What Is Crypto.com? Full Details About the New Sponsor of the Lakers

What Is Crypto.com? Full Details About the the New Sponsor of the Lakers — In a $700 million deal, the Staples Center will be renamed after the Los Angeles Lakers' new sponsor. Welcome to the Crypto.com Arena. Bermix Studio/Unpslash

In a $700 million deal, the Staples Center will be renamed after the Los Angeles Lakers' new sponsor. Welcome to the Crypto.com Arena.

This move occurred after Crypto.com discovered that AEG, the company that owns Staples Center, was looking for a new sponsor this summer. The two sides began negotiating an agreement that includes several experiential and altruistic components, per Silver Screen and Roll.

What Is Crypto.com?

Crypto.com, formerly known as Monaco Technologies, was founded to accelerate the world's transition to cryptocurrency. It began as a Bitcoin payment service which later evolved into a renowned cryptocurrency hub, per The Ascent.

Crypto.com is useful for anybody who wishes to purchase, trade, store and save cryptocurrencies. The good thing about crypto.com is that it has low fees while providing easier conversion for money and Visa card with cashback rewards. It also makes earning interest on crypto easier.

With regards to the perks it brings, the new sponsor of the Lakers has a lot to offer, including its own cryptocurrency, the CRO coin.

Other Features of Crypto.com

The Ascent clarified that Crypto.com is better described as a cryptocurrency bank rather than a cryptocurrency exchange or brokerage. The exchange does involve buying and selling bitcoins as well as trading them with other DeFi wallet users. But more than that, users of Crypto.com can spend their cryptocurrencies by using a prepaid visa card.

In addition, people can also be paid through cryptocurrency, put their money in an interest-bearing account, and even acquire a crypto loan in some countries.

Furthermore, users can deposit money into their Crypto.com account without incurring any fees even if they use an electronic bank transfer or a wire transfer. This is also one of the best value exchanges since people can buy and sell cryptocurrencies at true cost.

Crypto.com is more than just a website where people can buy bitcoin and other cryptocurrencies. Account holders can also benefit from high-interest rates. The lowest interest rates on Crypto.com are higher than the premium high-yield savings accounts.

People can earn up to 14 percent interest. However, they must keep a lot of money in CRO to qualify, much like with the Visa card bonuses.

How Crypto.com Works?

Crypto.com is available as a desktop and mobile app. People may use it to trade crypto in two ways once they have set up their account and verified their identity. The said ways are through its exchange or its DeFi wallet.

The exchange is one of the most cost-effective fiat-to-crypto conversion services. users pay a tiny maker/taker charge if they utilize the exchange to trade cryptocurrencies. The DeFi wallet, on the other hand, is a decentralized exchange that allows users to trade cryptocurrencies with other users.

What Are the Cryptocurrency Selections of Crypto.com?

Crypto.com has over 100 cryptocurrencies available all over the world. However, only 60 of them are available in the United States, and some of them are not offered elsewhere. Despite the fact that it only offers 60 cryptocurrencies across the US, the coin selection is much better than most of its competitors.