CEX.IO vs Crypto.com | What Exchange Has Most Advantages?
Jack Moreau
Apr 2024
9 min read
Fact checked
Looking for a trustworthy and reliable cryptocurrency exchange? In this comparison, we've done the research for you and compared CEX.io vs Crypto.com by analyzing factors such as signup and KYC, supported countries, trading fees, products and services and user experience. Read on to discover which exchange comes out on top based on our findings!
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eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
When it comes to cryptocurrency exchanges, two popular options are Cex.Io and Crypto.com.
While each platform has its own unique features and benefits, both offer a comprehensive suite of services for buying, selling, and trading various cryptocurrencies.
Founded in 2013, Cex.Io has quickly become a retail friendly exchange with a decent range of products and coins and tokens.
With over 4 million registered users around the world, Cex.Io supports over 130 different cryptocurrencies including popular options like BTC, ETH, ADA, UNI, SOL and DOGE.
CEX.io exchange
The platform is available in 99% of the countries in the world including 48 US states, and offers a user-friendly interface that makes it accessible to traders of all levels of experience.
Compared to Cex.io, Crypto.com is a newer entrant in the cryptocurrency exchange space having been founded in 2016.
Despite its relatively young age, Crypto.com has quickly grown to become one of the most popular exchanges in the world with over 80 million users and a footprint across countries in North America, Europe, and Asia.
Crypto.com exchange
Like Cex.io, Crypto.com supports a wider range of 250 cryptocurrencies including Bitcoin, Ethereum, and its own native token, Crypto.com Coin (CRO).
The platform also offers a range of services, such as spot trading, staking, and lending, along with the popular Crypto.com Visa Card, which allows users to spend their crypto holdings seamlessly and earn rewards.
Crypto.com app
Cex.io vs Crypto.com KYC Requirements
When it comes to signing up for a cryptocurrency exchange, there are a lot of factors to consider.
One of the most important is the Know Your Customer (KYC) process which requires users to verify their identity before they can start trading.
Let's take a look at Cex.io and Crypto.com and see how their signup process and KYC requirements compare.
Cex.io is an exchange that requires KYC verification for all users. However, the signup process is quick and straightforward. All you need to do is enter your name, email, and country of residence to open an account.
CEX.io signup
Once you're ready to complete the KYC process, you'll need to upload a government-issued ID and a selfie with that document. The verification process typically takes less than an hour and you'll be notified by email when it's complete.
Crypto.com also requires KYC verification in order for their users to access any of their features. Crypto.com also offers a swift signup process that only takes a minute to complete as only email is required.
To complete the KYC process, users will need to enter their full legal name and a picture of a government ID such as passport or drivers license.
The verification process can take a few minutes to a few hours, depending on how many requests the team is handling at the same time.
The user experience on Cex.Io has improved significantly in the last few years. The exchange now provides a modern interface with a wider range of products which makes it more appealing to use.
CEX.io products and services
CEX.io offers a smaller range of products including staking, spot trading, margin trading and their own non-custodial wallet.
CEX.io Staking
In terms of liquidity, the average daily spot volume on Cex.io is quite low as it's under $10 million. However, the exchange does offer up to 10X leverage on margin trading.
CEX.io debit card
Crypto.com offers a wider range of trading services than Cex.io which includes over 500 spot trading pairs and over 100 futures, perps and warrants.
Margin trading on Crypto.com
They also offer trading bots to help out with basic functionality such as dollar cost averaging and grid trading.
Crypto.com Grid Bots
Crypto.com also offers product and services more tailored to sophisticated traders such as margin trading, futures and perps.
Crypto.com USPs
The exchange also offers more beginner-friendly features such as lending and borrowing of digital assets, Crypto.com cards with cashback and NFTs. For institutional clients, they also offer an OTC desk.
Buy and sell NFTs on Crypto.com
The user experience on Crypto.com is pretty ok overall with a good variety of products and services.
The exchange satisfies the needs of both professional traders and more average beginners with spot and futures products.
In terms of liquidity, Crypto.com is in the top 20 category with daily spot trading volumes in the range of $100-$300 million. The max futures leverage available on Crypto.com is 20X and margin leverage is up to 3X.
Crypto.com Crypto Volumes
While Crypto.com has a good variety of products tailored to beginners and more advanced traders, Cex.io is a decent exchange mainly for beginners as it lacks the depth to satisfy the needs of more sophisticated traders.
When it comes to trading fees, which of these exchanges offers the lowest fees?
Let's start by taking a look at CEX.IO. This exchange charges a spot trading fee of 0.25% for both makers and takers.
Unfortunately, CEX.IO doesn't offer any rebates for higher trading volumes, which can be a bit of a letdown if you're an experienced trader.
CEX.io trading fees
The fees on Crypto.com are much lower than Cex.io with a spot trading fee of 0.075% for both makers and takers.
This is significantly lower than what CEX.IO offers plus the fees can be further lowered if you trade with higher volumes or hold at least 1000 CRO tokens.
Crypto.com spot trading fees
Crypto.com also offers a competitive futures trading fee of 0.017% for makers and 0.034% for takers.
All in all, if you're looking for an exchange with low trading fees, Crypto.com offers quite competitive trading fees and less so in regards to CEX.io.
When it comes to depositing funds on cryptocurrency exchanges, let's take a look at what Cex.Io and Crypto.com has to offer.
Cex.io offers fiat deposits for USD, EUR, and GBP with deposit methods including SWIFT, Wire, SEPA, Faster Payments and credit/debit card payments.
CEX.io fiat deposit
However, each deposit method comes with a different fee. For example, Swift and Wire deposits will incur a $2.99 fee, while FSP requires a 2.99 GBP fee and SEPA a 2.99 EUR fee. Credit/debit card deposits come with a steep 3-4% service fee.
Crypto.com offers more limited deposit options with only USD and EUR being available for fiat deposits via wire transfer and SEPA deposits. One big benefit is that there are no fees associated with these deposit methods.
When it comes to withdrawal fiat currencies, Cex.Io offers fiat withdrawals for three different currencies: USD, EUR, and GBP. These withdrawals can be made via wire transfer or SEPA, depending on the currency.
The withdrawal fees for these methods range from 2.99 USD/EUR/GBP to 1.8%-3% commission for credit/debit card withdrawals.
As for cryptocurrency withdrawals, Cex.Io charges a 0.0005 BTC fee for Bitcoin withdrawals and a 0.006 ETH withdrawal fee for Ethereum.
Crypto.com only offers fiat withdrawals for USD via bank transfer. However, these withdrawals are free of charge.
When it comes to cryptocurrency withdrawals, the fees are as follows: a 0.0001 BTC fee, a 0.04 ETH fee, a 0.03 SOL fee, and a 10 USDT fee for ERC-20 USDT.
Cex.io has done a better job than Crypto.com with more fiat deposit and withdrawal options and overall by offering lower crypto withdrawal fees than Crypto.com.
This is definitely an area which Crypto.com could offer significant improvements to their users.
In conclusion, Cex.Io supports a more limited 130 cryptocurrencies but is available in most countries around the world. Crypto.com is the much bigger and more well known exchange with over 80 million users.
Crypto.com also offers a wider range product including spot, margin and futures trading, staking, lending, and its own Crypto.com Visa Card.
KYC is required for all users on both exchanges so for privacy concerned individuals, neither exchange is suitable for your needs.
In terms of trading fees, Crypto.com offers significantly lower fees for both spot and futures trading, with the ability to lower fees even further with higher trading volumes or holding at least 1000 CRO tokens.
When it comes to deposit and withdrawal methods, Cex.Io has more fiat deposit options but at a higher cost, while Crypto.com provides fee-free deposits for USD via wire transfer.
For withdrawals, Cex.Io offers more options for fiat withdrawals while Crypto.com once again offers free USD withdrawals.
While both exchanges have some pros and cons, it's hard for Cex.io to compete with Crypto.com.
While Crypto.com does not quite reach the standard by alternative exchanges such as OKX and Binance, it does offer much more than CEX.io
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
