The irruption of crypto.com in the traditional media in the form of an ad starring Matt Damon has caused tens of thousands of users to wonder about the reliability of this service. The platform in question is very similar in concept to services such as Binance or Coinbase, as it allows us to operate with cryptocurrencies and NFTs through an interface accessible from the mobile phone (Android and iPhone) and the web portal. But is crypto.com reliable compared to the platforms just mentioned? Is crypto.com safe? We see it.
REASONS WHY CRYPTO.COM IS LEGIT
It is not for nothing that crypto.com is one of the best alternatives to the most reputable Bitcoin wallets in the sector. The company emphasizes the security of operations and application through different encryption methods used on the platform.
IT IS THE FIRST CRYPTOCURRENCY PAGE THAT MEETS ISO STANDARDS
That’s how it is. ISO standards tend to meet certain security, privacy, and quality parameters. In the case of crypto.com, the platform boasts that it is the only “cryptocurrency website” that complies with some of these standards. Specifically, the company complies with the extensions: ISOÂ /IEC 27701:2019, CCSS Level 3, ISO/IEC 27001:2013, and PCI-DSS v3.2.1 Level 1.
Likewise, security companies up to Level 4 have independently evaluated the platform, corresponding to the highest level for NIST’s cybersecurity and privacy frameworks. Crypto.com has also contracted with certain globally recognized security auditing and consulting companies, such as Kudelski Security, to stress test and audit core Blockchain systems.
IT HAS A BOUNTY PROGRAM FOR SECURITY BREACHES
To maintain some transparency for users, crypto.com has a rewards program for developers and security experts to reward those users who detect security flaws in the platform. The rewards range between 200 and 20,000 dollars as of today and can be reported through the external platform hackerone.com. This way, the code and access to the web page’s information are available.
THE LEGAL INFORMATION OF THE PARENT COMPANY IS NOT OVERSHADOWED
When we talk about unreliable pages, it is normal that the legal information is obscured or not shown to the public. In the case of crypto.com, the parent company is Foris DAX MT Limited (formerly MCO Malta DAX Limited), as well as its associated companies in the different territories where it operates, Foris MT Limited, Foris DAX Global Limited and ForisGFS UK Limited. Regarding the processing of data, the company responsible varies depending on the place of residence of the user. The information provided by the website is the following:
TerritoryProduct or service of crypto.com responsible company contact information
European Economic Area, United Kingdom and Switzerland crypto.com app Foris DAX MT Limited (formerly MCO Malta DAX Limited) St. Julians, SPK 1000, Floor 7, Spinola Park, Triq Mikiel Ang Borg, Malta
European Economic Area and Switzerland Crypto.com Debit Card Foris MT Limited St. Julians, SPK 1000, Floor 7, Spinola Park, Triq Mikiel Ang Borg, Malta
United Kingdom Crypto.com Debit Card ForisGFS UK Limited Tricor Suite, Fourth Floor, 50 Mark Lane, London, EC3R 7QR, United Kingdom
Rest of the countries Debit card and crypto.com app Foris DAX Global Limited 70 Sir John Rogersons Quay, Dublin 2, Ireland
MEETS APPLE AND GOOGLE REQUIREMENTS FOR DOWNLOAD IN STORES
The security measures Apple and Google apply when publishing applications in the App Store and Play Store are well known. When it comes to apps that make use of payment information, the requirements are still strict, especially in the Apple app store.
REASONS WHY CRYPTO.COM DOES NOT SEEM SAFE
All that glitters is never gold, especially if we are talking about web pages and platforms that do not have a physical presence in Spain. On this occasion, we have compiled some shortcomings of crypto.com to assess the reliability of the service compared to other alternatives.
IT IS NOT COMPATIBLE WITH PAYPAL OR THIRD-PARTY PAYMENT PLATFORMS
Although this is an unwritten rule on cryptocurrency pages, the truth is that it never hurts to make payments of currencies compatible through platforms such as PayPal. In this way, the payment information becomes invisible in the eyes of crypto.com, not to mention the security that this type of service presents for purchases made over the Internet.
CUSTOMER SERVICE SEEMS NOT TO BE VERY EFFECTIVE
One of the main criticisms that can be read of the crypto.com application has to do with the efficiency and speed of customer service. Comments often mention the response times of the service in question; In some cases, the alleged lack of operability of the agents is criticized, which results in unattended requests or non-existent support in the event of problems with the Android and iOS applications.
THE APPLICATION SEEMS TO HAVE PROBLEMS WITH ITS FUNCTIONALITY
The arrival of crypto.com to mobile phones has not been without controversy. Most crypto.com reviews that can be read on the Play Store and App Store expose various errors related to buying cryptocurrencies in bullish trends, as well as exchanging values between different exchanges and withdrawing cash to the provided bank account by the users.
CRYPTO.COM OPINIONS IN 2021 REAL: POSITIVE, NEGATIVE, AND CRYPTO.COM ISSUES
Beyond the shortcomings and benefits of crypto.com, the best way to assess the platform’s reliability is based on the real experience of users and customers of the service. For this reason, we have collected some reviews to determine the opinion of crypto.com in 2021 and part of 2022.
I am a writer with eight years of experience writing in business and technology. I always carry a passion for learning and discovering new knowledge.