The Crytpo.com is well-reputed for providing astounding services regarding cryptocurrencies. The crypto.com provides you almost everything you need to trade in cryptos. The facility of their debit card in collaboration with VISA, lets you apply for a crypto loan and many more services like this. As most of the people are not completely familiar with this website. This article aims to shed light on every aspect of this website you need to know for trading cryptos. The complete information about this website will surely change your trading style. You will leave the older platform to come here for efficient and profitable crypto trading.
Crypto.com is one of the finest crypto exchanges available today.
The History of Crypto.Com:
Matt Blaze owned and registered this domain in 1993. He was a cryptographer at AT&T and played a key role for them. He was assigned a job to use cryptography for the security of many computer systems. However, at that time, he never thought the crypto can get a monetary role in the coming days. Currently, Matt is a scientist at Georgetown University. He is also a member of the board of directors of the Tor Project.
Monaco Coin bought this domain in 2018 from Matt. A smart promotional campaign was run by the company for Cryto.com. Their main goal was to play a big role in cryptocurrency and its adoption. Crypto.com uses the infrastructure of the parent company. The company fulfills the needs of customers by paying in cryptocurrency. They are in collaboration with VISA for this purpose. But they provide debit cards only and no credit cards yet.
Crypto.com launched its exchange by the end of 2019 to get a bigger market share. The company has also launched a separate wallet app where users can access their private keys. Their app is launched in 2020. They are progressing and getting better each day. It started from a simple security domain and now reached a level where it got prominent monetary value in the market. It seems that they will grow even further in the future.
Update 2020: Crypto.Com Swaps MCO to CRO:
The company used Crypto.Com Coin (CRO) and MCO as tokens in the past. The company decided to update and swap MCO to CRO in August 2020. The wizard can help to do it easily in the app. The users are allowed to swap to CRO till November 2, 2020. Users can get a 20% bonus by carrying out the swap before September 2, 2020. The exchange rate fluctuations do not alter the bonus because it’s amount is fixed. The users will have to use CRO to become eligible for lending and borrowing through a debit card.
What Is Crypto.Com?
Crypto.com is a platform that allows you to make payments in cryptocurrency instead of fiat currency such as the dollar, euro, etc. They are in collaboration with VISA. Hence, you can make payments anywhere in the world and enjoy the bonuses and rewards as a conventional cardholder. You can do more than just crypto trading on this platform. You can earn CRO by cashback programs. Crypto.com gives you 100% cashback on subscriptions of Netflix, Spotify, etc. You can also get 10% cashback on purchases with AirBNB and Expedia. You can make payments to all those shops which accept VISA.
Crypto.com lets you manage your money according to the latest trends. You can work with existing cryptocurrencies that are dominant like BTC, ETH, and XRP, but the company has its cryptocurrency too. For your ease of use, they also allow payments in dollar and euro but their primary goal is to increase the adoption of cryptos.
This is how the Crypto.com exchange looks like. The latest graph of BTC/USD is displayed here.
The Top Reasons to Choose Crypto.Com:
The following reasons can be significant to choose crypto.com for payments:
- It allows crypto trading through the app
- Provides spot exchange to professional traders
- Supports crypto debit card by which you can win a lot of cashback
- You can earn up to 18% annual interest by crypto staking
- It allows you to perform the quant trading and submit credit applications to different companies
- You can manage your wallets and keys on crypto.com on fingertips
How Do You Create a Crypto.Com Account?
Making an account on crypt.com is as easy as ABC, using the app. Open the app and it will ask about your full name, ID, and a selfie to verify your ID. After this, you will have to verify your identity. It is mandatory to verify your identity.
You can visit the website to install the app and then go further through the app to make your account. The verification process is very simple. Remember, you just need to send a clear picture of yourself. You will have to wait until the process is completed. The completion of the process can take from just a few hours to a full day. You will receive a confirmation email regarding your successful signup. Now, you are ready to access the app for what you want to do.
Working of Cryto.Com:
As you have successfully made your account on Crypto.com and ready to use it, you will be keen to know about its working features. You can only use the services of crypto.com when you deposit the credit. You can deposit the money in both crypto and fiat currency. Now we will discuss its working in detail.
You will find an option of “Transfer” on the homepage of the app. From there you can transfer any amount in any form i.e. the fiat or the crypto, totally depends upon your choice. One tip should be kept in mind to avoid the unbearable loss. You should check thrice the wallet address and selected coin. Once you have made the transfer, it will not be possible to reverse the transaction. Otherwise, you’ll lose the money and it will hurt you only for no good reason.
You can pay through fiat currency at this stage of you don’t have any cryptocurrency. You can go for a bank transfer to transfer currency to crypto.com. But this process can take up to 5 working days; so be mindful of that.
Trading Crypto Via the App:
Buying cryptos is also a simple process like depositing the money on your account. Click the “Buy” option to start the trading. There are three options available to buy cryptos:
- You can consume the amount available in your crypto wallet.
- You can pay by credit card or bank account.
- You can use your fiat wallet to continue the transaction.
You will have to pay a 3.5 % handling fee every time you purchase cryptos by paying through the card. You pay this fee to the card issuer, not to crypto.com. The conventional bank transfer is completely free. It is completely up to you to choose the right cryptocurrency and the right method for yourself. After selecting this, click buy and that’s all, you are done with the whole process. In the same way, you can sell your cryptos by click in the “Sell” button. The process of selling cryptos is also as simple as buying.
Crypto.com is available in the app. Now you can trade in cryptos easily via this app.
Earn Money with Crypto Staking:
You can earn money on Crypto.com using various methods. In the first way, you can invest in this platform to earn profits. You can also lend money to the website to utilize it to earn your annual profits. You can stake the cryptos and earn the returns without much effort. You have many options to save the coins but native CRO provides the highest returns. You have to save 10,000 CRO to achieve the highest annual returns.
How to Stake CRO On Crypto.Com?
Following is the guideline about staking CRO on crypto.com:
- Open the app and enter your pin code.
- You should have a minimum amount of crypto on your account (different coins have a different minimum amount range).
- Go to the main page of Cryto.com.
- Click on “Earn” and then on plus-sign.
- Chose the currency you are going to stake.
- Select the period you want to stake.
- Read the terms and conditions and accept you are happy with it.
- Choose the exact amount you want a stake.
You can earn more interest by staking for a longer period but higher will be the risk. You can invest 10,000 CRO to qualify for higher interest. It is about 1650 USD in 2020. It is quite a big investment.
You will have to pay 9% profits if you stake 10,000 CRO or more. If you stake less than the standard amount, you will have to pay 18% of your profits.
Final Words- Is Crypto.Com Safe to Use?
Crypto.com is a safe platform for staking and trading as well. You can trust their services for many reasons. The partnership between Crypto.com, Ledger, and VISA indicates the highest quality services for the customers. The best thing is, they don’t compromise on security issues. It has developed as Binance but it has a smaller team. It is trying to adapt according to the needs and demands of the market.
To see more what they offer to check out Crypto.com
If you use referral code 6uth38mecw then you are also eligible for getting $50 worth of crypto. It only works for new users.
If you liked this article please consider reading also what are the best places to buy XRP with credit card.