Crypto.com is one of the best-known brands in the crypto industry. Crypto.com registration begins by downloading first the Crypto.com mobile app. In order to use the Crypto.com app, you must go through the KYC process, i.e. personal data verification.
It is easy to deposit euros into a Crypto.com account with a SEPA transfer. There are more than 200 different cryptos available for purchase at Crypto.com. Crypto.com does not charge any fees for purchases made in euros. It’s also possible to deposit cryptos into your Crypto.com account.
The Crypto.com app is used to activate and manage the Visa debit card. The cashback received with the Visa card is taxable income. Our team has Crypto.com experience for many years. Crypto.com can be recommended to all investors who want to have a debit card and a wide selection of cryptos.
General information about Crypto.com
Crypto.com is one of the best-known brands in the crypto market. The company was launched in 2016 under the name Monaco Card. Kris Marszalek has been the CEO and figurehead of the company since the beginning.
Crypto.com’s main product has long been the Visa debit card and its associated token. The basic level card has always been free, but users have been able to get more benefits (like cashback) by staking the Crypto.com token.
Both the Visa card and the token (MCO) were called initially Monaco. In 2018, a major re-branding of Crypto.com took place. The company also expanded to building its own blockchain. The smart contract platform is now known as Cronos.
If you want to learn more about Cronos and its native token CRO, read our in-depth Cronos beginner’s guide. This article is all about the Crypto.com app and the Visa card.
The Crypto.com brand took off during the crypto boom of 2021. The company launched a huge advertising campaign starring Matt Damon and paid $700 million for the naming rights to the home stadium of the NBA club La Lakers. Crypto.com was also the main sponsor of the 2022 FIFA World Cup.
Crypto.com has become a popular app to buy, sell and store cryptocurrencies. The app is also used to manage the popular Visa card. Crypto.com has more than 10 million users globally.
Crypto.com registration
Crypto.com registration begins by downloading first the Crypto.com mobile app. A browser-based version is not available. Start the registration process by clicking the link below.
Choose either the App Store or Google Play icon, depending on the mobile device you are using. Download the app only through Crypto.com to ensure you get the genuine and original app.
Once you have downloaded Crypto.com to your mobile device, open the app. You will have the following options on your screen: Sign Up, Log In, and Invited?
We recommend entering the following invitation code: dcii0ry91
With the invitation code, both AboutBitcoin and you will receive $25 worth of CRO tokens if you apply for a Ruby Steel card (or higher). You can also activate the referral code after registration by clicking App Settings -> Referral Code in the app. This has to be done within five days after registration.
Next, click on the Sign Up button. You will be asked to confirm your email address.
Enter a valid email address, accept the terms and conditions, and click Continue. You will receive a confirmation link in your email, which you need to click on. If the email does not appear immediately, check your spam folder.
Note: The email must be opened on the mobile device on which you are using for registering.
You will then be forwarded back to the Crypto.com app to complete the registration. This is done by entering your phone number and confirming it via SMS.
Verification of identity
In order to use the Crypto.com app, you must go through the KYC process, i.e. personal data verification. This is a standard process in all crypto exchanges that enable bank transfers.
After your email and phone number are confirmed, the app will ask you to enter your personal information. Enter all information accurately to avoid problems during the verification phase.
Identity verification (KYC) is a standard process in all cryptocurrency exchanges. You will usually need either a valid passport or a driving license to verify your data. After this, the Crypto.com app will also ask you to take a selfie. The KYC process should normally take around five minutes.
Finally, the app will ask you to create a six-digit passcode. This will be used for logging in and confirming transactions. Choose a passcode that you can remember with 100% certainty.
If you are going to apply for the Crypto.com Visa debit card, you will also need to confirm your address. This can be done, for example, with an electricity bill or similar document.
Crypto.com euro deposit and withdrawal
It is easy to deposit euros into a Crypto.com account with a SEPA transfer. Please note that you can withdraw euros from your account only after you have made one deposit.
Click the Transfer button on the main page of the app.
You will be presented with the options Deposit and Withdraw. Select Deposit from the two. Next, the app will ask you to select either Crypto or Fiat. Select Fiat.
You can now create a new euro account for your transfers. Once the account has been created, copy the account number and make a deposit from your online bank. The account is personal, so you don’t need a separate reference number when depositing. If your bank requires a reference or a message, you can write in the message field “Crypto.com deposit”.
Deposits arrive as SEPA transfers and usually appear within a couple of hours. However, the first deposit takes a little longer.
If you want to withdraw euros from your account, select Transfer again from the app’s main page (Home). Next, click on Withdraw, select Fiat, and follow the on-screen instructions.
How to buy and sell crypto
There are more than 200 different cryptos available for purchase at Crypto.com. In addition to the most well-known cryptocurrencies, Crypto.com also offers a wide selection of rarer coins.
Crypto.com’s selection includes the following popular cryptos:
- Bitcoin (BTC)
- Ethereum (ETH)
- BNB (BNB)
- Tether (USDT)
- USD Coin (USDC)
- Cardano (ADA)
- Dogecoin (DOGE)
- Polygon (MATIC)
- Cronos (CRO)
Once you have deposited euros into your account, click on the Trade button on the home page. Select Buy from the Buy and Sell options. A list of cryptocurrencies appears on your screen.
Use the search function to find the cryptocurrency you want. Then click on the relevant line. Next, you will be presented with three options to complete your purchase: Credit Card, Crypto Wallet or Fiat Wallet.
If you want to buy cryptos directly with a credit card, select the first option and add your new card details. The fees are quite high for credit card purchases, so we do not recommend this option.
The Crypto Wallet option is ideal if you want to buy cryptocurrency with another crypto. For example, if you want to exchange bitcoins in your account for Ethereum. If it’s a less common currency, you may not be able to find an exchange pair. In that case, sell your coins for euros first.
With the Fiat Wallet option, you can buy cryptocurrencies with the euros in your account.
If you want to sell crypto, click Trade from the Home page and choose Sell. Select the cryptocurrency you want to sell from the list. On the Sell page, you can choose the destination, i.e. whether you want to sell the currency for euros or to convert it to another cryptocurrency.
Crypto.com fees
Crypto.com does not charge any fees for purchases made in euros. Purchases are still not totally free of charge, because Crypto.com takes a spread from the used exchange rates. The customer’s purchase price may be slightly higher than the market price.
In any case, Crypto.com’s fees are very competitive compared to many popular marketplaces. Like euro purchases, purchases made with cryptos are cost-free and include a spread.
The table below shows the fees charged by Crypto.com for the most common actions.
| Action | Fees |
|---|---|
| Account registration | No fees |
| Using the account | No fees |
| Bank deposit | No fees |
| Bank withdrawal | No fees |
| Crypto deposit | No fees |
| Crypto purchase by card | 2,99 % |
| Crypto purchase by fiat | No fees (spread) |
| Crypto purchase by crypto | No fees (spread) |
We don’t recommend using a debit or credit card for purchases. Card purchases are costly in all exchanges. SEPA transfers are fast these days, so you should prefer a bank deposit. No fees are charged for bank transfers.
You can find the up-to-date fees in the application settings. You can access the Settings page by clicking on the gear icon with an arrow in the upper left corner of the Home view.
From the Settings page, it is possible to change various account details and enable security-enhancing settings such as two-factor authentication. Scroll down the page to find the Fees & Limits section. On this page, you will find all the fees as well as any limits.
The fees charged for cryptocurrency withdrawals depend on the cryptocurrency used and network congestion. Each cryptocurrency has a minimum and maximum amount for withdrawals and purchases & sales.
How to deposit and withdraw crypto
It’s also possible to deposit cryptos into your Crypto.com account. The Crypto.com app works perfectly as a cryptocurrency wallet. You can deposit cryptos in your wallet and withdraw them to an external wallet. If you want to learn more about different wallets, check out our crypto wallet guide.
Click Transfer in the Home view of the app – just like you did for the euro deposit. Next, select Crypto. You will see a list of all cryptocurrencies supported by the app. Use the search function to find the right cryptocurrency and then click on the relevant line.
The next screen that appears is the deposit page. Here is an example of a Dogecoin.
Be very careful at this point to choose the right network! This is done from the line indicated by the arrow. For example, Dogecoin can be deposited also via the Cronos and BSC networks. If you send coins to the wrong network address, they may be lost forever.
If in doubt, ask Crypto.com Support for help or make a very small test deposit first.
To withdraw cryptocurrencies, select Transfer and Withdraw, then External Wallet. You will then be presented with a Withdrawal Whitelist screen, showing all the addresses that have been created.
In the top right corner, click the + button indicated by the arrow and select Wallet Address. Search the list for the cryptocurrency you want to use. Again, be very careful to add the correct wallet address to the correct network!
You can also withdraw funds to the Crypto.com Exchange or Crypto.com DeFi wallet.
Crypto.com Visa debit card
The Crypto.com app is used to activate and manage the Visa debit card. For many users, the Visa card is the main reason to open a Crypto.com account. It’s no surprise because Crypto.com is best known for its Visa cards. It is the most popular “crypto card” provider on the market, along with Binance.
There are five different cards available. The basic card (Midnight Blue) is completely free and you can order it easily via the app. You can see all Crypto.com cards and the most important features in the table below.
| Card | Required staking | Cashback | Max cashback | Spotify | Netflix |
|---|---|---|---|---|---|
| Midnight Blue | 0 € | No cashback | No cashback | Not included | Not included |
| Ruby Steel | 350 € in CRO | 1 % | $25 / month | 6 months | Not included |
| Royal Indigo & Jade Green | 3500 $ in CRO | 2 % | $50 / month | 6 months | 6 months |
| Frosted Rose Gold & Icy White | 35000 $ in CRO | 3 % | Unlimited | Included | Included |
| Obsidian | 350000 $ in CRO | 4 % | Unlimited | Included | Included |
The cards also come with other benefits such as access to airport lounges. You can find up-to-date benefits and terms on the Crypto.com website.
The previously mentioned bonus also comes into play here. When you use the invitation code dcii0ry91 during registration, you will receive $25 in CRO tokens if you order at least a Ruby Steel-level card. It requires staking of the CRO token for 350 euros.
The video below shows how to sign up for a Ruby Steel card.
Make sure you have at least €350 worth of CRO tokens in your wallet before starting this process. Next, click on Cards in the Home view (bottom right corner). Select the Ruby Steel card and follow the on-screen instructions. You will finally be asked to stake the CRO tokens. They will be locked for 180 days.
You can un-stake your CRO after 180 days if you wish, but you will also lose the Ruby Steel benefits.
Crypto.com and taxes
The cashback received with the Visa card is taxable income. You should also remember that using cryptocurrencies as a means of payment is very expensive in Norway. This is because cryptocurrencies do not have the status of an official means of payment. The same applies to almost all other countries in the world.
Every time you sell cryptos from your Crypto.com wallet to euros and top up the card balance you create a taxable transaction. All these transactions must be recorded and you have to calculate capital gains from them.
We recommend using crypto tax software to keep track of transactions. Divly is a good option because it also supports Crypto.com transaction reports.
You can download a CSV file containing transactions from the Crypto.com app and import it to Divly. You’ll find information about transactions and transfers by clicking Accounts in the main menu and then the clock image in the upper right corner. This page shows all transactions. Finally, click on the arrow image in the upper right corner to create an export file.
If you have at least a Ruby Steel level card, you must also remember cashback. It is paid with the CRO token. This cashback is taxable income.
Crypto.com experiences
Our team has Crypto.com experience for many years. In this section, we describe our Crypto.com experiences of using the card and the mobile app.
The Crypto.com mobile app is very easy to use. It has gained popularity, particularly among novice investors, for a good reason. The main functions are logically placed, and buying cryptos is easy. Cryptocurrency transfers to and from the app are also processed quickly.
Advanced trading tools, i.e. a cryptocurrency exchange, are missing from the mobile app. For this, Crypto.com has created Crypto.com Exchange. This is a separate exchange built for active traders. The Crypto.com app is best suited for the average investor who doesn’t use futures, leverage, or advanced trading tools.
The Crypto.com card works like any other debit card. The cheapest option is completely free, meaning there are no monthly or annual fees. Remember to activate the card first after receiving it.
Crypto.com’s Visa works in all restaurants, shops, gas stations, etc. that accept Visa and Mastercard cards. It can be used just fine to make daily purchases instead of your own bank’s debit card.
Our team members have experience using Visa in many different countries and also in small shops. Crypto.com Visa seems to be working even in places where, for example, Revolut is not accepted.
Please note that Crypto.com’s app does not directly convert cryptos into euros. If you only have cryptocurrencies in your wallet, they must first be sold in euros before the debit card can be used. Of course, you can use the card without cryptocurrencies and make euro deposits into the app from your bank account.
Crypto.com’s Visa is a functional card in every way. Only negative thing is that Crypto.com weakened the terms of the card in 2022 and for example removed the cashback from the free card.
Summary of the Crypto.com review
Crypto.com can be recommended to all investors who want to have a debit card and a wide selection of cryptos. It is a versatile app that is also easy to use.
Crypto.com also stands out in terms of customer service. We have received assistance many times in a couple of minutes either via chat or a private message on the Twitter account. User support is really fast when you consider that Crypto.com serves more than 10 million customers.
You can also download a separate DeFi Wallet app. It is a wallet built by Crypto.com, but completely independent. There you’ll have 100% control over your own funds. The Crypto.com DeFi Wallet can be compared to e.g. Trust Wallet or Coinbase Wallet.
Many people choose the Crypto.com app for its Visa cards. Visa cards are also easily managed via the application. Don’t forget to use the invitation code dcii0ry91 when registering to get $25 worth of CRO tokens for free if you order at least a Ruby Steel level card!
The Crypto.com mobile app is completely free. There are no monthly or annual fees. Even the cheapest Visa debit card is completely free. So you can familiarize yourself with the service without any financial risk. Click on the link below to get to the application’s download page.
Twitter users should follow the official account @cryptocom and the @cryptocomcs account that provides user support. Crypto.com is also active on other social platforms and Discord. You can find links to the service’s social accounts at crypto.com.