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What is crypto.com?

2024-02-04 18:04

Abstract: This is an estimate of the entire company's worth, including its brand, technology, user base, and other assets. However, Crypto.com is a private company and doesn't disclose its official valuation.

Crypto.com is a cryptocurrency exchange company based in Singapore. They offer a variety of services for individuals interested in crypto space, including:

Cryptocurrency exchange: Crypto.com offers two platforms for trading cryptocurrencies:

Crypto.com App: A user-friendly app for buying, selling, and storing over 250 cryptocurrencies. It also offers features like staking (earning interest in crypto holdings) and a Visa debit card that lets you spend crypto anywhere Visa is accepted.

Crypto.com Exchange: A more advanced platform for experienced traders, offering margin trading, futures contracts, and other complex trading features.

Crypto.com DeFi Wallet: A non-custodial wallet for storing and managing cryptocurrencies. You have complete control over your private keys.

Crypto.com NFT marketplace: A platform for buying, selling, and creating non-fungible tokens (NFTs).

Crypto.com Pay: A service that allows you to pay for goods and services with cryptocurrency directly from your Crypto.com wallet.

crypto.com

crypto.com worth?

Crypto.com Coin (CRO) price:

This refers to the value of their native token, CRO. The price of CRO is approximately USD 0.0824.

Market capitalization:

This represents the total value of all outstanding CRO tokens in circulation. Currently, the market cap of CRO sits at around USD 2.06 billion.

Company valuation:

This is an estimate of the entire company's worth, including its brand, technology, user base, and other assets. However, Crypto.com is a private company and doesn't disclose its official valuation.

crypto.com founder?

Crypto.com wasn't founded by a single person, but by a team of four entrepreneurs in 2016:

Kris Marszalek: Currently serves as Co-Founder & CEO. He brings experience in building companies from scratch, having previously founded BEECRAZY (sold for $21 million) and served as CEO at Ensogo.

Rafael Melo: Holds the position of Co-Founder & CFO. His expertise lies in finance, risk management, and mobile payments, gained through roles like CFO at ASX-listed Ensogo.

Bobby Bao: As Co-Founder and Head of Crypto.com Capital, he leverages his background in investment banking, corporate development, and investor relations. He was even recognized as Forbes Asia's 30 under 30 leader.

Gary Or: Though not currently listed on the company's website, he contributed to the founding team and brought technical expertise.

crypto.com founder

Is crypto.com legitimate?

Regulation and Licensing:

Crypto.com operates in various jurisdictions and holds several licenses and registrations depending on the region. For example, in the US, it operates as a Money Services Business (MSB) registered with FinCEN.

However, cryptocurrency exchanges themselves are not yet fully regulated in many countries, and the regulatory landscape is constantly evolving.

Reputation and Reviews:

Crypto.com generally receives positive reviews on popular platforms like Trustpilot and Google Play. However, it also has its share of negative reviews and complaints, mainly regarding customer service issues and platform glitches.

Overall:

While Crypto.com appears to be a legitimate business operating within current regulations, it's important to remember that the cryptocurrency industry is still relatively young and carries inherent risks.

It's crucial to do your research and consider your risk tolerance before using any cryptocurrency platform, including Crypto.com.

crypto.com legitimate

Is crypto.com safe?

Crypto.com claims to employ various security measures like multi-factor authentication (MFA), cold storage for most user funds, and regular security audits.

However, no platform is 100% secure, and hacks and security breaches can still occur.

How to withdraw from crypto.com?

Withdrawing Cryptocurrency:

Log in to your Crypto.com account (app or exchange).

Go to your Crypto Wallet or the specific cryptocurrency you want to withdraw.

Click on “Withdraw”.

Choose the withdrawal method:

Crypto.com App: Free withdrawal to your Crypto.com app wallet.

External Wallet Address: Enter the wallet address of the other platform you're sending to. Make sure it supports the specific cryptocurrency you're withdrawing.

Enter the amount you want to withdraw.

Review the details carefully and double-check the wallet address if withdrawing to an external wallet.

Confirm the withdrawal.

You may need to complete additional verification steps like two-factor authentication.

Withdrawing Fiat Currency:

Log in to your Crypto.com account (app or exchange).

Go to your Fiat Wallet (USD, EUR, etc.).

Click on “Withdraw”.

Choose the withdrawal method:

Bank Transfer: Enter your bank account details (routing number, account number, etc.). Make sure your bank supports withdrawals from Crypto.com.

Visa Debit Card: If you have a Crypto.com Visa debit card, you can withdraw directly from it.

Enter the amount you want to withdraw.

Review the details carefully and ensure your bank information is correct.

Confirm the withdrawal.

You may need to complete additional verification steps like two-factor authentication.

crypto.com safe

Other:

Withdrawal fees: Crypto.com charges withdrawal fees depending on the cryptocurrency and withdrawal method. Check their website for specific fees.

Processing times: Withdrawals can take from a few minutes to several days depending on the method and network congestion.

Minimum withdrawal amounts: There may be minimum withdrawal amounts for both crypto and fiat withdrawals.

Does Crypto.com report to the IRS?

For US users:

If you earn USD 600 or more in rewards from activities like staking, Earning, referrals, or certain other activities on Crypto.com during a calendar year, they will send you a Form 1099-MISC.

This form reports your income to both you and the IRS.

It's your responsibility to report any other cryptocurrency transactions (buying, selling, trading) on your tax return, regardless of the amount.

For users outside the US:

Crypto.com may report to tax authorities in other countries depending on local regulations and user agreements.

It's crucial to consult with a tax advisor familiar with your specific jurisdiction for details.

How to transfer money from crypto.com to a bank account?

Steps:

Log in to your Crypto.com account (app or exchange).

Go to your Fiat Wallet (USD, EUR, etc.).

Click on “Withdraw”.

Choose the withdrawal method: Bank Transfer.

  • Select your bank account: Choose the bank account you want to withdraw from your linked accounts.

  • Enter the amount you want to withdraw.

  • Review the details carefully, ensuring the bank account information is correct.

  • Confirm the withdrawal.

  • You may need to complete additional verification steps like two-factor authentication.

  • Crypto.com report to the IRS

    Other:

    Withdrawal fees: Crypto.com charges withdrawal fees depending on the fiat currency and withdrawal amount. Check their website for specific fees.

    Processing times: Bank transfers can take from 1 to 5 business days, depending on your bank and other factors.

    Minimum withdrawal amounts: There may be minimum withdrawal amounts for fiat currency withdrawals.

    How to cash out crypto.com?

    Withdrawing fiat currency (USD, EUR, etc.) to your bank account:

    Log in to your Crypto.com account.

    Go to your Fiat Wallet.

    Click “Withdraw” and choose “Bank Transfer” as the method.

    Select your bank account and enter the withdrawal amount.

    Review the details carefully and confirm the transaction.

    Selling cryptocurrency for fiat currency and then withdrawing it:

    Log in to your Crypto.com account.

    Go to your Crypto Wallet and choose the cryptocurrency you want to sell.

    Click “Sell” and select the desired fiat currency (USD, EUR, etc.).

    Choose the order type (market or limit) and enter the amount you want to sell.

    Confirm the trade.

    Once the sale is complete, you can withdraw the fiat currency to your bank account using the method described above.

    cash out crypto.com

    How to get crypto.com tax documents?

    Downloading your transaction history:

    This is the most basic option and provides a comprehensive record of all your transactions on the platform.

    Steps:

    Log in to your Crypto.com account (app or exchange).

    Navigate to your “Settings” or “Account Management” section.

    Look for an option to “Download Transaction History” or “Export Transactions”.

    Select the desired date range and format (e.g., CSV).

    Download and save the file securely.

    Receiving a 1099 form (US users only):

    If you earned USD 600 or more in rewards from activities like staking, Earn, referrals, or certain other activities on Crypto.com during the tax year, they will automatically send you a Form 1099-MISC.

    This form reports your income to both you and the IRS.

    You will receive an email notification when the form is available and can download it from your Crypto.com account.

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