How To Deposit Funds Into Crypto.com

Crypto.com Fees: A Total Breakdown and How It Compares

Crypto.com is a leading cryptocurrency exchange with a wide range of product offerings. Its app allows users to buy, sell, shop, send and rail cryptocurrencies at competitive rates.

See: 5 Things Yous Must Do When Your Savings Accomplish $50,000

Before trading on this commutation, crypto investors should be aware of its fee structure. This commodity will provide a complete breakup of Crypto.com fees and how they compare to other popular cryptocurrency exchanges.

What Is Crypto.com?

Headquartered in Singapore, Crypto.com was founded in 2016 and has grown to get a major cryptocurrency platform, with lxx one thousand thousand users and around 4,000 employees. In add-on to buying and selling cryptos, the platform’southward product offerings include an NFT market, the Crypto.com Visa card, a DeFi wallet and crypto loans.

The desktop version of the Crypto.com exchange isn’t available to U.S. users yet. U.Southward. investors can buy and sell cryptos through the exchange’due south mobile app. The app is bachelor for both iOS and Android.

Users can trade over 250 cryptocurrencies on Crypto.com, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Cardano (ADA)
• Dogecoin (DOGE)
• Polkadot (DOT)
• Cronos (CRO)

Good To Know

Cronos is the native token of Crypto.com and powers the exchange’s Pay app. The Crypto.com Pay app lets users pay merchants with digital cash, purchase NFT collectibles, shop for Pay gift cards and conduct other transactions.

Crypto.com Fees

Crypto.com fees vary based on several factors. Here’s a cursory overview of what those fees and factors are.

Trading Fees

Crypto.com’s trading fees are based on the user’southward 30-twenty-four hours trading book. Trading volumes are categorized into nine dissimilar tiers. Every bit a user’s trading volume increases, the exchange offers more discounts.

Similar well-nigh cryptocurrency exchanges, Crypto.com charges two types of trading fees:

1. Taker Fees:
   A taker is a user who makes a merchandise from an existing society and “takes” volume off the order book.
2. Maker Fees:
   A maker trade happens when a user creates an order that remains on the club book for some fourth dimension. These trades add together book to the order volume and assistance “make” the market. In full general, makers are rewarded with lower trading fees for creating liquidity.

At Crypto.com, makers and takers are both charged 0.075% at the basic Level i. Here’south a look at Crypto.com’s maker-taker fee schedule.

Deposit Fees

Crypto.com doesn’t accuse whatsoever eolith fees for cryptocurrency assets, regardless of the coin or network. It also doesn’t charge a fee for U.S. dollar fiat currency deposits via ACH or wire transfer. To be eligible for a U.South. dollar fiat wallet that tin can receive ACH or wire transfers, U.S. users must have:

• A Social Security number
• A U.Southward. residential address — not a P.O. box
• A U.Due south. depository financial institution account

Withdrawal Fees

Crypto.com fees apply to the withdrawal of cryptocurrencies from the exchange. These fees depend on many factors, including the condition of the withdrawal network. It’s a skilful idea to cheque Crypto.com for an updated list of withdrawal fees by cryptocurrency.

Some other factor that affects 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 via the BEP20 network.

Buy Fees

Digital cash traders may be charged admin fees on the Crypto.com exchange. These fees are determined at the time of purchase and vary by market. The admin fee will be displayed on a preview screen for verification before a transaction is submitted.

Since January 2021, Crypto.com has offered new users 0% fees for crypto purchases made with a credit or debit card for the first xxx days. Users must alive in an eligible jurisdiction and pass the exchange’due south know-your-customer verification to claim the offering.

How Do Crypto.com Fees Compare To Other Exchanges?

Fee structures tend to vary across cryptocurrency exchanges, and then comparing fees amidst them can be hard. While near exchanges use the maker-taker model, a few of them charge flat fees and don’t differentiate between takers and makers.

Another cistron that makes comparisons difficult is coin availability. Some exchanges offer certain cryptocurrencies that others don’t, which makes it hard to compare withdrawal fees.

Nevertheless, here’s a comparison of some fees between Crypto.com and other leading exchanges:

In terms of trading, Crypto.com’s maker-taker fees are low compared to competitors that operate with the same fee schedule. For bitcoin withdrawals, Crypto.com offers a competitive rate compared to other exchanges.

For those who want to brainstorm investing in cryptocurrencies, a centralized exchange similar Crypto.com is a good option. Although it has higher trading fees compared to most of its competitors, it offers trading back up for many cryptocurrencies and a broad range of cryptocurrency products that tin can all be accessed from the Crypto.com mobile app.

Advice

To minimize withdrawal fees, users should take fourth dimension to compare coins ahead of scheduling a transaction. They should also consider converting assets with loftier fees to lower ones before initiating a withdrawal.

Daria Uhlig contributed to the reporting for this commodity.

Editorial Annotation: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the writer solitary and have not been reviewed, canonical or otherwise endorsed by whatever entity named in this article.