Crypto.com Onchain Wallet is the updated and rebranded version of Crypto.com exchange’s non-custodial ‘DeFi Wallet.’ Initially launched in 2020, it was revamped as Onchain Wallet in November 2024. This move aligned with the platform’s renewed vision of providing a one-stop everyday app to anyone interested in exploring Web3 and the broader decentralized ecosystem.
Available as a mobile app and browser extension, Crypto.com Onchain Wallet enables users to send, receive, and store 1,000+ digital assets, and perform a range of crypto-related activities across multiple blockchains.
As a self-custody hot wallet, it allows users to control their private keys and always stays online on the internet-connected device it’s installed on. Its key security features include local encryption of keys on your device, biometric protection, and two-factor authentication (2FA).
[Important note: Crypto.com exchange suffered a security breach in January 2022, with attackers withdrawing nearly $34 million from 400 accounts. All affected users were reimbursed. It had no direct connection with Onchain Wallet, but is worth noting while assessing overall company security.]
Crypto.com Onchain Wallet: Key Points
- Non-custodial hot wallet supporting 1,000+ digital assets across major blockchains.
- Includes in-app buying, swaps, DApp access, staking, NFTs, and perpetuals trading.
- Users control private keys secured by local encryption, biometrics, and 2FA.
- Safe when used with good practices, with some features varying by region.
Crypto.com Onchain Wallet: Functions and Services
Crypto.com Onchain Wallet packs several crypto trading and Web3 tools into one interface. Below are some of its core functions and services:
Supported cryptocurrencies and networks
The wallet can handle 1,000+ crypto assets across various blockchains, including major ones such as Bitcoin (BTC), Ethereum (ETH), and Crypto.com’s native blockchain, Cronos (CRO).
This multi-chain setup lets you manage diverse portfolios in one place, without using multiple wallets. Beginners can start with familiar assets and later expand to other cryptocurrencies as they learn.
In-wallet buying and swapping
You can buy crypto directly within the app using options like Apple Pay, Google Pay, credit/debit card, or by linking to a Crypto.com cash account for transfers.
Swapping tokens is another core functionality – think of it as exchanging one crypto for another without leaving the wallet. It uses decentralized exchanges (DEXs) – you select pairs, review rates, and confirm.
Connectivity to decentralized applications (DApps)
One of the standout features of Crypto.com Onchain Wallet is the in-app browser for connecting to DApps. This section can be used for activities such as staking, lending, borrowing crypto, playing games, or bridging (moving assets between chains). It’s like a gateway to the broader crypto ecosystem.
Staking and yield farming
Staking is provided by third-party protocols like Lido, EigenLayer, ether.fi, Lombard and others, via their respective DApps. It involves locking up assets to support the underlying blockchain networks and earning rewards. Options include flexible terms with varying returns based on the chain.
Yield farming, a more advanced form of earning by providing liquidity (funds) to protocols, can also be accessed via connected dApps.
NFT Support
Also offered via DApps, this feature lets you buy, store, and manage non-fungible tokens (NFTs – unique digital collectibles). You can connect to various marketplaces and view your collection on platforms like Magic Eden and OpenSea.
Perpetuals trading
Meant for advanced users, Crypto.com Onchain Wallet has a dedicated tab for perpetuals trading. It’s a type of derivatives trading wherein you can bet on crypto’s future prices without actually holding the assets.
You can even use leverage (borrowed funds) of up to 200x to amplify your exposure. However, both profits and losses are magnified equally. This feature’s availability and the extent of leverage may vary by geographic location.
Connection to the Crypto.com exchange
Users already having an account on the Crypto.com exchange can connect the Onchain Wallet to the platform and enjoy seamless fund movement between the two. That said, such connectivity compromises Onchain Wallet’s anonymity, as all Crypto.com exchange accounts must comply with KYC verification.
On- and Off-Ramp Capabilities of Crypto.com Onchain Wallet
On-ramps refer to ways to enter the crypto world by converting fiat money (traditional currency like USD) into digital assets, while off-ramps do the reverse, i.e. turning crypto back into cash.
The Crypto.com Onchain Wallet supports on-ramps via direct purchases with multiple options, including Apple Pay and Google Pay, as well as transfers from a linked Crypto.com app wallet. This eliminates the need for external exchanges.
Off-ramps are less direct because the wallet is non-custodial. You can swap crypto with stablecoins (coins pegged to stable assets like U.S. dollar or euro), then transfer them to the Crypto.com exchange or another platform to sell for fiat currency and withdraw to your bank account.
Integrations with payment providers facilitate these functions. These partner services (including the Crypto.com exchange) may levy their own charges apart from the network fees. There are no wallet-specific fees involved.
Please note that the coins/tokens available for purchase and payment providers may vary depending on your location.
Is Crypto.com Onchain Wallet safe to use in 2025?
The wallet emphasizes user-controlled security, with private keys stored and encrypted locally on your device (not the company’s servers) using ‘Secure Enclave’ technology, and protected by 2FA and biometrics.
This self-custody approach means you’re responsible for your keys. If they get lost, you’ll need the 12-word wallet recovery seed phrase to regain access. Therefore, this phrase should be backed up securely either to the cloud (for example, Google Drive) or by writing it down manually.
Onchain Wallet’s code isn’t fully open-source, but the company has obtained security certifications from organizations like the International Organization for Standardization (ISO), the International Electrotechnical Commission (IEC), and follows Payment Card Industry Data Security Standards (PCI DSS). It has ISO/IEC 27001, 27701 and ISO 22301 certificates, and PCI DSS v4.0 Level 1 Service Provider compliance.
It’s worth noting that the wallet’s parent platform, the Crypto.com exchange, witnessed a security breach in January 2022. The hackers stole nearly $34 million from around 400 accounts. The incident wasn’t directly related to Onchain Wallet, and all impacted users were refunded..
On the whole, the Crypto.com Onchain Wallet can be considered safe if you follow good security practices, such as avoiding suspicious links and not sharing the seed phrase with anyone. Combining a hot wallet with cold hardware wallets is usually recommended for large holdings.
Crypto.com Onchain Wallet FAQs
Do I need a Crypto.com exchange account to use the Onchain Wallet?
No, you don’t need a Crypto.com exchange account to use the Onchain Wallet, nor are you required to complete any KYC process.
Are there geo-restrictions for features?
Yes, some features like yield, swap, and perpetuals may not be available in certain jurisdictions due to regulatory or compliance restrictions.
Are there any fees for receiving and storing crypto?
The wallet app itself doesn’t charge any fee for receiving or holding crypto, but you still must pay standard blockchain (network/gas) fees for sending, swapping, or interacting with protocols.
Can I create or import multiple wallets?
Yes, you can create a new wallet or import an existing one via your recovery phrase. The wallet supports multiple wallet management from one interface.
Can I use this Crypto.com Onchain Wallet on a rooted or jailbroken device?
No, installing this wallet on a rooted (Android) or jailbroken (iOS) device is restricted because such devices may compromise the security of your recovery phrase and keys.
