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 the 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 and Crypto.com are 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 VS Crypto.com: Exchange Security
Both exchanges are secure and provide the highest level of security. Both stores funds offline in cold storage and provides 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 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 lists 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:
You can also reduce your fees by holding FTX’s native coin called FTT. The fee rate after holding the FTT coin is given below.
After seeing their fee rate, we can clearly say that FTX is the winner again.