What is Crypto.com App?

What is Crypto.com App?
The article discusses Crypto.com App’s origin, basics, key features, and popularity song its 1 million users worldwide.

Crypto.com was merged into Monaco Technologies by Kris Marszalek and rebranded in 2018 with the motto “Spend anywhere, without fees,” It was then that Monaco released its own token MCO, which was funded by an ICO (Initial Coin Offering) between May 18 and June 18. A total of 12,135,542 MCO tokens were sold to raise USD 26.7 million worth of crypto assets. 

Soon after, when Crypto.com initiated its Visa Card, Crypto.com, Crypto Earn, Crypto Credit, among other services, the need was felt to make it more accessible to users resulting in a Crypto.com App. In late 2019, as Crypto.com’s offerings grew to form its own crypto-to-crypto exchange and its user base grew to 10 million globally, the Crypto.com App started becoming more popular among users. Although the company has headquarters in Hong Kong, Crypto.com App is available to users with various features in Australia, Argentina, Bulgaria, China, Japan, Malta, Singapore, United Kingdom, India and Russia.

Crypto.com App Basics

Crypto.com App is a fully regulated organization that complies with all essential financial and risk-prevention regulations. One cannot use the App anonymously as it verifies identity, location, and other details for registering. Upon registration, a user is asked to verify their identity by providing the following:

  • Full name
  • Photo proof through a government-issued ID
  • Selfie as proof of a living identity

For obtaining a Crypto.com Visa Card, an individual needs to provide a residential address and a recent utility bill. Account verification in the app takes a full three days.

Crypto.com App Features

Crypto.com App is the easiest way to purchase, sell, receive, exchange, send and make payments with Crypto. The App boasts of a variety of features, including letting the users deposit cryptocurrency absolutely free of charge, allowing crypto to crypto exchanges free of cost, and enabling free transfers to DeFi Wallet and Crypto.com Exchange.

The Crypto.com App also allows users to buy cryptocurrency directly from the credit or debit card, where users have to pay a maximum of 3.5 per cent as card fees, depending on the transaction location’s jurisdiction. The App, however, charges a fee for withdrawal from the crypto wallet if the withdrawal address differs from the external address. Users can conveniently select the transaction speed if they want an average, fast or super fast rate where a super-fast transaction reflects high fees and average transaction costs low fees.

Here are some key features of the Crypto.com App:

  • Allows users to buy over 100 cryptocurrencies at their true cost
  • Beginner-friendly interface
  • Selling and buying options for cryptocurrency
  • Option for exchange fiat currencies
  • Users can earn up to a 5 per cent back on all transactions
  • Users generate 8% per annum on crypto deposits
  • Lets users manage their Crypto.com Visa Card, Crypto Credit, Crypto Earn all through one mobile App
  • Helps track user portfolio
  • Enables users to send and withdraw from external wallets
  • High profile security with “Defense in Depth” security practice

Crypto.com reported in 2019 that its App crossed 1 million downloads. With App availability in both iOS and Android, the App is set to register more users as Crypto wallets are projected to grow globally in 2021. 

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