Crypto.com is an online platform that supports investors to invest in cryptocurrencies. The digital asset exchange organisation offers several cryptocurrency products and services, meaning an investor can buy, sell, trade, spend, store, earn, loan cash and even pay bills with cryptocurrencies using Crypto.com. The platform is slowly growing in popularity around the world which is why many people are wondering about "Is Crypto.com safe?" If you have been wondering about the same, then do not worry, here is all you need to know about it.
Crypto.com app and website is a Switzerland-based global digital asset service company that provides users with a chance to invest in cryptocurrencies easily and effectively. The beginner-friendly application offers a wide range of products in which one can buy, trade, sell, store, earn, loan and pay bills using cryptocurrencies. The Crypto.com app currently has around 10M installs on the Play Store with a rating of 3.3 stars. The app is great as per various user feedback on the app store, but many users have also complained about how difficult it for them to buy or sell digital assets during times of volatility.
The Crypto.com app and wallet are reasonably safe as many people across the globe are using the platform to buy Dogecoin, Bitcoin and other cryptocurrencies. While using the platform, you can do multiple things like buying and selling coins without any risk of fraud. Moreover, users can also buy and sell cryptocurrencies at true cost without any hidden charges. However, since the cryptocurrency exchange is unregulated, especially in India, it is not completely safe for investors.
Crypto.com announced today that it has received in-principle approval for a Major Payment Institution License from the Monetary Authority of Singapore (MAS).
Once Crypto.com secures the full license, the crypto exchange will be able to offer a wide range of payment services within the Payment Services Act, including Digital Payment Token (DPT) services to customers in Singapore.
Crypto.com had also recently announced that it has received provisional approval of its Virtual Asset MVP License from the Dubai Virtual Assets Regulatory Authority (VARA) and plans to launch its cryptocurrency exchange service in Dubai.
Despite securing the two approvals, the crypto exchange has not been immune to the ongoing crypto winter as the firm was forced to lay off about 260 of its employees.