Backpack vs crypto.com Comparison

Editorial assessment, November 2026: We have downgraded Backpack to 2.0 out of 5 and make no recommendation. The European entity Trek Technologies SIA (Backpack EU) has been authorised under MiCA since 27 May 2026 and is listed in the ESMA register (file dated 5 November 2026). On cost transparency, coin selection and savings features, however, Backpack falls short of the exchanges we recommend: we found no published fees for withdrawals to your own wallet, the offer covers around 50 coins, and there is no savings plan. MiCA-licensed exchanges are listed in our exchange comparison.

Backpack is operated by Trek Labs, a team that also includes former FTX employees. Its European entity is regulated in the EU: on 27 May 2026, the Bank of Latvia granted Trek Technologies SIA two licences, a CASP authorisation under MiCA and a payment institution licence. For derivatives, the provider names Trek Labs Europe Ltd, an investment firm under MiFID II supervised by Cyprus's CySEC, and there is also a VARA licence in Dubai. The low maker fees starting at 0.08% and the integration of wallet and exchange in one ecosystem are appreciated by users.

Cost transparency is seen as room for improvement; in particular, the undisclosed wallet transfer fees and swap fees of 0.85% are occasionally criticized. The selection of around 50 cryptocurrencies is limited compared with larger exchanges, and the lack of a savings plan limits the options for long-term investors.

The connection to former FTX employees is viewed differently in the market. Backpack is aimed primarily at technically savvy users who are looking for low trading fees and integrated wallet features and are willing to make compromises on cost transparency and coin selection.

Crypto.com is especially valued for its own Visa card with cashback program, which is considered a unique selling point in the crypto market. With more than 400 tradable cryptocurrencies, savings plans, and staking, the platform, active since 2016, offers a broad range of services. The minimum investment starting at €3 is seen as particularly beginner-friendly.

In Germany, Crypto.com operates under the MiCA licence that the Malta Financial Services Authority (MFSA) granted to Foris DAX MT Limited on 27 January 2025 and which applies across the EU, so no separate BaFin licence is required. According to Crypto.com, a purchase in the app costs 0.80%, up to 4% by card, and a EUR withdrawal via SEPA costs EUR 1. Users occasionally criticise the limited cost transparency.

The card terms changed in 2026: cashback is only paid on the paid tiers, with Level Up Plus at €3.99 a month earning 1.5% on up to US$750 of card spending a month and the top tiers up to 4.5%; the free Midnight card earns 0%. Since 1 October 2026, Ruby, Jade and Indigo also pay a 2% foreign transaction fee outside the EU and UK above a monthly allowance of €400 or €800, and a card without spending costs €6 a month after twelve months.

Crypto.com is mainly considered suitable for users who want to actively use the Visa card with cashback and are prepared to pay for a Level Up tier.