Crypto.com Exchange: Everything You Need to Know
Crypto.com is one of the strongest projects in the cryptocurrency space. Formerly known as Monaco, the platform focusses on strong fiat on and off-ramp mechanisms. It has slowly but steadily upgraded its services to include a crypto card, staking services, investment services, loan services, and exchanges. Though still substantially centralized, we envision Crypto.com to be a global behemoth in the future.
Here’s a sneak peek into the Crypto.com Exchange platform!
Overview
The Exchange platform is sleek and intuitive. The landing page takes a user to the personalized page. This includes the Dashboard, Balances, and Order.
Dashboard
Balances
Orders
Then comes the most important differentiator for Crypto.com!
- Stake and Earn
- Syndicate
Stake and Earn
CRO staking
The ‘Stake and Earn’ functionality enables the users to get benefits if they stake their CRO coins on the Crypto.com Exchange.
- Earn rebates: Get 20% – 100% trading fee rebate when you pay fees in CRO.
- Earn interest: Stake CRO for 180 days or more and receive 20% APR daily.
- Crypto.com Pay benefits: Maximise Pay Rewards for each transaction paid in CRO.
Everything in the platform revolves around CRO. This makes the utility of CRO tokens stronger. Staking CRO results in multiple benefits. To receive a CRO rebate on trading fees, a minimum of 10,000 CRO must be staked.
Earn rebates – A user gets a relaxation on CRO staked in the range of 20% – 100% depending upon the amount of CRO staked.
Earn interest – The platform offers an annual interest of 20% if the users stake their CRO for 3 months.
Crypto.com Pay benefits – Crypto.com pay is a point of sale solution. Rewards are given to users who make CRO transactions.
Soft staking
One can get daily rewards with the crypto that he/she has on the Crypto.com Exchange. Major coins available for soft staking include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USDC, Ripple (XRP), Litecoin (LTC), etc.
CRO staking helps you to earn more interest. More details here
Note: Staking on the Crypto.com Exchange is different than in the Crypto.com App, and it cannot be transferred.
Syndicate
The Syndicate acts as a fundraising platform for those crypto projects who list their coins/tokens on the Crypto.com Exchange. CRO holders, who have staked CRO in the Exchange, will receive priority token allocation for these events at a discount.
Just look at the upcoming sale!
Exchange
The Exchange enables the users to see, measure, and analyze crypto trading value by selecting different time frames and other conversion metrics levels.
The Exchange also displays high and low values, last traded price, volume transacted in 24 hours along with percentage variation. Currently, the platform supports trading in three cryptocurrencies – BTC, USDT, and CRO with the following trading pairs.
The platform provides multiple trading tools for advanced users.
Trading
We will now do a trade to understand how it takes place on the platform.
- We are going with CRO-BTC pair (top right)
- Purchase 700 CRO
- The CRO (minus fees) shows up in the Balance.
- We will now choose a CRO-USDC trading pair
- We will purchase USDC using the CRO.
Voila!
Conclusion
Crypto.com will become a behemoth! It is focussing now on its exchange with initiatives like Syndicate. Stake and Earn is also a huge success. The liquidity of the platform can still be improved further. The trading pairs are slowly expanding. The platform is thus definitely worth taking a look at!
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Disclaimer
The information discussed by Altcoin Buzz is not financial advice. This is for educational and informational purposes only. Any information or strategies are thoughts and opinions relevant to accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided.
Do your own due diligence and rating before making any investments and consult your financial advisor. The researched information presented we believe to be correct and accurate however there is no guarantee or warranty as to the accuracy, timeliness, completeness. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. Copyright Altcoin Buzz Pte Ltd. All rights reserved.
