Currently, the crypto industry is worth more than a trillion dollars, and the number of coins is increasing daily. To buy and sell cryptocurrency, we need crypto exchanges. It is a fact that money attracts scammers and thieves. The same case is with crypto exchanges. There are more than 500 crypto exchanges listed on Coinmarketcap. Most of them are only made to scam and steal users’ assets.
But there are some best crypto exchanges that are trustable and used by millions of users, FTX vs Crypto.com is one of them. Both, exchange ranks in the top 20 in the list of best exchanges of Coinmarketcap. Both offer some of the best features and security an exchange should offer.
But the main question comes, which one you should use if both are best, which one has more security, which one has fewer fees etc.
No worries, after using them for multiple years and doing research for months, we have found the pros and cons of both exchanges. It includes their Exchange Security, Available Coins, Fees, UI Or Ease Of Use, Availability, and Reputation.
After going through this post, you will be able to choose the right one for you, and also you will know in which condition you should use both of them.
FTX is a young but fast-growing cryptocurrency derivatives trading platform that offers a wide range of products including futures, options, leverage tokens, and spot markets. The exchange was launched in 2019 by Alameda Research, a quantitative trading firm.
To date, FTX has built up a solid reputation in the crypto community and is now one of the go-to exchanges for cryptocurrency traders and investors. The platform is also popular with institutional investors as it offers a wide range of features and products that are rare in the crypto landscape.
One of the key selling points of FTX is its user-friendly interface which makes it easy for both novice and experienced users to trade digital assets. The exchange is also known for its competitive fees, which are generally lower than those of other leading cryptocurrency exchanges.
FTX also offers a mobile app and an API for third-party platforms. The company is based in Nassau, New Providence, Bahamas, and has a team of around 100 employees.
- Solid platform for experienced traders looking to put in large amounts of volume
- Competitive fees compared to other exchanges
- Headquartered in Hong Kong
- Huge selection of cryptocurrencies
FUNDING METHODS: Debit & Credit Bank, Bank Transfer, Cryptocurrency, ACH
- Extremely low fees
- Top-level security
- Comes with an NFT marketplace
- Wide range of products with advanced trading features
- The US platform is much more limited
- Does not support some major cryptocurrencies
- Not available in all countries
Crypto.com is a multi-asset platform that enables users to buy, sell, and pay with cryptocurrencies. The company also provides a suite of products including the Crypto.com Exchange, a Card, and a Wallet.
Founded in 2016 by Kris Marszalek, Rafael Melo, Boby Bao, and Gary Or, Crypto.com is headquartered in Southeast Asia. The company has a team of around 1000 employees and is backed by big names in the crypto space such as BlockFi, Binance, and OKCoin. The company is also known for its high-profile marketing that includes appearances in F1 racing events, the NFA, NHL, and even in European football and more.
Crypto.com has built up a strong reputation in the crypto community and is now one of the go-to platforms for cryptocurrency users. The company is also popular with institutional investors as it offers a wide range of features and products that are rare in the crypto landscape.
One of the key selling points of Crypto.com is its user-friendly interface which makes it easy for both novice and experienced users to trade digital assets. The company is also known for its competitive fees, which are generally lower than those of other leading cryptocurrency exchanges.
- One-stop shop for crypto with a built-in exchange, app, lending platform, debit card, and more
- Native CRO token gives users a huge variety of perks and can be staked for over 10% APY
- Potential for earning a high amount of interest when storing digital assets on Crypto.com
- A long-term goal of building cryptocurrency adoption on whole
FUNDING METHODS: Crypto, bank transfer, credit card, debit card
- Industry-leading crypto-based Visa card
- Earn product lets users get a yield on their crypto
- NFT marketplace
- Limited educational resources
- The website can be overwhelming to new users
- Fees are higher on the app
FTX VS Crypto.com: Exchange Security
Both exchanges are secure and provide the highest level of security. Both store funds offline in cold storage and provide security features such as:
- Password Strength and 2FA Requirement
- 2FA for Withdrawals & Withdrawal Passwords
- Withdrawal Lock After 2FA Removal or Password Change
- Whitelisting IP’s
FTX: It is one of the most secure crypto exchanges that is used by millions of users. Since its launch in 2019, it has never faced any hacking or fund loss by technical problems. It is also known as the safest crypto exchange in the world.
Crypto.com: It is the first crypto exchange in the world to have ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013, and PCI-DSS v3.2.1 Level 1 type of security, but it still got hacked in recent years. A few months back, crypto.com admitted a $35 million hack from the users’ wallets. Hopefully, the exchange returned the assets to the users who got hacked.
According to the CoinGecko exchange trust score, FTX is in the 6th position and the Crypto.com is in the 12th position.
In the security comparison of FTX and Crypto.com, FTX is the clear winner.
Available Coins For Trading
Both exchanges have hundreds of coins listed on their platform, which means you will get a higher variety of assets to trade. It includes popular coins from multiple categories such as metaverse, Plays to Earn, Run to Earn, etc. Both exchanges list popular and fundamental coins.
FTX: Currently, the number of coins listed on FTX is 327. It includes all the major coins like BTC, ETH, BNB, and all the coins from the popular categories such as metaverse, NFTs, Web3, etc.
Crypto.com: It also has the major coins along with coins from popular categories. The number of coins listed on the crypto.com exchange is 230 which is less than FTX as it is mainly focused on beginners. Crypto.com mainly lists the coin which has a higher market cap and is popular in the community.
In the comparison of the availability of coins, FTX is the winner.
The most important thing you should consider while opening a new account on a new exchange is its fees. Most of the crypto exchanges don’t mention their fee structure and charge you hidden fees. But it is not the same with FTX and Crypto.com, they mention their fees to users and there are no hidden fees.
Here is the fees structure of both exchanges:
|Tier||30 D Volume (USD)||Maker Fees||Takers Fees|
You can also reduce your fees by holding FTX’x native coin called FTT. The fee rate after holding the FTT coin is given below.
|FTT Holding (USD)||Discount On FTX Trading Fees||Other Privilege|
|$1,000,000||40.00%||Become Tier 4|
|$2,000,000||45.00%||Become a VIP 3|
|$3,000,000||50.00%||Become a VIP 4|
|$4,000,000||55.00%||Become a VIP 5|
|$5,000,000||60.00%||Become a VIP 6|
|Level||30D Spot Trading Volume (USD)||Maker||Taker|
|Level 1.||> 250,000||0.0750%||0.0750%|
|Level 2.||> 250,000||0.0700%||0.0720%|
|Level 3.||> 1,000,000||0.0650%||0.0690%|
Conclusion: FTX Is a Better Option For Serious Traders
When it comes to the ultimate winner, it all depends on your criteria. For expert traders who want to have all of the tools they need for crypto trading, FTX is the superior option. The exchange provides a unique set of services and goods in the cryptocurrency market.
However, Crypto.com is the more well-rounded alternative of the two because it not only has minimal costs but also has an easy-to-use user interface and a variety of DeFi options.
Frequently Asked Questions?
What Is the Process of FTX Exchange?
With a leveraged token, FTX allows users to generate immediate gains. It also supports BTC options trading, which is a secure way for traders to profit from BTC market moves.
How secure is FTX?
A two-factor authentication mechanism protects FTX. This authentication is also supported by a multi-tiered KYC procedure. To begin trading, users must first complete KYC.
Is Crypto.com reliable?
While the Hong Kong-based corporation had a mixed image in its early years, it has made significant efforts to enhance confidence in its services. Measures to create trust include significantly better safety measures, many reward schemes, and decreased fees. As a result, the number of users has skyrocketed, surpassing 10 million in February 2021. With more and more people putting their faith in the platform, it’s apparent that the site has done an excellent job of mending its reputation.
Is it possible to withdraw money from Crypto.com?
Yes, there are several methods for withdrawing funds from Crypto.com: Withdraw your cryptocurrency to your crypto.com app or an external wallet. Users who create a fiat wallet can sell crypto to that wallet in order to withdraw cash in the fiat currency of their choice. With the crypto.com Visa card, you may withdraw cash from practically any ATM.
FTX VS Crypto.com – Which One Is Better?
Crypto.com features over 450 token pairs for spot trading and a daily trading volume of $ 350 million. FTX features around 420 token pairings for spot trading and a 24-hour trading volume of $ 2.2 billion. As a result, FTX’s volume is rather big in comparison to Crypto.com’s volume.