Comparison of Crypto.com vs Phemex [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Crypto.com vs Phemex comparison!

Your expert: Alejandro Borja

Crypto.com

Your expert: Xavier Tarrasó

Phemex

Main points

Fees

≈ 0,075%

Earns

Customer service

4/5

0,10%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.5 – Low fees with additional rewards for using the native token.

4.1 – Low fees with a focus on derivatives trading.

Level

≈ 0,075%

0,10%

Brief explanation

Crypto.com offers a competitive and transparent fee structure that is designed to accommodate both novice and experienced traders. The platform charges a tiered fee system based on the trading volume over a 30-day period, encouraging active trading with lower fees for higher volumes. Maker fees start low and can decrease with increased trading activity, while taker fees remain competitive within the industry. Additionally, Crypto.com offers fee reductions for users who hold and use their native CRO token, providing an extra incentive to engage with the platform’s ecosystem. This fee system not only enhances trading efficiency but also ensures that traders can maximize their profits while minimizing costs.

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

Crypto.com

Security Methods: Crypto.com places a high emphasis on security, employing a multi-layered approach that includes cold storage for all cryptocurrencies, a dedicated security team, and the use of HSMs and multi-signature keys. This comprehensive security infrastructure minimizes the risk of hacks and unauthorized access, making it a secure choice for handling digital assets.
Possible Regulation: The platform is known for its strong compliance with global financial regulations. Crypto.com is registered with and regulated by leading financial authorities, which ensures that they adhere to strict rules and regulations, enhancing their credibility and reliability in the cryptocurrency market.
Reputation and Reviews: Crypto.com enjoys a positive reputation in the crypto community, evidenced by favorable reviews across multiple platforms. The platform is often praised for its broad range of services and the ease of use, which has helped it to build a loyal user base.
Trading Volume and Liquidity: The exchange is known for its high trading volume and liquidity, which ensures that users can execute trades quickly and at desired prices without significant price slippage. This makes it an attractive option for both casual traders and experienced investors.
Number of Users: With over 10 million users globally, Crypto.com’s large user base not only reflects its popularity but also contributes to its liquidity and network effect. A large and growing user base often indicates a trusted and well-utilized platform in the cryptocurrency world.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token CRO (Crypto.com Coin)

Earns

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Foris DAX Asia Pte Ltd

Phemex Financial Pte. Ltd.

Regulation

Regulated in Malta

Not regulated

Year founded

2016

2019

Founder

Kris Marszalek

Jack Tao

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Crypto.com	FEATURES	Phemex
Offers a low minimum trade amount, making it accessible for beginners and casual investors.	Minimum Trade	Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.
Competitive fees with discounts available for higher volume trades and CRO token holders.	Trading and Transaction Fees	Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.
Supports a wide range of cryptocurrencies, catering to both popular and niche market interests.	Number of Cryptocurrencies	Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.
Extensive range of trading pairs available, offering great flexibility in trading strategies.	Crypto-to-Crypto Trading Pairs	Extensive selection of trading pairs, allowing users to diversify their trading strategies.
The website provides clear information, though it can be overwhelming for new users.	Website Transparency	The website provides essential information, although some users may find details on fees and terms could be clearer.
Crypto.com excels with its extensive benefits and ease of use, making it one of the top choices for a crypto exchange card.	Credit/Debit Card	Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.
Provides secure storage options with offline cold storage and a proprietary hot wallet.	Storage Offering	Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.
Offers competitive staking options and rewards, enhancing investment returns for users.	Staking and Rewards	Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.
Highly functional and user-friendly interfaces on both mobile and desktop platforms.	Mobile App and Desktop	Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.
Customer support is available but response times can be slow and may affect user satisfaction.	Customer Service	Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.
Flexible deposit and withdrawal policies with multiple methods available, but can improve on speed.	Deposit and Withdraw	Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.

Key features

Analysis tools

Advanced charting, technical analysis tools

Advanced charting tools, technical analysis

Mobile APP

Yes

Security

High 4,9/5

Additional features

Crypto debit card, staking, Crypto Earn program, Crypto.com Pay

Margin trading, futures trading, staking, Phemex Earn

Anonymity

Yes

Key points

Available cryptocurrencies

150+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

Crypto.com is known for its user-friendly interface, making it an excellent choice for beginners. The platform is simple to navigate, and the process of buying and selling cryptocurrencies is straightforward.

Phemex provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Offers excellent value for money with low trading fees, a wide range of financial products, and rewards for using its native token.

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Great for all types of investors, from beginners to advanced traders, due to its low fees, wide range of financial products, and rewards.

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Base currencies available

USD, EUR, GBP, BTC, USDT, CRO

USD, BTC, USDT

Account

Trading

Crypto.com provides a comprehensive platform with a wide range of cryptocurrencies, competitive fees, and additional services like a debit card and staking. However, its interface can be complex for beginners.

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Deposit and withdrawal

Crypto.com offers a comprehensive range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with minimal fees .

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

Crypto.com offers a user-friendly and seamless account opening process. Users need to provide personal information, complete KYC verification, and the process is typically completed within a day. It’s secure and efficient.

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

KYC required?

Yes

Customer Service

Crypto.com offers comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Phemex offers extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Security

Crypto.com provides robust security with 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors .

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

At Threenvest, our comprehensive review of Crypto.com reveals a platform that is robust, versatile, and tailored to meet the needs of a diverse user base—from beginners making their first cryptocurrency purchase to seasoned traders engaging in complex trading strategies. Crypto.com stands out in the competitive landscape of cryptocurrency exchanges with its extensive range of services, including a wide array of cryptocurrencies, advanced trading features, and the innovative Crypto.com Visa Card, which bridges the gap between digital and traditional finance. This integration of crypto functionality into everyday financial activities sets it apart from many other platforms, offering users a practical way to use their crypto assets in the real world. However, while Crypto.com excels in offering a secure environment and a broad spectrum of financial products, it does have areas where improvement could enhance user experience. New users might find the platform’s interface and the plethora of features daunting, a common issue that could be mitigated with more tailored educational resources and a simplified user interface. Furthermore, the heavy reliance on its native CRO token to unlock the best trading fees and rewards might not appeal to everyone. In comparison to other major exchanges, Crypto.com provides a unique blend of features but could improve its accessibility and reduce its dependency on specific cryptocurrencies. At Threenvest, we recognize Crypto.com as a significant player in the crypto space, capable of delivering exceptional value to its users, yet we also acknowledge the importance of continuous improvement in user engagement and platform intuitiveness.

Xavier Tarrasó

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.