Crypto.com is both a wallet and an exchange platform which was was founded in 2016 by Kris Marszalek as the Chief Executive Officer. It was originally called Monaco Technologies which was latter rebranded to Crypto.com in 2018. Its goal is to accelerates the world’s transition to cryptocurrency. It offers 55+ types of cryptocurrency. This platform can also be used to deposit, withdraw, sell, buy any cryptocurrency which are under its availability.
Crypto.com offers two type of tokens MCO and Crypto.com(CRO).
The MCO token is an ERC-20 token based on Ethereum. It allows users, to earn higher rewards and lower rates by staking the token
CRO is also an ERC20 token and is the newest token offered by crypto.com . It allows users to make crypto payment to any global merchant and used as a means of settlement on its native blockchain.
Some feature in crypto.com are
- Crypto.com Wallet
- Trading and exchange
- Crypto pay
- Crypto loan
- Earn interest
- Crypto traking
- Crypto.com visa cards
- Trading and exchange
Crypto.com wallet
Just like in other types of walet Crypto.com allows the process of receiveing and sending crypto through various other wallets. Uses can deposit/receive fund in crypto.com wallet by clicking on transfer button- press the deposit button- choose the crypto asset- copy paste the address.
They can also send/ withdraw fun by clicking on the transfer button- select withdraw button- select the wallet type( external wallet or crypto.com user or crypto.com exchange) - copy paste the address of crypto you want to send the fund- enter the amount - click withdraw button.
It charges certain amount of fee about 0.0003 BTC for withdrawing to a non crypto.com.Depositing or withdrawing using SWIFT method doesn't charge any fees but may apply a processing fee which get deducted from bank account or from transfered amount
Besides users can buy crypto asset through the fiat wallet in crypto.com using their bank account. And it support up to 21 different currencies. It provides three depositing method SWIFT/SEPA/ACH.
Trading and exchange
Users can trade crypto aswell as buy or sell with Deep Liquidity, Low Fees and Best Execution Prices.
Crypto pay feature
As the name suggest this feature is all about buying and paying with crypto.users can buy giftcard of over 300 brand. And they accept payment with ETH, BTC,LTC, CRO and XRP. With CRO uses can also get a flat 10% cashback. But the percentage of cashback depend in factore such as type of giftcard and staking of more than 1000 CRO in crypto.com.
Users can also top up their prepaid mobile or even top up their frinds using the Airtime feature .Besides its QR scanner allows users to spend their crypto at any store just by scaning the price.
Crypto loan
Crypto.com also provides and instant loan to its users through its crypto credit service. With an interest rate of 12% per annum.The laon is an overcollaterised loan with MCO, CRO,LTC,BTC, ETH and XRP. Wher usera will get 50% of its USD value in stable coin such as Tether, PAX, USDC and True USD. The main advantage of borrowing loan from such platform is that when the market becomes highly volatile and the crypto value reduces drastically then crypto.com will automaticaly liquidate the asset inorder to covers the loan.
Earn interest
Crypto.com allows its users to lend their crypto assets and earn interest. This is the main reason why people are into crypto.com as this platform offers interest upto 18% p.a. Also the earning are credited to the wallet after every 7 days and is paid with the same currency as per deposited.
But the rate of earning interest varies according to the type of assets deposited. Users can get interest up to 12% pa in case of stablecoin such as PAX standard, USDC, TETHER, True USD, DAI etc. And 8% for others crypto assets like BTC,LTC,ETH,XPR,BNB,CRO,LINK,BAT, MKR, TRON,ATOM, BCH etc. Also if users have about 500 MCO coin stake within the app then there is a bonus of 2% interest. Hence in this case users will get 18% interest pa.
There are three method of earning interest
- Flexible where user are allowed to withdraw there assets anytime without any penalty and earn up to a maximum of 14% pa
- 1 month where users can locked up their assets for a period of 1 month and earn up to 16% pa.
- 3 month where uses can locked up their assets for a period of 3 month and earn up to 18% pa.
Crypto tracking
Crypto.com act as a one stop shop for all its users. Its provides an amazing layout chart of each crypto asset profolio. Besides it also have it own version of coinmarketcap within the app and also a price alert function which allows users to notifiy whenever there is a change in price.
Crypto.com visa card
Crypto.com also provides its own Metal visa card . This is currently available in USA, UK, EUROPE AND SINGAPORE. Users can get a cashback up to 5% for There are 5 different type of cards.
Conclusion
Hence with all this interesting features crypto.com act as a one stop shop for all the crypto enthusaistic . Its metal visa is one of the most highly demand feature and also the interest rate provided by this platform grabs many people attention.
