Crypto.com vs. Binance 2023

Comparison Table

	Crypto.com	Binance
Amount of Cryptocurrencies	250+	600+
Trading Fees	Included in spread	0.1%
Deposit Fees	Credit/Debit card: 3.50% | PayID, BPAY: Free	Free
Withdrawal Fees	Free	Free
Payment Methods	Credit/Debit card, PayID, BPAY	PayID/OSKO

Crypto.com Pros and Cons

Pros

• Derivatives and margin trading are available on desktop exchange
• Insurance cover on crypto assets
• Lend and borrow crypto assets fast and easily
• Crypto.com Visa debit card comes with 5% cashback

Cons

• Crypto.com Visa card may need currency conversion fees

Binance Pros and Cons

Pros

• More than 600 available cryptos.
• The largest cryptocurrency exchange in the world.
• More than 30 fiat currencies.
• Some of the lowest fees among crypto exchanges.
• Numerous payment methods.
• Beginner-friendly, advanced, and pro-level trading features.

Cons

• US users need to use the Binance US platform, which has far fewer trading features and cryptos compared to the main Binance platform.
• The customer service is often unresponsive, and there’s no live chat feature.

Features

Binance and Crypto.com provide a range of crypto-related features and perks.

There is a Binance exchange is one of the largest worldwide. Apart from an array of coins, which number over 600, certain coin pairs are able to be traded at up to 10x leverage. Limit stops, market and stop orders are also supported.

Binance has recently launched an NFT marketplace to facilitate the creation, sale and buying of NFTs as well as the chance to you can win them with its Mystery Box Playground.

Crypto.com also offers an NFT marketplace, where users can are able to trade limited edition digital artwork and collectibles by the Blockchain. Aside from NFT marketplace, Crypto.com also offers margin/futures trading as well as Crypto.com Visa Card, and many more

Winner: Binance

Supported Cryptocurrencies

One of the most significant distinctions among Binance in comparison to Binance.US is the type of coins they provide.

Binance offers more than 600 stablecoins and cryptocurrencies for trading, which is among the most extensive numbers that are that are available on one platform. The complete list of the major cryptocurrency like Bitcoin and Ethereum is available here.

Crypto.com provides over 250 cryptocurrency and counting, including well-known currencies like Bitcoin, Litecoin, Ethereum, Ripple (XRP), and many more.

Winner: Binance

Fees

Binance is one of the lowest fees for trading of all exchanges with no commissions within the crypto industry that typically offer a less extensive range of. Binance and Binance.US charges are comparable however they are not exactly the same, users from outside the US receiving slightly higher rates.

Crypto.com utilizes a tied Maker-Taker fee structure which is based upon the amount of trades that are made in a 30 day period. Additionally, they are reported to charge spreads on trades, reportedly between 0.25 percent to 0.5 percent.

Winner: Binance

Customer Support

When visiting the Binance website users are initially connected via a chatbot in order to get their questions addressed. The chatbot shows the most crucial Frequently Asked Questions and elaborates on a subject after receiving your questions. The user is able to contact the customer support team in case the issue does not resolve. But, many customers were disappointed with the customer support’s slow response time. Because of the unpredictable characteristics of the market for cryptocurrency this delay could result in significant financial loss for investors.

Crypto.com provides customer support through an online help site, email as well as live chat. While Crypto.com’s customer support is not exceptional, some customers have complained of slow responses. A lot of people consider Crypto.com an online self-service portal because customer service can be a bit slow. It’s ideal for those who are familiar with financial services online and does not require any guidance.

Winner: Tie

Deposit Methods

You can add funds to your balance on account Crypto.com account by making deposits in any cryptocurrency you have and by depositing funds in Singapore Dollar (SGD) via third-party payment processors like Xfers as well as IBAN or by transferring USD in USDC through your multi-currency account in your Crypto.com wallet. To Australian users, customers can only deposit AUD, can’t be transferred via PayID or debit/credit cards, as well as the BPAY payment method to trade.

For Binance it’s the only provider that has OSKO together with PayID as options for depositing using the fiat currency for Aussie customers. But you can also transfer crypto into Binance’s Binance account.

Winner: Crypto.com

Security

Crypto.com’s protection features comprise multi-factor authentication and insurance and cold storage for users’ money. Additionally, Crypto.com possesses advanced security and privacy features like CCSS Level 3, ISO/IEC 27001:2013, PCIDSS v3.2.1 Compliance Level 1 as well as Tier 4. NIST cybersecurity and privacy frameworks. They also conduct reviews of the essential Blockchain technologies using renowned security auditing and consulting firms like Kudelski Security.

Many financial institutions are looking into Binance and its platform, which isn’t regulated in many countries which include that of the United States and the United Kingdom. Additionally, hackers stole 77,000 bitcoins from the exchange during an incident of security breaches in the year the year 2019. Binance has taken steps to reimburse customers for any losses that resulted in the aftermath of the attack, through the Secure Asset Fund and enhancing the security of its system by implementing more rigorous KYC and AML processes.

Winner: Crypto.com

Conclusion

Crypto.com along with Binance are both excellent however, if we had to choose one, it’s Binance. For investors who are new to investing and want an encrypting and secure storage space to store their cryptocurrency and then use their funds for “real life,” Binance is the ideal option. The mobile application and user interface of Binance makes the experience easy for novices. It also has an affordable pricing structure as well as an array of sophisticated options, such as leveraged margin/futures trading and staking, and the Binance Visa Card, etc.

Frequently Asked Questions

Does Crypto.com have a mobile app?

Crypto.com has developed its own mobile application, which enables its customers to purchase and trade cryptocurrencies in no time, from the convenience of their smartphones. The Exchange app is compatible with both Android and iOS platforms and may be obtained from both the Google Play Store or the Apple Store for free.

The Crypto.com app currently has a limited selection of trading tools in comparison to the web platform. These include: spot trading, deposits and withdrawals, stake and earn, CRO fixed staking, soft staking, lending, the syndicate, supercharger, as well as the referral programme.

What countries are supported by Crypto.com?

Based in Hong Kong, the Crypto.com trading platform offers its services to the residents of the United States, Singapore, the United Kingdom, and more than 30 European countries.

Does Crypto.com offer a wallet?

Yes. This platform provides a non-custodial Crypto.com wallet that can be downloaded as an individual app. It’s important to note that by utilizing this DeFi wallet for holding your crypto assets, you’ll be solely responsible for its private keys.

What is Crypto earn?

Crypto Earn is a Crypto.com product that allows users to earn returns on their cryptos. Specifically, by depositing cryptocurrencies, Crypto.com clients may earn up to 8% (this goes up to 14% for deposited stable coins) of interest which is reimbursed on a weekly basis.

Can I make money on Binance?

Binance is a great crypto platform for making money because it offers users numerous possibilities, from spot trading, margin trading, leveraged futures contracts, and P2P trading, all the way to numerous staking options, liquidity mining, crypto savings accounts, and a booming NFT marketplace.

Can you lose money on Binance?

Sure you can. Crypto trading is a very risky activity because cryptocurrencies are highly volatile assets with dramatic price fluctuations within small periods of time. That’s why trading cryptocurrencies is a high-risk endeavour, and you should never invest more than you’re prepared to lose.

How do I get my money out of Binance?

You can easily cash out your crypto into fiat currency by connecting and verifying a bank account on Binance. Once you connect a bank account, you’re ready to facilitate fiat currency transactions from the platform to your bank account.

Is it safe to link a bank account to Binance?

Linking your bank account to Binance is perfectly safe because the exchange platform keeps all user data protected by advanced encryption methods and doesn’t share any of that information with third parties.

How does Binance make money?

Binance makes money mainly from platform trading fees. Although the Binance fees are among the lowest in the industry, the platform manages to achieve high profits thanks to the fact that it’s the most popular exchange in the world, with the highest number of active users.

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