Crypto.com Reaches Over 5 Million Users

News / 14.10.2020

Crypto.com, a well-known name in the world of cryptocurrencies, has recently announced surpassing over 5 million users on its platform. Founded in the year 2016, Crypto.com grew rapidly with its visa-based crypto debit cards and then forayed into a “super-app” letting users trade as well as earn cryptocurrencies in one place. 

Upon reaching this milestone, Kris Marszalek, CEO of Crypto.com, said, “ Crypto.com has been very fortunate to grow from 1m users to over 5m on the platform in only 12 months. We have an incredibly engaged user base, just as passionate as we are about realizing the vision of cryptocurrency in every wallet. I want to thank all our customers for their incredible support along this journey. We promise to continue improving rapidly in all facets of the company, to serve you well.” 

Earlier this year, the exchange surpassed over 3 million users, and within 3 months, the platform accumulated another 2 million users. Upon reaching this milestone, the company’s statement further states the strategic goal of reaching 100 million users in the coming five years. It further boasts of a team of over 600 people and plans to achieve the goal of building a profitable business.

The Hongkong based company also offers its native token Crypto.com Coin (CRO) and encourages its users to hold CRO coins to get additional cashback on purchases through its debit card. Besides exchange, the company also offers facilities such as earning interest on crypto assets, loans against crypto collateral, DeFi swap, and a crypto payment gateway for merchants. Crypto.com is known for its aggressive marketing tactics with a range of discounts, referrals, and giveaways. These tactics involve $50,000 worth of Bitcoin through its Twitter sweepstakes or letting CRO coin holders buy Bitcoin at 50% off the price, among others. 

The company also enjoys rich benefits of its aggressive marketing through the market capitalization of its native token CRO, currently measuring around $2.9 Billion. It is also counted among the top 15 biggest cryptocurrencies, according to Coingecko. 

Narender is a digital nomad & crypto writer. He's currently living in this small Himalayan village with a perfect balance of wilderness and an LTE network. His love for Chai and mountains precedes everything. Often wonders about things like, "why $1 earned through leverage feels 100x better than $1 earned selling your time?"