Crypto.com Interest Account
Best For
- Retail Lenders
- Stablecoin Holders
- USD, EUR, & GBP Interest
Crypto.com is a multipurpose, centralized crypto asset lending platform with a global customer base. Users can currently earn interest on 30+ crypto assets including stablecoins, Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), and more.
Crypto.com Interest Account - 2020 Comprehensive Review
Crypto.com Interest Account Overview
| APY Rates | 1% - 16% |
|---|---|
| Interest Earning Assets | DAI, PAX, TUSD, USDC, USDT, BTC, ETH, LTC, XRP, BNB, MKR, LINK, BAT, MCO, CRO, PAXG, EOS |
| Rate Variability | Low Variable, Fixed |
| Earn Interest on | Stablecoin, Crypto |
| Deposit Amounts | $20 - $1,000,000 |
| Payout Frequency | Weekly |
| Lockup Terms | Flexible, 1 Month, 3 Months |
| Compound Interest |  |
| Network Token | CRO |
| Token Benefit | Users that stake CRO token earn additional APY and have higher deposit limits |
| Platform Type | Centralized Lender |
| Deposit Insurance | False |
| Credit check | No |
| KYC Check | Yes |
| Platform Fees | No Fees |
| Supported Regions | All Countries |
| Excluded Regions | Stablecoins restricted in Singapore, Some assets restricted in U.S |
Crypto.com Interest Rates (APY)
| Earn On | APY Rate |
|---|---|
| DAIDAI | 6% - 10% |
| Paxos StandardPAX | 6% - 10% |
| TrueUSDTUSD | 6% - 10% |
| USD CoinUSDC | 6% - 10% |
| TetherUSDT | 6% - 10% |
| BitcoinBTC | 1% - 4% |
| EthereumETH | 1% - 3% |
| LitecoinLTC | 1% - 3% |
| XRPXRP | 1% - 3% |
| Binance CoinBNB | 2% - 6% |
| MakerMKR | 2% - 6% |
| ChainlinkLINK | 2% - 6% |
| Basic AttentionBAT | 2% - 6% |
| MCOMCO | 1% - 4% |
| Crypto.com CoinCRO | 12% - 16% |
| PAX GoldPAXG | 1% - 4% |
| EOSEOS | 2% - 6% |
MCO (MCO) Token
Ticker MCO |
Price $2.81 |
Volume $247,435.29 |
Market Cap $44,356,318.00 |
Circulating Supply 15,793,831 |
Total Supply 31,587,682 |
Rank 206 |
Blockchains Ethereum |
Trusted Exchanges OKEx, Binance, Bittrex Global, Huobi Global, Gate.io |
Hardware Wallets Ledger, Trezor |
MCO (MCO) Token Exchanges
| Exchange | Rating | Price | Pairs | 24hr Volume |
|---|---|---|---|---|
| OKEx | 7.5/10 | $2.86 | 3 | $217,513.64 |
| Binance | 8.5/10 | $0.00 | 0 | $0.00 |
| Bittrex Global | 6.5/10 | $0.00 | 0 | $0.00 |
| Huobi Global | 8/10 | $0.00 | 0 | $0.00 |
| Gate.io | 6.5/10 | $0.61 | 1 | $0.00 |
Recommended MCO (MCO) Wallets
| Wallet | Rating | Type | Price |
|---|---|---|---|
| Ledger | 10/10 | Hardware | $69.99 |
| MetaMask | 8/10 | Browser Extension | $0.00 |
| Ledger Nano M | 7/10 | Mobile Application | $96.00 |
| Trezor | 9/10 | Hardware | $149.99 |
| MyEtherWallet | 9/10 | Web | $0.00 |
| MyCrypto | 9/10 | Web | $0.00 |
| TrustWallet | 9/10 | Mobile Application | $0.00 |
Crypto.com Interest Account Alternatives
Pros and Cons
Pros
- Asset Options - Crypto.com offers competitive interest rates on 8 major stablecoins and 20+ crypto assets.
- Lock Up Options - Users can select daily, monthly, or 90-day interest agreements. The longer the duration of the agreement, the higher the interest APR on the deposited asset.
- Ledger Vault - Aggregate user funds are 100% held in cold storage wallets secured by Ledger Vault.
- Customer Support - 24/7 live chat is available on both the Crypto.com website and mobile applications.
Cons
- Native Platform Token - Crypto.com ran an ICO in 2017 and issued a native utility token called MCO to investors. While purchasing and using the MCO token does have certain benefits, several other successful crypto lending platforms have proven that native utility tokens are not necessary and in most cases, overcomplicate the user experience. Crypto.com later switched from MCO to CRO as the native platform token for Crypto Earn complicating the platform further.
- Interest Rates - For users who don’t hold CRO, APR is significantly lower than the industry average for flexible-term savings.
- No Compound Interest - Interest is only paid daily on crypto asset balances and does not compound. Users looking to earn compound interest on their crypto assets can see our BlockFi and Nexo interest account reviews.
- Balances Not Insured - User account balances are not insured on the Crypto.com interest platform.
- Privacy - Crypto.com is a centralized lending platform and therefore is required to operate under traditional finance regulatory frameworks. As a result, users must KYC and verify their identities prior to using Crypto.com.
- Deposit Minimums - Crypto.com has higher deposit minimums than other crypto interest account platforms. For fixed lockups, stablecoins require a minimum deposit of $250.
- Regional Restrictions - Certain supported assets don’t allow interest earning for users based in the US and Singapore.
Frequently Asked Questions
Does Crypto.com have a mobile app?
Is the Crypto.com wallet safe?
Can I earn interest on my stablecoins with Crypto.com?
Does Crypto.com require users to KYC?
Are Crypto.com crypto asset account balances insured?
Summary
Crypto.com is a multifunctional, centralized crypto asset lending platform where users can earn interest on a variety of stablecoins and crypto assets. The platform excels in user experience with competitive interest rates, a user-friendly mobile app, and 24/7 live chat support.
Formerly known as Monaco, Crypto.com conducted an ICO in 2017 raising $26.7M USD and issued a debatably necessary native platform token to investors. Users can ‘stake’ the MCO token and earn higher interest rates on their crypto asset balances.
Overall, Crypto.com is an easy to use platform with several useful features. While there is no compound interest offered on crypto asset balances, their overall interest rates are higher than the industry standard. Crypto.com user account balances are not insured and Blockfer recommends that this risk be taken into consideration.
| Learn More | Best Features |
|---|---|
|
Legal & Regulation - Facts & Figures
| Legal Name | MCO Malta Dax Limited |
|---|---|
| Incorporated Country | Malta |
| Headquarters | Hong Kong |
| Year Founded | 2016 |
| CEO | Kris Marszalek |
| Total Employees | 500+ |
| Regulators | Unclear Regulation |
| Links | Website, Crunchbase, Whitepaper, Source code, Twitter, Blog, LinkedIn |
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About The Author
Delton has been writing about blockchain finance & technology, decentralized applications, and crypto assets since 2017. His work has been published and featured by several independent news publications and blockchain projects.
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Methodology: How We Review And Compare
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The interest product providers found in this category have been tested extensively by our team as part of the review process. Factors we analyze in our interest product reviews and comparisons include: APR rates, compound interest, available assets, terms and fees, and deposit amounts.
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