Crypto.com Review 2024: Pros, Cons and How It Compares
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Our Take
4.6
The bottom line:
Pros & Cons
Pros
Large selection of crypto assets and trading pairs.
Fees are low if you fund your account with cash transfers.
Straightforward staking program.
Cons
Some services not offered in the U.S.
High fees to withdrawal cryptocurrency.
High minimum withdrawal requirement.
Compare to Similar Brokers
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Fees 0% - 4% varies by type of transaction; other fees may apply | Fees $0 per trade |
Account minimum $0 | Account minimum $0 |
Promotion Get $200 in crypto when you sign up. Terms Apply. | Promotion None no promotion available at this time |
Learn more on Coinbase's website | Learn more on Robinhood's website |
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Full Review
Where Crypto.com shines
Selection: With more than 350 cryptocurrencies on its exchange, Crypto.com has a larger selection than any other service reviewed by NerdWallet.
Low or no fees with cash: There are no trading and transaction fees on Crypto.com if you make your purchase with money transferred in from your bank account via ACH, or automated clearinghouse, transaction.
Where Crypto.com falls short
High withdrawal fees and minimum: If you want to withdraw your crypto from the platform, you'll have to pay a fee to do so. The withdrawal fee for Bitcoin is 0.006 BTC, which was over $35 in September 2024. There is also a minimum withdrawal amount of 0.001 BTC, which amounted to roughly $70 in our testing period. That's considerably higher than most other exchanges, and easily the biggest downside to using Crypto.com.
Some services unavailable in the U.S.: Singapore-based Crypto.com offers most of its services to U.S. customers through its mobile application, so you may be out of luck if you prefer to trade from your desktop. Also, some aspects of its exchange — such as margin trading — are not offered to U.S. residents, and Crypto.com is not available at all in New York.
No more staking: Crypto.com discontinued staking for U.S. customers in 2024.
Crypto.com is best for:
Mobile-first users.
Transactions with fiat, or traditional, currency.
DeFi, or decentralized finance, tokens.
Crypto.com at a glance
Trading and transaction fees | No trading fee, but transactions using credit/debit cards cost up to 2.99%. |
Minimum trade | 0.0000338 BTC, or about $2. |
Number of cryptocurrencies | More than 350. |
Crypto-to-crypto trading pairs | Crypto.com doesn't offer an official list, but Bitcoin and other major assets have dozens of potential pairs. |
Website transparency | Crypto.com's website is helpful, but sometimes fails to distinguish effectively between services offered by its U.S. and overseas services. |
Staking and rewards | Not available for U.S. users. |
Customer service | Crypto.com offers only chat-based help for most issues. |
More details about Crypto.com's ratings
Trading and transaction fees: 5 out of 5 stars
The cost of using Crypto.com depends on how you choose to fund your account, but in any scenario, the fees are low. If you use a debit or credit card, you'll be charged 2.99%. Crypto.com's recommended funding process is to fund your fiat wallet with USD via ACH. From there, it's completely free to purchase crypto. However, in testing the platform, we found these bank connections can be cumbersome, or potentially even unavailable for some banks.
You’ll also pay a fee if you want to withdraw crypto from the platform. This fee depends on the type of cryptocurrency in question. For Bitcoin, the fee is 0.0006 BTC.
Minimum trade: 5 out of 5 stars
Minimum trades on Crypto.com vary based on the cryptocurrency being traded. For Bitcoin, the most valuable cryptocurrency, the platform adjusts the minimum regularly to keep it at around the equivalent of $1 or below.
Number of cryptocurrencies: 5 out of 5 stars
Crypto.com has more than 350 cryptocurrencies available to U.S. customers, the highest number we’ve seen among exchanges reviewed by NerdWallet.
Crypto-to-crypto trading pairs: 5 out of 5 stars
Crypto.com does not make a list of crypto-to-crypto pairs readily available. However, when we were using the app, we found there are several dozen pairs for top cryptocurrencies such as Bitcoin — as well as some less-commonly traded ones. That puts Crypto.com comfortably among the top tier of exchanges in terms of trading pairs.
Nonetheless, it's not a bad idea to double check the app to make sure that Crypto.com offers the pairs you most need in your crypto trading.
Staking and rewards: 1 out of 5 stars
Crypto.com no longer offers staking to U.S. customers.
Mobile app: 5 out of 5 stars
Crypto.com’s mobile applications are the primary way that customers in the U.S. can access its services, so if you want to use Crypto.com, you should make sure you like the way the app works on your phone.
The platform offers applications for iOS and Android, which both have high user ratings in their respective app stores.
The app can also connect to the separate DeFi Wallet app. The customer ratings for that average around 4.5 stars.
Customer support options: 2 out of 5 stars
Crypto.com primarily offers only chat-based support.
Other features you should know about
Cronos and credit cards: Crypto.com has tried to build a financial ecosystem for users of its apps. The associated products include credit cards and the associated cryptocurrency Cronos, or CRO. Users who have staked a large amount of CRO become eligible for cards that carry benefits including better rewards on credit cards and higher staking payouts.
NFTs: Crypto.com also offers a marketplace for NFTs, or nonfungible tokens. NFTs enable ownership of digital files such as visual art, music and videos.
Is Crypto.com right for you?
Crypto.com offers a massive selection of digital assets and has fees that can be quite low. It's good for people comfortable with mobile trading, and those who are interested in add-on services such as credit cards.
Methodology
How do we review cryptocurrency platforms?
NerdWallet’s comprehensive review process evaluates and ranks platforms and companies that allow U.S. customers to buy and/or sell cryptocurrency. Our aim is to provide an independent assessment of providers to help arm you with information to make sound, informed judgments on which ones will best meet your needs. We adhere to strict guidelines for editorial integrity.
We collect data directly from providers through detailed questionnaires, and conduct first-hand testing and observation through provider demonstrations. The questionnaire answers, combined with demonstrations, interviews of personnel at the providers and our specialists’ hands-on research, fuel our proprietary assessment process that scores each provider’s performance across more than 10 factors. The final output produces star ratings from poor (one star) to excellent (five stars).
For more details about the categories considered when rating brokers and our process, read our full methodology.
