 What is Crypto.com? Crypto.com is a cryptocurrency platform that's basically a one-stop shop. It allows you to store, transfer, and exchange between 90 plus cryptocurrencies and over 20 fiat currencies. Crypto.com also offers a Visa card. They also offer a way for you to earn interest on your cryptocurrency holdings and they offer cryptocurrency lending using your crypto as collateral amongst other things. Is Crypto.com worth your time? Let's find out. Hey what's up Jay here and welcome to Bitcoin Daily bringing you guys the best tips, tutorials, and ideas to help you guys become profitable and successful traders. The goal of this channel is to empower you guys with the knowledge and resources to help you get to that next level. So if you guys are new here make sure to hit that subscribe button and turn off the notification bell. Also make sure to like and share this video as we continue to spread cryptocurrency knowledge and mass adoption. Alright so let's go ahead and look at Crypto.com. The first thing we're going to look at is a quick pros and cons list that I've created from my experience on the app. Let's start with the pros. The first thing that it does have that I liked was it has quick verification. So once you sign up for an account on Crypto.com the first thing you will have to do before you can start using it is verify your identity. When I verified my identity it took about five to ten minutes so it was a very quick and easy process. The second pro is that they have 24 seven customer support. Now I personally have not used the customer support and I have read some reviews saying that the customer service has not gotten back to the people. But here at the top right hand corner if you guys see the top right hand corner you just click that and you can see right here that you can start a chat instantly and basically you know ask for whatever it is that you know whatever questions you have. Now I don't I don't know their exact working hours or if there are any working hours again I haven't used it but it does have 24 seven customer support there where you can send them a message to next it is available in the United States it's available in the UK in Europe Canada and Singapore. So next is that you can buy and sell over 90 plus cryptocurrencies including Bitcoin at the real exchange rate. So if we look at the app here you can see that we can basically buy any of the top coins right. So for example if I wanted to buy let's say I wanted to buy Tezos just go ahead and click on Tezos and then at the bottom you see that it has the buy the buy XTZ you can also see here you have the chart here you can look at the daily weekly monthly you know the usual stuff then here you have some data on the crypto currency that you're currently looking at here you can see the different exchanges where you can buy cryptocurrency here's info on the cryptocurrency and then of course if you hit buy that's where you can buy the cryptocurrency. Another pro is that if you do use any of the visa cards provided by crypto.com is that you do not have any monthly fees as you guys can see here you don't have monthly fees you don't have annual fees you don't have delivery fees and if you look at some of these rewards here on one of the visa cards you can see that you can get 8% back and you get 100% back if you use Spotify Netflix or Prime with this card you get access to a airport lounge you get 12% crypto.com coin and stake rewards 10% back at Expedia and Airbnb and 2% extra earnings in crypto earn so of course when you're doing a pros and cons list there's always cons as well so first thing that popped out to me when I was looking at crypto.com was its overall rating on trustpilot.com as you guys can see here on trustpilot you guys will see that crypto.com has a poor poor reviews right so the reviews they have 753 views and their star rating is a 2.3 now if we go through some of the reviews you will see that there's always some good ones but apparently there's a lot more bad ones than good ones you see that this guy is saying that he got cheated out of some money and that no response on customer service if we keep looking you will see there's still a lot more pretty good decent reviews now of course we don't know how true any of these are and you have to keep and you always have to keep in mind that usually people that are happy with the service don't really leave reviews it's usually people that are upset now the next con on our list is that you need to stake a lot of their own coin to unlock the highest and best rebates right so for example if we're looking at this card right here if we take off the CRO staking we just lost everything so basically at this point we only have 2% back on card spend and airport lounge access right so you can see that without the staking basically you have none of the benefits and basically none of the rewards really and in order to receive this card you need to purchase and hold five million CRO tokens for 180 days in order to be eligible for this specific card which is their most prestigious card right so let's go to the most basic card so midnight blue it gives you 1% back on card spend and this is the only one that you don't have to hold anything for right so there's really no rewards here once you go up to ruby steel then you can start getting rewards this one gives you 2% back and 100% back on Spotify but in order to be eligible for this you have to purchase and hold 500 5000 CRO tokens for 180 days all right so a little back story on crypto.com crypto.com was founded back in June 2016 by these four gentlemen right here in June of 2017 they raised $26.7 million from their Monaco initial coin offering they're headquartered in Hong Kong and currently have a team of about 700 people worldwide crypto.com was previously known as Monaco MCO but rebranded in July 2018 after the expensive acquisition of the crypto.com domain they recently announced that they crossed 10 million users around the world after hitting 5 million just four months before so crypto.com is best known for its visa card but they do have a range of products so as you guys know they have the visa card where you can spend anywhere that visa is accepted they have the crypto.com app where you can buy and sell crypto currencies at real exchange rates they have crypto pay where you can pay friends and family and buy gift cards and all sorts of things they have crypto earn where you can earn up to 12% interest on your cryptocurrency deposits they have crypto credit where you can deposit cryptocurrency and get credit to spend on your crypto.com visa card they have the crypto.com exchange where you can trade popular cryptocurrencies on your desktop with low trading fees and they have the crypto.com DeFi wallet all right so first let's talk about the crypto.com visa cards we already kind of spoke and covered them as you guys know with visa you can basically deposit crypto into it and then you're able to use it anywhere that visa is accepted there's a range of different cards as you guys can see here that gives you different awards so the higher the range obviously the better the rewards but also the more unrealistic it is that the normal average person is going to have the card for example the top card that they're offering you know unless you're staking $800,000 worth of their CRO token you cannot get this and you have to stake that for six months you know and go through the ups and downs of the shitcoin and hope you know pray to god that everything goes well just so that you can get these rewards so this is not worth it and if you stop staking after that point then you basically lose all rewards so this one even this one is still unrealistic they want you to stake $80,000 worth of their shitcoin it's not gonna happen the green one here it's a little bit more realistic you know $8,000 you know that's not bad I mean it's not good but it's doable for the average person but I get this would be the most realistic one the red one which you only have to stake about $800 which is 5,000 CRO for 180 days and you'll be able to get Spotify for free which is kind of cool and you get 2% back on whatever you spend with the card the 2% back is a return to you with CRO which is of course their own token and if you don't want to stake or hold any of their tokens then you could just get this midnight blue and receive 1% back on whatever you spend now these visa cards are available in the United States the United Kingdom Europe Canada and Singapore excluding the staking requirements it is free to get your card and to have it delivered and it's free to load money onto your card there are no domestic transaction fees there's also no monthly management fee but you will be charged about $5 if you don't use your card at least once over a 12 month period so if you guys are looking to buy cryptocurrencies with the crypto.com app they do charge fees but for new users the fees will be waived for the first 30 days then everything else if you're using a credit or debit card your fees vary depending where you are but it's between 2.99% to 3.99% so to buy any type of cryptocurrency on the app you just have to click on the app then you hit buy and then it asks you you know if you want to buy with credit card with a crypto wallet or with a fiat wallet so it's pretty simple now I have not deposited from a credit card using credit card or debit card and I haven't deposited using a bank my bank either but I did read that if you use your bank it is free you don't have to pay any fees when you're depositing money from directly from your bank account so as you guys already know there's over 90 different cryptocurrencies that are available and supported on the crypto.com app crypto.com also supports over 20 different fiat currencies so now let's go ahead and talk about crypto earn which is really what I'm most interested in as you guys know I've done a few videos on block 5 so we're going to compare block 5 to crypto.com's earning platform so to get there on the crypto.com app you're just going to hit that middle button and then click on under finance where it says earn and that should take you to this page where it says crypto earn on the top so you can see this says earn up to 12% on your crypto assets earnings will be credited to your wallet every seven days earnings paid in the same currency as your deposit but then comes the tricky part if you look here you will see that with 5000 or less CRO this drastically changes you so basically you have to hold for this to be worth it for you to use it you have to hold 50 000 or more CRO you basically have to be staking their coins which is over 8 000 that you're gonna have to hold then the second twist to this is that you have terms here so if you go down in terms like I showed you guys earlier let's say I want to do just I want to be flexible I want to be able to you know take out my coins at any time look how drastically this changes look at Bitcoin 2% if I use flexible let's see if I take if I'm not staking it's still 2% oh yeah actually so if I'm flexible it's it's a 2% and if I'm not staking at all it's one and a half percent yearly so right off the bat that is trash right compared to BlockFi BlockFi gives you 6% you don't have to hold any of their coins right so if I lock up on my crypto for one month with them with without staking their coins then on Bitcoin I'm getting a 3% return if I lock it up for three months without staking any of their coin then they reach my Bitcoin will return four and a half percent now if you're in USD you can get a 10% return here in USD die gives you a 10% return Paxil standard true GBP AUD so a lot of the fiat currencies gives you give you a 10% return without staking with a three month let's try with a flexible let's see what that looks like so then it drops down to 6% for the fiat currency the stable coins right so basically you have to stake $8000 and lock up your money for three months in order to get the most out of this platform which in stable coins gives you a 12% return if you stake $8000 of their own coin and lock up your money for three months guys at least for me personally I don't want to have to stake $8000 of my money in their coin and then lock up my money for three months I just I don't want to do that why would I do that I could do it on BlockFi without locking up my money for any period of time and without having to stake any type of coins so BlockFi definitely wins in that point so when it comes to interest and dividends and making making money earning money yearly from the crypto that you're already holding BlockFi wins in what I believe is a landslide all righty guys I hope you guys are enjoying this video so far next we're about to talk about their loan program where you can use your crypto as collateral then we're gonna take a look at their crypto exchange which you can use on your desktop and then after that we will end our review with our thoughts if you guys are enjoying this video so far make sure to subscribe and turn on that notification bell also don't forget to hit that like button and if you have any questions about anything that we have covered in this review drop it in the comments we'll be more than happy to get back to you guys with an answer so let's talk crypto credit crypto credit is crypto comms loan program where basically you can use your crypto as collateral to borrow money so you can borrow up to 50% of your crypto collateral so if you needed to borrow $1,000 you would need to post up $2,000 as collateral so the coins that you can deposit as collateral as you can see here is CRO, BTC, ETH, LTC, XLM, EOS, ADA, ALGO, or ATOM, VT, LINK, WBTC, XTZ, and DOT so you need to so if you wanted $5,000 you would need to deposit $10,000 then you would receive the $5,000 in a stable coin so then comes the twist again though not only do you have to have $10,000 as collateral but you have to hold $8,000 worth of CRO or more so that you can get an 8% interest rate right because if you don't then you're paying a 12% interest rate and at that point it just doesn't make sense to me if you do the same thing using BlockFi without having to stake any coins then it's a 9.75% interest rate if you're using an LTV of 50% but one thing you can do with BlockFi that you cannot do here you can lower the LTV rate on BlockFi which is not possible with crypto.com so on BlockFi I can use an LTV of 35% which would give me a 7.9% interest rate which is better than this one while staking $8,000 or I can use a 20% LTV which gives me a 4.5% interest rate so these are all things to keep in mind if you wanted to do this again I'm not doing it on crypto.com if I do use it for any reason now crypto.com does have a desktop based exchange trading exchange where you can trade you can even trade with margin derivatives and it has all sorts of stuff I will say that I've never used this and I don't know if it's a separate account or separate logins I'm not sure but they do have a lot of coins available here for basically everything right so I've never used this so I don't have too much to say about this but they do pretty good on fees here and obviously you know the same way that you need to have be staking their own token in order to get discounted on fees if you do stake any other tokens they give you discounts here for using their own fees so that's a plus for this exchange other than that I don't know much about the exchange I've never used it so bottom line guys the crypto.com app is a pretty good user friendly easy to use app where it gives it's basically a one-stop shop for everything crypto it gives you everything from trading cryptocurrencies being able to buy and sell cryptocurrencies from your bank accounts at no fees or very low fees it gives you access to a lot of out coins that I know in depending what country you're in you might have trouble accessing they offer a visa debit card which you can use thing I don't like about we already spoke about what I don't like about it but if you guys are into that then you guys can definitely use it and they have a earning platform where you can earn interest on the cryptocurrency that you hold all in all it's not bad at all you know again my the major things that pop out in my mind is I personally use it for out coins and I don't mind using it for that other than that I do not use crypto earn because it's just not worth it to me a block fight is way better with that I do not use their visa cards because I don't care first of all I don't care for debit cards I don't want to spend my crypto but if if you're you want you're looking for ways to spend crypto then that's definitely a great way to do it you can just get their basic cards for their higher reward cards you need to stake way too much of their own tokens in order to for it to be worth it so that's just not something I'm looking at or interested in so that's basically it guys I would give it if I had to choose I would give it about a three stars out of five just because they lost a point on their crypto earn from me and they lost a point on their visa cards from me as well they just make it way too difficult overall trying to force you to hold their tokens in order to benefit from being able to basically use the product so you know there's just there's other services out there where you can get more without having to risk money holding a coin so that they get a three out of five for me that's it guys that is the review on crypto.com I hope you guys have enjoyed this video I went through a little bit of trouble trying to get this my phone to work in sync with my computer while also recording everything so I hope everything went through clearly and I got I was able to get the points that I was saying across and that it's understandable to you guys but that's pretty much it guys I hope you guys enjoyed this video if you're new here make sure to hit that subscribe button and turn on that notification bell also guys don't forget to like the video if you have any questions about anything that we covered anything that I might have missed go ahead and drop it in the comments and I'll be more than happy to get back with you with an answer. Alrighty guys tomorrow I will be doing a live stream we'll be talking Bitcoin and outcoins so tune in for that as always guys peace and love