What is Crypto.com?
Crypto.com is one of the biggest cryptocurrency apps in the world, offering 250+ cryptocurrencies to investors to buy and sell. The platform is being used by over 50 million users globally, and this number is simply mind-boggling, considering the amount of crypto exchanges that are available. Crypto.com offers their services in over 90 countries, including New Zealand, where you can buy, sell, hold, and earn interest on your coins. Crypto.com believes in the fundamental right to control your money without letting a third party interfere with your finances. For that, the ecosystem and revolutionary features they have brought are just out-of-the-box, making day-to-day crypto use convenient and easy. So whether you are a trader, an investor, or a person who wants to explore the blockchain industry, Crypto.com will help you in all cases.
But what you might be thinking here is whether Crypto.com is a good pick for residents in New Zealand. Does the platform have suitable payment modes, availability of services, and compliances according to the laws of New Zealand? Well, let’s dive into the details and check out if Crypto.com will suit you if you live in New Zealand.
- Buy over 250+ crypto assets with 20+ fiat currencies
- Instant and hassle-free crypto spending with Crypto.com Visa card
- Professional and easy-to-use mobile app
- Up to 5% cashback in CRO on every VISA card purchase
- An incredible ecosystem with Crypto.com’s native coin (CRO)
- Stake and earn up to 14.5% APY
- Advanced trading layout with countless features
- Access your own non-custodial DeFi wallet
- Extensive NFT marketplace
- Fast and efficient customer support
Crypto.com is unquestionably a one-stop crypto app for many, and it is probably one of the reasons why they have such a huge number of crypto enthusiasts using their services. Let’s check out what features Crypto.com offers to Kiwis.
Buy cryptocurrencies with NZD
As we are writing this article for New Zealanders, it is important to find out if the exchange offers payment methods in New Zealand Dollars. Crypto.com does allow New Zealanders to purchase cryptocurrencies directly through their bank cards and pay with NZD rather than USD or any other fiat currency. This is great for convenience, as well as saving money on conversion charges and international charges, allowing you to buy cryptocurrencies at true cost.
At the time of writing, Crypto.com only has a bank card option for New Zealanders to buy digital assets. In the future, we might see Crypto.com bringing other payment methods, such as bank transfers to NZ, making it even easier to get their hands on cryptocurrencies.
Easy spending with Crypto.com Visa debit card
Crypto.com offers its own Visa debit card that you can top up with NZD to spend worldwide, at any merchant that accepts Visa. The best thing about the debit card is that it comes with several benefits, including up to 5% cash back on every single purchase, paid out in CRO (Crypto.com's coin). In order to receive this free card, you have to stake at least $500 of CRO, and you get a tiered card based on how much is staked. You will access free ATM withdrawals, and other benefits such as rebate on Spotify, Netflix, and Airbnb, while you have your Crypto.com debit card. You can easily control your debit card through the Crypto.com mobile app and even access your virtual debit card from there to start spending right away.
A massive range of cryptocurrencies
If you are the type of investor or trader who does not compromise on the diversity of their portfolio, then Crypto.com will not disappoint you here. Crypto.com has over 250 crypto assets listed on the platform that you can buy, sell, and even hold in your account for as long as you want. All crypto assets are accessible to New Zealanders, to start trading or purchasing right away.
Crypto.com has access to the top crypto assets, such as Bitcoin, Ethereum, Litecoin, Dogecoin, and many more. If you are planning to invest in relatively newer and not-so-popular assets, you will find many of them on Crypto.com too.
Optimised mobile app for Android/iOS devices
Be it investing, staking, or holding, you can do it all from Crypto.com’s mobile app. Crypto.com has designed their mobile applications for Android and iOS users so that they can easily access their funds and plenty of features literally whenever they want. You will never miss an opportunity to buy or sell a coin when you have access to your crypto in your pocket at all times.
You can also manage your funds, access your virtual Visa card, set up your physical card, use the app as your crypto wallet, or buy/sell cryptocurrencies at your convenience.
Stake 40+ cryptocurrencies and earn
Holding your cryptocurrencies for months or even years may seem useless if there is no dramatic change in the price. However, with Crypto.com's app you can stake your assets and earn an interest rate on them, so your cryptocurrencies are working for you. Crypto.com allows crypto holders to stake over 40 cryptocurrencies right on the app and earn decent interest rates while HODLing.
You can earn up to 8.5% APY on stable assets and up to 5% on assets like BTC and ETH. You can also go with fixed-term deposits which give higher rates compared to the flexible options. Currently, the highest rewarding asset with respect to the interest rate on Crypto.com is Polkadot, offering about 12.5% APY. Simply stake the assets you own and see your portfolio grow over time.
Instant loans with collateral
It does not matter where you live, what you do, or what your bank statement says; you can take a loan on Crypto.com by simply providing collateral. Crypto.com provides 50% of your collateral as a loan, and the best thing is that you are not bound by deadlines to pay your crypto back. Make sure to keep the interest rate in mind, and you can simply pay the amount back whenever it seems feasible to you.
Buy, sell, and trade NFTs
Crypto.com has a massive NFT marketplace where you can find countless NFTs and thousands of digital artists producing new and unique digital art. You can easily buy, sell, and trade NFTs on the Crypto.com NFT marketplace and explore the world of digital art. If done correctly, you can make a lot of profit and create an income stream that is beneficial for you.
Learn and grow with resources, news, and updates
Another aspect on which Crypto.com does not compromise even a bit is their resources section, where they educate their users and offer them the latest news and updates in the blockchain industry. Do not worry if you are new and do not understand the complications involved in the crypto industry; you can answer all your questions with Crypto.com’s resources and learning material.
Take your time, start exploring the various sections, and go through everything to educate yourself. It might take some time, but you will be able to understand the crypto industry much better, and use the knowledge you have gained to make better investment decisions.
Seamless security and protection
Crypto.com believes that privacy and security are the foundations of any entity but it especially matters in the crypto industry due to digitalisation. Crypto.com has a dedicated team that monitors every single deposit and keeps track of every transaction. They store the funds of their users in cold storage, ensuring the funds are only accessed by authorised parties. As for fiat currencies, Crypto.com keeps them in custodian bank accounts for the highest level of security.
Crypto.com also encourages their users to enable several account protection measures to keep their funds safe and secure. In the end, their assessments and certification prove their credibility even further and allow users to trust them with their money.
Fees and Payment Methods
Purchasing crypto using NZD is available using credit or debit cards only, and comes with a 2.99% fee for each transaction.
Direct crypto deposits into Crypto.com app are free of charge, but withdrawing cryptocurrencies to your external wallet will incur a nominal fee which is dependent on the coin.
Pros and Cons of Crypto.com
If you are living in New Zealand and have been trying to find a good crypto exchange, then Crypto.com can be your one-stop crypto app. While they might not offer direct bank deposits to Kiwis, you can still purchase crypto using NZD with your credit/debit cards.
The diversity in their services and features such as loans, staking, and NFT marketplace, make for an undoubtedly excellent experience. If you want to discover other crypto exchanges in New Zealand, you can have a look at our article here, and see the comparison table below.
Frequently Asked Questions
Yes, all of the services and features of Crypto.com are available for users residing in New Zealand. You can head to the app, sign up, and start buying crypto assets right away.
Yes, the Crypto.com Visa card is available for New Zealanders. You can order it from the app and use it with merchants worldwide who support Visa cards.
Crypto.com is one of the safest and most secure cryptocurrency exchanges you can opt for right now. They have got a good history, a great security system, and a proven record, and millions of users who trust them with their funds.
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