Is Crypto.com legit? How can you trade through this exchange? - Kalkine Media

June 28, 2021 11:27 AM EDT | By Anuj
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Crypto.com is one of the leading cryptocurrency services providers in the world. Widely accessible, it operates via two blockchain platforms, namely crypto.com chain and chain explorer.

Crypto.com is said to have over 10 million active users and more than 100 crypto tokens. The platform works on Ethereum-based blockchain and is powered by Ethash ‘proof of work’. 

The crypto website also recently unveiled its non-fungible token (NFT) launchpad.

Crypto.com launched its native token, Crypto.com coin (CRO), in late 2018, currently listed on the CoinMarketCap website. It is also available for trade on multiple crypto exchanges, including Huobi Global, OKEx, and Bittrex.

Kris Marszalek, Rafael Melo, Gary Or and Bobby Bao co-founded “Monaco Technologies GmbH” in 2016, which was later became Crypto.com. The platform claims to have a physical storage capacity or cold wallet insurance coverage of US$ 360 million against any theft or damage.  

How to trade through Crypto.com?

Crypto.com wallet applications are available on Apple’s iOS and Google Play stores. Investors can trade crypto coins such as Bitcoin, Ether, Doge and ADA through fiat money on the platform.   

The crypto exchange offers up to 14 per cent yield per annum on token holdings, along with instant loans. The Hong Kong-based crypto company also provides a Visa payment card with eight per cent cashback, which can be loaded with conventional money as well as cryptocurrencies. 

Crypto.com coin (CRO) and its operations

The crypto firm is operating in over 90 countries. It has more than 900 staff members and over 30 local communities, as per the data available on its website. 

Crypto.com coin (CRO) was trading at 0.1063 apiece on Monday, June 28. While it has a total supply of 100 billion coins, it is currently said to have 30.26 billion coins in circulation.

In the last 24 hours, CRO coins climbed over three per cent. 

In use cases, Crypto.com platforms enable investors to earn CRO tokens as rewards through staking. On top of this, CRO coin holders can claim up to 12 per cent interest on the Crypto.com Exchange app or its Visa card.

Source: Pixabay.com 

How secure is crypto.com?

The crypto platform has two-factor authentication decentralized finance (DeFi) wallet application to boost individual control over their crypto holdings. Hence, users can manage their token data and identities through blockchain-powered private keys. 

In case the user forgets the private key and has an existing wallet on Metamask, or ERC-20, they can recover or import using the recovery phrase.

Please note: The above constitutes a preliminary view and any interest in stocks and cryptocurrencies should be evaluated further from an investment point of view.


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