| Platform | Features | Ease of use | Security | Support | Reputation | Fees | Overall |
|---|---|---|---|---|---|---|---|
| Crypto.com | 4 | 5 | 4 | 4 | 5 | 5 | 4.5 |
| Celsius | 4 | 3 | 4 | 4 | 3 | 4 | 4 |
If you're new to cryptos, any exchange will suffice. Especially those with simple user interfaces and excellent customer service. Other issues, on the other hand, will eventually take precedence.
One of these is maximizing the amount of cryptocurrency yield you receive. After all, you started dabbling with cryptos in the first place to make money. Right?
Celsius Network and Crypto.com are two companies that give crypto services to a large number of people. But which one provides the best long-term returns?
The answer to this question is contingent on a number of circumstances, including the currency you use and the length of time you're willing to keep your assets locked up.
With that in mind, let's take a closer look at the differences and similarities between the two platforms. That way, you'll be able to tell which one is best for you without a doubt.
About Celsius Network
Celsius Network is a peer-to-peer lending network based in the United Kingdom, founded in 2017 by Daniel Mashinsky and Daniel Leon. Its goal remains the same: to become the bank for the 99%.
It intends to accomplish this by making banking decisions that benefit the entire firm rather than a few "fat cats" at the top.
The platform has a payment processing feature that allows users to transfer and receive cryptocurrency in a variety of ways. These methods include clicking on a link, sending a text message, or using your Celsius Network CelPay account.
The site does not have a minimum deposit requirement. Customers can earn money whether they're dealing with $5 or $5 million thanks to this feature. Celsius Network maintains the right to margin calls on its platform.
CEL, the company's native cryptocurrency, was launched in the spring of 2018. They held a crowd sale for their initial coin offering (ICO). Customers can now earn bonus interest on their accounts thanks to a service offered by Celsius Network.
The initiative also makes it easier to get a loan with reduced interest rates and prioritizes loan approval.
How do you take advantage of this program? By HODLing (holding your assets) primarily in the platform's native token, CEL. Find out more about Celsius Network's CEL token.
The Celsius Network had enormous growth in 2020, reaching a billion-dollar share of crypto deposits. The corporation alone generated around $8 billion in loans. Furthermore, the company's customer base grew to over 100,000 people, and it became profitable early in the year.
About Crypto.com
Crypto.com has a reputation for bringing cryptocurrencies into the mainstream. How? By providing a simple platform for trading, earning, borrowing, and paying in cryptocurrency.
One of its strongest features is that it allows you to manage the vast majority of your crypto demands in one place. The company offers the MCO Visa card, accompanied by a hard-to-beat 5% cashback. Customers receive this cashback in cryptos.
Customers can choose from five different payment card tiers. Each one is Visa-backed and comes with perks. Every purchase earns MCO tokens, which the firm uses to incentivize the use of these cards.
How do these cashback perks stack up against those offered by more typical credit cards? They're still very competitive, with higher-tier cards offering up to 3% cashback. That said, you'll need to stake at least $2,500 to reach these rewards.
Besides payment cards, Crypto.com also offers a wide selection of other services, including:
Mobile app
Trading
Credit lines
Earning
Payment processing
Apart from facilitating all of these operations, Crypto.com has two native tokens: MCO (previously Monaco) and Crypto.com Coin or CRO. In terms of market capitalization, both of these tokens have excellent rankings on CoinMarketCap.
Crypto.com offers a handy app, permitting customers to manage their accounts on the go.
USD Margin Lending- Return rates optimized daily
- Secure, stable investment growth
- No minimum
- No lock-up period, withdraw anytime
Celsius Network vs. Crypto.com: Safety and Security
Which platform is the safer of the two? Both platforms have shown to be reliable. Each one has solid financial backing and security safeguards in place.
However, there's no doubting that Celsius Network has gone above and beyond. It has a relationship with BitGo that guarantees up to $100 million in crypto deposits. Celsius relies on hot and cold wallet solutions from BitGo as well as another firm, Prime Trust.
The crypto giant also collaborates with the security firm Fireblocks to secure all lending activities. That means all hot wallets will now be secured with this additional layer of security.
What role does Crypto.com play? The company also has strong financial backing. Nonetheless, you may argue that Celsius Network's business model is more transparent and secure than Crypto.com's.
Of course, once everything is said and done, you should feel confident investing on either of these platforms. They've both done their security homework, after all. However, Crypto.com money would be more exposed than Celsius Network's in the unlikely event of a market crash.
Celsius Network vs. Crypto.com: Finding the Best Yields
We've finally arrived at the moment you've all been waiting for. Which platform provides the best returns? Celsius Network is without a doubt the winner.
Unless you're willing to put down 10,000 CRO or more, Crypto.com isn't even close. You should also take advantage of the school's three-month term scheduling. That said, Crypto.com's rates under these conditions are no better than those of Celsius Network.
As a result, choosing Celsius makes more sense. In that manner, you can avoid the above-mentioned lock-in period. After all, there's a certain amount of value and incomparable ease in being able to withdraw funds at any moment without incurring a fee or penalty.
There is just one circumstance in which Crypto.com will provide you with a better deal. You'll get a higher reward if you're comfortable trading completely in CRO, the site's native token. The trade-off is a loss of control over your coins and the currency type you select.
Is that worth it to some customers? Perhaps. But most customers will enjoy the best deals on yields by sticking with Celsius Network.
Celsius Network vs. Crypto.com: Signup Bonus Deals
What about the registration bonuses offered by each platform? Is it possible to pick a clear winner? Absolutely!
In this category, too, Celsius Network takes the prize. Why? To begin with, they don't require you to acquire and store local tokens for months on end in order to receive their bonus. However, Crypto.com is not one of them.
On the plus side, both bonuses prove relatively easy to access. You'll need to stake $50+ in cryptos to get started.
Compare with Celsius Network and Crypto.com alternatives
Similar Savings Accounts and Loans
| Coin | Platform | 5 Star Rating | Interest Rate (APY) |
|---|---|---|---|
| USDC | Nexo | 4 | 12% |
| BTC | Nexo | 4 | 8% |
| USDC | CoinLoan | 4 | 12.3% |
| BTC | CoinLoan | 4 | 7.2% |
| USDC | BlockFi | 3.5 | 9% |
| BTC | BlockFi | 3.5 | 4.5% |
| USDC | Midas.Investments | 4.5 | 19% |
| BTC | Midas.Investments | 4.5 | 17% |
| BTC | Celsius | 4 | 6.2% |
| USDC | Celsius | 4 | 8.88% |
| USDC | Hodlnaut | 4 | 12.7% |
| BTC | Hodlnaut | 4 | 7.5% |
| GUSD | Gemini | 3 | 8.05% |
| BTC | Gemini | 2 | 1.49% |
| BTC | Crypto.com | 3.5 | 6.5% |
| USDC | Crypto.com | 3.5 | 12% |
| USDC | Ledn | 3 | 9.5% |
| BTC | Ledn | 3 | 6.25% |
Celsius Network vs. Crypto.com: The Takeaway
Which platform should you use for your cryptocurrency requirements? That is ultimately determined by your objectives and financial situation.
Overall, the interest rates offered by Celsius Network are better. It also features lower fees for both withdrawals and loans secured by cryptocurrency. In the domains of capitalization and safety, Celsius also holds a minor advantage.
If the thought of storing huge sums of cryptocurrency on a platform makes you nervous, we recommend Celsius Network for added security. Celsius Network also has a more easily accessible registration incentive.
What about other considerations like customer service? Customer service interactions with Celsius Network's staff are outstanding in terms of quick, individualized responses.
They have distinct goals because Crypto.com's offering is still debit cards, rather than staking and loans. Although Crypto.com has more consumers to serve than Celsius Network, the distinction is noteworthy.
Why might some customers prefer Crypto.com? It represents an all-in-one cryptocurrency exchange. That means you can handle all of your staking, lending, and loan platform needs in one spot.
Crypto.com is difficult to beat if you're looking for a one-stop crypto shop. People who are unsure about buying on another exchange and then moving to Celsius's platform should use their services.
Crypto.com also offers superior interest rates on its native coin CRO. And you'll find their crypto exchange platform to be superior, with lower fees and more cryptocurrency support.
Celsius Network doesn’t have an exchange. Instead, the company outsources this service.
Making Money in Cryptocurrency
As you can see, both Celsius Network and Crypto.com provide simple service alternatives for people looking to invest (or extend their investments) in the cryptocurrency sector. When it comes to yields, however, Celsius Network outperforms Crypto.com.
The terms and conditions of Celsius Network's bonus registration offer are likewise significantly more flexible and tempting. There's no doubting the attractiveness of Crypto.com for clients who value the capacity to accomplish all crypto functions in one place.
Just know you'll need to deal in their native coin, CRO, and be willing to accept time-stamped contracts to access yield rates comparable to those of Celsius Network.
Are you interested in learning more about how to make money in cryptocurrency?
Explore our wide array of crypto exchange reviews. These reviews will provide you with all of the information you need about the DeFi and CeFi industry so that you can make the best financial decisions possible.