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. Marketplaces that allow people to trade, buy, and sell digital assets are becoming crucial.
And right on cue, to fulfill the adage: “If there’s a demand for it, someone will try to fill up that demand.” As for this case, cryptocurrency exchanges came into the picture to remedy this marketplace demand.
By definition, a cryptocurrency exchange is an online marketplace where users can exchange one kind of digital asset for another. These exchanges will be determined by the market value of the assets.
Banks are real financial institutions that can receive deposits, store and transfer money, and are licensed in the real world. Banks, basically, regulate money. They are the only legal institution that can offer customers the ability to exchange fiat currencies for another.
Meanwhile, a stock exchange is a facility where stock brokers trade company stocks and other securities. Stocks can only be bought or sold only if they are listed on an exchange. As such, stock exchanges are basically marketplaces where stock buyers and sellers do their business.
The digital world offers cryptocurrency exchanges similar services as 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.
These people believe these places could facilitate the trading of unregistered securities. They fear that crypto exchanges could be used by criminals to launder money, and they have limited AML/KYC capabilities 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. These exchanges may not be able return your money if they are shut down by law enforcement because they operate in grey 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 could happen when your cryptocurrency exchange is seized or under investigation by the authorities.
Lastly, there is a very big possibility of you losing your money from speculating cryptocurrency and then having the rug pulled under you by the founders or founding team 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.
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 Authenticator vs Google Authenticator
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 founded in 2017 by Chinese-Canadian entrepreneur and business executive Changpeng Zhao. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
Back then, the company had no place to call home.
However, there is current news that the company was headed to Malta, where it is said to be currently based. Binance is available in most countries, with the exception of the United States where Binance.US was created.
Binance’s popularity with its user base is because of its low fees, a large number of available cryptocurrencies, as well as its innovative products. The platform has a lot to offer in terms of products that are based on cryptocurrencies.
These products/services offer the opportunity to earn, trade, stake, derive and NFTs. You can even get loans, do payments, and even avail of credit cards from the service.
Cryptos Under Binance
Binance also has its own set of tokens and cryptocurrencies. In fact, there are two.
The BUSD is the first. It is a fiat-backed stablecoin issued by Binance and Paxos. This stablecoin token is backed 1:1 by 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. It was previously known as Binance Coin. The initial coin offering (ICO), launched it in 2017. This was to provide an asset for users back when Binance was still very young. 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 the main reason Binance is the largest crypto exchange platform worldwide. Binance trades are as good as free. The platform uses a maker/taker fee structure. The trading volume and Binance Coin balance will determine the fees.
That said, the platform still charges fees for some services, such as withdrawal and payment types.
- Large Selection of Cryptos
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
Binance is a platform that allows users to make more money from their crypto assets. Customers can earn income by adding liquidity to token pairs. You can also try on some staking options available on the platform.
However, these opportunities come with a lot of risk. Users must be able to recognize and weigh the risks. That said, trading and dealing with crypto is already risky in itself.
- Advanced trading tools
Lastly, Binance would not be called a crypto exchange platform if it were without trading tools.
Binance offers advanced trading tools that make it easy to tailor trading options. 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
Binance’s overall trading experience is excellent. It provides various trading tools that allow for smoother and faster transactions. You can even use real-time charts with moving averages, which makes it easy and accessible.
When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. It’s possible to do this through the Binance App or the Binance website.
The platform will keep track of traders’ portfolios for them, so they won’t need to use any additional tools or platforms. Anyone who wants to track their trades can access their trade history 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. The amount of BNB that the user has will also be important.
The fees you pay will depend on whether you are a taker or a maker. Makers (those that add liquidity to the market) tend to be favored and get lower fees than takers (those that remove liquidity orders from the market).
Binance uses its native currency to facilitate 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 | Between 5,000,000 and 19,999,999 with 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 999,999,999 and at least 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
Despite being one of the biggest names in crypto, Binance has its issues and controversies.
The year 2019 was a terrible year for the exchange platform.
On May 7, 2019, it was revealed that Binance became a victim of a “large-scale security breach.” It was reported that hackers had stolen 7,000 Bitcoin worth $40 million then. 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. In fact, saying that Binance had a rough year in 2021 is an understatement.
On allegations of tax crimes and money laundering, the United States Department of Justice 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. In an effort to combat crime, these data contained names and addresses.
In October the same year, another hacker attacked its network. The company had to temporarily suspend transactions and fund transfers after detecting an exploit between two blockchains. The issue had been contained as soon as it popped up.
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 Trading Options and Order Types
Cons
- Non-beginner friendly. Many features can be overwhelming for beginners to use and access
- Regulation issues with many countries, including major ones such as the United States, Japan and the United Kingdom.
- Not available in the United States because of regulatory issues. Even the US-specific service, Binance U.S. (a more limited version), is unavailable in some states.
- There is no built-in digital wallet
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance Versus Coinbase
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. It is a distributed company, and as such, all people employed by the platform operate via remote work.
As such, the company does not have a physical headquarters because they don’t need one. It used to have a company headquarters in San Francisco, but this palace was abandoned, and the company changed operation to remote-first.
Brian Armstrong, an ex-engineer at Airbnb, founded Coinbase in June 2012. He joined the Y Combinator incubator program and received a $150,000 cash injection.
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).
The two guys believed that bitcoin was a crazy idea that would revolutionize money and finance. Both men shared the belief that bitcoin would be huge. As such, they wanted to bring crypto to the mainstream and make it easy to use. That was their impetus for making Coinbase.
Coinbase is now the largest crypto exchange in America and the world, but its humble beginnings are not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Binance Authenticator vs Google Authenticator
Cryptos Under Coinbase
Coinbase doesn’t have any original coins or cryptocurrency. The platform supports over 100 cryptocurrencies. They also regularly add more cryptocurrencies as the need arises.
As such, here is a glimpse of the different cryptocurrencies coinbase has to offer:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Uniswap
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- DAI (DAI)
- SushiSwap (SUSHI)
Coinbase Perks
- Extensive Selection of Cryptocurrency
Coinbase is the largest cryptocurrency exchange in America. The market offers a wide range of cryptocurrencies.
A Bitcoin (BTC-focused exchange. Coinbase now offers over 150 different cryptocurrency types. In fact, you can trade currencies like Bitcoin (BTC) and other major coins for smaller and newer digital tokens.
Coinbase is the only cryptocurrency exchange that offers a wide selection of products in the U.S. market.
- Simple and Advanced Trading
Coinbase offers two trading tools to make it easier for users to access their accounts. You can choose from a simple or advanced trade option.
The simple trading option features a straightforward design that is easy to use, especially for beginners. The only downside of this option is that it takes higher fees, which might be counterintuitive to crypto investing’s philosophy of keeping fees to a minimum.
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.
With that said, placing your trades in advanced trading is highly advisable just to maintain low fees.
- Get Free Crypto
For those wanting to earn more crypto, Coinbase gives a cool feature that allows customers to do so. 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. Also, anyone who declines to pay for money is a fool. Even if that amount is
- 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. It is for this reason that Coinbase is the ideal platform for those just starting to invest in crypto.
- Mobile App
Coinbase up its accessibility factor by allowing users to access their accounts with a mobile app. Like the web platform, their mobile app provides user-friendly ways to buy, sell, and manage your cryptocurrency.
This Coinbase App is not just something that is not some garbage or bloatware. It is legit and has high ratings on both the Apple App Store and 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 stake certain cryptocurrencies such as Solana (SOL), and Ethereum (ETH).
Staking allows participants to receive rewards for their crypto assets. It is how many cryptocurrencies verify transactions. You commit your crypto assets to support a blockchain network and confirm transactions when staking in cryptocurrencies. Binance Authenticator vs Google Authenticator
As said, staking on cryptos will give you certain free rewards. This is not possible for all cryptos. It varies depending on your region as well as the cryptocurrency.
- Coinbase Debit card
Coinbase lets users trade, but also allows them to access their hard-earned wealth and use it with 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. This rewards program allows you to choose the crypto that you want from a rotating list.
Coinbase Trading Experience
Coinbase offers a different kind of service than Binance, which has lower fees and more advanced training tools. Coinbase targets people just starting their crypto journey.
This platform provides tools to enable crypto traders to quickly and easily 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 Authenticator vs Google Authenticator
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.
You can also view real-time charts, trade history and order books, as well as 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. There is no such fee. Anyone can access the pro version of Coinbase by creating an account.
Coinbase Trading Fees
Coinbase doesn’t disclose their fees and pricing. Their entire fee schedule was removed from the online help section. However, you won’t have to pay all fees at once. 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. The fee structure is too complicated and difficult to understand. It is said that the fee structure depends on three confusing factors:
- Coinbase charges a spread for cryptocurrency purchases and sales. There is a huge charge that rates will vary depending on market fluctuations.
- Coinbase claims fees are also based on factors such as the selected payment method, market conditions (volatility and liquidity), and even the order size.
- Lastly, Coinbase also charges fees to cover the costs of executing transactions on the external blockchain networks that support the cryptocurrencies in which it deals. Binance Authenticator vs Google Authenticator
Coinbase Pro’s pricing structure is simpler. It is determined by the customer’s monthly trading volume as well as the liquidity of the asset at 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 |
| From $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
Trades over $200 are subject to a percentage-based fee instead of a flat fee.
For Coinbase Pro, a general idea of the fees is shown in the chart below.
| Pricing Tier | Taker Fee | Maker Fee |
| Get 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.
On February 16, 2018, Coinbase admitted that some customers were charged more than originally intended for their credit and debit purchases of cryptocurrencies. These problems started earlier in the month when banks and card issuers charged crypto purchase merchant category codes (MCC).
The issue stemmed from the fact that crypto payments were categorized as “cash advances” and that banks and credit card issuers could begin charging cash advance fees for these purchases.
According to a Financial Times article Visa, the credit card company, initially blamed Coinbase. Later, however, Visa retracted those statements and stated on the Coinbase blog that Coinbase was not responsible for the issue.
In 2018, customer complaints against Coinbase jumped more than 100%. These complaints were mostly referred to as “money not available when promised.” Coinbase solved the problem by increasing customer service staff to decrease wait times.
Coinbase also participated in the first ever case of insider trading in cryptocurrency. The company’s former product manager shared information about tokens. Prosecutors were provided with all the information necessary for an internal investigation by the company.
Coinbase Pros and Cons
Pros
- It is very easy to use and user-friendly for people just beginning in cryptocurrency
- Supports a large number of cryptocurrencies
- Offers the opportunity to earn cryptocurrency and learn about them.
- Offers simple and advanced trading depending on user preference
- Offers coinbase debit card, which allows for easy withdrawing of funds Binance Authenticator vs Google Authenticator
Cons
- Complex and complicated fees structure, which is not transparent
- Some transactions attract high fees
- There are limited staking opportunities and interest possibilities.
- A lot of altcoins are missing from their selection
- Customer service issues
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance or Kraken?
Both Binance and Kraken are giants of the cryptocurrency world, with both platforms amassing millions of users. There might seem like a huge gap between the two platforms should we compare their rank (Binance being first and Kraken at fourth), but there is more to it than that.
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 Authenticator vs Google Authenticator
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 and some ETH.”
Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. However, it was only launched in September 2013, offering Bitcoin, Litecoin, and euro trades. Further currencies and margin trading would follow.
Powell started working on Kraken to replace Mt.Gox (another bitcoin exchange, based in Shibuya Tokyo, Japan). Before its 2014 collapse due to failed security audits, Powell was a consultant to the exchange.
Kraken also joined with other US Bitcoin players in the formation of the “Committee for the Establishment of the Digital Asset Transfer Authority”, the industry’s selfregulating group. Binance Authenticator vs Google Authenticator
Kraken was very successful in 2014. In March of that year, the company received a $ 5 million Series A investment from Hummingbird Ventures and Bitcoin Opportunity Fund.
Later, it became one of the first bitcoin exchanges to be listed on Bloomberg Terminal. It has since chosen to help with the investigation of Mt. Gox, Powell’s former employer. Kraken was relied upon because of its proven operating history of not being breached by hackers.
In September 2020, Kraken became the first cryptocurrency exchange to hold a special purpose depository institution (SPDI) charter in the United States after Wyoming granted such a charter to the company.
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.
Dave Ripley replaced him as CEO.
Cryptos under Kraken
Kraken supports at least 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 (UNI)
Kraken supports several stablecoins, including Tether, USD Coin and Dai. Kraken also has a limited currency exchange that is available in select territories. This includes converting US dollars into Canadian dollars, Japanese yen, and Swiss francs. Binance Authenticator vs Google Authenticator
Kraken Perks
- Beefy Security
Since its founding in 2011 and launching in 2013, Kraken has been a mainstay of the cryptocurrency industry. Since its inception, Kraken’s focus was on security. It has never stopped focusing on it over the years. It is actually the only cryptocurrency exchange to have not been hacked.
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. A claim that the company is just too happy to boast about
- A healthy range of available cryptocurrencies
Kraken has over 160 coins and seven fiat currencies available to trade on its platform. While it’s not the biggest amount, it is still a healthy number and is comparable to some of the best crypto exchanges. Binance Authenticator vs Google Authenticator
This amount helps Kraken maintain high liquidity, making buying and selling at a fair price easier on the platform.
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.
In the case of Kraken, one currency pair would be using 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.
- Trading features
Kraken is the only exchange that offers margin, stop orders and crypto short sales. Kraken also has a dark pool where high-volume investors can trade without their names being known.
Kraken allows you to leverage a currency pair by up to 5x. Some eligible pro clients can access up to $500,000 in the margin. Margin trading is still risky.
- The fees are affordable.
Although it’s not the most expensive on the market, Kraken’s fees remain competitive and comparable to other exchanges. It’s even less expensive than other exchanges.
There are no fixed trading fees. They will vary from one exchange to the next. 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
Kraken offers a variety of stake options. 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 geared toward intermediate to veteran users in mind. The platform is accessible to beginners if they wish. To learn the ropes, it is recommended that they begin with the Kraken central platform. Binance Authenticator vs Google Authenticator
Kraken allows verified accounts with linked bank accounts to purchase cryptocurrency quickly. From there, selling or converting your crypto into your account is just a simple process. The website has a simple form that allows you to place orders. It usually takes a few seconds.
Their system makes it easy to buy cryptocurrencies using your bank account balance. Your account doesn’t need to be funded first.
Two-factor authentication (2FA) is a security feature that you can use to protect your Kraken account. To log in to your account, you’ll need to have your device.
Kraken Pro, on the other hand is Kraken’s most advanced trading platform. At first glance, it has a more complex interface than the regular Kraken exchange. Kraken Pro is intimidating for new traders. It is well worth the effort. Binance Authenticator vs Google Authenticator
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. If you feel confident, you can trade the same trade with Kraken Pro. You’ll pay less and earn more at the end of the day.
Kraken Fees
Kraken’s fees fall in the middle of the market, as we have already stated. It’s not the lowest in the market, and it is also not the highest. There are other factors that could affect the cost of the fees you will be paying.
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. These prices range from 0.5% for funding with a bank account. For a digital wallet, you can get a 25-Euro cents debit card, credit card or card at 3.75% plus 25 Eurocents. Binance Authenticator vs Google Authenticator
Kraken Pro’s pricing however is quite 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. Remember that transactions are subject either to a 0.16 maker fee or 0.26% taker fees.
Below is a general chart of their maker-taker fees in a 30-day volume 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
Kraken has not had to deal with any issues other than disagreements about its work culture, which the company has worked on and is now ready to move on.
Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.
That said, Kraken has its fair share of issues regarding government regulations.
In April 2018, Kraken refused to comply with an investigation by the New York Attorney General’s Office on issues about the measures taken by crypto exchanges to protect their customers from money laundering and market manipulation.
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.
- Excellent and reliable customer service
- Relatively low Bitcoin (BTC) withdrawal fees
- Provides a wide range of educational material.
- The most secure exchange on the market
- Simple user interface
Cons
- Base Kraken platform has pretty expensive fees compared to the Kraken Pro version. Luckily both modes can easily be accessed as long as you have a Kraken account.
- Kraken only accepts a few fiat currencies
- Some users have complained about having their accounts hacked. Binance Authenticator vs Google Authenticator
- Not available in all U.S. States
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Crypto.com
Binance and Crypto.com have become some of the most popular cryptocurrency exchanges. 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. Plenty of factors are at play for why one is ranked higher than the other.
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 Authenticator vs Google Authenticator
Crypto.com Overview
Crypto.com was founded in Hong Kong back 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.
Domain sellers might sell the domain for a larger sum, with the domain being valued at between US$5 and 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.
It also has a huge selection of currencies numbering at least 250 different currencies, reasonable fees, and even discounts to some specific customers (like those with huge stakes in the Crypto.com’s very own coin, the cronos (CRO).
Crypto.com’s main selling point and focus is in their exchange. However, that is not what they all do, they also offer a variety of crypto services which include their own crypto wallet, and even an NFT shop. Shopify has partnered with the company to accept cryptocurrency as a payment method.
Crypto.com can be described as a cryptocurrency platform that allows traders and investors to do more than just buy and hold. With Crypto.com, cryptocurrency can also be currency.
Cryptos under Crypto.com
Crypto.com offers a wide selection of currencies. 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 (UNI)
As mentioned above, Crypto.com also has its coin called Cronos (CRO). Having a significant stake in this coin rewards you with lower trading fees, higher stalking interest rates, and higher credit card rewards. Binance Authenticator vs Google Authenticator
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. Basically, Crypto.com puts weight on the currency part of cryptocurrency.
- 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 allows you to buy and sell cryptocurrency at the true price, which is why you should know that “what you see is what your get”.
The platform charges a fee for purchases of crypto with a debit or credit card. As an added reminder, payments made with a credit card may also have an added charge of a cash advance fee when buying crypto
- Convert your Money Easily
Although this feature isn’t unique to Crypto.com it deserves to be listed. The Crypto.com app allows users to convert their fiat currencies into crypto. Provided that Crypto.com is limited to 20 fiat currencies available on the platform.
These fiat currencies include USD and GBP as well as EUR. But, just because a fiat currency is listed on Crypto.com, does not necessarily mean it will be available for you to trade. Your country of residence will still be a big factor limiting your ability to trade in certain fiat currencies.
- Cashback Cards
One of the best perks you can get as a member of Crypto.com com is the availability of Visa Cards connected to your Crypto.com account and 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.
The type of Card available for you will also depend on how much CRO stake you have in the platform.
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 tier earns you 5% cash back or cryptoback, as well as lots of bonuses. To qualify, you will need to have at least $400,000 in stakes. Binance Authenticator vs Google Authenticator
Midnight Blue, Jade Green/ Royal Indigo and Frosted Rose Gold/ Icy White are some of the other cards that are available. These cards don’t have an annual fee, and you get a certain number of ATM withdrawals and foreign transaction each month for no additional charge.
- 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.
Using the app, you can increase your interest rate in multiple ways. One of them includes Staking 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.
If you make a deposit for a term of one month or more, the interest rate can be increased to 3 months. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins are usually tied 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. That also means they are also less likely to depreciate in value.
In the end, keeping your savings in crypto is still risky. Cryptocurrencies are still a volatile entity, and if it fails, your savings may be reduced… by a lot.
- Gift cards and phone top ups
Crypto.com also offers phone top-ups and gift cards. Buy gift cards from popular brands to earn cash back benefits.
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. You can also find gift cards from the United Arab Emirates, Norway, Singapore and Spain.
Macy’s and Barnes & Noble are some of the brands.
The amount of cashback you get will still depend on how much CRO you have staked and what type of company it is.
Crypto.com Trading Experience
When using Crypto.com, your trades will mostly revolve around its mobile app, which serves as the platform’s central hub. For those who have been trading stocks on their phone or tablet before, the experience will be easy and similar to what you would expect. Binance Authenticator vs Google Authenticator
This app shows the user their portfolio and lists of their most popular assets. It includes everything needed that Crypto.com says it offers. You can trade currencies, earn by staking crypto, make cryptocurrency payments, and even apply for a Crypto.com card.
Where would you pick up a trading application without its chart tools. 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. More popular ones include the Australian (AUD) and Canadian (CAD) dollar, the euro (EUR), the British pound sterling (GBP), the ever-popular U.S. Dollar (USD), and even the Brazilian real (BRL). This allows users from multiple countries to buy and enter crypto using their local currency.
Crypto.com Fees
When it comes to trading fees, Crypto.com is pretty competitive in its pricing. 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. Higher stakes result in lower rates.
However, Crypto.com users who are newer than 25 000 USD will be charged 0.4% for trades that have a monthly volume 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 250,000 | 0.0700% | 0.0720% |
| Greater than or equal to 1,000,000 | 0.0650% | 0.0690% |
| Greater than or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than 10,000,000 or equal to 10,000,000 | 0% | 0.0500% |
Meanwhile, the table below is the maker and taker rates for those who have less a stake of than or equal to 100 CRO (3% discount)
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Below 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% |
| More than 5,000,000 or equal to 5,000,000 | 0.0582% | 0.0631% |
| Greater than 10,000,000 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. According to reports, the company had 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. As such, Crypto.com had to let go of hundreds of employees, which started in May. The company was forced to lay off between 30% and 40% of its employees in October 2022.
Their exchange token Cronos (CRO), lost $1 billion in value between November 2022 and November 2022. This was in part due to the collapse of FTX. Crypto.com CEO Marszalek reassured that the exchange was operating 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
- There are a lot of crypto coins and tokens available Binance Authenticator vs Google Authenticator
- 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
- Some areas are lacking customer service and some of it is very poor.
- There is a shortage of educational resources.
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Kucoin
When Comparing KuCoin and Binance side by side, the winner is pretty clear. It is Binance, and that is by a lot. KuCoin, despite being one of the earliest platforms for trading cryptocurrencies, has been left in the dust by the likes of Kraken and FTX (at least before they went bankrupt).
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 founded back in 2013.
KuCoin started because of MichaelGan’s eagerness to learn about blockchain and its application possibilities. He discovered Bitcoin from his boss, Eric, and started getting in on the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto changed the global financial system.
Eric and Michael had already written the first code for KuCoin in a coffee shop by the end of 2013. This was the beginning of the platform that would become the “People’s Exchange”.
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.
Veteran traders looking for a wide selection of assets may appreciate this extensive selection of coins and tokens. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. Binance Authenticator vs Google Authenticator
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 lesser-known coins are riskier than the more stable and popular ones. People need to be aware of what they are getting 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. In fact, it ranks in the upper echelon when selecting coins available in 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.
In KuCoin, you don’t have to pay any monthly account 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 Authenticator vs Google Authenticator
These fees depend on the transfer method you choose and what third-party app that you use.
- Earn Through Interest on Your Crypto
KuCoin, like most cryptocurrency exchanges lets you make money with your crypto. KuCoin Earn is the name of the KuCoin service.
KuCoin Earn gives you two ways to make money from your crypto. First, you can take coins through Pool-X, a company backed by KuCoin. You can also lend your crypto to get the interest.
Loaning your crypto nets your interest bigger than what you’d normally get with a saving account. That said, the coin and its demand still affect how much you earn.
The exchange claims that you can make a lot of money this way, with an average earning rate of 8% to 12.5%. KuCoin makes margin trading possible by using this money. Although it might seem risky, the company assures that all lenders will be fully repaid.
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 permit margin trading which allows users leverage their position which allows them to borrow money to purchase more crypto.
KuCoin also allows the use of trading bots in its mobile app. This means that you don’t have to buy and sell your cryptocurrency yourself. Instead, you can let a computer handle that task for you. This is pretty convenient as you do not always need to be online to do your business.
However, bots can pose a risk. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. You don’t always know their strategies and perimeters when you trade with them.
As such, the convenience bots provide may not be worth the uncertainty of how they’re handling your assets.
KuCoin Trading Experience
KuCoin can be accessed online or via an Android and iOS mobile application. Each platform offers a variety of tools and features that you can use to trade on it.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. From there, users can do whatever they want, from viewing markets, buying, trading, and lending crypto, as well as many other activities.
In the case of order types, the platform supports four. These are market order, limit order, stop-limit order, and stop-market order.
Users have access to orders as well as 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 Authenticator vs Google Authenticator
The exchange recently added a Trading Bot feature that will simplify the entire trading process.
Overall, KuCoin has plenty of 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
When it comes to trading fees, KuCoin divides their rates 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.
| Trading 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.
In Trustpilot reviews, it got an average of just 1.7 out of 5 stars out of 600 reviews. Most of these negative reviews are about problems with customer support, the withdrawal process, and even making deposits Binance Authenticator vs Google Authenticator
KuCoin was also accused of manipulating the market. Some even claimed that their assets disappeared randomly from their accounts. This is a problem especially when it comes to 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. The exchange lost about $280 million worth of crypto from users’ hot wallets to hackers. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Cons
Pros
- Low fees
- Strong user base
- Wide range of coins
- Allows you to earn interest on your crypto
- Trading features
- Good customer service
Cons
- Not licensed in the U.S.
- Limited payment methods
- New traders can find it intimidating and overwhelming
- Has limited education resources
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Bittrex versus Binance
Bittrex and Binance are two crypto exchanges with more similarities than differences. Both offer similar features that users can enjoy. Despite being similar, the two platforms have 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.
Bittrex was once one of the top cryptocurrency exchanges in the world. Binance was able to surpass them despite having stricter Know Your Customer (KYC), and anti-money laundering policies.
Bittrex Overview
Bittrex is a cryptocurrency exchange that aims to operate a world-class service with focus and trust.
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 Authenticator vs Google Authenticator
Despite the newness of their fiat trading, they still offer a wide selection of 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. This variety, like most exchanges makes Bittrex platforms attractive 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% This can get lower depending on the trade volume. It is still not the lowest on the market. Some exchanges have lower fees compared to them.
- Execution of fast trading
Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This even keeps up despite having a heavy 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
Cardano (ADA), cryptocurrency holders would be thrilled to have this platform. Bittrex allows users to stake their Cardano crypto throughout the exchange. You can get up to 5.5% in reward. Binance Authenticator vs Google Authenticator
- Educational Content
We all know how complicated and elusive finances can be. So by association, cryptocurrency is just as mind-boggling and arcane. Any way you can educate yourself about the topic is a blessing.
In Bittrex’s case, it offers an impressive library of educational resources in its Discover section. You will find references and articles on a variety of crypto topics here. 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.
While it does not fully remove the risk in cryptocurrency, at least it helps users make more informed decisions. Binance Authenticator vs Google Authenticator
- 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.
While this may not look 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
Bittrex trading is simple and straightforward. Users just need to log in, and then they can access their trading dashboard. It can be accessed via a desktop or mobile app.
The desktop interface offers a simple “instantbuy/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. Users also have the option to place more complex orders. Stop, stop limit, trailing stop, and laddered orders.
Bittrex Fees
Bittrex has a simple fee structure that makes it easier to understand their fees than other 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 |
| Less than $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 received negative reviews from users. Most of these issues stem from account lockouts, frozen assets, and problems with identity verification. These problems are widespread across all crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros and Cons
Pros
- Highly secure
- A wide range of cryptocurrency available
- Fairly low fees
- Advanced trading tools
- Pretty helpful educational content
Cons
- Customer support is mediocre and often unhelpful
- Can be challenging for beginners
Binance versus eToro Binance Authenticator vs Google Authenticator
Binance and eToro are two of the most well-known cryptocurrency platforms. They are both very well-known and have a strong market presence.
However, there is a difference that divides the two. That is, they are very different platforms. Binance is a cryptocurrency exchange, eToro is not. It is, in fact, a cryptocurrency broker.
Binance offers a variety of digital assets, including NFTs and services. A cryptocurrency broker also sells crypto along with other investment products such as stocks and fractional shares.
eToro Overview
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. Rather, the Tel Aviv-based company was originally an online forex broker under the name 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 was only able to get involved in the cryptocurrency market after it added support BTC in 2014. CFDs could now be bought and sold to non-U.S. users. The world’s most popular digital currency. It added support for Ripple and Ethereum four years later. Binance Authenticator vs Google Authenticator
Also, in 2018, eToro went full steam on the crypto industry. 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. That said, some popular currencies found in the service include:
- 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 Authenticator vs Google Authenticator
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.
The platform will then set the funds and attempt to match the positions of their favorite eToro traders proportionally.
It is completely free, which is quite surprising. 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.
It was expected that users would still be able to participate in the action since the platform began in foreign currency.
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.
- Deposits to Fee Debit cards
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 can be used as a web-based platform or as a mobile app.
Starting in the platform is as easy as depositing fiat currency from a debit card or bank account, and then they can trade immediately.
A trading tab provides an intuitive view of the current prices, buys, sales, and 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. It does not offer advanced charting and conditional orders.
Also, the lack of cryptocurrency choices limits the cryptocurrency fairs the platform can offer.
It is also eToroX, the flagship digital asset platform with all the bells and whistles users would expect from an institutional-grade exchange.
eToroX now offers U.S. Dollar deposits, margin trading and trading APIs. It also allows for fast execution.
eToro Fees
eToro offers a refreshing view on fees. Unlike most cryptocurrency exchanges, which don’t show their fee, eToro lists the fees it charges when trading crypto.
eToro users are charged a flat fee of 1% per trade in crypto. The platform refers to this 1% market fee as a bid-ask spread. This fee is charged when users close or open positions.
However, most users do not like that on eToro, and you pay for the “round trip” upfront. This is unlike other exchanges that only charge a fee when a purchase or sale of a crypto asset is done.
eToro charges 1% upfront for the eventual sale and a $1 purchase fee.
Users can have this problem if they transfer their coins to another wallet. As they can no longer return them to the trading platform.
eToro Issues
Due to its age, it is not surprising that the platform has had its fair share of controversies. However, most of these do not involve the crypto market.
One that does, though, happened during the 2021 closure of leveraged position. Early that year, European clients of the platform were notified of the following:
Margin positions for all leveraged crypto position should be changed from leveraged to non-leveraged. Otherwise, they will be closed in less than four hours.
This was not a good move, and many lawyers and users expressed intent to file a class action lawsuit. It even provoked actions of having the eToro license in Cyprus revoked.
eToro also found itself in an unfavorable feud against Redditors from /r/wallstreetbets following the GameStop short squeeze.
eToro Pros and Con
Pros
- A platform that is already established
- Regulated in many jurisdictions
- CopyTrading, a unique feature only available on the platform, is an exclusive feature.
- There’s more to it than just crypto trading.
- Fee is transparent
Cons
- Only 44 states in the United States allow stock, ETF and cryptocurrency trading
- Margin trading is not available for U.S. users
- There is a limited selection of cryptocurrencies.
- The 1% fee is quite high in comparison to other fees.