Crypto.com is a cryptocurrency exchange and website that offers trading and other services for users. Over 10 million users use the site and apps to buy, sell, trade, and invest in cryptocurrencies.
There are several key services that Crypto.com offers to cryptocurrency holders. The platform operates similarly to a bank and crypto exchange hybrid. Users can store their coins in a crypto wallet or use them for margin or derivatives trading.
Crypto.com boasts of fast and easy service, as well as low fees associated with their Bitcoin exchange services. But most of the benefits Crypto.com offers are realized through the mobile app. Let’s take a closer look at how people are using the Crypto.com App to pursue their cryptocurrency goals.
The Crypto.com App
The Crypto.com App is available for Android and Apple devices. You can download it through Google Play or the App Store. The buttons on the Crypto.com home page link directly to where you can download the Crypto.com App. Once you’ve downloaded the app and signed into your account, you can start using it to complete the functions you wish to make online. Here are some examples of important functions.
Buy Bitcoin with a Credit Card
You can use credit cards to purchase cryptocurrencies on Crypto.com. One of the fastest ways to do so is on the Crypto.com App. You can edit your payment information and add payment options on the Crypto.com App. Once you’ve set up your credit card, you can make your first Bitcoin purchase.
Sell Bitcoin and Cryptocurrencies
Many cryptocurrency transactions are conducted with Bitcoin (BTC). Once you have some BTC in your Crypto.com wallet, you can sell or use it for other purposes. Crypto.com also serves as a wallet, so you can hold Bitcoin and other cryptocurrencies there.
Conducting transactions on the go via the Crypto.com App is even easier than using Crypto.com on a desktop. The app was designed to suit a fast-paced digital world that will include cryptocurrencies. All you need to do is follow the app’s prompts. You can also make withdrawals faster than you can from the website.
Earn Interest in Crypto
There are a few ways you could approach long-term investing on Crypto.com. One way is to simply buy and hold one given cryptocurrency. The value of your cryptocurrencies can increase as you keep them stored in your Crypto.com wallet. But the app can be used for other types of investing.
You can receive 1% interest on deposited crypto without raising your Crypto.com Coin (CRO) stake. You just need to use the Crypto.com DeFi Earn feature to earn interest from 1 of 35 tokens. You can earn interest on these Decentralized Finance (DeFi) protocols without a lock-up period. If you invest more, you can earn up to 8% on normal cryptocurrencies and a maximum of 14% on some stablecoins.
All interest is paid out weekly in the deposited cryptocurrency of your choice. One way this can be approached is to only invest in stablecoins. These coins are pegged to fiat currencies and commodities. Investing in them will earn you more interest regardless of your CRO stake. Learn more about ways of earning interest on your crypto assets with Crypto.com Earn here.
Crypto.com Visa Card
Crypto.com also offers its own Visa cards. There are 5 Crypto.com Visa cards currently available, and users are allowed to choose between a debit or a credit card to begin transacting.
The Crypto.com Visa Card can be used to make purchases. With a higher CRO stake, you can also benefit from excellent cashback rewards. However, you will need a lot to invest a lot of money in CRO to qualify for the highest interest rates.
For example, any user can qualify for the “Midnight Blue” 1% cashback Visa Card. But major CRO holders can qualify for 8% cashback as well as credits for Spotify, Netflix, Expedia, and Airbnb.
Get a Crypto-Backed Loan
You can use your crypto assets stored in your Crypto.com wallet to secure a loan. The idea is that you can secure a loan instantaneously by putting your stored cryptocurrency as collateral.
Instant funding is available from the moment you deposit an eligible cryptocurrency as collateral. Apart from that, these alternative loans offer some additional benefits, such as flexible repayments that can be paid within 12 months and on your schedule. That means that there are no sneaky pre-payment penalties, and you can make repayments when you choose to. The more CRO staked, the less pricey the transaction fee.
The crypto-backed loan interface can be accessed from the Crypto.com App. From there, you can apply for a crypto-backed loan directly by following the prompts and filling in the missing information.
Tracking Crypto Coins
The Crypto.com App offers several useful tracking tools. You can set up customized alerts for over 200 cryptocurrencies and stay up-to-date with all the latest changes. Alerts can be customized for specific price points or changes to a cryptocurrency’s price, including. You can choose to track a specific price or a percentage +/- you specify for a given coin. These tracking options are designed to help you keep up with the market and act faster.
You can use Crypto.com with Cointracking.info to cover your financial information. In fact, this tool was the world’s first cryptocurrency tax reporting tool when it came out in 2013. You can use it to connect with tax professionals around the world.
Send Crypto to Crypto.com Users
The Crypto.com App also functions as a wallet. It is safe and easy to send cryptocurrencies to other Crypto.com users. If both users are verified, transfers are normally completed in a matter of seconds.
How to Get Started with the Crypto.com App
Getting started with the Crypto.com App is easy. You can download it for Android devices from Google Play or for iOS devices from the App Store. Download the app that works on your mobile device, and once it is downloaded, all you need to do is sign in to your Crypto.com account. After that, you can use all the features we have discussed and more.