Originally called Monaco technologies, Crypto.com offers users an all-in-one cryptocurrency platform that suits both beginners and experienced investors. Their all-inclusive Crypto.com Exchange allows users to buy, sell, and trade a wide range of different cryptocurrencies at competitive rates. It even offers its own CRO coin for anyone interested in investing or staking with that currency.
The Crypto.com App is available for both desktop and mobile. You can start using it to trade cryptocurrency via its exchange or its own DeFi wallet, depending on your preference.
The Crypto.com Exchange has a lot of perks for most investors, making it more like a bank rather than just an exchange or brokerage. It’s not the most intuitive design, and its layout could confuse some beginners but its good selection and strong security still helps beginners ease into investing using crypto.
The exchange also makes it easy to convert fiat currency into crypto, accepting over 20 different kinds including the most commonly used ones like USD and EUR. No need to pay hefty fines for the transaction either, though note that depending on where you live, your choice of currency may be limited.
You can easily deposit money into your Crypto.com account via electronic bank transfer or wire transfer without the hassle of high fees. It also lets users buy and sell cryptocurrencies at its true cost, offering great value for money as an exchange.
Beyond the first 30 days, Crypto.com will now charge a fee for crypto purchases made with credit/debit cards on the Crypto.com App. Take note that your card may also charge a cash advance fee for the transaction.
The Crypto.com App helps account holders earn high rates of interest up to 14%. Note that you’d need to keep a lot of cash in CRO in order to qualify for these perks. Ultimately, it will still depend on how long you leave the money and the amount of CRO staked. There are other means of increasing the interest rate earned:
Of course, keeping a lot of savings in crypto carries its own level of risk as the market is very volatile. You also don’t get any FDIC insurance compared to regular accounts. Always keep these risks in mind before investing massive amounts of money in crypto.
Take full control of your cryptocurrency and access a full suite of DeFi services! Easily manage over 100+ coins while keeping your keys secure with the help of Crypto.com’s Wallet! With this service, your security takes top priority thanks to Secure Enclave, Crypto.com’s security feature that helps protect your keys via Biometrics and 2FA.
In order to start depositing, withdrawing, and exchanging cryptocurrencies, you need to be verified at either the starter or advanced level. In order to be verified, you simply need to provide more information for KYC compliance.
There’s two primary levels available when it comes to using Crypto.com’s App and exchange.
Reaching this level of verification allows users to start with the basics. It unlocks the ability to deposit, trade, and withdraw crypto up to a limit of $5,000 USD per day.
To reach this level, you need to provide the following information:
It enables the same perks as the starter level. This time, withdrawals in cryptocurrency will have a limit equivalent to 100 BTC per day.
It also asks for the same requirements albeit this time, they also need:
Most Crypto.com App users connected to the exchange are at this level of verification.
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