What are the differences between Crypto.com and Nexo? You will find a lot of places to buy and sell crypto coins and a few platforms will also allow you to trade other financial instruments along with it as well.
However, which one of them will be better for you is quite a difficult question to answer. This is because no two crypto platforms are alike.
They may differ in ways more than one such as in their wallets, lending process, trades, fees, coin support, age, cards offered and more.
All these variable factors need to be considered to compare between two crypto platforms such as Crypto.com and Nexo.
This article entails all those factors which will help you in making the right choice. Learning these differences will also allow you to determine and understand the objectives of the respective companies and how they accomplish those through their operation.
Therefore, before you finalize on a crypto exchange it is important to know the differences between these two popular investment resources and crypto exchange platforms whether you are new or experienced in this field, a long-term investor or a short term trader.
Nexo and Crypto.com are both popular and reliable crypto lending platforms and exchanges. You can use one or both of them if you want to diversify your crypto portfolio as well as the risks involved in such trades and investments.
The following information will prove to be extremely helpful for you to decide whether you should move with the crowd and go with Crypto.com or be adventurous and try out Nexo.
7 Differences Between Crypto.com and Nexo
Apparently, it may look like Nexo is a much safer option for users to choose if they want to earn interest on their crypto coins.
However, a closer look at the different differentiating factors may make you think otherwise.
Here is a brief comparison chart for you to read and compare the two platforms side by side to make a more informed decision in the end.
1. Company Information
Crypto.com was founded by Bobby Bao, Kris Marszalek, Gary Or, and Rafael Melo in 2016 and its head office is located in Hong Kong. It is a platform that is dedicated to providing better and more varied crypto financial services to the users.
It includes crypto exchange, lending and borrowing as well as an interest account of digital assets. In short, it offers much more facilities to the crypto users in comparison to its competitors.
On the other hand, Antoni Trenchev, Georgi Shulev, and Kosta Kantchev founded Nexo in 2017 and its head office is located in the United Kingdom.
This professional financial service platform is best used for earning, borrowing, and exchanging crypto coins as well as earning within the platform itself by getting Nexo tokens from it.
The primary objective of creating this platform is to make the best use of the potential of blockchain technology.
2. Target Audience
Crypto.com targets those people who are interested in having a reliable crypto exchange and a lending platform, both rolled in one, that also offers other features like a savings account and more.
In comparison, Nexo targets those users who want to deposit crypto coins and earn interest on them or borrow cryptocurrencies at a lower rate.
Both these crypto platforms are good for different categories, some common and some different. As for Crypto.com, the categories in which it is good at include crypto savings, crypto tax, crypto wallets, DeFi crypto lending, crypto exchanges, and NFT marketplaces.
On the other hand, the categories in which Nexo specializes include crypto exchange, DeFi crypto lending, crypto savings, and crypto wallets.
4. Coins Supported
When it comes to coin support, Crypto.com is more favored by the investors and traders because the variety is much larger and more diverse.
It includes BTC, CRO, LTC, EOS, ETH, XRP, XLM, USDC, XTZ, BCH, ATOM, LINK, VET, ICX, ALGO, KNC, ADA, ENJ, NEO, DAI, COMP, OMG, PAXG, BAT, MANA, QTUM, UNI, YFI, CELR, MKR, BAND, EGLD, DOT, REN, WBTC, AAVE, ONT, LRC, GRT, BNT, CRV, ZIL, KSM, SKL, BAL, STX, NEAR, SNX, DOGE, UMA, ZRX, FIL, HOT, 1INCH, FLOW, SAND, THETA, ANKR, OCEAN, WAVES, MATIC, CHZ, RLY, and STORJ.
In comparison, the coin support of Nexo is also quite diverse but not as many as Crypto.com in number. The list includes BTC, ETH, EOS, XLM, LTC, XRP, BCH, USDT, DAI, PAX, USDC, TUSD, HUSD, LINK, Gold, TRX, PAX, and BNB.
If you use Nexo for your crypto transactions, you will not have to pay any fees for it. However, if you want to have a crypto-backed loan you will have to pay an origination fee of 2% on it.
And, when you withdraw crypto coins from this exchange you will have to pay no fees for changing your digital assets into fiat or sending it to your bank account apart from the gas fees only which are variable and keep on changing over time.
However, if you choose to go with Crypto.com you will have to pay transaction fees as per their tiered maker-taker fee structure. The fee is determined on the basis of the trading volume of the users for the past 30 days and may range between 0.04% and 0.4%.
However, you are allowed to enjoy discounts within the range of 10% and 100% on these fees if you choose to stake CRO, the native coin of the Crypto.com platform.
In the case of making withdrawals, the fees on this exchange usually vary depending on the type of transaction as well as the amount of the crypto coins withdrawn.
6. Trading and Withdrawal Limits
As for the trading limits, the maximum trading amount allowed by Nexo is $100,000 for each transaction. However, there is no limit on the number of transactions in a day.
In comparison, the same limit on Crypto.com varies depending on the type of coin. For example, for Bitcoin it is 20, for Ethereum it is 480 and for Litecoin it is about 900. However, check for the latest updates from the website.
As for making withdrawals on Nexo, you are allowed to make one free withdrawal in a month if you hold the basic account, two if you hold the silver account, three if you own a gold account and five for all platinum account holders.
On the other hand, as for Crypto.com, it is equal to 10 BTC rolling for a 24-hour period or $10000 per day and up to $500,000 in a month.
7. Few Other Differences
Here are a few other differences between Nexo and Crypto.com that are also good to know.
There are no options to place limit orders on Nexo but with Crypto.com there is no such restriction.
As for margin trading, you are allowed to do so on Crypto.com but not if you choose to use the Nexo platform.
The spreads on Nexo are comparatively higher being about 2% as opposed to 0.25% and 0.5% on Cryypto.com.
The Nexo platform allows the users to enjoy up to 12% on interest accounts whereas that of Crypto.com is a bit higher at 14%.
However, the interest rates on crypto coins on Nexo, whether it is Bitcoin, Ethereum or Litecoin, are offered within 4 to 8%, but with a few like Tether and USD Coin, it can go up to 12%. On the other hand, the interest rates offered by Crypto.com on crypto coins can be as low as 0.5% and as high as 14%.
There is no debit card purchase fee on Nexo but on Crypto.com it is 2.99% in the US and most of the other countries but in a few others it can be as high as 3.99%.
When it comes to loaning, the minimum loan amount on crypto.com is $100 while that of Nexo is $500.
As for the native tokens of these two platforms, that of Crypto.com is known and represented as CRO and that of Nexo is called the Nexo token.
If you consider using the Crypto.com debit card you will have the benefit of making international withdrawals without any fee but Nexo, in comparison, does not offer the option of making international withdrawals for free.
Crypto.com is a good platform to choose if you wish to make larger stakes. This is because it increases deposits by 2%, eventually giving you a much better rate than Nexo.
And, in terms of customer service, Nexo seems to be a bit better than Crypto.com, which may take days to resolve an issue.
Moreover, it seems to be scripted atrociously and is pretty slow since it has a large number of customers to support who are using so many of its products.
The customer support of Nexo on the other hand is quite above average and usually does not take more than a couple of days to get an issue resolved.
Which is Better – Crypto.com or Nexo?
Both Crypto.com and Nexo are reliable and popular platforms that have separate pools of insurance.
However, it is important to know the differences between them to analyze how each of them works in the crypto market.
As it is, both these crypto platforms, Crypto.com and Nexo are easy to use for the beginners.
However, most of the users find that Nexo is much easier to comprehend than Crypto.com.
This is because there are lots of facilities offered and a diverse range of activities can be performed on Crypto.com than Nexo.
Typically, you may consider Nexo as a crypto banking platform that offers a higher rate of interest on a reasonably large number of crypto coins and stablecoins. It is also a good platform to consider for having crypto-backed loans.
If you consider the loan aspect only, you will be able to differentiate between Crypto.com and Nexo quite efficiently and know why Nexo is a much better option than Crypto.com. Ideally,
- The platform is fully automated and is specifically designed to facilitate the loaning process.
- The process to get crypto loans on this platform is much easier as you will not have to go through several steps to select different loans and loan times.
This platform will offer the safest ways to earn interest on your crypto assets. The interest is offered in different currencies so that you can choose one according to your needs and preference. The list of currencies includes:
- EUR and
This platform also has a limited exchange.
And, if you want to go with a full-service crypto coin exchange you should consider going with Crypto.com as it offers a more extensive range of crypto coins than you would find in some of the most popular crypto exchanges, including Nexo.
This platform aims at providing more varied types of crypto services to the users in comparison to Nexo.
Apart from offering features like interest accounts on crypto coins and stablecoins, the platform also offers its users an NFT marketplace.
Their unique and efficient Pay feature allows the users to spend crypto coins in real time. In fact, it is a good platform for all-around crypto trading with reasonable fees.
To this point, Crypto.com can be considered to be a much better choice overall as compared to Nexo in spite of having almost similar interest rates on crypto. It is due to the more crypto services offered by the platform that makes it stand apart.
You will get to enjoy great sign-up promotions on Crypto.com, a feature that is found lacking in Nexo. Crypto.com is not only a reliable and proper exchange but is also a good fiat on-ramp.
However, despite these factors, you cannot simply write off Nexo saying it has nothing better to offer than Crypto.com.
The rates of interest of this platform on crypto-backed loans are slightly better than on Crypto.com.
You should choose to use Nexo if you want to have a pretty decent Annual Percentage Yield and use an all-inclusive mobile app that comes with some of the most useful and advanced security features.
However, be aware of the limited set of educational tools provided by this platform.
Alternatively, you can choose to go with Crypto.com if you want to have a wide range of Altcoins at your disposal and use a platform that comes with brilliant security features and a lot of useful features.
That is if you are okay with an average and quite slow customer service and with the fact that this platform does not offer crypto loans in the USA.
Irrespective of the rates and variances in fees, overall the fees charged by Nexo are much cheaper in comparison to Crypto.com when it comes to lending funds.
Typically, Crypto.com charges anywhere between 10% and 12% for crypto-backed loans as opposed to only 6% to 7% charged by Nexo in most cases.
And, if you are interested in the interest rates then it is much lower on Crypto.com than Nexo.
In short, Crypto.com is a popular and reliable digital assets trading platform for both the crypto investors and traders to diversify their portfolios.
The Crypto Credit facility offered by this platform is also quite useful to get loans at an interest rate of approximately 8% for most of the transactions.
There is also a Crypto.com Visa card that can give back up to 8% to the users as well.
This platform is one of the fastest platforms where calculations and payouts are made within a span of an hour.
This secure platform also has a dedicated DeFi section which is quite popular in the blockchain which features three distinct categories namely:
- DeFi exchange
- DeFi wallet and
- DeFi swap
On the other hand, the features of the Nexo platform can be summarized as a place where users can get crypto-backed loans easily at a comparatively affordable rate.
The interest payments are made on a daily basis which helps the people to gain knowledge and get the feel of the crypto world.
The NEXO token is an asset-backed dividend-paying token of the world. Users can enjoy the loyalty program of Nexo which is divided into silver, gold, and platinum tiers.
Dividends are paid on the token irrespective of the amount till the holders meet the requirements of holding them in the Nexo account and filling the ‘Advanced Verification’ form.
It also comes with a Nexo card which allows the users to spend their crypto coins without selling them.
As it is evident from this article that both Crypto.com and Nexo differ in a lot of ways. Now that you know them thoroughly it should be very easy for you to choose the best one among these two platforms according to your crypto needs.
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