Crypto.com Exchange is a cryptocurrency exchange headquartered in Hong Kong. It was launched in 2019. In fact, the domain was registered back in 1993 by a cryptographer named Matt Blaze.
It is claimed that the platform is used by over 100 million traders and investors. Crypto.com lists over 140 cryptocurrencies and 250 trading pairs. The exchange can be accessed both from a browser and through a mobile application for Android or iOS.
Contents:
- History of Crypto.com Exchange
- Exchange Security
- Trading on Crypto.com Exchange
- Passive Income Increase
- Referral Program
- Crypto.com Exchange Wallet
- CRO Token
Creation History of Crypto.com Exchange
The Crypto.com exchange was created in 2019 on the Monaco cryptocurrency platform. Since 2016, its predecessor has been offering its clients the opportunity to purchase, transfer, store, and pay with digital assets. After the developers added trading capabilities, the resource quickly became popular and entered the top of the world's cryptocurrency exchanges.
With the help of Crypto.com services, it is possible to use cryptocurrency in everyday life. The founders were four people:
| Name | Position | Description |
|---|---|---|
| Rafael Melo | Financial Director | Previously worked at one of Mastercard's subsidiaries. |
| Bobby Bao | Head of Corporate Development | Experienced banker with extensive experience in the investment-corporate sphere. Before Crypto.com, worked in M&A at a large Chinese bank. |
| Gary Or | Designer, Developer, Entrepreneur | Has a keen interest in the development of artificial intelligence. |
Chris Marsalek - holds the position of CEO, directs the long-term strategy, development of the company, and the consumer brand as a whole.
Cryptocurrency Exchange Security
Crypto.com is the first cryptocurrency company to receive the ISO/IEC 27701:2019 certificate, which is comparable to a gold certificate. This fact alone indicates that the exchange has good protection. The certificate is issued only after a thorough audit by third parties, in this case, the check was carried out by SGS - one of the market leaders.
The company complies with the third level of the CCSS standard. Additionally, the exchange ensures the safety of its clients by applying the following protection methods:
- cold storage is used for storing funds, an insurance fund is organized;
- all assets in hot wallets belong to the company and are necessary to ensure the uninterrupted operation of the network;
- each transaction is checked for the fact of using the platform for money laundering;
- 2FA - two-factor authentication through biometrics or the Google Authenticator application, for full use of the exchange, it is necessary to add all addresses to the whitelist where funds are sent;
- the exchange has insured its assets for up to $360 million.
To use the services of the Crypto.com Exchange, click the "Register" button in the upper right corner of the site. Enter your details: surname and name; date of birth; nationality; email; password (complex enough, with capital letters and special characters); referral code - if any. Agree to the terms of the exchange and click Click to verify. Solve the captcha, click Create Account.
A one-time code will be sent to the email, enter it in the field that appears on the screen. The next step is to indicate the phone number, this is mandatory. Enter the code that came by SMS. At this point, registration is complete. Verification on the platform is mandatory. Without it, there is no access to any functions of the exchange.
Trading on Crypto.com Exchange
Trading is the main direction of the platform, thanks to which Crypto.com was able to expand. To trade on the exchange, you need to go to the "Markets" section, select the pair of interest from the list and click "Trading". The user gets to the classic trading page, where the price movement chart is located in the middle.
The system also provides the opportunity to trade with borrowed funds with a leverage of x3. In this mode, the principle of operation of all types of orders does not change.
The platform provides the opportunity to trade futures. To do this, you need to open the "Markets" page and select the "Futures" section. On Crypto.com, two futures are available in the BTC-USD pair, but for different terms: 80 and 178 days. The system allows you to use borrowed funds to buy assets.
Passive income increase through cryptocurrency
The platform allows you to stake several types of coins, including CRO - a local token used to maintain network functionality. The size of earnings on the deposit is 14% per annum on stablecoins, and on standard cryptocurrency - up to 8.5%. You can invest a minimum of 5000 CRO for a period of 180 days. Also, staking gives other advantages:
- getting the opportunity to reserve one of the metallic premium MCO Visa cards;
- discounts on purchases, additional cashback when using a cryptocurrency wallet;
- improvement of service conditions when using Crypto Credit and Crypto Farm;
- return of CRO when charging a trading commission;
- opening access to the Syndicate platform;
- bonuses from the referral system.
Users can invest not only CRO coins, but also ETH, BTC, USDT, DAI, USDC and much more. Also, clients have the opportunity to use soft staking, which implies an alternative way of earning. To receive dividends, it is enough to have funds in the exchange wallet.
The soft version of earnings allows you to get rid of mandatory holding periods and interacts with all active cryptocurrencies for staking. To use soft staking, you need to have a Starter or Advanced access level. To enable the soft accumulation function, you need to:
- open an exchange account;
- go to the Stake & Earn page and select the Staking section on the left side of the page;
- switch the Keep the minimal holdings and receive switch to active mode;
- agree to the terms of service.
The percentage of earnings from soft staking will depend on the balance in coins and the type of chosen cryptocurrency. For example, interest accrual for a deposit in BTC will start with a minimum of 0.25 BTC. When staking less than 100 thousand CRO, the APR will be 0.25%, and with more than 100 thousand CRO, the percentage will increase to 0.75%.
Referral Program
Like many other exchanges, Crypto.com has its own referral program. If you register on the exchange using a referral link, you will receive CRO tokens worth $50 as a registration bonus, provided that you also stake at least 5,000 CRO tokens and successfully pass KYC verification at the advanced level. Users staking 1,000 - 4,999 CRO will receive $10 as a registration bonus, provided the same requirements are met. The registration bonus will be instantly credited to your exchange wallet, and you can use it for trading.
Once you register on the exchange, you will also become a referrer (existing user) and can share your referral links on your own platform to earn referral bonuses. The referral bonus can be up to $2,000 in CRO depending on the first level of CRO staking by the referral (i.e., your invited user). The referrer is also entitled to receive trading commissions of up to 50% of the net trading commissions of the referral for 12 months.
Crypto.com Exchange Platform Wallet
Upon registration on the exchange, the client automatically gets access to the Crypto.com DeFi wallet, which is used for storing assets. The technology itself allows creating an environment where only the account owner has access to the funds and private keys. To expand the capabilities of the Crypto.com Wallet, you need to connect DeFi Swap, then the user will be able to swap tokens from the wallet. The application can be downloaded from the App Store and Play Market. No additional payments are required. After opening, you will need to set a digital password for the application and write down a passphrase consisting of 12 words. It is essential to write it down on a paper sheet, as it gives full access to the account, but if you forget the phrase or reinstall the application, you will not be able to recover the account. After verification, all wallet capabilities will open. To top up your account in the Crypto.com Wallet, you need to:
- open the application;
- click on the Receive button;
- select the type of coin that will be deposited into the account;
- scan the QR code that appears or copy the address provided in writing;
- enter the received data in the wallet from where the account will be topped up.
It's important to note that transactions can only be made with coins designed for contract wallets. If you send DOGE to an ETH address, the funds will simply disappear.
CRO Token
CRO is a platform token created at the end of 2018, built on the ERC-20 standard. The maximum supply is 30 billion tokens, of which 25 billion coins have been mined. CRO is distributed to perform five functions:
- secondary distribution and launch of incentives to create activity - 30%;
- frozen capital reserve - 20%;
- network long-term incentives - 20%;
- ecosystem grants - 20%;
- community development - 10%.
On the platform itself, the coin is used to maintain liquidity. The exchange tries to encourage the purchase and storage of CRO through staking, including soft version investments. Having Crypto.com tokens in your balance allows you to use some unique features that are not available to other clients. Also, the CRO coin is necessary for making transactions through the mobile application.
