Crypto.com vs Binance: Features, Differences & Fees
Nowadays, crypto exchanges are more than necessary platforms.
Managing your funds and assets in a decentralized environment provides a sense of financial security like never before.
Two of the major exchanges, Crypto.com and Binance, are constantly implementing innovative ways that contribute to the final global standardization of digital currencies.
When it comes to features, security, and options, these cryptocurrency exchanges are among the best of them all.
But a question that needs an answer arises: which one of these platforms is the best?
If you are wondering which crypto platform you must choose, then you have arrived at the right place.
In this in-depth comparative blog post, we’ll be giving you all the answers you are looking for regarding the following topics:
- Crypto.com vs. Binance: all you need to know;
- Factors to take into account when choosing a crypto trading platform;
- Advantages and disadvantages of both crypto exchanges.
The Importance of Choosing a Reliable Crypto Exchange
The cryptocurrency market is now bigger than ever before.
The crypto industry is growing at an unstoppable pace, doubling from 100M users to 200M users in just four months.
Crypto coins are taking the world by storm, but with more users around, the need to choose a really good crypto exchange space is now more present than it was just a couple of years ago.
The reputation of the exchange, transaction fees, accessibility, and overall features, are all important parameters that everyone should check.
At the end of the day, keeping your crypto assets safe and sound is a must for all crypto enthusiasts all over the world.
That’s why facing Binance against Crypto.com is so crucial, and we’ll do it right away in this blog post.
Pro Tip: Binance and Crypto.com are not the only exchanges out there.
You might as well compare Binance vs. Coinbase instead, but keep in mind that it all depends on your needs as a crypto user.
Binance vs. Crypto.com: Face to Face
Before starting the comparison, a couple of facts must be stated.
Binance is the biggest cryptocurrency exchange in the world, while Crypto.com “only” has around 10 million users.
There’s a big difference when it comes to market share, but how does this translate to overall features on the exchanges?
Truth be told, the different features that users access are similar from one platform to another, but there are still some crucial points that must be taken into account before making a final choice.
Note: This post has been written entirely for informational purposes. It should not be taken as investment advice or financial advice.
There are always risks in the cryptocurrency market, so be sure to perform your own research before investing your money in any kind of platform.
Crypto.com vs. Binance: Interface and Accessibility
First, let’s start with the simple: the interface.
There’s a mobile app for the Binance exchange and there’s a mobile app as well for Crypto.com.
Each app offers instant access to the different features available on the platforms.
Users of Binance are capable of managing their funds worldwide, while Crypto.com is available in fewer countries than Binance.
Nonetheless, beginner traders and users are often more comfortable browsing Crypto.com than Binance.
At first, Binance might feel kind of overwhelming for those who have no idea of crypto.
Later on, the platform becomes easy to manage thanks to projects like Binance Academy, but right off the top Crypto.com seems like the most straight-to-the-point platform of them both.
Read Also: Getting started on Binance is not hard, but it requires general knowledge of the platform’s features.
We have written a complete guide about How to Use Binance, so go and check it out so you can rapidly understand how to manage this exchange.
Binance vs. Crypto.com: Security System
Recently, hackers managed to steal $600 million worth of crypto from Binance.
This might create some concerns about the security features of each platform, which is totally understandable.
Nonetheless, even though this is indeed a very unfortunate event, the top grade security features implemented by Security Binance are actually among the best out there.
Two-Factor Authentication, secure asset fund, and total control for the users of their private keys are just some of the measures taken by this exchange.
On the other hand, Crypto.com enables Multi-Factor Authentication, which includes biometric scans, instantly reported fraud measures, insurance for the USA, and more.
Overall, they are both really secure platforms with excellent security features, but so far there have been no hacks on Crypto.com… which says a lot.
Binance vs. Crypto.com: Storing Your Digital Assets in the Crypto Space
Whenever you participate in the crypto market and obtain a profit, you want to get each asset you have in a secure location.
Crypto wallets are where your coins are stored, but how safe are they on these platforms?
Trust Wallet Infrastructure
Binance owns a separate non-custodial wallet called Trust Wallet.
This software wallet allows users to surf decentralized exchanges, store all kinds of assets, and even purchase crypto with their credit or debit card.
Being non-custodial, users have full control of their private keys, so it’s way safer than the platform’s hot wallet.
Pro Tip: Trust Wallet is not the only option for storing your Binance assets.
Users might as well send their tokens to other crypto wallets instead of keeping them on the platform hot wallet services.
However, Trust Wallet is very useful, and if you want to know more about it, then read our complete how to use Trust Wallet guide.
Crypto.com Wallets
Likewise, Crypto.com’s DeFi Wallet works similarly to Trust Crypto Wallet when it comes to storing assets in a decentralized, non-custodial, and cold storage environment.
Nonetheless, this wallet app is relatively new, so the Binance option has been more widely accepted by the general public.
Still, we can safely say that your assets are usually secure in your Crypto.com wallet address, so receiving crypto shouldn’t be a major problem for you.
Binance vs. Crypto.com: Main Crypto Operations
Now, let’s take a look at those features that crypto traders, holders, and buyers will undoubtedly use on both platforms.
Selling and Buying Crypto Currencies
You can sell, buy, and trade crypto with ease on both exchanges.
Binance definitely offers way more coins and assets than Crypto.com, which makes buying and selling better in Binance without a doubt.
USD Coin, Bitcoin Cash, BTC, ETH, Litecoin… there are more than 500 coins available on Binance, while there are only slightly above 200 coins on Crytpo.com.
Likewise, Selling Crypto on Crypto.com is very intuitive since the platform facilitates crypto debit card niches and wallet options both for newcomers and experienced users.
You can later on Transfer from Binance to Coinbase or Crypto.com if you please, but when it comes to buying and selling crypto, Binance is the absolute king.
Crypto Trading
Advanced traders will find interesting options on both platforms.
Crypto.com and Binance offer margin trading, derivative trading, market trading, and more.
The users trade coins easily on the platform, and since there are hundreds of trading pairs available on them, making on-chain transactions is usually quick and efficient.
Obviously, there are fees for trading payments transacted, but we’ll get to it.
Fiat Currency Withdrawals
Being centralized exchanges, you can start a wire transfer directly to your bank both on Binance and Crypto.com.
Withdrawing Money from Crypto.com via a bank transfer is easy in countries such as the United States, but tricky in others.
On the other hand, Withdrawing from Binance to Bank via a wire transfer is way more efficient, and there are lesser withdrawal fees than on Crypto.com.
There are other withdrawal fees to take into account depending on the kind of transfer you want to make, but overall, Binance makes withdrawing from crypto to fiat a really easy process.
Binance vs. Crypto.com Fees
No crypto exchange is free to use.
There will be fees one way or another, but they mostly depend on the trading volume or the specific operation you are making.
Without further hesitation, let’s take a look at the transaction fees.
Crypto.com Trading Volume Fees
Each transaction fee on Crypto.com is determined by a Maker-Taker scheme.
The base trading fee is calculated by a user’s trading volume.
The Maker-Taker fees usually go from 0.4% to 0.1% depending on the transaction, but overall, these trading fees based on a Maker-Taker model are way better for recurrent users and not for sporadic ones.
Likewise, you can check the actual cost of trading and withdrawal fees attached on the official Crypto.com Fees Website.
Binance Network, Transactions, and Trading Fees
Binance has the lowest trading fees of all exchanges out there.
These lower fees are one of the reasons why so many users decide to use this platform instead of others.
Fees can go as low as 0.02% or 0%, but then again, it depends.
Check the Binance Fee Page here.
Binance and Crypto.com Advanced Features
Binance and Crypto.com offer much more than just the previously mentioned features.
Both of them have great opportunities when it comes to enhancing experiences on the cryptocurrency market, so let’s look at the most relevant ones.
Binance Staking vs. Crypto.com Earn
Users can earn interest by holding coins in both exchanges.
Crypto.com motivates their users to hold CRO, which is the official token on the platform.
They do so via Crypto.com Earn, and there’s also a wide variety of currencies that can be staked in order to gain revenue over the medium and long haul.
Binance, on the other hand, motivates their holders to keep Binance Coin (BNB).
Binance staking is accessible for all those who want to do it, and the overall earnings are actually pretty good.
Binance Smart Chain vs. Crypto.org Chain
The exponential growth of both exchanges has created a window of opportunity for the platforms to implement their own blockchain networks.
Binance Smart Chain presents itself as a decentralized solution where making transactions is efficient, cheap, and fast.
Following the same principles, Crypto.org Chain is a next-generation public blockchain where many projects can come to life thanks to its open-source policy.
In general, both blockchains are pretty great for users and creators.
Binance and Crypto.com Premium Services
Crypto.com Cards allow users to access premium services built on a foundation of fiat-to-crypto benefits in a compliant payment gateway available for all.
Crypto.com users must hold CRO in order to be eligible for cards, but they are totally with the wait.
Binance also offers cards, but it is their Crypto Loans and P2P Platform that are the real stars of the show.
Overall, getting a loan from Binance is a very useful way to get started in the decentralized finances world.
Final Words - Crypto.com or Binance: Which One is Better?
Crypto.com and Binance have both proven to be extremely good alternatives for getting into the crypto world.
If we had to choose only one, we’d go with Binance.
Low fees, a wide variety of options, and overall unique features are just some of the reasons why Binance is so popular all over the world.
Nevertheless, the friendly interface of Crypto.com combined with its top-notch security measures makes it a pretty good option too.
At the end of the day, the choice is yours! For more crypto content, keep trusting on GrowFollowing as your main reliable source of information.
Crypto.com vs Binance FAQ
Can I Use MetaMask instead of Trust Wallet in Binance?
Yes, you can.
You can move your funds from Binance to your preferred crypto wallet by using your specific address.
Trust Wallet and MetaMask are two great options, so don’t hesitate to check our MetaMask vs.Trust Wallet article to learn more about them.
Are Crypto.com and Binance Better than Coinbase?
It depends on your goals, but overall, Crypto.com and Binance are some of the best Coinbase alternatives.
Remember that you should always do your own research before deciding where to invest your money.
Steve specializes in cryptocurrency and finance. As a born researcher, he won’t leave any stone unturned when it comes to topics he covers.