Practically everyone has heard of cryptocurrencies, whether they actively use them or are indifferent to them. Are you one of the former? Then you surely are constantly looking for places to safely trade your cryptocurrencies.
It’s important to remember that using them for payment is getting easier and easier these days. It turns out that the Crypto.com platform combines both of these functions. What is it and what are the benefits of using it?
What is Crypto.com?
Although this platform had a very turbulent past and passed from owner to owner numerous times, the most important thing is that it managed to keep the idea behind its creation. Crypto.com has set itself the primary goal of facilitating traditional cryptocurrency payments.
Has it succeeded? Definitely yes, because the platform uses Visa cards, popular all over the world. It is worth emphasizing that this system also works in our country and in other European countries.
It is worth noting that there are two separate products under the name Crypto.com:
- cryptocurrency exchange
- mobile app
The mobile app is first and foremost a tool to order your Visa card and then to control the money gathered on it. It is important to note, both the exchange and the app are not directly connected to one another. If you have money stored in your mobile program, you cannot use it on the exchange. To do so, you have to first transfer the money from one account to the other.
Crypto.com trades their own CRO cryptocurrency, but also works with many others, popular currencies, including:
- Bitcoin BTC,
- Ethereum ETH,
- Litecoin LTN,
- Polkadot DOT.
This is the first advantage of using the platform – a huge variety of cryptocurrencies. There are more of its positive features, but for starters, let’s focus on the mobile application.
What Visa cards can you get from Crypto.com?
The mobile app serves you to order your debit card and make payments with cryptocurrencies. As mentioned before, the platform utilizes Visa payment products, accepted worldwide. If you are interested in ordering such a card, your choices include:
– CRO Midnight Blue – it’s free, provides a bonus of 1% CRO for transactions, and the monthly limit of payments is set to 200 USD,
– Ruby Steel – the order will cost you 1000 CRO, it provides a bonus of 2% CRO, and the monthly limit of payments is set to 400 USD,
– Jade Green – for this card, you’ll have to pay 10 000 CRO, but the CRO cashback is 3%, and the monthly limit is 800 USD,
– Icy White – the minimum you have to have to own this card is 100 thousand CRO. The transaction cashback will be 4% CRO, and your monthly limit will be 1000 USD.
All cards also have limits related to monthly inter-bank transactions. They are, in order, 2000, 4000, 10 000 and 20 000 USD.
There also exists a true premium Visa card, called Obsidian Black CRO. To get it, you need a mind-boggling one million CRO, but the bonus is 5%, and there is no limit for monthly inter-bank transfers.
What are the benefits of using the Crypto.com trading platform?
Most people are surely most interested in the features the Crypto.com exchange offers.
It is worth mentioning a few basic benefits provided by the platform, which include:
- 3 months commission – free after registering your account (plus 30 days of no commission after ordering your Visa card)
- works with many cryptocurrencies, as we’ve mentioned above
- you can create a user account without the need to provide an ID,
- there is a passive income option for cryptocurrencies, so-called stacking,
- Access to the so-called The Syndicate stocks, which allow users to buy cryptocurrencies for as low as half the normal price,
- an affiliate program – people registering accounts after being recommended by another user might get a starting bonus in the form of the CRO cryptocurrency of market value of 10 USD or 50USD.
What commissions does platform charge?
Using the Visa card means a commission of 2.99%. How does it work for a trading account? Here’s some good news, as the platform charges you one of the lowest fees in the industry. The commission is only 0.1% for maker orders and 0.4% for taker orders. The account itself is free of charge.
It’s also worth nothing that Crypto.com charges standard commissions for money withdrawals. Fortunately, they can be avoided by ordering a transfer from your trading account to the mobile application, i.e. to your payment Visa card account.
What does registering on Crypto.com look like?
The registration process is extremely simple and, what’s important, you can skip ID card verification. We know many people are put off by this because they fear for their safety. To register a user account, you must simply provide basic personal data, including telephone number and e-mail address. This is important, as the platform sends out special verification codes that you must enter to activate your account. After doing this, you can now freely trade in the cryptocurrency market.
Is using Crypto.com safe?
The platform prides itself on the exceptional security of financial transactions, mentioning it at every step, and you can clearly see that this is a very important feature for the creators. It is worth noting that the exchange itself has passed very rigorous tests, which rely on generating random threats and controlling how the platform deals with them.
What’s more, Crypto.com is certified by a Swiss company that produces specialized hardware and software related to IT security. It cannot be denied that, at the moment, it is one of the safer places to conduct cryptocurrency transactions.
How do other users rate the platform?
Considering the mobile application, it has a really decent rating. At the moment, the program can be proud of a rating higher than 4 stars in both the App Store and Google Play. Yes, the application is available for both Apple and Android phones.
In the case of the cryptocurrency exchange, we can also see a very decent rating here. Crypto.com is praised for its outstanding clarity of tools and ease of use. Lots of users also emphasize very low commissions and great freedom in the choice of cryptocurrencies. The platform is also widely praised for its advanced security systems and honest and reliable approach to its users.
Naturally, you have to remember that trading in the cryptocurrency market always involves some investment risk. Be aware of this when deciding whether to register a user account on this website or in the application.