If you're looking for an affordable, all-in-one cryptocurrency platform, Crypto.com might be right for you. The more Cronos (CRO) you're able to stake, the more benefits you'll get from this exchange. Even without the CRO bonuses, it's a solid low-fee crypto exchange with over 250 cryptocurrencies available -- especially if you want a crypto debit card. Read our full Crypto.com review to find out if it's right for you.
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Ratings Methodology
Our Rating:
Rating image, 4.00 out of 5 stars.
4.00 stars
Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. = Best = Excellent = Good = Fair = Poor
Bottom Line
Has a vast selection of cryptocurrencies and earns high rates of interest. But the trading fee structure does take some digging to fully understand.
Fees:
0.04%-0.40% maker/taker fee
Account Minimum:
Varies based on cryptocurrency
Open Account for Crypto.com
This cryptocurrency exchange is a good fit for: Anyone who wants to spend, trade, store, and save cryptocurrencies, especially Crypto.com's utility token, Cronos. This all-inclusive exchange lets you buy, sell, and trade a good range of cryptocurrencies at affordable rates.
Pros
- Low fees
- Great for crypto payments
- Easy to convert money
- Visa card with cash back rewards
- Earn interest on crypto
- Cryptocurrency selection
- Strong security
Cons
- Difficult to navigate
- Coins aren't universally available
- Poor customer service
- Lack of educational resources
Alternatives to consider
If you want a simple-to-use trading platform: Gemini is easier to use and navigate than Crypto.com. This is most apparent when comparing the two apps. Gemini makes the essentials simple, from making a trade to linking up external bank accounts. Importantly, Gemini also offers high yields for stablecoins.
If you want more educational resources: Coinbase is slightly more established than Crypto.com and is great if you're starting out. Its selection of beginner guides, crypto tips, and tutorials lets you learn as you go. In fact, you can even earn free crypto by doing courses on certain products.
| Offer | Crypto.com | Gemini Exchange | Coinbase |
|---|---|---|---|
| Rating | Rating image, 4.00 out of 5 stars. 4.00 stars Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50 stars Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. | Rating image, 4.50 out of 5 stars. 4.50 stars Our ratings are based on a 5 star scale.5 stars equals Best.4 stars equals Excellent.3 stars equals Good.2 stars equals Fair.1 star equals Poor.We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs. |
| Commissions | 0.04%-0.40% maker/taker fee | $0.99-$2.99 orders < $200, 1.49% for orders at least $200 (default), 0% - 0.40% (Gemini ActiveTrader) | Variable fees (Coinbase), 0%-0.60% (Coinbase Advanced Trade) |
| Next Steps | Open Account for Crypto.com | Open Account for Gemini Exchange Read Full Review | Read Review |
Top perks
Crypto.com has a lot to offer, including its own CRO token, Cronos. And the more CRO you're willing to stake (aka deposit with Crypto.com), the better the benefits.
One-stop shop
It's easier to think of Crypto.com as a crypto bank than a cryptocurrency exchange or brokerage. Sure, you can buy and sell cryptocurrencies on the exchange. You can also swap them with other users through your DeFi wallet. But more than that, you can spend your crypto with a prepaid Visa card, which makes it a great option for making payments in crypto. You can get paid in crypto, put your cash into an interest-earning account, and -- in some countries -- get a crypto loan.
Read more: Crypto.com Card review
Low fees
As we'll see below, you can deposit money into your Crypto.com account via an electronic bank transfer or wire transfer without paying any fees. You can also buy and sell cryptocurrencies at true cost, making it one of the better value exchanges.
Crypto.com charges a fee for credit/debit card crypto purchases via its app. If you pay using a credit card, your card issuer may also charge a cash advance fee if you use it to buy cryptocurrency.
Easy to convert your money
Like most of the best cryptocurrency exchanges, the Crypto.com app makes it easy to convert fiat currencies into crypto. It accepts over 20 fiat currencies including USD, GBP, and EUR. And you won't have to pay hefty fees, though depending on your country of residence, you may find you're limited to certain fiat currencies once you register.
Cash back cards
Crypto.com offers five prepaid Visa Cards. They can be used anywhere that accepts Visa, but you'll have to top them up before you can spend money. I have had a Crypto.com Visa debit card for about a year and for me, it's one of the best things about the platform. It is easy to top up and I earn rewards on my everyday spending.
As with its other products, the more CRO you stake, the better the benefits. The top-of-the-range Obsidian card earns 5% cash back (more accurately, crypto back) and comes with a host of extra bonuses. However, you'll need to stake around $400,000 worth of CRO to qualify.
If you don't have oodles of cash, for a $400 stake, you'll get 1% back with the Ruby Steel card. There's no annual fee, and you'll get a set number of free ATM withdrawals and foreign transactions each month, depending on the card. The benefits used to be a lot better, but Crypto.com significantly reduced its rewards in 2022.
Earn interest
Crypto.com isn't just a place to buy Bitcoin and other cryptocurrencies. Account holders can also earn high rates of interest. Crypto.com's lowest interest rates are better than the best high-yield savings accounts. The maximum interest you can earn is upwards of 10%, but -- like the Visa card benefits -- you'd have to keep a lot of cash in CRO to qualify.
Your interest rate depends on how long you will leave money, which currency you save, and the amount of CRO you have staked. You can increase your interest rate on the app if you:
- Stake more than 4,000 CRO. You get even more if you stake 40,000 CRO, but that may not be feasible for many investors.
- Deposit it for a three-month term. Flexible and one-month terms are also available, but three-month terms earn the better rates.
- Invest in a stablecoin. Stablecoins are pegged to fiat currencies or commodities. So you could invest in a stablecoin that is pegged to the U.S. dollar. You'll earn more interest, but your coin is unlikely to appreciate in value the same way a normal cryptocurrency might.
However, keeping your savings in crypto is risky. All cryptocurrencies are volatile, and unlike regular savings accounts, you won't get FDIC insurance. If your currency fails, it could wipe out all your savings.
Gift cards and phone top ups
Your Crypto.com Visa Card isn't the only way you can spend your crypto. You'll also earn cash back when you buy gift cards with several popular brands. Current U.S. gift card brands include Airbnb, Barnes & Noble, Macy's, and many more. The amount of cash back depends on how much CRO you have staked and what type of company it is. You can also top up prepaid phones on certain networks.
What could be improved
Crypto.com has a lot to offer, but there's still room for improvement.
Ease of use
The downside to being all things to all people is that the website can be overwhelming at first. There's a lot to process and a lot of lingo to get your head around, especially if you're starting out. Even after a 2021 website relaunch, there's simply a lot going on. Any site with so many products and services is likely to be difficult to navigate. On top of that, the functionality on the browser exchange and the app are different.
Not universally available
You can sign up to Crypto.com from every U.S. state except New York. However, you can't buy all of its currencies everywhere. Crypto.com boasts over 250 coins and over 20 fiat currencies. A number of these cryptos are not available in the U.S. and some are restricted in certain U.S. states.
Some features, such as the Crypto.com loan, are not available in the U.S. In other countries, crypto investments can be used as collateral against a loan.
Customer service
Despite offering 24/7 support via the in-app/website chat or email, Crypto.com currently only scores 2.1 out of 5 stars on Trustpilot. Many of the complaints are about a lack of customer service response. This could be frustrating if you're trying to set up an account or access your money.
Educational resources
Crypto.com is not a great site for beginner investors. It does provide basic information about individual currencies, but that's about it. There's no cryptocurrency knowledge center and little in the way of research. Crypto.com investors will have to do their learning elsewhere.
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Originally called Monaco Technologies, Crypto.com's founding mission was to speed up the world's transition to cryptocurrency. What began as primarily a crypto payment product is now a popular cryptocurrency hub.
Crypto.com works on both your desktop and mobile app. Once you've set up your account and verified your identity, you can trade through its exchange, through the app, or through its DeFi wallet. The difference between the app and the exchange can be confusing. Unlike other crypto exchanges, where the app and the browser are just different ways to access the same account, the two systems are separate on Crypto.com. It is easy to move money between the two, but the setup is not intuitive. I ended up staking CRO on both platforms to qualify for different benefits, which isn't ideal.
The DeFi wallet is another product altogether. It's a decentralized exchange that lets you swap cryptocurrencies with other users. If you go this route, you'll have full control of your keys, and you can opt to pay a higher fee to process your swap faster.
If you stake CRO on either the Crypto.com app or the Crypto.com exchange and leave it alone for more than six months, you can earn interest and unlock benefits. For example, on the Crypto.com app, you can qualify for the following types of Visa debit card and earn rewards:
| CRO Stake in USD | $0 | $400 - $3,999 | $4,000 - $39,999 | $40,000 - $399,999 | $400,000 |
|---|---|---|---|---|---|
| Visa card | Midnight Blue (0% cash back) | Ruby Steel (1% cash back plus limited Spotify credit) Monthly rewards capped at $25 | Royal Indigo & Jade Green (2% cash back plus limited Spotify and Netflix credits) Monthly rewards capped at $50 | Frosted Rose Gold & Icy White card (3% cash back plus Spotify, Netflix, Expedia credits and other perks) | Obsidian card (5% cash back plus Spotify, Netflix, Expedia, Airbnb credits and other perks) |
Data source: Crypto.com
Crypto.com succeeds in making crypto more accessible. The risk is that it doesn't have the same safeguards as a regular financial institution. If you stake sizable amounts of CRO, you could benefit from both interest and potential currency appreciation. However, if its currency fails, you could lose it all. Moreover, as we've discovered recently, there's nothing to stop Crypto.com from moving the goalposts and changing the staking rewards. It attempted to drastically cut back on staking benefits, but pressure from the community caused it to backtrack and instead reduce but not totally decimate its benefits. As a user, I'm less inclined to stake and hold CRO long term, as the move damaged my confidence in the platform.
Fees overview
Depending on how you deposit money into your Crypto.com account, it could be a very affordable way to trade.
Deposit and withdrawal fees
| Transaction | Fee |
|---|---|
| USDC Bank deposit | Free (minimum $100) |
| Debit / credit card crypto purchases | Up to 4% |
| Send crypto to other Crypto.com App users | Free |
| Top up Visa debit card balance | Depends on country and top up form. 1% for debit card top ups in U.K. and E.U. (Free in U.S.) 2.99% to top up using credit card in U.S. |
| Crypto deposit fees | Free |
| Crypto withdrawal fees | Depends on currency |
| Fiat withdrawal fee | 25 USDC |
| Card inactivity fee | Crypto.com charges a monthly Visa debit card fee after 12 months of inactivity. Fee depends on country. |
Maker / taker fees
| 30 day trading volume (USD) | Maker | Taker |
|---|---|---|
| $0 - $250,000 | 0.40% | 0.40% |
| $25,001 - $50,000 | 0.35% | 0.35% |
| $50,001 - $100,000 | 0.15% | 0.25% |
| $100,001 - $250,000 | 0.1% | 0.16% |
| $250,001 - $1,000,000 | 0.09% | 0.15% |
| $1,000,001 - $20,000,000 | 0.08% | 0.14% |
| $20,000,001 - $100,000,000 | 0.07% | 0.13% |
| $100,000,001 - $200,000,000 | 0.06% | 0.12% |
| $200,000,001 and above | 0.04% | 0.10% |
Data source: Crypto.com.
Crypto.com wants to grow. To do that, it needs high trading volumes, high liquidity, and high takeup of its Cronos coin. To that end, it's willing to charge lower fees depending on:
- Whether you're a market maker or taker
- How much you trade
- How much CRO you have staked
For example, if you want to trade something that isn't immediately available, you'll pay a lower "maker" fee because you're adding liquidity. If your trade goes through straight away, you'll pay a higher "taker" fee because you're taking away liquidity.
If you've staked 5,000 CRO or more and pay in CRO on the exchange, you'd qualify for a 10% trading discount. That means the top rate you'd pay for trading would be 0.36%.
Stake discount
| Stake | Discount |
|---|---|
| ≥ 5,000 CRO | 10% |
| ≥ 10,000 CRO | 20% |
| ≥ 50,000 CRO | 40% |
| ≥ 100,000 CRO | 60% |
| ≥ 500,000 CRO | 70% |
| ≥ 1,000,000 CRO | 80% |
| ≥ 5,000,000 CRO | 90% |
| ≥ 50,000,000 CRO | 100% |
Data source: Crypto.com
Cryptocurrency selection
Crypto.com offers over 250 cryptocurrencies worldwide. However, a number of these are not available in the U.S. at all, and others are not available throughout the country. That said, its selection of coins is as good, if not better than, most of its competitors. Here is a selection of the coins offered. You can buy most of the top 20 cryptos on the Crypto.com app, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Solana (SOL), and many more. It's good to see that Binance Coin (BNB) and Binance USD (BUSD) are listed, as these are sometimes harder to find.
Is your cryptocurrency safe with Crypto.com?
Users have all the security features you'd expect, such as multi-factor authentication and anti-phishing measures. User security also includes password, biometric, email, phone, and authenticator verification.
Crypto.com says security is built into every aspect of its business, and systems are stress tested by leading security firms. It keeps funds in cold storage and uses Hacker One, a bug bounty program, to identify weaknesses.
In addition to being insured for $360 million against damage or theft, Crypto.com partners with Ledger to store user cryptocurrencies in cold storage. And on the topic of insurance, if you keep a balance in U.S. dollars, that money is FDIC-insured as it would be with a regular bank.
Crypo.com suffered a $34 million hack earlier this year, due to an issue with its two-factor authentication. It reimbursed all user losses and has since set up an Account Protection Programme in certain markets.
- You want a low-fee cryptocurrency exchange and want to move fiat currency into crypto easily.
- You are a relatively experienced crypto investor and don't need a lot of crypto education.
- You want to do more of your banking -- saving, spending, and investing -- on a crypto platform.
- You are willing and able to deposit large amounts in CRO.
