Introduction
FTX VS Crypto.com. The value of the cryptocurrency market is currently over $1 trillion, and new coins are being created every day. Crypto exchanges are required to purchase and sell cryptocurrencies. Money does draw con artists and robbers. The same is true with cryptocurrency exchanges. On CoinMarketCap, there are more than 500 cryptocurrency exchanges listed. Because most of them are designed solely to defraud users and steal their assets.
However, there are a few top cryptocurrency exchanges that are reliable and utilized by millions of customers; two of them are FTX and Crypto.com. On CoinmarketCap’s list of the top 20 exchanges, both exchanges are ranked. Both provide some of the best security and functionality that an exchange ought to provide.
But the real issue is which one, if both, is better because it offers more security or lower costs, etc.
No worries, we have discovered the benefits and drawbacks of both exchanges after using them for many years and conducting months of research. Because It includes their reputation, availability, fees, UI (or ease of use), availability of coins, and exchange security.
After reading this article, you will be able to select the option that is best for you and understand the circumstances under which you should employ both of them.
FTX VS Crypto.com: Exchange Security
The highest level of security is provided by both exchanges. Both offer cold storage for funds that are stored offline and security features like:
- Password Strength and 2FA Requirement
- 2FA for Withdrawals & Withdrawal Passwords
- Withdrawal Lock After 2FA Removal or Password Change
- Whitelisting IP’s
FTX: One of the safest cryptocurrency exchanges, with millions of users. It has never had a hacking attack or financial loss due to technical issues since its 2019 start. The world’s safest cryptocurrency exchange is another name for it.
Crypto.com: Despite being the world’s first crypto exchange to hold PCI-DSS v3.2.1 Level 1 security, ISO 22301:2019, ISO/IEC 27701:2019, and ISO/IEC 27001:2013 certification, it has recently been hacked. A $35 million breach from user wallets was revealed by crypto.com a few months ago. We can only hope that the exchange gave the hacked users their valuables back.
FTX and Crypto.com are ranked sixth and twelve respectively in the Coin Gecko exchange trust score.
FTX is the undisputed winner in the security comparison between Crypto.com and FTX.
Coins That Are Available For Trading
You will have access to a wider range of trading assets thanks to the fact that both exchanges have hundreds of coins listed on their platforms. Popular coins from a variety of categories, including metaverse, plays to earn, runs to earn, etc. are included. Both exchanges list well-known and essential coins.
FTX: There are currently 327 coins listed on FTX. It includes every significant coin, such as BTC, ETH, and BNB, as well as every coin from the most well-known groups, including metaverse, NFTs, Web3, etc.
Coins from popular categories are available on Crypto.com, along with the big coins. As it is primarily targeted at beginners, the crypto.com exchange has 230 fewer coins listed than FTX. The majority of the coins that Crypto.com covers have a large market valuation and are well-liked by users.
When comparing coin availability, FTX comes out on top.
Fees
The fees associated with opening an account on a new exchange are the most crucial factor to take into account. The majority of cryptocurrency exchanges charge you hidden costs and don’t disclose their fee structure. However, FTX and Crypto.com are different in that there are no hidden fees, and their fees are disclosed to users.
The cost breakdown for both exchanges is as follows:
FTX Fees
FTX is a popular cryptocurrency exchange platform that allows users to buy, sell, trade, and store cryptocurrencies. Like any exchange, FTX charges fees for its services.
Here’s a breakdown of the fees associated with FTX:
- Trading fees: FTX charges a variable trading fee, ranging from 0.02% to 0.07%, depending on your 30-day trading volume and your level of FTT staking. The higher your trading volume and FTT staking level, the lower your trading fee will be.
- Deposit and withdrawal fees: FTX does not charge any fees for cryptocurrency deposits, but there may be blockchain network fees associated with the transfer. Withdrawal fees vary depending on the cryptocurrency and the withdrawal amount.
- Spot Margin Trading fees: FTX allows users to trade on margin, which means you can borrow funds to increase your buying power. Interest rates for margin trading vary depending on the cryptocurrency and the amount borrowed.
- Futures Trading fees: FTX offers futures trading for a variety of cryptocurrencies, which has a separate fee schedule. The trading fee ranges from 0.02% to 0.05% for futures trading, depending on your 30-day trading volume.
- Leveraged Tokens fees: FTX offers leveraged tokens, which allow users to take a leveraged position in cryptocurrency without having to manage margin. The fees for leveraged tokens vary depending on the token and the duration of the position.
- Options Trading fees: FTX offers options trading for a variety of cryptocurrencies, which has a separate fee schedule. The trading fee for options ranges from 0.04% to 0.15%, depending on the strike price and expiration date.
Holding the native coin of FTX, called FTT, will also lower your fees. The charge rate is provided below after holding the FTT coin.
Crypto.com Fees
FTX is once again the winner after looking at their fee rate.
Crypto.com is a popular cryptocurrency exchange platform that allows users to buy, sell, trade, and store cryptocurrencies. Because, like any exchange, Crypto.com charges fees for its services.
Here’s a breakdown of the fees associated with Crypto.com:
- Trading fees: Crypto.com charges a variable trading fee, ranging from 0.1% to 0.4%, depending on your 30-day trading volume and your level of CRO staking. The higher your trading volume and CRO staking level, the lower your trading fee will be.
- Deposit and withdrawal fees: Crypto.com does not charge any fees for cryptocurrency deposits, but there may be blockchain network fees associated with the transfer. Withdrawal fees vary depending on the cryptocurrency and the withdrawal amount.
- Credit/debit card fees: If you choose to buy cryptocurrency using a credit or debit card, Crypto.com charges a 2.99% processing fee.
- Crypto Earn fees: Crypto.com’s Crypto Earn feature allows users to earn interest on their cryptocurrency holdings. The interest rates vary depending on the cryptocurrency and the length of the term, but there are no fees associated with using this service.
- Crypto Credit fees: Crypto.com’s Crypto Credit feature allows users to borrow against their cryptocurrency holdings. Because interest rates vary depending on the cryptocurrency and the loan-to-value ratio, and there is a 1% origination fee.
It’s important to note that fees are subject to change and may vary depending on your location and account level. Because It’s always a good idea to check the Crypto.com website for the most up-to-date fee information.https://moneydigitals.com