Difference Between Luno and Crypto.com (With Table)

The cryptocurrency had reached new heights since 2009, when Bitcoin (BTC) became the first decentralized digital currency worldwide. After which, it has seen massive and rapid growth, especially in recent years. The two companies, ‘Luno’ and ‘Crypto.com,’ are some of the most famously used cryptocurrency trading platforms. 

Luno vs Crypto.com

The difference between Luno and Crypto.com is that a free version of Luno is not available. However, there is a free version of Crypto.com available. There are furthermore differences between the two in terms of their origin, headquarters, audience, categories, features, and integrations.

One of the most highly-rated digital currency exchanges at one’s disposal in the world today includes Luno. This exchange platform also exists among the most reliable trading companies on the market. It has its headquarters in London. It also has its other offices in Cape Town, South Africa, and Singapore.

Crypto.com is a company that can be referred to as a one-stop-shop for crypto users. In which they can spend, buy and save digital currencies. These currencies include Ethereum (ETC) and Bitcoin (BTC). It is a dual-coin exchange. Some critics and users find this application more complicated and confusing.

Comparison Table Between Luno and Crypto.com

Parameters of ComparisonLunoCrypto.com
FoundedIt was founded in 2013 in, United Kingdom.It was founded in 2016, Hong Kong.
AudienceIt is a platform where anyone can buy Bitcoin, Ethereum, XRP or Litecoin.It is an application for cryptocurrency exchange for investors.
PricingA free version is not available.A free version is available.
CategoriesIt has fewer categories in comparison.It has more categories in comparison along with crypto tax features.
IntegrationsIt has 4 integrations, including Coin Gecko, Coin Market Cap, Cryptograf, and Green Address.It has 20 integrations including Accounting.com, Bitcoin, Coin Tracking, Coin Panda, Crypto Tax Calculator, and so on.

What is Luno?

Luno was founded by Timothy Stranex and Marcus Swanepoel in 2013. The exchange had been started as BitX but was later rebranded as Luno. It, later on, it added two offices in the UK in 2016, it has its headquarters in London. 

Today, it stands as one of the most highly-rated digital currency exchanges in existence. And also one of the most reputed companies. Luno only accepts trades in 2 types of cryptos, Bitcoin (BTC) and Ethereum (ETH). Despite this, it is highly secure. While carrying out transactions on the Luno platform, users gain access to three key features: verification, security, and regulation. 

Any individual signing up via Luno notices the platform takes certification seriously. For opening an account, email address, mobile number, and identification via government-approved documents are mandatory. All of which fulfill the Know Your Customer (KYC) protocol followed by Ceci exchanges and claims strict security. Luno also supports two-factor authentication. The result is strong protection of stores and accounts. It is beginner-friendly too.

It is not only easy to understand but also trustworthy and reliable. For a better customer experience, it provides multilingual language support, varied payment methods, and a high level of internal security. As a result, you’ll enjoy better protection of stores and accounts from authorized access. Luno’s emphasis on security provides peace of mind for users.

What is Crypto.com?

The crypto company- crypto.com allows crypto users to spend, buy and save digital currencies, including Ethereum (ETC) and Bitcoin (BTC), on a single platform. It also offers a variety of features, including cashback rewards, interest rewards, and rebates which can be accessed by unlocking. Their focus is also on individuals wanting to make a profit from their digital asset holdings on a daily basis. Crypto.com is distinctive from other exchanges as it is a dual-coin exchange. It is complicated and confusing for some.

MCO was the company’s first coin. This can be used as a staking mechanism to unlock tiered perks by consumers. MCO Visa cards can be upgraded by staking in this native token. This leads to an increase in the offers gained by consumers like cash backs and rebates. CRO is the brand’s second coin. This acts as the standardized medium of exchange for the Crypto.com blockchain. CRO can be staked to earn during different governance activities.

Crypto.com users are enabled to earn higher savings APR when more crypto is staked for longer timeframes with the help of Crypto Earn. Saving periods can be chosen from one-month and three-month intervals. Educational blogs and active updates are also uploaded on the website.

Main Differences Luno and Crypto.com

  1. Luno was founded in 2013 in, United Kingdom, and Crypto.com was founded in 2016, Hong Kong.
  2. Luno is a platform where anyone can buy Bitcoin, Ethereum, XRP, or Litecoin. Crypto.com is an application for cryptocurrency exchange for investors.
  3. A free version of Luno is not available. On the contrary, a free version of crypto.com is available.
  4. In comparison, crypto.com has more categories than luno, which also comes along with crypto tax features.
  5. Luno has 4 integrations, including Coin Gecko, Coin Market Cap, Cryptograf, and Green Address. Whereas crypto.com has 20 integrations, including Accounting.com, Bitcoin, Coin Tracking, Coin Panda, Crypto Tax Calculator, and so on.

Conclusion 

Both Luno and Crypto.com are amongst the most popular and trustworthy Cryptocurrency Exchange Platforms. In comparison, Crypto has more features, categories, and integrations than Luno. However, Luno is easy to use and beginner-friendly. Whereas crypto is difficult and complicated. Both Luno and Crypto provide good support as well as protection and security.

As mentioned earlier, this has rapidly and massively increased with time and is going to increase even more in the future. The choice between Luno and Crypto companies depends on the user and his preference. There are a lot of factors he can choose from- for example, characteristics, features, coins, rewards, and son. Both of them have their pros as well as cons. 

References

  1. https://academic.oup.com/rfs/article-abstract/34/6/2689/5912024
  2. https://jai.pm-research.com/content/20/3/16/tab-pdf-trialist
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