If you’re a cryptocurrency trader, you’d definitely need a crypto exchange to buy or sell your crypto assets. Today, my discussion would be on the Crypto.com exchange that you can easily utilise to trade your favourite cryptocurrencies in the UK. Crypto.com is an international cryptocurrency exchange to keep an eye on. It’s been 5 years, the platform offers a relatively high actual exchange rate in comparison to competing brands. It is one of the best marketplaces for market participants who’re looking for a secure, robust, and low-cost trading service. It is suitable for passive traders who do not require constant trading and mobile users who want to perform trades on their smartphone devices.
An Overview Of Crypto.com
Crypto.com is a prominent cryptocurrency exchange in several countries, including the United Kingdom, the United States, Canada, and Singapore. To determine whether the platform is right for your own interests, I recommend that you read our in-depth Crypto.com review UK.Crypto.com exchange allows its subscribers to trade more than 250 cryptocurrencies. They can access crypto spread betting products, start trading NFTs, farm DeFi tokens, and have absolute authority of a safe crypto wallet to store their assets.
Exciting Features Of Crypto.com
1. Cashback Visa Card
Crypto. com provides its members with a prepaid Visa card that functions similarly to a rewarding debit card and allows you to invest your virtual currency assets more simply. Though it is open to everybody, it gives more profit to those who own the native cryptocurrency of this platform i.e. CRO.
The Crypto.com Visa Card offers reward categories and if you hold more CRO coins, you’ll get more rewards. So, the reward depends on the number of CROs you possess. Each often offers refunds for specific sorts of services, such as Spotify, Netflix, or even Airbnb, as well as some number of free Cash withdrawals and anywhere from 1% to 8% cashback reward points.
While that last % is undeniably enticing, it is actually reserved for the most dedicated crypto fan, enabling you to invest £300,000 in CRO coins.
2. High interest rates
Making money with Crypto.com has become very easy. You can make big bucks by simply lending your cryptocurrencies to others. Borrowers can then use their debts to validate transactions for proof-of-stake currencies or for other uses.
You may start earning up to 14.5 percent on annual basis on the money that you deposit for more than thirty cryptocurrencies with Crypto.com’s Earn scheme, based on the cryptocurrency you choose to lend and the quantity of CRO you have in your account.
Prices may change, but crypto.com allows you to lock your asset’s price for up to three months. You can simply refuse to commit to a time frame and retrieve your coins anytime you wish.
While these interest rates beat traditional savings account rates, they are risky since they are not covered by the Financial Services Compensation Scheme. You will also receive simple interest, which implies that your gains will not grow over time.
3. Crypto.com Wallet
Nowadays, keeping crypto assets in a secure crypto wallet is critical. There have been several reports of thieves attempting to gain access to your money in cold storage. While you can purchase, sell, and keep your coins through the Crypto.com app, which serves as your custody, you can also acquire access to a non-custodial wallet, which provides you more control.
You have absolute control over your cryptocurrency and secret keys with the Crypto.com DeFi Wallet. These keys are protected on your device with the Secure Enclave technology and protected by biometric and two-factor authentication.
4. Crypto.com Mobile App
The Crypto.com app is compatible with both iOS and Android. It is very intuitive and has a broad variety of features and functionality. You may manage your current investments, see your wallet, and buy additional cryptos at a genuine cost while on the go.
You may use the Crypto.com app for beginners to buy cryptocurrencies using fiat currencies, or the Crypto.com exchange app for more trading features and tools.
While using the software, you can also browse charts of several crypto pairings and do technical price chart analysis. To use the Crypto.com applications, you must first be validated. The applications are also quite secure since they use two-factor authentication.
The Crypto.com app got a 4.4 rating at the time of writing when 19,000 ratings in Apple’s App Store were given.
5. Crypto.com User Experience
Whether you are a novice or an experienced crypto trader, Crypto.com has offerings for you. The Crypto.com app is intuitive and ideal for purchasing cryptos using fiat cash.
The Crypto.com Exchange app is likewise feature-rich, with a plethora of trading tools and functions. It might be intimidating at first, and there is a learning curve when using the trade ticket, but it gives a variety of really important tools for effective crypto trading.
You may also see a list of top big winners, top volume, what’s fresh, and even make your own favourite cryptos watchlist. Additionally, the percentage gain and loss statistics on each symbol make it simple to observe the price gains and losses of each currency.
From this main screen, you can also explore all of Crypto.com’s other offerings, such as staking your currencies to receive more, loaning your tokens to gain more, and discovering new crypto projects where you may invest with up to 50% off, and much more.
7. Crypto.com Trading Tools
Crypo.com features some fantastic trading tools for cryptocurrency investors. To begin with, the app’s bitcoin trading charts are attractive and intuitive. Price data is represented as a line chart or a candlestick chart.
You may also switch between multiple time periods, such as minute, hourly, and daily charts. On your specified time frame chart, you can also see volume statistics on how many trades are currently happening.
- When trading, you may also use a variety of order types. This includes the following:
- Market Order: This order indicates that Crypto.com will complete your transaction at the current market price in less than a second.
- Limit Order: This order enables you to choose a price level at which Crypto.com should conduct your transaction.
- Stop Loss: This order type lets you minimize your losses by choosing a price level at which you want to finish a losing trade.
8. Crypto.com Regulation & Licensing
The Crypto.com exchange has become the first worldwide cryptocurrency trading platform to earn a Class 3 Virtual Financial Assets (VFA) Service Provider Licence from the Malta Financial Services Authority.
Malta is one of the few governments that has established a strong legislative framework for virtual assets. This allows Crypto.com to provide its consumers with legal trading conditions while also securing their assets.
When evaluating Crypto.com costs, they may be divided into two categories: deposit and withdrawal fees and trading fees.
1. Deposit & Withdrawal Fee
The lowest amount you may deposit in GBP is £20, with processing timeframes of up to 7 working days. Furthermore, deposit limitations are set at £250,000 per transaction.
There is a 2.99 percent charge when purchasing cryptocurrency using a credit or debit card. However, Crypto.com doesn’t impose any fee for new users on any cryptocurrency transactions for the first 30 days.
There are no costs if you deposit cryptos or send them to other app users. However, bitcoin withdrawal costs differ based on the cryptocurrency. The withdrawal charge for Bitcoin (BTC) is 0.0001.
2. Trading Fees
I discovered a maker and taker payment system in this Crypto.com evaluation. Most investors will fit into the taker group since they will be purchasing via the Crypto.com exchange. This is comparable to the majority of other cryptocurrency platforms.
Crypto.com trading fees depend on a 30-day trading volume. As your trade volume grows, you will earn greater rebates.
Most consumers with a trading volume of less than $25,000 in the previous 30 days will pay a 0.4% charge per deal that is when you open and when you close a position. The cost might be as little as 0.1% if your trading volume is really high.
If you buy the Crypto.com native coin CRO, you may stake it and use it to cover your trading costs, which would save you even more money. You also earn a 10% annual return on your CRO share, which helps you achieve cheap costs.
If you are trading futures such as cryptocurrency futures contracts, you will be charged a 0.07 percent commission to purchase and sell at level 1.
How to Buy on Crypto.com
Here is a step-by-step guide to purchasing cryptocurrencies on this renowned crypto lending platform:
1. Install the App
You can get started quickly by downloading the Crypto.com app from the Apple App Store or Google Playstore.
2. Make an Account
To open a Crypto.com account, simply provide your email address and other personal information. You will then receive an email asking you to confirm your email address.
3. Check Your ID
Crypto.com will need to verify your identification in order to comply with AML and KYC standards. You may simply accomplish this using the app by uploading your own papers or utilising the camera capability.
You must next handwrite a letter and snap a photo with your letter and ID in the same photograph. It’s fantastic to have this level of protection and safety from the start.
4. Deposit Funds
As you may have observed now that you can deposit money in GBP for free through the UK Faster Payment Service (FPS). You may also deposit cryptocurrency for free.
5. Purchase cryptocurrency!
After you’ve placed money into your account, you may now buy any other cryptocurrency provided by Crypto.com. There are plenty to pick from! If you desire greater control over your price and where you are entering, you may utilise the Crypto.com exchange to convert your cryptocurrency into another cryptocurrency.
Despite being younger than other cryptocurrency exchanges, Crypto.com has climbed through the ranks to become a market leader in its field. The quantity of crypto offers available to both new and experienced traders is impressive.
Along with trading and holding cryptocurrencies with ease, Crypto.com also enables its users to stake and lend coins. Crypto.com Visa card is another amazing feature that many other cryptocurrency exchanges do not provide.
I’m satisfied with the degree of security and protection provided by Crypto.com, which is authorized and registered by the Malta Financial Services Authority and possesses an Australian Financial Services Licence.
The Crypto.com app is feature-rich and simple to use. Set up an account today and get access to numerous features and services.