Swissborg vs Crypto.com: Fees, Features & Security
9 min read
Swissborg vs Crypto.com: Want to know which crypto exchange is right for you? We've done the research and compared both exchanges on everything from fees and product offerings to security features and user experience. Keep reading to find out which platform aligns with your investment goals and preferences.
Swissborg and Crypto.com are two popular cryptocurrency exchanges that are often compared due to their user-friendly interface and beginner-friendly approach.
Swissborg was founded in 2017 by Anthony Lesoismer and Cyrus Fazel, and is based in Switzerland with over 200 employees. It is available in over 50 countries around the world, with a user base of over 700,000 users across Europe.
The exchange offers a modern and user-friendly mobile app, making it easy for beginners to buy and sell a limited range of 50 cryptocurrencies, including Bitcoin, Ethereum, Swissborg Token, USDC, USDT, BNB, XRP, AVAX and others.
Crypto.com was founded in a year earlier in 2016 by Kris Marszalek and Bobby Bao, and is based in Singapore with over 4000 employees. It is available in 180 countries around the world, with an impressive 80 million users worldwide.
The exchange offers a comprehensive platform providing a range of services, including spot and margin trading, staking, lending, wallet services and much more. It also offers the Crypto.com Visa Card, which allows users to spend their crypto holdings and earn rewards.
Crypto.com boasts an extensive range of 250 cryptocurrencies available for purchase, including Bitcoin, Ethereum and many others. For those that prefer to use Crypto.com on mobile, all of it's services are also available on Android and IOS.
So while Swissborg offers a smaller range of cryptocurrencies and limited country availability, Crypto.com offers a wider range of services and an extensive range of cryptocurrencies.
Swissborg vs Crypto.com Signup & KYC
Swissborg and Crypto.com are both cryptocurrency exchanges that require Know Your Customer (KYC) verification in order to access their services.
Swissborg has strict verification requirements and it's not possible to access the app without being verified. The process of getting started with Swissborg is begins by users first downloading the app on either Android or IOS.
Once done, users must verify their phone number, create a 4 digit passcode and then pass KYC by providing personal details, email, residential address, identity verification and answering a questionnaire. Signing up to Swissborg is a more time consuming process than many other exchanges.
Contrary to Swissborg, Crypto.com has a simpler verification process and users can create an account with just an email and password. However, KYC is still required for all trading and other services on Crypto.com.
The KYC verification process with Crypto.com requires users to provide their full legal name and a picture of a government-issued ID. Similar to many other exchanges, Crypto.com may then take up to 1-2 business days to verify the account and enable it for trading.
Swissborg vs Crypto.com Products & Services
Now let's see what services each of these two exchanges offer. Swissborg offers a more limited selection of products to its users, with basic buying and selling of only 50 cryptocurrencies and the opportunity to earn interest on a selection of those.
Users on Swissborg can also earn interest on 16 digital assets including SOL, MATIC, BUSD, APE, ETH, DOT, AVAX, and others. Swissborg is also in the process of launching its own multi-asset launchpad where its users will eventually be able to access early-stage opportunities.
Swissborg also has its own native token called CHSB which benefits from the growth of the ecosystem. The user experience on Swissborg is limited to their mobile apps as no services are available via a browser like most other exchanges. Besides that, it's a beginner-friendly exchange that offers basic products and services in an easy-to-understand manner.
Crypto.com is the much larger and well known exchange with a much larger user base as well. The exchange offers trading services for over 250 cryptocurrencies and over 100 futures, perps, and warrants.
Liquidity on Crypto.com is in the top 20 categories with daily spot trading volumes in the range of $100-$300 million. The max futures leverage available on Crypto.com is 20X, and margin leverage is up to 3X.
They also offer trading bots to help out with basic functionality such as dollar-cost averaging and grid trading. Crypto.com also offers products and services more tailored to beginners with features such as lending and borrowing of digital assets, Crypto.com cards with cashback, and NFTs.
For institutional clients, they also offer an OTC desk. The user experience on Crypto.com is pretty ok overall with a good variety of products and services. The exchange satisfies the needs of both professional traders and more average beginners with spot and futures products.
Crypto.com is simply the much more versatile exchange that offers many more cryptocurrencies and products that are not available on Swissborg.
So Swissborg is down badly in terms of product range, is it able to compete in terms of trading fees? Let's take a closer look!
First up, the fees on Swissborg vary depending on the account status of each user. For exchange fees, they can range from 1% to 0.25% depending on whether the account status is Standard or Genesis.
Meanwhile, Thematics fees range from 2% for standard accounts to 1% for Genesis accounts. While these fees may seem a bit high, it's because they are!
Now, let's move on to Crypto.com which charges an incredibly competitive spot maker fee of 0.075% and a spot taker fee of 0.075%. For futures trading, the maker fee is 0.017% and the taker fee is 0.034%.
These fees are already lower than Swissborg's, but what's even better is that they can be reduced even further if monthly trade volumes exceed $250,000 or if users hold at least 1000 CRO tokens. That's a great incentive to keep trading on this platform and potentially save money in the long run.
As for deposits of fiat currencies, Swissborg supports four different fiat currencies including EUR, GBP, CAD, and CHF. For GBP, users can deposit funds via Faster Payments (FSP) or Swift transfers, while SEPA transfers are available for EUR deposits.
Those who wish to deposit CAD or CHF can do so via Swift transfers. In addition, Swissborg users can deposit funds with Visa or Mastercard. Deposits made from a bank account are free of charge, while deposits made with cards have a minimum fee of 5 EUR and range between 1.5% to 4.5%.
When it comes to fiat deposits on Crypto.com, only USD is supported for deposit via wire transfer. The good news is that there is no deposit fee for wire transfer or USD bank transfer.
Crypto.com also supports instant purchase with credit/debit card via MoonPay, Banxa, Advacash, and Simplex, but this is much more expensive with credit card fees ranging from 2-5% transaction fees.
For those that are looking for cheap withdrawals, Swissborg will disappoint as they charge a 0.1% execution fee for withdrawing fiat or cryptocurrencies, with a lower limit of 1 EUR and an upper limit of 100 EUR.
For cryptocurrencies, the minimum withdrawal fees are 0.0002 BTC for Bitcoin, 0.0018 ETH for Ethereum, 0.008 SOL for Solana, and 7 USDT for Tether. However, the bigger the amount, the bigger the fee, which can be costly for users.
On the other hand, Crypto.com only offers fiat withdrawals for USD via bank transfer with zero fees for USD bank withdrawals. For cryptocurrency withdrawals, the fees are 0.0001 BTC for Bitcoin, 0.04 ETH for Ethereum, 0.03 SOL for Solana, and 10 USDT for Tether.
While Crypto.com has lower withdrawal fees for cryptocurrencies, it is not as flexible as Swissborg in terms of fiat withdrawals.
In conclusion, Swissborg is a beginner-friendly exchange that offers a limited range of 50 cryptocurrencies and a modern mobile app. It has strict KYC verification requirements and a more comprehensive signup process.
The product range offered by Swissborg is quite limited and the trading fees are high. The same goes for withdrawals that can reach up to 100 EUR for both fiat and cryptocurrencies.
In comparison, Crypto.com is a much more advanced exchange that offers a wider range of services and an extensive range of 250 cryptocurrencies. It also has a simpler verification process and a quicker signup process.
When it comes to trading fees, Swissborg's fees range between 1-2% while Crypto.com's spot fees begin at 0.075% and can be further reduced through high trade volumes.
Swissborg supports more fiat currencies that can be deposited than Crypto.com but in our opinion, that does not matter as much when the product offering is as limited and the fees as high.
Crypto.com is clearly the better exchange not only for beginners who want to save on fees but of course for more advanced traders looking for a wider range of services and cryptocurrencies.
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Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.