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Fiat currencies
66
Cryptocurrencies
| Product Name | Crypto.com App |
|---|---|
| Fiat Currencies | USD, AUD, CAD, CHF, EUR, GBP, NZD, SGD, JPY, ZAR & 9+ more |
| Cryptocurrencies | BTC, ETH, USDT, XRP, ATOM, XTZ, XLM, LINK, CRO, MCO & 50+ more |
| Deposit Methods |
Bank transfer (ACH) Bank transfer (SEPA) SWIFT Xfers Credit or Debit Card |
| Trading Fee |
Maker: 0.04-0.20%
Taker: 0.10-0.20% |
| Deposit Fees | None |
| Withdrawal Fees | Cryptocurrency: Fees vary |
Crypto.com is intended to be a complete cryptocurrency platform, made up of many connected products and services. The three main parts are:
You only need to download the main Crypto.com app to get started and to get access to the exchange and additional services which may include:
Across all of these services, you can get substantial benefits (such as higher returns, better interest rates on loans and more rewards from your card) by staking the MCO cryptocurrency. The Crypto.com exchange, on the other hand, uses CRO staking for its rewards instead.
You may not be able to access all features. As of 14 July 2020:
To use the features of Crypto.com to their fullest extent, you can “stake” some of the Crypto.com MCO cryptocurrency. While a sufficient number of MCO tokens are staked, you get lots of additional benefits in the app.
Staking means locking it up for a six-month period, during which you will be unable to move, sell or use the tokens. After this period is up, you’re able to withdraw the tokens as usual, but you might lose your extra benefits if those withdrawals put you below the required threshold for those benefits.
On the plus side, your tokens earn 6-8% interest while staked.
The most common thresholds are all multiples of 50. So you may start getting benefits with 50 MCO staked, more benefits at 500 MCO staked and even more at 5,000, 50,000 and so on. These may be subject to change as the value of MCO tokens changes.
When using the Crypto.com exchange (rather than the app), you can get benefits from staking CRO instead of MCO.
Staking can offer benefits across the spectrum of Crypto.com services.
You can start exploring the Crypto.com ecosystem by going to the site and downloading the app, or read on to learn more about Crypto.com, how it works and some of the risks to be aware of when using it.
Go to the website to safely find the download links for the Crypto.com app.
Take advantage of promotions and special offers, or just trade as usual, on the Crypto.com exchange.
You'll find a fast, liquid and sophisticated exchange among Crypto.com's many other offerings.
Create an account to order your card and check out the rewards you can get from it.
Where available, you can earn interest, get loans and more.
The information below is accurate as of 17 June 2020. All prices in US dollars.
You can buy crypto directly through the app with a debit or credit card, but it will typically be more cost-effective to make a fiat deposit and then use that to buy crypto within the app.
| Transaction type | Fee |
|---|---|
| Buying with a debit or credit card | 3.5% + $0.10 |
| Exchanging fiat for crypto within your account | Free |
| Deposits and withdrawals (SEPA and ACH) | Typically free |
| Deposits and withdrawals (SWIFT) | Varying bank transfer fees may apply |
| TransferWise/PayPal | The usual TransferWise and PayPal fees |
| Cryptocurrency transfers to other app users | Free |
| Cryptocurrency transfers to external wallet addresses | Network fees apply |
| 30-day trading volume (USD) | Maker/taker fee |
|---|---|
| $0 to $50,000 | 0.20%/0.20% |
| $50,001 to $250,000 | 0.16%/0.18% |
| $250,001 to $1,000,000 | 0.12%/0.16% |
| $1,000,001 to $2,500,000 | 0.10%/0.14% |
| $2,500,001 to $10,000,000 | 0.08%/0.12% |
| $10,000,001+ | 0.04%/0.10% |
Discounts for staking CRO tokens
You can receive trading fee discounts by staking CRO tokens.
| Staked amount | Trading fee discount |
|---|---|
| 10,000+ CRO | 20% |
| 50,000+ CRO | 40% |
| 100,000+ | 60% |
| 500,000+ | 70% |
| 1 million+ | 80% |
| 5 million+ | 90% |
| 50 million+ | 100% |
What is Crypto.com’s The Syndicate promotion?
Periodically, the Crypto.com exchange holds a special promotion called “The Syndicate” where it exchanges other cryptocurrencies for CRO at half their current market price. This is typically done when a new cryptocurrency is listed on the exchange.
To participate, exchange users “pledge” (lock up) a certain amount of CRO for a chance of receiving twice as much of another cryptocurrency as that CRO is worth, up to varying maximum amounts. Any unused CRO pledge is returned at the end.
Crypto.com loans incur fees in the form of interest rates, charged daily.
| Fee type | Amount |
|---|---|
| Interest rates | 12% p.a. with <50 MCO staked, 12% p.a. with >500 MCO staked, charged daily |
| Additional fees | None |
| Limits (USD) | $100 minimum, $1 million maximum loan amount |
| Maximum loan term | 12 months |
How Crypto.com loans work
Crypto.com loans are given to you in your choice of PAX, TUSD, USDC or USDT stablecoins. These can typically be inexpensively converted to fiat currency.
Your collateral can be in the form of BTC, ETH, XRP, MCO, CRO, LTC, EOS or XLM. You give this to Crypto.com for safekeeping, and in return, it gives you the loan.
You can take out loans with up to 50% loan to value (LTV) ratio. This means you can borrow half as much as you put up in collateral. For example, if you have $10,000 of crypto as collateral, you can borrow up to $5,000.
As the markets move and daily interest is charged, the LTV ratio will change. If your LTV ratio reaches 70%, Crypto.com will issue a margin call, asking you to either make a repayment or deposit more collateral.
If your LTV ratio exceeds 85% or your loan has not been repaid after 12 months, Crypto.com will liquidate all your collateral.
You will automatically get your collateral deposited back to your Crypto.com wallet once your loan has been repaid.
Also note:
You can allot cryptocurrencies to the Earn section of the app to earn interest from them. To do this, select Earn from the main menu and decide which cryptocurrency you want to deposit.
The returns and limits vary depending on the cryptocurrency you’re depositing, whether you choose a fixed term or a flexible deposit and whether you are staking MCO.
The table below shows a partial selection of the cryptocurrencies you can deposit and the interest earned as of 17 June 2020, without and with staking MCO respectively.
| Coins deposited | Interest p.a. (flexible) | Interest p.a. (1-month term) | Interest p.a. (3-month term) |
|---|---|---|---|
| DAI, TUSD, TAUD, TCAD, TGBP, USDC, USDT | 6% to 8% | 8% to 10% | 10 to 12% |
| BTC | 1.5% to 2% | 3% to 4.5% | 4.5% to 6% |
| ETH, LTC | 2% to 3% | 3% to 4% | 4% to 5% |
| XRP | 1.5% to 2.5% | 2.5% to 3.5% | 3.5% to 4.5% |
| MCO | 1% to 4% | 2% to 6% | 4% to 8% |
| CRO | 12% to 14% | 14% to 16% | 16% to 18% |
| Others (including LINK, BNB, ATOM, XTZ, VET, ADA) | 1% to 2% | 2% to 4% | 4% to 6% |
While Crypto.com Earn pays fixed rates, Crypto.com Invest is another way of potentially growing your portfolio. 5,000 MCO staked is required to access it. With this, you can put funds into automated investment strategies, choosing between conservative, balanced and growth portfolios.
The Crypto.com MCO Visa card is a metal prepaid card that can be periodically topped up, making it easier and more rewarding to spend cryptocurrency. When topping up, your crypto is converted to USD (at current exchange rates, with no fees) and loaded onto the card.
The card can be used anywhere a Visa prepaid card can be used. MCO rewards are earned on almost every type of transaction and even though the card is loaded with USD, you can get interbank exchange rates (meaning no extra cost) on all uses, up to the interbank exchange rate monthly limit for each card.
The card is free, but the type of card you receive and the perks you get depend on how much MCO you stake.
You can unstake your MCO after the six-month period, but your card rewards will be decreased. The table below shows some, but not all, of the benefits of each card tier while staking the required amount of MCO.
| MCO stake required | 50,000 | 5,000 | 500 | 50 | None |
|---|---|---|---|---|---|
| Card tier | Black 
|
Silver 
|
Green 
|
Red 
|
Blue 
|
| MCO rewards on spending | 5% | 4% | 3% | 2% | 1% |
| LoungeKey airport lounge access | |||||
| No-fee monthly ATM withdrawal limit (2% thereafter, USD) | $1,000 | $1,000 | $800 | $400 | $200 |
| Interbank exchange rate monthly limit (0.5% thereafter, USD) | Unlimited | $20,000 | $10,000 | $4,000 | $2,000 |
To get your MCO Visa card:
Fiat deposits and withdrawals may take up to a week for certain transfer types, such as an international bank wire, but for all supported fiat currencies, there are considerably faster and cheaper methods available.
Cryptocurrency transfers to other Crypto.com app users are instant, while transfers to and from outside wallet addresses will typically take a few minutes, depending on the cryptocurrency.
Despite its prominence now, circumstance gave Crypto.com a mixed reputation in its early years, and from around 2017 to early 2019, many people accused it of being a scam. Since then it’s proven many of its detractors wrong.
Still, it’s good common sense to exercise caution whenever a platform offers such high returns without it necessarily being clear where all the money is coming from or how sustainable it is.
Once you’ve downloaded the app on your phone, start the app and follow the prompts to verify your identity.
Crypto.com began life in 2017 as a project called Monaco, under CEO Kris Marszalek who previously headed up online deals site Ensogo, which triggered fraud investigations and left some users out of pocket when it went bankrupt. Marszalek says he was only brought into Ensogo at the last minute in an ultimately unsuccessful effort to turn it around.
The Monaco ICO quickly raised US$25 million by selling the MCO coin under the promise of delivering Visa-branded cryptocurrency cards and creating a realistic crypto-based competitor to banks.
However, it missed several deadlines and disgruntled ICO speculators started accusing it of being a scam. Scam allegations grew louder when Monaco purchased the Crypto.com domain name in 2018, reportedly at the cost of US$12 million, when only a handful of cards had been delivered and only the bare bones of the app had been created. The creation of a new token at that time, CRO, caused further rifts.
Since then, however, it’s grown rapidly, solidly delivered on its original promises, grown to a user base of more than 2 million people and become one of the most comprehensive crypto platforms in the world.
Although Crypto.com appears to have proven its accusers wrong, it’s important to remember that cryptocurrencies are still volatile and largely unregulated.
