TAFO wrote :
i said it man, as if i'm cropping with the rounded tool
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Well, I don't think that there is a way to do that with 'Crop tool' but I can tell you how to achieve such with 'Marque tool'
First open your image and make sure the image layer is turned in to 'Layer O' if not, double click on the 'Background' in the layer window and select OK from the pop-up window.
Then use 'Marque tool' to select the area that you wish to remain inside the rounded edge image.

Then, go to Select>Modify>smooth and enter 5 as pixel number (this number can be vary depending on the radious of the rounded edge you wish to have)
Then your selection will turn-out like this, (notice that the edges of the selection are rounded)

Then Press Ctrl+Shift+I to invert the selection,
and hit delete
Now, your canvas will be like this,

Then use 'Crop tool' to cut out the unnecessary area

Finally, save the image as .png format (neither .bmp nor .Jpeg image formats supports transparency. so if you save the file in one of them, the empty area of the edge will be replaced with White
)
So after you save the modified image as a .png format you'll achieve this
(an image with rounded edges.) 

Note:* There are many other ways in getting a rounded shaped edges for an image in Photoshop, but My idea is not to tell them all, but to help you to get a rounded edge for your image.
Remember:* Saving the image as a .png format is the most impostant thing 
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