Crypto.com is one of the companies that has emerged in recent years. It offers a platform for cryptocurrency payments and various other features. With Crypto.com, users can buy, sell, and spend cryptocurrency through their mobile app and payment card. Here is a complete guide to getting started with the Crypto.com platform.
Crypto.com was founded in June 2016 by Kris Marszalek (CEO), Rafael Melo (CFO), Gary Or (CTO) and Bobby Bao (Head of Corporate Development).
In June 2017, they raised $26.7 million in their initial coin offering in Monaco (MCO). They are headquartered in Hong Kong and currently have a team of over 900 people worldwide.
Crypto.com was previously known as Monaco (MCO) – but was rebranded in July 2018 after the expensive acquisition of the Crypto.com domain name.
They announced in 2022 that there will be more than 50 million users worldwideafter hitting 10 million users more than a year ago.
Crypto.com is a platform that helps users buy, sell, and trade cryptocurrencies. It also has an NFT Marketplace where people can find digital art and collectibles.
The application offers hundreds of cryptocurrencies to customers around the world, including bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC), which are some of the most popular cryptocurrencies available today.
The low price and simple application make it an ideal tool for beginners or advanced users. You can buy, sell or transfer tokens quickly and easily.
To trade cryptocurrencies on Crypto.com Exchange, you must be at the Starter level or above. Visit crypto.com/exchange and select the “Connect” button (top right corner).
If you are logged in to your account, you can transact on the exchange. Go to the “Markets” page on the top left of the navigation bar.
Select the market you want to sell. Lead to the pair you want to trade (eg CRO/BTC), then select Trade.
Navigate to the right side of your screen to find the Limit, Market, and Advanced Orders area. Select the type of order you want to use and fill in the required fields.
The daily trading limit is the maximum trading amount for a tick in 24 hours. This limitation can be used in your main account and your sub account and reset on a continuous basis.
The final daily trading limit is the lower of the basic currency limit and the USD notional limit. Crypto.com sets trading limits on trading pairs that are normally only listed on decentralized exchanges.
You will see this message when your order for a trading pair exceeds its limit “Your order exceeded the trading limit for this trading pair”.
The beta version of the Crypto.com exchange was launched in November 2019. If you are already a user of the Crypto.com app, then you can register in just a few clicks.
This allows you trade popular cryptocurrencies like bitcoin (BTC), ethereum (ETH) and ripple (XRP). Here is an example of a trading page including the chart and the order book:
To the right of the order book, you will find the order entry window (see the example described in the first part of this article) that will allow you to choose the direction of the transaction (buy/sell), the type of order, limit if there is a quantity.
As for trade fees, they depend on the market (spot/margin), the monthly transaction volume and the number of native tokens on the platform (CRO) that you own and place on the platform.
Here is a summary table of trading fees at Crypto.com:
If you stack an amount above 1,000 CRO, the discounts (right columns) will increase accordingly.
As for the trading itself, the platform allows you to trade multiple currency pairs on spot, margin or derivatives. There are many types of orders that you can choose according to your needs.
Services, cards, wallets: all about Crypto.com
Crypto.com is best known for its Visa card, but it also offers other products and services.
The Crypto.com Visa Card allows you to spend your cryptocurrencies in store and online. It is accepted wherever Visa is generally accepted, meaning at more than 54 million points of sale and ATMs worldwide.
There are many Crypto.com Visa cards to choose from. To unlock the card and the maximum cashback, you need to bet a large amount of Cronos (CRO) in the Crypto.com app.
Except Visa card, here the main services offered via Crypto.com:
Crypto.com App : Buy and sell a growing number of available cryptocurrencies. You can also receive, store and send cryptocurrencies with this app.
Crypto Pay : Buy gift cards for many popular brands and recharge your phone with cryptocurrencies.
This app also allows you to pay all merchants using the “Crypto Pay Checkout” feature with bitcoins (BTC) and other popular cryptocurrencies.
Crypto Profits : you can take advantage of stacking and thus earn up to 12.5% interest per year depending on the cryptocurrency you invest in, the block duration and the number of CRO tokens you stake.
Crypto Credit : you can get instant loans using your cryptocurrencies as collateral. The loan to value (LTV) ratio is 50%. This means you get €500 credit when you deposit €1,000 worth of bitcoin (BTC) or one of the other supported cryptocurrencies.
An annual interest rate of 12% will be charged if you do not at least €30,000 in CRO on the Crypto.com app. This rate is reduced to 8% if you bet more CRO.
Crypto.com Exchange : trade the most popular cryptocurrencies on the exchange with a reduced trading fee (0.075% maximum).
Crypto.com DeFi Wallet : store cryptocurrencies in a wallet where the user has custody (ie you control the private keys). It can also be connected to “DeFi Swap”, where you can exchange tokens and earn interest on your cryptocurrencies.
Crypto.com NFT : the platform also offers a digital art marketplace (NFT).
Crypto.com is therefore a versatile exchange that offers many popular products and services. Safety is at the heart of social development.
It calls companies to world-renowned security consulting and auditingsuch as Kudelski Security, to audit its main Blockchain systems.
However, remember that users may still be at risk from hacks or other security breaches beyond the company’s control.
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