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Crypto.com is a leading cryptocurrency exchange with a wide range of product offerings. The app allows users to buy, sell, store, send and track cryptocurrencies at competitive rates.
Before trading on this exchange, crypto investors should be aware of the fee structure. This article provides a complete overview of Crypto.com’s fees and how it compares to other popular cryptocurrency exchanges.
What is Crypto.com?
Crypto.com, headquartered in Singapore, was founded in 2016 and has grown into a major cryptocurrency platform, with 10 million users and approximately 4,000 employees. In addition to buying and selling cryptos, the platform’s product offerings include an NFT marketplace, the Crypto.com Visa card, a DeFi wallet, and crypto loans.
The desktop version of the Crypto.com exchange is not yet available to US users. US investors can buy and sell cryptos through the exchange’s mobile app. The app is available for both iOS and Android.
Users can trade over 250 cryptocurrencies on Crypto.com, including:
Good to know
Cronos is Crypto.com’s native token and powers the exchange’s Pay app. The Crypto.com Pay app allows users to pay merchants with digital cash, purchase NFT collectibles, purchase Pay gift cards and perform other transactions.
The cost of Crypto.com varies based on several factors. Here’s a quick rundown of what those fees and factors are.
Crypto.com trading fees are based on the user’s 30-day trading volume. Trading volumes are divided into nine different levels. As a user’s trading volume increases, the exchange offers more discounts.
Like most cryptocurrency exchanges, Crypto.com charges two types of trading fees:
Customer fees. A taker is a user who makes a trade based on an existing order and “takes” volume from the order book.
Maker fees. A maker trade occurs when a user creates an order that remains in the order book for some time. These trades add volume to the order book and help “make” the market. In general, creators are rewarded with lower trading costs for creating liquidity.
At Crypto.com, creators and buyers are both charged 0.4% at base level 1. Here’s a look at Crypto.com’s creator-taker fees schedule.
Trade Volume Maker Fee Taker Fee Less than $25,000 (Level 1) 0.4% 0.4% $25,000 to $50,000 (Level 2) 0.35% 0.35% $50,000 to $100,000 (Level 3) 0.15 % 0.25% $100,000 to $250,000 (Level 4) 0.1% 0.16% $250,000 to $1 million (Level 5) 0.09% 0.15% $1 million to $20 million (Level 6 ) 0.08% 0.14% $20 million to $100 million (Level 7) 0.07% 0.13% $100 million to $200 million (Level 8) 0.06% 0.12% $200 million and higher (level 9) 0.04% 0.1%
Crypto.com does not charge any deposit fees for cryptocurrency assets, regardless of coin or network. There is also no charge for fiat currency deposits in US dollars via ACH or bank transfer† To be eligible for a US dollar fiat wallet that can receive ACH or wire transfers, US users must have:
A social security number A residential address in the US (not a PO box) A bank account in the US
Crypto.com fees apply to withdrawing cryptocurrencies from the exchange. These costs depend on many factors, including the status of the recording network. It is a good idea to check Crypto.com for an updated list of withdrawal fees per cryptocurrency.
Another factor influencing withdrawal fees is the type of cryptocurrency. Each coin has a different withdrawal fee that is denominated in that asset. For example, Crypto.com currently charges a withdrawal fee of 0.0001 BTC to withdraw Bitcoin through the BEP20 network.
Digital money traders may be charged an administration fee on the Crypto.com exchange. These costs are determined at the time of purchase and vary by market. The administration fee is displayed on a sample screen for verification before submitting a transaction.
Since January 2021, Crypto.com offers new users 0% fees for crypto purchases made with a credit or debit card during the first 30 days. Users must reside in an eligible jurisdiction and pass the exchange know-your-customer verification to claim the offer.
How does the cost of Crypto.com compare to other exchanges?
Fee structures usually vary between cryptocurrency exchanges, so it can be difficult to compare fees. While most exchanges use the maker-taker model, some of them charge flat fees and do not differentiate between takers and creators.
Another factor that makes comparisons difficult is the availability of coins. Some exchanges offer certain cryptocurrencies that others do not, making it difficult to compare withdrawal fees.
Nevertheless, here is a comparison of some fees between Crypto.com and other leading exchanges:
Exchange trading fee Bitcoin withdrawal fee Crypto.com 0.04% to 0.4% maker-taker fee .0001 BTC (BEP20) Binance.US 0% to 0.1% maker-taker fee (25% discount for Binance Coin) .0000048 BTC (BEP20) Bittrex 0% to 0.35% maker-taker fee Not applicable Coinbase 1.49% to 3.99% trading fee (or $0.99 to $2.99 flat fee)-
0.5% spread fee Not applicable Coinbase Pro 0% to 0.6% maker-taker fee Not applicable CEX.IO 0% to 0.25% maker-taker fee Not applicable Gemini $0.99 up to $2.99 transaction fee (for transactions under $200)-
1.49% transaction fee (for transactions over $200) Up to 0.001 BTC
In terms of trading, Crypto.com’s maker-taker fees are higher compared to competitors who operate on the same fee schedule. For the withdrawal of Bitcoin, Crypto.com offers a competitive rate compared to other exchanges.
For those who want to start investing in cryptocurrencies, a centralized exchange like Crypto.com is a good option. While it has higher trading fees compared to most of its competitors, it offers trading support for many cryptocurrencies and a wide range of cryptocurrency products all of which can be accessed through the Crypto.com mobile app.
To minimize withdrawal fees, users should take the time to compare coins before scheduling a trade. They should also consider converting high cost assets to lower ones before starting a withdrawal.
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About the author
Ryan is a freelance writer specializing in legal and financial writing. He has a Juris Doctor degree and enjoys learning about cryptocurrencies and Austrian economics. When not writing, Ryan enjoys traveling, exercising and taking long walks with his dog Brandy.