Let’s be straight from the start – there are lots of companies try to entice you to invest your money with them, and plenty of them are not worth your time. Crypto.com is definitely worth your time. While the sign-up bonus is not an immediate deposit, it’s not hard to unlock and is well worth the investment. On top of that, you will also then have access to one of the premier Crypto exchanges in the world.
Now we’ll dig into what Crypto.com is, how to use it, and why it’s one of the best options for buying and selling Crypto.
Crypto.com – Introduction
Originally under the name Monaco (hence the ticker for their older Crypto coin – MCO), the company acquired the coveted Crypto.com domain in 2018. Although the name has changed, the company and the services they offer have remained the same.
Crypto.com is first and foremost a Crypto exchange. They allow you to purchase, sell, and exchange a wide variety of different Cryptocurrencies using a wide variety of fiat currencies (e.g. US Dollars or Euros). On top of being an exchange, they also offer a wide variety of services, from earning interest on your held Crypto to being able to spend your Crypto in the real world using one of their branded Visa cards.
- Crypto Exchange – Buy, Sell, Swap
The primary function of the Crypto.com app is being able to buy, sell, and exchange a wide variety of different Cryptos. Their fees are some of the lowest in the industry, and unlike some exchanges, Crypto.com allows you to connect your bank account to make cash deposits. While this process is not as simple as Voyager, for example, it isn’t too hard. You just need to set up a transfer on your bank account to the account number that Crypto.com provides for you.
- Earn Interest
Crypto.com makes it easy to earn interest on the Crypto you hold in your account. If you “stake” 10,000 CRO coins, you can get a higher interest rate, but this comes out to around $1,500 at the time of writing, so you may not want to sink that much cash into one place yet. Without that 10,000 CRO stake, interest rates range from 1% (flexible term and non-stablecoins) to 10% (3-month term, stablecoins). The Crypto.com Coin (CRO) has higher interest rates, but I would recommend sticking to more commonly used and traded coins, like DAI or USD Coin.
- Crypto.com Pay
The Crypto.com Pay feature allows you to use your stored Crypto to buy gift cards at a significant discount, top up your phone bill, and send Crypto to friends instantly. Whenever you use the Pay feature, you will be rewarded with CRO coins as cashback (which, as we said above, you can earn up to 18% interest on!).
- Crypto.com Visa Cards
One of the flagship features that sets Crypto.com apart from the pack is its line of Crypto-backed Visa cards. There are different levels with different benefits (see all of the details HERE), but all of the cards function as pre-paid cards that allow you to top up using the Cryptocurrency of your choice. This essentially allows you to spend your Crypto directly anywhere that Visa cards are accepted – much more convenient than other exchanges! As an added bonus, most of the cards have perks like free Spotify, Netflix, and Amazon Prime memberships – as if the card wasn’t cool enough already!
Crypto.com Signup Bonus – $25 For Free!
One of the best parts about the Crypto.com app is the incredible sign-up bonus – the only other exchange that has a better sign up bonus is Voyager ($25 free for a $100 deposit). While Voyager gives a quick 25% return, Crypto.com is roughly a 22% return over 6 months – still far above most other sign up offers!
To receive the sign up bonus, you need to use the link HERE and use the referral code gmhrja7zga.
NOTE: If you don’t use the code above when signing up, you will NOT receive the sign-up bonus!
The bonus will be paid out in the CRO coin, so if you want to cash it out immediately, you will need to sell them in the app and withdraw your cash. You could also convert your CRO coins to another Cryptocurrency and hold it to earn interest (or just deposit the CRO) – the choice is yours!
You will have to create an account and go through a KYC (Know Your Customer) verification – this is just to comply with banking and fraud regulations, so don’t worry!
After your account has been created, you will need to follow these steps to receive your bonus (check the images below if you get lost and need more guidance):
1. Purchase and Stake 1,000 CRO Tokens
These tokens will be used for “staking” – this means they will be locked up for a set amount of time (in this case, 180 days). Once staked, these CRO coins allow you to unlock your Visa card and sign up bonus.
The easiest way to purchase tokens is with a credit or debit card, but if you don’t have a card that works (mine didn’t), you can set up a Fiat Wallet. This is essentially a bank account tied to your Crypto.com account – all you need to do is use the routing and account number provided to transfer cash into the account.
2. Reserve Your Visa Card
The card you will want to reserve is most likely the “Ruby Steel” card – it also requires a 1,000 MCO stake, so you don’t need to buy any extra to get the sign-up bonus. As an added perk, this card will refund your Spotify subscription – even more free stuff!
3. Get Your Bonus!
Your $25 of CRO are now unlocked! You now have access to one of the best centralized exchanges in the Crypto world and $50 to use as you wish – it’s hard to find a better deal than that (save for Voyager, with instant 25% return!).
Do keep in mind that the staking term is 180 days, so don’t use money you may need later to open your account – as with all Crypto investing, only use as much as you’re willing to lose.
We’re always here to help – leave a comment below and we’ll do our best to help you with any issues. As always – Happy Cryptoing!