Product News | Crypto.com (2024)

FAQs

Is Crypto.com shutting down? ›

On June 9, 2023, Crypto.com announced plans to shut down its institutional exchange in the United States by June 21, citing low demand from large financial institutions. The company's main retail trading service was unaffected.

No incidents reported today.

Depending on your issue, it can take between a few minutes and 24 hours to get a reply back.

If you've recently purchased crypto via card, ACH or Open Banking, your crypto may be subject to a holding period. During a holding period, you cannot withdraw from your cash (GBP, EUR, or USD) account, send funds to your DeFi Wallet, or send to an external wallet.

Its retail trading app will still survive. Starting June 21, the Singapore-based Crypto.com says that it will be shutting down institutional services on its platform in the U.S. due to the “current market landscape” that shows “limited demand” for its services.

Cryptocurrency Is Not FDIC Insured

(FDIC). If a bank fails, the FDIC insures deposits. Investors should know that if their crypto exchange goes out of business, no government agency will make them whole.

Linking your bank account to your Crypto.com account is generally considered safe. The platform uses advanced encryption and security protocols to protect your financial information. However, as with any online financial transaction, there are inherent risks.

You will need to submit and talk with the support team from crypto to do verification on this link belowhttps://help.crypto.com/en/Once they can verify you as the owner , they will send you a recovery page to let you in with the account.

Crypto.com said it stopped all deposits and withdrawals while it investigates “unauthorized activity” on some accounts.

All Users' deposits are held in cold storage, for security reasons, however, withdrawal requests - for all cryptos - are automated. In most cases, withdrawals are almost instant and normally should take no longer than 2-3 hours to be processed.

Does Crypto.com have good customer service? ›

The people working in crypto.com is what I disliked the most. Worse customer service and the most expensive crypto app to hold. Which can be a hastle as the fee is floating and not a fixed price. It's difficult to get exactly that 30 dollars without having to change the price a few times and that is highly annoying.

Is there a withdrawal fee for USD? Yes, Crypto.com charges retail users a withdrawal fee of US$45. This fee will be deducted from your withdrawal amount.

When you use a linked bank account (ACH) to buy crypto or add cash to your account balance, the funds are placed on hold and won't be immediately available to send or cash out. Think of this like depositing a check to your bank account and having to wait for it to clear before you can remove the funds.

The most straightforward way to withdraw crypto to a bank account is by selling it through a cryptocurrency exchange, peer-to-peer trading platform, or fintech company. This way, you convert the selected crypto to fiat and send money to your bank account.

You can withdraw fiat money (like USD, EUR, GBP, etc.) from your Crypto.com account to your bank account. First, go to your Fiat Wallet on the app, select “Transfer”, then “Withdraw”, and finally “Fiat”. Enter the amount and confirm your bank details, then complete the withdrawal process by following the prompts.

This is the core value of blockchain tech—it's immutable, open, can't be shut down, so you have control over your assets, and you can verify what your app is really doing on the backend. If you take a step back, verifiability, the ability to verify, is the key advantage for consumers.

You can withdraw to bank accounts you have used to deposit funds into the Crypto.com App.