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 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 place offering the right to exchange one fiat currency for another to its customers.

Stock brokers can trade securities and stocks on a stock exchange. Stocks can only be bought or sold only if they are listed on an exchange. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.

The digital world offers cryptocurrency exchanges similar services as banks and stock exchanges.

Still, as with there are people who still treat cryptocurrencies with trepidations and agitations. 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 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.

For example, there is a good chance that law enforcement may shut 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.

There is also the possibility of your funds getting locked in the exchange, leaving you with no way of withdrawing or even selling your cryptocurrency and other digital assets. 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. Especially when these founders are hustlers or scammers who are too good at what they are doing.

Remember, when working with cryptocurrency and anything related to them, everything is always a gamble. It is smart to always proceed with caution. Like with gambling, there are more chances of losing than winning. High-risk, high-reward.

For those of you who prefer a more visual experience, here is a video review from Mark Farfan’s YouTube channel. You can still check our article below for a complete overview of Binance. It also compares it with some other competitors.

Binance Exchange  How To Transfer From Ftx To Binance

Binance Overview

Binance is the most popular cryptocurrency exchange in the entire world. It has the highest trading volume of any crypto exchange service and offers the most number of cryptocurrency trading pairs.

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.

Back then, the company had no place to call home.

The company is currently based in Malta. 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.

Some of these products/services include the chance to earn, exchange, 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. There are actually two.

The first one is called BUSD. It is a fiat-backed stablecoin issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. The company created BUSD as a means to provide a more stable cryptocurrency alternative for traders and investors wanting to avoid the volatile nature of the 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 was originally an ERC-20 standard token that was 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’s used to pay trading, listing and exchange fees as well as other expenses that 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.

That said, the platform still charges fees for some services, such as withdrawal and payment types.

• Large Crypto Selection

The number of cryptocurrencies on the market will determine how good a crypto exchange platform is. Of course, being the biggest one there is, Binance carries a lot and other digital currencies available.

There are even decentralized finance (DeFi) tokens available, as well as stablecoins, altcoins, and other popular cryptos.

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.

• Earn Multiple Ways

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.

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.

Charting tools can also be extremely useful for veterans traders when making trade decisions. You can even sell leveraged tokens to make trading easier.

Binance Trading Experience

The overall trading experience with Binance is pretty good. You can trade with Binance using a variety of trading tools, which allow for faster and more efficient 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.

Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. Anyone who wants to track their trades can access their trade history on the exchange platform.

You can even customize how they view trading. This makes it easier to understand data. In fact, users can choose how they prefer these data to be presented, which makes it easier to pinpoint the more important ones.

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. 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 offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).

This chart can be used to quickly reference Binance’s fees.

VIP	30-Day Trade Volume (BUSD)	Maker/Taker
0	Less than 1,000,000	0.10%/0.10%
1	1,000,000 to 4999,999 with 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	20,000,000 to 119,999,999 and 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	200,000,000 to 499,999,999 and 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	2,500,000,000 to 4,999,999,999 and 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. However, customers were reimbursed by the site’s “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 also had to cancel the planned launch of its own digital asset marketplace in Britain. Their application did not meet anti-money laundering requirements.

The next year, it was once again put in hot water as it was reported that Binance was said to have shared client data with the Russian government. In an effort to combat crime, these data contained names and addresses.

Then in October of the same year, it suffered another hack on its network. After discovering an exploit between two different blockchains, the company had to suspend transactions and funds transfers temporarily. 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
• Wide 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.
• Due to regulatory issues, the service is not available in the United States. 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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Binance Versus Coinbase

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

The one is an American-based exchange and is suitable for beginners. It has a simple interface with limited transaction types and is best suited for veterans.

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.

The company doesn’t have a physical headquarters. 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.

After seeing Armstrong’s Reddit post, Fred Ehrsam became his co-founder. 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. Both men shared the belief that bitcoin would be huge. They wanted to make crypto more mainstream and easy to use. This was the impetus behind Coinbase.

Coinbase is now the largest crypto exchange in America and the world, but its humble beginnings are not glamorous. Coinbase was actually founded in a shared two-bedroom apartment. How To Transfer From Ftx To Binance

Cryptos Under Coinbase

Coinbase doesn’t have any original coins or cryptocurrency. That said, the platform does support 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

• A wide selection of cryptocurrency

There is a reason why coinbase is the biggest cryptocurrency exchange in the United States. 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

To make the platform more accessible, Coinbase provides two separate trading tools that users can access in 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. This option is cheaper, but it comes with a tradeoff: it’s more difficult to use, more complicated, and more intimidating for 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. Besides, whoever declines free money is always 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. 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 Reward

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. How To Transfer From Ftx To Binance

As said, staking on cryptos will give you certain free rewards. 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.

A Coinbase account allows you to apply for a Coinbase Card, which is a prepaid Visa debit credit card that can be linked to your Coinbase balance. Through it, you can spend your cryptocurrency to pay for some services (especially those services and establishments that welcome Bitcoin and other crypto payments).

You can also use the Coinbase card to earn 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 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.

However, this doesn’t mean that veteran traders have only beginner tools to use. For that, Coinbase offers Coinbase Pro. This platform is designed for experienced traders. How To Transfer From Ftx To Binance

Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. Examples include the ability to choose among several order types, such as stop or limit order and margin order.

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 with a Coinbase account can already access and use the pro version.

Coinbase Trading Fees

The thing with Coinbase is that they do not give away their pricing and fees. They even removed their full fee schedule from their online help section. However, you won’t have to pay all fees at once. You will still be able to see the cost of entering a trade so that you are aware of what you will have to pay.

To be honest, this is where coinbase falls off from the competition. The fee structure is too complicated and difficult to understand. The fee structure is based on three factors that can be confusing:

• Coinbase charges a spread on cryptocurrency sales and purchases. The spread is significant because rates can fluctuate depending on market conditions.
• Coinbase claims fees are also based on factors such as the selected payment method, market conditions (volatility and liquidity), and even the order size.
• Coinbase charges fees for transactions executed on external blockchain networks that support cryptocurrencies. How To Transfer From Ftx To Binance

That said, Coinbase Pro’s pricing model is more straightforward. 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.

Below is a chart that shows you the fees you can expect from the main coinbase platform.

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

Trades over $200 are subject to a percentage-based fee instead of a flat fee.

The chart below gives an overview of Coinbase Pro’s fees.

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

Given how much of cryptocurrency is still in a legal area, there is a distinct chance that those involved in it will have their fair share of issues or controversies.

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”

Coinbase received more customer complaints than ever in 2018, with an increase of over 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 was also involved in the first-ever case of insider trading regarding 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.

Pros and cons of Coinbase

Pros

• It is very easy to use and user-friendly for people just beginning in cryptocurrency
• It supports a wide range of cryptocurrencies
• Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
• You can trade simple or advanced depending on your preference
• Offerings a coinbase debit card that allows easy withdrawal of funds How To Transfer From Ftx To Binance

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

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Binance or Kraken?

Both Binance and Kraken are giants of the cryptocurrency world, with both platforms amassing 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.) while Kraken is widely available in the country.

These two platforms share many similarities, including both offering advanced trading options and low fees as well as mobile apps. Both platforms are targeted at experienced or veteran cryptocurrency traders.

Ultimately, it will be up to customers to choose which platform by choosing what they value most. Binance will be the one to choose with their lower fees, large selection of coins and extra way of managing funds. Or will it be Kraken and its high regard for security standards, which won them a bank charter approval in Wyoming in 2021. How To Transfer From Ftx To Binance

Kraken Overview

Kraken is a fully functioning crypto exchange that offers low fees and a wide selection of tokens and coins. 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. In fact, users and traders have praised Kraken for being one of the only crypto exchanges that “has been probably the only exchange that hasn’t been involved in some kind of shady activity against its users…that doesn’t indulge in 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.”

Kraken was co-founded in 2011 by the aforementioned Jesse Powell, who was an alumnus of California State University, Sacramento, with Thanh Luu. However, it was only launched in September 2013, offering Bitcoin, Litecoin, and euro trades. Additional currencies and margin trading were to follow.

Powell began working on Kraken as a possible replacement for 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. How To Transfer From Ftx To Binance

The year 2014 was very big for Kraken. 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, Powell’s former employer. Because of its track record of being secure, Kraken is trusted.

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.

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. How To Transfer From Ftx To Binance

Kraken Perks

• Beefy Security

Since its founding in 2011 and launching in 2013, Kraken has been a mainstay of the cryptocurrency industry. Its eyes were focused on security from its first day, and it never kept its eyes off it after all these 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. This is a claim Kraken is too proud to make.

• Healthy Range of Available Cryptocurrencies

Kraken offers trades on its platform with over 160 coins and seven fiat currency. While it’s not the biggest amount, it is still a healthy number and is comparable to some of the best crypto exchanges. How To Transfer From Ftx To Binance

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 quote of the exchange rate of two different currencies traded in FX markets.

In the case of Kraken, one currency pair would be using dollars to buy Bitcoin and vice versa. You will always swap one currency for the other if you use dollars to buy Bitcoin, and then Bitcoin to purchase Ethereum.

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

• Advanced 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 lets you leverage currency pairs up to 5x. Pro clients who are eligible can get up to $500,000 in 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 is even cheaper than other exchanges.

There are no fixed trading fees. They will vary from one exchange to the next. One sure factor, though, is that your fees will depend on your monthly trade history. 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.

• Optional Strong Staking

Staking options within Kraken are pretty good. You can stake in over 15 cryptos. Users can earn as much as 20%, up to 0.25%.

Staking is the act that involves tying up your coins to contribute to the overall security of a particular blockchain and can be a great way for investors to earn a passive 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. It is suggested that they start with the central Kraken platform to learn the ropes. How To Transfer From Ftx To Binance

Kraken allows verified accounts with linked bank accounts to purchase cryptocurrency quickly. It is easy to sell or convert your crypto to your account. Inside the website, orders are done using a straightforward form, which will mostly only take a few seconds.

It is easy to purchase cryptocurrencies with your bank account balance. You don’t even need to fund your account first.

In terms of security, you can keep your Kraken account safe by enabling two-factor authentication (2FA). 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. It appears more complicated than the regular Kraken exchange. This makes Kraken Pro very intimidating, especially to trading newbies. It is well worth the effort. How To Transfer From Ftx To Binance

It includes more detail about assets, active charts and the ability to view open orders.

As stated above, Kraken also allows for lower fees. If you feel confident, you can trade the same trade with Kraken Pro. You will pay less but earn more in the end.

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. Other factors may affect the price of the fees you are about to pay.

Also, prices and fees will differ depending on your platform. Kraken Pro will always be cheaper than regular Kraken.

In normal Kraken, fees for instant purchases include 1.5% for most cryptocurrencies and 0.9% for stablecoins using the U.S. dollar or another stablecoin.

Additional fees will vary depending on how you fund your purchase. These prices range from 0.5% for funding with a bank account. Meanwhile, 3.75% + 25 Euro cents with a debit card, credit card, or digital wallet. How To Transfer From Ftx To Binance

Kraken Pro’s pricing however is quite different. The fees for Kraken Pro are generally lower than those on the main Kraken platform. Fees will be calculated based on the volume of your trades over the past 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

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

Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.

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.

The Office of Foreign Assets Control began investigating the exchange in September 2021 for possible violations of sanctions by allowing trade with Iranian customers. 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 & Cons

Pros

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

Cons

• The Base Kraken platform is more expensive than Kraken Pro. Luckily both modes can easily be accessed as long as you have a Kraken account.
• Kraken accepts only a handful of fiat currencies
• A few users complain about their accounts being hacked. How To Transfer From Ftx To Binance
• 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.

There is a reason one is better than the other, but that does not mean that you should automatically run toward the higher-ranked exchange for the sake of numbers. There are many factors that influence which exchange is ranked higher than another.

The better way to choose your crypto exchange is to examine both options and determine which one appeals to you more. You can choose to go with Binance, which has a wider range of crypto currencies, but you will also have the option to choose Crypto.com, which is more user-friendly and charges lower fees. How To Transfer From Ftx To Binance

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.

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. 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. With Crypto.com, cryptocurrency can also be currency.

Cryptos under Crypto.com

In terms of selection, Crypto.com has a huge one available. You can trade spot with more than 250 currencies, and you can also staking. Some of the more popular currencies available in the platform include:

• 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. How To Transfer From Ftx To Binance

Crypto.com Perks

• One-Stop Shop

Crypto.com has a lot going for it aside from being just a plain old trading platform. It allows you to buy and sell cryptocurrencies on the exchange and swap said cryptocurrencies with others through your DeFi wallet.

Crypto.com lets you spend your crypto with 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. 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. Users can convert fiat currencies to crypto with the Crypto.com app. Provided that Crypto.com is limited to 20 fiat currencies available on the platform.

These fiat currencies include USD, GBP, and EUR, among others. However, just because it is available for trade on Crypto.com does not mean that a fiat currency will be available to you for 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.

The type of Card available for you will also depend on how much CRO stake you have in the platform.

The lowest available tier for those planning to access this card would be their Ruby Steel card, which also offers a 1% money back from your contribution. Of course, you will need to have at least a $400 stake to be able to avail of this.

For those with deeper pockets, Obsidian tier is available. This tier earns you 5% cash back or cryptoback, as well as lots of bonuses. That said, you must have at least $400,000 worth of stake for CRO to qualify for this. How To Transfer From Ftx To Binance

Other cards available include Midnight Blue, Jade Green/ Royal Indigo, and the Frosted Rose Gold/ Icy White. 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. Those who have a Crypto.com account can also earn high rates of interest. In fact, Crypto.com have some of the best high-yield savings accounts in the market.

You may have to keep a lot of cash in CRO to benefit from this perk, but the maximum interest you can earn is below 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 of them includes Staking more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.

You can also increase the interest rate if you deposit for a one-month term to three-month terms. While one-month terms are more flexible than three-month terms, deposits for three-month terms 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 can help you earn more interest.

Stablecoins, being stable, are less likely to appreciate in value than normal cryptocurrencies. They are less likely to lose value.

It is risky to keep your crypto savings. Cryptocurrencies are still a volatile entity, and if it fails, your savings may be reduced… by a lot.

• Gifts 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.

Brands include Macy’s, Barnes & Noble, Airbnb, and many more.

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

Your trades with Crypto.com will largely revolve around the mobile app. This 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. How To Transfer From Ftx To Binance

The app in question shows the user’s portfolio and a list of their more 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. These charts provide enough information for users to understand the cryptocurrency and blockchain, which might be useful before they buy.

In terms of fiat currencies, Crypto.com has a fair selection. 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.

Discounted trading fees have become available when users hold at least 5,000 CRO in their wallet. 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 that shows fees for spot trades and margin trades for customers who have no CRO stake.

30-Day Spot Trading Volume (USD)	Maker	Taker
Below 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%
More than 5,000,000 or equal to 5,000,000	0.0600%	0.0650%
Greater than 10,000,000 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
Below 250,000	0.0728%	0.728%
Greater than or equal to 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 10,000,000 or equal to 10,000,000	0%	0.0485%

As stated, discounts are based on the CRO stakes. Maker fees for those with stakes greater than or equal to 50,000 CRO become zero. People with even higher stakes may be eligible for rebates.

Crypto.com Issues

Like most cryptocurrency exchanges, Crypto.com does have its fair share of 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 quickly paused withdrawals which were later restored. The company stated that customer funds had not been lost in the process of restoring 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 in part due 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
• Converts money easily
• Great cash back rewards with Visa card Perk
• Allows you to earn interest on crypto
• There are a lot of crypto coins and tokens available How To Transfer From Ftx To Binance
• Strong security

Cons

• User interface and the exchange itself is pretty difficult to navigate
• There are limited availability of coins.
• 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.

KuCoin is still available to its users, but most traders avoid it like the plague. Many negative reviews have been written about the exchange, with a variety of reasons. Some are semantics while others are alarming.

KuCoin Overview

KuCoin was founded in 2017 by top tech geeks Micahel Gan and Eric Don. It is a cryptocurrency exchange platform that was launched by Top Lan, Kent Li. John Lee, Jack Zhum, Linda Lin, and John Lee. The company was established 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. 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 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. How To Transfer From Ftx To Binance

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. The following are some other popular coins that can be found on the exchange platform:

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

These are only a small selection of the many options available on the exchange platform.

KuCoin Perks

• Wide range of Coins

KuCoin offers a wide range of tokens, coins and altcoins that are available for trading on their exchange. It is actually the top echelon for coins that are available on the exchange.

As such, one of its strengths is that it is easier to find smaller coins on these platforms than on other platforms. KuCoin is the ideal platform for traders looking to diversify into less-popular crypto.

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 a good thing for users and the coin, as it allows them to start using a new currency earlier.

• Low fees

KuCoin also has 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. How To Transfer From Ftx To Binance

These fees will depend on your transfer mode and the third-party app you use.

• Earn through interest on your crypto

KuCoin, like most cryptocurrency exchanges lets you make money with your crypto. In the case of KuCoin, the service is called KuCoin Earn.

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. The second way is to loan out your crypto and get paid the interest.

Your interest rate for borrowing crypto is higher than the one you would get from a savings 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. It might seem risky, but the company states that lenders will always be repaid in full.

That repayment might come from the borrower’s collateral or a KuCoin margin insurance fund.

• 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 pretty convenient as you do not always need to be online to do your business.

However, bots can pose a risk. Bots are susceptible to errors and you may lose out on many 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

The KuCoin trading experience can start either through an online portal or an Android and iOS mobile app. Each platform offers a variety of tools and features that you can use to trade on it.

After logging into your KuCoin account on mobile or desktop, you can access KuCoin’s dashboard or front page. 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.

Besides orders, users also have access to margin, futures, and P2P trading. You can stake your crypto to earn some back or get a discount on trading fees. How To Transfer From Ftx To Binance

Recently, the exchange has just added a Trading Bot feature to help simplify the whole trading process.

KuCoin is a great cryptocurrency with many advanced features. Veteran traders might find this a great benefit. They can be difficult for novice traders, as they aren’t user-friendly on mobile platforms.

KuCoin Fees

KuCoin breaks down trading fees by levels. The three main factors that determine the trading fees are: To determine the trading fee level, you have to look at the Minimum KCS Holding within the last 30 days, and the Spot trading volume last 30 days (BTC), or the Future Trading Volume within the last 30 days (BTC).

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. Paying fees with KCS will net users 20% off.

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. Just by looking at reviews of the company, you can already see a glimpse of how bad the dissatisfaction is.

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 How To Transfer From Ftx To Binance

KuCoin has also been accused of market manipulation, with some even saying their assets randomly disappeared from their accounts. This can be a very big problem, especially when we talk about assets, money, and finance.

Security is another issue.

KuCoin, a crypto exchange that is generally safe, was hacked in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. 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
• Earn interest on your crypto
• Advanced trading features
• Good customer service

Cons

• The U.S. has not granted license for this product.
• Payment methods are limited
• Can be intimidating and overwhelming for new traders
• Has limited education resources

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Binance versus Bittrex

Bittrex and Binance are two crypto exchanges with more similarities than differences. Both have similar features that users can use. Despite being similar, the two platforms have major differences.

The key difference between the two platforms is their size. While Binance boasts about the largest amount of trading volumes among the different exchanges, Bittrex aims for a more scaled-down experience.

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 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 can be found in Seattle.

In the beginning, the platform only offered crypto-to-crypto trading, but it soon introduced fiat-to-crypto trading. How To Transfer From Ftx To Binance

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 has a wide selection of cryptocurrencies and stablecoins available in 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

• A huge selection of cryptocurrency

As stated above, Bittrex has a rather sizable option of cryptocurrency available in their market. Customers looking for niche, but more risky trades will find it attractive.

• Low fees

Bittrex also offers low fees, which start at 0.35%. 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.

• Fast trading executions

Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This engine even works well despite high demand. This is a great way for investors to take advantage of volatile markets like cryptocurrency’s price fluctuations.

• 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. You can get up to 5.5% in reward. How To Transfer From Ftx To Binance

• Educational Content

We all know how arcane-ish finances in general are. 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. 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.

Although it doesn’t completely eliminate the risk of cryptocurrency, it can help users make better decisions. How To Transfer From Ftx To Binance

• Referral Program

Bittrex offers a referral program. If someone you know opens an account with Bittrex and uses your link, you’ll earn 10% on all trading commissions.

While this may not look like much. Referring a serious crypto whale can net you substantial 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. Logging in is all that’s required to access the 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 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 and Cons

Pros

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

Cons

• Mediocre and mostly unhelpful customer support
• For beginners, it can be difficult

Binance versus eToro How To Transfer From Ftx To Binance

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, however, is not. It is, in fact, a cryptocurrency broker.

Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other services. Meanwhile, a cryptocurrency broker sells crypto alongside other investment products like 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.

When RetailFX started offering commodities, indices, and stocks, 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. It added support for Ripple and Ethereum four years later. How To Transfer From Ftx To Binance

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. It was a feature that existed before the platform dabbled in the crypto industry. How To Transfer From Ftx To Binance

This allows eToro users simply to copy trades made by their favorite traders. The trade can be initiated by setting the money that the user wants to spend.

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 most cryptocurrency exchanges, eToro does not charge fees for users who want to do a debit card deposit. As such, investors can deposit fiat money via bank transfer or debit card, all for free.

That said, there is a conversion fee for non-U.S. dollar transactions, so users should remember that.

eToro Trading Experience

eToro can be used as a web-based platform or as a 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.

The top perk CopyTrading makes doing trades pretty simple and easy. It even allows users to do trades proportional to high-performing traders in the platform.

Overall, the platform offers many 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

eToro offers a refreshing view on fees. Unlike other cryptocurrency exchanges that don’t list their fees, eToro lists its fees when trading crypto.

eToro users pay a flat fee of 1% for each crypto trade. The platform refers to this 1% market fee as a bid-ask spread. It is also included in the platform’s price when users open or closes their position.

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.

This could be a problem when users transfer their coins to an external wallet. They can’t return the coins to the trading platform.

eToro Issues

It is not surprising that there have been many controversies about the platform due to its age. However, most of these do not involve the crypto market.

However, one did occur during the 2021 closing of leveraged positions. 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 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 also found itself in an unfavorable feud against Redditors from /r/wallstreetbets following the GameStop short squeeze.

eToro Pros and Cons

Pros

• An established platform
• Regulated in many jurisdictions
• CopyTrading is a unique feature that is only found in the platform.
• There’s more to it than just crypto trading.
• Transparency in the fee

Cons

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