Crypto.com Sports Trading App Review (2025), Banking & Legal States
Already enjoying success in the event-trading marketplace when it came to the recent US Presidential election, Crypto.com is now offering American players the opportunity to participate in the first-ever sports-event trading service.
This is an entirely new way to wager on sporting events in the US market, and what’s most interesting about this formula is that in the legal sense, it isn’t considering gambling at all.
You aren’t going to be placing a direct bet on the outcome of a game or event. Instead, you are making a prediction on a sporting event and then taking out a contract on that event by risking a predetermined amount of money. An amount for a winning prediction is then established. If your prediction comes to fruition, you win that amount. However, should you be wrong, you lose the money you staked on your prediction.
You can make these trades on the Crypto.com web page, or via the Crypto com sportsbookapp. You can download the Crypto.com app directly from a link on the Crypto.com web page. The app is available for both iOS and Android devices.
The success of the Crypto.com subsidiary Derivatives North America had in handling similar trades on the November 2024 US election is what spawned the concept for expanding to offer sports event trading services.
Both trading sites are fully legal and regulated in the USA by the Commodities Future Trading Commission. And while Crypto.com Sports is a first of its kind in the US market, it may not be for long. Robinhood, the commission-free stock trading platform, has also recently been making noise about moving into the sports betting marketplace in some form.
What Is Crypto.com?
A Singapore-based company, Crypto.com was first launched in 2016 with an objective of accelerating the world’s transition to cryptocurrency. Their goal is to put crypto into everyone’s wallet. Worldwide they boast of 100 million customers in 90 different countries.
Operating as a crypto exchange, they buy and sell over 350 different types of cryptocurrency. You can store your cryptocurrency with them, acquire and sell NFTs and even get a crypto Visa card from them. The company has gained a reputation as being one of the safest and most trusted crypto traders in the marketplace.
The home arena to the NBA’s Los Angeles Lakers, formerly the Staples Center, was rebranded as Crypto.com Arena in 2021.
How Does Crypto.com Sports Work?
Crypto.com is certainly seeking to tap into the lucrative US sports betting app market. Estimates are there are more than 8.5 million active sports betting accounts operating online in the legal and regulated US market.
However, it’s worth noting that the transactional product being offered by Crypto.com Sports is not in fact considered to be in the realm of gambling. It falls more into the world of online stock trading.
That is, in fact, what you’ll be doing if you open an account with Crypto.com Sports. You aren’t making bets. You’ll be trading on the outcome of sports events. You are making predictions and then taking out a contract to cover that prediction. In essence, it is like betting on a stock. You are counting on the price going up.
You pick an outcome, say the NFL’s Detroit Lions to win this year’s Super Bowl game. Then you put a dollar amount on that prediction. The chances are set on your outcome coming to fruition based on implied probabilities and you are informed of what price a winning prediction will be paying out to you. In the case of the Lions, they are given a 22% chance of winning the Super Bowl, so a trade on them will cost you $22.75.
You could also choose to take out a no contract on the Lions, meaning you would be trading on them not to win the Super Bowl. As well, as prices fluctuate on your trade, you can always hedge your original trade.
Of course, just like in sports betting and playing the stock market, there’s risk involved with sports event trading. By entering into a trade you risk losing your cost to enter that transaction, including fees paid to Crypto.com to process the transaction.
If you want a more detailed explanation of how commodities trading works, it’s all laid out right here.
How Do I Log In to Crypto.com?
To log in, open the Crypto.com app or visit the website. Enter your registered email address and password. For added security, use biometric authentication or two-factor authentication (2FA). If logging in from a new device, you may need to verify your identity via a code sent to your email.
How Do I Get My Crypto.com Tax Forms?
Tax forms can be accessed by logging into your Crypto.com account and navigating to the “Tax” section in the settings. Download transaction history for specific periods or connect your account with tax software like Koinly or TokenTax, which integrates seamlessly with Crypto.com for generating detailed tax reports.
Crypto.com Sports Banking Methods
Another interesting aspect to the Crypto.com Sports model is that, as their name suggests, all of their financial transactions are based in cryptocurrency. You can trade on sports events with 350+ crypto, including Bitcoin, ETH and more.
The problem with that is you can’t make financial transactions in the USA via cryptocurrency. However, at Crypto.com sports, they’ve come up with a work around for that problem.
You tell them what you want to pay on your sports event trade in US dollars. Then you tell them which cryptocurrency account you have with them that you want to use for the payment. The Crypto.com Sports app will automatically convert the necessary amount of crypto to cover the US dollar payment and your trade is in.
While the most accepted cryptocurrencies at Crypto.com are Bitcoin and Ethereum, they will accept more than 350 forms of cryptocurrencies.
Payments on winning trades are made in US dollars and are paid out the day after the event is resolved.
How Do I Withdraw Money from Crypto.com?
Withdrawing funds from Crypto.com is simple and accessible through the app, and if to believe their page, money is available within 1 business day. For cryptocurrency withdrawals, open the app, go to your “Crypto Wallet,” and select “Withdraw.” Choose “External Wallet” to send funds to another address, or “Crypto.com Exchange” for internal transfers. For fiat currency, navigate to the “Fiat Wallet,” link your bank account, and initiate a withdrawal. Cryptocurrency withdrawals are typically processed within a few hours, while fiat transfers may take several business days.
To cash out, convert your cryptocurrency holdings into fiat currency. This can be done by selecting “Sell” in your Crypto Wallet and choosing the preferred fiat option. Once converted, go to your “Fiat Wallet” and withdraw the funds to your linked bank account. Ensure your bank details are verified before initiating the transaction. Processing times vary depending on the bank and withdrawal method.
The Crypto.com Visa Card lets you spend crypto effortlessly by converting it to fiat at the time of purchase. It offers cashback rewards in CRO tokens, with higher-tier cards providing additional perks like free Netflix, Spotify, and airport lounge access. To use the card, fund it through the app with crypto or fiat, and swipe it wherever Visa is accepted, including ATMs.
Crypto.com Sports Games
They are launching Crypto.com Sports in time to capitalize on the NFL playoffs and Super Bowl, so naturally, they are anticipating that the majority of trades they will be receiving will be on NFL games.
However, their site insists that you can make sports events trades on other events, so that would suggest at the very least the possibility of trading on the World Series, NBA Finals, or NHL Stanley Cup, for example.
Crypto.com Sports Legal States / NJ included
One significant advantage with Crypto.com Sports is that since it isn’t categorized as gambling, it is accessible for use in all 50 US states. Sports Event Trading via Crypto com is a CFTC-regulated derivatives product available in New Jersey, New York, Colorado, California, and other states in the USA – as per their website.
As noted previously, exchange trading on sporting events works in implied probabilities. They do not employ the standard American odds that are offered by sportsbook apps.
Rather than a state gambling commission, all Crypto.com Sports trading is regulated by the federal Commodities and Futures Trading Commission (CFTC).
Crypto.com Sports Customer Support
When it comes to customer support, they’re a little thin on delivery at the Crypto.com website. There is an extensive help page to which you can post questions. However, if the answer you require isn’t there, they aren’t offering any other method to contact Crypto.com customer support for further assistance. Access the “Help Center” in the app to initiate a live chat, or email support@crypto.com for assistance. Note that there is currently no direct phone number for support.
Contact: chat.crypto.com | Office: Level 7, Spinola Park, Triq Mikiel Ang Borg, St Julians SPK 1000 Malta.
What Are Users Saying About Crypto.com App?
Crypto.com has generally positive reviews for its user-friendly interface, diverse features, and comprehensive crypto offerings. However, users have reported delays in customer support responses and occasional issues with the withdrawal process. Cashback rewards from the Visa card and staking opportunities are highly praised.
The Crypto.com app enjoys strong ratings across platforms, with a 4.2/5 score on Google Play and 4.3/5 on the Apple App Store. Users appreciate the intuitive design and robust functionality. Some complaints include occasional glitches and delays in transaction processing.
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