Crypto.com is a platform that offers its users an array of services. It is a trade and investment platform that provides users the opportunity to trade in cryptocurrencies. It facilitates investing, stalking, provides e-wallets and other similar services.
Though investors widely use the platform, it has major flaws. The biggest shortcoming of using this platform is the absence of reliable customer service.
The absence of customer service has left many clients frustrated and dissatisfied. It is reflected in their reviews and ratings on many review sites.
How To Delete Crypto.Com Account
Unlike most digital trading platforms, crypto.com does not give you a straightforward way to terminate your account.
There are some hoops that you will need to jump before you can delete your account. Let us take a look at the procedure:
Step 1: withdraw your money
Before closing your account, be sure to withdraw your money from your account. Ensure to wait until the withdrawal has been processed before proceeding to the next step.
Step 2: Contacting crypto.com
After you have decided to delete your account, you will need to get in touch with the folk at crypto.com. You can do this by contacting them at firstname.lastname@example.org. Please note that you must contact crypto from the email that you used to register your account.
Step 3: Addressing and information
Subject: Close Account- Do not attach any additional phrasing to the subject of your email. Doing so will help the sorting algorithm to prioritize your email.
Step 4: Attachments
This is a security and verification step that is added to confirm your credentials. It is added to prevent anyone other than the holder of the account from closing the account.
You will need to provide your photo. In the photo, you should be holding a paper that summarizes the following information-
- The name that you used in the registration process as you created the account.
- The date that you intend to send the email.
Note that your face must be visible in the photo. It would be best if you also wrote legibly, using clear ink. It must be handwritten rather than typed as an added security measure.
Step 5: Confirmation
You will receive an email confirming that you have terminated your crypto.com account. The email will also provide you with the information that crypto is legally required to hold. This information is provided in the ‘terms of service.’
Cancellation Of Crypto.Com Visa Card Service
Several situations may prompt you to cancel your visa card with crypto.com. Cancellation may be necessary if you suspect that your card has been hacked, stolen, or lost.
Here is a guide on how to cancel your crypto.com visa card.
1. Open the crypto.com app card page.
On your Android or IOS device, tap the card icon. The card icon is located on the top towards the right side of your screen.
2. Freeze the card
Underneath the green visa card, there is an option to freeze and ‘view pin.’ Tap the freeze icon and confirm.
3. Await confirmation
You will be notified that the card has been successfully frozen and de-linked to your crypto.com account. This confirmation will be via text or email.
Transfer Charges On Crypto.Com Visa Card Accounts
Crypto.com levies a base charge if you wish to transfer all your funds to the account. The base charge is set at 50 dollars. The charge covers the cost of processing the transfer.
If you do not wish to incur the service charge, you can spend all the money on the card.
How To Create A Crypto.Com Account
Opening an account on crypto.com is a fast and easy process. It typically takes less than 10 minutes to have your account up and running. To create a crypto.com account, follow the following steps:
Step 1: Download the crypto.com application:
Crypto.com is available on all major platforms: the Google Play Store and the Apple App Store. Search the term Crypto.com and click install.
Note that you can also register on your PC by simply heading to crypto.com on a secure browser and clicking the sign-up option.
Step 2: Signing-up
Once the application has been installed on your device, click the sign-up option. You will need to provide an email and set a password. It is imperative that you do not share your password with anyone for the security of your account.
Step 3: Verification
For a new user, you must provide your name as it appears on your identification card. You will also be required to provide a picture of your identification card. Lastly, you will need to provide a selfie as the final stage of verification.
Step 4: Linking accounts to your crypto.com account
For you to use the platform, you will need to add a method of payment and deposit for your account. It is done by linking your bank account to the service.
This step may require you to take a KYC prompt, depending on your country. The KYC prompt is just an additional step that verifies the client’s details for a second time.
Step 5: Agreeing to the terms and conditions of service
As a final step, you will need to agree to the terms and conditions of using crypto.com. If you do not consent to the terms, you will end the registration process.
Services Provided By Crypto.Com
Apart from facilitating the buying and selling of cryptocurrencies, crypto.com provides other services to its users. The services include:
1. Derivative trading
The crypto.com platform allows users to trade in financial-based derivatives. They allow users to transfer securities from your spot wallet to your derivative accounts. These include assets such as USDT, CRO, USDC, and DAI.
2. Deposit tokens
On certain securities, crypto.com offers up to a 14.5% deposit token. The tokens are usually offered on staple coins. The tokens accrue based on the amount deposited and the duration of the deposit.
3. Stop/limit order securities
Crypto.com offers users the opportunity to invest in securities with stop-limit orders. These stop orders are exercised at pre-determined prices and vary based on the type of security used.
Other services offered include, but are not limited to:
Margin trading and market leveraging:
It is facilitated by the use of short-term borrowed funds afforded to clients on the platform. It is a high-risk investment that skilled investors undertake.
Advanced exchange service:
The advanced exchange services are advanced to users who wish to explore crypto trading in detail.
Pros Of Using Crypto.Com
Using crypto.com comes with some advantages, some of which include:
1. Range of currencies supported:
Crypto.com offers an extensive list of the types of cryptocurrencies supported. The platform supports more than 100 currencies, and the list continues to grow today.
2. Range of services offered:
Crypto.com offers a wide range of services. Most platforms are restricted to buying and selling cryptocurrencies. Crypto.com has successfully differentiated itself as a platform by taking advantage of gaps in the market and diversifying its services.
3. Affordable interest and drawing charges:
Unlike most platforms, crypto.com offers users affordable charges on their investments. Offering competitive charges has enabled the platform to gain a large market share.
Cons Of Using Crypto.com
Some of the disadvantages of using crypto.com are:
1. Poor customer service
Crypto.com has a reputation for offering questionable customer service to its clients. It ranges from delays in answering queries to low-quality responses. Having poor customer service has left many clients dissatisfied. It affects the firm’s perception of prospective investors.
2. Difficulties in terminating accounts:
There are so many procedures to follow if you want to terminate your service with crypto.com. There is no direct way to do terminate the account. These procedures are tiresome to many customers, and it can be quite frustrating to terminate the account.
Trading limitations are stratified and biased according to levels. There are nine levels differentiated using a graduating scale.
These levels restrict the volumes tradable on the platform over a period of 30 days. The lowest tier, level 1, restricts trading to a maximum of $25000.
The highest tier, level 9, is for individuals who trade over $200000001. The interest spread also varies depending on the volumes traded.
Crypto.com offers users a platform from which they can trade in digital securities. They offer a wide range of services to their clients.
The platform is popular due to the limited fee incurred on investment and withdrawals. Just like any trading platform, crypto.com has got its shortcomings.
The process of closing your crypto.com account is different. It is a lengthy process with several verification procedures. The steps are aimed at protecting users from having their accounts by third parties. The piece outlines these procedures clearly and concisely.