- Crypto.com Vs. FTX – which one is best?
- Can US residents use Crypto.com or FTX?
- Is FTX higher than Crypto.com?
Hey people! It’s that point once more once we see and benefit from the Conflict of Titans. These Titans are the Prime Exchanges within the crypto market, and CoinSutra helps you choose one of the best out of them.
As we speak the conflict is between Crypto.com and FTX. Each are top-rated exchanges and have a great deal of options for his or her customers. Therefore, the battle could be a troublesome one.
So, fasten your seatbelts, and let’s roll up the curtain.
Spherical 1 – Institution and Founders’ Background
Spherical 1 is relating to the founder’s background and years of enterprise operations.
Crypto.com was established in 2016 in Singapore. Kris Marszalek, CEO of Crypto.com, has based a number of profitable companies earlier than leaping into the crypto change trade. Additional, Rafael Melo, CFO of Crypto.com, had 15+ years of expertise in Finance and Threat Compliance earlier than becoming a member of the change.
FTX was established fairly not too long ago in 2019. The change was based in Antigua and Barbuda, the Caribbean and now has its head workplace in The Bahamas. FTX’s crew background is fairly spectacular.
Sam Bankman Fried, CEO of FTX, is a graduate from MIT with a level in physics. Put up that, he was a dealer at a famend Worldwide ETF desk. Earlier than FTX, he based Alameda Analysis along with his CTO, Gary Wang. Alameda Analysis is a well-known quant buying and selling agency. Learn FTX evaluation to deep dive into FTX change.
So, though Crypto.com has rather more market expertise than FTX, each exchanges’ basis crew is fairly stable. Due to this fact, this spherical is a TIE.
Now, let’s discover out which platform has higher options and all kinds of tokens.
Spherical 2 – Crypto Tokens and Alternate Options
| Spherical 2 | Crypto.com | FTX |
| Spot Market | ||
| Variety of Token Pairs | 467 | 420 |
| 24 Hours Buying and selling Quantity ($) | $ 350 Million | $ 2.2 Billion |
| Derivatives Market | ||
| Variety of Token Pairs | 63 | 43 |
| 24 Hours Buying and selling Quantity ($) | $ 2.2 Billion | $ 6.2 Billion |
| Different Options | ||
| Buying and selling Options | Spot TradingMargin Buying and selling (as much as 50X)Derivatives TradingOTC Buying and selling | Spot TradingMargin Buying and selling (as much as 20X)Derivatives TradingLeveraged TokensOTC Buying and selling |
| Different Options | Fiat SupportCrypto.com payMetal Visa CardsStaking and Financial savings ProductsCrypto CreditDeFi IntegrationsPay for BusinessTax Service | Fiat supportFTX PayStakingNFT MarketplaceFTX Card |
| Availability within the US | Sure | NoFTX.US is an alternate |
| Native Token | CRO | FTT |
| KYC | Sure | Sure |
1. Crypto.com provides greater than 450 token pairs for spot buying and selling and has a median 24 hours buying and selling quantity of $ 350 Million.
FTX provides round 420 token pairs for spot buying and selling and has a median 24-hour buying and selling quantity of $ 2.2 Billion. Thus, FTX’s quantity is fairly vital in comparison with Crypto.com’s quantity.
2. Crypto.com provides 60+ token pairs for derivatives buying and selling and has a median 24 hours buying and selling quantity of $2.2 Billion.
FTX provides 40+ token pairs for derivatives buying and selling and has a median 24 hours buying and selling quantity of $ 6.2 Billion. Right here additionally, FTX’s share of the enterprise is fairly vital.
3. Crypto.com offers margins as much as 50 occasions. Nonetheless, FTX offers margins as much as 20 occasions.
4. Crypto.com has a couple of distinctive options, akin to:
a. Crypto.com Pay – customers can use this characteristic for buying, paying retailers, recharging cell, sending crypto to family and friends, and so on.
b. Steel Visa Playing cards – These are debit playing cards that can be utilized for spending Crypto or Fiat cash.
c. Pay for Enterprise – Retailers may use Crypto.com Pay to simply accept crypto funds from their clients.
d. Tax Service – The change offers tax assist providers to a number of jurisdictions
5. FTX additionally has a couple of distinctive options, akin to:
a. Leveraged Tokens – Leveraged tokens are a singular product provided by FTX. This protects you from the hassles of sustaining margins and collateral for leveraged buying and selling.
b. FTX Pay – It’s a fee app that can be utilized to ship and obtain crypto and fiat funds in a quick and safe method.
c. FTX Card – It’s a Debit Card that can be utilized for spending cryptocurrencies at hundreds of thousands of retailers worldwide.
d. NFT Market – This can be a market the place customers can listing, purchase or promote Non-Fungible Tokens (NFTs)
6. Crypto.com is offered in most states in the USA. Nonetheless, FTX is prohibited for residents of the USA. For them, the change has a separate platform known as FTX.US.
7. Crypto.com has a local token known as CRO. CRO can be utilized for Staking, availing reductions on transaction charges, and availing decrease borrowing rates of interest and higher lending rates of interest.
FTX additionally has a local token known as FTT. FTT serves because the spine of the FTX ecosystem. Part of the price obtained by the FTX change is used to burn the FTT token. This helps management the circulating provide of the token, therefore rising its value. As well as, FTT can be utilized as collateral for margin buying and selling, staking, and availing reductions on transaction charges.
Suppose you maintain an FTT token (the native token of FTX Alternate). In that case, you might be eligible for a lot of advantages akin to
- Zero charges on Crypto withdrawals
- Zero charges on Fiat Withdrawals
- Reductions on buying and selling charges, and so on.
8. Lastly, each the exchanges want their customers to finish KYC formalities.
Primarily based on the buying and selling quantity and use circumstances of the FTT token, the winner of Spherical 2 is FTX Alternate.
Spherical 3 – Fiat Assist on Crypto.com Vs. FTX
| Spherical 3 | Crypto.com | FTX |
| Fiat Foreign money Supported | AUD (Australian Greenback)CAD (Canadian Greenback)EUR (Euro)GBP (Pound Sterling)USD (US Greenback)BRL (Brazilian Actual) | USD (US Greenback)EUR (Euro)GBP (Pound Sterling)AUD (Australian Greenback)CAD (Canadian Greenback)CHF (Swiss Franc)And plenty of extra |
| Deposit and Withdrawal Strategies | Financial institution TransferWallet Transfers (restricted choices) | Wire Transfers |
For fiat forex purchases, Crypto.com helps a number of currencies akin to AUD, CAD, EUR, GBP, USD, and BRL. FTX has a couple of extra choices for fiat currencies.
Each the exchanges settle for wire transfers. Nonetheless, Crypto.com additionally accepts a couple of pockets transfers.
Primarily based on the above, Spherical 3 is a TIE.
Spherical 4 – Price Construction
| Spherical 4 | Crypto.com | FTX |
| Buying and selling Price | 0.4% | Maker Price – 0.02% Taker Price – 0.07% |
| Deposit Price On Crypto On Fiat Foreign money |
Free Free |
Free Free |
| Withdrawal Price On Crypto On Fiat Foreign money |
Variable Price 25 USD |
Variable Price 25 USD |
1. Crypto.com expenses a base transaction price of 0.4% of the transaction worth. FTX expenses a base buying and selling price of 0.02% and 0.07% from Market Makers and Market Takers, respectively.
2. Each the exchanges don’t cost any price for the deposit of crypto or fiat currencies.
3. The price for withdrawal of crypto belongings is variable on each exchanges.
4. The bottom price for withdrawing fiat forex on each exchanges is 25 USD.
Please observe that within the case of deposit and withdrawal of cryptocurrencies, a network-specific gasoline price can be chargeable along with the abovementioned charges.
Additional, varied reductions can be found on the above price construction if you happen to maintain the native token of the change (i.e., CRO or FTT).
So, due to a decrease price construction, Spherical 4 goes to FTX Alternate.
Conclusion – Crypto.com Vs. FTX Alternate
So, based mostly on the above comparisons, the clear winner is the FTX Alternate change. It has extra person adoption and vital buying and selling quantity. Additional, the price construction of the FTX change is extra pocket pleasant than Crypto.com.
Join your FREE FTX account right here.
Nonetheless, Crypto.com has distinctive options and will be opted for these particular options. Additional, since you ought to preserve your eggs in several baskets for safety functions, you may go for each exchanges.
Join your FREE Crypto.com account right here.
I hope this comparability put up between FTX Vs. Crypto.com was useful for you. Please tell us when you’ve got any suggestions or feedback. Please observe that nothing written on this article is monetary recommendation. Please seek the advice of your monetary advisor earlier than making any monetary resolution.
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