Commissions when using Crypto.com – what is an exchange and a cryptocurrency wallet? How to place a deposit without registration? Is verification required?
Crypto.com is a cryptocurrency platform that offers numerous opportunities for its users. It allows you to store, transfer, and exchange between more than 100 cryptocurrencies and traditional currencies such as EUR, USD, GBP, PLN and offers 20 different payment methods. Additionally, with a Crypto.com Visa card, it is possible to pay with cryptocurrency almost anywhere in the world. Is it worth using Crypto.com? Here, you will find out the most important information about this platform.
Exchange Crypto.com – general information
Crypto.com was founded in June 2016 (under the name ‘Monaco’). Its headquarters is based in Hong Kong, and it employs over 900 people worldwide. The platform is best known for its debit card, which allows you to use cryptocurrencies for purchases just as you would using standard debit cards.
Additionally, there are other features available through the Crypto.com exchange, such as:
• The Crypto.com App – a convenient app for buying and selling cryptocurrencies. It is also used to receive, send and store cryptocurrency;
• Crypto Earn – enables earning up to 12% interest on deposits;
• Crypto Pay – allows you to purchase gift cards from many well-known brands, top-up your phone with cryptocurrencies, and pay using cryptocurrency at retailers that accept cryptocurrencies such as Bitcoin;
• Crypto Credit – allows the possibility of receiving access to funds on the Crypto.com Visa card in exchange for a deposit in a chosen cryptocurrency;
• Crypto Exchange – a cryptocurrency exchange accessible through a web browser.
It is worth noting that the popularity of the Crypto.com exchange continues to grow – according to data from the platform’s official blog, there were 10 million registered users in February 2021.
The browser and mobile-based wallet on the Crypto.com exchange
The Crypto exchange allows users to buy and sell via the app or through a web browser. Using the mobile wallet, users have access to over 100 cryptocurrencies, including the popular Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), or Litecoin (LTC). Exchanges can be made in various ways – both using traditional currencies such as buying LTC for USD, but also exchanging cryptocurrencies with each other. The application also provides an opportunity to track the exchange rate of hundreds of currencies. This allows you to check any changes conveniently. You can also set up notifications in the Crypto.com App. You can additionally buy cryptocurrency gift cards through the app (via the Crypto Play service).
The beta version of the browser-based wallet on the Crypto.com exchange was launched in 2019. Importantly, if the user is already using the mobile app, the registration process will be quicker. In the browser wallet, you can exchange the same cryptocurrencies as is the case with the mobile app. It is worth knowing that when you deposit 5000 Crypto.com Coin (CRO), you gain access to Syndicate’s sales sessions. This allows you to buy cryptocurrencies to be added to the exchange at a discounted price. In some cases, you can buy a cryptocurrency at up to a 50% discount.
With the Crypto.com exchange platform, users also receive up to 4% interest on cryptocurrency balances in their exchange wallet, with no lock-in period. To obtain this, you need to enable this option in the settings. The condition is to maintain the minimum required amount in the Crypto.com wallet.
Fees and commissions on the Exchange Crypto.com
Opening an account on Crypto.com is entirely free. There is a €5 fee for a Visa debit card, but only if it has not been used at least once in 12 consecutive months. The commission on cryptocurrency exchange depends on the number of transactions executed – the more transactions, the higher the discount.
For “maker” transaction orders, the fee is just 0.1% of the value of the transaction. For “taker” transfers, the commission is a little higher at 0.16%. It is worth keeping in mind that you can reduce the amount of fees you are charged. One way is to hold 10,000 Crypto.com Coin currency tokens (CRO). Thanks to this, the commission can be reduced by 20%. Moreover, new account holders on this exchange are not charged for selling or buying for the first three months of using the platform.
Registration, verification, and logging-in on Crypto.com
Registering on Crypto.com exchange is very easy. Just go to the home page, select the exchange tab and click the “Registration” button. Then fill out the registration form and accept the required agreements. After entering the necessary details, select “Create Account”. A one-time code (OTP) will be sent to the e-mail address provided. You will be asked to read and enter the code in the space provided. You will also be asked to create a password. Finally, you confirm the changes.
Verification at the Crypto.com exchange is done using a phone number. Choose the area code from the list and then enter the contact number. The platform will send an SMS with a verification code. Just enter it in the appropriate field and confirm. To unlock advanced features, you will need to upload a selfie and a scan of your ID card.
What opinions does the Exchange stock Crypto.com market have? What do they write on the forum?
Crypto.com has an excellent reputation among people involved in cryptocurrency exchanges. It is not just another cryptocurrency debit card, but, first of all, a comprehensive service related to these modern currencies. Buying and selling are seamless, both through the mobile app and the browser-based wallet.
The previously mentioned Crypto.com Visa card provides competitive cashback opportunities – 2% cashback on all card spending and 100% discounts on Netflix or Spotify subscriptions.
Crypto.com exchange users appreciate the range of opportunities the platform provides. There is also a lot of trust in the platform’s support, which quickly resolves problems when exchanging cryptocurrencies.
Payment and withdrawal to the account – Exchange stock Crypto.com
The most convenient method of making deposits and withdrawals on Crypto.com exchange is by using the mobile app. To deposit funds, select the chosen cryptocurrency and copy the wallet address. Next, use the Coinbase app (or a similar one), open the “Accounts” tab, and select the same currency that you selected in the Crypto App. The next step is to press the envelope or plane symbol, enter the value you want to send to the wallet, and click “Next”. Paste the copied wallet address into the recipient field and select “Next” again. Finally, all you have to do is confirm the transaction. That’s all – the funds may appear on the account even within a few seconds.
Withdrawing cryptocurrencies is equally simple. You need to open the Coinbase app (or similar) and select the “Accounts” tab and the currency in question. Next, you need to choose the “QR Code” and “Copy Address” options. The next step is to go to the Crypto.com application and choose the transfer option (“Withdraw”>”Crypto”>”External Wallet”). Click “+ Add Wallet Address” and paste the copied address from the Coinbase app. After validating the address, press the “Send (Crypto)” button. Finally, enter the transfer value and confirm the operation.