This Crypto.com review, will cover the rich features of this fast-growing exchange including the CRO token, staking, and VISA debit card.
Crypto.com Review: Introduction
Since the advent of bitcoin, individuals and organizations have found diverse unique ways to hasten its level of adoption. Since then, thousands of platforms and projects have been launched in the crypto-sphere. All this, to disrupt several industries and make cryptocurrency accessible to everyone across the globe. From a fair point of view, a great deal of progress has been made so far.
By offering many different features Crypto.com makes sure cryptocurrency becomes a household name in the world’s financial sector. Established in 2016, Crypto.com holds a long-lasting commitment to the crypto-sphere with a vision to accelerate the world’s transition to cryptocurrency. Aside from having one of the coolest domain names in the industry, they have a proven track record of providing unmatched services trusted by millions of users around the globe.
Recently, the platform made a major move to further bridge the gap between crypto and traditional fiat currency. Additionally, by launching an all-new exchange which comes with a lot of amazing trading features. The rest of this article provides a detailed review of the Crypto.com exchange.
This very young platform, recently introduced in 2019, provides a luxurious exchange with many additional features. Moreover, it’s fully engineered to provide users new and improved trading functions to ensure that they get the best trading experience. Also, this ultra-modern exchange is made up of a robust crypto-trading network fuelled by the platform’s native token, Crypto.com coin (CRO).
First of all, Crypto.com leverages cutting-edge technology to provide the best user experience. For instance, an advanced Vortex Liquidity System is designed to make sure that users get the best execution rates for every trade.
Furthermore, Crypto.com provides a decent user interface. Also, low trading fees as well as a top-notch security system. Specially designed to fend off all types of hack attacks.
Currently, the Crypto.com exchange has 38 market pairs on its trading list. In addition, it has plans to expand this list further in the coming months and years. Below is a comprehensive list of trading pairs available on Crypto.com.
Trading pairs available on Crypto.com exchange
|BTC||ETH, XRP, LTC, MCO, CRO, EOS, XLM, ATOM, LINK, XTZ, BCH, VET|
|CRO||ETH, XRP, LTC, MCO, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET|
|USDT||BTC, ETH, XRP, LTC, MCO, CRO, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET|
Crypto.com review: Pros and Cons
|✓ User friendly interface.||✗ Relatively low number of trading pairs when compared to other exchanges.|
|✓ Deep liquidity.||✗ High withdrawal fees.|
|✓ Low trading fees.||✗ Intricate referral program.|
|✓ Top-notch security.||✗ Long staking period.|
|✓ High interest rates.|
|✓ Data security and accountability.|
The CRO token
In the first place, the CRO token is the native token being used on the Crypto.com Chain. Also, this utility token was created to facilitate a cross-asset intermediary currency settlement. As well as a wide range of other transactions across the ecosystem.
The platform plans to disrupt the traditional fiat payment structure. For example, in recent years, they have been proven to be rigid, slow, and susceptible to various forms of a hack. However, the launch of the CRO token paves the way for a flexible and secure payment tool also backed by blockchain technology. Finally, this crypto.com review will deep dive into the details behind this native token.
CRO token: Numbers and details
|Circulation supply||16.603.196.347 CRO|
|Total supply||100.000.000.00 CRO|
In particular, CRO staking is made available on the web portal of Crypto.com just like it is being done on the Crypto.com app. Although, staking on the exchange comes with additional features and benefits.
For instance, staking CRO takes up to 180 days to complete and the staked CRO can only be withdrawn in full once the period is over. Also, users can choose to top up their staked token at any time if they want to earn more interest. However, any top-up made would automatically cause the staking period to reset. In other words, it restarts the 180 days countdown once a new amount of CRO is added.
Crypto.com review: benefits of staking CRO
Here are some of the amazing benefits users get to enjoy when they stake CRO on the exchange:
- A discount of up to 100% depending on the amount of staked CRO
- 20% APR interest paid daily
- Discount in the form of rebates on trading fees
- Direct access to the Crypto.com exchange Syndicate platform
The Syndicate of CRO exchange
Another interesting feature to review is The Syndicate program. Moreover, ‘The Syndicate’ is a fundraising platform set up by Crypto.com to help encourage new projects. Especially projects that show great promise by raising capital which will be used to fund the development of infrastructure critical to the growth of these projects.
In order to enjoy these benefits, projects will be required to provide an allocation of their own token. In addition, the token will be sold at a discounted price on the Crypto.com exchange. All the proceeds of the sale will be passed back to the projects. By doing this, Crypto.com can build a dynamic and sustainable crypto economy. It is important to note that only users who have staked CRO on the exchange can take part in the Syndicate token sale.
For more information on the Syndicate Program, visit here
MCO Visa card
In September 2019, Crypto.com moved the crypto industry a step further in its journey to attain global adoption by introducing the MCO Visa Card. Moreover, the MCO Visa card is a crypto-to-fiat card designed to allow users to buy real-world products with cryptocurrency. Also, users can download a mobile app to spend their mighty cryptos.
Currently, this debit card accepts nine different cryptocurrencies and five fiat currencies. Also, you have the option to choose one of them as the base currency for your card. The MCO Visa card was designed to work like the conventional debit cards we all use to facilitate transactions on a daily basis, but unlike other debit cards, this unique card offers much more flexibility and competitive fees.
Finally, users who intend to get the MCO Visa card will only have to stake a stipulated amount of MCO tokens on the Crypto.com app. Additionally, depending on the kind of cards they want. Currently there are 5 types of cards available to review, each with unique features.
Overview of all types of MCO Visa Card
|MCO Visa Cards||Features and Benefits|
|MCO Midnight Blue Card||Free i.e. does not require users to stake any MCO 1% cashback for MCO and non-MCO token holders. No additional fees for withdrawal below $200 and exchange below $2000. Daily withdrawal limit of $500Daily POS purchase limit of $10000|
|MCO Ruby Steel Card||Requires users to stake 50 MCO for six months 2% cashback on every purchase 10% referral commission. Free Spotify Subscription. No additional fees for withdrawal below $400 and exchange below $4,000. Daily withdrawal limit of $1,000Daily POS purchase limit of $15,000|
|MCO JadeGreen/ Royal indigo Card||Requires users to stake 500 MCO for six months 3% cashback on every purchase. Loungekey™ Airport Lounge access, free Spotify, Prime, and Netflix subscription. No additional fees for withdrawal below $800 and exchange below $10,000. Daily POS purchase limit of $25,000|
|MCO Icy White Card||Requires users to stake 5,000 MCO for six months 4% cashback on every purchase. Loungekey™ Airport Lounge access for two Free Spotify, Prime, and Netflix subscriptions. 10% off your Expedia bookings. No additional fees for withdrawal below $1,000 and exchange below $20,000|
|MCO Obsidian Black Card||Requires users to stake 50,000 MCO for six months 5% cashback on every purchase. Loungekey™ Airport Lounge access for two Free Spotify, Prime, and Netflix subscriptions. 10% off your Expedia and Airbnb bookings. No additional fees for withdrawal below $1,000. No additional fees for all Inter-bank exchange|
For more information on how to apply for the MCO Visa card visit here
The Crypto.com Pay program
In particular, Crypto.com Pay is considered one of the most ideal payment channels for merchants. However, only for those who intend to get paid in cryptocurrencies for their goods and services. Furthermore, through this new payment channel, it’s possible for customers to pay for goods and services with cryptocurrencies using the Crypto.com Wallet App.
By reviewing this feature, I think the most fascinating aspect of this service is that the integration process is quite straightforward. For example, it doesn’t require you to possess any prior knowledge on how to go about it. Also, making purchases wouldn’t pose much of a challenge to your customers because they will only have to go through a few steps, just like every regular online payment process.
For more information on how to make purchases with Crypto.com Pay visit here
Crypto.com Credit Program
Another interesting subject to review is the Crypto.com Credit program. In particular, the Crypto credit feature enables users to secure an instant loan on the Crypto.com app. Additionally, users can make a deposit that can be used as collateral. Besides, acquiring a loan on this platform is stress-free and considerably easy compared to other platforms. Especially, because most platforms require you to meet a credit score before granting any loan. Crypto.com credit loans attract low-interest rates and users can get loans of up to $1,000,000. These loans are currently issued out in only four currencies now. They are TUSD, PAX, USDC, and USDT.
Notably, repayment of loans is required to be made in the same currency as that which credit was received. In addition, failure to repay the acquired loan within the stipulated period given will cause your collateral to be liquidated.
For more information on how to acquire a loan from Crypto.com Credit, visit here
The final feature to review would be Crypto.com Earn. The Crypto Earn service provides users the opportunity to earn cryptocurrencies by accruing daily interests from their initial deposits. Additionally, to enjoy this service, users must visit the Crypto.com app first.
The next step will be to click on the “Earn” button, select their preferred terms, and choose the type of currency. With this currency users are allowed to make deposits (although some restrictions apply within certain regions). Once the deposit is confirmed, interests will start to accrue immediately.
Users can make multiple active deposits as far as they don’t exceed the required threshold for all combined deposits. Users could receive interests of up to 18% based on the kind of investment plan they choose.
For more information on Crypto.com Earn, visit here
Video Review on Crypto.com exchange
In recent years, we have witnessed how cryptocurrencies and blockchain technology are being leveraged to achieve progress in virtually every sector of our lives. Recent happenings across the globe all point clearly at the fact that the world is gradually moving towards an era driven by digital currencies. Thanks to platforms like Crypto.com, this digital revolution is happening sooner than we all expected. Finally, to end this Crypto.com review, I hope you have a clear vision of all the features available on their platform.
DISCLAIMER: Trading in cryptocurrencies involves substantial risk of loss and is NOT suitable for every investor. Any content on this site should not be relied upon as advice or misconstrued as providing recommendations of any kind. We are not investment advisors or analysts. Everything provided here is purely for informational and educational purposes.
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