Crypto.com: What You Need to Know About the Crypto Exchange and Wallet (Pexels) — (Pexels)

Crypto.com Exchange and Wallet: What You Need to Know

The Singapore-based platform specializes in providing users incentives.

By Mike Antolin

Updated Aug 10, 2022 at 2:41 p.m. UTC

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Mike Antolin

Mike Antolin was CoinDesk's SEO Content Writer for Learn.

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Crypto.com, a cryptocurrency exchange that allows you to buy, sell and trade a variety of digital assets in the palm of your hands, also provides a crypto wallet that enables you to securely store your cryptos and NFTs.

One of the most popular international exchanges in the world, Crypto.com has 10 million customers in some 200 countries.

What unique features does Crypto.com offer?

You may have first heard of Crypto.com because of its much-mocked Matt Damon Superbowl ad or when it bought naming rights to the former Staples center in L.A., but you might not know how the platform distinguishes itself with special features:

It provides a two-in-one app, an exchange and a wallet, allowing users to buy, sell, trade and store digital assets on the go.
Some of its security features include multi-factor authentication (MFA) and whitelisting.
Crypto.com offers a Visa debit card that allows you to withdraw or spend cryptocurrencies anywhere that accepts Visa.
Its Earn feature lets you get interest on your deposited cryptocurrencies.
The Credit feature allows you to take out a loan using your cryptocurrency as collateral (although not in the U.S. yet).
Crypto.com offers competitive fees and a wide range of available assets, including 250 cryptocurrencies and access to its futures.
It has a native cryptocurrency, Cronos (CRO), which enables users to obtain rewards and get access to its financial services such as cashback Visa cards and potential free subscriptions to Netflix and Spotify.

What is Cronos?

Cronos (CRO), launched in December 2018, is the official token standard of Crypto.com’s Cronos Chain. The Cronos Chain is a decentralized and open-source blockchain designed for payment, trading and financial services. As an open-source blockchain, it allows other companies and developers to innovate solutions such as decentralized applications (dapps). By implementing an open-source business model, it ensures safety, security and transparency of transactions within its blockchain.

CRO plays an integral role in the Crypto.com ecosystem as it is used for its Crypto.com Pay mobile app and Visa card rewards program.

Read more: What Is Blockchain Technology?

Getting started with Crypto.com

Creating an account on Crypto.com only requires a few minutes – and then you can start buying and selling cryptocurrencies.

Step #1: Go to the website and click on the Sign Up button.

Step #2: Enter your email address and create a strong password. Then, click on the Create Account button.

Step #3: Verify your email address by clicking on the link in the verification email you'll receive.

Step #4: Just confirm your email address and you have successfully created an account on Crypto.com.

Buying your first cryptocurrency

Once you have an account, you're ready to start buying cryptocurrencies using a credit card or debit card. Optionally, you can fund your fiat wallet by connecting it to your bank account (with U.S. dollars). For those who already have a wallet, there are options to connect it to Crypto.com as well.

Step #1: Log into your account and click on the Buy/Sell tab.

Step #2: Select the cryptocurrency you want to buy and enter the amount.

Step #3: Review and confirm the transaction details and click on the Confirm to Buy button.

Step #4: Upon confirming, you should now have purchased your first cryptocurrency on Crypto.com.

This article was originally published on Aug 8, 2022 at 8:03 p.m. UTC

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