What is Crypto.com?
Crypto.com is a recognized Singapore-based cryptocurrency exchange firm. Supposedly, the firm has over 70 million customers and more than 4,000 employees. The exchange also has its own token, known as Cronos(CRO). Moreover, its vision is clear: “Cryptocurrency in Every Wallet,” which entails accelerating the transition towards cryptocurrency.
Where is Crypto.com Located?
As mentioned previously, Crypto.com is based in Singapore. However, according to its LinkedIn profile, the firm is based in other locations as well, scattered across 10 different areas around the world, namely Miami, London, Dublin, and others.
Who Created Crypto.com?
Initially, the firm was founded in 2016 in Hong Kong by Kris Marszalek, Rafael Melo, and Bobby Bao. At the time, it went by the name of “Monaco.” However, it was in 2018 that the name was changed to Crypto.com after purchasing a domain that belonged to Matt Blaze, who is a professor and cryptography researcher. This domain was valued between $5 and $10 million by domain sellers.
What is Crypto.com Arena?
The Crypto.com Arena is an indoor arena that is multi-purpose and hosts more than 250 events and almost 4 million guests every year. In the NBA, it is the sole arena that two teams share. In addition, it is among the only three professional sports facilities in North America to have hosted two teams belonging to the same league. It has also served as a venue for the Grammy Awards, and the basketball tournament for the Summer Olympics in 2028 will be held there.
Who owns Crypto.com Arena?
The Anschutz Entertainment Group and Arturo L.A. Arena Company jointly own and run it.
When Does Crypto.com Arena Open?
At Crypto.com Arena, the door opening times will vary depending on the event taking place. But, for most events, the doors open 1.5–2 hours before they start.
Where is Crypto.com Arena?
The Crypto.com Arena is located in downtown Los Angeles. It is situated alongside the Los Angeles Convention Center complex on Figueroa Street, close to the LA Live development. The arena initially debuted on October 17, 1999. Back then, it went by the more popular name of Staples Center. However, that changed when Crypto.com bought the naming rights in December 2021.
How to use Crypto.com
Before you start trading on Crypto.com, you have to sign up. This process entails two types of verification on the exchange: advanced and basic. Basic verification involves taking information like phone numbers, names, and email addresses. This will give you access to the majority of their services and grant you a reasonable level of freedom regarding withdrawals and deposits. As for advanced verification, it entails a KYC, or “know your customer,” procedure that necessitates submitting identity documents. This will then give you access to unlimited deposits with a withdrawal limit of 100 BTC.
After you have completed registration, head on over to crypto.com/exchange and click on the “Log In” button, which you will find in the upper right-hand corner. After signing into your account, you can immediately begin making trades by going to the Crypto.com Exchange. All you have to do after this is open the “Markets” page by selecting it from the navigation bar’s top left.
Choose the market you desire trading in, select your trading pair, such as CRO and USDT, for example, and click on “Trade.” Then, navigate to the lower right corner, where you will find the Market, Limit, and Advanced order fields. Choose the order type you seek to trade with and complete the required fields by filling in your details, and you are all set.
How to buy CRO
When it comes to purchasing cryptocurrency, there are a number of exchanges to choose from. However, in this guide, we will be looking at how you can buy CRO from Coinbase.
You can either download Coinbase’s app to create an account or sign up through its website. Here, we will go through its website instead of its mobile application. To transact, you will be required to send a valid ID or a proof of address. And depending on your location, confirming your ID could take more than a few minutes.
Select a payment method
Click the payment method box. Then, connect the payment method you want to use, such as a debit card, a wire transfer, or a bank account.
After you have finished signing up and selecting your payment method on Coinbase.com, choose Buy and Sell.
Choose CRO and finalize your order
On Coinbase.com, tap on the Buy panel so that you can navigate and choose CRO, and enter the amount you wish to spend in fiat. You can then click the arrow buttons that are on the right side of the funds you want to pay. Change them to the equivalent number of CRO. After that, finalize your order by clicking on the “Buy now” button after reviewing your purchase details. After your order is processed, you will be directed to the confirmation page, and that is it; you have now purchased CRO.
How to trade on Crypto.com
As mentioned previously, all you have to do to start trading on Crypto.com is to open the “Markets” page, choose the market and trading pair you desire to trade in, and click on “Trade.” Then, you can select the Market, Limit, and Advanced order types, fill in your details, and you are all set. However, there are other features worth looking at before you start trading on Crypto.com.
Staking happens when you actively take part in the validation of transactions on a PoS (proof-of-stake) blockchain. To be eligible for the position of validator, one needs to stake a certain amount of the token they want to validate, for which they are rewarded in exchange.
Crypto.com, similar to other exchanges, has its own referral program. Suppose you happen to sign up using a referral link. In that case, you can receive around $50 in CRO tokens as a bonus, given that you stake a minimum of 5,000 CRO and complete a KYC confirmation at its “advanced” degree.
On the other hand, users who stake between 1,000 and 4,999 CRO are eligible for a $10 bonus, provided they meet the same conditions. What’s more, you can become a referrer and share your referral links to earn rewards. This bonus can be worth up to $2000 in CRO tokens, depending on your referee’s initial CRO staking level. Not only that, but you, as the referrer, may also earn a commission that is equal to 50% of the net trading fees of the referee for a period of 12 months.
The Syndicate is another exciting feature offered by Crypto.com Exchange. It acts as a fundraising platform where promising cryptocurrency projects have the opportunity to list their tokens. Also, CRO holders who have staked their CRO on the exchange are liable to gain priority token allocations at a discount when these events are held.
Gen 3.0 served as an upgrade that was released last year on November 1, which entailed merging both derivatives and spot exchange into a single exchange engine. Here, all one needs is a single wallet for trading across every product, allowing for smoother trading experiences, transfers, and other numerous benefits.
Pros and Cons of Crypto.com
Among the things that Crypto.com has going for it are its generally lower fees, reliable security, strong cryptocurrency selection, and smooth experience in payment processing.
However, despite that, there are a few things that the exchange seems to lack. For one, the exchange could do some optimization in terms of its overall navigation because it can be a bit hard to navigate.
Other aspects that could use improvement would be its customer service and educational resources. Although it does provide 24/7 customer support, it only has a 2.1/5 rating on Trustpilot. A lot of the complaints mention poor customer service responses. As for educational resources, Crypto.com is not that good for beginners, and only basic information is provided regarding individual cryptocurrencies.
Crypto.com Fees and Deposit Methods
For spot and margin trading, trading fees for makers and takers are the same, which is 0.0750%. However, this is only if the 30-day spot trading volume is below $250,000. If it exceeds that amount, then the fees for each start to reduce depending on that amount. As for derivatives trading, maker fees are at 0.0170%, while taker fees are at 0.0340%. Again, if the 30-day trading volume increases above $1,000,000, then the fees here also start to reduce. Withdrawal fees, on the other hand, are dependent on the cryptocurrency.
Is Crypto.com safe?
Yes, Crypto.com is safe, mainly because it utilizes industry-standard or higher security measures. These can also include employing bug bounty hunters to identify any potential security threats.
Can I use Crypto.com in the US?
Yes, Crypto.com’s services can currently be accessed in 49 US states.