Crypto.com — A Comparison and Benefits of Using Crypto.com Cryptocurrency Exchange
Crypto.com is a Singapore-based cryptocurrency exchange platform. Currently, the exchange platform has ten million users and 3,000 workers. The exchange platform, formerly known as Monaco, was founded in 2016 by Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo.
After purchasing a domain owned by cryptography expert and professor Matt Blaze in 2018, the company was renamed Crypto.com that same year. Foris DAX Asia, a Singapore-based subsidiary of Foris DAX MT (Malta) Limited, is currently in charge of Crypto.com.
Crypto.com, along with the Crypto.com Visa Card, the world’s largest crypto card program, the Crypto.com Exchange, and the Crypto.com DeFi Wallet, now serves over 10 million users as the world’s fastest-growing crypto application.
Crypto.com NFT, which was recently founded, has become the top platform for collecting and selling NFTs from the fields of art, design, entertainment, and sports. Crypto.com is based on strong security, privacy, and compliance basis. CRO powers the Crypto.com exchange with deep liquidity.
Features of Crypto.com
1. Trading of cryptocurrencies: Crypto.com’s buying and selling feature on Crypto.com comes in two unique forms; Spot Trading and Margin Trading. Unlike spot trading, where traders can only position based on their account balance, Margin trading allows qualified users to borrow Virtual Assets and use them as leverage to open a larger trade than their account balance.
2. Deposits and Withdrawals: Users can easily make deposits and withdrawals of their crypto assets on the Crypto.com exchange platform. A withdrawal from the Crypto.com Exchange is an on-chain transaction that involves moving cryptocurrency to an external address.
Therefore, they come with a cost, just as any other blockchain transaction. Deposits on crypto.com, on the other hand, are free, and there are no limits to the number of cryptocurrencies that can be placed. Also, fiats deposits are not yet supported on the Crypto.com exchange.
3. Lending: Users can borrow against their crypto assets without selling them, thanks to Crypto.com Lending. Users can then use the assets as collateral to obtain cryptocurrency loans, use them for Margin Trading on the Crypto.com Exchange, or hedge on other exchange platforms.
Crypto.com reserves the right to adjust the Maximum Borrowing Limit at any time. Subject to loan rules, lending users can have up to three active loans at any given moment.
4. Staking: Users can stake their CRO token on the crypto.com exchange to earn rewards. Some of these rewards include CRO Rebates when a user pays for trading with CRO, 10% APR daily interest paid to the user, access to the syndicate of the Exchange, several pay benefits, and up to $2,000 in CRO for every referral made to the platform.
The Syndicate is a platform that allows the most promising crypto projects to raise funds by listing their coins or tokens on the Crypto.com Exchange. In addition, CRO holders, or those who have staked CRO on the Exchange, will receive preferential token allocation at a discount for certain events.
5. Trusted Device Management: Trusted Device Management is a security tool that allows users to control which devices can access their Crypto.com exchange accounts, increasing application security. A user can Authorize (or trust) a new device with Trusted Device Management. Users are urged to remove public devices added to the trusted device list after use for improved security.
Crypto.com Pay
Crypto.com Pay is one of the numerous services offered by the Crypto.com Exchange platform. Crypto.com Pay allows users to pay in crypto and earn rewards simultaneously. With instant settlements and zero gas fees, users can perform several transactions using Crypto.com Pay.
These include payment to merchants with the crypto.com pay checkout, purchasing rare NFTs on the Crypto.com NFT marketplace, shopping for Pay gift cards, recharging their mobile phones, and transferring cryptocurrencies to friends and loved ones for free. In addition, users also get to earn up to 100% back in CRO as rewards fully funded by the network.
Crypto.com Credit
With this service, users can monetize their crypto assets without selling them off. In addition, with the Crypto.com credit, users can now take loans up to 50% of their crypto collateral in assets without any credit check, the payback at their timeline, and even enjoy lower annual interest rate when they stake CRO on the Crypto.com exchange. Currently, the crypto.com credit charges an annual interest rate of about 8% per annum.
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