What Crypto Exchange Offers The Best Referral Programs
OFFERED BY CRYPTO.COM: If you are over this link Register and use 1,000 CRO tokens (currently around 154 USD), you will receive CRO tokens worth 10 USD free of charge from Crypto.com. If you wager 5,000 CRO tokens you will get $ 50, and if you wager 10,000 CRO tokens you will get 100 USD.
Crypto.com Exchange Review
Crypto.com Exchange is a cryptocurrency exchange headquartered in Hong Kong. It was launched by Crypto.com in 2019.
You can imagine the crypto.com domain wasn't cheap ... In fact, the domain was registered back in 1993 by a cryptographer named Matt Blaze. He worked at AT&T in the area of security for multi-computer systems. Allegedly, Matt anticipated early on that cryptocurrencies would be a big part of the monetary system in the future. In 2018, the domain was acquired by the company that now operates Crypto.com Exchange (the purchase price is unknown). As already mentioned, the exchange itself was opened in 2019. It offers trading in 29 different crypto currencies.
Most crypto traders believe that a desktop provides the best conditions for trading. A computer has a larger screen, and larger screens can simultaneously display more of the important information on which most traders base their trading decisions. The trading chart will also be easier to display on it. However, not all investors need desktops to trade cryptocurrencies. Some prefer to do crypto trading on their cell phone. If you are one of these traders, you will be pleased to know that the Crypto.com Exchange trading platform also works as an app. You can download the app from both the AppStore and Google Play:
Crypto.com Exchange Fees
Crypto.com Exchange trading fees
Every time you create an order, the exchange charges you a trading fee. The trading fee is usually a percentage of the value of the trading order. Many exchanges share between Buyers and Providers. Buyers are those who accept an existing order from the order book. Providers are those who add orders to the order book and thereby create liquidity on the platform.
This platform charges buyers a maximum of 0.16% per trade. These fees are roughly equivalent to the global industry average of centralized exchanges. In the past, the industry averages were around 0.20-0.25%, but the new industry average is now around 0.10-0.15%. Regardless of what you compare yourself to, 0.16% is perfectly fine. The platform also offers even better trading fees for providers who only pay 0.10% per deal.
Crypto.com Exchange also offers its customers discounts on trading fees based on the transaction volume during the previous 30 days. The more you trade, the lower your trading fees will be. Here you can see the available VIP levels and discounts on trading fees; where the blue columns assume that you are staking at least 5,000 CRO tokens (at the time this review was written, September 30, 2020, this amount was equal to $ 763):
As can be seen in the table above, if you are a top vendor (VIP-1 maker) you get paid to trade. VIP 1 Makers receive 100% of their buyer fees plus 0.005% profit back if they have used CRO tokens in the previous 30 days and trade in crypto currencies to the specified extent. This is a special promotion called stake-to-take, an action that Crypto.com Exchange is taking right now to encourage new VIP1-level users to trade more on the platform. Users can even earn up to 0.1% on buyer fees, but that requires a fairly large amount of CRO tokens (at the time this review was written, that was around $ 763,000).
Crypto.com Exchange Withdrawal Fees
Crypto.com Exchange charges a withdrawal fee of 0.0004 BTC per BTC withdrawal. This fee is slightly below the industry average. The current global industry average is just over 0.0006 BTC per BTC payout, making the offering from Crypto.com Exchange competitive in this regard as well.
Three distinctive features: Referral Program, the Syndicate, and Staking
Crypto.com Exchange Referral Program
Like many other exchanges, Crypto.com Exchange has a referral program, and this is how it works:
When you sign up at Crypto.com using this referral link, you will receive a $ 50 CRO sign-up bonus, provided you also use at least 5,000 CRO tokens and successfully pass the advanced level KYC verification. Users wagering 1,000-4,999 CRO will receive a $ 10 sign-up bonus if they meet the same conditions. The sign-up bonus is instantly credited to your wallet and you can trade with it.
As soon as you register on the exchange, you also become a recruiter yourself (as an existing user) and you can share your referral links on your own platform to earn referral bonuses. The referral bonus in CRO can be up to $ 2,000 in value, depending on how many CROs the recruiter (i.e. the user you invite) wagers. The Recruiter will also have the option to earn a commission on trading fees of up to 50% of the referrer's net trading fees for 12 months.
The Syndicate is an interesting feature of the Crypto.com Exchange. It is Crypto.com's fundraising platform that offers crypto projects the opportunity to have their tokens listed on the Crypto.com Exchange. Users who own coins from Crypto.com (CRO) can then participate in the Syndicate and have the chance to receive tokens with up to 50% discount if they participate in the Crypto.com exchange with at least 5,000 CRO. Users who use 10,000 CRO or more for 6 months can even enjoy 20% APR per day. The more you invest, the more you earn. Users who use more CRO will enjoy a better interest rate through another bet option, so-called soft staking on the exchange platform.
What is staking? Staking means that you are actively involved in the validation of transactions, a so-called Proof of Stake Blockchain (PoS). To become a validator, you need to "stake out" a certain balance of the cryptocurrency you are validating. In return, you will receive remuneration (staking bonus). At Crypto.com Exchange, you can easily participate in staking of up to 20+ cryptocurrencies and receive up to 5% in annual staking rewards.
Crypto.com Exchange trading view
Every trading platform has a trading view. The trade view is that part of the exchange's website where you can see the price chart of a particular cryptocurrency and its current price. Usually there are also buy and sell boxes where you can place orders in relation to the cryptocurrency in question, and on most platforms you can also view the order history (i.e. previous transactions in the cryptocurrency in question). Everything in the same view on your desktop. There are, of course, deviations from what we have just described. This is the trade view on Crypto.com Exchange:
It is entirely up to you to decide whether you like the above trading view. Finally, there are usually many different ways that you can change the settings to personalize the trading view according to your own personal preferences.
Deposit Methods and US investors
At Crypto.com Exchange, you can deposit assets on the exchange in many different ways, by electronic transfer, debit card and of course simply by depositing existing assets in cryptocurrencies.
Since fiat currency deposits are possible on this trading platform, the Crypto.com Exchange is considered an "entry-level exchange", i.e. an exchange from which new crypto investors can begin their journey into the exciting crypto world.
According to the information we received from the exchange itself, US investors are not allowed to trade through the Crypto.com Exchange. However, trading in cryptocurrencies is possible in 49 US states via the Crypto.com mobile app.
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