You may use this app to store, receive, and send cryptocurrency as well. The killer feature of this app has been the ability to buy and sell crypto at true cost. It's worth noting, however, that to save money, you'll need to do bank transfers, rather than paying with a credit card.

Crypto.com app

Crypto Earn

What do you need to know about Crypto Earn? This feature lets consumers earn up to 12 percent interest on their cryptocurrency deposits, proving to be a powerful way to hodlers to make money. This attractive approach to earning through the crypto platform continues to attract a steady flow of new customers. You can earn in CRO, Stablecoins or your favourite cryptocurrencies like ETH and BTC.

Crypto.com Earn Interest Rates

Crypto Credit

With Crypto Credit, you can fuel your MCO Visa card while earning credit in CRO. It's as simple as making deposits in cryptocurrency to your Crypto.com Visa card account.

Crypto.com Exchange

When you use the company's exchange for your trades and investments, you'll enjoy low trading fees of up to 0.16 percent. And you can manage all of these activities and transactions from the convenience of your laptop or desktop. 

Crypto.com DeFi Wallet

When you set up a Crypto.com account, you'll gain access to a DeFi wallet where you can store cryptocurrencies in a user-custodial wallet. What does this mean? It ensures you own the wallet and have control over its private keys. 

What's more, consumers can connect this wallet with "DeFi Swap." DeFi Swap lets you swap between tokens. That way, you can earn interest in your cryptos. 

What You Need to Know About the Crypto.com App: An Overview

Besides the MCO Visa card, Crypto.com also received plenty of attention for its Crypto.com app, available for iOS and Androids. What does the app allow customers to do? It lets you buy, store, sell, and transfer more than 90 different digital currencies. 

And unlike other exchanges and platforms that don't deal in fiat, you don't have to purchase cryptos before funding your wallet.

You can use USD, EUR, and GBP, and more to buy Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC) along with an assortment of other popular cryptos. But the options don't stop there. You can exchange between cryptos, too.

In other words, whether you're starting in fiat currency or other cryptos, Crypto.com can help. What's more, the platform has made it easy, simple, and quick to navigate. 

Better yet, the platform lets you buy these cryptos at real exchange rates without getting charged any additional fees.

For this reason, Crypto.com remains one of the cheapest places to purchase Bitcoin if you live in the UK. It's also an excellent choice for those residing in Singapore, Canada, the EU, and the US.

What else can you do with the app? It permits you to track the performance of hundreds of cryptos. This tool lets you maintain a visual on previous price movements in fiat currency or BTC. You can also set up alerts. 

Cryptocurrencies Supported by Crypto.com

The company stands at the helm of an ever-expanding list of supported cryptos. There are currently 92. Without exhaustively listing them all in this review, here's a snippet of acceptable currencies besides BTC, ETH, XRP, and LTC. 

Supported digital currencies include:

The list above is by no means comprehensive in this review. But it gives you a taste of the possibilities you'll enjoy when you sign up with Crypto.com. What about the fiat currencies accepted by the platform? Let's take a closer look.

Crypto.com Supported Fiat Currencies

Not all crypto platforms and exchanges deal directly in fiat currencies. As a result, you''ll enjoy cheaper fees with these platforms when you buy crypto, but you also lose out when it comes to convenience. After all, you must purchase crypto through another platform before funding your wallet.

But you'll never have to worry about these extra steps with Crypto.com. Instead, you can use any of the following fiat currencies to purchase cryptos directly through the site:

  • United States Dollar (USD)
  • Canadian Dollar (CAD)
  • Euro (EUR)
  • British Pound (GBP)
  • Singapore Dollar (SGD)
  • New Zealand Dollar (NZD)
  • Australian Dollar (AUD)
  • Swiss Franc (CHF)
  • Swedish Krona (SEK)
  • Norwegian Krone (NOK)
  • Danish Krone (DKK)
  • Polish Zloty (PLN)
  • Hong Kong Dollar (HKD)
  • New Taiwan Dollar (TWD)
  • Kenyan Shilling (KES)
  • South African Rand (ZAR)
  • Russian Ruble (RUB)
  • Romanian Leu (RON)
  • Hungarian Forint (HUF)
  • Czech Koruna (CZK)
  • Bulgarian Lev (BGN)
  • United Arab Emirates Dirham (AED)
  • Israeli New Shekel (ILS)
  • Saudi Riyal (SAR)

When it's all said and done, Crypto.com has worked diligently to become one of the most convenient and flexible platforms whether you're there to buy Bitcoin or another online cryptocurrency.

It has all of the bells and whistle you'll enjoy with other exchanges. But the company goes the extra mile when it comes to customer experience. Many other companies can't make the same claim.

How You Open a Crypto.com Account 

Head to Crypto.com to get started. There, you'll find links to download the mobile app for Android and iOS. Remember that you must be at least 18 years of age or older to sign up.

From there, you'll need to either go to the app store links or scan the QR code on the home page. Download the app to your phone and then start the app. Follow the prompts needed to verify your identity, and you're good to go.

How to Pay with Crypto.com

When you go to your store's payment method page, select "Crypto.com" from the establishment's drop-down menu. Agree to the Website Terms of Use and Terms and Conditions and then click the button that says "Crypto.com Pay" to head to the checkout. 

Next, you'll see a popup page with a QR code. From there, open your Crypto.com app and select the shopping bag icon located on the Home Screen to gain access to "Crypto Pay." Or you may click on the "Pay"' button on the dashboard. 

Look for the "Scan" button and click on it to scan the QR pay code you now have. Follow the prompt to choose a digital currency you'd like to pay with, and then click "Continue to Review." Finally, you'll review the payment and click "Confirm."

Is Crypto.com Safe to Use?

We've already discussed in this review that Crypto.com takes security and safety seriously. Nevertheless, your account won't enjoy the same insurance protections (FDIC or SIPC). Of course, this is true of cryptocurrency exchanges and platforms across the board. 

You should also bear in mind that Crypto.com is not a US-based enterprise. Instead, it's headquartered in Hong Kong where financial regulations prove quite different.

The platform relies on a Secure Software Development Lifecycle. These software analysis tools keep a constant eye on the code. It's quality controlled and peer-reviewed by a full-time staff.

The software also gets audited by external certifications via Certik and Quantstamp for smart contracts. It's worth noting that Crypto.com started with a mixed reputation in its early years.

From 2017 to 2019, some people even accused the company of being a scam. Since these early, difficult years, Crypto.com has worked hard to prove it's a legitimate platform.

Crypto.com's Customer Service

Multiple options are available when supporting and answering customer service questions. These options help customers to feel supported in their trading experience at Crypto.com.

For example, you'll see a dedicated instant chat service when you head over to the platform's home page. This chat service is attended to 24/7 by a bot, permitting you to leave a message and further contact information.

The support team will get back to you, which usually takes no more than a couple of hours. If you have any questions about the service, it may also help to browse the company's FAQ section. Here you'll find detailed answers to many of the most common questions customers ask.

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Nexo Logo WordmarkNexo

USD Coin Interest Account
Switch to NEXO
Earn 1000 USD p.a
990.1
10%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,094.76 USD in USDC or 11,294.76 USD in NEXO
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

Nexo Logo WordmarkNexo

Bitcoin Interest Account
Switch to NEXO
Earn 600 USD p.a
0.01742464
6%
APY
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

BlockFi Logo WordmarkBlockFi

USD Coin Interest Account
Earn 860 USD p.a
851.49
8.6%
APY
Get up to a $250 crypto bonus with a deposit of $25 or more in crypto
  • Investing 10,000.00 USD since May 27, 2020, you could have earned 10,954.76 USD in USDC
  • No min deposit
  • No max deposit
  • Rates updated on Thursday, May 27, 2021 at 03:40 AM

BlockFi Logo WordmarkBlockFi

Bitcoin Interest Account
Earn 500 USD p.a
0.01452053
5%
APY
Get up to a $250 crypto bonus with a deposit of $25 or more in crypto
  • No min deposit
  • 0.5 BTC max deposit
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YouHodler Logo WordmarkYouHodler

Tether Interest Account
Earn 1270 USD p.a
1270
12.7%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,274.11 USD in USDT
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

YouHodler Logo WordmarkYouHodler

USD Coin Interest Account
Earn 1200 USD p.a
1188.12
12%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,294.76 USD in USDC
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

Invictus Logo WordmarkInvictus

Tether Interest Account
Earn 339.43 USD p.a
339.43
3.39%
APY
Sign up and win $1000
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 10,343.54 USD in USDT
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  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:10 AM

Invictus Logo WordmarkInvictus

USD Coin Interest Account
Earn 339.43 USD p.a
336.07
3.39%
APY
Sign up and win $1000
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 10,434.19 USD in USDC
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  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:10 AM

Celsius Logo WordmarkCelsius

USD Coin Interest Account
Switch to CEL
Earn 888 USD p.a
879.21
8.88%
APY
Promo code: BITCOMPARE. Users will get $40 in free DAI after transferring $200 or more in crypto to their Celsius wallet and holding for 30 days. Minimum of $200 must be transferred in one transaction.
  • Investing 10,000.00 USD since June 2, 2020, you could have earned 10,982.76 USD in USDC or 11,215.76 USD in CEL
  • No min deposit
  • No max deposit
  • Rates updated on Wednesday, June 2, 2021 at 12:00 PM

Celsius Logo WordmarkCelsius

Bitcoin Interest Account
Switch to CEL
Earn 351 USD p.a
0.01019341
3.51%
APY
Promo code: BITCOMPARE. Users will get $40 in free DAI after transferring $200 or more in crypto to their Celsius wallet and holding for 30 days. Minimum of $200 must be transferred in one transaction.
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  • No max deposit
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Hodlnaut Logo WordmarkHodlnaut

USD Coin Interest Account
Earn 1050 USD p.a
1039.6
10.5%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,144.76 USD in USDC
  • No min deposit
  • No max deposit
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Hodlnaut Logo WordmarkHodlnaut

Bitcoin Interest Account
Earn 620 USD p.a
0.01800546
6.2%
APY
  • No min deposit
  • No max deposit
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SwissBorg Logo WordmarkSwissBorg

USD Coin Interest Account
Earn 1425 USD p.a
1410.89
14.25%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,519.76 USD in USDC
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

SwissBorg Logo WordmarkSwissBorg

Bitcoin Interest Account
Earn 500 USD p.a
0.01452053
5%
APY
  • No min deposit
  • No max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

Ledn Logo WordmarkLedn

USD Coin Interest Account
Earn 1100 USD p.a
1089.11
11%
APY
  • Investing 10,000.00 USD since June 21, 2020, you could have earned 11,194.76 USD in USDC
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  • No max deposit
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Ledn Logo WordmarkLedn

Bitcoin Interest Account
Earn 610 USD p.a
0.01771505
6.1%
APY
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  • 2 BTC max deposit
  • Rates updated on Monday, June 21, 2021 at 05:11 AM

Crypto.com: Frequently Asked Questions (FAQs)

Now that you've got a much better concept of what you'll get with Crypto.com, let's take a look at some of the platform's most frequently asked questions (FAQs). These common customer inquiries will provide you with insights into everyday aspects of using the app, card, and more.

Which Cryptocurrencies Are Accepted by Crypto Pay?

At the moment, you only have one option when it comes to Crypto Pay. The platform currently only accepts Crypto.co Coin (CRO).

What Should You Know About Crypto.com DeFi Swap Fees?

Crypto.com's DeFi swap permits users to connect their personal Ethereum wallet for effortless and streamlined ERC-20 token swaps, unlike the app or exchange.

Generally, you'll get charged 0.3 percent fees to liquidity providers for token swapping fees. These fees support the run of smart contracts.

To get started, connect your Defi Swap with your Crypto.com Defi Wallet. When transferring crypto in the Ethereum network, you must pay gas fees.

Choose between average, fast, and super transaction confirmation speeds. Remember that average and super-fast speeds respectively represent low and very high transaction fees.

Which Wallets Are Compatible With Crypto Pay?

You've got incredible flexibility when it comes to Crypto.com. You may use any wallet that both holds and sends Crypto.com Coin (CRO) with Crypto Pay.

Pros and cons of Crypto.com

Pros

  • Is a complete crypto platform
  • Offers frequent promotions
  • Permits you to earn returns on your deposits
  • Includes a high-speed exchange with competitive fees
  • Offers a crypto-backed rewards card
  • High-speed exchange with competitive fees

Cons

  • Having to stake CRO or MCO to get the most out of your MCO rewards
  • A general lack of transparency regarding where funds come from
  • A confusing two token system (e.g., CRO and MCO)

Are these issues enough to make you think twice about Crypto.com? Not necessarily. But you'll need to weigh these problems carefully against the pluses of this platform. 

Crypto.com Review Summary: A Cryptocurrency Exchange Site Worth Your Attention

Crypto.com offers a condensed selection of assets to trade via the platform. But beyond the exchange, you'll gain access to a broad ecosystem offering innovative ways to earn, save, and trade.

The platform's fees and commissions remain very competitive, and the trading interface is both streamlined and intuitive. These characteristics represent essential components for attracting traders and advancing Crypto.com as a popular and accessible place to trade.

For all of these reasons and more, Crypto.com remains a robust cryptocurrency exchange site with plenty to offer different types of traders and investors in the sector.

How does Crypto.com compare to other platforms? Check out our comprehensive list of cryptocurrency platforms now.

Our Crypto.com score

4.0
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