Coinsquare vs Crypto.com | One Exchange Is Clearly Better
Jack Moreau
Feb 2024
9 min read
Fact checked
If you're looking for a reliable platform to buy and sell crypto, you may be considering Coinsquare vs Crypto.com. We've compared the two exchanges across key metrics like trading fees, products, deposit methods and more. Read on to see which exchange comes out on top!
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.
Coinsquare is a Canadian-based cryptocurrency exchange that has been in operation since 2014. It is registered and based in Ontario, Canada, and has over 50 employees.
Coinsquare Exchange
The exchange is only available in Canada, and users who are not residents of Canada are not able to use its services.
Coinsquare is a secure, regulated, and 100% Canadian-owned and operated exchange where Canadians can easily buy and sell cryptocurrencies such as Bitcoin, Ethereum, and a select few other coins and tokens.
Coinsquare is an easy-to-use platform that offers a clean and intuitive user interface that is beginner-friendly.
The exchange is estimated to have over 500,000 registered users, and it is available on Android and IOS, where it has been downloaded by over 50,000 Canadians.
Coinsquare app
Coinsquare only supports a limited range of over 40 cryptocurrencies, including BTC, ETH, XRP, ADA, ALGO, ATOM, and a few others.
On the other hand, Crypto.com is a global cryptocurrency exchange founded in 2016 by Kris Marszalek and Bobby Bao.
Crypto.com
The exchange is based in Singapore and has over 4000 employees. It is available in 180 countries including the US and Canada with derivatives and margin trading being restricted in Cyprus, the Czech Republic, and Denmark.
The Crypto.com Exchange launched in 2019 and offers a comprehensive platform providing a range of services, including spot and margin trading, staking, lending, wallet services, and much more.
It also offers the Crypto.com Visa Card, which allows users to spend their crypto holdings and earn rewards. Crypto.com boasts an impressive 80 million users worldwide, with a footprint spanning North America, Europe, and Asia.
The exchange is also available on Android and IOS with over 10 million downloads and a stellar 4.6 rating based on over 400,000 reviews. Crypto.com offers support for 250 cryptocurrencies, including Bitcoin, Ethereum, and more.
Crypto.com Mobile App
In summary, while Coinsquare is a smaller exchange available only in Canada and with a limited range of cryptocurrencies, Crypto.com is a global exchange available in many countries and with a much wider range of cryptocurrencies.
Coinsquare vs Crypto.com Signup & KYC
Coinsquare and Crypto.com are two cryptocurrency exchanges that require users to go through the Know Your Customer (KYC) process in order to use their services. However, there are differences in their signup processes and verification requirements.
To sign up for Coinsquare, users must first enter their email and verify it. They will then be prompted to enter their phone number. Once the account is created, users must complete KYC by providing personal information such as their full name, address, a valid government ID, and a selfie.
KYC is obligatory on Coinsquare and no trading can occur until users get verified. Note that only Canadian residents can use the platform and users that are not won't be able to pass KYC. The verification process on Coinsquare takes 1-2 days.
On the other hand, creating an account on Crypto.com is a quick process, as users only need to provide an email and a password. However, KYC is required for all trading and other services.
Crypto.com Signup
The KYC verification process with Crypto.com requires users to provide their full legal name and a picture of a government-issued ID. Once the account has been opened, users must then complete KYC. The verification process on Crypto.com can be done in a few hours but can take up to 24 hours to process.
In conclusion, both Coinsquare and Crypto.com require KYC verification for their users. While Coinsquare is limited to Canadian residents only, Crypto.com is a more accessible platform.
Coinsquare vs Crypto.com Products & Services
Coinsquare is a smaller local exchange that doesn't offer a wide range of products and services. They only offer buying and selling of 40 cryptocurrencies via their swap services or their spot exchange called Coinsquare Pro.
The user experience on Coinsquare is pretty average, but it's easy to use for total beginners. Other than that, there's nothing that stands out as particularly impressive when it comes to product offering or user experience.
Spot trading volumes on Coinsquare are in the range of $20 to $40 million on a daily basis, which is not much and to be expected from a smaller country-specific exchange.
On the other hand, Crypto.com offers a wide range of trading services, including 500 spot trading pairs and over 100 futures, perps, and warrents. They also offer trading bots to help out with basic functionality such as dollar-cost averaging and grid trading.
Crypto.com Spot Trading
Crypto.com also offers products and services more tailored to beginners, such as futures and perps. The exchange also offers more beginner-friendly features such as lending and borrowing of digital assets, Crypto.com cards with cashback, and NFTs.
Crypto.com Margin Trading
For institutional clients, they also offer an OTC desk. The user experience on Crypto.com is pretty good overall with a good variety of products and services and an easy-to-navigate interface.
Crypto.com OTC Trading
The exchange satisfies the needs of both professional traders and more average beginners with spot and futures products. Liquidity on 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 up to 3X.
When it comes to trading fees, Coinsquare and Crypto.com have some key differences. Coinsquare charges spot fees starting at 0.5%, which is on the higher end compared to most exchanges. However, they do offer rebates for traders who exceed $10,000 in trades during a 30-day period.
On the other hand, Crypto.com charges spot maker and taker fees of 0.075%, which is significantly lower than Coinsquare's fees. For those interested in futures trading, Coinsquare does not offer this option.
Meanwhile, Crypto.com charges futures maker and taker fees of 0.017% and 0.034%, respectively. These fees are also lower than what Coinsquare charges for its spot trading fees.
In terms of trading volume discounts, both exchanges offer them. Coinsquare offers rebates for traders exceeding $10,000 in trades during a 30-day period, while Crypto.com offers discounts for traders exceeding $250,000 in trades or holding at least 1000 CRO tokens.
When it comes to depositing fiat currencies, Coinsquare and Crypto.com have some key differences.
Coinsquare only allows for the deposit of CAD and USD, while Crypto.com only supports USD for wire transfers.
However, Crypto.com offers a $0 deposit fee for wire transfers or USD bank transfers, which can be a major benefit for users looking to move funds onto the exchange without incurring any additional costs.
Coinsquare offers a few different deposit methods, including wire transfers and Interac e-Transfers for CAD deposits.
While these options are free of charge, users looking to deposit funds via credit or debit card will incur a 2.58% fee. Additionally, BPAY deposits come with a 0.9% fee, while cash deposits come with a 2.5% fee.
Crypto.com also supports credit and debit card deposits via third-party providers, with fees ranging from 2-5% per transaction.
While this is a significant cost for users, the exchange does offer a variety of other deposit methods, including wire transfers and a $0 deposit fee for USD bank transfers.
Overall, the deposit methods offered by Coinsquare and Crypto.com vary quite a bit. While Coinsquare offers more deposit options, users may have to pay additional fees for certain methods.
Coinsquare and Crypto.com are two popular cryptocurrency exchanges that offer different withdrawal methods and fees for their users.
Coinsquare allows users to withdraw USD or CAD funds from the exchange with a few different options. For USD, Wire transfer is the only option and for CAD, that can be withdrawn via Interac e-Transfer (free), Bank withdrawal (1.5% fee) or Wire transfer (1.5% fee).
Certain cryptocurrencies (but not all) can also be withdrawn from Coinsquare with different fees depending on the blockchain being used. Some of these fees are dynamic and change based on network activity such as BTC and ETH while others are set like Litecoin, XRP and Stellar which are free.
On the other hand, Crypto.com only offers fiat withdrawals for USD via bank transfer, and it is free of charge. The platform also charges different fees for cryptocurrency withdrawals, which vary depending on the type of digital currency being withdrawn.
For instance, the withdrawal fee for Bitcoin is 0.0001 BTC, while for Ethereum and Solana, it is 0.04 ETH and 0.03 SOL, respectively. Meanwhile, the withdrawal fee for USDT (ERC-20) is 10 USDT.
Coinsquare and Crypto.com are two popular cryptocurrency exchanges that cater to different needs of users. Coinsquare is a Canadian-based exchange that offers a limited range of cryptocurrencies and is only available to Canadian residents.
On the other hand, Crypto.com is a global exchange that offers a wider range of cryptocurrencies and is available in 180 countries. While both exchanges require KYC verification, the signup process and verification requirements differ slightly.
Coinsquare only offers buying and selling of 40 cryptocurrencies via its swap services or its spot exchange called Coinsquare Pro. The user experience on Coinsquare is average, but it is easy to use for beginners.
Crypto.com, on the other hand, offers a wide range of trading services, including spot and futures trading, staking, lending, and wallet services. The user experience on Crypto.com is good overall, with an easy-to-navigate interface.
And as for trading fees, Coinsquare charges higher spot fees starting at 0.5%, while Crypto.com charges spot maker and taker fees of 0.075%, which is significantly lower. Crypto.com also offers competitive futures trading fees.
Coinsquare is suitable for Canadian residents who are new to the world of cryptocurrency and don't mind paying higher fees to buy and sell a few cryptocurrencies. Crypto.com on the other hand is more suitable for those who want a wider range of trading services and products available globally.
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.
