The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. It is not intended to offer access to any of such products and services. You may obtain access to such products and services on the Crypto.com App.
Crypto.com is a prominent cryptocurrency exchange with support for a range of crypto assets and blockchain-related products. Users can buy, sell, and trade an extensive list of currencies, and enjoy relatively low trading fees. Additionally, the company offers cryptocurrency credit cards, a decentralized exchange, a standalone crypto wallet, and an NFT marketplace. It also allows users to stake their crypto, or hold it in a Crypto.com wallet for a set period, to earn up to 14.5% interest.
How do I purchase cryptocurrency in the Crypto.com DeFi Wallet through the Crypto.com App?
Also, keep in mind that you shouldn’t devote a substantial portion of your investment holdings to any one cryptocurrency to begin with. Crypto.com is a high-profile player in the world of cryptocurrency, thanks in part to celebrity endorsements and buying the naming rights to the former Staples Center in Los Angeles. Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations.
The only people you can trust for storing your crypto assets is yourself. If you hold a significant stake in CRO, the company rewards you with lower trading fees, higher staking interest rates, and higher credit card rewards. Crypto.com keeps it simple using the maker-taker model, with rates ranging from 0.04% to 0.40% for maker fees and 0.10% to 0.40% for taker fees. Coinbase charges maker fees ranging from 0.00% to 0.40% and taker fees ranging from 0.05% to 0.60%. This makes Crypto.com cheaper for most customers who will fall into the category of the highest taker fee.
New Crypto.com accounts are verified using your name, a picture of your photo ID, and a selfie. After that, you’ll need to link a payment method, such as a bank account. In contrast, Crypto.com provides several products, and the website can be overwhelming at first glance. Beginners new to trading may feel more comfortable using Coinbase until they understand the terminology and types of transactions supported.
It’s likely best for those who are somewhat comfortable with online financial products and won’t need much assistance. Higher-volume traders can qualify for fees as low as zero as a maker or 0.05% as a taker without CRO staking. Discounted trading fees are available when you hold at least 1,000 CRO in your wallet. At that point, traders with up to $250,000 in monthly volume pay 0.0728%. Each platform features a digital wallet with excellent security features, including multi-factor authentication and address whitelisting. Whitelisting is sometimes mandatory on the Crypto.com wallet and always optional on Coinbase.
Coinbase charges maker-taker fees of 0.40% and 0.60%, respectively, on the same transaction. The coin, as the native asset of the chain, is primarily used as a form of payment. CRO can be used to stake on Crypto.com for interest, for payments and to earn rewards. You can buy CRO tokens for your investment portfolio, exchange them for other currencies and tokens or use them to make purchases. You can also earn CRO as a reward when you make purchases with the Crypto.com Visa prepaid debit card or receive CRO cashback for sending CRO to friends. This last step isn’t mandatory but can be a smart idea if you’re planning to hold your CRO for the long term.
- The Cronos chain hopes to make the crypto payment process seamless, powered by a variety of services.
- New Crypto.com users without any CRO staking will pay 0.075% on trades with a total monthly trading volume of less than $250,000.
- Fully verified users can deposit funds and make withdrawals up to Crypto.com’s daily and monthly limits.
- Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions.
- Although Crypto.com has a slight learning curve, the website and app are user-friendly and easy to navigate.
- By moving your coins off of an exchange and into a separate crypto wallet, you help better protect your investments.
If current and subsequent marketing campaigns prove to be successful, CRO’s price may appreciate. Because Crypto.com is spending a great portion of its capital on marketing, these campaigns may be a make-or-break factor for the coin. You have a few ways to buy CRO, depending on what’s available with your exchange. The simplest way is to transfer fiat currency, like U.S. dollars, onto your exchange that you can then use to buy CRO directly. If you already have crypto, you may be able to transfer these coins onto the exchange and then trade them on directly for Cronos tokens.
Crypto.com vs. Coinbase
Exchanges were reviewed on points including security, fees, number of cryptocurrencies available, and more. We also considered if the exchange is regulated by a proper agency or entirely decentralized. Our full cryptocurrency exchange methodology, including the review process and weighted data points, is available for review. Crypto.com and Coinbase are both popular exchanges in the United States. Compared to Coinbase, Crypto.com offers a more extensive list of tradable assets and lower trading fees.
For those looking to buy and hold currencies like Bitcoin and Ethereum, Crypto.com could be a good choice. Fees are limited to 0.40% and decrease with high trading volume or a significant holding of the CRO currency. Crypto.com currently supports 250 currencies and offers advanced order types, and you can also trade crypto futures on its platform. Investopedia is dedicated to helping those interested in cryptocurrency investing make informed and safe decisions. We are committed to providing our readers with unbiased reviews of the top cryptocurrency exchanges for investors of all levels. However, if you have a basic understanding of cryptocurrency and want to stake CRO, you can take advantage of many benefits on Crypto.com.
- Once approved by the exchange, you’ll be able to start buying Crypto.com.
- Coinbase charges maker fees ranging from 0.00% to 0.40% and taker fees ranging from 0.05% to 0.60%.
- Of course, it’s also important to use a strong password and personal online security practices to help protect your account.
It also means you can send your cryptoassets wherever you want, whenever you want. Users can send and receive the asset to store in their wallet or stake the token to earn interest directly from the wallet. These dynamic uses, combined with Ledger’s security, make Ledger a great option for holding CRO.
Crypto.com vs. Coinbase: Ease of Use
To buy Crypto.com on exchanges, you’ll first need to create and validate your account by giving some personal information data. Once approved by the exchange, you’ll be able to start buying Crypto.com. Poor customer service is fairly common among cryptocurrency exchanges, and Crypto.com isn’t any different. It’s generally a good idea to consider Crypto.com to be a self-service website, as customer support isn’t necessarily helpful.
Fully verified users can deposit funds and make withdrawals up to Crypto.com’s daily and monthly limits. High-volume traders and those with a large CRO stake can qualify for fees as low as 0%. The long list of currencies, low pricing, and additional features make Crypto.com suitable for beginner to advanced cryptocurrency users. Yes, Crypto.com and Coinbase are safe and use security measures that are industry-standard or above for U.S.-based residents.
By contrast, many custodial crypto wallets impose severe restrictions on what you can do with your crypto. For example, you may be asked to register an address before sending crypto to it, and you may be required to wait several days before being allowed to make a withdrawal. If you’ve been deemed a security or fraud risk, for example, you may be locked out of your account with no recourse to action. You may also be able to finance purchases with a debit or credit card, though this will likely be the most expensive way to purchase crypto. Not only will you pay higher fees than you would otherwise on the exchange, but you’ll also probably be charged fees from your credit card company, making such purchases pricey and risky.
Crypto.com was founded in 2016 by several prominent software engineers and businesspeople in Hong Kong. The project quickly gained steam and now supports more than 10 million users. CRO has a number of advantages compared to the typical cryptocurrency, especially considering the substantial marketing resources of Crypto.com. If you’d prefer a different platform, beginner-friendly Coinbase can be an excellent place to start, and KuCoin and FTX also support CRO trading.
Users can hold onto USDC to earn a 0.15% annual percentage yield (APY). Although both platforms are popular, but Crypto.com is cheaper for most users. Crypto.com is cheaper for low volume takers which is what most users will fall into. However, at some points in the fee schedule Coinbase comes out cheaper depending on your trading volume.
It’s the easy-to-use, self-custodial crypto wallet trusted by millions. CRO’s price movements have largely been driven by marketing campaigns and hype. While these aspects provide an opportunity for short-term gains, the long-term outlook is less clear. Crypto.com is by no means the largest player in the crypto exchange space. If its marketing campaigns fail to provide positive results, the coin’s price may suffer.
Coinbase keeps 98% of cryptocurrency in cold storage, whereas Crypto.com says it stores 100% in cold storage. Most peer-to-peer crypto exchanges integrate a reputation system, meaning they track and display the trading history of their users. If you’re looking to buy using a P2P exchange, you’ll want to choose sellers who have a good reputation, meaning they’ve completed several trades and never had a complaint. Beyond that, exchange services charge additional fees for facilitating trades.
Both platforms require investors to decide how much to purchase and show fees before the trade is finalized. Crypto.com and Coinbase use similar verification methods once users sign up for an account. Once the account is verified, investors can deposit money via ACH, wire transfer, PayPal, or a credit or debit card. We evaluated both exchanges on supported currencies, fees, special features, and security.
Although Crypto.com is based in Singapore, where some rules may be different, it prioritizes security equally to Coinbase. Both exchanges are well known in the space and employ bug bounty hunters to root out potential security issues. Understand the different wallet types and their respective pros & cons. It also offers several decentralized finance (DeFi) features that can increase the amount of ways your crypto can be used. In March 2021, the project raised $200 million in a venture capital funding round. This money was largely used to fund marketing campaigns and helped increase the number of users on the platform.
Perhaps you just get into cryptocurrency by purchasing coins on an exchange platform but didn’t even realize that they hold the private keys to your cryptocurrency. In addition, investors can stake their CRO with Crypto.com to help the network verify transactions. In exchange, they receive interest as well as additional account benefits, like a rebate on trading fees. Like other cryptocurrency exchanges, customer service isn’t a strong suit for Crypto.com, so plan on a primarily self-service experience. If you’re comfortable with that, Crypto.com could be a suitable option for your needs.