For those looking into crypto as an investment, there are many options in regards to where you can keep your currencies. Some sites will now let you accrue interest on your crypto, and if you plan on holding what you own as an investment for a while, looking into them is worth it.
Today, we’ll look at Crypto.com, a website that’s getting a good deal of attention at the moment. We’ll break down what it is and whether it’s worth it to leave your crypto investments there.
What is Crypto.com?
Decentralized currency is on the mind of many investors these days. No particular bank or government regulates crypto. That could change at some point, but for now, that’s what makes it attractive to many individuals.
Blockchain technology and crypto go hand in hand. By 2025, blockchain’s market worth will equal over $40 billion, so it’s not as though this is a minor industry anymore. Both blockchain and crypto have hit the big time, and Crypto.com is a website working hard to capitalize on that.
Crypto.com is a currency exchange website and app based in Singapore. It has about 3,000 employees right now and approximately 10 million users. The company opened its doors back in 2016, and since then, they have grown nearly exponentially.
What Can You Do There?
If you go to their website, the first thing you’ll probably see is Matt Damon telling you about being bold and trading crypto. That indicates what kind of money they have and how they’re trying to attract new customers.
If you set up an account with them, you can buy and sell more than 250 different crypto forms. They also have a Crypto.com Visa card that you can use to get up to 8% cashback on some purchases.
Those are significant perks, but some users see the site as a way to grow their crypto portfolios. Crypto.com advertises that you can receive rewards totaling as much as 14.5% on crypto assets. That’s hard to resist if you’re planning on getting into crypto trading and investing anyway.
What Crypto Can You Trade on Crypto.com?
You can trade many of the top crypto options on Crypto.com, including Bitcoin, Ethereum, and CRO. You can also use several fiat currencies, including EUR, USD, and GBP.
Fiat currencies, if you don’t know this term yet, are government-issued currencies without physical commodities backing them. In other words, they don’t have gold, silver, or some other entity behind them. A particular government, such as the US or the United Kingdom, stands behind each one.
What Else Should You Know About Crypto.com?
The site sees more than $2.5 billion in traded volume every day, which is pretty staggering if you think about it. People exchange fortunes daily through the website and app combined, though most people are trading fairly small amounts.
If you are considering signing up for an account with Crypto.com, their Visa card might be one of the top reasons to do it. We mentioned how much cashback you can get, but everywhere that takes Visa will take their card. That means you can use it at nearly 100 million retailers worldwide.
There are three Visa credit cards you can get through the site. They are the Obsidian Black option, the Ruby Steel, or the Midnight Blue. The site considers the Obsidian Black card the most desirable one, followed by Ruby and Blue.
If you want to get a Crypto.com debit card, they will currently send one to you if you live in the USA, Brazil, Singapore, the European Union, the United Kingdom, and Canada. More countries should join this list soon.
Is It Worth It to Sign Up for an Account?
If you’re getting into crypto trading, it’s easy to see why this site and app would appeal to you. They have an interface that’s easy to use, and you don’t have to know very much about crypto to sign up and play around with it.
If you’re interested but not sure if you want to commit to anything yet, you can also watch the tutorial on their website. They have tried to make it as user-friendly as possible, and the amount of attention they’re getting seems to indicate that it’s working.
They also have a section where you can learn about crypto-related events. You can see products that they have coming out, and read crypto-centric articles. This seems like a great place to start if you’re ready to involve yourself in the crypto craze.
