Compare Crypto.com vs YouHodler

Withdrawals on Crypto.com are completely automatic and run 24 hours per day. This means that withdrawals are generally very efficicent and in our tests withdrawals were completed in under an hour.

Withdrawals do attract fees, which are generally speaking around $10 USD.

Crypto.com allows you to whitelist external wallet addresses, meaning that funds can only be withdrawn to these addresses. There is also a feature to lock new whitelisted addresses for 24 hours, so that they do not become active until 24 hours after they were setup.

In order to be eligible to make withdrawals you need to have completed the platform Know Your Customer (KYC) and Anti-Money Laundering (AML) checks.

The minimum withdrawal amount for cryptocurrencies is 5 USD and for stablecoins is 50 USD. Most crypto withdrawals do not attract fees, but this does vary by currency.

In our experience withdrawals are very fast, and appear to be automatically processed as soon as the request is made.

Many customer reviews mention how smooth the withdrawal process is.

There is no record of YouHodler ever having frozen withdrawals.

All key activites on the Crypto.com are secured by multi-factor authentication including face ID and 2 factor authentication codes. In addition Crypto.com has passed multiple security audits including ISO 22301:2019, ISO/IEC 27701:2019, ISO/IEC 27001:2013 and PCIDSS v3.2.1 Level 1 compliance. The app has achieved the highest security rating for both NIST Cybersecurity and Privacy Frameworks. Finally Crypto.com contracts with third party security firms such as Kudelski Security to stress test their systems.

Crypto.com claims that 100% of user crypto deposits are held offline in cold storage wallets. These wallets are secured by cold storage custodian Ledger Vault. Crypto.com also hold $750M of insurance against loss of these assets.

All fiat deposits are held in Metropolitan Commercial Bank and are covered by FDIC insurance up to $250k USD.

Crypto.com is a substantial and complex business with activity in almost every aspect of Crypto. They have hugely ambitious plans and an experienced team behind them. How all of Crypto.com's various activities and subsidiaries connect together financially is not clear and the extent to which failure in one part of the business could have implications in other areas is also a concern. The method that Crypto.com uses to generate yield on their earn product is not clear, and so we can not be certain of the level of risk they are taking to generate customer returns. We can take some reassurance from Crypto.com's commitment to holding 100% of user deposits in cold storage.

We were not able to find any proof of reserves for Crypto.com. Proof of reserves are normally carried out by an external third party and provide assurance that the company has enough assets to pay out all customer liabilities (deposits) if required.

YouHodler offers two factor authentication on accounts to increase security against unauthorised access.

Fiat deposits are stored with reputable banks and crypto deposits are stored with Ledger Vault and covered by $150m insurance.

YouHodler is unique in its approach to yield generation. Unlike most other platforms, YouHodler does not lend funds outside of the platform. YouHodler does not invest funds into liquidity pools, DeFi protocols or other high-risk strategies. All yield is generated within the YouHodler platform through interest on loans taken out on the platform and fees charged by the platform.

We were unable to find any independent proof of reserves for YouHodler. Such proof would normally be undertaken by an independent accountant and would verify that the platform holds assets of greater value than customer liabilities (deposits). We hope YouHodler will look to introduce this in the future as it provides significant reassurance that the platform holds sufficient funds to repay all customer deposits if required.

YouHodler does provide a page of interesting stats about the platform. These stats include a chart which compares YouHodler's revenue against interest payments. The chart shows that revenue exceeds interest payments, although in some quarters the revenue has only marginally been higher than interest payments. Nonetheless, the chart provides some reassurance over the liquidity of the YouHodler platform.

YouHodler engages external security consultants to audit the security of the YouHodler platform.