The Crypto market is on fire. From Bitcoin to Ethereum and XRP, every token is surpassing new records making common people billionaires. It’s quite visible, though, that the market cap crossed $ 1 TN, and Bitcoin contributed more than half of the total.
Various exchanges allow users to trade these coins. Crypto firms and Binance are some major exchanges. However, they are not the same.
Key Takeaways
- Crypto.com offers a wider range of financial services, including loans and credit cards, while Binance mainly focuses on cryptocurrency trading.
- The transaction fees on Crypto.com are lower than Binance, making it a more cost-effective option for traders.
- Both platforms have native tokens. The staking and rewards programs differ, with Crypto.com offering more incentives for holding and using its token.
Crypto.com vs Binance
The difference between a Crypto firm and Binance is that a crypto firm supports only 87 coins, while Binance supports around 200 tokens. Also, if we compare the prices, charges, and other taxes, crypto.com charges a levy more fee than Binance. The crypto firm is less popular than Binance as Binance has the most market volume leading the top position in comparison.
Crypto.com is one of the famous cryptocurrency exchanges in India that was founded in the year 2016. With the integrated system and supporting various coins, it makes one of the preferred exchanges by the people.
Consisting of a team of 900 members and users of around 10 million, it makes the crypto firm a leading firm across the world.
Binance, on the other hand, is the world’s best Cryptocurrency exchange facilitating users with more than 200 tokens and more than 500 Altcoins. Founded in the year 2017, it was founded by Changpeng Zhao Yi He.
It covers most parts of the world except the United States. Also, Binance is the largest cryptocurrency exchange in the world in terms of trading volume.
Comparison Table
| Parameters of Comparison | Crypto.com | Binance |
|---|---|---|
| Largest by area | This exchange isn’t the largest by area in the world. | Binance is the largest by area in the entire world. |
| Foundation | It was founded in the year 2016. | It was founded in the year 2017. |
| Founding members | Crypto.com was founded by co-founder Kris Marszalek. | Binance was founded by Changpeng Zhao. |
| Biggest exchange | Crypto.com is established in more than 90 countries. | Binance covers more than 100 countries. |
| Ranking by market volume | Crypto.com exchange ranks 22 according to the volume. | Binance ranks no.1 in terms of volume. |
What is Crypto.com?
The cryptocurrency market is on fire, and underlying various bold and inevitable reasons for such a boom and growth. If we talk about Bitcoin, it was less than $ 1 in 2010. Now the value has crossed the $ 40,000 mark.
The cryptocurrency market is one of the finest modes for peer-to-peer exchange, buying and selling of goods and services, exchanging things, NFT, Defi and many more.
Cryptocurrency exchanges make it possible for a newbie or an expert to trade on this firing cryptocurrency. Well, Crypto.com is one of the most valuable companies in terms of availability, market volume, and capitalization.
Crypto.com has more than 900 team members that are ready to facilitate users 24×7.
Crypto.com was founded in 2016, and its CEO and co-founders are Kris Marszalek and Gary Or. Talking more about the team, the CFO of crypto.com is Rafael Melo. Eric Anziani is the COO of crypto.com.
Around 10mn users have been recorded by crypto.com, and that depicts a picture of trust and reliability.
It supports various trending tokens like Bitcoin, Ethereum Tether, stablecoin, XRP, link, helium, Doge, etc. Also, the company supports Various other amenities offered by the crypto market, like Non-fungible tokens, Decentralised finance management, and many more.
What is Binance?
Since Bitcoins gained their speed in the last 3-4 years, many exchanges have opened up. Binance was one of the exchanges that came into existence in 2017.
The founder of Binance is Changpeng Zhao, and it’s spread across many states, excluding the USA. The company’s origin is China, but the headquarters were mobilised to a different country because of China’s regulations of cryptocurrency.
Binance supports more than 200 coins, including trending tokens like Bitcoin and Ethereum. The founder has a great track record in Laying various foundations across the globe.
He founded Fusion Systems in 2005 in Shanghai. In 2013, he was offered a position at Blockchain.info, so he joined cryptocurrency technology.
Since China intended to ban or regulate cryptocurrency, Changpeng has to shift his company to a different location. Since then, Binance has been the most preferred company and the best exchange in the entire world.
Well, it has a trading volume of more than $ 10 bn and ranking in 1st place. Binance has one of the best teams deployed and the finest management across the entire way.
Well, Binance has undoubtedly been the best option for trading several active cryptocurrencies.
Also, Binance is the largest cryptocurrency exchange in the world in terms of the area. It has offices in Malta, Japan, China, and European countries, except for the United States.
Binance has the most number of users as compared to many other exchanges, and since it is the largest exchange in terms of volume, it is the most preferred crypto exchange and a better option for users.
Main Differences Between Crypto.com and Binance
- Crypto.com is one of the largest cryptocurrency exchanges in the world, while Binance is the largest, ranking no.1.
- Crypto.com supports 87 trending tokens, while Binance supports more than 200 tokens.
- Kris Marszalek founded Crypto.com, while Changpeng Zhao founded Binance.
- Crypto.com has a lesser market volume than Binance, which is the top exchange in terms of volume.
- Crypto.com ranks in the top 30 cryptocurrency exchanges, while Binance ranks in the top 3.
- https://www.sciencedirect.com/science/article/pii/S0378437119304893
- https://tradingstrategyguides.com/how-to-buy-cryptocurrency/
Last Updated : 27 June, 2023
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Sandeep Bhandari holds a Bachelor of Engineering in Computers from Thapar University (2006). He has 20 years of experience in the technology field. He has a keen interest in various technical fields, including database systems, computer networks, and programming. You can read more about him on his bio page.
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