Trading as a passion has been increasingly in the limelight since recent years. There are a variety of cryptocurrency systems available on the market that can assist a trader. Two such platforms are crypto.com and Celcius Crypto. Crypto.com analyses a trader’s or a person’s needs and, as a result, provides the necessary instruments for trading profitability. Celcius Crypto is one of thevery popular cryptocurrency exchanges platform existing in the market.
Crypto.com vs Celsius Crypto
The main difference between crypto.com and Celcius crypto is that Crypto.com launched in June of 2016. Hong Kong is where it is headquartered. It pays interest on a total of 36 currencies. However, Celsius Crypto was established in the year 2017. Celsius Crypto is based in New York. Celcius Crypto allows you to deposit and earn interest on 38 different cryptocurrencies.
A minimum quantity has been established for each cryptocurrency that must be deposited in Crypto.com to get interested. A specific amount must be paid to Crypto.com to withdraw the cryptocurrency. Crypto.com‘s exchange platform uses a personal computer or desktop. It is a web-based platform. Moreover, it can only be operated via a computer.
Celcius Crypto does not have a minimum deposit requirement. While withdrawing currency and funds from this account, it does not require any determined fees. However, Celcius Crypto can not be operated via computer, but only phone application. Celcius Crypto has not yet revealed what security mechanisms they have in place.
Comparison Table Between Crypto.com and Celsius Crypto
| Parameters of Comparison | Crypto.com | Celcius Crypto |
| HQ, Founded year | Hong Kong, 2016 | New York, 2017 |
| Number of currencies | 36 | 38 |
| Ways to buy | Credit card or Fiat | Debit, credit card, bank transfer |
| Interest accrual period | Weekly | Monday to Monday |
| Minimum deposit amount | Depends upon Currency | No minimum deposit amount is required. |
| Platform operated | Web | Mobile app |
| Interest rate type | In-kind | In-kind CEL |
| Type of interest | Simple interest | Compound interest |
| Withdrawal amount required | Depends upon the Currency withdraw | No withdrawal amount required |
| Security provided through | Ledger Vault Technology | PrimeTrust and Fireblocks |
What is Crypto.com?
Crypto.com was created in June of 2016. It is headquartered or has its headquarters in Hong Kong. It offers interest on a total of 36 different currencies. To be eligible for interest, each cryptocurrency has a minimum deposit amount that must be put in Crypto.com.
A predetermined fee is charged for withdrawing cryptocurrency, which must be paid to Crypto.com. Vault of ledgers Crypto.com uses technology to handle their customers’ assets, allowing them to manage funds more efficiently and securely. The platform through which exchanges can be done on Crypto.com is web-based.
Moreover, it can not be operated via mobile but only a desktop platform. Vault of Ledgers Crypto.com employs technology to handle customer assets, allowing them to manage funds more efficiently and securely. Crypto.com often pays a straightforward interest rate. Crypto.com usually pays a straightforward, simple interest rate.
What is Celcius Crypto?
In 2017, the company Celsius Crypto was established. New York is the headquarters of Celsius Crypto. Celcius Crypto allows you to deposit and earn interest on a total of 38 different cryptocurrencies. No minimum amount of fees is collected from the customer as a deposit amount.
Celcius crypto pays compound interest, which has a unique nature and quality. Withdrawal of assets and funds from Celcius Crypto does not require any amount of money. Celcius is only accessible through a mobile app. Celcius Crypto has not yet revealed what security measures they have in place, but it is known that they use prime trust and fire blocks.
The funds and assets in their custody are also insured. Celcius crypto pays a compound interest rate. However, it is known that they use prime trust and fire blocks and that the cash and assets in their care are insured.
Main Differences Between Crypto.com and Celsius Crypto
- In 2016 June, Crypto.com was founded. On the other hand, Celsius Crypto was founded in 2017.
- Crypto.com is based or headquartered in Hong Kong. On the other hand, Celsius Crypto is New York-based.
- Crypto.com provides interest on thirty-six different types of currencies. On the other hand, Celcius crypto provides a chance to deposit and interest on thirty-eight types of cryptocurrencies.
- To get interested paid, a minimum quantity for every cryptocurrency has been devised, which needs to be deposited in Crypto.com. On the other hand, celcius crypto does not possess any type of minimum deposit amount.
- For withdrawing the crypto, one is charged with a fixed amount that needs to be paid to Crypto.com. On the other hand, celcius crypto has not devised any fixed amount while withdrawing funds from your account.
- The Exchange platform of Crypto.com is a web-based platform, which can be operated only via desktop. On the other hand, celcius can be operated via mobile application only.
- Ledger Vault Technology is being used by Crypto.com to manage customer’s assets. With this, they can efficiently and securely manage funds. On the other hand, Celcius crypto has not yet disclosed the type of security measures they possess but known to use prime trust and fire blocks. However, it is insured for the funds and assets belonging to their custody.
- The type of interest paid by Crypto.com is generally a simple one. On the other hand, the nature and characteristic of interest paid by Celcius crypto is a compound one.
Conclusion
Both the accounts, crypto.com and Celcius crypto, are no doubt extra-ordinarily great in functioning. Investing in any of the two accounts would help you in earning a few more bucks as interest on your invested crypto. Before choosing either of the two platforms, some points should be considered.
Like the kind of currency one wants to keep. One can make as many withdrawals as he or she likes. Alternatively, the amount of interest one wants to earn. If one is willing to lock in one’s crypto for a set period.
Thus, if someone wants to avoid withdrawal or joining fees, then Celcius Crypto is a better platform. However, if someone wants a simple interest payout that can be operated easily through a laptop or personal computer, then Crypto.com is a better choice. Hence, it depends upon the individual which platform to choose to invest in.
References
- https://arxiv.org/abs/1910.06092
- https://dl.acm.org/doi/abs/10.1145/3428335