Crypto investors around the world have flocked to Crypto.com to buy assets. Not only is it one of the top 20 largest exchanges in the world, but Crypto.com has gone mainstream by buying the naming rights to the Lakers’ Staples Center and investing $100 million into a marketing campaign featuring Matt Damon.
In this 2022 Crypto.com review, we cover in detail what investors and traders need to know about the Crypto.com platform – its fees, features, mobile app and which cryptos are listed to buy and sell. Crypto.com Review: Pros & Cons
During our Crypto.com review, we found several ways investors benefit from this exchange and some of the things it could improve:
Pros
Cryptoassets are a highly volatile unregulated investment product. Tradable Cryptos on Crypto.com
Investors can buy Bitcoin on Crypto.com and 250+ other cryptocurrencies. But the platform is expanding, and management’s intentions are to add several marketplaces to the exchange. Cryptocurrencies
Traders can use Crypto.com to buy, sell, store, send and track those 250 cryptocurrencies – many can also be traded with leverage on perpetual futures pairs. Besides the major coins, such as BTC, ETH and ADA Crypto.com offers an impressive range of altcoins such as Algorand, Polkadot and Uniswap.
The Crypto.com exchange is constantly adding new coins, so if investors don’t see the one they want there’s a chance it could be added in the near future.
Trading on Crypto.com means that investors also have access to meme coins like Dogecoin, Shiba Inu and also DeFi coins like Fantom. Investors who feel that day-trading cryptos is risky due to the volatility can opt for a safer option to earn interest on cryptocurrencies by staking them.
Crypto.com enables investors to stake coins, requiring them to lock in coins on the exchange to earn interest. The platform has provided 40 cryptocurrencies and stablecoins that investors can stake. Each coin provides a predetermined annual interest. As an example, staking Bitcoin for a year will earn investors 6% interest. Investors who stake stablecoins can earn up to 10% per annum. Some of the best staking coins provide up to 14.5%. Choosing to stake the platform’s native token, CRO, will yield only 4% interest annually.
This platform offers various lock-in periods, 1 month or 3 months. Investors can opt for the flexi period, enabling them to choose the period to keep their coins locked. Crypto.com offers one of the best crypto staking platforms.
Investors can use 20 fiat currencies to trade the cryptos offered on the Crypto.com platform.
Cryptoassets are a highly volatile unregulated investment product. Non-fungible Token (NFTs)
NFTs are a growing phenomenon, and their market valuation was estimated to be $47 billion in 2021. Some analysts predict that it could be worth $147 billion by 2026. First introduced in 2012 as an issuance for Bitcoin because Ethereum hadn’t yet been created, NFTs are a financial security consisting of digital data stored on the blockchain.
It’s regarded as a distribution ledger, and NFT ownership is recorded on the blockchain. Owners can sell, transfer and trade NFTs . Crypto.com wanted to get in on the action, so it offered an NFT marketplace. Investors can buy, sell and showcase NFTs.
Crypto.com offers a top collection of NFTs, featuring Ugonzo Art, DaRealGenius and some of the more affordable ones such as Loaded Lions and Snailmates. The Crypto.com NFT platform is constantly adding new types of non-fungible tokens.
Cryptoassets are a highly volatile unregulated investment product. GameFi
GameFi is a combination of video games and blockchain technology. These blockchain games offer economic incentives such as in-game rewards for completing tasks and progressing in the game. They’re known as play-to-earn games and users can receive the platform’s native token.
Investors have access to popular platforms such as The Sandbox, Axie Infinity and Legends Reborn on Crypto.com. See our full list of gaming crypto coins . Cryptoassets are a highly volatile unregulated investment product. Yield Farming Although still in its beta stage on Crypto.com, yield farming is a way for investors to earn a passive income by contributing to liquidity pools. Investors receive rewards such as coins for locking up their cryptocurrencies. It differs from staking coins.Yield farming provides liquidity to DeFi protocol to receive a yield, but staking coins involves locking coins on an exchange to make the network more resilient and validate transactions. Staking is more suitable for beginners because it is less risky. Yield farming provides short-term returns, whereas investors stake coins usually to earn interest long-term. Cryptoassets are a highly volatile unregulated investment product. Crypto.com Fees & […]
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