Is crypto.com Safe? | Yes, Pretty Much!

If you are looking for an all-in-one cryptocurrency platform at an affordable price, then Crypto.com might be right for you. 

The more Cronos (CRO) you can bet, the more profit you will make from this trade. Even without the CRO bonus, this is a solid cheap crypto exchange with over 150 cryptocurrencies available in most of the US, especially if you want a crypto debit card. 

Stick around for our full Crypto.com review to determine if it’s right for you and if it’s safe to use.

What is crypto.com?

Switzerland-based crypto.com is a global digital asset services company that offers the opportunity to easily and efficiently invest in cryptocurrencies. 

The beginner-friendly app features a wide range of products that one can buy, trade, sell, store, earn, lend and pay bills with cryptocurrency. 

The Crypto.com app currently has around 10 million installs on the Play Store with an average 3.3-star rating. According to many user reviews on the app store, the app is excellent. By contrast, others have also complained about having difficulty buying or selling digital assets in volatile times.

Is crypto.com safe?

The Crypto.com app and wallet are quite secure as many people worldwide use the platform to buy Dogecoin, Bitcoin, and other cryptocurrencies. 

Using this platform, you can do a few things like buying and selling coins without any risk of fraud, like many Crypto Trading Platforms. Furthermore, users can also buy and sell cryptocurrencies at real prices without any hidden fees.

Although there are no regulations, Crypto.com is quite safe and the company cares a lot about security. The cryptocurrency on the site is kept in physically secure cold storage and it is also insured against theft and damage for the amount of $500 million. There have been no security breaches till date, which just goes to show that security was not overlooked.

How Crypto.com Protects Your Assets

Here’s how cypto.com leaves no stone unturned to ensure that your assets are secure and you can trade cryptocurrencies hassle-free:

Multi-signature HSM wallets

To protect moving cryptocurrencies, a multi-signature HSM wallet is used. It can cover daily withdrawals because there is always enough for that. Moreover, this amount represents only a small part of the total financial assets of the company.

FDIC insurance

Bank accounts held by the company contain fiat money. As a result, US users of Crypto.com are protected by FDIC insurance and serviced by US banks.

Encryption and 2-Factor authentication

App and website are encrypted and also use Amazon web services. As additional security measures, Crypto.com has real-time threat detection, a firewall, and other similar features.

Since the security of your personal information and funds is of paramount importance, Crypto.com also offers 2-factor authentication, adding an extra layer of security.

Why you should consider crypto.com?

Anyone who wants to spend, trade, store and save crypto, especially Crypto.com’s utility token, Cronos. This all-inclusive exchange allows you to buy, sell and trade multiple cryptocurrencies at affordable rates.

A long list of supported cryptocurrencies:

Supports over 250 currencies with spot, futures, and advanced order types.

Transparent and competitive fees with available discounts

Crypto.com offers competitive transaction fees of up to 0.40%, with discounts.

Cryptocurrency Products Ecosystem Support

Crypto.com supports cryptocurrency trading, staking, and exchange. It also offers its own credit card, crypto wallet and allows users to invest in NFT.

Withdrawing from Crypto.com

If you have traded on Crypto.com, you may want to transfer crypto at some point. Now we will explore the Crypto.com withdrawal process in detail. Read on to learn more!

Withdrawing cash from Crypto.com may be completed in a chain of steps. Here is what you’re ought to do in case you need your cash transferred:

1. Open the crypto.com website.
2. Link the desired bank account in case you haven’t already. However, in case you have already got a connected bank, click on transfer. This may be observed below the crypto account balance.
3. At the lowest of your display, you’ll see a pop-up that offers you the options, respectively “deposit” and “withdraw”.
4. Select “Withdraw”.
5. There might be options on your display: “Crypto” and “Fiat”.
6. Pick the “Fiat” choice that has the description “Withdraw Fiat for your bank account”.
7. Select the preferred currency.
8. When you’re completed choosing the preferred currency, you could fill in the quantity of cash you desire to withdraw.
9. After you input the quantity you need to withdraw, you could select “Withdraw”.
10. Now, you’ll get an affirmation display after you click on the “Withdraw” button, wherein you could see the quantity withdrawn. It additionally indicates the feasible fees, in addition to the processing time, recipient, and the full quantity you ended up withdrawing.
11. There are a few regulations in relation to how much you could withdraw each month. Every month, you could withdraw about $50,000. You additionally can’t withdraw much less than $100. In case you attempt to do so, they may notify you.

Concluding

Crypto.com is a beginner-friendly cryptocurrency trading platform that makes it easy to buy, trade, and spend cryptocurrency. In addition, anyone can use its other crypto services like Crypto.com Exchange, Crypto.com DeFi Swap and Wallet, Crypto Earn, and Pay, making it a great general store for all things crypto.