Crypto.com Exchange: Official Review 2024

01 March 2022

Pros:

Low commissions.
Wide variety of products.
Option to participate in crypto staking.
Possibility to take out loans.

Cons:

Lack of educational materials.
Lack of customer assistance via telephone.
No virtual account.
Platform not suitable for advanced technical analysis.

Overall Rating: 84/100

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» Check out our methodology

Safety: 95/100
Fees and Costs: 90/100
Products and markets offering: 73/100
Platform and Research: 85/100
Mobile trading: 91/100
Ease of use: 92/100
Tax regime: 55/100
Customer support: 68/100
Education: 67/100
Banking services: 20/100

One of the main questions asked by traders entering the world of cryptocurrencies is: 

 "How can crypto be spent?" The well-known Hong Kong company Crypto.com is one of the answers to this question.

Crypto.com is a platform that allows you to buy, sell and spend your digital assets in an easy and safe way. 

Here are some of its special features:

  • Crypto.com CARDS, a service that allows users to request a Visa circuit card that can be used to pay directly with the cryptocurrencies available on the platform;
  • Crypto EARN, allows one to earn up to 12% per year with cryptocurrency stakings 
  • Crypto CREDIT, allows one to obtain loans after depositing cryptocurrencies as collateral
  • Crypto PAY, gives users the opportunity to purchase goods and services from affiliated merchants by paying with their own crypto

The company, created as “MONACO” in 2016, which is now named Crypto.com after purchasing, has now more than 2,500 employees and boasts more than 10 million customers worldwide.

The ease-of-use of its applications makes each user's experience pleasant and worry-free.

Moreover, the company has recently released the Crypto.com “DEFI WALLET”, which allows users to be fully in charge of the management and storage of their digital coins, owning the private keys of their wallet.

Safety

Safety is one of the first elements to take into consideration when it comes to evaluating a brokers’ reliability.

Many exchanges have failed in the past to protect their users' funds and have had to shut down their businesses due to malware, ransomware and cyberattacks.

To ensure the safety of its clients' funds, Crypto.com has a dedicated team responsible for monitoring each transaction.

Furthermore, cryptocurrencies are stored in armored cold storage guaranteed by the custody solution of the Ledger group, LEDGER VAULT, which uses multisignature technologies and world-class hardware.

The funds are insured for a total of $750 million against physical damage or theft by third parties.

Users' fiat currencies are held in regulated custodian bank accounts.

Crypto.com has secured a $100 million direct insurance policy led by Arch Underwriting at Lloyd's Syndicate 2012.

Customers with permanent residence in the United States are covered by FDIC insurance of up to $250,000.

All clients keep possession of the currencies in segregated bank accounts, which means that fiat funds cannot be claimed by Crypto.com or any of its creditors.

Regarding privacy, as shown on the website, Crypto.com uses the Zero Trust and Defense in Depth security protocols to safeguard users' personal information.

Crypto.com also boasts being the first cryptocurrency company in the world to have ISO/IEC 27701: 2019, CCSS Level 3, ISO / IEC 27001: 2013 and PCIDSS v3.2.1 as compliance levels and independently assessed at Tier 4, which is the highest level for both NIST Cybersecurity and Privacy Frameworks.

The Crypto.com app requires the use of multi-factor authentication (MFA). Transactions are protected by MFA, which includes the verification of passwords, biometric data, e-mail, telephone and authenticator.

Author of the review:

Alfredo de Cristofaro
Founder
Graduated in Economics of Financial Intermediaries, after having worked for several years at one of the main financial brokers in Europe, he decided to make available to investors the knowledge gained over the years. On QualeBroker.com he's responsible of reviewing the stockbrokers, making sure that the highest standards of safety and transparency are guaranteed.
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