Transfer Cro From Coinbase To Crypto.com

Crypto.com Fees: A Full Breakup and How It Compares

Business concept of worldwide cryptocurrency stock photo

Diy13 / iStock.com

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


See: 5 Things You Must Exercise When Your Savings Reach $50,000

Earlier trading on this substitution, crypto investors should be aware of its fee construction. This article 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 become a major cryptocurrency platform, with 70 million users and around four,000 employees. In addition to buying and selling cryptos, the platform’due south 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 isn’t bachelor to U.S. users yet. U.S. investors can buy and sell cryptos through the exchange’south mobile app. The app is available 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 commutation’s Pay app. The Crypto.com Pay app lets users pay merchants with digital greenbacks, buy NFT collectibles, store for Pay gift cards and acquit other transactions.

Crypto.com Fees

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

Trading Fees

Crypto.com’south trading fees are based on the user’due south xxx-mean solar day trading volume. Trading volumes are categorized into nine unlike tiers. As a user’s trading volume increases, the exchange offers more discounts.

Similar virtually cryptocurrency exchanges, Crypto.com charges two types of trading fees:

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

At Crypto.com, makers and takers are both charged 0.075% at the bones Level 1. Here’southward a look at Crypto.com’s maker-taker fee schedule.

Trading Volume Maker Fee Taker Fee
Less than $250,000 (Level i) 0.075% 0.075%
$250,000 to $1 million (Level ii) 0.07% 0.072%
$ane one thousand thousand to $five million (Level 3) 0.065% 0.069%
$5 one thousand thousand to $ten million (Level four) 0.06% 0.065%
Above $10 million (Level 5) 0.00% 0.05%

Deposit Fees

Crypto.com doesn’t charge whatever deposit fees for cryptocurrency avails, regardless of the money or network. Information technology also doesn’t charge a fee for U.Due south. dollar fiat currency deposits via ACH or wire transfer. To be eligible for a U.S. dollar fiat wallet that can receive ACH or wire transfers, U.S. users must have:

  • A Social Security number
  • A U.Southward. residential accost — not a P.O. box
  • A U.Due south. banking company business relationship

Withdrawal Fees

Crypto.com fees utilise to the withdrawal of cryptocurrencies from the exchange. These fees depend on many factors, including the status of the withdrawal network. Information technology’s a good idea to bank check Crypto.com for an updated list of withdrawal fees past cryptocurrency.

Some other factor that affects withdrawal fees is the type of cryptocurrency. Each money 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 greenbacks 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 fabricated with a credit or debit card for the outset 30 days. Users must live in an eligible jurisdiction and pass the exchange’s know-your-client verification to claim the offer.

How Do Crypto.com Fees Compare To Other Exchanges?

Fee structures tend to vary across cryptocurrency exchanges, and so comparing fees among them can be difficult. While well-nigh exchanges use the maker-taker model, a few of them charge apartment fees and don’t differentiate betwixt takers and makers.

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

Even so, hither’s a comparison of some fees betwixt Crypto.com and other leading exchanges:

Exchange Trading Fees Bitcoin Withdrawal Fees
Crypto.com 0% to 0.075% maker-taker fees 0.0001 BTC (BEP20)
Binance.US 0% to 0.1875% maker-taker fees (25% discount for Binance Coin) 0.0000083 BTC (BEP20)
Bittrex 0% to 0.35% maker-taker fees 0.0003
Coinbase 0.v% to iv.5% trading fee (or flat fee disclosed at time of buy)
0.50% spread fee
one% for withdrawals to cash (ERC-twenty)
Coinbase Pro 0% to 0.60% maker-taker fees 1% for withdrawals to cash (ERC-xx)
CEX.IO 0% to 0.25% maker-taker fees 0.0005 BTC
Gemini $0.99 to $two.99 transaction fee (for trades under $200)
1.49% transaction fee (for trades over $200)
Up to 0.001 BTC

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

For those who desire to begin investing in cryptocurrencies, a centralized substitution like Crypto.com is a good option. Although 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 that can all be accessed from the Crypto.com mobile app.

Communication

To minimize withdrawal fees, users should take time to compare coins ahead of scheduling a transaction. They should besides consider converting assets with high fees to lower ones earlier initiating a withdrawal.

Daria Uhlig contributed to the reporting for this commodity.


Editorial Note: This content is not provided by whatsoever entity covered in this commodity. Any opinions, analyses, reviews, ratings or recommendations expressed in this commodity are those of the writer alone and have non been reviewed, approved or otherwise endorsed past whatever entity named in this article.

Source: https://www.gobankingrates.com/investing/crypto/crypto-com-fees/

Check Also

Will Dogecoin Go Up In Value

Will Dogecoin Go Up In Value

On Dec. 6, 2013, Billy Markus and Jackson Palmer decided to combine their dearest of …