Binance And Yg

binance-vs-competition

With cryptocurrency going mainstream and getting legitimized here and there, it is only a matter of time before a huge population wants to get in on the action. As such, marketplaces where people can buy, sell, exchange and trade digital assets have become crucial places.

To address this market demand, cryptocurrency exchanges were created.

A cryptocurrency exchange, by definition, is an online platform where users can trade one type of digital asset for the other. These exchanges will be based on the market value of the given assets.

In the real world, banks are financial institutions that are licensed to receive deposits, transfer funds, and store money for their clients. The banks regulate money. They are the only legal institution that can offer customers the ability to exchange fiat currencies for another.

Stock brokers can trade securities and stocks on a stock exchange. Only stocks that are listed on an exchange can be purchased or sold. As such, stock exchanges are basically marketplaces where stock buyers and sellers do their business.

In the digital world, cryptocurrency exchanges provide similar services to banks and Stock exchanges.

There are still people who treat cryptocurrency with fear and anxiety. For some people, cryptocurrencies and cryptocurrency exchanges are treated as borderline illegal online marketplaces.

They believe that these places can facilitate the trade of unregistered securities. They believe that crypto exchanges can be places where suspicious people can launder money and have limited AML/KYC to evade the law.

Some of these claims may not be entirely true. As with all dealings with cryptocurrency, there are inherent risks to using cryptocurrency exchanges.

There is a chance that law enforcement will close down an exchange. When this happens, these exchanges might not be able to return your money because some operate illegally in gray areas.

You may also be unable to withdraw or sell your cryptocurrency and digital assets due to your funds being locked in an exchange. This can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper authorities.

There is also the possibility that you will lose your money by speculating in cryptocurrency, and then have the rug pulled under your feet by the founders of these exchanges. This is especially true if these founders are scammers or hustlers who excel at what they do.

It is important to remember that cryptocurrency and any other related technology are always a risky business. It is smart to always proceed with caution. Like with gambling, there are more chances of losing than winning. High-risk, high reward.

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If you prefer to see the experience in a more visual way, Mark Farfan’s YouTube video review is for you. To get a comprehensive overview of Binance, you may still want to check out our article below, which compares it to some competitors.

Binance Exchange  Binance And Yg

Binance Overview

Binance is the most popular cryptocurrency exchange in the entire world. It offers the largest number of trading pairs and has the highest trading volume among all crypto exchange services.

Binance was established in 2017 by Changpeng Zhao, a Chinese-Canadian entrepreneur. The company was initially based in China, but with the growing crypto restriction on crypto in the country, it was moved to Japan and soon to Malta.

The company didn’t have a place to call home back then.

However, there is current news that the company was headed to Malta, where it is said to be currently based. That said, Binance serves most countries around the globe, except for the United States, where a specific version of the platform, Binance.US, had to be established.

Binance’s popularity among its users is due to its low fees, large selection of cryptocurrencies available, and innovative products. Binance has many products that are based upon cryptocurrency.

These products/services offer the opportunity to earn, trade, stake, derive and NFTs. The service allows you to get loans, make payments and even apply for credit cards.

Cryptos Under Binance

Binance has its own tokens and cryptocurrency. In fact, there are two.

The first one is called BUSD. It is a stablecoin fiat-backed issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. BUSD was created by the company to offer a stable alternative to the volatile digital asset market.

BNB is the second. Formerly called Binance Coin, it was launched in 2017 through an initial coin offering (ICO) as an asset for users when Binance was still in its infancy. It began as an ERC-20 standard token built on the Ethereum blockchain.

Currently, it is a native token of the Binance ecosystem, where it plays an essential role by powering operations. It is used to pay listing, exchange, trading fees, and other expenses users incur on the platform.

Binance Perks

  • Low Fees

This is why Binance is the most popular crypto exchange platform in the world. Binance trades are as good as free. The platform charges a maker/taker fee. Fees will vary depending on trading volume and Binance Coin (BNB) balance.

Despite this, fees are still charged by the platform for certain services, including withdrawals and payment types.

  • Large Crypto Selection

A crypto exchange platform will only be as good as the selection of cryptocurrencies available in its market. Binance is the largest crypto exchange platform. This means that it has a lot of digital currencies.

Decentralized finance tokens (DeFi) are also available.

Some of the currencies available include:

  • Binance Coins (BNB)
  • VeChain, (VET)
  • VeThor (VTHO)
  • Harmon (ONE)
  • Matic Network (MATIC)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Cosmos (ATOM)
  • Cardano (ADA)

And many more.

  • Multiple ways to Earn

For those wanting to get more mileage out of their investments, Binance allows you to earn more from your crypto assets. Customers can try to earn income via adding liquidity to pairs of tokens. There are also staking options on the platform.

That said, most of these opportunities carry great risk, so it is up to users to discern and weigh these risks. Trading and dealing in crypto is risky enough.

  • Advanced trading tools

Lastly, Binance would not be called a crypto exchange platform if it were without trading tools.

Binance has advanced trading tools that allow users to customize trading options easily. It makes it easier to set limit orders to buy and sell crypto at a specific price.

Then there are charting tools that can be very useful for veteran traders making decisions. There are even features that allow users to sell leveraged tokens and make trade easier.

Binance Trading Experience

The overall trading experience with Binance is pretty good. It provides various trading tools that allow for smoother and faster transactions. Some even have real-time charting tools with moving averages which makes everything convenient and accessible.

When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. You can do it through the Binance App, the Binance website, or even the Binance desktop app.

The platform will keep track of traders’ portfolios for them, so they won’t need to use any additional tools or platforms. Even those who want to keep track of their trades will only need to access their trade history, which is also available on the exchange platform.

Even how they view their trading can be customized. This makes it easier to understand data. Users can even choose how they want these data presented. This makes it easier for users to identify the most important.

Binance Trading Fees

Binance trading fees will depend on the customers’ trading history and trading volume in the past 30 days. Another thing that will matter is the amount of BNB the user has.

The fees you pay will depend on whether you are a taker or a maker. Takers, who remove liquidity orders from a market, tend to get higher fees than makers (those who add liquidity to it).

As Binance has its own native currency, the platform encourages using its payment for transactions. Whenever you use BNB for your trades, you get a 25% discount on the trading fee. Binance also offers 0% trading on selected Bitcoin and Binance USD (BUSD) pairs.

The chart below can be used as a quick reference for Binance’s fees.

VIP 30-Day Trade Volume (BUSD) Maker/Taker
0 Below 1,000,000 0.10%/0.10%
1 1,000,000 to 4,999,999 and at least 25 BNB 0.09%/0.10%
2 5,000,000 to 19,999,999 and at least 100 BNB 0.08% / 0.10%
3 Between 20,000,000 and 119,999.999, with at least 250 BNB 0.07% / 0.10%
4 120,000,000 to 199.999.999 with at least 500 BNB 0.07% / 0.09%
5 Between 200,000,000 and 499,999.999,999 with at least 1,000 BNB 0.06% / 0.08%
6 500,000,000 to 99,999,999999 and at most 1,750 BNB 0.05% / 0.07%
7 Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB 0.04% / 0.06%
8 Between 2,500,000,000 and 4,999,999.999999999 with at least 4,500 BNB 0.03% / 0.05%
9 More than 5,000,000,000 and at least 5,500 BNB 0.02% / 0.04%

Binance Issues

Binance is a crypto-currency company that has many problems and controversy, despite being the most prominent.

The year 2019 was a bad year for the exchange platform.

Binance was the victim of a large-scale security breach on May 7, 2019. It was discovered that hackers stole 7,000 Bitcoins worth $40 million. That said, the site reimbursed customers through its “Secure Asset Fund for Users(SAFU).

However, it wasn’t as rough as the year 2021 was. It’s not true to say that Binance had a difficult year in 2021.

The United States Department of Justice and Internal Revenue Service, on allegations of money laundering and tax offenses, investigated the company.

It was also forced to cancel its planned launch in Britain of a digital asset marketplace. This was due to their application not meeting the anti-money laundering requirements set by their government.

It was again in trouble the next year when it was revealed that Binance had shared client data with Russia. These said data included names and addresses of users in a bid to fight crime.

Then in October of the same year, it suffered another hack on its network. The company had to temporarily suspend transactions and fund transfers after detecting an exploit between two blockchains. As soon as the issue was discovered, it was resolved.

However, about $100m in funds remained unrecovered from a total of $570m that was stolen.

Binance Pros and Cons

Pros

  • Low fees
  • Easy Access to Passive Income Opportunities
  • Large Selection of Cryptocurrencies
  • Trading tools that are sophisticated
  • There are many ways to deposit money
  • Flexible Order Types and Trading Options

Cons

  • Non-beginner friendly. For beginners, many features can be difficult to access and use.
  • Regulation Issues with many countries, including major ones like the United States, Japan, the United Kingdom, Thailand, and many more.
  • Not available in the United States because of regulatory issues. The US-specific service Binance U.S., which is a limited version of the service, is not available in all states.
  • There is no built-in digital wallet

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Coinbase Versus Binance

There are two cryptocurrency platforms that can be used, and they have different approaches. Coinbase and Binance are the best examples.

One is a United States-based exchange that is designed for beginners with a simple interface and limited transaction types, while the other has a steep learning curve and is more suited to veteran users.

The difference between Coinbase & Binance lies in who their primary audience is and how they cater.

Coinbase Overview

Coinbase, also known as Coinbase Global, Inc, a publicly traded American company that acts as a cryptocurrency exchange platform. The platform is a distributed business, so all employees work remotely.

As such, the company does not have a physical headquarters because they don’t need one. The company used to have its headquarters in San Francisco. However, this palace was demolished and the company moved to remote-first.

Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. He started coinbase by enrolling in the Y Combinator startup incubator program, where he received a $150,000 cash infusion.

Later on, co-founder Fred Ehrsam joined him after noticing Armstrong’s post on Reddit. This was back in the days when bitcoin was only $6 and was only known to “a few nerds online” (Ehrsam’s words not mine).

They believed bitcoin was an insane idea that would revolutionize finance and money. They both shared a confident view that bitcoin will be very big. They wanted to make crypto more mainstream and easy to use. This was the impetus behind Coinbase.

While Coinbase now sits among the pantheon as the biggest crypto exchange in the United States and one of the biggest worldwide, its beginnings were not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Binance And Yg

Cryptos Under Coinbase

Coinbase does not have its original coin or cryptocurrency. The platform supports over 100 cryptocurrencies. They also regularly add more cryptocurrencies as the need arises.

Here’s a look at the various cryptocurrencies that coinbase offers:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Solana (SOL)
  • Polkadot (DOT)
  • USD Coin (USDC)
  • Dogecoin (DOGE)
  • Uniswap (UNI)
  • Litecoin (LTC)
  • Shiba Inu (SHIB)
  • Algorand (ALGO)
  • Stellar Lumens (XLM)
  • Polygon (MATIC)
  • DAI (DAI)
  • SushiSwap: SushiSwap (SUSHI)

Coinbase Perks

  • Extensive Selection of Cryptocurrency

There is a reason why coinbase is the biggest cryptocurrency exchange in the United States. This is because of the vast and varied cryptocurrencies available in the market.

A Bitcoin (BTC-focused exchange. Coinbase now offers over 150 different cryptocurrency types. You can even trade Bitcoin (BTC), and other major currencies, for smaller or newer digital tokens.

In fact, few cryptocurrency exchanges could compete with Coinbase in terms of selection in the U.S. Market.

  • Simple and advanced trading

Coinbase offers two trading tools to make it easier for users to access their accounts. Users can choose between a simple trade option or an advanced trading option.

Simple trading options are easy to use for beginners. This option has one drawback: it charges higher fees. This is contrary to the crypto investing philosophy of keeping fees low.

Meanwhile, advanced trading offers more features, such as charts, a live order book, and even the ability to limit orders. While this option has lower fees, the trade-off is that it is less intuitive, more complex, and intimidating to new users.

To avoid high fees, it is highly recommended to trade in advanced trading.

  • Earn Free Crypto

Coinbase offers a cool feature to help customers earn more cryptocurrency. Coinbase Earn is Coinbase’s feature that lets users earn free crypto in exchange for learning more.

It is encouraged that users read more about cryptocurrency through educational modules. Once they have completed one module, coinsbase will allow them to earn more.

While the feature does not give much, it still doesn’t hurt. Besides, even a few crypto bits are always a blessing, especially in this economy. Besides, whoever declines free money is always a fool. Even if the amount is not.

  • Educational Content

As lightly touched above, coinbase has a library that is a well of educational resource. These resources range form the basics of crypto, tips, and tutorials to more complex stuff and even market updates. Coinbase is the best platform to start investing in crypto.

  • Mobile App

Coinbase up its accessibility factor by allowing users to access their accounts with a mobile app. Their mobile app, which is similar to the web platform, allows users to manage, buy, and sell cryptocurrency.

This Coinbase App is not just something that is not some garbage or bloatware. It’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.

  • Crypto Rewards

You can earn interest on many cryptocurrencies through your Coinbase Account. This is because Coinbase pays interest on specific stables, like USD Coin (USDC), automatically.

This allows you to stake certain cryptocurrencies like Solana (SOL) and Ethereum (ETH).

Staking is how many cryptocurrencies verify their transactions and allows participants to earn rewards on their holdings. You commit your crypto assets to support a blockchain network and confirm transactions when staking in cryptocurrencies. Binance And Yg

You will receive certain rewards for staking cryptos. Of course, not all cryptos are eligible for this. It varies depending on your region as well as the cryptocurrency.

  • Coinbase Debit card

Aside from trading, Coinbase allows users to access and spend their hard-earned wealth using the Coinbase card.

If you have a Coinbase account, you can apply for a Coinbase card, a prepaid Visa debit card linked to your Coinbase account balance. It allows you to spend cryptocurrency to purchase certain services, especially those that accept Bitcoin or other crypto payments.

What’s more, using the Coinbase card gives you a chance to win crypto rewards. You can even choose which crypto from a rotating list you earn for this rewards

Coinbase Trading Experience

If Binance provides low fees and more advanced training tools, Coinbase is geared towards a more different type of user. Coinbase’s target market is those just beginning their crypto journey.

The platform offers tools that allow investors new to crypto trading a fast, easy, and secure way to trade. This is in line with their original goal to “make Bitcoin easier to use.”

They are determined to realize this vision and allow users to earn cryptocurrency by watching tutorial videos that are geared towards beginners.

This doesn’t mean veteran traders only have beginner tools to play with. For that, Coinbase offers Coinbase Pro. This platform is designed for experienced traders. Binance And Yg

Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. You can choose from several order types such as stop, limit or margin orders.

Users can also access real-time charting tools, trade history, order book, and price charts. This will allow them to make better decisions about how they move their positions or trades.

While it says pro on the tin-can, it doesn’t mean that users will have to pay another fee to access Coinbase Pro. No, there is no need for that. Anyone can access the pro version of Coinbase by creating an account.

Coinbase Trading Fees

The thing with Coinbase is that they do not give away their pricing and fees. Their entire fee schedule was removed from the online help section. That said, this doesn’t mean you will pay your fees blindly. Costs are still shown when entering a trade, so you still know how much you will pay.

This is where coinbase falls short of the rest. Its fee structure can be too complex and a little hard for the mind to wrap around. It is said that the fee structure depends on three confusing factors:

  • Coinbase charges a spread for cryptocurrency purchases and sales. The spread is significant because rates can fluctuate depending on market conditions.
  • Coinbase claims that fees are based on a variety of factors, including the chosen payment method, market conditions (volatility or liquidity) and the order size.
  • Coinbase charges fees for transactions executed on external blockchain networks that support cryptocurrencies. Binance And Yg

Coinbase Pro’s pricing structure is simpler. It is based on the customer’s monthly trading volume and liquidity of the asset at the time of purchase. Also, Coinbase pro users are required to make deposits and withdrawals through a bank account.

The chart below gives an idea of the fees you can expect on the main coinbase platform:

Trade Size Coinbase Fee
$10 or less $0.99
$10 to $25 $1.49
$25 to $50 $1.99
$50 to $200 $2.99

Trades above $200 have a percentage-based fee rather than a flat fee.

For Coinbase Pro, a general idea of the fees is shown in the chart below.

Pricing Tier Taker Fee Maker Fee
Up to $10K 0.60% 0.40%
$10K – $50K 0.40% 0.25%
$50K – $100K 0.25% 0.15%
$100K – $1M 0.20% 0.10%
$1M – $15M 0.18% 0.08%
$15M – $75M 0.16% 0.06%
$75M – $250M 0.12% 0.03%
$250M – $400M 0.08% 0.00%
$400M+ 0.05% 0.00%

Coinbase Issues

There is a good chance that cryptocurrency will be a legal issue because it is still a new area of technology.

Coinbase acknowledged that customers were being charged more for cryptocurrencies they purchased with debit and credit cards than they originally intended. This was due to problems that started when banks and card issuers charged the merchant category code (MCC) of crypto purchases earlier that month.

This was due to the fact that cryptocurrency payments were classified as “cash advances”, and banks and credit card issuers may begin charging cash advance fees for these purchases.

In a Financial Times article, Visa, the credit card company, blamed Coinbase at first. However, it later rescinded those statements and clarified on the Coinbase blog that the “issue was not caused by Coinbase”

In 2018, customer complaints against Coinbase jumped more than 100%. Most of these problems were categorized as “money was not available when promised.” The company solved this issue by increasing its customer service staff to reduce wait times.

Coinbase was also involved in the first-ever case of insider trading regarding cryptocurrency. A former product manager of the company as he shared information about certain tokens listed by the company. The company provided prosecutors with the right information for an internal investigation.

Pros and cons of Coinbase

Pros

  • Easy to use and very friendly for those just starting in cryptocurrency
  • Supports a large number of cryptocurrencies
  • Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
  • Offers simple and advanced trading depending on user preference
  • Offers coinbase debit card, which allows for easy withdrawing of funds Binance And Yg

Cons

  • Complex and complicated fees structure, which is not transparent
  • High fees on some transactions
  • Limited staking and interest opportunities.
  • There are a bunch of altcoins missing from their selection
  • Problems with customer service

binance-coins-arranged-in-3-columns

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Binance or Kraken?

Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. It might seem that there is a big gap between these two platforms if we compare their ranks (Binance at the top and Kraken at the bottom), but there are more to it.

For example, US-based Binance users are severely hampered by the fact that they can only access Binance’s U.S. platform (Binance.US.) Kraken, however, is readily available in the country.

There are a lot of similarities between these two platforms, with both offering advanced trading options, low fees, and even mobile apps. Both platforms are targeted at experienced or veteran cryptocurrency traders.

Customers will ultimately decide which platform they prefer by choosing the most important features. Will it be Binance and their offers of slightly lower fees, a huge variety of coins, and additional way of managing your funds. Or will it be Kraken and its high regard for security standards, which won them a bank charter approval in Wyoming in 2021. Binance And Yg

Kraken Overview

Kraken is a fully functional crypto exchange characterized by its low fees and a good selection of tokens, coins, and cryptocurrencies. This platform is unique in that it offers advanced trading tools such as margin.

Kraken’s primary goal is to be the most secure and reliable crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”

In connection on the November 2022 FTX Controversy, Kraken founder and former CEO Jesse Powell tweeted: “…Happy to live simply, take a fee for matching trades. A balance sheet is mostly Bitcoin, some ETH.

Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. It was launched in September 2013 and offered bitcoin, Litecoin and euro trades. Additional currencies and margin trading were to follow.

Powell started working on Kraken to replace Mt.Gox (another bitcoin exchange, based in Shibuya Tokyo, Japan). He was a consultant for that exchange before its collapse in 2014 due to failing security audits.

Kraken had also joined other US Bitcoin players to form the “Committee for the Establishment of the Digital Asset Transfer Authority” as the industry’s self-regulatory group. Binance And Yg

Kraken was very successful in 2014. The company received a Series A investment of $ 5,000,000 from Hummingbird Ventures in March 2014.

It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, CEO Powell’s former employer. Kraken was relied upon because of its proven operating history of not being breached by hackers.

After Wyoming granted such a charter, Kraken was the first cryptocurrency exchange to have a special purpose deposit institution (SPDI), charter in September 2020.

September 21, 2022, saw CEO Powell stepping down as CEO of the platform citing “spending more of his time on the product of the company, user experience, and broader industry advocacy.

He was replaced as CEO by Dave Ripley.

Cryptos under Kraken

Kraken supports at most 110 cryptocurrencies. The most well-known and popular currencies are:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Litecoin (LTC)
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Ripple (XRP)
  • Stellar Lumens (XLM)
  • Solana (SOL)
  • Sushi (SUSHI)
  • Uniswap

Kraken supports several stablecoins, including Tether, USD Coin and Dai. Kraken also has a limited currency exchange that is available in select territories. You can convert US dollars into Canadian dollars, Japanese Yuen and Swiss Francs. Binance And Yg

Kraken Perks

  • Beefy Security

Kraken has been an integral part of the cryptocurrency market since its inception in 2011 and its launch in 2013. Since its inception, Kraken’s focus was on security. It has never stopped focusing on it over the years. In fact, it is the only cryptocurrency exchange that has not had any major hacking accounts.

This exchange, which is based in the United States, is the industry’s leader in terms security. Some in the industry associate Kraken with financial stability and physical security. This is a claim Kraken is too proud to make.

  • A healthy range of available cryptocurrencies

Kraken has over 160 coins and seven fiat currencies available to trade on its platform. It’s not the largest amount but it’s still quite healthy and comparable to the top crypto exchanges. Binance And Yg

Kraken’s liquidity is high, which allows Kraken to make it easier for users to buy and sell at fair prices.

Kraken works using currency pairs, a one-to-one equivalency between two currencies. It is the price of the exchange rate between two currencies that are traded on FX markets.

Kraken would use dollars to buy Bitcoin, and vice versa. If you are using dollars to buy Bitcoin and then Bitcoin to buy Ethereum, you will always be swapping one currency for another.

In the case of Kraken, not all of its currencies are exchangeable for the others.

  • Advanced trading features

Kraken is one of the few exchanges offering margin, stop orders, and crypto short sales. Kraken also offers a dark pool, where high volume investors can trade anonymously.

Kraken lets you leverage currency pairs up to 5x. Some eligible pro clients can access up to $500,000 in the margin. This does not remove the risk that margin trading inherently brings.

  • Fees are reasonable.

Although it’s not the most expensive on the market, Kraken’s fees remain competitive and comparable to other exchanges. It is even cheaper than other exchanges.

There are no set trading fees, which will differ from exchange to exchange. Your monthly trade history will determine how much you pay. While we will talk about fees in depth in another segment, it is important to know that fees are higher when using the instant buy feature rather than the pro platform.

  • Strong Staking Options

Staking options within Kraken are pretty good. Users have the opportunity to stake over 15 different cryptos. They can earn between 0.25% and upwards of 20%.

Staking refers to the act of holding your coins in order to make a contribution to the security of a specific blockchain. It can be a great way to passively earn an income.

Kraken Trading Experience

Kraken users can choose between Kraken and Kraken Pro. Kraken Pro is the cheaper of these two exchanges. Both platforms are available to anyone with a Kraken account.

Kraken is a trading platform that’s geared towards intermediate-to-experienced users. However, beginners can still use the platform if they want. To learn the ropes, it is recommended that they begin with the Kraken central platform. Binance And Yg

Kraken allows verified accounts to quickly buy cryptocurrency from linked bank accounts. It is easy to sell or convert your crypto to your account. The website has a simple form that allows you to place orders. It usually takes a few seconds.

It is easy to purchase cryptocurrencies with your bank account balance. Your account doesn’t need to be funded first.

In terms of security, you can keep your Kraken account safe by enabling two-factor authentication (2FA). As such, you will need your device to log in to your account.

Kraken Pro, on the other hand is Kraken’s most advanced trading platform. It appears more complicated than the regular Kraken exchange. This makes Kraken Pro very intimidating, especially to trading newbies. However, it is worth learning. Binance And Yg

Some features added to it are more detailed asset information, active charts, and even a view to open orders.

Kraken allows you to pay lower fees, as we have already stated. So if you think you are ready, it would be better to make the same trade with Kraken Pro instead of Kraken. You will pay less but earn more in the end.

Kraken Fees

As stated above, Kraken’s fees are in the competitive middle. It is not the lowest on the market and it is not the highest. Other factors may affect the price of the fees you are about to pay.

Prices and fees may vary depending on the platform. Kraken Pro will always be cheaper than regular Kraken.

Fees for instant purchases are 1.5% for most cryptos and 0.9% for stablecoins that use the U.S. Dollar or another stablecoin.

There are also additional fees that depend on how you fund your purchases. For funding with a bank account, these fees range from 0.5% to 1.5%. Meanwhile, 3.75% + 25 Euro cents with a debit card, credit card, or digital wallet. Binance And Yg

Meanwhile, Kraken Pro’s pricing is pretty different. Generally, fees are lower than the main Kraken platform. Your fees will also be based on your total trading volume over the last 30 days. Another fee to remember is that most transactions are subject to a 0.26% taker fee or 0.16% maker fee.

Below is a chart showing their maker-taker fees for a volume of 30 days in US dollars.

30- Day Volume (USD) Maker Taker
$0 – $50,000 0.16% 0.26%
$50,001 – $100,000 0.14% 0.24%
$100,001 – $250,000 0.12% 0.22%
$250,001 – $500,000 0.10% 0.20%
$500,001 – $1,000,000 0.08% 0.18%
$1,000,001 – $2,500,000 0.06% 0.16%
$2,500,001 – $5,000,000 0.04% 0.14%
$5,000,001 – $10,000,000 0.02% 0.12%
$10,000,000+ 0.00% 0.10%

Kraken Issues

There really are not many issues concerning Kraken aside from disagreement with a work culture which is something the company has already worked on and moved on

On the security side, Kraken has lived up to customer expectations and has proven itself with being the only major cryptocurrency exchange that has not been a victim of a major hack.

Kraken does have its share of problems with government regulations.

Kraken refused to cooperate with an investigation by New York Attorney General’s Office in April 2018 on questions about crypto exchanges’ measures to protect customers from market manipulation and money laundering.

Kraken believes that this would be a bad business decision.

Approximately a year after, the Office of Foreign Assets Control investigated the exchange for potential violation of sanction regimes by allowing trade for customers based in Iran. In late September 2021, Kraken was ordered to pay a fine to the Commodity Futures Trading Commission for $1.25 million allowing unregistered margin trading.

Kraken Pros and Cons

Pros

  • Advanced features such as margin trading and stakestaking are available.
  • Good and dependable customer service option
  • Relatively low Bitcoin (BTC) withdrawal fees
  • Provides a wide range of educational material.
  • The most secure exchange on the market
  • Simple user interface

Cons

  • The Base Kraken platform is more expensive than Kraken Pro. Both modes can be accessed as long you have a Kraken account.
  • Kraken accepts only a handful of fiat currencies
  • A few users complain about their accounts being hacked. Binance And Yg
  • It is not available in all U.S. States

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Binance versus Crypto.com

Binance and Crypto.com are some of the more popular exchanges in the cryptocurrency industry. Both provide a variety of features such as low fees and staking as well advanced trading. It does not necessarily mean that they are identical.

While one exchange is better than another, that doesn’t mean you should always choose the highest-ranking exchange just for numbers. There are many factors that influence which exchange is ranked higher than another.

It is better to look at both options before you choose the crypto exchange that appeals to your needs. Will you choose the more investor-friendly Binance with its wider selection of cryptocurrencies to invest in, or will you take Crypto.com’s side, which offers a more user-friendly experience and lower fees. Binance And Yg

Crypto.com Overview

Crypto.com was established in Hong Kong in 2018 The founders of Crypto.com, Gary Or, Kris Marszalek and Rafael Melo originally called it Monaco. When Crypto.com purchased the domain of Matt Blaze, a cryptography researcher, it became Crypto.com.

The sales might be on the bigger one, with Domain sellers valuing the domain at US$5 – 10 million.

Crypto.com is a platform that does the same thing as most cryptocurrency exchanges. It lets users trade, invest, stake in a currency, and many other things.

You can also choose from over 250 currencies. There are reasonable fees and discounts for some customers, such as those who have large stakes in Crypto.com’s own coin, the Cronos (CRO).

Crypto.com’s main selling point and focus is in their exchange. They offer many crypto services, including their own crypto wallet and an NFT shop. The company has even partnered with Shopify those in the e-commerce platform accept cryptocurrency as a valid payment.

Overall, we can consider Crypto.com as an all in one cryptocurrency platform that is perfect for investors and traders who want to do more than buy and hold. Crypto.com allows cryptocurrency to be used as currency.

Cryptos under Crypto.com

In terms of selection, Crypto.com has a huge one available. It support more than 250 currencies for spot trading with a subset of staking. The platform supports the following currencies:

  • Bitcoin (BTC)
  • Cardano (ADA)
  • Dogecoin (DOGE)
  • Ethereum (ETH)
  • Polkadot (DOT)
  • Litecoin (LTC)
  • USD Coin (USDC)
  • Chainlink (LINK)
  • Polygon (MATIC)
  • Cardano (ADA)
  • Uniswap

Cronos (CRO) is Crypto.com’s coin. Having a significant stake in this coin rewards you with lower trading fees, higher stalking interest rates, and higher credit card rewards. Binance And Yg

Crypto.com Perks

  • One-Stop Shop

Crypto.com is more than a trading platform. You can trade cryptocurrencies and buy and sell them on the exchange.

Most importantly, Crypto.com allows you to spend your hard-earned crypto through a prepaid Visa card. Crypto.com places a lot of weight on cryptocurrency’s currency component.

  • Low Fees

Crypto.com’s low fees are comparable to many other sites.

There are many transactions on Crypto.com that don’t require fees. One example is depositing your money into your account via an electronic bank or wire transfer.

Crypto.com also allows you to purchase and sell cryptocurrency at its true cost, giving the real meaning of “what you see is what you get.”

The platform charges a fee for purchases of crypto with a debit or credit card. Payments made with a debit card or credit card might also be subject to a cash advance fee for crypto purchases.

  • Convert Your Money Easily

While this is not a feature unique to Crypto.com, it bears being listed here. The Crypto.com app allows users to convert their fiat currencies into crypto. Crypto.com only supports 20 fiat currencies.

These fiat currencies include USD, GBP, and EUR, among others. But, just because a fiat currency is listed on Crypto.com, does not necessarily mean it will be available for you to trade. You will be limited in your ability to trade certain fiat currencies due to the country you live in.

  • Cashback cards

One of the greatest perks that you can receive as a Crypto.com member is the availability Visa Cards linked to your Crypto.com account with its crypto currency.

Crypto.com currently offers five types of prepaid Visa cards to its customers. Granted, these cards will need to be topped up before one can fully utilize their uses.

Your CRO stake in the platform will determine which Card you can get.

Their Ruby Steel card is the lowest available tier, and it also offers a 1% cash back on your contribution. To be eligible, you must have at least $400 in stake.

Meanwhile, those who own deeper pockets can avail of their top-of-the-line, Obsidian tier. This earns you 5% cash or crypto back, along with loads of extra bonuses. To qualify, you will need to have at least $400,000 in stakes. Binance And Yg

Midnight Blue, Jade Green/ Royal Indigo and Frosted Rose Gold/ Icy White are some of the other cards that are available. All these cards have no annual fee and give you a set number of free ATM withdrawals and foreign transactions each month.

  • Earn Interest

Crypto.com is more than a place to purchase tokens and coins. It’s a one-stop shop that offers everything crypto. Crypto.com accounts can earn high interest rates. Crypto.com offers some of the highest-yielding savings accounts on the market.

To benefit from this perk you will need to have a lot of cash in your CRO. However, the maximum amount of interest you can earn is less than 10%.

The interest rate you can acquire will depend on factors like the duration of time you leave your money, the currency you save, and the amount of CRO you have staked.

The app allows you to increase your interest rate in many ways. One way is to stake more than 4,000 CROs. It is even possible to get more if you stake up to 40,000 CRO, but that may be asking for too much.

You can also increase the interest rate if you deposit for a one-month term to three-month terms. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.

Finally, stablecoin investments can also increase your interest rate. Stablecoins usually peg their values to an external reference. Some can be pegged to the U.S. dollar. These stablecoins allow you to earn more interest.

That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. They are less likely to lose value.

It is risky to keep your crypto savings. Cryptocurrencies can be volatile and your savings could be cut if they fail.

  • Gift cards and phone top ups

Gift Cards and Phone Top-ups are other ways that Crypto.com allows you to spend your crypto. You even earn cash-back benefits by buying gift cards from several popular brands.

Crypto.com offers gift cards from popular brands covering different industries like hotels, general retail, games, airlines, education, and even entertainment from at least 41 countries. Like Spain, Norway, Singapore, and the United Arab Emirates.

Macy’s and Barnes & Noble are some of the brands.

How much CRO you stake and what kind of company you are will determine how much cashback you receive.

Crypto.com Trading Experience

Your trades with Crypto.com will largely revolve around the mobile app. This serves as the platform’s central hub. So those who are already used to trading stocks on a phone or tablet will have a breeze of time and will find the experience pretty similar to that. Binance And Yg

This app shows the user their portfolio and lists of their most popular assets. It includes everything needed that Crypto.com says it offers. With it, you can trade currencies, earn through staking in crypto, make payments with cryptocurrency, and even sign up for a Crypto.com credit card.

Without chart tools, where would you find a trading app? The Crypto.com app shares a simple set of data which aims to not overwhelm or intimidate users. The charts just contain enough information needed for users to learn how the blockchain and the currency work, something they might need before buying.

Crypto.com offers a wide range of fiat currencies. The most popular are the Australian (AUD), Canadian (CAD), and the euro (EUR) dollars, as well as the British pound sterling and the U.S. Dollar (USD), which are all very popular. This allows users from multiple countries to buy and enter crypto using their local currency.

Crypto.com Fees

Crypto.com’s trading fees are very competitive. In fact, they are among those who offer the lowest trading fees in the market. Those who trade in higher volumes can qualify for fees as low as 0.04% for makers and 0.1% for takers, even without CRO staking.

Users who have at least 5,000 CRO in their bank account can get discounted trading fees. Rates go lower with larger stakes.

That said, newer Crypto.com users without any CRO staking will pay a 0.4% fee on trades with a total monthly trading volume of less than $25,000.

Below is a table showing fees for spot and margin trades for customers with no CRO stake amount.

30-Day Spot Trading Volume (USD) Maker Taker
Less than 250,000 0.0750% 0.750%
Greater than or equal to 250,000 0.0700% 0.0720%
More than 1,000,000 or equal 0.0650% 0.0690%
More than 5,000,000 or equal to 5,000,000 0.0600% 0.0650%
Greater than or equal to 10,000,000 0% 0.0500%

The table below shows the maker and taker rates of those with less than 100 CRO (3% discount).

30 Day Spot Trading Volume (USD) Maker Taker
Less than 250,000 0.0728% 0.728%
Greater than or equal 250,000 0.0679% 0.0698%
Greater than or equal to 1,000,000 0.0631% 0.0669%
Greater than or equal to 5,000,000 0.0582% 0.0631%
Greater than or equal to 10,000,000 0% 0.0485%

As said, the higher your CRO stakes are the bigger your discounts. Stakes over 50,000 CRO are exempt from maker fees. People with even higher stakes may be eligible for rebates.

Crypto.com Issues

Crypto.com, like most cryptocurrency exchanges has its problems.

Crypto.com was the victim in a serious hacker attack on January 20, 2022. It was reported that the company lost US$15 million worth of Ether. After users reported suspicious activity to their accounts, the company lost US$15 million worth of Ether. The company immediately halted withdrawals, which were then restored. The company reported that no customer funds were lost alongside the restoration of withdrawals.

Crypto.com’s problems were mostly caused by the decline in cryptocurrency. Crypto.com was forced to lay off hundreds of employees that had been working since May. The company was forced to lay off between 30% and 40% of its employees in October 2022.

In November of 2022, their exchange token Cronos (CRO) has lost approximately $1 billion in value. This was due in part to the collapse of FTX. That said, Crypto.com CEO Marszalek assured that the exchange was functioning normally.

Crypto.com Cons and Pros

Pros

  • Very low fees
  • There are many ways to pay with crypto
  • Convert money quickly
  • Great cash back rewards with Visa card Perk
  • Earn interest on crypto
  • Pretty big selection of cryptocurrency coins and tokens Binance And Yg
  • Has strong security

Cons

  • User interface and the exchange itself is pretty difficult to navigate
  • Coins are not universally available, and availability will be dependent on country and location
  • Customer service is pretty poor and lacking in some areas
  • There is a shortage of educational resources.

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Binance versus Kucoin

Comparing KuCoin to Binance side-by-side, it is clear who the winner is. Binance is the clear winner, and it is by quite a bit. KuCoin was one of the first platforms to trade cryptocurrencies. However, FTX and Kraken have taken over.

As of today, while KuCoin still has its users and most traders generally avoid the platform like the plague. The exchange has been troubled by many negative reviews, each with different reasons ranging from semantics to highly alarming.

KuCoin Overview

KuCoin is a crypto exchange platform launched in 2017 by tech geeks Micahel Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhum, and Linda Lin. The company was established in 2013.

KuCoin started because of MichaelGan’s eagerness to learn about blockchain and its application possibilities. Eric was his boss and he told him about Bitcoin. He then got involved in the action.

The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. This was in direct proportion to the impact blockchain had on the world, particularly with the way that crypto and Bitcoin changed the global financial system.

By the end of 2013, Michael and Eric wrote down the first code of what would become KuCoin in a cafe. This was how the platform, which would later be known as the “People’s Exchange,” got its start.

 

Cryptos under KuCoin

Since it is an older cryptocurrency exchange platform, it is not surprising that there is a pretty sizable selection of cryptocurrencies you can buy and trade in the exchange.

This extensive range of tokens and coins may appeal to veteran traders who are looking for an assortment of assets. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. Binance And Yg

It was also one of the main reasons why the company was founded in the first place, to give fewer mainstream currencies their spotlight and allow people to access them.

These less-known coins can be more risky than the stable and well-known ones. As such, people need to understand what people are getting themselves into.

KuCoin has its token, called KuCoin Token or KCS. Aside from that, some of the more popular coins available in the exchange platform include the following:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether (USDT)
  • Binance Coin (BNB)
  • XRP (XRP)
  • Chainlink (LINK)
  • Filecoin (FIL)
  • Internet Computer (ICP)
  • Wrapped Bitcoin (WBTC)
  • USD Coin (USDC)

Bear in mind that these are just a few selections of what you can find in the exchange platform

KuCoin Perks

  • Wide range of Coins

As we have already stated, KuCoin has a broad selection of coins, tokens, and altcoins that can be traded in their exchange. It is actually the top echelon for coins that are available on the exchange.

It is also easier to find smaller coins than other platforms on these platforms. For traders who want to branch out into less popular crypto, KuCoin will be the perfect platform for them.

After all, it is one of the main missions of KuCoin, to give smaller and newer cryptocurrencies a fighting chance. In fact, they even have a Spotlight section, which promotes new currencies.

This is advantageous for the coin and users who want to get in on a new currency early.

  • Low Fees

KuCoin has very low trading fees. Though it is not the lowest available in the market, it is still fairly low that it can compete with other exchanges.

KuCoin doesn’t charge any monthly fees. Withdrawal fees are in line with other exchanges, and depositing cryptocurrency to the service is free. That said, you will still need to pay a fee to deposit fiat money, such as U.S. dollars. Binance And Yg

These fees depend on the transfer method you choose and what third-party app that you use.

  • Earn through interest on your crypto

Like most cryptocurrency exchanges, KuCoin lets you earn money through your deposited crypto. In the case of KuCoin, the service is called KuCoin Earn.

With KuCoin earn, you are given two ways to earn from your crypto. First, you can take coins through Pool-X, a company backed by KuCoin. The second way is to loan out your crypto and get paid the interest.

Loaning your crypto nets your interest bigger than what you’d normally get with a saving account. However, your earnings will still be affected by the demand for your coin.

According to the exchange, you can earn up to 8% to 12% on average from this way. KuCoin uses this money to finance margin trading. It might seem risky, but the company states that lenders will always be repaid in full.

This repayment could be made from collateral or KuCoin margin insurance funds.

  • Advanced Features

KuCoin provides veteran users with plenty of toys and extra features to play with. They allow for margin trading, which allows users to leverage their position, which means borrowing money to buy more crypto.

KuCoin’s mobile app also supports trading bots. This allows you to trade your cryptocurrency without having to do it yourself. Instead, you can let a computer handle that task for you. This is very convenient because you don’t always have to be online in order to run your business.

That said, using bots can be pretty risky. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.

The convenience bots offer may not be worth the uncertainty about how they handle your assets.

KuCoin Trading Experience

The KuCoin trading experience can start either through an online portal or an Android and iOS mobile app. Both have an abundance of features and tools which you can use when doing trades on the platform.

After logging into your KuCoin account on mobile or desktop, you can access KuCoin’s dashboard or front page. Users can view markets, trade, buy, lend, or trade cryptos from there.

In the case of order types, the platform supports four. These are market order, limit order, stop-limit order, and stop-market order.

Besides orders, users also have access to margin, futures, and P2P trading. If you want, you can even stake your crypto with the benefit of earning some back or a discount on some trading fees. Binance And Yg

The exchange recently added a Trading Bot feature that will simplify the entire trading process.

KuCoin is a great cryptocurrency with many advanced features. Veteran traders might find this a great benefit. However, they might be a nightmare for beginners as desktop, and mobile platforms are not user-friendly.

KuCoin Fees

KuCoin breaks down trading fees by levels. The three main factors that determine the trading fees are: The minimum KCS holding within the past 30 days and the spot trading volume within the last 30 day (BTC) are the key factors in determining the trading fees.

Below is a table that shows which trading level corresponds to which.

Trade Fee Level Min KCS Holding last 30 Days Spot Trading Volume Last 30 Days (BTC) Futures Trading Volume Last 30 Days (BTC)
LV0 0 <50 <200
LV1 1000 >=50 >=200
LV2 10000 >=200 >=400
LV3 20000 >=500 >=1000
LV4 30000 >=1000 >=2000
LV5 40000 >=2000 >=3000
LV6 50000 >=4000 >=6000
LV7 60000 >=8000 >=12000
LV8 70000 >=15000 >=20000
LV9 80000 >=25000 >=40000
LV10 90000 >=40000 >=80000
LV11 100000 >=60000 >=120000
LV12 150000 >=80000 >=160000

These levels will then decide how much you will have to pay in maker or taker fees. Spot trading fees are charged in accordance with the base currency for the trading pairs. KCS users will receive 20% off for paying fees.

Also, KuCoins has a 24h withdrawal limit.

Trade Fee Maker/Taker 24h Withdrawal Limit
LV0 0.1% / 0.1% 200
LV1 0.09% / 0.1% 200
LV2 0.07% / 0.09% 200
LV3 0.05% / 0.08% 200
LV4 0.03% / 0.07% 200
LV5 0% / 0.07% 500
LV6 0% / 0.06% 500
LV7 0% / 0.05% 1000
LV8 -0.005% / 0.045% 1000
LV9 -0.005% / 0.04% 2000
LV10 -0.005% / 0.035% 2000
LV11 -0.005% / 0.03% 3000
LV12 -0.005% / 0.025% 3000

KuCoin Issues

KuCoin doesn’t have the best reputation in this industry, to be honest. You can see the extent of dissatisfaction by just looking at the reviews.

Trustpilot reviews gave it an average rating of 1.7 stars out 600 reviews. Most of these negative reviews are about problems with customer support, the withdrawal process, and even making deposits Binance And Yg

KuCoin was also accused of manipulating the market. Some even claimed that their assets disappeared randomly from their accounts. This can be a very big problem, especially when we talk about assets, money, and finance.

Security is another issue.

While KuCoin is a generally secure crypto exchange, it was subject to a major hack back in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. This was a serious security breach, despite the fact that all assets were covered by an insurance plan.

KuCoin Pros and Con

Pros

  • Low fees
  • Strong user base
  • Large range of coins
  • Earn interest on your crypto
  • Advanced trading features
  • Good customer service

Cons

  • Not licensed in the U.S.
  • Payment methods are limited
  • New traders can find it intimidating and overwhelming
  • Has limited education resources

coins-on-paper

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Binance versus Bittrex

Bittrex is a crypto exchange that has more similarities than differences than Binance. Both offer similar features that users can enjoy. That said, these two platforms do have their major differences.

The key difference between the two platforms is their size. Bittrex is more focused on a scaled-down experience, whereas Binance has the highest trading volume of all the exchanges.

There was once a time when Bittrex was once among the global leaders in the cryptocurrency industry. Still, Binance surpassed them after the former implemented stricter Know Your Customer (KYC) and anti-money laundering policies.

Bittrex Overview

Bittrex, a cryptocurrency exchange, aims to provide a high-quality service with trust and focus.

It was founded in 2014 by three cybersecurity engineers from Amazon: Bill Shihara, co-founder and CEO; Richie Lai, co-founder, and chief information officer; and Rami Kawach, co-founder and chief technology officer. Its headquarters are located in Seattle.

The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. Binance And Yg

Despite their new fiat trading platform, they offer many cryptocurrencies and stablecoins. Also, they are available in 46 U.S. states, excluding Hawaii, New York, and Vermont

Cryptos under Bittrex

Bittrex offers a variety of stablecoins and cryptocurrencies on their exchange. Like most exchanges, this variety makes platforms very enticing to traders.

They include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Cardano (ADA)
  • Chainlink (Link)
  • Dogecoin (DOGE)
  • Polkadot (DOT)
  • Tether (USDT)
  • Polygon (MATIC)

Bittrex Perks

  • Huge selection of cryptocurrency

Bittrex offers a large selection of cryptocurrency in their marketplace, as we have already stated. Customers looking for niche, but more risky trades will find it attractive.

  • Low fees

Bittrex offers low fees starting at 0.3% Depending on trade volume, this fee can be lower. That said, it is not the lowest available in the market. Some exchanges charge lower fees than others.

  • Execution of fast trading

Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This engine even works well despite high demand. Investors would love this as it allows them to capitalize on the many price movements that happen in a volatile market such as cryptocurrency.

  • Cardano staking

Those who hold some Cardano (ADA) cryptocurrency would be overjoyed with this platform. Bittrex lets users stake their Cardano cryptocurrency throughout the exchange. This can earn them up to 5.5% in rewards. Binance And Yg

  • Educational Content

We all know how complicated and elusive finances can be. As such, cryptocurrency can be just as confusing and obscure. So anything that offers a way to educate yourself on the topic is a godsend.

In Bittrex’s case, it offers an impressive library of educational resources in its Discover section. Here, users will find articles and references for various crypto topics. There are references and lessons for topics ranging from crypto taxes to how crypto mining works.

They even have a breakdown of some of the cryptocurrencies available on the platform to give you an idea of what you are betting on and whether one is a good investment.

Although it doesn’t completely eliminate the risk of cryptocurrency, it can help users make better decisions. Binance And Yg

  • Referral Program

Bittrex operates a referral program where when someone you know signs up for an exchange account and uses your referral link, you will earn 10% on all trading commissions they pay.

This may not seem like much. Referring someone who is a serious crypto whale could net you sizable rewards. It is an easy way to passively make crypto income, even though it is not reliable.

Bittrex Trading Experience

Trading on Bittrex is a no-frills, straightforward experience. Logging in is all that’s required to access the trading dashboard. It can be accessed via a desktop or mobile app.

In the desktop interface, users have a simple “instant buy Buy/Sell” option. This option lets users quickly make trades or purchase crypto with a debit card, bank account, or Bittrex account balance.

A real-time view of all the market data available on the platform is also available to users. Besides that, users have the option for more advanced order types. Stop, stop limit, trailing stop, and laddered orders.

Bittrex Fees

Bittrex uses a simple maker/taker fee structure, making their fees more transparent than most exchanges. You still receive fee discounts for trades that have higher volumes. Overall, these fees are pretty low but are not the lowest available in the market.

 

30-Day Volume (USD) Maker Taker
Below $25,000 0.35% 0.35%
$25,000 – $50,000 0.25% 0.30%
$50,000 – $100,000 0.15% 0.25%
100,000 – 1 Million 0.10% 0.20%
$1 million – $5 million 0.06% 0.16%
$5 million – $10 million 0.05% 0.15%
$10 million – $60 million 0.02% 0.10%
$60 million – $100 million 0.00% 0.08%
$100 Million + 0.00% 0.05%

Bittrex Issues

Bittrex has been on the receiving end of negative reviews from its users. Many of these problems are caused by account lockouts, assets that have been frozen, and identity verification issues. Most of these problems are common across many crypto exchanges.

The platform hasn’t experienced any major setbacks or controversies.

Bittrex Pros & Cons

Pros

  • High security
  • Extensive selection of available cryptocurrency
  • Fairly low fees
  • Advanced trading tools
  • Very useful educational content

Cons

  • Customer support is mediocre and often unhelpful
  • For beginners, it can be difficult

Binance versus eToro Binance And Yg

Binance and eToro are two of the most well-known cryptocurrency platforms. They are both pretty famous and lead the market in what they do.

However, there is a difference that divides the two. That is, they are very different platforms. Binance is a cryptocurrency exchange. eToro, however, is not. Rather, it is a cryptocurrency broker.

Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other services. A cryptocurrency broker also sells crypto along with other investment products such as stocks and fractional shares.

eToro Overview

Unlike most of the companies listed in this review, eToro did not start as a platform for cryptocurrency. The Tel Aviv-based company was actually an online forex broker originally under RetailFX. This was in 2007.

RetailFX began offering stocks, indices and commodities. It changed its name to eToro. It later launched the innovative social trading feature, which allowed users to copy trades from successful traders on the platform.

eToro only got involved in the crypto market when it added support for BTC in 2014. CFDs could now be bought and sold to non-U.S. users. On the world’s leading digital currency. Four years later, it also added support for Ripple (XRP) and Ethereum (ETH). Binance And Yg

In 2018, eToro also made a big push in the crypto market. The platform was expanded with more currencies and coins. The company even launched its digital asset platform, eToroX, and even its crypto wallet.

Cryptos under eToro

eToro’s digital asset platform has a limited selection of cryptocurrency options. They were not originally set up as an exchange, but rather as a brokerage. Nevertheless, the service does include some of the most popular currencies:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH).
  • Cardano (ADA)
  • Dash (DASH)
  • Dogecoin (DOGE).
  • Ethereum (ETH)
  • Litecoin (LTC).
  • Polkadot (DOT)
  • Polygon (MATIC)
  • Solana (SOL)
  • Stellar Lumens (XLM)

eToro Perks

  • CopyTrader

The CopyTrader is eToro’s signature feature. This feature existed long before the platform began to explore the crypto industry. Binance And Yg

This basically allows eToro users to copy trades done by their favorite traders with just one click. Users only need to set the amount of money they want to allocate for the trade.

From there, the platform will set those funds and try to mirror the positions of their favorite eToro trader proportionally.

What is surprising about this tool is that it is entirely free. There is a need to pay an additional fee for this feature, which can be used as much as the user wants.

  • Invest more than crypto.

Since the platform started in foreign exchange, it was to be expected that new users could still get in on that action.

eToro is one of the few places on the internet that allows you to own cryptocurrency and stocks in one account. Regarding stock investing, the platform offers zero-commission stock trading with the ability to buy fractional shares.

eToro provides a virtual brokerage account which allows you to simulate stock investing without putting any real money at risk.

  • Fee Debit card deposits

Unlike other cryptocurrency exchanges that charge fees, eToro doesn’t charge users to make a debit card payment. As such, investors can deposit fiat money via bank transfer or debit card, all for free.

Users should be aware that there is a conversion charge for transactions not in U.S. dollars.

eToro Trading Experience

eToro is available as a simple web-based platform and a well-designed mobile app.

It is easy to get started on the platform by depositing fiat currency using a bank account or debit card. Once they have done that, they can trade instantly.

An intuitive trading tab gives a view of current prices and buys, sells, and even converts crypto.

CopyTrading is the top perk that makes trading simple and straightforward. It even allows users to do trades proportional to high-performing traders in the platform.

The platform provides basic market and limit orders. However, it lacks some of the more advanced conditional orders and more advanced charting capabilities.

The platform is limited in its ability to offer cryptocurrency fairs due to a lack of options.

It is also eToroX, the flagship digital asset platform with all the bells and whistles users would expect from an institutional-grade exchange.

Some of the new features included in eToroX include U.S. dollar deposits, margin trading, trading APIs, and fast execution.

eToro Fees

When it comes to fees, eToro is a breath of fresh air. Unlike other cryptocurrency exchanges that don’t list their fees, eToro lists its fees when trading crypto.

eToro users are charged a flat fee of 1% per trade in crypto. This 1% market fee is added to the market price the platform calls a bid-ask spread. This fee is charged when users close or open positions.

However, many users don’t like the fact that eToro charges a fee for each round trip. This is different from other exchanges, which only charge fees when an asset is purchased or sold.

With eToro, you pay 1% for the eventual sale of the coin in advance, plus a $1 fee on the purchase.

This could be a problem when users transfer their coins to an external wallet. As they can no longer return them to the trading platform.

eToro Issues

It is not surprising that there have been many controversies about the platform due to its age. Most of these do NOT involve the cryptocurrency market.

One that does, though, happened during the 2021 closure of leveraged position. The following was notified to European clients of the platform in the early part of that year:

“Due to extreme market volatility in the crypto markets, margin positions for all leveraged crypto positions” should be changed to non-leveraged, or they would be closed within four hours.

This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. This led to the revocation of the eToro licence in Cyprus.

eToro was also in a feud with Redditors of /r/wallstreetbets after the GameStop short squeeze.

eToro Pros and Con

Pros

  • A platform that is already established
  • Regulated in many jurisdictions
  • CopyTrading is a unique feature that is only found in the platform.
  • Has more to offer outside of crypto trading
  • Fee is transparent

Cons

  • Stock, ETF, and cryptocurrency trading only available in 44 U.S. states
  • Margin trading is not available for U.S. users
  • There are a few cryptocurrencies available.
  • 1% fee is pretty high compared to others.
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