FEES WAIVED! Let's start with that right out of the gates. Not forever, but definitely over the last month and still happening now. Exchange Series - 3 of 7 Crypto.com
An Uncommon Commonality
It seems recently the talk of the town has been in fees. BTC, ETH or even some of those ERC-20's with their ETH gas... It can be a little maddening at times.
Recently I noticed a pretty good benefit in the short term that was coming from Crypto.com. Fees are being waived for plastic fiat to coin purchases. Typically there is a 3.5% fee on top of anything else and for the last several months and in the near future it still holds.
I don't know about you but when I first came across that I kept looking for the catch. So far so good.
So LET's BACK UP A LITTLE FIRST, ok?
What is Crypto.com?
I came across this exchange a while ago when I was searching out the different wallets. Everything seemed really straight forward and easy to use.
Crypto.com is a one-stop-shop for users to buy, spend and save cryptocurrencies such as Bitcoin, Ethereum and Binance Coin. With a multitude of staking options to unlock various features such as interest rewards, cash-back and rebates, the company is strongly geared towards everyday individuals looking to make the most of their digital asset holdings. -www.defirate.com
In the beginning the biggest issue for me was I kept confusing Crypto.com with MyCrypto.com because the SEO when you look them up really point toward MyCrypto.com. Simple difference with completely different outcome.
So Crypto.com has been around for a while and operates both an exchange service along with a separate wallet. I may be mistaken but the wallet seemed to come after. So when you look for these in the app store or google land you will see the crypto.com app and the crypto.com wallet.
They can be connected but exist as different entities. And as you would expect, the app is centralized and the wallet is decentralized in terms of you having possession of your keys. So it's important to have your seed word for the wallet and logon credentials for the app differentiated as well as secure.
As an aside;
Please don't be one of those people who copies or takes a picture of your seed word. Grab a pen and your seed word journal and write it down.
I realize there are plenty who are reading this who have much more sophisticated means of holding their seeds etc, but this one is tried and true.
With all of the wallets and services in existence so far what is the super power that Crypto.com possesses. First thing you might notice is that out of the 3 exchanges looked at so far in this series, Crypto.com is consistently rated higher.
Whether it is because the user base is different or the functionality is better is hard to say. Personally I can attest to the agility of the app whether purchasing, sending or receiving. I have yet to stake anything but reviews there are strong as well.
Trust Pilot is giving a 3.3 out of 5. I have seen in general that Trust Pilot may be a little more harsh in their reviews from the submissions, but consistency is the name of the game in reviews.
Having 1's and 5's should be a major cause of alarm over solid 3's or 4's. So far so good for our friends at Crypto.com
Bitcompare does a high flyover in their write-up as well and scores reflect another set of consistent results. So far, 2 for 2.
I typically am not a big fan of the Coinbureau in their reviews. Whether it has been misinformation from years back or just not spending enough time learning their content, I was pleasantly surprised when seeing their extensive writeup on Crypto.com
With nearly four years in business, Crypto.com is making a huge splash in the cryptocurrency world. With cards now being delivered in Singapore, the U.S. and the U.K.. and soon landing in Europe as well, the Crypto.com brand could be poised to explode in 2020. - Coinbureau
Without diving deep into the tech behind Crypto.com or looking at the "pumpamentals" as you would hear @IvanonTech about. Everything looks to be in order with Crypto.com.
The Laundry List
The laundry list of features with Crypto.com seems to be really full. You'll see me write about the 80% solution a lot. In everyone's mind we want to see the 100% solution to what we do but in reality we only need 80% and even that is suspect.
With Crypto.com it seems there is a pretty full list of most features that folks want when they are looking at an Exchange / Wallet combo;
- Security - centralized v. decentralized
- Strong native token with staking MCO & CRO
- Fiat capabilities
- Ease of use
- and did I mention security?
Upon searching and looking a little deeper I couldn't find anything that exposed vulnerabilities in their approach. Rather I saw different threads that spoke to the point of Crypto.com being a little slower to market because of their approach in terms of security and usability. ...Interesting.
So What's My Take?
Overall Thumbs Up. Crypto.com isn't my go to source but is the back-up hitter when I need it. I do not have any personal experience with MCO / CRO, but have talked to plenty of others who speak very highly of it.
This is comforting when looking at other areas as well. I'm sure that a case could be made that a strong native token doesn't mean a strong project, I tend to look through the other side of the window.
Perspectives huh? Everyone has them.
NOTE: Thanks for taking a moment to check out this article!
When I think back to all of the $50 of BTC that I have missed over the last couple years, it makes my stomach turn a little bit. It was part reluctance to participate with affiliates and the other part was being less deliberate about engaging in the crypto space.
Less on learned on this end for sure. If you don't have a Crypto.com setup yet it just takes a few minutes and you can use this link:
How it works;
If this looks interesting, don't hesitate; Crypto.com.