Zyane Tan is an associate editor at Finder. An experienced copywriter and content creator, Zyane enjoys writing on a wide array of subjects. When she’s not busy typing away, she’s reading and musing over a pint.
Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific
provider, service or offering. It is not a recommendation to trade.
Complete crypto platform
High speed exchange with competitive fees
Lets you earn returns on deposits
Crypto-powered rewards card
Getting the most out of it requires CRO staking
It has a convoluted two token system
Lack of transparency in where its funding comes from
What is Crypto.com?
Crypto.com is intended to be a complete cryptocurrency platform, made up of many connected products and services. The three main parts are:
The Crypto.com app. The heart of Crypto.com is a mobile app, available for iOS and Android devices in Singapore. Downloading the app allows you to access the full Crypto.com ecosystem. When you hold cryptocurrency in your account, you can access the full range of Crypto.com services, but it also means that you’re entrusting your funds to Crypto.com.
The non-custodial Crypto.com wallet. This is a separate wallet, which can be downloaded as a completely separate app. This wallet lets you take personal control of your private keys, but you won’t be able to access all the Crypto.com services through it. However, you can link this wallet to your main Crypto.com account to easily transfer funds between them.
The Crypto.com exchange. This is a crypto-to-crypto exchange. You can sign up for the exchange separately, or log into it with your Crypto.com app account. You will need to have a Crypto.com app account to access all the benefits of the exchange, such as special promotions.
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:
The Crypto.com Visa debit card. Use the app to seamlessly convert crypto to SGD, and load it onto your Crypto.com card for easy spending. Earn rewards by spending with your Crypto.com card.
Crypto.com Earn. Earn up to 8% p.a. on cryptocurrency holdings, such as BTC, or up to 12.5% p.a. on stablecoins such as USDT.
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.
Crypto Earn is Crypto.com’s staking feature, allowing you to earn up to 12.5% p.a. interest on 40+ cryptocurrencies and stablecoins. To get started, 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 which Crypto.com card tier you’re holding.
Eligibility and what else you should know about Crypto.com Earn
Across all of these services, you can get substantial benefits (such as higher returns and more rewards from your card) by staking the CRO cryptocurrency. The Crypto.com exchange, on the other hand, uses CRO staking for its rewards instead.
Here are some benefits across the spectrum of Crypto.com services that investors in Singapore can unlock through CRO staking:
In the Crypto.com app: Receive airdrops from new token listings based on the amount of CRO staked and earn interest on staked tokens. Get 6% p.a. starting at 500 CRO staked and 8% p.a. at 5,000 CRO staked.
In Crypto.com Earn: Earn additional interest.
For the CRO Visa card: Access higher card tiers by having CRO staked as you order your card. Higher card tiers have better benefits and features. These benefits are decreased if your staked amount drops below the threshold for that card tier, but even so, higher card tiers will still give better benefits than lower card tiers.
VIP access: You can get a bundle of exclusive benefits starting at 5,000 CRO staked, including priority customer service, OTC trading and access to the Crypto.com Invest automated trading system.
Deposit the CRO into your Crypto.com app account if it’s not already there.
Tap the Card icon in the bottom right corner.
Select the CRO Visa card of your choice.
Tap the “Stake CRO” button and follow the on-screen instructions.
In November 2021, Crypto.com launched its Missions feature that rewards its app users with ‘diamonds’ by simply logging in and trading crypto every day.
The diamonds you’ve accrued will be stored in the ‘Diamond Vault’, which can be used to purchase Mystery Boxes at 25 diamonds each. Each Mystery Box contains a CRO reward, with up to US$1,100 worth of CRO rewards to be won.
As of 12 November 2021, you can earn up to 66 diamonds daily (resets at 0:00 UTC) by completing the following missions:
Status check. Earn 1 diamond by logging into the Crypto.com app
Quick quest. Get 5 diamonds when you buy/sell at least US$20 worth of crypto in a single transaction
Volume venture. Receive 60 diamonds when you buy/sell US$500 of crypto in a day
The Supercharger feature is a simple and flexible liquidity mining platform that allows users to deposit their CRO tokens to mine some of the most popular DeFi tokens on the Crypto.com Exchange and Crypto.com App.
You may withdraw your CRO tokens at any time with no fixed term or penalty fees.
Crypto.com ‘The Syndicate’ programme
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.
Fees and services at Crypto.com
The information below is accurate as of 12 November 2021. All prices are listed 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.
Buying with a debit or credit card
Up to 4%
Exchanging fiat for crypto within your account
Deposits (Bank transfer)
Cryptocurrency transfers to other Crypto.com app users
Cryptocurrency transfers to external wallet addresses
Network fees apply
30-day trading volume (USD)
$0 to $25,000
$25,001 to $50,000
$50,001 to $100,000
$100,001 to $250,000
$250,001 to $1,000,000
$1,000,001 to $20,000,000
$20,000,001 to $100,000,000
$100,000,001 to $200,000,000
$200,000,001 and above
Discounts for staking CRO tokens You can receive trading fee discounts by staking CRO tokens.
Trading fee discount
≥ 5000 CRO
≥ 10,000 CRO
≥ 50,000 CRO
≥ 100,000 CRO
≥ 500,000 CRO
≥ 1 million CRO
≥ 5 million CRO
≥ 50 million CRO
The Crypto.com card is a metal debit card that can be periodically topped up, making it easier and more rewarding to spend cryptocurrency. When topping up, your crypto or foreign currencies are converted to SGD (at current exchange rates, with no fees) and loaded onto the card.
The card can be used anywhere a Visa debit card can be used. CRO rewards are earned on almost every type of transaction and even though the card is loaded with SGD, you can get interbank exchange rates (meaning no extra cost) on all uses, up to the interbank exchange rate monthly limit for each card. Since the Crypto.com card is a Visa prepaid card, you can spend with any merchants who accept Visa in Singapore — including bus and MRT rides.
The Crypto.com card is free, but the type of card you receive and the perks you get depend on how much CRO you stake.
You can unstake your CRO after 180 days and continue to use your card fee-free, 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 CRO.
To get your Crypto.com card, simply complete these 5 steps:
Sign up for the Crypto.com app and complete the KYC verification
Purchase CRO tokens and deposit them into your Crypto Wallet in the app (no action required if you’ve purchased CRO directly from the app)
Go to the ‘Card’ tab in the app and select the card tier you wish to apply. The amount of CRO required for the 180 days lock-in period depends on the Crypto.com card tier you’re applying for.
Tap the ‘Stake CRO’ button and follow the on-screen instructions
Wait for your application to be processed. You’ll be notified when the Crypto.com card has been shipped
How fast will my funds be available?
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.
Is Crypto.com safe to use?
Regulation. Crypto.com takes steps to operate in compliance with regulations around the world, such as the anti-money laundering and KYC obligations common everywhere, as well as more specific concerns that may apply to certain products or in certain areas, like risk disclosures, disclaimers or restrictions on certain products. Fiat currency in your Crypto.com account is held by custodian bank accounts and US residents benefit from FDIC insurance for those funds. The cryptocurrency side of things is still largely unregulated though. Like other exchanges, you’re taking a leap of faith when depositing cryptocurrency on Crypto.com, and you may have no recourse if something happens to those funds. In Singapore, Crypto.com is operated by Foris DAX Asia Pte. Ltd., which is currently exempted by MAS from holding a licence to provide DPT services.
Verification process. Crypto.com is strict about verification for all users in Singapore, and it is required as part of the signup process. Fortunately, it’s usually fast and easy as long as your phone has a camera and you have identification such as a driver’s license or passport.
Security features. According to Crypto.com, all user cryptocurrency is held offline in cold storage where possible, through Crypto.com’s partnership with Ledger. These funds are covered with a US$100 million policy. Elsewhere, cryptocurrency deposits are protected with other insurance policies and multi-signature wallets and fiat currencies are held by bank custodians. The app has been audited by external security firms, two-factor authentication is required and external addresses need to be whitelisted from within the app before crypto can be sent there from your account.
Despite its prominence now, circumstances 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.
How do I create a Crypto.com account?
Go to the Crypto.com website.
Go to the app store links or scan the QR code on the home page.
Download the app to your phone.
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 CRO 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.
Compare Crypto.com against other exchanges
Frequently asked questions
Crypto.com is available worldwide — including Singapore — although certain parts of the platform may be restricted in certain locations.
The verification process involves providing some personal details, such as your name and address, and taking a photo of yourself holding valid identification such as a driver’s license or passport. The prompts you receive when creating an account walk you through the verification process.
The main Crypto.com app is only available for mobile phones. There is no desktop or tablet version. However, the Crypto.com exchange can be used on mobile or desktop.
You can find guides and FAQs in the support section of the platform. You can also use the live chat service or find help in the Crypto.com Telegram groups or other social media.
If you forget your password, get a new phone or otherwise lose access to your Crypto.com account, you can contact customer service to regain access. You will be required to verify your identity before you get access back.
If your funds are held in the non-custodial Crypto.com wallet, you are responsible for your own private keys. If you lose your private keys there, you can use the recovery seed to access your funds again. If you lose your recovery seed and your private keys, you have likely permanently lost your funds.
Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly
volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of
future performance. Consider your own circumstances, and obtain your own advice, before relying on this information.
You should also verify the nature of any product or service (including its legal status and relevant regulatory
requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may
have holdings in the cryptocurrencies discussed.
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