Have you decided that Crypto.com no longer meets your cryptocurrency trading or investing needs? Read on to fully understand the proper process to permanently delete your Crypto.com account.
Why Over 5 Million Users Have Accounts on Crypto.com
Before closing your account, let‘s briefly recap why Crypto.com rose to prominence as a top cryptocurrency platform. According to latest reports, Crypto.com now boasts an enormous user base exceeding 5 million as more individuals turn to crypto for portfolio diversification.
Powered by the $CRO token, Crypto.com stands out for its combination of competitive trading fees, staking rewards, and cashback debit cards. By investing in $CRO, users can reduce trading fees up to 100% and earn up to 14.5% p.a. card cashback rewards.
However, amid rising competition from platforms like Coinbase, Binance, Gemini, and FTX, an increasing number of users are now exploring alternatives – leading to growing account closures.
Key Reasons You May Want to Switch Crypto Platforms
While Crypto.com‘s robust features appeal to many crypto investors and traders, their product design and priorities may no longer fully align with your needs.
Here are 5 key reasons you may want to switch to another cryptocurrency platform:
1. High Trading Fees Without $CRO Staking
Crypto.com employs a variable fee structure based on your 30-day trading volume and $CRO stake. If you don‘t stake $CRO, most trades cost 0.4% which is 4x higher than rivals. Over time, these non-discounted fees can seriously eat into trading profits.
2. Frustrations Over Account Security Processes
Recent upheavals after mass account lockouts revealed weaknesses in Crypto.com‘s account security architecture according to cybersecurity experts. For users valuing reliability, these risks may be concerning.
3. Lack of Advanced Trading Features
Unlike platforms catering to active crypto traders, Crypto.com currently lacks features like customized reporting, API access, dedicated desktop platform, and more – limiting functionality.
4. Declining Cashback & Rewards
To control costs amid market volatility, Crypto.com faces pressure to reduce card cashback rates and slash token staking rewards – eroding user income.
5. Poor Customer Support During High Traffic Times
Crypto.com received over 100 million requests across online/support channels in Jan 2023 – overwhelming systems. Many users faced delays receiving timely support.
While Crypto.com tries addressing these concerns, you may decide it no longer suits your crypto needs – making account closure prudent.
Critical First Step Before Account Deletion
Before I walk through the complete account deletion process, I want to emphasize the critical first step:
Make sure to withdraw or transfer all your crypto holdings out of your Crypto.com account into another secure wallet you control before requesting account closure.
If ANY funds remain in your Crypto.com wallet(s) after your account gets deleted, you will permanently lose access to those assets. You can never recover or retrieve crypto held in a deleted Crypto.com account.
So please take a few minutes and properly transfer all tokens to an external wallet on another reputable platform:
Withdrawing tokens is straightforward. On Crypto.com, visit the specific token‘s wallet tab, enter the withdrawal address, amount, review details and confirm the transaction.
I‘d advise withdrawing to reputable industry leaders like Coinbase or Binance. If you need any assistance, don‘t hesitate to reach out to Crypto.com‘s 24/7 support.
Now let‘s get into permanently deleting your Crypto.com account.
Step-By-Step Guide to Deleting Your Crypto.com Account
When you no longer require your Crypto.com account, follow this simple 3-step verification process to request account deletion:
Step 1: Handwrite Your Name, Date, and "Crypto.com" on Paper
Grab any blank piece of white paper and clearly write out using a dark pen:
- Your full legal name
- Today‘s date formatted as MM/DD/YYYY
- The words "Crypto.com"
Make sure everything is legible. Hold this paper in hand and prepare for next step.
Step 2: Snap a Photo of Yourself Holding the Paper
Standing straight, hold up the handwritten paper next to your face and have someone take a picture of you, capturing your entire face clearly along with shoulders/upper body.
Tips for an ideal verification selfie:
✅ Entire face visible
✅ Handwritten content clearly legible
✅ No glares, shadows, obstructions
✅ Crisp image focus
Crypto.com may require you to retake if anything‘s unclear, so get it right first try!
Step 3: Email Photo to Crypto.com Support
Finally, email your self-verification photo attached to [email protected] using your registered Crypto.com account email address.
For the subject line, write "Close Account". In the body, request account deletion and attach your selfie photo.
To: [email protected]
Subject: Close Account
Dear Crypto.com,
Please delete my account permanently. Attached is my handwritten self-verification photo for identity confirmation.
Thank you kindly!
[Your name]And you‘re all set! Crypto.com support will verify your identity using the photo and process your account closure. Expect a confirmation email once it‘s deleted.
While the process involves just three simple steps, following it carefully ensures your account gets closed properly without losing any crypto funds.
Troubleshooting Tips If You Have Remaining Crypto Balances
Let‘s circle back on the critical point I can‘t overemphasize – you must withdraw ALL cryptocurrency holdings from your Crypto.com account before attempting deletion.
If you have remaining tokens left for whatever reason, do NOT delete your account or you risk losing funds unrecoverably!
Instead, take a minute and try these troubleshooting tips:
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Some cryptocurrencies have minimum withdrawal amounts. If your balance doesn‘t meet the threshold, you won‘t see the withdrawal option. For assistance, contact Crypto.com support so they can enable your small balance withdrawal.
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Very occasionally, newly deposited funds require 5-30 network confirmations before withdrawals unlock. Please wait patiently for your recent deposits to settle.
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During high network traffic times, crypto withdrawals may be briefly halted until congestion clears. Retry later.
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Officially verify your identity if not done already under the Profile tab. Unverified accounts may face withdrawal restrictions.
Crypto investments carry risk and account deletion is permanent – so please take a few moments addressing any remaining account balances before closure. Crypto.com‘s fabulous support team available 24/7 can guide you if struggling.
Only with zero balances should you proceed requesting account removal by following the 3 identity verification steps outlined earlier.
Final Words
I hope this definitive, step-by-step guide helped demystify how to properly delete your Crypto.com account! Remember, every account deletion starts with withdrawing your crypto funds for safety.
While market innovation moves fast, sometimes yesterday‘s revolutionary platforms don‘t fully serve today‘s investor needs. Don‘t hesitate migrating if a better alternative matching your priorities emerges!
Leave any feedback or questions below in the comments section. Share this post if you found it useful and help other crypto traders!
