Crypto.com Exchange Reviews for April 2024

Crypto.com delists USDT for Canadian users following OSC ban. Registered cryptocurrency exchanges in Ontario, Canada, cannot list USDT due to regulatory prohibition. According to user reports circulating on social media on Jan. 10, cryptocurrency exchange Crypto.com plans to delist Tether (USDT) for Canadian users, effective Jan 31. The exchange has told itcustomers that if they do not withdraw or convert their USDT assets by the deadline, then their Tether will be automatically converted into USD Coin (USDC). It wrote: “You may incur a retrieval fee if deposits of USDT are made from external wallets after this suspension period, and fund retrieval may not be possible in some cases.” In August, Crypto.com announced that the Ontario Securities Commission had accepted the firm's pre-registration undertaking for operations in Canada. As part of regulatory requirements, cryptocurrency exchanges operating in the Canadian province of Ontario are prohibited from listing digital assets banned by the OSC, which includes USDT. Similarly, Coinsquare, a cryptocurrency exchange regulated by the Investment Industry Regulatory Organization of Canada (IIROC), currently does not list USDT as one of its available trading assets.

Couple sent $10.5M by Crypto.com claim they thought they won a prize. The duo allegedly went on a spending spree with Crypto.com’s funds, buying four houses, vehicles, art, furniture and gifts, but 7 million AUD has now been returned. The Melbourne couple who mistakenly sent almost $6.6 million, or 10.5 million Australian dollars, on Crypto.com in 2021 is arguing in court that they thought the funds were won via a competition. Thevamanogari Manivel and her husband, Jatinder Singh, are currently facing a trial in the Victoria Supreme Court over theft charges, among others, after the duo allegedly went on a spending spree with Crypto.com’s funds last year. Appearing via video link in Melbourne magistrates court on Oct. 11, Manivel and Singh pleaded not guilty to their respective charges, with the defense being that Singh had thought he had won a contest from Crypto.com and had told his wife as such. The funds were initially sent to Manivel’s bank account in May 2021, with Crypto.com compliance officer Michi Chan Fores telling the court that the issue arose from an employee based in Bulgaria entering incorrect details into an Excel spreadsheet. The Crypto.com account itself belonged to Singh, but the funds went to his wife’s bank account, as he had been using her bank cards to purchase crypto. The firm did not realize its mistake until an audit occurred in December.

Crypto.com moves forward with multimillion-dollar renovation of Staples Center following staff cuts. Despite announcing it would cut its staff by roughly 5% in June and the recent market downturn, cryptocurrency exchange Crypto.com has continued to move forward with an agreement to rebrand the Los Angeles-based venue formerly known as the Staples Center. In a Monday tweet, Crypto.com released an artist’s rendering of some of the changes it planned to implement at the iconic arena in a reported “multimillion-dollar campaign” before many major sports teams begin playing later in 2022. Some of the renovations included new jumbo screens and concession stands, as well as a terrace overlooking the downtown Los Angeles area. The crypto exchange signed a $700-million agreement with arena owner AEG in November 2021, giving Crypto.com naming rights over the venue for 20 years. In October 2021, Hollywood star Matt Damon plugged the platform in an ad campaign that later went viral. However, many in and out of the crypto space subsequently ridiculed Damon’s appearance and Crypto.com’s “Fortune Favors the Brave” tag line. Amid the market downturn in June, Crypto.com CEO Kris Marszalek announced the exchange would be cutting 260 people from its corporate workforce or 5% of all employees at the time. In addition, the company said in May it would be reducing staking rewards for its Cronos (CRO) token for most tiers of its VISA prepaid card. Despite the restructuring, the exchange has moved forward with obtaining regulatory approval in South Korea, Italy, Cyprus and the United Kingdom. Reactions to the arena’s updates were mixed from Angelenos and crypto users on social media, with some hinting at their displeasure with the company’s decision to reduce staking rewards and others making connections to its ad campaign.

Crypto.com exchange follows in FTX's footsteps by targeting aggressive expansion in Europe after receiving CySEC approval. Singapore-based cryptocurrency exchange Crypto.com continues to aggressively expand its reach, becoming the latest crypto firm officially authorized to operate in Cyprus. Crypto.com has received regulatory approval from the Cyprus Securities and Exchange Commission (CySEC), the firm announced to Cointelegraph on July 22. The approval enables Crypto.com to offer a number of products and services to customers in Cyprus in compliance with local regulations. The new regulatory milestone comes in line with Crypto.com’s growing global presence as the firm has been actively expanding its operations, receiving approvals to operate in countries like Italy, Greece and Singapore. According to Crypto.com co-founder and CEO Kris Marszalek, the exchange currently prioritizes Europe as the main region for continued expansion. That is a “testament to our commitment to compliance and collaboration with regulators,” he said. Crypto.com is not the only cryptocurrency exchange that has been approved to operate in Cyprus. Major rival exchange FTX has also been expanding in Europe after receiving approval from the CySEC in March 2022. Other exchanges like Coinbase have also been increasingly interested in expanding in Europe amid the ongoing bear market. Despite global exchanges increasingly moving in the Cypriot market, the government of Cyprus has not provided too much certainty about cryptocurrency regulation in recent years.

Crypto.com will have further requirements before its full license is granted in the “near-term” and FTX said the move would allow it to work “directly with Japanese regulators.” Two out of the top 10 largest cryptocurrency exchanges by volume will expand into new markets, with Crypto.com obtaining a provisional crypto license in Dubai and FTX launching in Japan. Crypto.com announced on June 2 that the Dubai Virtual Assets Regulatory Authority (VARA) provided the exchange with provisional approval of its Virtual Asset License giving the company the go-ahead based on initial compliance checks. The exchange said that VARA will carry out further due diligence and other mandated requirements before its full operating license is issued which it expects to happen in the “near term”. Crypto.com said in March it would create a regional office in the United Arab Emirates (UAE) largest city after it enacted new laws for crypto and created VARA with the goal of making Dubai a global hub for crypto. The UAE Minister of State for Foreign Trade, Dr Thani Al Zeyoudi said in the announcement the country believes “cryptocurrencies, virtual assets and blockchain will revolutionize the financial services sector.” He added it's “attracting companies to the UAE to build on this vision and enable technologies of the future to flourish here.”

Crypto.com unblocks users, reverses glitched LUNA trades that made 30-40x. On May 13, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA. Crypto.com was one of the few crypto exchanges to keep Terra (LUNA) trades open as Terra’s death spiral saw an unrecoverable price crash of LUNA and stablecoin TerraUSD (UST). However, a technical glitch on Crypto.com’s mobile application allowed users to get away with a 30-40x profit on LUNA trades momentarily. On Friday, Crypto.com abruptly barred users from trading after an internal tool detected the system quoting incorrect prices for LUNA due to some error. Just when Crypto Twitter started raising concerns about trade reversals on the exchange, Kris Marszalek, CEO of Crypto.com, revealed details about a glitch that allowed users to make away with massive profits.

Crypto.com becomes official sponsor of 2022 FIFA World Cup in Qatar. Though trading cryptocurrencies has been largely illegal in Qatar since 2018 , Crypto.com is likely to reach a more international crowd given the popularity of soccer on the world stage. FIFA, an international governing body for many major soccer tournaments, has announced that cryptocurrency exchange Crypto.com will be an official sponsor of its next World Cup in Qatar. In a Wednesday announcement, the association said Crypto.com’s branding will appear both inside and outside of stadiums for the FIFA World Cup Qatar 2022 scheduled to begin in November. The crypto exchange will provide opportunities for its users to attend matches and win official merchandise as part of the sponsorship. According to FIFA chief commercial officer Kay Madati, the deal will help grow the games “on a global scale,” citing Crypto.com’s partnerships with other entities around the world. In November, the exchange inked a deal to rename the Los Angeles-based sports and entertainment venue Staples Center to the Crypto.com Arena for 20 years. Crypto.com has also partnered with the Australia Football League in a $25 million deal, signed a $100-million sponsorship agreement with Formula 1 and inked a 10-year $175 million sponsorship agreement with the Ultimate Fighting Championship.

Singapore-based cryptocurrency platform Crypto.com has finally acted out on its US expansion plans with the initial launch of its exchange subsidiary in the country. According to the prepared statement, the VIP users will be provided with exclusive events, rewards, and Crypto.com’s “cutting-edge” market insights. Planning out the launch in several phases, the initial rollout will allow waitlisted users to access the platform. In addition, the platform is currently only available for US-based institutional investors with plans to roll out the program for everyone. “We are excited to be expanding our offering for professional traders to the U.S.,” said Kris Marszalek, CEO of Crypto.com in a press release issued today. “Crypto.com Exchange will support U.S. institutional investors through this initial launch phase. We are looking forward to rolling it out to everyone as soon as possible.” Since its founding in 2016, Crypto.com has become one of the largest exchanges by spot trading volume. The exchange, with the likes of FTX, Coinbase, and eToro, also bought ad space for the US Super Bowl Championship event. In November, it also acquired the naming rights of the NBA home stadium Staples Center in a $700 million deal.

Crypto.com, a global crypto trading service provider with its headquarters in Singapore, is primarily known for its $500-million venture arm fund to support early-stage crypto startups. However, the exchange has a strong footing in the Asian market despite its primary sponsorship partnerships in the United States. The platform launched its flagship crypto Visa card that allows people to spend their crypto at Visa merchants in Asia first, followed by the rest of the global market, which indicates the popularity of the crypto ecosystem in Asia.

I use this one and Binance. Crypto.com is awesome app (not glitchy) for newbie, fast, simple and easy layout. It has quite a few coins for purchase and alot that you can't purchase, so I go find them on my binance, except the alerts are shit on binance, so if I am following coins on binance, I go to Crypto.com app and see if I can set alerts there because at least they work. App works great, except not real time(perpetual) prices , but seem pretty accurate still. Highly recommend it for someone who is just getting started.