Crypto com vs Binance – Which is the Best

Among the wide choice of cryptocurrency exchanges, each one, in one way or another, stands out for its own characteristics. This applies to user requirements (including disclosure of personal information), the range of functions available, transaction fees, and many other factors. Therefore, choosing the right exchange for trading often takes time.

In this article we looked at a couple of exchanges - Crypto.com vs Binance. A thorough comparative analysis of their features, advantages and disadvantages was conducted, making it easier to decide on the appropriate exchange.

Advantages and disadvantages of Binance

About Crypto com exchange

Crypto.com is a multifunctional cryptocurrency platform founded in 2016, including an exchange (spot, futures, margin trading), payment service, NFT-marketplace, loans and deposits, plastic card issue, DeFi-Wallet, CRO service token. It is stated that the platform is used by more than 100,000,000 traders and investors. More than 140 cryptocurrencies and 250 trading pairs are represented on Crypto.com. The exchange can be accessed both from a browser and via a mobile application for Android or iOS.Paxful is a p2p service for instant exchange of Bitcoins in more than 353 ways through direct transactions with other members of the system. The platform provides an opportunity to buy or sell Bitcoin cryptocurrency (BTC). You can withdraw the funds received to a bank account in any country; through the transfer of cash; by electronic money PayPal, Advcash, Payeer, Yandex, Qiwi, etc.; by exchanging for gift cards iTunes, Amazon; exchange for many other cryptocurrencies; make purchases in stores (the latter possibility is still in development). Read the current review of the Paxful platform at Profinvestment.com.

About Binance Exchange

Binance Exchange was launched in early 2017, and this launch was preceded by an ICO. Through crowdfunding, the site raised the necessary amount for its development (about $15 million), and investors received the system's internal tokens called Binance Coin (BNB). Despite its relatively recent launch, both the exchange itself and its coin have received extensive publicity. In particular, Binance has taken the honorable first place in terms of daily turnover.

Comparative analysis of Crypto com and Binance exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

Cyrpto com offers: 

Binance offers:

Available countries

Crypto com and Binance exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your Crypto com and Binance account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on Crypto com and Binance.

Available Cryptos and Tokens

Crypto com currently supports 226 trading pairs and 392 coins. 

Binance supports 357 trading pairs and 1466 coins.

Regulation

There is no information about the Crypto com regulation and the corresponding license.

The most popular crypto exchange has changed jurisdictions several times during its existence, and there have been many rumors about it (Caymans, Malta, Singapore, Seychelles). The platform is actively recruiting regulatory staff and working towards licensing in major states.

At the moment, the legally independent Binance US platform for the US is fully legal. A list of licenses and regulators for each state is here.

Interface

The interface of the exchanges is quite convenient and clear. Any user can immediately understand all the functions. Do not worry, if you do not understand something, you can always see the training and tips.

Verification (KYC)

Verification on the Crypto com platform is mandatory. Without it, there is no access to any of the exchange functions.
Therefore, immediately after registration a page appears, you must enter information about yourself: name, surname, patronymic (optional). The next step is the identification of documents. You can choose a passport, driver's license or ID-card.

Confirmation of personal information on Binance Crypto Exchange is required for any transactions with cryptocurrencies or fiat. You should also know that the verification process at Binance must be completed within 15 minutes. It is not allowed to refresh the page, restart or disconnect the Internet. There are 3 attempts daily to do everything without difficulty.

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

Crypto com:

Binance:

Account security

At Crypto.com we always put security first. Data security and privacy assessments are built into our processes, so you can rest assured that your funds are safe.

Security at Binance is ensured through: Two-factor authentication, Password, Phone and mail binding, Output address whitelisting, Binding hardware key. Control of IP addresses and devices used for logging, Anti-phishing code.

Passive earn on exchanges

Cyrpto com offers a wide range of tools for passive income.

The Binance Earn platform is known for its wide range of investment plans and tools for crypto owners. It includes bicurrency investments, fixed and flexible deposits, stacking, pharming, IEO. Periodically updated with new features as the crypto market develops and new trends emerge.

Which to choose - Crypto com or Binance

Surely, based on all of the above, you have already made up your mind.
If you are looking for the most liquid platform, with large trading volumes, a wide range of cryptocurrencies and functions, an excellent set of protection measures - choose Binance. Binance is better than Crypto com by all parameters.

Disclaimer:

NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

How do I withdraw from Crypto com?

Withdrawing from Crypto.com is a simple process that can be completed in just a few steps. First, you'll need to log in to your account on the Crypto.com website. Once you're logged in, you'll visit the withdraw section of the website and select the cryptocurrency you wish to withdraw. After selecting your cryptocurrency, you'll enter the amount you wish to withdraw and confirm your withdrawal. Once your withdrawal is confirmed, it will typically be processed within 24 hours.

Does Crypto com own your crypto?

Crypto com does not own your crypto. It is a cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies. It is one of the most popular exchanges in the world and has been operational since 2019.

Is crypto com'a China company?

Cryptocurrency exchange Crypto.com is headquartered in Hong Kong, with a secondary office in Singapore. The company was founded in March 2019 by Kris Marszalek and his team, including Kenetic Capital co-founder Jack Yeu. Crypto.com offers a mobile app that allows users to buy, sell, and store cryptocurrencies, as well as make payments with crypto.

What is safer than Binance?

Binance is the most reliable exchange available, but it's not without risk. 
Some other exchanges that are considered safe include Bitfinex, Kraken, Coinbase, Bitpanda. These exchanges are all more reliable than many of the smaller, lesser-known exchanges. However, it's still important to do your own research before trusting any exchange with your money.

Why is Binance not good?

Binance is frequently criticized for its high fees. While it's true that Binance charges higher fees than some other exchanges, there are also a few reasons why this might not be such a bad thing.
For one, the higher fees help to offset the costs of running a large exchange. Binance is one of the biggest cryptocurrency exchanges in the world, and it takes significant resources to maintain such a platform. The higher fees also help to encourage users to trade actively on the platform, which adds to its overall liquidity.
Another potential benefit of Binance's high fees is that they may actually help to discourage market manipulation.

Conclusion

Both crypto com and Binance are quality projects, developed by professionals and actively developing. Both exchanges have good liquidity and high trading volume in popular pairs, support popular cryptocurrencies, offer different deposit/withdrawal methods, and acceptable trading commissions. When choosing between the platforms, pay attention to the functions, which are important for you personally, and, of course, to the availability of platforms for work in specific countries.