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Crypto.com vs Ledn: The Pros, Cons and How they Compare | Bitcompare

Crypto.com and Ledn are leading crypto lending and borrowing platforms that compete to give you the best rates. We break them down to see which is better.


  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
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  • 3.67
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  • 3.83
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Pros and cons of Crypto.com

Pros

  • Is a complete crypto platform
  • Offers frequent promotions
  • Permits you to earn returns on your deposits
  • Includes a high-speed exchange with competitive fees
  • Offers a crypto-backed rewards card
  • High-speed exchange with competitive fees

Cons

  • Having to stake CRO or MCO to get the most out of your MCO rewards
  • A general lack of transparency regarding where funds come from
  • A confusing two token system (e.g., CRO and MCO)

Pros and cons of Ledn

Pros

  • No "utility" tokens
  • Bitcoin focused company
  • Cold-storage and proof-of-reserves
  • No monetization of users' data
  • Two-factor authentication
  • Data stored on private networks blocked from public IPs
  • Bitcoin offered through BitGo Custody
  • Minimal personal information requirements to open an account
  • In-house KYC and AML verification
  • No penalty fees for deposits and withdrawals

Cons

  • New company, two years old as of August 2020
  • Limited choices, offers a standard loan plan
  • No mobile app, only accessible in a web browser
  • Not available to individuals sanctioned by Canada
  • Not open to residents of New York, Connecticut, Washington, and Wyoming
Promoted

Risk-free and high-yield tool to store your coins

  • Earn up to 12% APR on EURS, USDT, ETH, XRP, and 20+ more coins
  • Weekly compound interest payouts
  • Universal conversion between all crypto, fiat, and stablecoins
Types
Platforms
Coins

Crypto.com: Frequently Asked Questions (FAQs)

Now that you've got a much better concept of what you'll get with Crypto.com, let's take a look at some of the platform's most frequently asked questions (FAQs). These common customer inquiries will provide you with insights into everyday aspects of using the app, card, and more.

Which Cryptocurrencies Are Accepted by Crypto Pay?

At the moment, you only have one option when it comes to Crypto Pay. The platform currently only accepts Crypto.co Coin (CRO).

What Should You Know About Crypto.com DeFi Swap Fees?

Crypto.com's DeFi swap permits users to connect their personal Ethereum wallet for effortless and streamlined ERC-20 token swaps, unlike the app or exchange.

Generally, you'll get charged 0.3 percent fees to liquidity providers for token swapping fees. These fees support the run of smart contracts.

To get started, connect your Defi Swap with your Crypto.com Defi Wallet. When transferring crypto in the Ethereum network, you must pay gas fees.

Choose between average, fast, and super transaction confirmation speeds. Remember that average and super-fast speeds respectively represent low and very high transaction fees.

Which Wallets Are Compatible With Crypto Pay?

You've got incredible flexibility when it comes to Crypto.com. You may use any wallet that both holds and sends Crypto.com Coin (CRO) with Crypto Pay.

Frequently asked questions about Ledn

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

What Services Does Ledn Offer?

When you open a Ledn account, you gain access to a suite of products, permitting you to take the greatest advantage of your digital assets. The platform's savings products provide customers with extra yield. 

Ledn's credit products permit customers to HODL their Bitcoin while still accessing dollars to purchase more crypto holdings.

How Does Ledn Wallet Work?

Ledn Wallet is a segregated wallet address for on-chain, real-time verification, or proof-of-reserves. Ledn offers insurance on user's assets through BitGo Insured Custody. As a result, you can rest assured your assets are safe with Ledn.

How Secure Is Ledn?

What about security? The website relies on multiple layers of protection to keep its users safe.

These include the use of passwords and HTTPS. All data deemed sensitive is encrypted with AES-256 and controlled by a set of strict internal security policies. 

What's more, the platform requires additional two-factor authentication and login actions to verify users' authenticity. Ledn keeps collateral Bitcoin in cold storage offline in vaults rated institutional-grade. These are located throughout Canada.

What Steps Does Ledn Take to Protect User Privacy?

Ledn doesn't monetize or sell any of its customer data to third parties, which is a significant relief for those using this platform. This approach to privacy means a reduced risk of data breaches, which is fantastic, no matter how you slice it.

What data does Ledn require from users? Only what's needed to meet compliance requirements. That said, the company never overreaches beyond requests for absolutely necessary information.

Can I Withdraw Assets at Any Time?

With a Ledn Savings Account, you can withdraw funds without any penalties at any time. You may also pay off your loan without any early payment penalties. 

Withdrawal requests get processed quickly, and the platform strives to have your Bitcoin in your wallet within 24 to 72 hours.

How Does Ledn Store User Data?

They store this data on private networks, blocked from public IPs. You may also request that Ledn delete this data at any time, making it an excellent option from a privacy standpoint.

  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
  • 4
  • 3
  • 4
  • 4
  • 3
  • 4
  • 3.67
Go to site
  • 3
  • 4
  • 4
  • 4
  • 4
  • 4
  • 3.83
Go to site