Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 250+ Altcoins (2024)

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Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 250+ Altcoins (9)

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Recurring Buy

Grow your portfolio automatically with daily, weekly, or monthly trades.

Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 250+ Altcoins (10)

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to secure blockchains.

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Choose from 21+ cryptocurrencies including Bitcoin and stablecoins.

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Trade bitcoin and other crypto with confidence on the world's fastest and most secure crypto exchange

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Frequently Asked Questions

Cryptocurrency is a digital or virtual currency that operates on distributed ledger technology called a blockchain and uses cryptography for security. It is decentralized and operates independently of a central bank.
Unlike traditional currencies, cryptocurrencies are not backed by a physical commodity or government, and their value is determined by market demand and supply. Cryptocurrencies can be used to buy goods and services, transfer funds, and trade in markets. Popular cryptocurrencies include Bitcoin, Ethereum, Litecoin, Ripple, and Cronos.
Many cryptocurrencies, like Bitcoin, are created through a process called mining, which involves solving complex mathematical equations to validate and record transactions on a blockchain. This mechanism is also called Proof of Work (PoW). Another consensus mechanism that has increased in popularity — as it is more energy efficient — is Proof of Stake (PoS). Instead of mining, PoS relies on network participants validating transactions. Ethereum, the second-largest cryptocurrency, uses this consensus mechanism.

Bitcoin is a cryptocurrency that operates on a peer-to-peer (P2P) network. It was created in 2009 by an unknown person or group using the pseudonym Satoshi Nakamoto. Bitcoin is the first and most well-known cryptocurrency, and it has gained significant popularity and value since its creation.
Unlike traditional fiat currency, which is controlled by central banks and governments, Bitcoin operates independently of any central authority. Transactions are verified and recorded on the blockchain, which is a distributed ledger that maintains a permanent and transparent record of all transactions.
Bitcoin can be bought, sold, and exchanged on various cryptocurrency exchanges, and it can be used to purchase goods and services from merchants that accept Bitcoin as a form of payment. The supply of bitcoins is limited to 21 million units, and new bitcoins are created through mining, which involves using specialized computer hardware to solve complex mathematical equations.
Bitcoin is known for its high volatility, and its value can fluctuate rapidly in response to market conditions, news events, and other factors. Many traders, including institutional investors, see Bitcoin as a store of value and a way to participate in the growing cryptocurrency ecosystem.

There are several ways to buy cryptocurrencies, including:

  1. Brokerage services: Crypto brokers allow users to simply buy and sell cryptocurrencies. A popular example is the Crypto.com App, trusted by over 80 million users. It is available at the Apple Store and on Google Play.
  2. Cryptocurrency exchanges: These are online platforms where users can buy, sell, and trade cryptocurrencies using fiat currency or other cryptocurrencies. They offer more complex functions compared to a crypto brokerage, adding trading instruments like crypto derivatives. The Crypto.com Exchange is an example of a popular crypto exchange.
  3. Peer-to-peer (P2P) marketplaces: These are platforms where buyers and sellers can directly trade cryptocurrencies without the involvement of a third-party exchange. This is also known as DeFi, short for decentralized finance. Multiple P2P crypto marketplaces can be accessed all in one app via the Crypto.com DeFi Wallet.

It is important to perform proper research and choose a reputable platform to buy cryptocurrencies. For instance, Crypto.com holds the highest security rating in the industry. In addition, it is advisable to store cryptocurrencies securely in a wallet like the Crypto.com App or Crypto.com DeFi Wallet.

To buy crypto, follow these general steps:

  1. Choose a crypto platform to use, like the Crypto.com Exchange or Crypto.com App.
  2. Create an account on the chosen platform by providing personal information and ID verification, also known as ‘Know Your Customer’ (KYC) procedures.
  3. Deposit fiat currency or another cryptocurrency into the newly created account. The Crypto.com App supports bank transfers, credit cards, debit cards, and cryptocurrency transfers to buy crypto, depending on region.
  4. Navigate to the ‘Buy’ section of the Crypto.com Exchange or App and select the crypto to buy.
  5. Enter the amount of cryptocurrency to buy and confirm the transaction.
  6. The crypto will be deposited into the account. From here, it can be transferred to other crypto wallets or converted back to fiat currency and paid out to a bank account.

It is important to perform proper research and choose a reputable platform to buy cryptocurrencies. For instance, Crypto.com holds the highest security rating in the industry. In addition, it is advisable to store cryptocurrencies securely in a wallet like the Crypto.com App or Crypto.com DeFi Wallet.

Users can buy Bitcoin from a cryptocurrency exchange, a crypto brokerage service like the Crypto.com App, or a peer-to-peer (P2P) marketplace like those found in the Crypto.com DeFi Wallet. Here are some general steps to buying bitcoin from an exchange or brokerage service:

  1. Choose a reputable cryptocurrency platform that supports Bitcoin trading. Popular options include the Crypto.com App and the Crypto.com Exchange.
  2. Create an account on the chosen platform and complete the KYC verification process, which may require providing personal identification documents.
  3. Fund an account using a bank transfer, credit/debit card, or other cryptocurrency, depending on region.
  4. Navigate to the ‘Buy’ section of the platform and select Bitcoin as the cryptocurrency to buy.
  5. Enter the amount of bitcoin to buy, or the amount of fiat or cryptocurrency to spend.
  6. Review the transaction details and confirm the purchase.
  7. Once the transaction is complete, the bitcoin will be deposited into the chosen account. From here, the funds can be transferred to other crypto wallets or converted back to fiat currency and paid out to a bank account.

It is important to perform proper research and choose a reputable platform to buy cryptocurrencies. For instance, Crypto.com holds the highest security rating in the industry. In addition, it is advisable to store cryptocurrencies securely in a wallet like the Crypto.com App or Crypto.com DeFi Wallet.

To trade cryptocurrency, follow these general steps:

  1. Choose a cryptocurrency exchange that supports trading. A popular option is the Crypto.com Exchange.
  2. Create an account on the chosen platform and perform ID verification, known as KYC (‘Know Your Customer’).
  3. Deposit funds into the newly created account using a supported payment method. The Crypto.com Exchange supports bank transfers and credit/debit cards.
  4. Navigate to the trading section of the platform and select the cryptocurrency pair to trade.
  5. Choose whether to buy or sell the cryptocurrency, and enter the amount to trade.
  6. Set the preferred price and order type. There are several types of orders, including market orders, limit orders, stop orders, and crypto options, which allow users to buy or sell at a specific price or under certain conditions.
  7. Submit the trade order and wait for it to be executed. Depending on market conditions, the trade may be filled immediately, or it may take time to be filled.
  8. Monitor trades and adjust strategies as necessary.

Here is an introduction to trading on the Crypto.com Exchange.
It is crucial to note that trading cryptocurrency carries risk, and it is important to trade only what you can afford to lose.

There are several ways to earn cryptocurrency, including:

  1. Mining: Cryptocurrency mining involves using specialized computer hardware to solve complex mathematical equations that validate transactions on a blockchain network. Successful miners are rewarded with newly minted cryptocurrency for their efforts.
  2. Staking/Lockups: Staking and lockups involve holding or locking up a certain amount of cryptocurrency in a wallet or on a platform to support the operations of the blockchain network. Stakers are rewarded with new cryptocurrency as a form of interest for their support.
  3. Trading: Trading cryptocurrency involves buying and selling cryptocurrencies on exchanges or other trading platforms. Those who have a good understanding of market trends and are able to make informed trading decisions can earn profits through trading.
  4. Airdrops: Airdrops are free distributions of cryptocurrency to users who meet certain criteria or participate in promotional activities.
  5. Crypto Projects: Some blockchain projects offer rewards or bounties for users who contribute to their development or community. This can include activities like bug bounties, testing, or content creation.

It's important to note that each method of earning cryptocurrency carries its own risks and rewards. It is recommended to carefully research cryptocurrencies and understand the process before buying. Learn more about the crypto market at Crypto.com University.

Users can earn rewards on their cryptocurrency holdings through various products that offer rewards-bearing accounts or lending services. Here are some ways to earn rewards on cryptocurrency:

  1. The Crypto.com App, Exchange, and DeFi Wallet all offer different ways to earn rewards on crypto, called Crypto Earn.
  2. Create an account on the chosen platform and deposit cryptocurrency holdings into the rewards account.
  3. Depending on the platform, users may earn rewards through lending their cryptocurrency to other users or by locking up their cryptocurrency for a period of time.
  4. Some products offer fixed reward rates (e.g., the Crypto.com Visa Card), while others may offer variable rates that depend on market conditions (e.g., the 'Earn' feature in the Crypto.com DeFi Wallet).
  5. Monitor rewards and adjust strategies as necessary.

It's important to note that earning interest and rewards on cryptocurrency carries risks, including fluctuations in market conditions that may affect interest rates. Make sure to carefully research and understand terms and conditions before depositing cryptocurrency.

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The purpose of this website is solely to display information regarding the products and services available on the Crypto.com App. It is not intended to offer access to any of such products and services. You may obtain access to such products and services on the Crypto.com App.

Please note that the availability of the products and services on the Crypto.com App is subject to jurisdictional limitations. Crypto.com may not offer certain products, features and/or services on the Crypto.com App in certain jurisdictions due to potential or actual regulatory restrictions.

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Crypto.com | Securely Buy, Sell & Trade Bitcoin, Ethereum and 250+ Altcoins (2024)

FAQs

Can you withdraw from crypto.com to a bank account? ›

Crypto.com users can withdraw fiat from the app by selling crypto to their CAD wallet and transferring CAD funds from this wallet to their bank account(s).

Is crypto.com legal in the USA? ›

Crypto.com holds a money services business license with U.S. FinCEN, so it's legal in the U.S. It also holds a money transmitter license in every U.S. state that requires it, except New York.

Does crypto.com report to the IRS? ›

Yes. In the United States, your transactions on Crypto.com and other platforms are subject to income and capital gains tax. If you've earned or disposed of crypto (ex. Sold or traded away cryptocurrency) during the year, you'll have a tax liability to report to the IRS.

How much does it cost to buy and sell crypto on Crypto com? ›

Crypto.com keeps it simple using the maker-taker model, with rates ranging from 0.0% to 0.75% for maker fees and 0.05% to 0.075% for taker fees. Investors pay additional fees for using credit cards.

Is it hard to withdraw money from Crypto com? ›

Withdrawals to an external address may take 2-3 hours to process. Withdrawals to the Crypto.com App are instant.

How much does crypto com charge for withdrawal? ›

Apart from standard miner fees, Crypto.com charges about $0,25 in the token you want to withdraw as withdrawal fees. In the case of a fiat bank transfer withdrawal, as of writing this guide, a $50 administration fee will be applied, but it may change in the future.

Is crypto com going to shut down? ›

On 14 November, Marszalek, the firm's CEO, assured users that the exchange was functioning as normal. On June 9, 2023, Crypto.com announced plans to shut down its institutional exchange in the United States by June 21, citing low demand from large financial institutions.

Is my crypto safe on Crypto com? ›

100% of user cryptocurrency assets are safely held and fully backed 1:1. We hold all customer assets deposited on our platform in institutional-grade reserve accounts on a 1:1 basis, meaning funds are responsibly backed by Crypto.com and accessible at customers' convenience.

Is crypto.com a wallet or exchange? ›

With the Crypto.com DeFi Wallet (a non-custodial wallet), you can send crypto to anyone around the world at your preferred confirmation speed and the network fee.

How much crypto to report to IRS? ›

You owe taxes on any amount of profit or income, even $1. Crypto exchanges are required to report income of more than $600, but you still are required to pay taxes on smaller amounts. Do you need to report taxes on Bitcoin you don't sell? If you buy Bitcoin, there's nothing to report until you sell.

Do you have to pay taxes on Bitcoin if you don't cash out? ›

If you're holding crypto, there's no immediate gain or loss, so the crypto is not taxed. Tax is only incurred when you sell the asset, and you subsequently receive either cash or units of another cryptocurrency: At this point, you have “realized” the gains, and you have a taxable event. You pay taxes on REALIZED gains.

How is Bitcoin taxed in US? ›

The IRS treats cryptocurrencies as property for tax purposes, which means: You pay taxes on cryptocurrency if you sell or use your crypto in a transaction, and it is worth more than it was when you purchased it. This is because you trigger capital gains or losses if its market value has changed.

Should I use crypto.com or Coinbase? ›

Final take

Coinbase and Crypto.com are both excellent cryptocurrency exchanges with services that will suit different types of customers. Coinbase charges higher fees, particularly on smaller trades. But its wealth of information and extremely easy-to-use trading platform may work well for first-time crypto investors.

Where does the money go when you sell crypto on Crypto com? ›

If you paid via the Crypto.com App, the funds will return back to your App wallet instantly, and the currency is based on the refund currency inside your Crypto.com App settings, with USDC being the default.

What is the best way to withdraw from Crypto com? ›

To make a withdrawal:
  1. Open the Crypto.com App and go to "Accounts"
  2. Open your Crypto Wallet.
  3. Press the "Transfer" button.
  4. Press "Withdrawal"
  5. Select "External wallet"
  6. Locate and select the whitelisted wallet address.
  7. Enter your passcode or confirm using biometric ID.

Can I withdraw money from Crypto com at ATM? ›

Where can I withdraw cash with my Crypto.com Visa Card? You can withdraw cash from almost any ATM worldwide that bears the VISA or VISA Plus logo. withdraw cash within Singapore. Please use this VISA ATM locator to help you find an ATM closest to your current location.

How to withdraw crypto to bank account trust wallet? ›

To withdraw money from Trust Wallet to a bank account, convert your crypto to Bitcoin on an exchange, then use services like Coinbase, BitFlyer, or Binance for direct bank deposit. Alternatively, use peer-to-peer platforms for trades. Remember, processing times, fees, and available currencies vary with each method.

How to withdraw USDT to bank account? ›

Withdrawing USDT from Binance to a bank account is done through the following process:
  1. Go to 'Fiat and Spot' on Binance and sell USDT for USD or another available fiat money.
  2. Once sold, go to the 'Withdraw' section and select the fiat option.
  3. Choose the bank account you want to transfer, enter the amount, and confirm.
Apr 18, 2024

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