What is Crypto.com, a scam? Today we shall be looking at this very unique platform as we try to determine whether it is for you or you should simply rely on other alternatives in the market. By the end of this review, we shall have established whether Crypto.com deserves to be as popular as it is in the present-day world. Here are some the things that we shall be addressing at length:
- What is Crypto.com?
- How does one sign up for a Crypto.com account?
- What currencies does Crypto.com allow you to purchase?
- Why the MCO Visa Card and Mobile App are popular
- What can be said about this platform’s safety?
- The fees and charges on Crypto.com
- Is Crypto.com Legit?
- Pros and cons
Name of the platform: Crypto.com
Official Website URL: https://crypto.com/en/ (bonus code: gm82s6uy5v)
Overall User Rating: (4.5 / 5)
Ease of Use: (4 / 5)
Features: (4.9 / 5)
Security: (4.9 / 5)
Fees: (4.5 / 5)
What is Crypto.com?
Crypto.com has managed to build for itself a unique name simply by having a unique domain name. This has in itself helped it gain so much popularity even without there being a need for its owners to do extra marketing. The hot domain name is not the only thing there is about this platform. Since the word go, the platform managed to offer very superior products and services, and these have done a great job backing up a solid reputation.
Crypto.com was born out of the idea that the creation of a cryptocurrency card would in itself speed up the adoption of cryptos on a global scope. With time, however, the creators of this company have revolutionized the platform into a cryptocurrency exchange platform that is currently serving more than 1 million users.
One of the main things to love about crypto.com is the fact that it has an excellent mobile application has useful features that its users can rely on to achieve a variety of objectives. The mobile app is also the gateway to the competitive offerings that Crypto.com presents to its users at large.
So far, I think the creators of this platform have put into consideration very many valid factors and that has been reflected in the general outlook of the app, as well as its effectiveness.
How does one sign up for a Crypto.com account?
With this platform, you can have an account up and running in less than 10 minutes, provided you have what it takes to go through the basic and advanced verification stages.
At the basic verification level, note that you will be asked to submit your personal details, which include:
- Your full names in the order in which they appear on your identification documents
- Your active email address
- Your phone number
This information will enable you to access a good number of the services that Crypto.com offers on its web platform. Such an account allows you to make deposits and to withdraw the funds that are in your account.
If you need to access all of the features that are offered on this platform, you will need to go to the advanced verification level. With this verification level, you will have to submit a couple of images of your legal documents Once you have verified your account at this level, you are granted the permission to make unlimited deposits. You can also withdraw large amounts of the funds in your account (in the form of cryptos), provided you do not go beyond the 100 BTC withdrawal limit.
If you are signing up with the mobile platform for the very first time, you will be required to get to the advanced verification level right away, by submitting a couple of your identification documents. Upon presenting images of the documents (driver’s license/ ID, and your selfies), you will have to wait for the account to be verified before you can access it through the app. Upon verification, you can begin accessing the products and services right away.
What currencies does Crypto.com allow you to purchase?
Crypto.com has despite being very new to the market managed to offer a wide variety of coins and tokens, which is something that most users of this platform have found quite appealing. You can purchase and sell these digital assets, provided that you have a verified account.
The digital assets offered here range from the well-known cryptos such as Bitcoin and Ethereum to the very recently created ones. Crypto.com also offers native coins such as MCO and CRO, which are also available for purchase and sale.
Here are the main coins and tokens on Crypto.com: BTC, LTC, EOS, XRP, ETH, CRO, MCO, USDT, XLM, ATOM, LINK, ERD, CELR, ALGO, XTZ.
Why the MCO Visa Card and Mobile App are popular
Crypto.com brings together the best services from the world of cryptos and mainstream banking as it is generally known. It is one of the best platforms on which one can invest their funds, trade, as well as access a wallet that is packed with essential money-making products and services. The plan to accelerate the adoption of cryptos by presenting such superior products was well calculated and I think Crypto.com will play a huge role in revolutionizing the currency world as we know it.
The main selling point of Crypto.com is its visually appealing MCO Visa Cards. I, however, also think that the Crypto wallet app is excellent, in the way it allows its users to:
- Earn an income
- Invest their funds
- Make payments
- Borrow money
- Access MCO and CRO.
With Crypto.com’s proprietary software, you can achieve the above-listed objectives quite easily, and within a short time.
The MCO Visa Cards are definitely a major highlight of Crypto.com’s existence. The design and the colors of the MCO cards have attracted many users, who have been applying for them in large numbers. The outward appearance is not the only thing to love about these cards. The underlying benefits also equally attractive, and they include:
- They are available in many nations in the world, including 49 out of the 50 states in the USA, as well as Europe and Singapore.
- These cards have zero annual fees.
- These cards allow you to spend your cryptos in the form of foreign currencies as you travel the world.
- The interbank exchange rates are also attractive
- You won’t have to pay even a single coin to acquire the lowest card tier.
- They offer a cashback of up to 5% on purchases.
- They are shipped to you for free
- They have a unique metallic and refined color scheme.
Crypto.com offers the following cards:
Midnight Blue MCO Visa Card
With this card, one is not required to stake any amount of MCO for them to begin the application process. The card is given to you at no fee, and it lets you enjoy the following perks:
- 1% MCO rewards on specific purchases and payments made using the card
- An ATM withdrawal limit of $200 USD per month
- An interbank exchange rate limit of $2000.
Ruby Steel MCO Visa Card
This is a favorite Visa Card for many, including those who love it for its refined reddish hue color. For you to apply for this card, you will need to stake 50 MCO. The benefits presented to the owners of this card include:
- 2% MCO rewards on specific purchases and payments.
- An ATM withdrawal limit of $400 USD per month.
- An interbank exchange rate limit of $4000 USD
Jade Green/ Royal Indigo MCO Visa Card
You will need to stake 500 MCO for you to apply for this Visa Card. It presents the following benefits its users:
- 3% MCO rewards on specific purchases and payments
- A monthly ATM withdrawal limit of $800.
- You get access to LoungeKey AirportLounge
- The interbank exchange rate is fixed at $10,000 USD per month
Icy White/ Rose Gold MCO Visa Card
For this card, you will have to stake 5000 MCO just to get the right to apply it. Its benefits are equally huge, and they include:
- 4% MCO rewards on specific purchases and payments.
- You get access to LoungeKey Airportlounge with one guest.
- The monthly ATM withdrawal limit is $1000 USD – there are no charges for the withdrawals
- The interbank exchange limit here is $20,000 per month.
Obsidian Black MCO Visa Card
This is the ultimate highrollers card on this platform. With this Visa Card, you need to stake 50,000 MCO for you to begin applying for it. It offers the listed benefits:
- 5% MCO rewards on certain purchases and payments
- LoungKey AirportLounge Access with one guest
- A monthly ATM withdrawal limit of $1000 USD
- The interbank changes here are unlimited.
What can be said about this platform’s safety?
Crypto.com sells itself as a safe platform, by showcasing enough evidence to back up its claims. There are several certifications that it has accumulated so far, including:
- PCI: DSS
- Cryptocurrency Certification Consortium
When you visit the Crypto.com website, you will find the words: “Security First. Always”, which is a reflection of this company’s commitment to offering top-notch security to its clients.
The certifications and declaration of the commitment to offer security serve its purpose in assuring clients that their funds and sensitive information is all safeguarded.
Besides that, Crypto.com stores all the funds that you deposit in a cold storage wallet. Cold wallets are the best in terms of security in the crypto industry and are hacker-proof. The funds in your cold wallet are also insured, in the event of a totally unprecedented loss.
The hot wallet on Crypto.com is used to store the corporate funds that need fast and smooth movement within their network.
Crypto.com also offers top-notch security with the mobile app, which requires 2FA for all transactions. This is also backed by biometrics and the Google Authenticator app. With these security measures, it is very hard for users to lose the funds in their crypto accounts.
The fees and charges on Crypto.com
Crypto.com has a transparent fee schedule, in as far as I can tell. They are mainly reasonable and competitive, and this makes it easy for you to transact huge amounts of money without fearing that a portion of it will be eaten into by charges.
The highest fees you will probably encounter on this platform are maker-taker fees, that start at 0.2%. The other fees are so minute that you will never feel the pinch or even notice them.
With this platform, you are required to stake CRO tokens, since doing so gives you a 20% ROI on the amount you have staked, and this comes with benefits in the form of low fees.
Deposits on this platform are made through Credit cards, Wire Transfer, Cryptocurrencies.
Withdrawals are done in Cryptos as well as Wire Transfer.
Is Crypto.com a Scam or Legit?
So is Crypto.coma scam, no of course not. It is a legit service and not only that, it looks very impressive.. So far, the evidence I have gathered from research and from using this platform points to it being genuine and reliable. If you are thinking about getting started with cryptocurrencies, I think you can do well with Crypto.com. It is an easy to use platform that offers very high security.
There are many benefits to look forward to when you apply for the MCO Visa card. You can give the platform a try today, and see what difference it has with what you are using already.
Pros and cons
It is always wise (and recommended) to compare the positives against the negatives to get a better overall view of something, right? As always in our reviews we provide you with some clear points on both sides of the spectrum:
- 20% ROI when you stake CRO
- Easy to use and impressive mobile platform
- Multi-level security
- Several cards that you can apply for
- $50 FREE crypto up for grabs
- It is relatively new in the market
Final words and verdict:
Verdict: Legit (and highly Recommended)
Overall rating : (4.7 / 5)
Crypto.com has taken things a notch higher in as far as the ownership of cryptos is concerned. You can now own cryptos and transact with them in the manner that you have been doing with regular money. You can try out this platform today to see how it will work for you.
P.S. Use the bonus code: gm82s6uy5v
Thank you for sticking through to the end of my review about what Crypto.com is, and whether it is a scam. How well do you like this platform? You can give it a try today and tell me what you discover in the comments section.
Eric, investor and team member on Gold Retired!