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Which Is Best Amongst BlockFi and Crypto.com?

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Which Is Best Amongst BlockFi and Crypto.com?

When it comes to crypto exchange services, one of the strongest comparisons that come in is between BlockFi and Crypto.com. Both these exchanges are doing great in their respective sphere.

But here a comparison regarding both these exchange platforms will be made so that you get a precise idea as to which cryptocurrency exchange platforms amongst both of the above-mentioned platforms will suit best for you. In order to see more, you can visit the official website and learn bitcoin trading.

BlockFi

BlockFi lays its foundation year in 2017. The two names that are entrusted with this exchange are Flori Marquez and Zac Prince.

The exchange has its headquarters situated in New Jersey. There is a very big investment that has been made by many big names in this exchange. Its fresh funding has taken place in the year 2021 March, where it was able to raise a hefty amount. If we see the assets under management, there are around 15 billion dollars under this exchange.

Crypto.com

The name under which this exchange was first released was Monaco Technologies in the year 2016. The place of its launch is Hong Kong. But later in the year 2018, it got a new name which is Crypto.com.

This company gained much usage as well as popularity when it was accepted by the Government of Hong Kong under the program Supercharger in the year 2017.

This company is looked after by its CEO Kris Marszalek as well as its CFO Rafael Melo. Many big names are associated with this exchange in cryptocurrency as well as conventional finance.

Comparison Between These Two Platforms

Interest Rates

Both this exchange platform provides their users with a certain amount of interest on the stored cryptocurrency assets. Since BlockFi’s usage is much simpler, it significantly improves the user experience.

One only needs to make calculations to what they have stored in their accounts so that they get to know the interests they will be getting.

On the contrary, if we talk about crypto.com, this platform is rather complicated to use in comparison to BlockFi. The rate of interest on this platform differs as to the terms a user stores his assets.

Customer Support

Live phone service is offered by BlockFi from 9:30 AM to 5 PM EST. In the event there is any query that users are facing, the company’s website provides an online FAQ website to resolve their issues.

A support section on Crypto.com contains solutions to frequently asked issues. Additionally, the business also offers email assistance.

Payments And Withdrawals

Interest on BlockFi accrues every day and is given away monthly. Many of its rivals provide daily interest payments.

All withdrawals at Crypto.com are subject to fees. This enables a user to make a no-cost withdrawal option. Therefore, sending bitcoin to other Crypto.com users is free of charge.

Security

Both Crypto.com and BlockFi seem to treat users’ security carefully, and none of them has reported a serious compromise affecting customers’ money.

A substantial percentage of the money that BlockFi keeps on hand is kept in cold storage. Gemini, which has a SOC accreditation from Deloitte, is in charge of managing this. There are routine audits that are performed by the Bureau Veritas for Crypto.com.

Conclusion

For every cryptocurrency to be stored securely, an exchange platform is needed. But to opt for an exchange platform needs a lot of searches so that none of us commits a mistake.

Here two very famous platforms in that context have been given. A detailed comparison as well is also given. I hope you will come to a conclusion with the help of this article if you are confused between the two above-mentioned platforms.

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