Scummy Practices and how CDC basically impact people

Hi !

Disclaimer : Before everyone jumps at me saying that was silly etc etc... Yes, I have a responsibility in this and I already accepted the consequences.

Nevertheless, I believe this is important to share this, despite similar posts already existing on Reddit.That bullshit needs to stop because people are getting tricked by this dodgy practice.I'm usually very cautious and meticulous, but due to particular conditions I will describe below, I slipped for 5 min and that cost me...litteraly.

The last couple of years have been ok-ish regarding money. I've managed to invest some funds in 2021 on Crypto.com as a high risk type.

Fast forward to last month... A combination of things happened, bad divorce, and other crazy shits happening at the same time. Everything led me to basically be without home and living in my car for the last 2 months.

I sold all crypto and tried to withdraw my fiat in the last 2 months... Impossible. Crypto.com basically throwing erros every single time, not allowing the bank transfer to be processed. No real explanation or details. As my situation became worse and worse and in need of fiat urgently, I remembered that I still had my Binance account despite not owning anything on it anymore.

I was struggling a lot at that point, skipping meals and stuff to try to keep my head above the water with the few money left I had. But that became to bad so I said ok fck it, I'm going to transfer all to Binance and initiate a bank transfer from there. All the funds where transfered, and I managed to get the bank transfer received in the next minutes from Binance which saved me from some shit situations.

Now the Problem :

In urgency, and I mean bad shit urgent situation, I decided to buy XLM from Crypto.com, to then transfer the XLM to Binance and convert to Fiat again to initiate bank transfers. I needed that fiat basically NOW.

As I said, I'm responsible for that but believe me, being in my situation and having my headspace not very clear, I wasn't all there...

I quickly proceed to buy XLM from the app as the only thing I had with me was the APP, so no, I didn't think about the exchange at that point as I was on my shitty smartphone and needed to pay something urgently the same day. I review the confirmation screen and confirm, buy the XLM, great, about 9500 euros. 2 second later, I see my XLM are now worth 9000 euros !!!

To put it simply, I've just lost precious 500 euros that could have helped me a lot to be more safe and for a while. Now, yes I agreed to the transaction, but why the fck the customer is not informed more clearly about the massive difference in charge from the APP compared to the exchange, and the potential impact from the spread and fees ???

Crypto.com is advertising the no fee trading bla bla bla. What I can see is that by not disclosing certain parameters, it becomes dodgy practice to trick customers into using the app and I guess that's how they make money comfortably. At the end, you need to pay Matt Damon and finance the purchase of the L.A Arena, right ?

I find that despicable to not advise customers beforehand that a massive charge will occur if you proceed with the transaction. 500 euros out of 9500 is not nothing, that should be said, clearly. If that was couple years ago, I would be pissed off, but that's it, I won't be impacted like I am now with 500 euros missing.

Once I'll have paid some remaining stuff after the divorcee etc..., believe me, 500 euros is not nothing for me. I can live weeks with that amount. I know I'll not see that money back, but that is important for people to remind themselves that Crypto.com is a dodgy company and that they have scummy practices. I'm not the only one and I won't be the last facing this issue.

In normal times if I still had my laptop, I would have been on the exchange first, but as this was super urgent, I didn't think much and I just fell into the trap.

I know they don't care and won't read. But if there's a slight chance they do : guys, please, stop doing this and be honest and upfront with your customers on the detailed cost, fees and spread calculation when confirming trades in the App.

This is not good look and omitting to do that like you have in the past years is just showing your true colors. In my case, I'm badly impacted and that is about 500 euros lost. So, yes, your practices can put people in trouble sometimes.

I'll make sure I discourage everyone I know who wants to jump into crypto, or who are already in, to transfer their funds to other exchanges until this is changed on our end (I know you also don't care)

Happy to provide proofs if you don't believe me and think this is simply a free post bashing Crypto.com. This is unfortunately a very real situation !

TLDR - Crypto.com is a dodgy and scummy company that willingly don't display certain trade parameters in the App to charge you massive "fees" - hidden charges.

Do not put your money there and prefer another exchange.