Crypto.com Crypto Wallet Review

Choosing the right cryptocurrency wallet can be overwhelming when faced with so many options and features to consider. Crypto.com offers an easy-to-use and highly secure crypto wallet with plenty of trading pairs best suited for those with a moderate amount of experience in crypto.

However, it may not be best for those just starting out in crypto, and its fees may be high depending on how you trade. It's also only available in certain states and countries, so you'll have to check whether your location is supported.

Read on to learn the details about Crypto.com's digital wallet so you can decide whether it's right for you.

Best for user experience

The Crypto.com crypto wallet is one of the most popular online wallets for digital assets, with over 70 million users. This is mostly due to its great user experience: Crypto.com's app is easy to set up, fund and use. Additionally, with the Crypto.com wallet and ecosystem, you can easily trade over 250 currencies with different operation types — including spot, futures and staking.

Below, we take a deep dive into everything you need to know about this wallet, including its pros and cons.

Crypto.com crypto wallet pros and cons

Pros explained

Best for those with experience in crypto

If you're someone with experience in crypto markets, you're probably looking for a product that gives you access to a variety of currencies so you can diversify your portfolio as much as you want. Crypto.com's wallet is excellent for this, as it supports hundreds of different tokens and coins.

The Crypto.com app includes the usual features for this type of product, such as simple asset management, swapping, spot trading and derivatives. However, it also offers advanced features that other wallets don't, such as stop-loss limits and over-the-counter (OTC) trading.

You can also stake Crypto.com's token, called Cronos (CRO), to earn a high annual percentage yield (APY), and even purchase nonfungible tokens (NFTs) from the app. These features make Crypto.com an excellent option for seasoned crypto traders.

Highly secure

Experienced crypto investors know that security is one of the most important considerations when it comes to managing your cryptocurrency assets. Crypto.com's wallet is well-known for its high security standards, including multifactor authentication (MFA) to protect transactions.

MFA is a security system that requires more than one form of identification to access your funds. The Crypto.com crypto wallet includes a password, biometrics, email, phone number and authenticator verification. Plus, in the unlikely case that your account is compromised, Crypto.com protects you by allowing you to restore up to $250,000 in unauthorized withdrawals.

Lots of buying and selling options

Crypto.com's wallet lets you easily buy, sell and store over 250 cryptocurrencies directly in the wallet’s web platform or app. This includes popular tokens, such as bitcoin and Ethereum, as well as top altcoins, like XRP, Chainlink, Dogecoin and Polygon.

Users can buy and sell assets through the wallet by using bank transfers and credit or debit cards. They can also request a physical card or virtual card to make payments with your crypto and get rewards. Crypto.com supports over 20 fiat currencies.

Cons explained

Not ideal for beginners

Crypto.com's numerous wallet features can be overwhelming for those new to the world of cryptocurrency. And with few educational resources or help tips available on the app, it may be hard for beginners to learn as they go.

Another reason why the platform may not be ideal for beginners is that customer support could be better, according to user feedback. If you expect help managing your wallet or using your crypto, consider looking into a wallet with better customer service.

Not widely available

You can buy and sell cryptocurrencies in over 100 countries using Crypto.com's wallet. The physical card feature is only available for users in Singapore, the U.S., Canada and some countries in Asia and the European Union. You can find a list of supported countries on Crypto.com's website. Additionally, due to legal restrictions, you can't open an account in the state of New York.

Fees can be high

Another disadvantage of using Crypto.com as your main crypto wallet app and trading platform is its relatively high fees.

Crypto.com uses a maker-taker fee structure that charges different spot trading fees depending on your transaction volume per 30 days. For example, the starting transaction fee for a maker is 0.0750% and for a taker is 0.0750% for a volume of less than $250,000 in 30 days.

However, the platform offers a discount on these fees to users who stake a certain volume of CRO, the native token of the Crypto.com ecosystem. The more CRO you stake, the higher the discount you receive on your trading fees.

Crypto.com crypto wallet plans and offerings

Below are the main offerings and features of the Crypto.com ecosystem.

Mobile app

Crypto.com offers an easy-to-use mobile app available for iOS and Android devices in supported countries. You can use this app to securely buy, sell, swap and stake crypto.

This app also serves as an exchange where you can manage your crypto. However, to store your crypto and own your private keys, you need to transfer the tokens from this app to Crypto.com’s DeFi Wallet app.

DeFi wallet

The DeFi wallet from Crypto.com is a non-custodial wallet. In this type of wallet, you control the private keys to your account for full access to your cryptocurrency.

Your private key is a unique code that allows you to prove your crypto ownership and make transactions. In a custodial wallet, the exchange controls those keys, which can result in you losing your tokens if the exchange goes through financial difficulties or suffers from a data breach.

The DeFi wallet lets you program a 12-word recovery phrase that will help you access your wallet in case you forget your private key. Overall, it’s a secure way to store and stake your coins that easily integrates with other Crypto.com products.

Crypto.com exchange

The Crypto.com exchange is a desktop platform designed for seasoned traders and investors looking for more sophisticated tools to analyze trends and make informed trading decisions. The platform offers a wide range of charting tools, technical indicators and other features that can help users better understand the crypto markets. Similar to the wallet app, this is one of the best crypto exchanges in the market.

If you're planning to make frequent advanced operations, day trade or trade with derivatives, you will likely be using this platform often.

Crypto.com crypto wallet pricing

Setting up an account and downloading the Crypto.com wallet is completely free. However, you have to pay several fees depending on what you do with your account. There are different fees for spot trading, derivative trading and withdrawals.

As mentioned above, you can reduce these fees by staking CRO, but the discount you receive depends on how much you trade. At high volumes, it's possible to lower your trading fees to 0%, which is why Crypto.com is also one of the best crypto-staking platforms.

Below are the main fees you would have to pay for spot trading without the staking benefits:

You'll also have to pay withdrawal fees, which depend on the tokens you are moving out of your account.

Crypto.com financial stability

The crypto space often raises concerns about financial security. After all, crypto assets are highly volatile, and many projects have gone bankrupt, as well as no small number of scams.

Nonetheless, Crypto.com is ranked #1 in the security category by CER.live, the top crypto exchange cybersecurity rating organization. This demonstrates that it is a relatively trustworthy platform with stable assets. Plus, as part of its Account Protection Programme, Crypto.com gives users up to $250,000 in protection in case their accounts get compromised.

Crypto.com accessibility

Availability

The Crypto.com app is available in most countries, with some restrictions, including New York, Bolivia, China, Iran, Russia and more. In addition, the physical Visa card is only available to users in Singapore, the U.S., Canada and some countries in Asia and the European Union.

Contact information

To contact the Crypto.com customer support team, you can send an email to contact@crypto.com. There is also 24/7 live chat support on the platform’s website.

Additionally, you can reach out to the company on its social media accounts, such as Twitter at @cryptocom.

User experience

Crypto.com is a widely available platform that has an extensive library of educational content on its website. The Crypto.com DeFi wallet is easy-to-use and has an intuitive interface. It also has an average rating of 4/5 on the Apple App and Google Play stores.

To use it, you can fund your account through a bank transfer and with your credit or debit card. Then, you can choose one of the over 250 tokens available on the platform and place your order immediately. The app allows you to track the growth of your entire portfolio and make quick operations.

Crypto.com customer satisfaction

The DeFi wallet has relatively solid ratings as an app, but as an entity, Crypto.com has a low customer satisfaction score. Based on 6,330 reviews on Trustpilot, people gave this platform a 2 out of 5-star rating. Of all of these reviews, 65% are 1-star ratings.

Some of the most common complaints with Crypto.com are related to customer support, with users complaining about unresolved issues and slow response times. However, positive reviews mention the quality and availability of its advanced features.

How we evaluated Crypto.com crypto wallet

To make this Crypto.com wallet review, we analyzed the factors listed below:

• Features and cryptocurrencies available
• User experience and ease of use
• Availability by location
• Fees, including trading and withdrawal fees
• Security measures available, such as password authentication and recovery
• User reviews on Trustpilot

Summary of Money's Crypto.com crypto wallet review

Crypto.com's DeFi Wallet is an excellent option for advanced crypto users. It offers over 250 cryptocurrencies and various order types so you can easily do spot trading, derivatives trading, analysis, storing and staking without leaving the Crypto.com ecosystem.

The mobile app is easy to fund, and you can get great discounts on trading fees by staking the company's token, CRO. Crypto.com uses multifactor authentication and grants eligible users up to $250,000 in case of a loss of assets. This makes it a highly secure wallet to store your crypto.

On the other hand, if you don't want to stake CRO, the platform’s fees can add up. The Crypto.com app can also be difficult to navigate if you're new to crypto, and Crypto.com's customer support is a common source of complaints for many users.

With all this in mind, the Crypto.com wallet is the best wallet for crypto experts looking for an easy-to-use mobile app that offers a physical card.