In the fast-paced world of cryptocurrencies, efficiently managing your accounts is essential. While most exchanges make it straightforward to delete your account with a simple click of a button, others may require a different approach.
Crypto.com, a popular cryptocurrency exchange, unlike many other crypto exchanges, falls into the latter category. But when there is no delete button, the question occurs: how to delete a Crypto.com account?
In this article, we’ll give you a step-by-step guide to ensure a seamless experience.
Reasons to delete Crypto.com account
Crypto.com is a cryptocurrency exchange that offers services for buying, selling, and trading cryptocurrencies and NFTs. However, several factors might lead you to close your Crypto.com account.
If you’re considering deleting your account from the Crypto.com platform, there can be various reasons behind your decision.
Some of these reasons include security concerns, wanting more control over your private keys, seeking access to different cryptocurrencies not available on the platform, or simply not wanting to use the platform for personal reasons.
Some of these reasons also include:
- Quitting your crypto journey.
- Closing all your cryptocurrency accounts.
- No longer using your Crypto.com account.
- Clearing your digital footprint.
- Experiencing issues with the platform’s reliability, including customer service concerns.
Additionally, some users have expressed dissatisfaction with the platform, mentioning issues with staking requirements, rewards, and costs outweighing the benefits received.
Considering these factors, carefully assess your reasons for wanting to delete your account and evaluate the associated implications before proceeding with the closure.
Before closing or deleting an account
Firstly, make sure to withdraw funds from your account, as failing to do so will result in the loss of money. However, if the amount doesn’t meet the stated minimum limit, withdrawal may not be possible. In this case, contact the support team to assist in the withdrawal process.
The same goes for cryptocurrency holdings stored on your Crypto.com account. The first and most crucial step before deletion is to withdraw all your funds. Otherwise, you’ll lose all your digital assets after starting an account termination process.
To do this, obtain the correct wallet address of the coin/token you wish to transfer and then, using an external wallet address, proceed to withdraw it to your other crypto wallet.
Keep in mind that even after deleting your account, Crypto.com’s terms and conditions state that they will retain your personal information for at least 5 years. So, be aware of this data retention policy.
Moreover, you can’t use a card without an account. Therefore, closing your account means your Crypto.com App Account will be inaccessible, including your Crypto.com Visa Card.
Additionally, there is a $50 card closure fee for converting and returning the funds to your account.
Additional risks
It is essential to understand the risks associated with deleting an account from a cryptocurrency exchange. Besides losing access to your funds, you may also lose your trading history and other data stored on your account. This may lead to tax issues.
Make sure to back up all relevant information beforehand in case something goes wrong during or after the deletion process. If you have two-factor authentication enabled, disable it before attempting deletion to avoid access issues later on.
Remember that canceling your services with Crypto.com also means cutting off any linked services. For instance, the Crypto.com Visa Card will no longer be available, along with its associated discounts, cashback rewards, and travel insurance.
How to delete a crypto.com account?
To successfully delete your crypto.com account, follow these steps:
1. Write down the required information
On a blank sheet of paper, use a visible pen to fill out the following information:
- Your full name
- The date of the action (e.g., 11/8/2022)
- Write “Crypto.com” as the last statement.
2. Take a photo of yourself holding the paper
Take a clear photo of yourself holding the document showing dates, names, and Crypto.com written on it. Ensure the photo shows your face, upper chest, and entire arm.
This is for KYC purposes and security measures to prevent unauthorized account closure attempts.
3. Contact the Crypto.com support team and request to close the account.
Use the exact registered email address. Otherwise, Crypto.com will not handle your request.
Then, send your account closure request to contact@crypto.com with the subject line “Close Account.”
In the email body, provide a few reasons explaining why you want to close the account.
After sending the email, you will need to wait for a response.
4. Receive confirmation
Wait for a response after you send the account closure request. The support team typically responds within 24-48 hours. Please be patient during this process.
When your request is processed and your account is canceled, you will be able to delete any Crypto. com-related applications from your device.
Remember: after deleting your account, you will not be able to restore it. However, if you ever wish to use Crypto.com again, create a new account.
Also, note that deleting your account will not delete your data immediately. It may take some time due to compliance with government requirements and obligations in the countries where Crypto.com operates.
How do I cancel my Crypto.com Visa card?
If you have a Crypto.com Visa card and want to take specific actions related to it, you have two options:
Option 1: Cancel the card if you still want to keep your account on the platform.
- Spend the card’s balance down to zero before closing.
- Send an email to the Crypto.com support email address with the subject line: “Close Card.”
- In the body of the email, explain why you’re closing your card and indicate whether you would like a refund to your fiat wallet from the card. Note that a $50 fee will be applied to cover the processing costs if you request a refund.
- Within 24 hours, you should receive a reply from a Crypto.com support representative who will take up your request from there.
Option 2: Freeze your card if it is stolen, lost, or compromised.
- Log onto the Crypto.com app card page using your Android or iOS device. Tap on the card icon.
- Under the Visa card section, you’ll find the option to “Freeze” the card. Tap on the freeze icon and confirm your action.
- You will receive a notification confirming that the card has been frozen and de-linked from your Crypto.com account. You will receive this notification by email or text, depending on your chosen method.
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FAQ
What happens if I close my Crypto.com exchange account?
When you delete your crypto.com account, you lose access to your account and all services, including trading, wallet access, and other features. Make sure to withdraw all remaining cryptocurrency balances before closing the account.
Can I delete my Crypto.com account for free?
Yes, you can delete your Crypto.com account for free.
Can I freeze my Crypto.com account?
No, you can only freeze your credit card. Also, Crypto.com charges a fee for an inactivity year period.
Can I recover a closed account on Crypto.com?
You can only delete your Crypto.com account permanently. If you need to use the platform again, create a new account as a new user.
How long does it take to delete a Crypto.com account?
The time it takes to terminate your account on Crypto.com might range anywhere from one day to several days, depending on when you make the request. Also, be aware that you may deactivate your account only by sending an email.