Crypto.com review 2024

If you’re looking for a wide range of cryptocurrencies and low fees, Crypto.com should be on your shortlist for your next cryptocurrency exchange. With over 250 coins, you’ll have access to the most popular cryptocurrencies as well as some lesser-known names. The exchange offers some of the lowest fees, starting at just 0.075%, and volume-based discounts for those who trade significant amounts each month. However, if you’re a buy-and-hold investor, you may appreciate the staking rewards the exchange offers on over 20 cryptocurrencies, allowing you to earn income while you wait for the value to appreciate. As in previous years, Crypto.com remains weaker in the areas of customer support and educational resources. These may not be deal breakers, but they do reduce the appeal of this cryptocurrency exchange.

If you’re looking to trade traditional securities like stocks alongside cryptocurrencies, apps like Robinhood and Webull (via Webull Pay) will also offer you big crypto names. Meanwhile, if you’re looking for another exchange that offers a wide range of cryptocurrencies, rival Coinbase could be a good choice.

HighlightsCrypto.com at a glance

Category

Crypto.com

Minimum balance:

None, but $1 minimum transaction and $20 minimum bank transfer

Securities subject to trading:

More than 250 cryptocurrencies

Cost per transaction:

Customer service:

No phone service, only self-help, email and chat

Mobile application:

The Crypto.com mobile app is available on the Apple App Store and Google Play Store

Pros: Where Crypto.com stands outCryptocurrency selection

Crypto.com really sets itself apart from other trading apps by offering over 250 cryptocurrencies, which are among the best in the industry. Other cryptocurrency apps only offer the most popular coins like Bitcoin, Ethereum, Solana, and others. But with Crypto.com, you’ll find these popular cryptocurrencies along with lesser-known ones like Helium, as well as others you may have never heard of before.

It’s worth noting that not all cryptocurrencies are available in every state, so be sure to check if a coin you’re interested in is available in your location before you start. The Crypto.com app is not available in New York state at all.

Coinbase is another option if you are looking for a wide range of cryptocurrencies with over 2,420 coins. Keep in mind that if you want to trade non-crypto securities, you will need to open an account with a brokerage firm like Schwab or Fidelity.

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Transaction fees

Crypto.com has significantly reduced its trading fees and is now among the industry leaders when it comes to cost. Previously, trading fees for someone trading around $10,000 per month started at 0.40%, but that number is now just 0.075%, ahead of other low-cost exchanges like Binance.US and Kraken.

Crypto.com uses a maker-taker pricing model that rewards those who provide liquidity at high volumes (makers) and charges a slightly higher price to those who reduce liquidity (takers). Here is a breakdown of how fees change with increasing volumes.

30-day trading volume ($)

Producer

Buyer

0.075%

0.075%

$250,000+

0.070 percent

0.072%

$1,000,000+

0.065%

0.069%

$5,000,000+

0.060%

0.065%

$10,000,000+

0.0 percent

0.05%

Crypto.com offers trading fee discounts to those who stake CRO, Crypto.com’s own cryptocurrency, and pay trading fees in CRO. Crypto.com says that trading fees and discounts for staking CRO may change from time to time.

No fees for bank transfers

Crypto.com doesn’t charge you any fees to transfer funds from your bank account to its platform, making it an ideal choice for funding your account. Other funding options, such as using a credit card, come with fees of around 3%.

An automatic clearinghouse or ACH transfer from a bank usually takes three to five business days and comes with a $20 minimum and a daily limit of $1,000,000. You can also fund an account via wire transfer, which is a bit faster at one to two business days but requires a minimum transfer of $1,000 per transaction. The daily maximum for wire transfers is $1,000,000.

Bet

Crypto.com allows its customers to hold cryptocurrency deposits and earn rewards in return. The practice, known as staking, is similar to a bank savings account that pays interest, but with significantly greater risks. You’ll be able to earn rewards on over 20 cryptocurrencies on Crypto.com, and interest is paid weekly. As of August 2024, you can earn up to 19% per year by staking with Crypto.com. You can earn 5% to 5.5% per year by staking with Bitcoin and Ethereum.

Remember that traditional bank accounts are protected by FDIC insurance, which allows you to receive compensation of up to $250,000 in the event of a bank failure. Crypto staking does not come with a similar insurance policy, and you also face the market risk of losing your principal if the value of the cryptocurrency declines.

Cons: Where Crypto.com could improve: Educational material

If you’re new to cryptocurrency and want to learn more about it, you’ll need to look no further than Crypto.com. While some questions are answered through the online help center, it’s mostly focused on how to perform different functions through the app rather than educating traders about crypto.

Cryptocurrency has attracted many new investors, many of whom don’t understand how trading works or the intricacies of crypto. Crypto.com has reportedly spent hundreds of millions of dollars on advertising, including a TV spot with actor Matt Damon, a naming rights deal for the old Staples Center in Los Angeles, and a sponsorship deal with the 2022 FIFA World Cup. Of course, it could invest some money into further developing its educational content to help novice investors better understand the many risks of crypto trading.

Customer service

Like many cryptocurrency trading apps, Crypto.com does not offer phone support as part of its customer service offering. You will have to rely on a help center that is only accessible online and focuses more on account funding questions and specific product features. There is always an email and chat option within the app for questions, but some customers prefer to speak to a real person on the phone.

Trading platform

Despite offering the largest number of cryptocurrencies in the industry, Crypto.com’s trading platform is fairly basic and may cause advanced and professional traders to look elsewhere. You will have access to market data and basic charts, but the platform does not meet the standards set by other exchanges such as Gemini and ActiveTrader offerings.

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