Pros & Cons: My Experience Using Crypto.com (2024)

FAQs

What are the disadvantages of crypto com? ›

Crypto.com offers a massive selection of digital assets and has fees that can be quite low. It's good for people comfortable with mobile trading, and those who are interested in add-on services such as credit cards.

Simply go to the withdrawal drawer in your Fiat Wallet and tap Add a Bank Account. Follow the onscreen instructions and tap Submit to save your bank account.

There are many ways to earn a return through crypto.com. The main way is to purchase your cryptocurrency and earn through appreciation. While holding crypto, their Earn feature allows you to earn up to 14% interest on qualifying coins.

Cons Explained. Higher fees unless you hold and use CRO: Crypto.com users with a significant holding of CRO currency can get discounts on their trading fees. Poor customer support: Customer complaints mention slow and low-quality customer support responses.

Is Crypto.com safe to link my bank account to? Yes. Crypto.com uses Plaid to link your bank account to your exchange account. Your bank login info goes to Plaid, not Crypto.com, and Plaid is a trusted intermediary between banks and financial applications.

Yes, both Crypto.com and Coinbase prioritize the safety of their users' funds and employ multiple industry-standard security measures.

Coinbase vs Crypto.com cryptocurrency exchange overall score comparison reveals that Coinbase has a higher overall score of 9.1, while Crypto.com gathered an overall score of 6.0.

Crypto.com has more than 250 coins and serves as a marketplace for non-fungible tokens (NFTs). With so many coins and tokens available, it's a great starting place for most beginners. However, if you're in the U.S., you must use the Crypto.com mobile application.

Cryptocurrency Is Not FDIC Insured

If a bank fails, the FDIC insures deposits. Investors should know that if their crypto exchange goes out of business, no government agency will make them whole. That's different from a bank, where the government insures funds up to account and institution limits.

Can I transfer money from Crypto com to my bank account? ›

Fiat Wallet - USD Withdrawal via ACH | Crypto.com Help Center. Crypto.com users can withdraw USD from the App by selling crypto to their USD fiat wallet and transferring USD funds from this wallet to their U.S. bank account(s) on the ACH network.

Apart from standard miner fees, Crypto.com charges about $0,25 in the token you want to withdraw as withdrawal fees. In the case of a fiat bank transfer withdrawal, as of writing this guide, a $50 administration fee will be applied, but it may change in the future.

The potential for earning money through cryptocurrency trading is significant, but it is important to understand the risks involved and the market factors that can affect earnings.

1. Buying and Holding: This strategy involves purchasing Bitcoin or other cryptocurrencies and holding onto them in the hopes that their value will increase over time. If the price goes up, you can sell them for a profit.

To make a withdrawal:

Open the Crypto.com App and go to "Accounts" Open your Crypto Wallet. Press the "Transfer" button. Press "Withdrawal"

Crypto.com is a safe investment for beginners depends on several factors: Regulation: Check if Crypto.com is regulated in your jurisdiction. Security: Assess the platform's security measures, such as 2FA and cold storage.

The people working in crypto.com is what I disliked the most. Worse customer service and the most expensive crypto app to hold. Which can be a hastle as the fee is floating and not a fixed price. It's difficult to get exactly that 30 dollars without having to change the price a few times and that is highly annoying.