Steve Carney 
Crypto.com and Binance are two incredibly famous cryptocurrency exchanges and choosing between them can be a difficult experience . We have conducted a thorough comparison of the two platforms to help you with your decision process . Let’s delve deeper into the key factors for a thorough comparison .
Cryptocurrency Selection and Trading Fees
Binance offers a significantly larger selection of cryptocurrencies with over 500 available for trade when compared to Crypto.com’s offering of around 250 . This extensive selection on Binance provides investors with greater flexibility in choosing which coins to invest in . It’s worth noting that Binance US only offers around 50 cryptocurrencies and focuses only on the most prominent ones .
Both platforms impose maker and taker fees based on the trader’s 30-day trading volume . Binance has some of the lowest fees among non-commission-free exchanges while Crypto.com’s fees are also competitive . The difference in fees may not be noticeable unless you frequently trade on both platforms .
Crypto.com offers the opportunity to reduce trading fees by up to 100% through staking a significant amount of CRO . Through staking CRO on Crypto.com and paying trading fees in CRO traders can earn CRO refunds for fee discounts . Binance on the other hand provides a 25% reduction on trading fees for customers who hold a minimum quantity of BNB .
Cards and Mobile Apps
Crypto.com offers the Crypto.com Visa Card which provides various benefits which depend on the tier . The cards have no monthly yearly or delivery costs . Crypto.com imposes a 2% ATM withdrawal fee and a card replacement fee of $7 .00 . In contrast the Binance card has daily spending limits of EUR 870 for virtual cards and EUR 8,700 for physical cards with a daily maximum of 290 EUR . Payment and ATM withdrawal transaction fees on the Binance card can amount to 0 .9% and the replacement card fee is 25 EUR .
Crypto.com’s Mobile Pay app allows users to purchase gift cards, pay merchants, get NFTs send crypto to friends and top up prepaid phones with crypto . Crypto.com users who stake CRO are eligible for benefits such as earning up to 10% when purchasing gift cards and receiving a 10% commission when gifting crypto to friends . Binance also offers a Pay option for sending and receiving crypto but it is currently only available to Binance .com users only .
User Interface and Wallets
Crypto.com is known for its user-friendly exchange interface which makes it an ideal choice for newcomers . The platform offers a basic and intuitive interface that caters to both beginners and advanced traders . It provides the necessary tools for complex transactions while remaining accessible for newer users . Binance may be more confusing for beginners but offers a range of advanced features not available on Crypto.com . Binance is better suited for seasoned traders who require greater control over their trading experience like leveraged trading and futures contracts .
When it comes to wallets Binance provides a wallet that allows users to store multiple cryptocurrencies . However Binance has experienced some problems with security in the past which raised concerns about its security measures . In contrast Crypto.com offers both custodial and non-custodial wallets which provides users with multiple storage options . The Crypto.com Defi wallet as a non-custodial wallet grants users complete access and control over their private cryptographic keys .
Security and Regulation
Crypto.com boasts strong security features including multi-factor authentication, insurance coverage, cold storage of funds and compliance with industry standards such as CCSS Level 3, ISO/IEC 27001:2013 and PCI-DSS v3 .2 .1 Level 1 . The platform undergoes inspections by reputable security consulting and auditing organizations .
Binance has faced regulatory inspection in several areas like the United States and the United Kingdom . The platform is unregulated in many regions and multiple financial institutions have initiated investigations into its operations . Binance also suffered a security crack in 2019 which resulted in the loss of 7,000 bitcoins . The exchange has taken action to make up for customers losses to customers and has applied increased security measures like stricter KYC and AML procedures .
Final Thoughts
While both Crypto.com and Binance are reputable cryptocurrency exchanges Crypto.com appears to take the lead . It offers a user friendly platform which makes it suitable for beginners and a range of advanced features for experienced traders too . With its competitive pricing structure extensive cryptocurrency selection and comprehensive offerings such as margin/futures trading and the Crypto.com Visa Card Crypto.com provides a well-rounded experience for cryptocurrency enthusiasts .
