Crypto.com Review Australia: Is Crypto.com Right For Australians?
Hi everyone today we will be reviewing one of the most popular crypto exchanges in Australia ‘ Crypto.com’.
This detailed Crypto.com review Australia will help you know the pros, cons, features, and fees for trading on Crypto.com
With new crypto exchanges emerging every day, selecting a perfect trading exchange as per one’s needs can be a daunting task and the lack of the right information doesn’t make it any better.
Crypto.com Review Australia – Does This Exchange Offer Anything New In 2022?
Amidst this mass number of exchanges stands, Crypto.com, an explicit and extremely popular name that is usually perceived to be only an exchange, however, Crypto.com is way more than just being a trading exchange.
In this Crypto.com review Australia, we will dive deeper into the different aspects of this ever-popular crypto trading exchange, and let’s find out if Crypto.com is the final crypto trading platform you are looking for.
|Pros||One-stop solution for trading exchange, |
digital wallet needs, NFTs market
|Cons||Faced a loss of $15 Million USD worth of|
BTC because of a cyber bug exploitation
|User Friendliness||Easy To Use|
Key Points On Crypto.com Exchange
◾ Crypto.com is one of the oldest companies working in the field of blockchain and crypto-related services. With a long history of service delivery, Crypto.com is one of the most trustworthy companies in the market.
◾ Crypto.com entertains more than 250 cryptocurrencies from around the world that allow you to choose your token as per your requirements and diversify your investments to avoid huge losses during crashes.
◾ Crypto.com exchange comes with an overall package, from being a trading index to a digital wallet and from a price chart display to your staking solution. Crypto.com accommodates them all.
◾ Crypto.com offers a comparatively lesser trading fee on its index with the charges being 0.4% up to $25,000.
◾ Crypto.com has deployed strong compliance monitoring to ensure a high standard of security for the digital assets of its users.
What Is Crypto.com?
Started in 2016 and based in Singapore, Crypto.com is primarily a crypto-based trading exchange with an active user database of more than 10 million users.
Crypto.com also serves its users as a completely digital crypto storage solution with its crypto wallet bragging of support of 100+ coins, securely encrypted private keys, one swap transfer feature, stake to earn rewards, biometrics, and 2-factor authentication process.
Crypto.com also supports more than 20 fiat currencies from around the globe to facilitate fiat-to-crypto transactions.
With over 250 global cryptocurrency support, Crypto.com crypto exchange could be a one-stop solution for those who are willing to try their luck with new blockchain projects and want to diversify their portfolio for a safe overall investment.
Crypto.com also comes with a DeFi swap and wallet that allows its users to send their cryptos at their preferred network speed and prices.
One can also refer and earn through the referral program offered by this trading exchange.
Crypto.com Review Australia – Supported Coins
Crypto.com cryptocurrency exchange supports over 250 crypto coins for trading on its platform with a subset of over 40 coins that can be used for staking.
With a huge number of coins supported in its index, Crypto.com is highly unlikely to disappoint you with its coin availability.
If you are planning your investment around the most high-rated tokens of the market, then rest assured, Crypto.com exchange got you covered. The most popular coins present on the market are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polkadot (DOT)
And many more coins are present in the global index of Crypto.com.
Crypto.com Features And Advantages
Let’s discuss one of the most popular features and advantages of Crypto.com crypto exchange in this Crypto.com Australia review.
Live Chat Customer Support
Even though Crypto.com has no explicit customer care support through a call, they have effective customer support in the form of a detailed FAQs page, email reporting and responding, and live chat support.
A major highlight of their customer support is their live chat support which is quick, effective, and offers an overall satisfying experience.
Visa Debit Card
Crypto.com exchange also offers premium-looking metal debit cards that offer a whopping 8% CRO rewards and a transactional limit of $400,000 USD with other additional benefits like. Spotify, Netflix, Amazon Prime, Airbnb Pro, and other premium subscriptions with its flagship debit card named Obsidian.
Earn Passive Crypto Income
Crypto.com crypto trading platform users can avail up to 14.5% of staking benefits if they decide to stake their stable coins.
Even though the staking benefits vary from coin to coin, e.g. for Bitcoin, it is 8% p.a and for ETC 8.5%, they can also reach 14% for a coin like USDC.
Crypto.com offers its staking benefits on 40+ cryptocurrencies and stable coins.
Crypto.com User Experience
The platform uses a clean and simple interface, everything is easy to understand and navigate.
Creating an account on crypto.com exchange is super simple because the instructions shown on the site are very easy to follow.
When talking about the exchange section, buying and selling on the platform is easy to understand even for beginners
Crypto.com cryptocurrency exchange platform is a great choice for those users who are well versed in the good practices of crypto investments and do not want to stake their entire digital assets in the hands of third-party customer support.
If you are an experienced crypto investor or a newcomer who wants to try a fresh hands-on exchange, you can definitely go to Crypto.com.
Crypto.com Safety And Security
Like any other good crypto wallet solution, Crypto.com has a detailed security philosophy backed by a good number of security measures taken to ensure the safety of its users.
Crypto.com exchange claims to store 100% of its cryptocurrencies in its offline cold storage facilities, which is a thing that sets them apart from other industry leaders.
With HSM, multi-signature, key-generation, and two-factor authentication, Crypto.com claims a completely safe and secure trading environment.
However, basic security protocols must be practiced even while operating the safest trading options that are available in the market.
Understanding the fee structure of different crypto exchanges present in the market is undeniably a herculean task, but we in this Crypto.com review Australia will try our best to explain it to you in the easiest possible way.
Crypto.com, like any other good and affordable crypto index, does not charge any deposit fee to its users. A variety in their withdrawal fee and trading fee allows them to keep their deposit fee to 0%. So if you have no plans to pay for depositing in your crypto wallet, you can go for Crypto.com.
Crypto.com offers a variable withdrawal fee for different crypto assets, which means that the rate of withdrawal fee would be marginally different from one cryptocurrency to another cryptocurrency.
Overall, Crypto.com crypto exchange is quite competitive with its fee structure and could be a great choice for those who are looking out for a pocket-friendly option.
The trading fee for Crypto.com covers a lot of angles for the POV of the investors as it reduces as the volume of trade increases.
Trading fees for an average user that does not exceed the bar of $25,000 USD have to pay a trading fee of 0.4% however if you are one of those sharks who invest more than $25,000 USD per month in crypto trading, rates can go down to as low as 0.1%.
The best part is that you can buy CRO coins and stake them in your wallet with Crypto.com to earn an annual interest and your transaction fee would be deducted from your CRO coins only.
Crypto.com Pros And Cons:
Like any other crypto trading exchange, Crypto.com crypto exchange also has its share of pros and cons and in this Crypto.com review Australia we are covering a few of them as follows:
- 100% coverage of coins stored in secure cold storage facilities and hot wallets storing only corporate funds
- Wide range support for all major blockchain projects with an overall coverage of more than 250 coins
- Staking being available for over 40+ coins can make your trading fee effectively zero if you plan your investments wisely
- One-stop solution for trading exchange, digital wallet needs, NFTs market, and even debit cards.
- One of the lowest trading fees in the pool of popular trading exchanges in the market
- Faced a loss of $15 Million USD worth of ETC because of a cyber bug exploitation
- Not the best customer care support available, however, has an active user base to share one’s doubts and concerns.
Crypto.com Customer Reviews And Complaints
With not so great rating of 2.4 out of 5.0 on Trustpilot, Crypto.com is on the lower end when it comes to the overall customer reviews and ratings.
One of the major reasons for this downfall in the reviews is a security breach and the loss of millions of worth of Ethereum coins.
Most of the complaints on the various platforms include the concerns regarding the accounts getting locked out and not-so-great customer support.
Lack of phone call support for its users also creates a gap in complaint redressal.
However, the live chat support on Crypto.com crypto exchange is one of the most popular choices for its users and quite an effective one as well.
Is Crypto.com Legitimate?
As per our research on Crypto.com exchange for this Crypto.com Review Australia, we found that Crypto.com is a 100% legitimate crypto trading solution with a wide user base of 1+ million users.
It is owned by Monaco Technologies GmbH, based in Singapore, and founded in 2016.
They also have their own token, MCO. Crypto has legitimate ties with Visa for their own debit cards and other US-based finance and insurance companies for securing the funds of their users.
Hence, Crypto.com is undoubtedly a reputed and legitimate trading exchange.
Crypto.com Contact And Customer Service
When it comes to customer care and services, Crypto.com crypto exchange offers a comprehensive help center that is packed with detailed informative articles and guides on how to solve and fix the most common the minor problems which its users face and those which do not need any customer care executive support.
However, if you still feel the need to get in touch with the support team, you can use the live chat feature provided on their website.
This live chat feature of Crypto.com makes it easy to access for its users and comes at a great advantage when it comes to overall customer support rating.
This being said, we must point out the fact that this aspect of the Crypto.com crypto exchange has faced criticism due to the inefficient management of a large user base.
How To Use Crypto.com
As we mentioned above in this Cryptocom Australia Review setting up an account on this platform is a simple process.
Here is a small itinerary on how to use Crypto.com
Step 1: Open A Crypto.com Account
To open an account on the Crypto.com exchange you need to install Crypto.com’s mobile application.
Once downloaded, open the application where you’d have to select the signup options.
After entering your email details and deciding on a secure password for your Crypto.com account, you’d need to verify the details in the next step.
Step 2: Verify Identity
To verify your identity on Crypto.com, you’d have to fill in the details of your name, a photo of your identity card, and a selfie.
Crypto.com will match the details with the identity card you provided and then you’d have to go through a ‘Know Your Customer or KYC process by filling up other details such as contact information and social security number.
Once completed, you can add your bank account to your Crypto.com account and start with adding funds to your account.
Step 3: Deposit Funds / Instant Buy
To add funds to your Crypto.com wallet, go to fiat wallet > Transfer > Deposit > AUD > ACH where you’d have to fill in the details of routing number, account number, account type, bank name, and bank address.
You can also add money via Wire transfer.
To buy crypto, just select that coin, click on buy now and enter the amount and the cost will be cut from your wallet.
Step 4: Storage
The crypto which you buy will be stored at your Crypto.com wallet where you’d be able to maintain your portfolio and monitor the prices and percentage of profit and loss in clear numbers.
Crypto.com Review Australia – Conclusion
Amidst a huge number of digital wallet solutions and trading exchanges in Australia that look almost identical in their features, it has become the need of the day to be knowledgeable about minor details of your crypto choices
After deep research and considering customer reviews, we can conclude that Cryptocom seems to be one of the best platforms in Australia if you would like to buy cryptocurrency in a fast and user-friendly manner
And with this Crypto.com review Australia we hope that we’re able to deliver quality information at your disposal to help you with an intelligent and smart choice.
Frequently Asked Questions
Yes, you can margin trade on Crypto.com
Yes, all the Visa cards of Crypto.com charge a marginal annual fee.
Yes, Crypto.com is not only available but quite popular in Australia.
Go to card website > Top Up > Debit Card > Input Details > Input amount > Confirm the transaction