Crypto.com is a well-known platform for trading and managing cryptocurrencies. Many users ask, “Does Crypto.com have a wallet?” Yes, it offers the Crypto.com Onchain wallet, a non-custodial wallet that gives you full control over your assets. This guide explains its features, how to set it up, and its safety measures in simple terms.
For more on Crypto.com, check out our posts on Crypto.com fees and how to withdraw money from Crypto.com.
What is the Crypto.com Onchain Wallet?
The Crypto.com Onchain wallet, previously called the DeFi Wallet, lets you store, send, and receive cryptocurrencies like Bitcoin and Ethereum. Unlike the Crypto.com App wallet, where the company holds your keys, this wallet is non-custodial. This means you control your private keys, ensuring privacy and ownership.
Key Features
- Supports over 25 blockchains, like Ethereum, Bitcoin, and Solana.
- Trade more than 1,000 tokens across chains.
- Move assets between blockchains with in-app bridging.
- Stake over 25 tokens to earn rewards.
- Connect to decentralized apps (dApps) for lending, borrowing, or yield farming.
- Buy, sell, and store NFTs on blockchains like Ethereum and Polygon.
- Track your assets and transactions in real time.
For a complete list of supported cryptocurrencies, visit Crypto.com’s support page.
How Does It Compare to the Crypto.com App Wallet?
The Crypto.com Onchain wallet and the Crypto.com App wallet serve different needs:
| Feature | Crypto.com Onchain Wallet | Crypto.com App Wallet |
|---|---|---|
| Type | Non-custodial (you control keys) | Custodial (Crypto.com holds keys) |
| Control | Full user control | Managed by Crypto.com |
| DeFi Access | Supports dApps, NFTs, staking | Limited to app features |
| Ease of Use | More complex, for advanced users | Simple, beginner-friendly |
| Security | Depends on user’s key management | Relies on Crypto.com’s security |
- Choose the App Wallet for simplicity if you’re fine with Crypto.com managing your keys.
- Choose the Onchain Wallet for control and DeFi access.
How to Set Up the Crypto.com Onchain Wallet
Setting up the wallet is straightforward:
- Download the App:
- Get it from the App Store or Google Play.
- Or use the Chrome extension (link).
- Create a Wallet:
- Open the app and select “Create Wallet.”
- Set a passcode and enable biometric authentication if available.
- Back Up Your Recovery Phrase:
- You’ll get a 12-, 18-, or 24-word recovery phrase.
- Write it down and store it offline, like in a safe. This phrase is your backup if you lose access.
- Start Using It:
- Add cryptocurrencies, trade, stake, or connect to dApps.
Importing an Existing Wallet
Already have a wallet like MetaMask? Import it using your recovery phrase or QR code. Follow this guide.
How to Use the Crypto.com Onchain Wallet
Here’s how to use the wallet for common tasks:
- Sending and Receiving Crypto:
- Receive: Share your wallet address to get crypto.
- Send: Select an asset, enter the recipient’s address, and confirm. You’ll pay network gas fees.
- Trading and Swapping:
- Swap tokens across chains in the app.
- Fees include a 0.3% service fee (via 1inch V4 protocol) plus gas fees.
- Staking and Earning:
- Stake tokens like Ethereum or CRO to earn rewards.
- Choose flexible or locked staking options.
- DeFi and dApps:
- Connect to dApps like Aave or Uniswap for lending or yield farming.
- Access NFT marketplaces like OpenSea.
- NFTs:
- Buy, sell, and store NFTs on supported blockchains.
For more on Crypto.com’s platform, read Is Crypto.com Safe?.
Is the Crypto.com Onchain Wallet Safe?
The wallet uses strong security measures like encryption, biometric authentication, and 2FA. Since it’s non-custodial, your private keys are stored locally, not on Crypto.com’s servers. However, you’re responsible for securing your recovery phrase. Losing it could mean losing your funds.
Safety Tips
- Protect Your Recovery Phrase: Never share it. Store it offline in a secure place, like a fireproof safe.
- Enable 2FA: Add two-factor authentication for extra security.
- Update Regularly: Keep the app or extension updated for the latest security fixes.
- Avoid Phishing: Only use official Crypto.com links and avoid suspicious emails or sites.
For added security, consider pairing the wallet with a hardware wallet like Ledger Nano X.
Pros and Cons
| Pros | Cons |
|---|---|
| Full control over your keys and assets | You must secure your recovery phrase |
| Supports 25+ blockchains and 1,000+ tokens | Gas fees apply for transactions |
| Access to DeFi, staking, and NFTs | More complex for beginners |
Alternatives to Crypto.com Onchain Wallet
Other wallets may suit different needs:
| Wallet | Type | Best For | Key Features |
|---|---|---|---|
| MetaMask | Hot (Software) | Ethereum users | Supports ERC-20 tokens, dApps |
| Trust Wallet | Hot (Software) | Broad crypto support | Integrates with Binance, many chains |
| Ledger | Cold (Hardware) | High security | Offline storage, multi-asset support |
| Exodus | Hot (Software) | Beginners | User-friendly, built-in exchange |
Choose based on your needs for security, ease, or blockchain support.
Conclusion
The Crypto.com Onchain wallet is a powerful tool for managing cryptocurrencies with full control. It supports multiple blockchains, DeFi, NFTs, and staking. However, you must secure your private keys carefully. If you want privacy and DeFi access, this wallet is a great choice.
For more crypto tips, read what is a crypto ETF or how to start investing in cryptocurrency.
Frequently Asked Questions (FAQs)
Q: What cryptocurrencies does the Crypto.com Onchain wallet support?
A: It supports over 25 blockchains and thousands of tokens, including Bitcoin and Ethereum.
Q: Is the Crypto.com Onchain wallet safe?
A: Yes, it uses encryption and 2FA. Safety depends on securing your recovery phrase.
Q: Can I use the wallet without a Crypto.com account?
A: Yes, it works independently of the Crypto.com App.
Q: How do I recover my wallet?
A: Use your recovery phrase, stored securely during setup.
Q: Are there fees for using the wallet?
A: Storing crypto is free, but transactions have gas fees, and swaps may include a 0.3% service fee.
