Crypto.com is a Singapore-based centralized cryptocurrency exchange. Launched in 2019, it offers spot and futures markets, margin and over-the-counter (OTC) trading, staking and lending, and trading bots. Additionally, Crypto.com cryptocurrency exchange users can access additional features and services, such as an NFT Marketplace and a digital wallet.
The platform is KYC-compliant. The Crypto.com crypto exchange can be accessed in over 100 international markets. It’s available in most US States. However, it doesn’t hold the BitLicense to work in New York State.
Markets
The Crypto.com spot market lists more than 200 different assets, including major cryptocurrencies and stablecoins. Overall, there are over 350 Crypto.com trading pairs. One of the available assets is Cronos (CRO), formerly known as the Crypto.com Coin. CRO holders are eligible for discounted fee rates.
Crypto.com margin trading allows users to borrow digital assets that can be used as collateral. Margin trading is conducted on the Crypto.com spot market. In the futures markets, users can trade with up to 100x leverage.
There are two types of trading fees – regular and VIP. There are five levels to the regular Crypto.com exchange fees. The maker-taker model is used. For regular users, the amount of held CRO determines the discount rates for makers and takers, as well as rebate rates for makers.
The five levels of spot & margin fees are determined by the 30-day Crypto.com trade volume in USD. At Level 1, the trading volume is under $250,000, and the maker-taker fees are both 0.0750%. At Level 5, the 30-day volume exceeds $10 million. The taker fee is 0.0500%, while the makers aren’t required to pay Crypto.com exchange fees.
There are five levels of VIP traders on the Crypto.com spot exchange. There are no maker fees, while the taker rate ranges between 0.025%-0.040%. The Crypto.com crypto price is not affected by CRO holdings.
Futures trading became available in 2021. Crypto.com derivatives markets offer traders quarterly and perpetual futures contracts. There are over 120 Crypto.com trading pairs available for futures traders.
Derivatives fees for regular users follow the same five-level structure as in the spot market. At Level 1, the 30-day derivatives Crypto.com volume does not exceed $1 million. The maker-taker fees are 0.0170% and 0.0340%, respectively.
At level five, the maker fee is down to zero, and the taker fee is 0.0260%. Discounted rates and rebates on maker fees apply to CRO token holders. VIP futures traders are not required to pay maker fees. The Crypto.com taker fees across the five levels range between 0.015% and 0.024%.
Trading Arena is a gamified trading platform. It enables customers to earn rewards for participating in specific trading tasks. Participation criteria may vary between different Arena competitions.
Crypto.com supports all popular payment methods, including ACH and SEPA bank transfers, SWIFT, debit and credit card payments, PayPal, and other cryptocurrencies. There are no deposit fees. All withdrawal fees are asset-dependent.
Other Services
Crypto.com DeFi Wallet is a non-custodial digital wallet. It can be used to store more than 700 assets. Users can deposit and hold non-fungible tokens (NFTs), swap assets, and earn rebates on various stablecoins and other tokens. It also provides a catalog of decentralized applications (dApps).
The Crypto.com NFT Marketplace was launched in 2021. It’s a platform for customers to mint, buy, sell, and swap non-fungible tokens. The NFT Marketplace supports ERC-721 tokens. There are no additional Crypto.com crypto fees for purchasing the items. Sellers pay a 5% processing fee for the operational costs.
Crypto.com Pay is a payment settlement system. It enables users to shop on e-commerce platforms or buy NFTs using more than 30 tokens. There are no gas fees. Users are eligible for up to 10% CRO in return for their Crypto.com Pay transactions.
Crypto.com Earn is the platform’s staking service. It enables customers to stake their tokens to earn passive rewards. Reward rates depend on the duration of staking and the selected asset.
The Syndicate is a blockchain fundraising platform. It allows awarded project teams to list their assets on the Crypto.com crypto exchange. The Syndicate program is not available to users from the US, China, or Hong Kong.
Crypto.com Card is a prepaid Visa card. Customers that have staked CRO tokens for a minimum of 180 days and completed KYC verification are eligible to apply for the card. There are five tiers to the Crypto.com card with different levels of CRO rewards and other benefits.
About the Company
Crypto.com was founded in 2016 in Hong Kong as Monaco. It was renamed in 2018 after the company bought the Crypto.com domain from renowned cryptography researcher Matt Blaze. The company’s founding team includes Kris Marszalek, Bobby Bao, Rafael Melo, and Gary Or. The current headquarters are in Singapore.
The beta version of the Crypto.com cryptocurrency exchange was officially launched in November 2019. The full version was launched a month later. In January 2020, the Trading Arena was launched with its first trading battle for a prize pool of 50,000 USDT.
In February 2021, the company reportedly had a customer base of more than 10 million users. That year, the average daily spot Crypto.com volume was estimated at $5.5 billion. The company started several collaborations with well-known brands, including the Aston Martin Formula 1 team.
In January 2022, the Crypto.com platform was breached by hackers that stole Ethereum (ETH) funds. During the attack, users reported suspicious account activity, leading to the exchange halting withdrawals. The stolen Crypto.com crypto price was valued at around $15 million.
In February 2022, the Crypto.com crypto exchange was famously featured in one of the Super Bowl LVI ad spots. Reportedly, the 30-second appearance cost the company $6.5 million.
In May 2022, it was reported that the Crypto.com exchange garnered more than 50 million users. According to the CEO, the company was expecting to reach 100 million users by the end of the year.
Kris Marszalek is the CEO of Crypto.com. He’s a Polish entrepreneur who, prior to founding Crypto.com, was involved in the development of several other FinTech companies, including Ensogo and BeeCrazy.
Bobby Bao is the managing director of Crypto.com. He’s a venture capitalist and entrepreneur. In 2018, Bao was named one of Forbes Asia 30 Under 30. He has worked on the company’s corporate strategy. In 2021, he launched the crypto startup funding platform Crypto.com Capital.
Rafael Melo is the CFO of Crypto.com. He has over 15 years of experience in the financial sector. Melo also worked as the CFO of Mastercard Mobile Payment Solutions. He held the same position at the social commerce platform Ensogo.
Gary Or is the former CTO of Crypto.com. He’s a computer scientist and software architect. After stepping away from the Crypto.com cryptocurrency exchange in December 2020, Or founded the startup accelerator Particle B.
