Crypto.com vs Binance: How Do They Compare in 2023?
Jack Moreau
Mar 2023
4 min to read
Fact checked
Introduction: Two of the most popular exchanges in the world are Crypto.com and Binance. In this comparison, we will discuss the pros and cons of Crypto.com and Binance, and look at their fees, security, and more. By the end of this comparison, you will have a better understanding of which platform is the best fit for your trading needs.
Crypto.com vs Binance: Overview
China, Albania, Ecuador, Moldova
China, Malaysia, Japan, UK, Ontario
Crypto.com and Binance are two cryptocurrency exchanges that are rapidly growing and becoming popular among traders around the world. While Crypto.com was founded in 2016 in Singapore, Binance was founded in 2017 in the Cayman Islands.
Both platforms are home to a significant number of employees, with Crypto.com having 4,000 employees, and Binance having 6,400 employees. In terms of coverage, Binance operates in 186 countries, while Crypto.com is available in 180 countries.
When it comes to users, Binance has a larger user base of over 120 million, while Crypto.com boasts 50 million users. Both exchanges offer mobile apps, with Binance's app being downloaded over 50 million times and Crypto.com's app over 10 million times.
Crypto.com vs Binance: Signup & KYC
When it comes to signing up for a crypto exchange, users want a platform that is easy to use and doesn't take too much time. Crypto.com and Binance both offer a simple and straightforward signup process that takes less than 10 minutes.
However, the KYC verification process can take longer on Binance, with some users waiting up to 2-3 business days. Crypto.com, on the other hand, typically completes verification in less than 10 minutes, with some cases taking up to 48 hours.
Crypto.com vs Binance: Products & Services
Crypto.com and Binance are two of the most popular and successful crypto exchanges in the world, providing a wide range of trading services for users.
While both exchanges offer spot, futures, margin, and perps trading, Binance also offers options trading and copy trading which is currently not available on Crypto.com. On the other hand, Crypto.com offers trading bots which is currently not available on Binance.
Besides these differences, Crypto.com and Binance are overall evenly matched when it comes to products and services as we can see in the table below.
Crypto.com vs Binance Fees
When it comes to trading fees, both Crypto.com and Binance offer some of the most competitive rates in the market.
For spot trading, Crypto.com offers lower fees than Binance with it's 0.075% for makers and takers compared to 0.1% on Binance. Crypto.com also has the advantage with lower futures fees of 0.017% (maker) and 0.034% (taker) while Binance has slightly higher fees of 0.02% for makers and 0.04% for takers.
In terms of fees, Crypto.com provides the most cost-effective option for both spot and futures trading, making it the preferred choice for traders looking to save money.
Crypto.com vs Binance: Deposit Methods
Crypto.com and Binance both offer users convenient ways to deposit funds, but Binance has a much wider offering.
Crypto.com only supports USD deposits via wire transfer, with no deposit fee. On the other hand, Binance supports 26 fiat currencies including EUR, AUD, GBP, and PLN, but not USD. Binance offers a variety of deposit methods such as Bank transfers via SWIFT, Signet, SEPA and FasterPayments. Binance also offeres deposit options via Visa, MC, PayID and Advacash. Binance charges a 1.8% fee for VISA/MC deposits and a 1 EUR fee for SEPA deposits.
Bank transfer, Visa/MC, SWIFT
Bank transfer, Visa/MC, SEPA
Bank transfer, SEPA, Visa/MC
Bank transfer, VIsa/MC, SEPA
Crypto.com vs Binance: Withdrawal Methods
When it comes to fiat withdrawals, Crypto.com only offers USD withdrawals via bank transfer and no fee. Binance offers USD withdrawals via SWIFT with a 1.8% withdrawal fee and EUR withdrawals via SEPA with a 1 EUR fee. Binance also offers GBP withdrawals via FSP and Bank Card with a 1.8% fee.
Bank transfer, Visa/MC, SWIFT
Is Crypto.com better than Binance?
Crypto.com and Binance are two of the largest and most popular cryptocurrency exchanges. Both offer a wide variety of coins, low fees and excellent security. Crypto.com is known for its easy-to-use mobile app and generous rewards program, while Binance offers a wide variety of trading options and advanced trading tools. Ultimately, it is important to choose the exchange that meets your needs best.
You should go with Crypto.com if:
- You want to use a more beginner friendly exchange
- You want access to a low cost trading platform
- You want to trade spot, perpetuals and futures
You should go with Binance if:
- You want access over 350 cryptocurrencies
- You want to trade with the most liquid exchange in the world
- You want access to a wide range of derivatives products
