Binance vs Crypto.com: Fees, Features, Security, Customer Support Compared.
The cryptocurrency industry has been on an upward trend in recent years. Success in cryptocurrency largely depends on the ability to identify the right market trends which are in turn determined by the type of cryptocurrency exchange you select. In this article, we give a detailed side-by-side comparison of two of the top trading platforms (but not only trading, as both rapidly expand 바이 낸스 리뷰 장단점 their offering and grow into real ecosystems) for cryptocurrencies; Binance and Crypto.com.
For newcomers in the crypto industry, selecting the right trading platform may be a challenge, especially considering that recent years have seen an explosive growth of Decentralized Finance (DeFi). Factors to consider when selecting a crypto trading platform include security, fees, user experience, and the type of crypto assets supported among others.
What you'll learn
Quick 1-minute recap:
If you are a US-based user, there is no dilemma for you: Crypto.com is the exchange to choose since Binance is not available to you and Binance.us is a pale copy of its mother-company.
As for the rest of the world – Binance is by far the better exchange to use. The sheer number of features and the fact that you can use it with no KYC (up to certain amounts of crypto: 2BTC daily withdrawal limit which will suffice for the vast majority of crypto traders) speak for Binance.
Binance has more listed coins than Crypto.com, has lower fees, has more additional features (savings, launchpad, NFT marketplace, loans, derivative trading etc).
When it comes to customer support and masamang pagsusuri sa binance regulatory status – Crypto.com is the winner. It is a registered and US based company that strictly adheres to the pertinent laws and regulations in the US. As for Binance, they hide their headquarters like a snake hides its legs. Their customer support is overwhelmed with tickets most of the time and stories about inexplicable account freezes, fund lockups and similar restrictions are very common. However, considering the millions of users Binance has, these represent an extremely tiny percentage which means that Binance still does a good job when it comes to its customer support.
Before we move on, here is a full Binance review. Click here to read a complete Crypto.com review.
Binance is a leader in the cryptocurrency industry and supports more than 200 cryptocurrencies. It is the largest cryptocurrency exchange platform in the world in terms of trade volume. The Binance crypto trading platform offers some of the most competitive rates in the industry and is suited for both beginners and seasoned traders.
The company was founded by its current CEO Changpeng Zhao back then in 2017 and it has its headquarters in Malta. The exchange offers investors the widest variety of crypto assets to invest in.
Crypto.com is a cryptocurrency staking and investing platform founded in 2016 by four founders Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. The company has its headquarters in Hong Kong.
Crypto.com users can buy, sell, trade, and earn interest from their cryptocurrencies using a mobile app on their phones. The platform has its own native cryptocurrency called CRO which holders can use to pay for goods and services in the Crypto.com Wallet App. The platform allows users to swap or stake CRO coins in order to boost their yields.
Factors to consider when selecting a trading platform include;
The reputation of each exchange Transaction Fees Accessibility of Services and Funds.
The Reputation of Each Exchange.
The reputation of the exchange is very important in ensuring that you are placing your assets in the right hands. It is indicative of how secure your money will be in an exchange’s wallet.
Fees have an impact on the level of profit from any trading activity. Both Binance and Crypto.com have varying fees on various transactions like deposits, withdrawals, and בינאַנסע אַפּי שליסל transfers of crypto assets. You, therefore, need to pay a lot of attention to all the fees on the various transactions.
Accessibility of Services and Funds.
You also need to ensure that the platform selected is easily accessible and also offers instant trading. This gives traders the ability to track any small changes in the market and take remedies to protect their assets from loss.
Last but not least, you want to ensure accessibility to the funds you trade. It requires finding a platform that offers instant access to your funds. You’ll need to explore issues such as liquidity, the efficacy of a platform’s hot wallet, and се осигурени средства за бинансирање its capacity to match orders in real-time.
Binance vs. crypto.com: Supported Currencies.
Binance is known for having a wide variety of altcoins with more than 500 altcoins available to non-U.S users. The platform however supports 52 coins on its Binance.US version. Coins traded on Binance include Dogecoin (DOGE), VeThor Token (VTHO), Harmony (ONE), VeChain (VET), and BND to name a few.
Currently, Crypto.com supports 87 coins including AAVE, BNT, BTC, and لږ تر لږه تجارت CELR.binance wer besitzt
vs. crypto.com: Security.
Binance has faced security scares since its launch. In 2018, an attempted breach into Binance was flagged by the platform’s security system which prevented the hackers from withdrawing members’’ funds.
There are several features and strategies that Binance has implemented to secure its members assets;
The users’ accounts are password protected and the users maintain full control of their accounts and توییتر binance assets. The Two-Factor Authentication (2FA) through Google Authentication and SMS. While SMS is an open option, Google Authentication is recommended as sim swapping may land the users account in the wrong hands in case the user’s simcard is replaced by fraudsters. Binance has another security feature called Address Management, where users can manage and limit the number of wallet addresses that can withdrawal funds. Binance also supports U2F-compatible authenticators like Yubico YubiKey that protect the user’s account and only grant access if the user plugs then into the computer or paired via a wireless connection.
Below are strategies undertaken by Crypto.com to secure members’ assets;
The platform operates a Zero Trust, Defence in Depth security strategy across its platforms and systems where data privacy assessments are built into the all processes to safeguard users’ personal information. Crypto.com has a long-standing strategy of strengthening its security features by implementing the latest security software. The company has a dedicated team that screens all assets deposited on Crypto.com for compliance. Crypto.com has signed a strategic partnership with Ledger for integration of the Ledger Vault, an institutional-grade custody solution. The exchange also leverages hardware security modules (HSM) and multi-signature technologies.
Binance vs. Crypto.com: Fees.
In terms of pricing and fees, Binance offers some of the lowest fees in the crypto industry. Users with less than 100 Bitcoin in trading volume pay 0.1 percent every 30 days. In addition, users hold a predetermined amount of Binance’s native token, BNB can access a 25% special discount on all trades. In addition, they get an additional 25 percent when they settle the fees in BNB.
On the other hand, traders on Crypto.com do not pay any fees transferring their earnings into the Crypto.com wallet. However, this provision does not include on-chain transactions. In addition, there are other withdrawal fees attached to payments transacted to other crypto wallets. The final charge on Crypto.com depends on the type of cryptocurrency being withdrawn.
Trading fees on Crypto.com are tiered-based and start from 0.10% for makers and 0.