Updated: Feb 21, 2022
It can be a little overwhelming knowing where to start when you're first getting into crypto. There are so many options as a beginner it can be confusing.
Let's set you up for success with one of the best all-around exchanges on the market.
Today I’m going to run you through how to set up an account with one of my favorite exchanges, Crypto.com. I love these guys because they have one of the best apps with tons of special features.
When I first started, I signed up with a prominent Australian exchange because it really was the only one I'd heard of. It was easy to use and had all the coins I was looking for, but the fees really were a killer. I didn't have anything else to compare it too so I just assumed it was normal.
Looking back I could have saved thousands in fees and lost gains because I had actually signed up to the exchange with the highest fees in the country. And as I evolved as a trader I quickly moved out of the platform because it had very limited features.
There are tons of exchanges out there and they all have their pros and cons. I recommend Crypto.com as I personally use it every day as my primary HODL exchange as they have tons of staking options and they have a Visa Debit Card that has a great rewards program. Let's get into it!
The Crypto.com Ecosystem
Crypto.com is one of the largest exchanges in the world and is available in many different countries. The Ecosystem consists of a series of linked apps that pretty much cover all of your cryptocurrency needs.
Some of the options crypto.com has on offer right now are:
Crypto.com Phone app and Spot Wallet
Simply transfer money from your bank account to your app and you can be buying crypto in next to no time!
The Crypto.com ecosystem consists of a series of connected apps and websites. The primary one I use is the phone app. Here you can easily buy and sell coins, the stake for passive income, access the supercharger and loans features and manage your Crypto.com Visa Debit Card.
There are also games and an education series that reward you with CRO tokens for completing them.
Buy and Sell crypto with full exchange features on the Crypto.com exchange.
The next app is the Crypto.com Exchange. This is the more advanced platform for intermediate users. There are more advanced staking options here including the ability to 'soft stake' all of your coins on a flexible term for 0.5-2%. Get rewarded with lower fees for staking and paying your fees with CRO. Earn a minimum of 10% APR on CRO staked for more than 180 days. You can also access the Crypto Loan and Supercharger features from the exchange.
Flexible and Fixed Term Staking
With their crypto earn feature you can choose to stake for a flexible term or for a set period of 1 or 3 months. The longer you stake the higher your staking returns. You can access this feature from both the phone app and the exchange.
Special Staking Rewards
The Crypto.com Supercharger feature is a fun way to make extra returns by staking your CRO tokens and receiving an allocation of a certain token in return. For example, the next supercharger event will pay out Bitcoin in return for staking your CRO for 30 days.
You can also sometimes purchase CRO NFTs on their NFT platform that will supercharge your supercharger return. Supercharger is accessible from both the phone app and the exchange.
Borrow major coins like BTC, ETH, and stable coins against other major cryptos at competitive rates. You can access this feature from both the phone app and the exchange.
An external wallet where you control the keys
Import an external defi wallet or create a new one and connect to your main account. Having a hot wallet with your own keys gives you more control over your coins. Enables you to stake various coins in external platforms like AAVE and Yearn Finance. Your Defi wallet is ERC20 compatible so you can store your NFTs in it as well.
Buy and Sell NFTs
A new NFT marketplace where you can buy and sell NFTs. Crypto.com also has its own NFTs which are sometimes attached to rewards. For example, they have offered an NFT with a 20x booster for your supercharger rewards.
Crypto.com Visa Rewards Card
Get paid to spend your money!
Perhaps the best part is the Visa Debit Card. Yup, that’s right you can earn crypto on everyday purchases. It’s as easy as transferring your weekly paycheck to your crypto.com visa card for things you already buy every day and earn crypto as simple as 123. You only need to stake $500 for 180 days to get the card. You can take the money out after that but by that point, you'll probably want to keep going and try and get the next card up for more rewards if you love it as much as I do! (My CRO tokens went up almost 5x in the time I held them.)
Depending on the card you also get other bonuses such as free Spotify and Netflix. The card also doesn't have an annual fee either. After the first transfer, your money is instantaneously transferred via OSKO from your bank account to your Crypto.com Card. The only downside is that it's technically prepaid Visa so I've found I can't pay some bills with it. But for everything else I'm making free CRO for my everyday spending!
Crypto.com Review Summary
Hopefully, this has been helpful in explaining the many exciting features of the Crypto.com ecosystem. From buying, selling, and swapping coins, to many different types of staking, crypto lending, NFTs, Defi wallet, and Visa cards, there is really something for everyone from very beginners to advanced.
If you'd like to sign up using this link to earn $25 when signing up*!
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*The $25 becomes unlocked after you stake a Ruby card or above. The Ruby card entitles you to 2% rewards on all your purchases with no monthly or annual fee. Depending on which card you choose you can gain up to 3% - 8% card rewards on every purchase. Enjoy 4-14% staking returns based on the coin and your card level. Full T&Cs here.