My Experience of Crypto.com
History
Crypto.com was founded in 2016 and provides services such as a Crypto exchange, buy and sale of cryptocurrency, dedicated app, wallet, earning opportunities, credit facility and tons more. The company is headquartered in Hong Kong with around 150+ employees.
Services
1.Application
I like the app. It has good features. It looks aesthetically pleasing and performs well. Only shortcoming is that it is confusing to use and has many options. At times it becomes overwhelming and you lose track of what you wanted to do or how to reach a specific place in the app.
Below is the screenshot for the home page. Shows your balance (which you can hide). Has an option to make payments which they refer to as Crypto pay.
Below is the screenshot for your account page that shows total amount you hold and then shows your crypto wallet which displays the cryptocurrency you hold.
Crypto Earn is a feature wherein you can earn interest over your deposited cryptocurrency. You need to deposit your cryptocurrency and then you can choose for how long you want to deposit it and accordingly app will show you the interest rate.
Below screenshot shows the menu where you can select various option..
You can choose wallet and buy crypto with fiat or credit card. You can send crypto to other crypto.com users without any fees. Withdraw your crypto to another wallet. You can track various coins (around 200)
2. MCO, CRO Tokens
MCO and CRO both are tokens facilitated by crypto.com.
MCO token is based on Ethereum blockchain and is basically aimed for users to stake and earn rewards. As of now 1 MCO is equivalent to $5.35 USD.
CRO is also based on Ethereum Blockchain as well. Both the tokens are ERC-20 standard. CRO is meant for payment on crypto.com blockchain. It also enables low trading fee when crypto.com exchange is used. As of noe 1 CRO is equivalent to $0.092982 USD.
3. MCO Card
The MCO Visa card is being marketed as crypto.com USP. Once you apply for the card you can earn cashbacks (1-5%) in MCO tokens.
MCO cards enable you to enjoy higher interest rate on your deposited crypto.
Another thing they stress upon is the aesthetic and feel of the card as it is made of metal and available in various colors.
You need to stake certain amount of MCO tokens for a period of time in order to receive the higher tier cards. After the time period (6 months) you can withdraw your MCO tokens and have access to the card for lifetime without any annual fee.
Below are some features and benefits of the card.
I have opted for the Ruby Steel (50 MCO) card and am excited to try it once it starts shipping. I had to stake 50 MCO for this card which i will receive back in 6 months.
4. Credit line.
Another feature of crypto.com is its Credit line and loan facility. Deposit specified amount of any of the major cryptocurrency and receive instant credit line of 50% of your deposit. Although i have not opted for this facility yet but it is definitely something worth looking for.
5.Earn
Earn for staking your cryptocurrency. I have not opted for this facility but the interest rates does look on the higher side when compared to others.
6. Other Details.
Below is the crypto.com roadmap which you may find useful.
As of now crypto.com has a user base of over 2 million customers. So far my experience has been worthwhile, app is robust, performs great and has some nice features. Although i have not opted for credit line and staking but i think these features are pretty interesting. I might be open to staking here in future. I am excited to try the card as well once it starts shipping.
Here is the link for the app and here is my referral code- 25qn4cxzxu .With this link we both get $50 USD worth of MCO tokens once you register and stake 50 MCO for the MCO Visa Card. Once you receive the MCO tokens you can withdraw them to fiat or exchange into any other cryptocurrency.
