Crypto.com is one of the best cryptocurrency exchanges to start trading cryptocurrencies. If you’re new to the crypto market, then using this exchange is an excellent platform to begin your crypto trading journey. So, stick to the end as our guide teaches you how to trade crypto on Crypto.com and takes you through everything you need to know about the exchange.
Table of Contents
- What We Cover in This Guide
- What Is Cryptocurrency Trading?
- So, What Is Crypto.com?
- Crypto.com: A Brief History
- 5 Key Features of the Crypto.com Exchange
- Pros and Cons of Crypto.com
- How to Register for a Crypto.com Account?
- How to Trade Crypto on Crypto.com Using the Website?
- How to Trade Crypto on Crypto.com Using the Mobile App?
- Other Ways to Trade Crypto on Crypto.com
- Derivatives Trading
- Margin Trading
- What Are the Available Payment Methods on Crypto.com?
- Crypto.com: Fees
- Crypto.com: Security
- The Crypto.com Native Token (CRO)
- What Is the Current Market Price of CRO?
- Staking CRO on Crypto.com: How to Do It?
- What Is Staking in Crypto?
- How to Stake CRO?
- How to Stake CRO on the Crypto.com Mobile App?
- Benefits of Staking CRO on the Crypto.com Exchange
- Risks of Staking
- Crypto.com vs. Coinbase Pro
- Frequently Asked Questions
- Final Thoughts
What We Cover in This Guide
It would be terrible on our side if we jumped straight into this article without explaining the basics of trading cryptocurrency briefly. That said, what do we mean by cryptocurrency trading? The following section will help you understand it.
Disclaimer: If you are familiar with the Crypto.com mobile apps or website, you can skip to the other parts of this article. Again, this article is for beginners who have never used the Crypto.com platform. However, if you have tried and found it confusing, this article will help you through the hurdle.
What Is Cryptocurrency Trading?
Before we explain how to trade crypto on Crypto.com, you need a basic understanding of cryptocurrency trading.
Cryptocurrency trading involves the act of speculating the market price movement of a crypto asset. You can also define cryptocurrency trading as the buying and selling of cryptocurrencies. However, there is a difference between both definitions. The market price is estimated via a Contract for Difference (CFD) trading account. On the other hand, buying and selling of cryptocurrencies is done via an exchange. So, what are the steps to start trading cryptocurrencies? It’s as simple as…
- Register on a cryptocurrency exchange or with a broker
- Verify your account
- Fund your trading account
- Select a cryptocurrency from a long list of trading pairs
- Start trading
It is as straightforward as that. Now, let’s look at how you can trade using Crypto.com. But we won’t go further without defining what Crypto.com means.
So, What Is Crypto.com?
Crypto.com is considered one of the leading cryptocurrency exchanges to buy and sell cryptocurrencies. Apart from trading, the platform offers the opportunity to invest, stake, and earn interest on specific currencies. You can buy and sell Bitcoin, Ethereum, and up to 250 other cryptocurrencies on the platform.
Just so you know, the trading platform has its native token, the CRO. CRO holders enjoy additional discounts on trading fees. Besides these fantastic features, Crypto.com also provides an NFT marketplace and a crypto credit card for interested users. Now that you know a little about the platform let’s look at how it started.
Crypto.com: A Brief History
Kris Marszalek, Bobby Bao, Dary Or, and Rafael Melo founded Crypto.com in June 2016. The company started with its headquarters in Hong Kong. Initially, their goal was simple— to help everyone completely control their data, identity, and money. The company believed cryptocurrencies could achieve the objective. Hence, they created it.
It should interest you that they did not call the company Crypto.com at first. It started with a name called “Monaco.” However, they changed it to Crypto.com in 2018 after purchasing the domain from Matt Blaze, a cryptographer. Today, Crypto.com boasts of having over 50 million users across 90 countries. Before we go into the details of trading cryptocurrency on the platform, let’s look at some key features and pros and cons.
5 Key Features of the Crypto.com Exchange
The Crypto.com app offers some incredible features that might interest you. These features contribute to why it is one of the most used exchanges for trading cryptocurrencies. Here are some of them.
- Up to 14.5% annual interest on cryptocurrency investing
- A user-friendly mobile application
- Lower fees than most exchanges at 0.40%
- Ability to take crypto loans as a user
- No hidden taker fees
Pros and Cons of Crypto.com
|Crypto.com supports over 250 cryptocurrencies.||Crypto.com’s support team can be unresponsive at times.|
|It offers spot, limit order, futures, and advanced trading.||Its transaction fees are higher than other exchanges except for CRO holders.|
|You can access discounts on trading fees if you hold its native cryptocurrency.|
|Crypto.com allows users to stake, earn interest, and trade NFTs on its platform.|
|The platform offers its credit card to users, while it provides its own crypto wallet.|
How to Register for a Crypto.com Account?
One of the fastest ways to open a Crypto.com account is to download the mobile app. Of course, you can do it via the website too. However, the official app makes the process swift and easy. Here are the simple steps to open an account on the Crypto.com exchange.
Step 1: Sign Up for Free
Register for free by visiting the official website. You can also download the Crypto.com app from the Google play store or Apple store.
Step 2: Fill in Your Correct Details
Enter your full name, email address, and other necessary details. Choose a suitable password and click ” create an account.” Once you do that, Crypto.com sends a confirmation email to validate your registration.
Step 3: Verify Your Trading Account and Wait for Confirmation
The next step is to verify your account. Crypto.com takes its verification process seriously. As a new user, you will be required to provide a valid means of identification. Crypto.com will also require that you upload a selfie and a live video of yourself. Once you pass all these stages, you can get right into trading.
Note that you don’t have to worry about the process. Verification takes no more than 10 minutes as long as you have the proper documents.
This video by MoneyZG explains in detail how to go about registration as a beginner.
Registering for a Crypto.com account does not automatically mean you will make profits. However, the exchange offers a fantastic user interface and experience to trade. You should also note that trading cryptocurrencies come with its own risk. Both seasoned traders and beginners sometimes find their invested capital going down the drain.
How to Trade Crypto on Crypto.com Using the Website?
Trading cryptocurrency on the Crypto.com exchange is straightforward.
1. Visit the Website at Crypto.com/exchange and Click on Login
2. Login to Your Account and Click on the Markets Page
On the page, there are three options—spot, perpetual, and futures.
You can choose either of the three depending on your trading goals. But as a beginner, we suggest that you start with Spot trading. This, then moves us to the next step.
3. Choose Your Trading Pairs
Crypto.com offers lots of trading pairs like the image above. So, let’s assume you want to trade the BTC/USDT pair. All you need to do is click on it or the “trade” button. The markets page takes you to this page below.
Input the amount of BTC you intend to buy and make the order. There you have it. You have just traded USDT for BTC. If you want to sell, it’s almost the same process. However, you will need to switch from the Buy button in the trade section to the sell button.
Once you have done that, the system will automatically sell your Bitcoin for USDT. However, you should note that this is a way to trade at market price movement. Also, there are other ways to trade on Crypto.com apart from spot trading. We will discuss some in the latter part of this article. First, let’s explain how you can trade using the Crypto.com official application.
How to Trade Crypto on Crypto.com Using the Mobile App?
The Crypto.com app is available on both iOs and Androids. Unlike many exchanges, the Crypto.com app is one of the most user-friendly. So, do not overlook this part if you plan on trading using the mobile app. Let’s take you through the trading steps.
Step 1: Download the Mobile App on the Google Play Store or Apple Store
Step 2: Login to Your Already Existing Account
If you don’t have one, create it. The steps are similar to the one via the website.
Step 3: Make a Deposit
You can link your bank account to your crypto.com fiat wallet.
Crypto.com offers a wide range of currencies for deposits. You can deposit using the US Dollar, Australian Dollar, and Euro, among others. You should note that deposits can take a while to reflect, especially if you just verified your account. Once the deposit is confirmed, you will be notified. Then, move to the next step.
Step 4: Buy Crypto
After your money has reflected in your fiat wallet, you can then proceed to buy crypto. Click the “Buy Crypto” button.
Step 5: Input the Amount of Crypto You Intend to Buy and Continue
Once, you’ve done that. You get a notification of a successful purchase.
You can check your wallet to see your crypto holding via the app. If you want to sell, the steps are similar. So, instead of selecting the “Buy” button, you choose “Sell.”
Then, choose the specific cryptocurrency you intend to sell.
Sell back to your fiat wallet. You can also sell for other cryptocurrencies. Let’s say you own Bitcoin and want to sell it for Cardano, for example. All you need to do is deposit into your crypto wallet and choose the “Sell” option.
So trading on Crypto.com is as simple as that. However, there are other trade methods than traditional deposit methods. Crypto.com offers derivatives trading and spot and margin trading. Let’s look at them. You should, however, note that derivatives and margin trading are advanced and not encouraged for beginners.
Other Ways to Trade Crypto on Crypto.com
This is an advanced kind of trading. It involves a contract backed by an underlying asset. So, let’s assume that you believe that the price of Bitcoin will increase. Another party acknowledges that it will decrease. Then, both of you agree within a specific period. Anyone that gets the prediction correctly loses money to the other party. With derivatives trading, you can lose money rapidly. Crypto.com offers two kinds of derivatives trading—perpetual and futures.
Trading futures on Crypto.com involves a contract between a buyer and a seller to predict the future price of an asset. So, let’s assume a buyer purchases Bitcoin at $20,000, increasing to $35,000; by the time the contract closes, the buyer would have gained $15,000. However, if the price drops to $12,000, the buyer would have lost $8,000 to the market.
Perpetual contacts are another kind of derivatives trading. In this case, market order positions do not have an expiry date, unlike in futures. Day traders usually do this kind of trading. So, how does it work? Let’s assume that the price of Bitcoin is $20,000; you can open 20,000 long positions to trade the amount equal to 1 Bitcoin. Unlike futures, you can hold this position for as long as you desire. Depending on your discretion, this period could translate into days, weeks, or months. Once you close the position, the exchange pays you money from another trader who chose to short the position. In this instance, the other trader has lost money.
Margin trading is another kind of advanced trading on Crypto.com. Crypto.com allows you to borrow digital assets on the exchange and trade on the spot market. However, it would be best if you had a collateral asset to borrow; not every trader is eligible to trade margin. That said, you should note two important things when trading margin.
- You can borrow the same asset as your collateral. Your borrowed asset can be BTC, and your collateral can be BTC.
- You can borrow another kind of digital currency besides your collateral. Your collateral can be USDT, and your borrowed asset can be BTC. However, Crypto.com does not support all trading pairs for margin trading. Here is a detailed list of supported trading pairs.
Note that we do not provide any investment advice. This article is entirely informational, aimed at offering the proper education for crypto newbies. We suggest that you read with an open mind and consult with a financial markets expert if you intend to start trading cryptocurrency. Trading in some regions is considered illegal. So, confirm with the proper authorities if the rules of your country support crypto trading. Remember that we will not take responsibility for any of your financial decisions. Carry out due diligence.
What Are the Available Payment Methods on Crypto.com?
Crypto.com offers several payment methods irrespective of region. Here are the most popular ways to deposit on Crypto.com:
- Credit card
- Direct deposit with fiat currencies
- TransferWise or SEPA
Recently, Crypto.com added a method for users to make deposits. On June 24, 2022, the company announced that it was adding Apple Pay to its payment methods.
Crypto.com fees are at a lower price than many exchanges. However, not the lowest, Crypto.com fees are very reasonable. The exchange charges 0.40% on trades for new users. However, cryptocurrency traders with high volume get charged lower costs. Crypto.com charges 0.04% in maker fees. At the same time, the platform charges 0.1% in taker fees for traders who trade over $25,000.You should note that these fees are for users who don’t own or stake CRO. Users who are active in staking CRO are charged a lower price.
Crypto.com is a highly-secure trading platform. The cryptocurrency exchange offers top-notch security models superior to many exchanges. In addition, the platform uses robust monitoring systems and cold storage to help keep user funds safe. This system also helps in preventing hacks on the platform. However, Crypto.com expects that you play your own part. The platform expects you to have a strong password to protect your trading account. You must also activate the Multi-Factor Authentication (MFA) on the platform. Doing all of these will keep your account safe from fraudulent penetration.
The Crypto.com Native Token (CRO)
Cronos, popularly called CRO, is the native cryptocurrency of the Crypto.com exchange. The coin launched in 2018 and acts as the platform’s utility token.
Users can earn a high-interest rate by owning CRO. The token also grants users exclusive access to their own Crypto.com debit cards.
Besides being a utility token, Cronos has its own blockchain. This blockchain can host some Decentralised Applications (DApps) just like Ethereum. You should, however, note that Cronos is not as sophisticated as the Ethereum blockchain.
What Is the Current Market Price of CRO?
As of this writing, the current market price of CRO is $0.10. This price is one of the lowest the coin has reached. However, it would interest you to know that the coin has gone as high as $0.90 at some point. It should also interest you that CRO has a market capitalisation of $2.7 billion (October 3, 2022). The token also has a maximum supply of 100 billion tokens, with 13.2 billion currently in circulation.
Staking CRO on Crypto.com: How to Do It?
Staking the Cronos token (CRO) is one thing that makes Crypto.com stand out from other exchanges. However, we get it that you might not understand what staking cryptocurrency means. So, first, let’s define staking.
What Is Staking in Crypto?
In simple terms, staking is holding specific cryptocurrencies to earn a reward. So, think of it as having money in your high-yield savings bank account and earning interest over a particular period. However, crypto is a bit different as not all cryptocurrencies can be staked.
In blockchain technology, staking involves holding specific cryptocurrencies by supporting their blockchain. This activity can help you make passive income without actually doing any work. You should, however, note that staking only works for coins on the Proof-of-Stake (PoS) consensus mechanism.
Want to understand how staking works in a more detailed manner? Whitebaord Crypto explains it in this video.
So what cryptocurrencies can you stake? Let’s mention a few.
- Polkadot (DOT)
- Ethereum (ETH)
- Solana (SOL)
- Cardano (ADA)
- Avalanche (AVAX)
- The Crypto.com native cryptocurrency — Cronos (CRO)
How to Stake CRO?
You can stake CRO whether you use the exchange website or mobile app. If you intend to use the website, here are the steps to follow.
Note that you need to have CRO in your Crypto.com digital wallet before you can stake.
1. Login to your trading account at crypto.com/exchange.
2. Select “Stake and Earn”.
3. Then, select CRO staking.
4. Enter the amount of CRO you want to stake, and click confirm.
5. You can also decide to add more CRO by clicking the “Stake more CRO” like in the image above.
6. Once done, you will be notified of CRO staked and the number of days it will take for you to withdraw.
However, note that you can only withdraw after 180 days of staking your CRO. If you intend to use the mobile app, the steps are a bit different. Let’s summarise it for you.
How to Stake CRO on the Crypto.com Mobile App?
- Open your Crypto.com mobile app.
- Purchase CRO if you don’t have any using the Crypto.com visa card or your debit card, or trade another coin for it.
- Select “Stake CRO.”
- Enter the amount of CRO you want to stake and tap the “Stake CRO’ button.
- The next page shows you a validator list. Select ” Confirm Validator.”
- Then, confirm the stake. Review the amount you intend to stake and click ” Confirm Stake.”
- The next page shows you that your request has been submitted. You can check the status by selecting the ” View Details” icon.
Here is a quick video on how you can successfully stake CRO on Crypto.com.
Benefits of Staking CRO on the Crypto.com Exchange
Owning CRO and staking it on the exchange gives you great benefits that ordinary users won’t get. The advantages of staking CRO include
- Access to an exclusive Crypto.com visa card
- Better Annual Percentage Rate (APR) on Crypto Earn and Crypto.com loans
- Extra card cashback and purchase rebates with your cryptocurrency wallet
- Good interest in long-term CRO investments
- Option to pay trading fees with CRO instead of specific cryptocurrencies
You should know that staking CRO comes with its own risk. Like any other investment, there are downsides to it. Now, let’s look at some disadvantages of staking cryptocurrencies like CRO.
Risks of Staking
- Market sentiment and price volatility can affect the interest you earn.
- You cannot withdraw your assets unless it reaches the lock-up period. In CRO’s case, you can only withdraw after 180 days.
Crypto.com vs. Coinbase Pro
Most exchanges are similar to Crypto.com in terms of features, usability, and fees. However, there are a few differences between them. So, let’s compare Crypto.com with one of the most used crypto exchanges globally.
|Low taker fees||High fees|
|250+ cryptocurrencies||150+ cryptocurrencies|
|Private keys feature and multi-factor authentication||Multi-signature wallet and AES-256 encryption|
|FDIC insured||FDIC insured|
|Uses a cold storage||Uses a cold storage|
|Two-factor authentication available||Two-step verification available|
|30-day withdrawal limit of $500,000||$25,000 per day deposit limit orders|
|Free wallet conversion fee||1% wallet conversion fee|
|Not so excellent customer service||Moderately good customer service|
|An added advantage of staking CRO||Opportunity to earn crypto by learning|
Frequently Asked Questions
Now that you know how to trade crypto on Crypto.com, there is a chance that you have other questions. We have dedicated this section to address possible ones you might have.
Is Crypto.com Safe?
Crypto.com is one of the safest platforms to start cryptocurrency trading. The app is beginner-friendly, and you can buy and sell digital assets with little to no risk of fraud. You can also store, earn, and loan assets from the platform as an added advantage.
Is the Verification Process Fast?
Crypto.com offers a high-speed verification system. While the platform requires that you pass all the three-step KYC processes, confirmation is fast. Crypto.com might ask you for a valid ID and make a live video of yourself to finish the verification process.
What Are the Trading Fees?
Trading fees on Crypto.com begin at 0.40%. However, large-volume traders can enjoy less taker fees and the platform’s native token holder.s
How Many Crypto Assets Does Crypto.com Offer?
The Crypto.com exchange offers as many as 250 cryptocurrencies. You can buy Bitcoin, Ethereum and trade for other cryptocurrencies via the mobile app or website.
What Are the Payment Methods?
Crypto.com offers several payment methods. You can deposit via your debit card or link your bank account. You can also send crypto from another exchange to your Crypto.com cryptocurrency wallet.
Does the Crypto.com Exchange Have Their Own Token?
Yes! Crypto.com has its own native cryptocurrency, known as Cronos (CRO). Crypto.com launched Cronos in November 2021. The company created the coin to contribute to the creator economy and supports Decentralised Applications (DApps).
How Many Traders Use Crypto.com?
As of this writing, Crypto.com officially has about 50 million users. However, the company has recently been expanding into other countries, and the number may likely increase soon.
Can I Earn Interest as a Crypto.com User?
Yes, you can earn interest on Crypto.com. However, it is only for specific cryptocurrencies. Crypto.com offers interest on coins like Bitcoin, Ethereum, and Polygon with an offer of up to 14.5% annual interest rat .
Is Crypto.com Better Than Binance and Coinbase Pro?
Crypto.com might not be better than Binance regarding the number of cryptocurrencies offered. However, it beats Coinbase Pro in that regard. Crypto.com is also much more decentralised than both Binance and Coinbase Pro. As a user, Crypto.com acts as a custodian for your crypto assets. That is, you have complete ownership of your digital wallet.
Should I Invest in CRO?
Investing in cryptocurrencies comes with its own risk. So, we can’t decide if you should buy CRO. Remember that the cryptocurrency market is highly volatile, and losing money rapidly is not out of the question. You can, however, do your own research.
Does the Crypto.com Cryptocurrency Exchange Close?
No. Unlike the traditional financial markets, the crypto market has no closing time. So, if you intend to trade on Crypto.com during the day or late at night, you have unrestricted access.
Is Cryptocurrency Trading Profitable?
We can’t determine if trading in the cryptocurrency market will be profitable for you. Of course, there are records of traders who have made good numbers from the market. Some traders have lost it all. Profitability sometimes depends on market sentiment, and it’s out of your control. However, proper education and consistent practice can help you achieve your trading objectives.
Crypto.com is a highly great platform for beginners to start trading. With over 250 available cryptocurrencies, Crypto.com ranks among some of the best globally. However, we suggest that you familiarise yourself with the concept of crypto trading before investing.
Let’s also remind you that Crypto.com does not have the best customer service. However, the mobile app does a lot of good if you’re new to crypto. Registration, verification, and deposits take only a few minutes.
We are dedicated to helping newbies understand the crypto space as a team. Hence we believe his guide would help you understand the Crypto.com platform. If you have read this part and are okay with the Crypto.com exchange features, you can register to confirm if the platform suits your trading objectives.