Crypto.com Exchange – Cryptocurrency Exchange Volume and Information

Crypto.com represents a one-stop-shop for consumers to buy, save, and spend cryptocurrencies like Bitcoin, Binance Coin, and Ethereum. The site features a variety of staking options that allow customers to unlock features like cashback, rebates, and interest rewards. Strongly geared towards everyday individuals, the company provides many ways for customers to take full advantage of their digital asset holdings. At Crypto.com, you'll deal with their native token MCO and CRO. Let's explore the different role each token plays in the company's broader ecosystem a bit further.

The first token created by the project was MCO, which gets used as a staking mechanism to upgrade credit cards with tiered benefits. 

Crypto.com Coin (CRO) is the native token of their Crypto.com Chain. After the MCO Swap announced on August 3, 2020, by Crypto.com, CRO became the sole token to power all of their products. This included MCO visa cards, Exchange, Pay and more. CRO is also listed on a wide range of well-known exchanges like Bithumb, Binance, Bittrex, and OKEx.

Crypto.com Exchange is a cryptocurrency exchange platform with its head quarters in Hong Kong. It was launched by Crypto.com in 2019. One can imagine that the domain crypto.com wasn't cheap to purchase... The domain was actually registered as early as 1993, by a cryptographer named Matt Blaze. He was working at AT&T with security for multiple computer systems. It is said that Matt early on expected that crypto would be a big part of the monetary system in the future. In 2018, the domain was acquired by the company now running the Crypto.com Exchange (purchase price is not disclosed). The exchange itself was, as mentioned above, launched in 2019. It offers trading in 29 different cryptocurrencies.

Mobile Support

Most crypto traders feel that desktop give the best conditions for their trading. The computer has a bigger screen, and on bigger screens, more of the crucial information that most traders base their trading decisions on can be viewed at the same time. The trading chart will also be easier to display. However, not all crypto investors require desktops for their trading. Some prefer to do their crypto trading via their mobile phone. If you are one of those traders that likes to use their mobile phone for trading, you’ll be happy to learn that Crypto.com offers the Crypto.com App. You can download it to/from both the AppStore and Google Play

Pros

• Regular discounts called “Syndicate Events” offer up to 50% off coins
• Soft staking allowing you to earn up to 5% on deposited assets
• Staking CRO earns you up to 20% interest
• Excellent UI is friendly for users
• Trading competitions and participation incentives

Cons

• The exchange is relatively new, not yet having proven its track record
• The high staking rewards has people nervous about their business model

Every time you place an order, the exchange charges you a trading fee. The trading fee is normally a percentage of the value of the trade order. Many exchanges divide between takers and makers. Takers are the one who “take” an existing order from the order book. Makers are the ones who add orders to the order book, thereby making liquidity at the platform.

This platform charges takers a maximum of 0.16% per trade. These taker fees are quite in line with the global industry averages for centralized exchanges. Industry averages have historically been around 0.20-0.25% but we now see new industry averages emerging around 0.10%-0.15%. Regardless of what you compare against, 0.16% is perfectly fine. The platform also has an even better trading fee for makers, who only pay 0.10% per deal. 

Crypto.com Exchange also offers trading fee discounts to its customers by certain transaction volume over the most recent 30 day period. The more you trade for, the lower your trading fees become. Here are the available VIP-levels and trading fee discounts (where the blue columns assume that you stake at least 5,000 CRO-tokens.

The Syndicate

The Syndicate is an interesting feature of the Crypto.com Exchange, it is the fundraising platform from Crypto.com that offers the opportunity for crypto projects to list their tokens on the Crypto.com Exchange. Crypto.com Coin (CRO) holders will then be able to participate in The Syndicate and receive priority token allocation for up to 50% discount sales if you stake at least 5,000 CRO on Crypto.com Exchange. Users who stake 10,000 or more CRO for 6 months can even enjoy 20% APR paid in daily. The more you stake, the more you will earn. Users who are staking more CRO will enjoy a better interest rate from another staking option called Soft Staking on the exchange platform.

Your Keys, Your Crypto

• Full control of your crypto and your keys. You are in control of all your digital assets. Easily manage BTC, ETH, CRO, LTC, XRP, XLM and your other ERC-20 tokens in the wallet. You can easily import your existing wallet with a 12/18/24-word recovery phrase to the Crypto.com DeFi Wallet.
• Convenience at your fingertips. Connect your Crypto.com DeFi Wallet to the Crypto.com App to easily access the diverse crypto financial services offered by Crypto.com.
• Security is our top priority. Your private keys are encrypted locally on your device with Secure Enclave, protected by: Biometric Authentication, Two-Factor Authentication (2FA)
• A flexible way to send crypto. You can send crypto at your preferred confirmation speed and network fee.

New User and Staking Benefits

Crypto.com is trying to increase the adoption of its native CRO token, so it offers significant benefits to users who agree to stake the token. It’s also offering bonuses to new users for signing up for and using the exchange.

As of June 2020, the available benefits are:

• 2% bonus on exchange deposits, paid in CRO, and automatically staked for 180 days.
• 0% trading fees for new users for the first 90 days.
• Earn up to 20% interest APR  on CRO tokens staked for more than 180 days.
• Trading fee discount on a sliding scale for staking a minimum of 10,000 CRO tokens.
• 50% discount on coins listed in the bi-weekly Syndicate events, for those who stake a minimum of 10,000 CRO tokens. Syndicate is the exchange’s new listing and fundraising platform, comparable to Binance’s Launchpad.

Crypto.com also offers a “soft staking” program to users who keep their funds on the exchange. There is a minimum holding amount, and you can increase the staking rewards for all available coins by staking over 100,000 CRO tokens. Take USDT for example, the interest rate (APR) is 4% if you’ve staked 100,000 or more CRO instead of 2%.

Fee Structure

There are zero deposit fees. For withdrawals, there is a flat fee charged for the coin being withdrawn, and there’s also a minimum withdrawal amount applied in all cases. For example, the minimum withdrawal for BTC is 0.003, and the fee is a flat 0.0004 BTC. Trading fees start at 0.10% for maker orders and 0.16% for taker orders. These are already competitive compared to the market. Huobi trading fees, for instance, start at 0.20% for both maker and taker orders.

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