Image copyright Credit: Credit: Chuck Kennedy/Getty Images Image caption Laurence Carrington says the cryptocurrency is a good way to raise money for families in need
What it is: A cryptocurrency.
What you need to know: Crypto.com is a website for cryptocurrency exchange traded funds, or ETFs. They are traded on exchanges such as the SEC-licensed Cboe Global Markets and CME Group. It makes about 22% of its revenue from buying and selling on these exchanges.
Why you might want to know it: Lots of people want to trade cryptocurrencies and crypto.com allows them to do so – without it being complicated or tricky.
Fees: For every leg trade, the company charges a transaction fee of 1%.
Best time to buy: The company recently introduced a 0.25% fee, allowing users to buy 0.5 BTC – about $25 – or 0.5 ETH. A whole BTC is worth around $2600 at the time of writing. The price of Ethereum is $1395, so you could get almost 200 ETH, which is equivalent to about $720.
Keep a “baby” in crypto: If you want to wait until you can get your hands on some of the 100%-plus increase the cryptocurrency has made so far this year, you could wait until Monday. That’s when crypto.com sells more than 2,000 tokens.
Who it sells to: It mainly trades to institutions who buy tokens for their own portfolios, or for hedge funds, or investors who are looking to make a quick buck. “Our user base is probably much smaller than other exchanges,” said Laurence Carrington, who bought the company in November for an undisclosed sum. “It’s quite a wealthy collector.”