Crypto.com/exchange is an online platform that supports investors to invest in cryptocurrencies. The digital asset exchange organisation offers several cryptocurrency products and services, meaning an investor can buy, sell, trade, spend, store, earn, loan cash and even pay bills with cryptocurrencies using Crypto.com/exchange. The platform is slowly growing in popularity around the world.
What is Crypto.com/exchange
Crypto.com/exchange app and website is a Switzerland-based global digital asset service company that provides users with a chance to invest in cryptocurrencies easily and effectively. The beginner-friendly application offers a wide range of products in which one can buy, trade, sell, store, earn, loan and pay bills using cryptocurrencies. The Crypto.com/exchange app currently has around 10M installs on the Play Store with a rating of 5.1 stars. The app is great as per various user feedback on the app store, but many users have also complained about how difficult it for them to buy or sell digital assets during times of volatility.
- Deep and Global Liquidity: Crypto.com’s proprietary Vortex Liquidity Engine ensures that customers have access to deep liquidity pools and best execution prices.
- Very Competitive Trading Fees: Typical API trading account fees at 0.008% maker and 0.02% taker, high volume accounts trade for free (after Volume & CRO Staking discounts).
- Institutional Grade Custody & Security: Crypto.com’s ISO Certification 27001:2013, PCI DSS (Level 1), CCSS (Level 3) Compliance and partnership with Ledger Vault.
Here's how you can open a crypto trading account
The process of opening a crypto trading account is simple and easy but you must do proper research before entering the market. Crypto is one of the most popular cryptocurrency exchanges in India and you can open an account with it by following these simple steps:
- You have to download the Crypto app to open a crypto trading account. You can also go to its official website Crypto.com/exchange and click on the Sign Up button.
- You will be asked to enter your email address and then set a password following which your mailbox will receive an address.
- You have to locate the address in your mailbox and verify the Email. You are advised to read all the terms and conditions before you tick the checkbox. But before you begin, you have to complete a KYC process which is different for various exchanges.
Understanding cryptocurrency exchange
Before opening a crypto trading account, one must know the concept of a cryptocurrency exchange, an important component of the crypto ecosystem.
- In simple terms, a cryptocurrency exchange helps in the trading of cryptocurrencies for assets such as digital(Bitcoin, Ether) and fiat currencies (Indian Rupee, US Dollar).
- It acts as a negotiator/brokerage firm between the buyers and sellers and their main sources of revenue are transaction fees and commissions.
- You can deposit money in cryptocurrency exchange via card transactions, direct bank transfers to purchase cryptocurrencies.
- You have to pay a fee to avail the services provided by the cryptocurrencies. In India, the value of Bitcoin stood at Rs 28.2 lakhs while that of Ethereum traded at Rs 1.84 lakhs on August 4, 2021.
- If an exchange deals in Bitcoin and Ether, the currencies can be traded for each other's equivalent value and fiat currencies.
Pros of Crypto.com Exchange
- Rebate on Trading fee: Users can avail rebate on trading fee when they stake CRO on the exchange and pay the fee using CRO.
- Ecosystem offerings: In addition to an exchange platform, users can make use of other features such as Crypto.com App, Crypto Earn, Crypto Pay, and MCO VISA Card.
- Discounts via the Syndicate: The Syndicate is a feature where users get a discount of up to 50% when a new crypto asset is listed on the exchange.
- Robust security: Crypto.com keeps the users’ funds without breaking any security protocol. After the company was audited, it received PCI:DSS 3.2.1 (Level 1) and ISO 27001:2013 compliance certifications, providing an added layer of security.
- Live chat support: Their In-App live support is helpful, as it gives users the ability to get in touch with the support team within 5 minutes.