Features
eToro offers diverse features, including copy trading, allowing Aussie investors to mimic top-performing eToro users' trades. It also supports cryptocurrency staking services, a social media platform built directly into the exchange, and a virtual trading feature where users can make paper trades up to $100,000 to practise trading without risking their capital.
Crypto.com also provides a variety of features to its users. However, not every service is accessible to Australian investors. For those residing in Australia, the platform offers its crypto trading and staking, plus an NFT Marketplace.
Winner: eToro provides more features than Crypto.com, and all of its services are available to Aussie investors.
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Pricing
eToro users will not incur any deposit fees when transferring AUD to the platform and withdrawals are capped at $5 per transaction. There is a small 1% fee when buying cryptocurrencies, and a 0% commission on all stocks, indices, ETFs, commodities and fiat currencies.
Crypto.com offers a competitively low fee structure, with trading fees starting from a low 0.0750% and reducing to 0.05% depending on your monthly trading volume and the amount of CRO tokens held. Additionally, deposit and withdrawal transactions are completely free of charge.
Winner: Crypto.com has some of the lowest fees to trade crypto worldwide, starting from 0.075%.
AUD Deposit Methods
eToro provides access to more than 20 global payment options, but only seven methods accept Australian dollars. Individuals from Australia can deposit AUD into the platform using POLi, bank transfers, credit cards, debit cards, Skrill, Neteller, and PayPal.
Crypto.com provides limited options, which include SWIFT, FEDWIRE, and SEN deposit methods.
Winner: eToro has a wider selection of payment methods that accept AUD when compared to Crypto.com.
Supported Tokens
eToro may be limited in terms of cryptocurrencies available to invest in, and it currently supports 80 tokens. However, it provides access to 3000+ other assets, including thousands of stocks, hundreds of ETFs and indices, and multiple fiat currencies and commodities like Gold or Copper.
Crypto.com has one of the largest selections of cryptocurrencies to invest in out of any centralised cryptocurrency exchange in the world. However, Australian users only have access to over 40 tokens - a significantly degraded experience compared to users in the United States.
Winner: eToro has double the amount of cryptocurrencies that Crypto.com does and offers thousands of other assets.
Security
Both crypto exchanges are regulated by ASIC and AUSTRAC, making them both highly secure cryptocurrency trading platforms. However, eToro has been operating since 2007, and in that time, it has never been hacked or had its security penetrated, proving it is battle-tested. Crypto.com, on the other hand, has been subject to a cyber attack in the past.
Winner: eToro is widely considered one of the most secure and reliable exchanges globally and has impeccable security measures in place to prevent attacks.
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Customer Service
The multilingual eToro support staff can be contacted through multiple channels, such as live chat, email, phone, and social media platforms like Instagram, Twitter, YouTube, and Facebook. With an outstanding 4.3-star rating based on over 20,000 Trustpilot reviews, the eToro trading platform consistently receives praise for its attentive and efficient customer service.
Crypto.com delivers outstanding customer service via a 24/7 live chat feature accessible in eight languages. In addition to the live chat, clients can reach the support staff through email, an online ticket submission system, and various social media channels such as Twitter, Instagram, Reddit, Discord, and Telegram. Unfortunately, its support is ranked 1.9 stars on Trustpilot.
Winner: eToro has a significantly higher rating on Trustpilot than Crypto.com with most of its reviews commenting on the excellent customer service.
Conclusion
To recap, eToro is by far the best cryptocurrency investing platform for Australian investors. It is a social trading platform that has low fees, multiple AUD deposit methods, high-security measures, a wide range of assets to trade and unique features like copy trading and a virtual trading platform. To learn more about this exchange, visit our detailed eToro Review.
