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Trading Exchange crypto.com

The crypto.com offers a complete cryptocurrency exchange engine. This is suitable for those who want to trade cryptocurrencies with the aim of profiting from the ever-changing exchange rates. This can be in the form of day, swing or even long term trading.

In terms of what you can trade, crypto.com focuses exclusively on crypto cross pairs. That is, you will not be able to trade cryptocurrencies against fiat currencies such as the US Dollar or the Euro. You can, however, trade a variety of pairs that contain USDT.

For those who don't know, USDT (Tether) is a digital token indexed to the US dollar. With that in mind, USDT-backed pairs at crypto.com allow you to trade Bitcoin, Ethereum, Ripple and many other projects against the dollar in all names.

I should also note that crypto.com offers plenty of markets against the CRO token. Although I cover this in a little more detail later in this review - CRO is a digital currency native to the crypto.com platform.

In terms of the trading suite itself - there is no need to download any software. Instead, you can trade through the crypto.com main site. Additionally, the crypto.com offers a mobile app which, again - I'll cover in more detail shortly.

TRADING FEES

When it comes to trading fees, crypto.com utilizes a 'maker' and 'taker' system.

• For all intents and purposes, when trading on crypto.com you are a market taker. This simply means that you use the liquidity that has already been provided.
• If you provide liquidity to Crpyto.com, you will be defined as a market maker.

As a market taker, your fees depend on how much you trade in a month. This starts at 0.16% - which is the commission for anything under $250,000 per month. This is billed at both ends of the trade - which is the industry standard. For example, if you bet $5,000, you will initially pay a commission of $8. If you exit your position when the order is worth $10,000, you will pay a commission of $16.

Is this competitive? Well, at 0.16% there are cheaper options on the market. Binance, for example, charges a base commission of 0.10%. On crypto.com you would need to trade a minimum of $100 million in a single month just to reduce your commission to that amount! eToro, on the other hand, does not charge any commission. This is the case when you trade cryptocurrencies via CFDs, as well as when you make a purchase in the traditional sense.

When it comes to market taker rates, this starts at 0.10% and goes down to a low of 0.04%. I must make it clear that your trading fees on the crypto.com exchange can be further reduced when using the CRO token. Simply put, it works very similarly to Binance Coin in that one of its main goals is to reduce the amount of commission you pay.

As long as you have at least 5,000 CRO tokens staked on the platform, you will receive a 100% reduction. In other words, you can trade cryptocurrencies 100% fee-free. At the time of this writing, the CRO was priced at $0.15 on CoinMarketCap - meaning that 5,000 tokens equals a face value of $750. Ultimately, this is more than reasonable if you you are a serious trader who is looking to access the crypto scene in a super cost-effective way.

crypto.com App (Buy Crypto and Wallet)

The next segment of the crypto.com platform that I looked to review was that of its cryptocurrency brokerage services which it claims – comes with no fees or increases. With that said, this service can only be achieved via the crypto.com mobile app. As such, this section of my review will explore some of the products and services that come with the app.

Before getting started, I should note that the app is free to download and is compatible with both Android and iOS devices.

WALLET

Firstly, the crypto.com app acts as a primary cryptocurrency wallet that allows you to store a variety of coins. This covers over 80 cryptocurrencies at the time of writing - covering the likes of Bitcoin, Ethereum, Ripple, Litecoin, Stellar and EOS. The wallet can only be accessed via your mobile phone - which means you cannot send or receive funds via your desktop device.

It is important to note that, unlike the vast majority of cryptocurrency wallets available on the market, crypto.com requires all users to go through a Know Your Customer (KYC) process. This means that you will need to provide a copy of your government-issued ID and therefore you cannot transact anonymously. If that's what you're looking for, consider the crypto.com non-custodial wallet - which I'll talk about later.

While you cannot store your cryptocurrencies anonymously, the overarching benefit of using a centralized wallet is that you have the means to regain access should you forget or lose your login credentials. This is because as an escrow wallet, crypto.com can help you access your account with ease. Also, this wallet allows you to make transfers without fees - as long as you are within the crypto.com ecosystem.

BUY CRYPTO

The crypto.com app allows you to buy all the coins the wallet supports - which, as mentioned above, covers over 80 projects. That's why you must go through a KYC process when loading the wallet through first time. There's nothing proprietary about being able to buy and sell digital currencies via a mobile app - so whether or not the crypto.com is worth considering for that purpose is largely dependent on fees and payment methods.

Here's what you need to know:

• Supported deposit methods include debit/credit cards and bank transfer - including SEPA
• When using a debit/credit card - most European countries benefit from free transactions. With that said, countries outside of Europe will incur a fee of between 1 and 3%.
• For you in the US, that's 1%. Even so, this is significantly cheaper than the 3.99% charged by Coinbase.
• There are no fees associated with bank deposits or withdrawals

products and platforms

crypto.com has an impressive product selection that continues to grow. Its portfolio is powered by the native CRO token and is highly geared towards ordinary investors looking to get the most out of their digital assets without spending too much on fees.

The crypto.com app

While its main selling point revolves around the MCO Visa card, the central access point to the crypto.com's services is its mobile app.

The crypto.com app is a custody wallet, investment and trading app covering a range of products that promote large-scale adoption of digital currencies.

With the app, you can buy and sell 55+ digital currencies, access 20+ different interest crypto accounts, control your Visa MCO card, get instant credit loans, participate in different CASHBACK and reward programs, and send coins and tokens for friends free.

You can also exchange fiat currencies, track currencies and send payments to other wallets.

You can apply for the Visa MCO card directly in the app itself. Applying for the card of your choice is painless and will only take a few minutes.

Another popular feature of the app is that it rewards you for inviting your friends. The company offers a lucrative referral program that offers worth of sign-up bonuses for you and your friend.

wallet crypto.com

Wallet is the integrated custody wallet and trading app of the crypto.com app. This is where you can store, buy, sell, deposit and withdraw your coins and tokens. Key features include:

• Buy and sell around 55 cryptocurrencies and execute your trade instantly as a market order.
• Track your balances and your gains and losses in real time
• Deposit or withdraw crypto and fiat currencies

crypto.com Earn

The Earn feature of the app contains the interest-bearing cryptocurrency accounts of crypto.com. Like BlockFi, Celsius and other crypto accounts, users can earn interest on their savings by betting for a short or long term, with flexible terms of one or three months available. Users can increase their winnings by holding a 500 MCO bet.

This includes up to 6% interest on popular digital instruments like BTC and ETH, up to 12% on stablecoins, and up to 18% on CRO, the company's native token.

As of July 2020, all verified app users except citizens and residents of Hong Kong SAR, Switzerland or Malta can use Earn. However, some currencies are not available in certain jurisdictions.

currently earn supports 22 coins and tokens and 8 stablecoins. This includes most large letter tokens as well as a number of small letters.

The following coins and tokens are available on crypto.com:

• ADA
• SOMETHING
• ATOM
• STICK
• BCH
• BNB
• BTC
• CRO
• SO
• ENJ
• EOS
• ETH
• GBP
• ICX
• KNC
• LINK
• LTC
• MCO
• MKR
• PAX
• PAXG
• TAUD
• TCAD
• TUSD
• USDC
• USDT
• VETERINARIAN
• XLM
• XRP
• XTZ

interest rates crypto.com

Interest for your earned deposit crypto.com is calculated as simple annual interest (APR or annual percentage rate), which means it is not compounded. All accrued interest will be credited to your wallet every seven days and will be paid in the same currency as your deposit. At the end of the term, your deposit will be transferred back to your wallet.

Your returns depend on three factors:

1. the deposited currency
2. the duration of the stakeout term
3. if you have an active MCO bet of at least 500 for the Visa MCO card.

crypto.com Earn offers three distinct stakeout terms for users to choose from:

• Flexible Stake: This is the most flexible plan, providing a low-risk savings solution that allows you to dip your toe in the water, so to speak, and essentially test the service. Bet your coins and win with the flexibility to withdraw at any time with no penalties.
• 1 month: You can increase your annual interest by choosing the 1 month plan. The 1 month plan involves temporarily locking your coins. However, this allows you to accrue more interest than with the flexible plan.
• 3 months: The 3 month plan allows you to earn maximum interest. While your savings may be locked during this period (as with the 1 month plan), you will receive the maximum amount of rewards.

When we compare the three-month no-bet interest rates for crypto.com Earn to its immediate competitors in 12 months, the results are mixed. If you're willing to make a commitment of 500 MCO, Earn is clearly the winner. However, your choice of interest account provider should not be determined by fees alone.

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