My personal feeling is that if you are serious about persuing cryptocurrency investments and opportunities, you should join Binnance, Crypto.com, and all other established cryptocurrency exchanges. The truth is all coins are not available on all exchanges. ( At the time of this writing Crypto.com is offering $25 in free bit coin, just licke here for details )
Much like the New York Stock Exchange and NASDQ even though many of the most popular coins like bitcoin are available on all the stock exchanges. I have always recommended coinbase as the exchange to start with. In my opinion it is very user friendly and easy to use compared to most cryptocurrency exchanges.
At the present time if you click here and use this link COINBASE LINK they have a special offer where you can receive $25 in free bitcoin.
The cryptocurrency market is growing day by day and hence competition between different platforms has also taken place. Everyone trying to attract more users towards them with their features.
Crypto.com and Binance are the two most widely used platforms, for experienced it is easy to choose but for newbies, it is still confusing.
Choosing the right platform can help you to save money and time.
In this Crypto.com Vs Binance comparison, we will compare on the basis of security, ease of use, features, government compatibility, Support, and Fees.
About Crypto.com Vs Binance
Both Binance and Crypto.com are registered companies with government bodies. Also, both of these platforms also claim that they obey all local government laws and regulations.
Crypto.com was founded in 2016.
Kris Marszalek is the founder & CEO of the company he comes from Hong Kong. They have more than 10 Million users from 90 countries.
The executive team has more than 28 members while the total number of employees is more than 3K. More than 496 jobs are available while writing this article. Click here to check available jobs on crypto.com.
Binance was founded in 2017.
Changpeng Zhao is the founder & CEO of Binance and he is a Chinese-Canadian resident. The company was first operated from China but govt’s crackdown lead them to move to Japan
They have a team of more than 2K employees from 20 locations. They have available jobs that can be found on this page.
Crypto.com Vs Binance Security
Security is one of the most important things that every user should be aware of it. let’s check out the security of both platforms.
- 100% of all cryptocurrencies are held offline in a cold wallet.
- They have secured 750M in cold storage insurance physical damage.
- Uses multi-signature, key-generation, and HSM technology to secure funds.
- Hot wallet funds are corporate funds.
- Uses Multi-Factor Authentication.
- Received many certificates from security companies like ISO/IEC 27701:2019, PCI-DSS v3.2.1.
- SOC 2 Compliance
- A major chunk of user funds is stored offline or in cold storage.
- Supports 2FA it includes hardware, app-based, and email.
- All user’s data are stored are encrypted, data in transit is also safe because of end-to-end encryption.
- Supports IP & wallet address whitelisting plus API access and device management.
- They store 10% of trading funds to protect the share of users’ funds against any unconditional loss.
- Binance followed law enforcement from 80+ countries.
Crypto.com Vs Binance Past Hacks
Binance was once majorly affected by hacks in 2019 when hackers successfully stole more than 40 Million USD worth of Bitcoin only. But because of their SAFU funds users who lost their funds got returned by Binance.
Crypto.com never got hacked as per public news but there are some rumors that it got attacked by hackers many times but nothing got revealed by the team.
Binance Vs Crypto.com Customer Support
There are multiple methods to contact the crypto.com support team. You can contact them in their Live Chat using an app or website but it takes up to 5 hours to reply. You can also ask for help through email at firstname.lastname@example.org or they have a specific Twitter account for help https://twitter.com/cryptocomcs.
Limited methods to contact Binance. Their live chat is almost active every time hence there are more chances of getting with their live chat and there are no more methods available except filling the form for deposit.
In addition, both have a support page where you can find articles that covers every basic question.
Transaction fees are the matters a lot and it is one of the main reason to choose any cryptocurrency exchange. It affects the whole of your trading and profit amount.
Both of the platforms have different trading fees as per trading volume. The basic trading fee on Crypto.com is Maker: 0.4% Taker: 0.4%, so suppose if you trade $1000 then you have to pay around $4.00.
For Binance they do have 0.1% of Maker & Taker fee which means if you trade $1000 then you have to pay around $1.00.
Both of the platforms do have their own native coins, if you use their native coins to pay the trading fees then you will get a bonus on the trading fee.
Join using our link and save 40% of your trading fee.
Comparison Between Crypto.com and Binance
Following the comparison, on reports that are publically available on the date 09/Jan/2022.
|Hong Kong, China
|George Town, Cayman Islands
|Maker: 0.4% Taker: 0.4%
|Maker: 0.1% Taker: 0.1%
|An interest rate of 6.5% on crypto and 12% on stable coins
|Various currencies with a different interest rate
|Wire, ACH transfer, Debit & Credit Card
|Wire, Credit card, debit card, P2P, SWIFT
As previously stated, I see no reason why those that are serious about investing in cryptocurrencies shouldn’t have accounts set up at all reputable exchanges. Everyone has their favorite, many feel there is no crypto exchange that can compete with Binance in terms of what one exchange can offer to customers; this includes Crypto.com. If we compare these two exchanges in the area of trading fees, Binance has much less fees. Crypto.com wants to attract users on the opportunities it has in the field of staking and cash back when paying with a Crypto.com card.
Personally to this point my personal experience with Binnance has been a nightmare. It took over a month to get my account set up and they went weeks with no repsonse to customer service emails. Granted this was when they were converting USA citizens over to their Binnance US platform, but I was still very disappointed with their customer service. At the time they were the only platform that offered the HNT coin I wanted to purchase, or I would have just given up on the entire enrollment process.
In conclusion, it can be said that Binance is better exchange for users who want to trade cryptocurrencies, due to lower fees, and a large number of trading opportunities. For users who just want to buy, hold or pay with crypto; Crypto.com exchange is the better option.