Why does the crypto community accuse Crypto․com of deception and manipulation?

The Crypto.com exchange was created in 2022 on the Monaco cryptocurrency platform. Since 2016, the predecessor has provided its clients with the opportunity to purchase, send, 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.

Crypto.com is headquartered in Hong Kong. As its founder Chris Marszalek said back in 2019, to compete successfully the company must provide a full range of services in the cryptocurrency market. The main goal of the company was to popularize and promote digital money. With the help of Crypto.com services, it becomes possible to use cryptocurrency in your everyday life.

Сrypto.com was opened in June 2016 in Hong Kong. The founders were 4 people. Rafael Melo is a CFO and previously worked for one of Mastercard's subsidiaries. He holds an MBA from the University of North Carolina at Chapel Hill and a BS in Engineering from the Federal University of Minas Gerais, Brazil.

Bubby Bao is the head of the corporate development department, an experienced banker with extensive experience in the investment and corporate sphere. Before opening Crypto.com, he worked in the mergers and acquisitions department of a large Chinese bank. He received his education in several places at once: at the University of Melbourne, the Stern School of Business at New York University and the College of William and Mary.

Gary Ohr is a designer, developer and entrepreneur who has a keen interest in the development of artificial intelligence. He received his bachelor's degree in engineering and computer science from Hong Kong. Before joining Crypto.com, he co-founded a mobile application development firm.

Chris Marshalek holds the position of CEO and leads long-term strategy, development of the company and the consumer brand as a whole. Before starting work on Crypto.com, he already headed 3 companies: a manufacturer of household appliances, a mobile application for location determination, and the BEECRAZY company.

Are there regulations and checks?

Crypto.com is the first cryptocurrency company to achieve ISO/IEC 27701:2019 certification, which is comparable to gold certification. This fact alone indicates that the exchange has good protection. The issuance of a certificate is carried out only after a thorough audit by third parties, in this case the audit was carried out by SGS, one of the leaders in the market.

The company complies with the third level of the CCSS standard. Additionally, Crypto.com ensures the security of its customers by using the following protection methods:

• cold storage facilities are used to store funds, an insurance fund is organized;
• all reserves in hot wallets belong to the company and are necessary to ensure the smooth operation of the network;
• each transaction is verified to determine whether the site is being used for money laundering;
• 2FA – two-factor authentication via biometrics or the Google Authenticator application; to fully use the exchange, you should add all addresses to which funds are sent to the white list;
• The exchange insured its assets for up to $360 million.

How to register with bonuses

If Cyrpto.com Exchange opened in English, then to translate the page into Russian you will need to click on the word English in the upper right corner of the screen and select “Russian” from the list.

Despite the fact that the site supports the Russian language, the registration form is still only available in English. If you encounter problems with the translation, you can download the official Cyrpto.com application from the Play Market, where the account creation form is completely translated.

Like all major platforms, Crypto.com runs a “Refer a Friend” program to stimulate the flow of new customers. To receive bonuses, ask your friend registered on the exchange for a special referral link. If you don’t have these, you can use our https://crypto.com/invite_friend/ or simply enter the promotional code “zmn6e5mu8y” in the “Referral Code” field. Next, you need to complete the following steps to register.

1. At the top of any project page, find the “Register” button.
2. Fill out the form, where First name is the name; Last name – surname; Date of birth – date of birth; Nationality - citizenship; Email – email; Password – password; Password confirmation—password confirmation.
3. Agree to the terms of use of the exchange and the processing of personal data.
4. Complete the robot test task.
5. Click the Create account button.
6. Enter the email verification code sent in the letter from Crypto.com.
7. Enter your phone number.
8. Enter the code from the received SMS.
9. The system will thank the user for completing the registration, but to unlock the platform, additional identity verification will be required. The form will open after clicking the Continue button.
10. Indicate your first name (First Name), middle name (Middle Name) and last name (Last Name).
11. Provide documents. This could be a passport, driver's license or ID used in some countries. You need to select the type of document being transferred and upload a photo of it.
12. Take a selfie with a document whose data was transferred to the exchange. This is necessary to confirm that the registration was carried out by the owner of the passport and not a stranger.

After this, you can fully use the exchange. Until verification is completed, access to all features of the site is blocked; the user will not even be able to log into his personal account.

Through exchangers

I won’t give you links to reliable exchangers; I’d rather give you a link to an aggregator of all the best exchangers at once - Bestchange. Seriously, the service is awesome, I’ve been using it for five years now.

In the left column you select what you want to exchange, in the right column - what you want to exchange for.

For example, let's take the exchange of Tether ERC20 (USDT) to Visa/MasterCard (RUB). You can immediately select your bank. Tinkoff is there, Sber, Alfa... They are all on the list.

Direct links to exchange USDT and different banks:

• Tether ERC20 (USDT) -> any card
• Tether ERC20 (USDT) -> Sberbank
• Tether ERC20 (USDT) -> Tinkoff
• Tether ERC20 (USDT) -> Alpha

In the central part you see the name of the exchanger, the rate with the minimum amount for exchange, reserve, reviews.

By default, exchangers are sorted by the profitability of the exchange rate, so do not change the sorting. You don’t have to read the reviews; if some exchanger is weird, they will simply be excluded from the service. The courses are always fresh, updated every 10 seconds, no need to reload the page.

I don’t recommend sitting and choosing an exchanger for a long time. They are all the same plus/minus. Just focus on the minimum amount for exchange, and choose what is higher in the list.

When you click on the exchanger, you will immediately go to its official website. And what’s inconvenient is that with most exchangers you will have to re-select the direction of exchange, although you just did this on BestChange.

Well, what can you do, choose and fill out the transfer form. Card details, amount, full name, email. Then follow the instructions and wait for the transaction to complete.

Bestchange itself does not charge any commission, but exchangers may charge additional fees beyond what is included in the course. Read all notes and footnotes carefully!

How to make money

Instructions for making a deposit from the system itself and from an external storage are different. To deposit funds from the Crypto.com App to the exchange, you need the following.

1. Open wallet.
2. On the main page, click on the Transfer button, go to Withdraw and select the currency type: Crypto (crypto) or Fiat (fiat).
3. Specify the withdrawal path for Crypto.com Exchange funds.

All that remains is to select the type of currency being sent and confirm the sending. There are no fees for intra-system transfers.

To deposit funds from an external wallet to the exchange, you need the following.

1. Log in to your Crypto.com Exchange account.
2. Verify your account on the exchange.
3. Go to the “Wallet” section.
4. Select the type of cryptocurrency to be entered into the system and click “Transfer”.
5. The user will be provided with the address and QR code used for the deposit. The data is entered on the wallet deposit page where the funds will come from.
6. Please note that it may not be your personal address that is generated for you, but that of the exchange. To ensure funds are credited to your account, copy the Memo and paste it into the notes for the payment you are sending.
7. Carry out the required number of confirmations (from 1 to 30).

It is important to remember that you only need to deposit the coin for which the selected wallet is provided. If you send the wrong cryptocurrency, it will be lost, and it will be impossible to issue a refund.

Enter the amount of cryptocurrency to sell.

Once you click "Sell", you will be taken to the selling page.

The sale page contains 3 tabs including “Crypto Wallet”, “Card Wallet” and “Fiat Wallet”.

First of all, click on “Fiat Wallet” to start selling cryptocurrency for fiat currency.

Second, enter the amount of cryptocurrency (such as Bitcoin) you want to sell.

Above the digital panel you will see your available cryptocurrency balance.

If you want to sell it all, you can click on "Max".

Third, choose the fiat currency you want to receive.

For example, if you live in the UK, select "GBP".

Finally, click the “Sell” button to sell the cryptocurrency for the fiat currency of your choice.

How to withdraw money from Crypto.com

You can also withdraw funds to the application wallet or external storage.

But the initial instructions for both cases will be identical:

1. Go to the main page of the exchange.
2. Find the section in the upper right corner “Wallets”.
3. Specify the cryptocurrency that will be sent to the Crypto.com App wallet.
4. Select one of the output methods: to external storage or to an application.

To withdraw money to your Crypto.com App wallet, you must:

1. Choose the Crypto.com App method.
2. Specify the amount to be transferred.
3. Select Review Withdrawal.
4. Check transaction details.
5. Confirm the withdrawal with the Confirm Withdrawal button.

The money will be credited to your account instantly. There are no fees for intra-system transfers.

To withdraw money to an external wallet, you must enable two-factor authentication. Next, go to “Wallet” and complete the following steps.

1. Add a wallet for the currency that will be withdrawn.
2. Provide additional information about the recipient.
3. Enter the Google Verification code.
4. Save the address using the Save Address button.
5. Select a wallet for withdrawal and indicate the transaction amount.
6. Click on Review Withdrawal.
7. Check transaction details.

Withdrawals may take several hours. Fiat transactions are not available.

How will the exchange of MCO tokens for CRO take place?

Starting August 3, users can exchange MCO for CRO in the Crypto.com app interface - this cannot be done anywhere else. The exchange conditions are as follows:

If the user holds MCOs on an external exchange or Crypto.com exchange, they must be transferred to the application before exchanging.

All fees for such transactions are borne by the user.

If the user does not have an account in the application, one must be created by passing the mandatory KYC verification. It is assumed that such measures should protect coin holders from scammers, and at the same time ensure an influx of new customers.

The exchange must be done manually - it will not happen automatically.

Replacement of tokens is irreversible.

More detailed instructions on how to transfer tokens and under what conditions the swap will take place are described in a separate guide.

The swap must be done manually before November 2 of this year. After this date, MCO will continue to exist on Ethereum as an ERC20 token, but it will not be supported by Crypto.com or have any functionality on the platform.

Holders who have locked their tokens in deposits will not lose them - the frozen coins will also be converted into CRO according to the stated interest rates.

How to trade

Trading is the main direction of the platform, thanks to which Crypto.com was able to expand. To trade on the stock exchange, you need to go to the “Markets” section, select the pair you are interested in from the list and click “Trading”.

The user is taken to a classic trading page, where a price movement chart is located in the middle.

Below the chart is a list of open orders and the user’s transaction history. On the right side is the order book and trading history. The list of applications is divided into two groups, separated by a prominent number, which displays the current value of the cryptocurrency. Data is updated in real time.

Below the order book and trading history there is a form for creating orders. The system provides the ability to place 4 types of orders:

1. Limit is a standard order formed to buy or sell a token. The order will be triggered if the value of the coin is no more or less than the specified price.
2. Market – instant purchase or sale of cryptocurrency at the best market price.
3. Stop limit is an order to buy or sell a token with restrictions that are triggered when the transaction value reaches a set value.
4. Stop loss is an order that will be triggered until the specified value of the coin is reached or the volume of purchases has been completed.

The system also provides the opportunity to trade borrowed funds with a leverage of x3. In this mode, the operating principle of all types of orders does not change.

How to use cryptoloan

A crypto loan is a fantastic alternative to a line of credit. Only much safer and easier.

Crypto Credit allows you to get a loan paid in TUSD or PAX. In this case, you use each of these cryptocurrencies as collateral. The loan is then immediately available in your Crypto.com wallet. The loan can then be repaid with the same stablecoin in which the deposit was made.

Users determine their own repayment terms over a 12-month period. There is no fixed repayment schedule and no monthly late fees. Users can repay any amount at any time within 12 months from the start of the loan.

The status of the collateral indicates whether it is at risk of foreclosure based on your current loan-to-value (LTV) ratio.

If your collateral reaches the low/critical threshold, a margin call will be initiated. This will notify you to rebalance the loan by posting additional collateral or making a repayment. When LTV exceeds the 80% threshold, 100% of your collateral will be liquidated.

Crypto Credit receives 8% per annum with a rate of at least 5,000 CRO and 12% per annum without a CRO rate.

How to get a loan for cryptocurrency

crypto earn

1. Open the Crypto com app and select "Crypto Credit".
2. Review the details and select "Deposit Now".
3. Select the cryptocurrency you want to hold as collateral (BTC, CRO, XRP, ETH, LTC, EOS, XLM).
4. Select the type (TUSD, PAX, USDC or USDT) and the amount of the collateral cryptocurrency. You will then see the amount you will receive in credit.
5. Accept the Terms of Use.
6. Confirm the transaction.
7. You deposit your cryptocurrency and receive instant credit.

Crypto loan repayment

1. On the Crypto Credit home page, select "Pay Balance".
2. Select the payment amount or choose to pay the full amount (“Pay Full Amount”).
3. Confirm your payment.
4. The selected amount has been paid.

Verified users of the Crypto.com app, excluding citizens and residents of Hong Kong SAR, Singapore, Switzerland, Malta or the United States of America, can use Crypto Credit. Efforts are currently underway to make these products available in these jurisdictions as well.

Get up to $50 bonus! Register on the website using the link or enter a promotional code when registering in the application: jpq5zwwyqb

Futures on Crypto.com

The platform provides the opportunity to trade futures. To do this, you need to open the “Markets” page (crypto.com/exchange/) and select the “Futures” section.

There are two futures available on Crypto.com in the BTC-USD pair, but for different periods: 80 and 178 days. The system allows you to use borrowed funds to purchase assets.

general information

What currencies can you stake?

The platform allows you to stake several types of coins, including CRO, a local token used to maintain the health of the network. The amount of earnings on the deposit is 14% per annum on stablecoins, and on standard cryptocurrency – up to 8.5%. The minimum you can invest is 5,000 CRO for a period of 180 days. Steak also provides other benefits:

• obtaining the opportunity to reserve one of the metal 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;
• rewards.

Users can invest not only CRO coins, but also ETH, BTC, USDT, DAI, USDC, etc. The full list of accepted assets is available at crypto.com/earn.

Clients also have the opportunity to use soft staking, which means an alternative way to earn money. To receive dividends, it is enough to have funds in the exchange wallet. Wallets for the application and the exchange are different; for soft staking, you must use the desktop version of the site.

The soft version of earnings allows you to get rid of periods of mandatory retention and interacts with all active asset holders. To use soft staking, you will need to have a Starter or Advanced access level.

To enable the soft accumulation function, you must:

1. Open an exchange account.
2. Go to the Stake & Earn page and select the Staking section on the left side of the page.
3. Set the Keep the minimal holdings and receive switch to active mode.
4. Agree to the terms of service.

Now the capital will increase passively. You can disable the function in the same section of the menu by turning the switch to the off state.

The percentage of earnings from soft staking will depend on the balance in coins and the type of cryptocurrency chosen. For example, the accrual of interest on a BTC deposit will begin if there is a minimum of 0.25 BTC. With a stake of less than 100,000 CRO, the APR will be 0.25%, and with more than 100,000 CRO, the percentage will increase to 0.75%.

There are a total of 167 cryptocurrency pairs available on the site, none of which are unique. The maximum capitalization of BTC/USDT is 55 million USD.

Is the exchange rate favorable?

The exchange takes place at a weighted average price expressed in US dollars: 1 MCO = 27.6439 CRO. Users who complete the exchange before September 2 will receive a 20% bonus as a reward for an early swap - the rate for them is: 1 MCO = 33.17236 CRO.

Whether a user benefits from a swap or not depends on several factors. First of all, on the price at which MCOs were purchased and for which CROs can be sold. For example, on the day the article was published:

1 MCO costs $5.38,

33.17 CRO (at the exchange rate until September 2) costs $5.43,

27.64 CRO (at the exchange rate after September 2) costs $4.52.

Thus, the cheaper the MCO and the more expensive the CRO, the more profitable the exchange.

The news about the 20% bonus drove up the cost of the MCO, thereby neutralizing the benefit. Since May, the price of the token has been falling - from $5.5–$5.8 to $4.1. In July, the asset even dropped below $4 - we think it was all due to the fraud scandal of the management of the German fintech giant Wirecard, which issued the MCO Visa card. But after the news about the swap, the coin rose in price by 37% in one day - from $4 to $5.50.

The market reaction is understandable. On August 3, the token exchange rate was beneficial to users:

1 MCO cost $4.1,

33.1726 CRO cost $5.5,

27.6439 CRO cost $4.58.

Possible profit is 10% at the standard rate, plus 34% with a bonus for a quick swap. Investors began to buy MCO en masse, thereby reducing the profitability of the swap. The price of MCO went up, and the cost of CRO, remarkably, went down.

Сrypto.com Wallet

When registering on the exchange, the client automatically gains access to a DeFi wallet from Crypto.com, which is used to store assets. The technology itself allows you to create an environment where only the account owner has access to funds and private keys. To expand the capabilities of Crypto.com Wallet, it is necessary to connect DeFi Swap, then the user will be able to exchange tokens from the wallet.

You can download the application to your phone from the App Store and Play Market. The software does not require additional payments. After opening, you will need to set a digital password for the application and write down a passphrase consisting of 12 words. It must be written down on a piece of paper, because... it gives full access to the account, but if you forget the phrase or reinstall the application, you will not be able to restore your account. After verification, all wallet options will open.

To top up your account in Сrypto.com Wallet, you need to:

1. Open the application.
2. Click on the Receive button.
3. Select the type of coin that will be deposited into your account.
4. Scan the QR code that appears or copy the address provided in writing.
5. The received data must be entered into the wallet from where the account will be replenished.

It is important that transactions can only be carried out with coins that are intended for contract wallets. If you send DOGE to an ETH address, the funds will simply disappear.

To withdraw funds from Сrypto.com Wallet, you must:

1. Open the application.
2. Click on the Send button on the main screen.
3. Select the coin that will be sent.
4. Specify the amount of funds to be sent and insert the address or scan the QR code.
5. Confirm the transaction.

How to withdraw money from Payeer to a bank card?

Funds are withdrawn from Payeer quickly. You just need to log in to the system, after which you need to select on the panel - MyPayeer and then the option - Withdraw funds. To transfer money to any card in the world, including a Sberbank card, you must enter the amount and plastic details.

Interesting materials:

What does Uoni 13 55 mean? What does Non-zeroable receipt amount mean on a check? What does the expression where they came from mean? What does debt assigned to Snils mean? What does it mean to tighten the nuts? What does the Button icon mean in WhatsApp? What does the inclusion sign mean? What does the umbrella on the refrigerator mean? What does eye contact mean? What do the numbers on a fire extinguisher mean?

CRO token

CRO is a platform token created at the end of 2022, built on the ERC-20 standard. The maximum supply is 30 billion tokens, of which 25.26 billion coins have been mined. The current market capitalization is $3 billion. The CRO rate and price for today, as well as the history of quotes, can be tracked on the chart below on various timeframes.

CROs are allocated to perform five functions:

1. Secondary distribution and launch of incentives to create activity – 30%.
2. Frozen capital reserve – 20%.
3. Network long-term incentives – 20%.
4. Ecosystem grants – 20%.
5. 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 a soft version of investments. Having Crypto.com tokens on your balance allows you to use some unique features that are not available to other clients. Also, the CRO coin is required to make transactions through the mobile application.

The company is constantly working to find and develop new uses for the token. A CRO should allow you to gain greater control over your assets and personal data.

Why do you need a swap?

Crypto.com is a Hong Kong blockchain platform that issues crypto cards with Visa support. It combines an exchange, a wallet, a credit protocol, as well as a cryptobank with the opportunity to earn money from storing coins from 4% to 18% per annum. The project was launched in 2016, until 2022 it was called Monaco.

MCO is the native token of the platform. It was created for an ICO that raised $26.7 million in 2022. It is used to conduct crypto card transactions and pay cashback on them. Crypto․com Coin (CRO) is a token of the Crypto․com Chain payment blockchain system, launched after rebranding from Monaco. It is used when exchanging assets from different blockchains, for example, BTC to ETH, as well as when paying for Crypto․com Chain transactions.

MCO is not the most sought after coin. Crypto․com practically does not develop it, so the market is not particularly interested in it. Over three years, the main MCO price corridor is $2–$6. It was clear to investors that the company had no plans to increase the functionality of the MCO, relying on Crypto․com Chain and its native token CRO.

CRO is one of the crypto rockets in the market this year. Since January, the coin has risen from $0.0337 to $0.1639, an increase of 480%. This is the best indicator among coins with a capitalization of over $1 billion. The CRO token has risen to 10th place in the CoinMarketCap rating in terms of capitalization, which today is $3.08 billion. The coin maintains positive dynamics, which it owes to marketing efforts, attracting venture capital funding and positive development news project.

Chart of CRO value since the beginning of 2022, according to CoinMarketCap.
Source. Crypto․com did not explain in detail why the swap is needed. The official statement only says that the token exchange will “combine the current functionality of MCO with the practical value and manufacturability of CRO.” CRO will become the main settlement facility on the Crypto․com Chain. The company assured users that the swap will not lead to a change in the functionality of its system, but, on the contrary, will add new capabilities to it - all MCO functions will transfer to CRO.

The swap should improve the project’s ecosystem before the launch of the main Crypto․com Chain network (remember that for now the network is only operating in a test version). Once the exchange is completed, the Crypto.com ecosystem will only use one optimized CRO token with combined functionality, rather than two separate tokens as it currently exists. After the swap, MCO holders will become part of the larger ecosystem and owners of a more functional CRO token. Crypto.com itself will be able to focus on the development of only one coin. This solution seems beneficial and logical both for the company (it is always easier to ensure the value of one coin) and for new network users who will not have to deal with the complex concept of two native tokens.

It is also likely that Crypto.com sees increasing competition from Mastercard, Visa and other payment processors. They have become much more loyal to the crypto industry than before, announcing their intention to integrate crypto payments. This largely neutralizes the company’s advantages in the crypto card market.

Commission on Crypto.com

The commission on the exchange directly depends on the volume of available CRO tokens. In addition, storing the coin in a wallet from Crypto.com will allow you to receive additional income from soft staking.

Trading fees are shown in the table below.

Also, a discount may be applied to all commissions, depending on the amount of CRO in the stake:

• 0 CRO – 0%;
• from 5,000 CRO – 10%;
• from 10,000 CRO – 20%;
• from 50,000 CRO – 40%;
• from 100,000 CRO – 60%;
• from 500,000 CRO – 70%;
• from 1,000,000 CRO – 80%;
• from 5,000,000 CRO – 90%;
• from 50,000,000 CRO – 100%.

Place of the Crypto.com Exchange in the ranking of crypto exchanges in the world

The Crypto.com Exchange ranks 10th in the popularity ranking for queries in the Yandex search engine. The number of requests is 16282 per month.

The daily trading volume of the Crypto.com Exchange is $230 million (06/21/2021).

Number of weekly visits to the Crypto.com Exchange – 1 341 019.

Statistics of the Crypto.com Exchange.

Comparison with competitors

All exchanges are usually compared with market leaders: Binance, Huobi and Bitfinex. Binance has more than 1000 currency pairs, being the leader in this parameter. Additionally, the platform is distinguished by the trust of clients who, since 2022, have chosen Binance for cryptocurrency trading. But due to their status, they introduce some features with a delay, which prevents users from using new tools that are constantly emerging in the cryptosphere.

Huobi is a service with a lot of features. It is in terms of the number of tools that it is ahead of all the described competitors. Additionally, it provides the opportunity to trade with fiat. But the lack of futures and the translation of some sections exclusively into Chinese are major disadvantages. Crypto.com is fully translated into English, and most sections, including the FAQ, are also available in Russian.

Bitfinex clearly lags behind its competitors in terms of the number of currency pairs. A negative feature is the need to make a first deposit of at least 10,000 USD. This limitation repels a large number of not only novice traders. After all, you can trade on Crypto.com immediately after verifying your account after depositing much smaller amounts.

Choosing a broker for trading cryptocurrencies

The cryptocurrency market has gained particular popularity for its high volatility, which opens up prospects for quick big earnings (see whether Masterforex-V Academy traders can earn 2000% per month), but also carries risks of quickly losing your deposit.

Correct trading is meaningful trading (see successful trading systems for making a profit on cryptocurrencies and win-win accounts of Masterforex-V traders and their strategies).

When choosing exchange trading, cooperate with reliable partners. The major league rating of Forex brokerage companies from the Masterforex-V Academy is the 12 most reliable Forex brokers for safe trading.

Sincerely, wiki Masterforex-V - free (school) and professional Masterforex-V training courses for working on Forex, stock, futures, commodity and cryptocurrency exchanges.

Advantages and disadvantages

Advantages of Crypto.com:

• a full-fledged crypto platform with mobile applications, and not just an exchange;
• promotions and benefits for valuable clients;
• the possibility of receiving passive income from storing funds;
• low commissions;
• Possibility of obtaining a physical card.

Disadvantages of Crypto.com:

• the need to store assets in a CRO to receive benefits, including a reduction in trading commissions;
• requirement to undergo full verification to gain access to a personal account on the exchange.

Exchange development plans

In March 2022, the company shared with users plans for further development of the site. There are 5 major releases in total:

1. Adding NFT support.
2. Issue your own coins based on Ethereum.
3. Automated market integration. Development of our own AMM protocol based on the Uniswap model.
4. A smart contract with CosmWasm, an engine that allows you to work with several programming languages, which is necessary for integrating applications and products on DeFi.
5. Creating a network connection with Chainlink oracles and others. Required to expand the capabilities of smart contracts.

Crypto.com is a sought-after trading tool that offers an advanced set of features. One of the unique opportunities is soft staking, which allows you to earn income from the mere presence of cryptocurrency. The only thing that can stop a client from using the exchange is the need to transfer assets to the local CRO coin to receive a number of privileges.