Crypto.com vs PointPay: Which Is A Better Crypto Lending Platform In 2022?
Welcome readers. In this post, we will compare two of the best crypto lending platforms in Australia, Crypto.com vs PointPay.
Crypto.com and PointPay are two of the most innovative crypto platforms right now. According to the users, these two platforms combine the quality and safety of the best crypto exchanges with the intuitiveness and simplicity of their next-generation platforms.
But what if you have to choose between crypto.com and PointPay? It’s a hard choice, as both these platforms seem to be choke-full of highly interactive features.
Crypto.com vs PointPay: Which One Should You Choose?
To find out for sure which amongst Crypto.com and Pointpay is better and not fall prey to the chaos of overwhelming information circulating on the internet, read our Crypto.com vs PointPay comparison.
We have thoroughly tested various services offered by both platforms. Below, we will expose everything we have discovered and answer the burning question: Crypto.com vs PointPay – which is better in 2022.
|Platform Type||Interest Account + Crypto Exchange||Crypto Banking+Crypto Exchange|
|Buy/Deposit Methods||Wire transfers, crypto deposits, PayPal||Bank transfer, Crypto deposits|
|Fiat Currencies Supported||20+||9+|
|Countries Supported||100+ Markets||Worldwide|
|Minimum Deposit||$1||Varies based on currencies|
|Spread||0.25% – 0.5%||n/a|
|Security||Two Factor Authentication||Two Factor Authentication|
Crypto.com is among the most rapidly growing cryptocurrency apps in 2022. Since its inception in 2016, the platform has only witnessed an upward trend and currently has more than 10 million users worldwide.
The huge popularity of crypto.com is primarily due to the heap of features that this trading exchange offers. You can count leveraged trading, betting, and the Crypto.com Visa card amongst its star features.
Moreover, Australian residents are at a particular advantage because the exchange offers seamless transactions in AUD and currently sits in the ranks of top crypto exchanges in Australia.
On top of that, the platform also offers its own cryptocurrency, the Crypto.com Coin (CRO), which stores many benefits of its own.
Who Is Crypto.com Owned By?
Crypto.com is currently operated from Singapore by Foris DAX Asia – it’s a subsidiary of Foris DAX MT (Malta) Limited. Additionally, the exchange has its presence in more than thirty countries.
Moreover, the platform enjoys significant popularity in Australia, where it has consolidated its presence and caters to a vast Australian audience.
Is Crypto.com Insured?
Yes. You can be at ease that your money with crypto.com is completely safe. Crypto.com seems to take its user’s investment quite seriously and fully insures its assets to compensate for any theft or loss.
Initially, crypto.com pledged $360 million for insurance to compensate for any breach or theft. But recently, the platform has expanded its capital to $750 million.
Australian residents, too, are covered under the insurance and enjoy the same protection as other users from different countries.
Crypto.com Pros and Cons
In this segment of Crypto.com vs PointPay, we will summarize the pros and cons of crypto.com and showcase where this exchange excels and where it needs improvement.
- Staking – one of its flagship features, offers a very attractive return of around 14.5%.
- There is no minimum deposit limit, which lowers the entry barrier and allows seamless adoption of the platform.
- Beautifully curated app with latest generation features.
- A wide selection of coins is available to trade.
- Visa card that offers around 8% cashback.
- The verification process is lengthy and includes several steps.
- There is a minimum withdrawal limit of AUD 100.
PontPay is not just your traditional crypto exchange but something more. PointPay aims to be a pioneer in the crypto space with its unique approach to dealing with cryptocurrencies. In addition to providing traditional trading services, PointPay also includes a full-scale crypto banking system.
Like another banking system, PointPay aims to become a one-stop solution for all blockchain-related banking facilities. And since its beginning, it’s already carved a niche for itself and seems poised to grow manifold in the coming years.
You can operate PointPay similar to any banking system and open savings or crypto checking accounts. On top of that, you also earn handsome interest on your crypto capital, just like any fiat money banking system.
How Do I Purchase PointPay?
You can easily purchase a PointPay token via the website, but you need a PointPay account. In case you have registered on the PointPay website, here are the steps to buy PointPay tokens;
- Log in to your account, and choose the buy token option.
- Next, select the cryptocurrency you want to pay with for PXP tokens.
- If you don’t have cryptocurrencies, first navigate to PointPay Payment System to buy Ethereum.
- You can pay for buying Ethereum on PointPay via credit or debit card.
- Once you have cryptocurrency, complete the payment to buy PXP tokens.
Is PointPay a Good Investment?
PointPay has risen quickly in popularity due to its commitment to becoming the topmost crypto-bank globally. The unique approach seems to have rapidly caught the users’ attention, and there appears to be an increasing interest in the platform.
Moreover, the lending feature, instant transfer facility between banking applications, and the opportunity to earn 4% to 8% interest against assets which can reach as high as 30% in the case of PXP token make it a lucrative platform.
Despite all these amazing features, PointPay is still in the nascent stage and therefore offers an advantage to early adopters to increase their investment manifold. So yes, PointPay is indeed a good investment.
PointPay Pros and Cons
In this segment, we will discuss some of the pros and cons of the Poinpay platform.
- International presence allows easy onboarding.
- Offers a one-stop solution to trade or store, or lend cryptocurrencies.
- Its proprietary blockchain banking services are unique and offer compound interest against crypto capital.
- The fees of PointPay are quite reasonable given the countless services it offers.
- Payment deposits, withdrawals, and conversion processes are hassle-free.
- No desktop application is available yet.
- Lack of tools for in-depth analysis of the market.
There is no shortage of attractive features on crypto.com, and that’s why it outshines other leading crypto exchanges in Australia.
As a top-tier exchange, crypto.com offers some unique solutions to its users. Firstly, the exchange is very intuitive and practical and heavily emphasizes providing a fast and safe trading platform.
Its decentralized app is amongst the few that provide payment cards in partnership with VISA. This card lets you earn attractive cashback of up to 8%.
Moreover, the exchange also offers several opportunities to earn extra via its Crypto earn” and ”Supercharger.”
Additionally, a staking facility is also available, allowing lucrative returns on the staked assets.
The main attraction of PointPay is its unique banking services. The Blockchain-based bank allows storing coins and earning interest on them.
Another unique feature of PointPay is crypto lending. It allows better returns on its native token and significantly boosts profit.
Apart from being a blockchain-based bank, Pointpay is also a top crypto exchange that offers seamless crypto trading.
Crypto.com vs PointPay Features Winner
Crypto.com and PointPay are totally different platforms with their own unique aspects. The comparison between its features is therefore of little significance.
While crypto.com is purely a trading platform, PointPay aims to be a full-fledged blockchain-based bank. But it also allows crypto trading too, and that’s what put it ahead of crypto.com.
Crypto.com Fees And Interest Rate
Crypto.com has many strengths, but it appears that the exchange is a little pricey when it comes to fees.
Deposit fees are free, which is nothing surprising. Likewise, exchanging cryptos on the crypto.com app will cost you nothing.
Trading fees are variable and depend on the coin you trade. However, there is a possibility of lowering the fees if you stake CRO. Then you can benefit from attractive discounts.
As far as the interest rates are concerned, users have some advantages. You can avail of 14.5% interest on staking, while stable coins offer you 10.5% of interest.
PointPay Fees And Interest Rate
BTC deposits on PointPay won’t incur any charges; however, a withdrawal of one BTC costs around 0.00049 BTC. Similarly, the total exchange fees that include both maker and taker fees come around .01% of the trade.
Moreover, users earn an interest rate ranging from 4% to 8% against their stored capital. In terms of PXP tokens, the interest can reach as high as 30%, which surely will appeal to those considering onboarding the PointPay platform.
Crypto.com vs PointPay Fee And Interest Rate Winner
In terms of fees between PointPay and crypto.com, PointPay appears to be a better choice. The fees are more reasonable, plus the compound interest applied to the stored assets significantly multiplies the profits.
Both the “browser” and “mobile” versions of the crypto.com exchange are user-friendly and convenient. The interface is clean and allows easy navigability on the dashboard.
Additionally, crypto.com offers an easy-to-use app available on both android and iOS platforms.
PointPay will be more appropriate for experienced users, primarily due to its combination of banking and trading features.
New users might find it troubling to tread the complex dashboard with all its functionality. Therefore if you are a newbie, you have to follow a learning curve before you can swiftly navigate through the PoinPay interface.
Crypto.com vs PointPay User-Friendliness Winner
As far as user-friendliness is concerned, crypto.com seems way ahead of PontPay. Its sleek interface is free from unnecessary clutter and allows easy accessibility of its various features.
Overall, an intuitive, easy-to-use interface and an equally interactive app allow it to outdo PointPay in the user-friendliness segment.
Crypto.com is a safe platform, and the exchange is pretty committed to protecting its users’ data and funds.
To this end, the platform has adopted several security measures. First and foremost, all the assets are stored in cold storage – that is, in an offline wallet.
Moreover, Multi-factor authentication (2FA) is also in place, which minimizes the threat of unauthorized account access.
Furthermore, Crypto.com guarantees the protection of funds via cryptographic keys. Incidentally, all deposits and withdrawal requests are closely analyzed to timely detect any suspicious transactions.
Finally, the exchange has tied with specialized security review firms for regular tests and verifications on its various security systems and to detect vulnerabilities.
PointPay, too, has a similar security infrastructure as that of crypto.com. Moreover, bulk transactions are closely monitored to detect any discrepancies.
Similarly, assets are stored in air-gapped cold wallets to offer maximum security against theft.
Moreover, the Secure Extra Payment Accounts facility is also available to further secure your transactions.
Crypto.com vs PointPay Security Winner
It’s almost impossible to point out a winner between crypto.com and PointPay. Both platforms seem to implement similar security features and appear to be equally safe.
However, when you deeply analyze, crypto.com seems a tad better. Therefore our vote will go to crypto.com for security.
PointPay vs Crypto.com Supported Coins
The number of supported coins is a crucial parameter to assess when two prominent exchanges like crypto.com and PointPay are put head to head.
However, PointPay is no match to crypto.com in terms of supported cryptocurrencies. PointPay only supports around 15 crypto coins, while crypto.com entertains about 250 coins.
That’s a vast difference and puts crypto.com way ahead of PointPay when it comes to supported coins.
PointPay vs Crypto.com Mobile App Support
Both crypto.com and PointPay maintain a strong mobile presence through their interactive apps. Similarly, the apps for both platforms are available on android and iOS platforms.
But, similar to its easy-to-use dashboard, the crypto.com app offers the same ease and therefore beats the PointPay app in terms of usability.
Crypto.com vs PointPay Supported Coins
The service provider needs to have a robust customer support infrastructure. Lacking this segment can be a big flaw in otherwise perfect-looking service.
In this regard, both Crypto.com and PointPay maintain a robust support system.
On crypto.com, you have a live chat available in several languages. Moreover, it maintains an extensive database of helpful info to get quick solutions for common issues.
Similarly, PointPay also ensures that customers’ queries are speedily resolved. An extensive database coupled with several contact points allows PointPay to efficiently address users’ concerns.
PointPay vs Crypto.com Customer Support
Entertaining a huge customer base comes with a cost, and cracks become evident in some segments. Customer support lacks agility, and service seems to be a bit stretched.
Therefore, users have to wait a few hours in some cases for a response. That’s not the case with PointPay, and thus it comes out as the winner in this segment.
Crypto.com vs PointPay – Final Verdict
Our crypto.com vs PointPay reviews paint a complete picture of these two widely popular exchanges.
However, deciding which one is better is a bit difficult, mainly because the two represent somewhat different approaches. While crypto.com offers lucrative crypto trading features, PointPay works differently and aims to be a Crypto Bank.
However, given the additional functionality of blockchain-based banking coupled with trading facilities, PointPay seems to lead the tally and appears to be a little better than crypto.com.