Crypto.com offers almost every product possible within the cryptocurrency space including an exchange, app, cards, earn, credit, invest, pay, buy NFTs, a separate wallet as well as new DeFi features for adding liquidity, swapping, and staking. Plus they even have their own crypto.com (CRO) tokens too. With a lot of products under its wing, this Crypto.com review includes information on each service.
Who are Crypto.com?
Crypto.com, with headquarters in Hong Kong were previously known as Monaco. The platform was launched in June 2016 and renamed to crypto.com in July 2018. The company now has 3 million users worldwide. With users being able to trade on their Exchange, earn interest on crypto deposits, use their reward-driven Visa cards and even have access to DeFi features.
Crypto.com CRO Tokens
The Crypto.com native utility token (CRO) is an Ethereum based ERC20 token, now available on 22 exchanges worldwide. CRO provides their users with discounted fees, higher earnings, priority token allocations and more on the Crypto.com Exchange and App Payment. Holders of the coin can gain access to exclusive benefits of the MCO Visa Card and mobile crypto payment and participate in the Crypto.com Chain network to receive rewards.
The Crypto.com app allows you to buy with 7 FIAT currencies by bank transfer and debit or credit card and 53 cryptocurrencies. there’s 0% fees for deposits, crypto to crypto exchanges and transfers to their own wallet. The App is an all in one custodial wallet, investment, and that encompasses a range of products that promote the adoption of digital coins on a wide scale. You can apply for the MCO Visa Card in a matter of minutes from right within the app too.
The crypto.com wallet allows users to securely send and track their crypto. It supports and allows you to manage your BTC, ETH, CRO, MCO, LTC, XRP, XLM and other erc20 tokens in the wallet too. With full control over your crypto, your private keys are encrypted locally on your device. And you can easily import your existing wallet with a 12/18 or 34-word recovery phrase to the crypto.com wallet.
Crypto.com DeFi Swap
Defi Swap is a new DeFi protocol by Crypto.com, allowing users to swap and farm DeFi coins at the best available rates whilst offering an attractive incentive program for CRO token holders. Crypto.com who are famous for their one-stop-shop crypto app is the next crypto company to release a DeFi service for their users.
Launched on the Ethereum main net, the service allows users to swap and farm DeFi tokens as well as provide liquidity and earn “Triple Yield.” Which includes Swap Fee Sharing, CRO Defi Yield, and a Bonus Yield which is coming soon.
Also at the time of this writing, Crypto.com are guaranteeing a minimum reward pool of 14,000,000 CRO for the first 14 days (1,000,000 CRO per day).
You’ll find the interface is very similar to UniSwap and this is because Defi Swap is a fork of UniSwap V2. However, where Defi Swap differentiates itself is where users can stake CRO and get great rewards.
Crypto.com´s Supercharger is a simple, flexible and secure liquidity mining platform for the most popular cryptocurrency projects. Crypto.com Exchange and App users can deposit CRO and earn rewards in return. Their first project was with Uniswap UNI with a 500,000 USD allocation and they have since launched Polkadot (DOT) and Bitcoin (BTC) events. To find out more about Supercharger and to get started farming coins, check out my blog.
Crypto.com & PayID
Crypto.com has now integrated PayID, meaning that their users can now send and receive crypto across any network using PayID which currently connects 120Million consumers worldwide. PayID is a payment identifier protocol developed by Ripple and provides a single ID for anyone needing to send or receive money.
So instead of entering complicated alphanumerical wallets addresses and accounts, you can now enter a simple ID that’s personal and related to you and this can certainly help with preventing any errors when sending funds.
When you register for a unique Pay ID with Crypto.com you get an exclusive Crypto.com branded username, so you’ll just have just a single ID for sending and receiving crypto payments.