Binance vs Crypto.com

Binance is one of the largest cryptocurrency exchanges in the world, and Crypto.com is on a path to offer all things crypto. Which is right for you?

As one of the largest crypto exchanges in the world, Binance is a top choice.

But competitor Crypto.com easily lives up to its name as a crypto destination.

In this detailed review, see how the two compare in coin selection, features, security, and availability. By the time you reach the end, you'll have all the info to decide which exchange is right for you.

	Binance	Crypto.com
	OFFER Buy and Sell Cryptocurrency - Learn More	SPECIAL OFFER Refer and Get Up to $2,000 - Learn More
	Benefits and Features
Cryptocurrency Trading
Minimum Deposit	$0 ($10 Trade Minimum)	$1
Cryptocurrencies Supported	600+	BTC, CRO, ETH, XRP, LTC, EOS, XLM, USDC, ATOM, LINK, XTZ, BCH, VET, ICX, ENJ, KNC, NEO, DAI, PAXG, BAT, COMP, OMG, QTUM, CELR, MKR, UNI, YFI, BAND, EGLD, WBTC, AAVE, DOT, REN, ONT, LRC, CRV, ZIL, GRT, BNT, KSM, SKL, NEAR, SNX, BAL, STX, DOGE, UMA, FLOW, SAND, ZRX, FIL, THETA, ANKR, CHZ, OCEAN, WAVES, RLY, STORJ, HOT, 1INCH
Countries Supported	Over 180	Worldwide in 100+ markets, depending on the legality of Bitcoin
Fiat Currencies Supported	AED, AUD, AZN, BGN, CAD, CHF, CLP, COP, CZK, DKK, EUR, GBP, HKD, HRK, HUF, IDR, ILS, ISK, JPY, KES, KRW, KZT, MXN, NGN, NOK, NZD, PEN, PHP, PLN, RON, RUB, SAR, SEK, THB, TRY, TWD, UAH, UGX, USD, UYU, VND, ZAR	Over 20
Digital Wallet	Yes	Yes
Transaction Fee	0.10% - 0.02%	Tiered Maker-Taker Fee Structure based on 30-Day Trade Volume from 0% to 0.075%
Copy Trading	No	No
Limit Orders	Yes	Yes
Margin Trading	Yes	Yes
Spread	0.01% - 0.92% depending on cryptocurrency	0.25% - 0.5%
Crypto Loans	Yes	Yes
Debit Card Purchase Fee	3.5% or $10, whichever is higher	0%
Mobile App	Yes	Yes
ACH Transfer Fee	No	No
Wire Transfer Fee	Free via SWIFT from USD to BUSD	No
Crypto Conversion Fee	No	No
Address Allowlisting	Yes	Yes
Anonymity	No	No
Biometric Login	Yes	Yes
Cold Storage	Yes	Yes
Maximum Trading Amount	Maximum order amount varies by currency	Maximum Trading Amount varies by coin: Bitcoin: 20, Ethereum: 480, Litecoin: 887
Two-Factor Authentication	Google Authenticator	Yes
Withdrawal Limit	2BTC / day for unverified accounts; 100BTC / day for verified accounts; Wire Transfer: $7,500,000 / day	10 BTC equivalent per rolling 24 hour period; $100,00 per day and $500,000 per month
	Buy and Sell Cryptocurrency	Refer and Get Up to $2,000 2% Deposit Bonus First 30 Days Fee Waiver
Binance: Pricing information from published website as of 04/13/2021. Crypto.com: Pricing information from published website as of 07/07/2022.

Keep reading to see how Binance and Crypto.com compare.

What are Binance and Crypto.com?

Binance
Founded in 2017 in Hong Kong by Changpeng Zhao and Beijie Technology, Binance is one of the largest cryptocurrency exchanges in the world. Binance moved its offices from China, first to Japan in 2017, then to Taiwan in 2018.

Since another move in April 2018, they have been headquartered in Malta.

Binance has been subject to more regulatory scrutiny than other exchanges. Binance was banned in the U.S. in 2019, leading them to open Binance.US, managed by BAM Trading Services and based in San Francisco.

A separate exchange, Binance.US is currently one of the top 10 exchanges listed on Coinmarketcap on its own, which ranks and scores exchanges.

Crypto.com
Another company that got its start in Hong Kong, Crypto.com was founded by Kris Marszalek and Bobby Bao in 2016, originally called Monaco.

While their main feature is their exchange, they offer a wide range of cryptocurrency services, like a pay feature, and an NFT marketplace.

Where are They Available?

Binance
Binance is available in over 180 countries worldwide with some restrictions. It is not available in the U.S., or at time of writing in the UK, where it does not currently comply with anti-money laundering rules.

Americans will be able to trade on Binance.US, which has some differences from the original Binance platform that we'll discuss below. It is available in 46 U.S. states, but is not supported in: Hawaii, New York, Texas, and Vermont.^[1]

Crypto.com
Crypto.com is available in over 100 markets, with more added regularly. Availability depends on the legality of cryptocurrency in a given region, which this article goes into.

In the U.S., they are available in all states except New York.

Crypto.com, but not their cards, are available in the following U.S. Territories: American Samoa, Guam, Northern Mariana Islands, Puerto Rico, Virgin Islands.

Pros and Cons

Both Binance and Crypto.com are some of the most comprehensive crypto platforms available on the market. They both offer extensive exchanges and extra features like

Binance Pros and Cons

Choose Binance if: If you're located outside the U.S.

Crypto.com Pros & Cons

Choose Crypto.com if: You're located in the U.S.

What Cryptocurrencies Do They Support?

One of the biggest differences between Binance and Binance.US is which coins they offer.

Binance
Binance offers over 600 cryptocurrencies and stablecoins for trade, one of the largest numbers available in one place. The full list, which includes all major cryptocurrencies like Bitcoin and Ethereum, can be found here.

Binance.US supports a more limited but still substantial range of currencies, numbered over 100, including the following:

• BNB, TetherUS, Bitcoin, VeThor Token, Ethereum, Storj, Harmony, VeChain, EOS, Dogecoin, Stellar Lumens, Helium, Litecoin, Zilliqa, Matic Network, Elrond, Enjin Coin, Hedera Hashgraph, BUSD, Chainlink, USD Coin, Tezos, OMG Network, ICON, QTUM, Basic Attention Token, Bitcoin Cash, Uniswap, Orchid, Ravencoin, Band Protocol, Zcash, Horizen, NEO, 0x, Ontology, Cosmos, Compound, Maker, MIOTA, Ethereum Classic, KyberNetwork, Waves, NANO, Augur v2, DAI, PAX Gold

Crypto.com
Crypto.com offers over 250 cryptocurrencies and counting, including popular coins like Bitcoin, Litecoin, Ethereum, Ripple (XRP), and more. View the full list in the drop-down below.^[2]

Binance vs Crypto.com Features

Binance and Crypto.com offer a wide variety of crypto features and perks. Review how their exchanges, rewards, loans and pay features compare below.

Cryptocurrency Exchange

Binance
The Binance exchange is essentially the biggest in the world. In addition to an extensive range of coins numbering over 600, some coin pairs can be traded for up to 10x leverage. Limit, market, and stop orders are supported.

While Binance.US offers a much more limited range of currencies, they support the same trading capabilities.

Binance (but not Binance.US) has also recently added an NFT marketplace that supports the creation, sale, and purchase of NFTs, and even win them through their Mystery Box Playground.

Crypto.com
The Crypto.com exchange lets users to buy, sell, and trade over 250 cryptocurrencies and stablecoins.

Residents of the U.S. will be hard-pressed to find an exchange that supports a wider variety of coins. They support margin trading up to 10x, limit orders, and derivatives with up to 100x leverage.

Crypto.com also has an NFT marketplace where users trade in limited edition digital art and collectibles hosted on the Blockchain.

Visa Cards

Binance
U.S. customers won't be able to get a card from Binance, but members of the following countries will:

• Austria, Belgium, Bulgaria, Croatia, Republic of Cyprus, Czech Republic, Denmark, Estonia, Finland, France, French Guiana, Germany, Gibraltar, Greece, Guadeloupe, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, Martinique, Netherlands, Norway, Poland, Portugal, Reunion, Romania, Slovakia, Slovenia, Spain, Sweden.

The Binance Visa card has zero fees and can earn users up to 8% cash back on eligible purchases. It allows you to hold crypto in your Binance Funding Wallet and spend it when you need it.

Crypto.com
Crypto.com has a range of Visa cards.

ATM withdrawal limits are from $200 - $1,000 / month.

A full list of card tiers and benefits can be found here.

Mobile Pay

Crypto.com
The Pay feature on Crypto.com's mobile app has lets users to pay merchants, buy gift cards and mobile minutes, and send crypto to others, in over 30 cryptocurrencies.

• Bonuses on gift cards range from 1.25% - 10%
  
• Mobile airtime purchases get 2.5% - 5% bonuses

Binance
Binance Pay is a contactless mobile service that lets you send and receive crypto from others. You can spend your crypto online or in-person with funds stored in your Binance Pay Wallet.

It supports the following cryptocurrencies:

• BTC, BNB, BUSD, ETH, ATOM, BCH, DOGE, DOT, EOS, ETC, FIL, HBAR, LINK, LTC, NEO, PAX, QTUM, TRX, TUSD, UNI, USDC, VET, WRX, XLM, XMR, XRP, XTZ, ZEC, USDT, FRONT, STRAX, ONE, EGLD and SXP.

It is available to users of Binance but not Binance.US.

Cryptocurrency Wallet

Crypto.com
Crypto.com offers custodial and non-custodial crypto wallets.

The custodial wallet saves traders network fees, as their trades are handled within the Crypto.com ecosystem. The non-custodial wallet ensures full control of private keys, but requires network fees to incentivize transaction processing on the Blockchain.

Binance
While you can store your coins on the Binance platform, they recommend using Trust Wallet to keep your crypto safe.

Borrow/Crypto Backed Loans

Crypto.com
Crypto.com offers limited crypto-backed loans. At time of writing, they are not available in the following places, including the U.S.:

• American Samoa, Antigua & Barbuda, Curaçao, France, French Guiana, French Polynesia, Germany, Gibraltar, Guadeloupe, Guernsey, Hong Kong, Macedonia, Malta, Martinique, Monaco, New Caledonia, People's Republic of China, Reunion, Saint Lucia, Saint Martin, Seychelles, Singapore, Sint Maarten, St Pierre & Miquelon, Switzerland, United Kingdom, United States

For those who can use it, Interest Rates depend on LTV (loan-to-value ratio) and CRO stake:

They are available in the following cryptocurrencies:

• Loan: USDC, USDT, BTC, ETH, XRP, LINK, DOGE, YFI, UNI, DAI, 1INCH, FIL, COMP, BAL. ENJ, CRV, LUNA, FLOW
  
• Collateral: CRO, LTC, BTC, ETH, VET, LINK, DOT, XRP, USDC, USDT, DAI, ATOM, BCH, XLM, WBTC, PAXG, UNI

Loan minimums are currently set equivalent to $100 USD. Retail users can borrow up to a maximum of $0.5 million USD equivalent. Loan Terms are 12 months.

Binance
For traders outside the U.S., Binance offers crypto-backed loans on a wide range of coins, with LTVs up to 65%. Margin call is set at 75%, and liquidation at 83% LTV.

Loan terms come in 7, 14, 30, 90, and 180 periods, with no penalties for early repayment.

Other Features

Besides their shared features, Binance has a number that are unique:

• Binance Liquid Swap: This is an automated market-maker (AMM) platform. It allows for more stable prices as well as lower fees for large transactions.

• Binance Smart Pool: Smart pool enables miners to work together as part of a larger mining group. They will then earn rewards proportionate to their participation.

• Binance Futures: A separate platform launched in 2019, Binance Futures allows users to trade certain coins at high rates of leverage, up to 125x. Account funding and balances payments are made in Tether (USDT). Be very wary trading with any degree of leverage.

• Brave Widget: Brave is an internet browser that strives to protect user data. Binance has released a widget that can be used to trade cryptocurrency through Brave.

• P2P Trading: For users who want to trade crypto amongst themselves, with no fees. Users set their own prices, the amount of currency they want to buy or sell, and wait for other users on the P2P platform to fulfill their orders.

Fees to Look Out For

Fees are a vital consideration when choosing an exchange. If you intend to be trading frequently, finding an exchange with low fees will save you a lot of money in the long term.

Binance
Binance offers some of the lowest trading fees of all non-commission-free exchanges in the crypto space, which typically have a far more limited selection. Binance and Binance.US fees are similar, but not identical, with international users enjoying slightly better rates.

Crypto.com
Crypto.com uses a tiered Maker-Taker fee structure, based on 30-day trading volume:

They also appear to charge a Spread on trades, reportedly ranging from 0.25% - 0.5%.

Other fees:
Crypto.com doesn't charge fees for Deposits.

They do charge Withdrawal Fees based on cryptocurrency. Some examples:

• Bitcoin: 0.0005 BTC
  
• Ethereum: 0.004 ETH (ERC20)
  
• Litecoin: 0.001 LTC

Credit Card Purchases of crypto incur a 2.99% fee in the U.S. and most countries, and 3.99% in a select few. There is 0% fee when topping up with a debit card. The full list can be found here.

Crypto.com Credit Cards vary by tier.

• There are no monthly, annual, or delivery fees.
  
• They all charge a 2% ATM Withdrawal Fee after a monthly limit which ranges from $200 to $1,000.

They charge:

• Inactivity Fee (12 months): $4.95
  
• ACH Return/Decline Fee: $15.00
  
• Card Replacement Fee: $7.00
  
• Card Upgrade Fee: $50.00
  
• Card Load using Credit Card Fee: 2.99%

Crypto.com DeFi Wallet incur Network Fees, used to incentivize transaction confirmation on the Blockchain. They vary depending on network traffic, and can be avoided by trading on the Crypto.com App.

When it comes to trading, Binance users will probably get slightly better trading rates than those at Crypto.com. However, the difference is small, and probably wouldn't be enough to deter all but the most frequent traders.

Security

Binance offers a range of security measures to protect your cryptocurrency and your personal information.

• Two-Factor Authentication: Binance currently supports 2FA via SMS message and Google Authenticator, and Yubikey.

• Withdrawal Address Whitelist: Users can whitelist of specific crypto wallets they want to allow withdrawals to.

• Trust Wallet: Official wallet available for iPhone and Android users.

• Secure Asset Fund for Users (SAFU): Binance pools 10% of transaction fees into a fund which can be used to repay investors in the event of a hack, as they did in 2019—over $40 million.

Binance has suffered a few semi-successful attacks (a large-scale phishing campaign in 2018 and a hack in 2019).

In each case, however, they showed an encouraging willingness to tackle the problem directly and compensate users who were affected, rather than denying or trying to hide.

Crypto.com employs the following security measures:

• Insurance: Cash funds are held in bank accounts FDIC insured for up to $250,000.

• Cold Storage: 100% of user funds are held offline in cold storage. Only corporate funds are held in hot wallets.

• Multi-Factor Authentication: Includes password, biometric, email, phone, and authenticator.

• Address Allowlisting: Mandatory for withdrawals. Only withdraw to specific set addresses.

• Bug Bounty: Ensures that hackers are incentivized to report security flaws instead of exploiting them.

• Advanced Security and Privacy Protocols: ISO/IEC 27701:2019; CCSS Level 3; ISO/IEC 27001:2013 and PCIDSS v3.2.1 Level 1 compliance; Tier 4 NIST Cybersecurity and Privacy Frameworks.

Bottom Line

Whether you choose Binance or Crypto.com may, in the end, come down to where you are. Binance is one of the largest cryptocurrency exchanges in the world, and for traders outside the U.S., it offers a nearly unparalleled range of coins to buy and sell.

Crypto.com has an impressive variety, though not quite as good as Binance's. But it does offer greater variety than Binance.US.

Both offer some of the most extensive features in the crypto space, from crypto-backed loans to cards and the ability to spend your crypto at merchants in real-time.

Binance, with their advanced trading features like Liquid Swap and Futures platform, generally has more to offer, but many of their features are not available to residents of the U.S.

Overall, Binance has more going for it as a platform, but users in the United States may prefer Crypto.com over Binance.US.

References