Send Money From Binance To Gcash

binance-vs-competition

It is only a matter time before cryptocurrency becomes mainstream and is recognized everywhere. As such, marketplaces where people can buy, sell, exchange and trade digital assets have become crucial places.

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. 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. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.

In the digital world, cryptocurrency exchanges provide similar services to 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. Just as with dealing with cryptocurrencies in general, using cryptocurrency exchanges come with its own inherent risks.

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

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 can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper 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.

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

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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  Send Money From Binance To Gcash

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. 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. That said, Binance serves most countries around the globe, except for the United States, where a specific version of the platform, Binance.US, had to be established.

Binance’s popularity 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. You can even get loans, do payments, and even avail of credit cards from the service.

Cryptos Under Binance

Binance has its own tokens and cryptocurrency. There are actually two.

The first one is called BUSD. It is a stablecoin fiat-backed issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. 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.

The second is called BNB. 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.

It is currently a native token in Binance, where it powers operations. It is used to pay listing, exchange, trading fees, and other expenses users incur on the platform.

Binance Perks

  • Low Fees

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

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

  • Large Crypto Selection

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

Decentralized finance tokens (DeFi) are also available.

Some of the available currencies include:

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

There are many other options.

  • Earn Multiple Ways

Binance is a platform that allows users to make more money from their crypto assets. Customers can try to earn income via adding liquidity to pairs of tokens. 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

Binance wouldn’t be considered a crypto-exchange platform if it didn’t have trading tools.

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

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

Binance Trading Experience

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

You don’t have to trade on 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.

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. Even those who want to keep track of their trades will only need to access their trade history, which is also available on the exchange platform.

Even how they view their trading can be customized. This allows for easier comprehension of 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 fees are based on customers’ trading history, and the trading volume over the last 30 days. Another thing that will matter is the amount of BNB the user has.

Whether you are a maker or a taker will also determine how much you will get on fees. 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).

As Binance has its own native currency, the platform encourages using its payment for transactions. You get 25% off your trading fees when you use BNB to make trades. 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 and 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 99,999,999999 and at most 1,750 BNB 0.05% / 0.07%
7 Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB 0.04% / 0.06%
8 Between 2,500,000,000 and 4,999,999.999999999 with at least 4,500 BNB 0.03% / 0.05%
9 More than 5,000,000,000, and at least 5,500 BNB 0.02% / 0.04%

Binance Issues

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).

It wasn’t as bad as 2021. In fact, saying that Binance had a rough year in 2021 is an understatement.

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

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.

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

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

Binance Pros and Cons

Pros

  • Low Fees
  • Simple Access to Passive Income Opportunities
  • Wide Selection of Cryptocurrencies
  • Trading tools that are sophisticated
  • Multiple ways of Depositing Money
  • Flexible Trading Options and Order Types

Cons

  • Non-beginner friendly. For beginners, many features can be difficult to access and use.
  • Regulation issues with many countries, including major ones such as the United States, Japan and the United Kingdom.
  • Due to regulatory issues, the service is not available in the United States. Even the US-specific service, Binance U.S. (a more limited version), is unavailable in some states.
  • No built-in digital wallet available

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Binance Versus Coinbase

There are no two different cryptocurrency platforms whose approach can differ as much as Coinbase and Binance.

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 crux of the difference between Coinbase and Binance is who their main audience is and how they cater to these people.

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 started coinbase by enrolling in the Y Combinator startup incubator program, where he received a $150,000 cash infusion.

After seeing Armstrong’s Reddit post, Fred Ehrsam became his co-founder. This was back when bitcoin was worth only $6 and only known by ” a few nerds on the internet” (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.

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

Cryptos Under Coinbase

Coinbase does not have its original coin or cryptocurrency. That said, the platform does support over 100 cryptocurrencies. As the need arises, they add new cryptocurrencies regularly.

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 (UNI)
  • Litecoin (LTC)
  • Shiba Inu (SHIB)
  • Algorand (ALGO)
  • Stellar Lumens (XLM)
  • Polygon (MATIC)
  • DAI (DAI)
  • SushiSwap (SUSHI)

Coinbase Perks

  • Extensive 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.

In fact, few cryptocurrency exchanges could compete with Coinbase in terms of selection 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.

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

Advanced trading, on the other hand, offers more options such as charts and a live order list, as well as the ability to limit orders. While this option has lower fees, the trade-off is that it is less intuitive, more complex, and intimidating to new users.

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

  • 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.

Although the feature doesn’t offer much, it is still useful. Even a few crypto bits can be a blessing in this economy. Besides, whoever declines free money is always a fool. Even if the amount is not.

  • Educational Content

Coinbase’s library is an educational resource, as we have already mentioned. 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 has made it easier for users to access their accounts via a mobile app. Like the web platform, their mobile app provides user-friendly ways to buy, sell, and manage your cryptocurrency.

The Coinbase app isn’t just garbage. It is legit and has high ratings on both the Apple App Store and Google Play Store.

  • Crypto Rewards

Your Coinbase account can allow you to earn interest on many cryptocurrencies. Coinbase automatically pays interest on certain stables like USD Coin (USDC).

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. When you stake in crypto, you commit your crypto assets to support the blockchain network and verify transactions. Send Money From Binance To Gcash

You will receive certain rewards for staking cryptos. This is not possible for all cryptos. It depends on where you live and 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.

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.

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

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

This doesn’t mean veteran traders only have beginner tools to play with. For that, Coinbase offers Coinbase Pro. This platform is designed for experienced traders. Send Money From Binance To Gcash

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.

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

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

To be honest, this is where coinbase falls off from the competition. 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. 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. Send Money From Binance To Gcash

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.

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

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

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).

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.

According to a Financial Times article Visa, the credit card company, initially blamed Coinbase. 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 also participated in the first ever case of insider trading in cryptocurrency. The company’s former product manager shared information about tokens. The company provided prosecutors with the right information for an internal investigation.

Pros and cons of Coinbase

Pros

  • Easy to use and very friendly for those just starting in cryptocurrency
  • Supports a large number of cryptocurrencies
  • Offers the opportunity to earn cryptocurrency and learn about them.
  • Offers simple and advanced trading depending on user preference
  • Offerings a coinbase debit card that allows easy withdrawal of funds Send Money From Binance To Gcash

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

binance-coins-arranged-in-3-columns

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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.

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.

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. Kraken or Binance with their high security standards that won them a Wyoming bank charter approval in 2021. Send Money From Binance To Gcash

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. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”

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

Kraken was co-founded in 2011 by the aforementioned Jesse Powell, who was an alumnus of California State University, Sacramento, with Thanh Luu. It was launched in September 2013 and offered 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. Send Money From Binance To Gcash

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

It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, 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.

He was replaced as CEO by Dave Ripley.

Cryptos under Kraken

Kraken supports at least 110 cryptocurrencies. Some of the more popular and well-known currencies include:

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

Kraken supports several stablecoins, including Tether, USD Coin and Dai. A limited number of Kraken currency exchanges are also available in certain territories. You can convert US dollars into Canadian dollars, Japanese Yuen and Swiss Francs. Send Money From Binance To Gcash

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. In fact, it is the only cryptocurrency exchange that has not had any major hacking accounts.

As such, this United States-based exchange is the consistent leader in terms of security in the industry. As such, some in the industry have affiliated Kraken with physical security and financial stability. This is a claim Kraken is too proud to make.

  • A healthy range of available cryptocurrencies

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

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.

Kraken’s currencies cannot be exchanged for each other.

  • Advanced trading features

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

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

  • Fees are reasonable.

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

  • Optional Strong Staking

Kraken offers a variety of stake options. You can stake in over 15 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. Between these exchanges, Kraken Pro offers lower pricing. Anyone can access both platforms with a Kraken Account.

Kraken is a trading platform that’s geared towards intermediate-to-experienced users. The platform is accessible to beginners if they wish. It is suggested that they start with the central Kraken platform to learn the ropes. Send Money From Binance To Gcash

Kraken allows verified accounts to quickly buy cryptocurrency from linked bank accounts. 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.

It is easy to purchase cryptocurrencies with 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.

On the other hand, Kraken Pro is Kraken’s more advanced trading platform. It appears more complicated than the regular Kraken exchange. Kraken Pro is intimidating for new traders. It is well worth the effort. Send Money From Binance To Gcash

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

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

Kraken Fees

Kraken’s fees fall in the middle of the market, as we have already stated. It is not the lowest on the market and it is 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.

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.

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. Send Money From Binance To Gcash

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

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

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

Kraken Issues

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

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.

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’s main reason is that doing so would be bad for business.

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

Kraken Pros and Cons

Pros

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

Cons

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

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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. However, it does not mean that the two platforms are identical.

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

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

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. It only became Crypto.com when the company purchased a domain that cryptography researcher and professor Matt Blaze owned.

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 allows users to trade, invest, put a stake in some currency and much more.

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

Crypto.com’s primary selling point is 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. Crypto.com allows cryptocurrency to be used as 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. 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)

Cronos (CRO) is Crypto.com’s coin. A significant stake in this cryptocurrency will reward you with lower trading fees and higher stalking interest rates as well as higher credit card rewards. Send Money From Binance To Gcash

Crypto.com Perks

  • One-Stop Shop

Crypto.com has a lot going for it aside from being just a plain old trading platform. You can trade cryptocurrencies and buy and sell them on the exchange.

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 can rival that of many sites.

In fact, there are transactions within Crypto.com that do not even require any fees. One example is depositing your money into your account via an electronic bank or wire transfer.

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

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

  • Convert Your Money Easily

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. Crypto.com only supports 20 fiat currencies.

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.

Currently, Crypto.com has five types of prepaid Visa Cards available to its users. These cards must be charged before they can be used fully.

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.

For those with deeper pockets, Obsidian tier is available. 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. Send Money From Binance To Gcash

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

  • Earn Interest

Crypto.com is more than a place to purchase tokens and coins. It’s a one-stop shop that offers everything crypto. Those who have a Crypto.com account can also earn high rates of interest. 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%.

You can get a rate of interest depending on many factors, including the time you spend with your money, how much currency you have saved, and how much CRO you stake.

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. While one-month terms are more flexible than three-month terms, deposits for three-month terms yield better rates.

Lastly, investing in stablecoin also increases 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. That also means they are also less likely to depreciate in value.

In the end, keeping your savings in crypto is still risky. Cryptocurrencies can be volatile and your savings could be cut if they fail.

  • Gift cards and phone top ups

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

Crypto.com sells gift cards from well-known brands in a variety of industries, including hotels, general retail, gaming, education, and entertainment from at least 41 different countries. You can also find gift cards from the United Arab Emirates, Norway, Singapore and Spain.

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

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

Crypto.com Trading Experience

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

The app in question shows the user’s portfolio and a list of their more popular assets. It offers everything that Crypto.com claims it can. With it, you can trade currencies, earn through staking in crypto, make payments with cryptocurrency, and even sign up for a Crypto.com credit card.

Without chart tools, where would you find a trading app? In the case of Crypto.com’s app, it shares a relatively simple set of data that aims not to intimidate or overwhelm the 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

Crypto.com’s trading fees are very competitive. In fact, they are among those who offer the lowest trading fees in the market. Trade volume can be higher and qualify for lower fees, as low as 0.4% for makers or 0.1% for takers. This is even with no CRO.

Discounted trading fees have become available when users hold at least 5,000 CRO in their wallet. Higher stakes result in lower rates.

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

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

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

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

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

As said, the higher your CRO stakes are the bigger your discounts. Maker fees for those with stakes greater than or equal to 50,000 CRO become zero. Those who have even more may even enjoy rebates.

Crypto.com Issues

Like most cryptocurrency exchanges, Crypto.com does have its fair share of problems.

On January 2022, Crypto.com was the victim of a serious hack. According to reports, the company had lost US$15 Million worth of Ether. This was after some users reported suspicious activity on their accounts. 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.

Most of the problems with Crypto.com were due to the downturn of cryptocurrency in general. Crypto.com was forced to lay off hundreds of employees that had been working since May. In October 2022 alone, it was reported that the company had to lay off at least 30% to 40% of its staff.

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

Crypto.com Pros and Cons

Pros

  • Competitively Low fees
  • Provides lots of avenues for paying with crypto
  • Convert money quickly
  • 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 Send Money From Binance To Gcash
  • 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 lack of educational resources.

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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).

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

KuCoin started because of MichaelGan’s eagerness to learn about blockchain and its application possibilities. He discovered Bitcoin from his boss, Eric, and started getting in on the action.

He was shocked to discover that some of the largest cryptocurrency exchanges at that time were difficult to use for beginners. 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.

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. In fact, it is one of KuCoin’s strongest aspects that the platform is a goldmine for altcoins and tokens. Send Money From Binance To Gcash

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 also has it’s token, simply called KuCoin Token (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)

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

KuCoin Perks

  • A 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.

As such, one of its strengths is that it is easier to find smaller coins on these platforms than on other 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 a good thing for users and the coin, as it allows them to start using a new currency earlier.

  • Low Fees

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

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

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

  • Earn Through Interest on Your Crypto

Like most cryptocurrency exchanges, KuCoin lets you earn money through your deposited crypto. 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 uses this money to finance margin trading. 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 offers veteran users a variety of toys and additional features. 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 means that you don’t have to buy and sell your cryptocurrency yourself. Rather, you can have a computer do that for you. This is very convenient because you don’t always have to be online in order to run 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.

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

KuCoin Trading Experience

The KuCoin trading experience can start either through an online portal or an Android and iOS mobile app. 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. Users can view markets, trade, buy, lend, or trade cryptos from there.

The platform supports four order types. These include market order, limit or stop-limit orders, and stop-market orders.

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. Send Money From Binance To Gcash

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

Overall, KuCoin has plenty of advanced features. This might be a boon to veteran traders. However, they might be a nightmare for beginners as desktop, and mobile platforms are not user-friendly.

KuCoin Fees

KuCoin breaks down trading fees by levels. These trading fees will mostly depend on 3 factors. 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 determine how much you’ll have to pay for taker or maker fees. Spot trading fees will be charged based on the base currency of the trading pairs. KCS users will receive 20% off for paying fees.

KuCoins also has a 24-hour withdrawal limit.

Trading Fee level 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. Many of the negative reviews focus on customer service, withdrawals, or even deposits. Send Money From Binance To Gcash

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

Then there is an issue of security.

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

KuCoin Pros and Con

Pros

  • Low fees
  • Strong user base
  • Large range of coins
  • 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

coins-on-paper

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Binance versus Bittrex

Bittrex is a crypto exchange that has more similarities than differences than Binance. Both have similar features that users can use. Despite being similar, the two platforms have major differences.

One key difference between these two platforms has to do with 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 can be found in Seattle.

The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. Send Money From Binance To Gcash

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

As stated above, Bittrex has a rather sizable option of cryptocurrency available in their market. This makes it pretty attractive for customers looking for new, more niche but riskier trades.

  • Low fees

Bittrex also offers low fees, which start at 0.35%. This can get lower depending on the trade volume. That said, it is not the lowest available in the market. Some exchanges have lower fees compared to them.

  • 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

Cardano (ADA), cryptocurrency holders would be thrilled to have this platform. Bittrex lets users stake their Cardano cryptocurrency throughout the exchange. You can get up to 5.5% in reward. Send Money From Binance To Gcash

  • Educational Content

We all know how arcane-ish finances in general are. So by association, cryptocurrency is just as mind-boggling and arcane. So anything that offers a way to educate yourself on the topic is a godsend.

Bittrex has an impressive library of educational resources available in its Discover section. Here, users will find articles and references for various crypto topics. You will find references and lessons on topics that range from crypto taxes to crypto mining.

You can even see a breakdown of some of these cryptocurrencies on the platform, which will give you an idea about what you’re betting on and whether it is worth your time.

Although it doesn’t completely eliminate the risk of cryptocurrency, it can help users make better decisions. Send Money From Binance To Gcash

  • 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. Of course, it is accessible via a mobile app or desktop computer.

The desktop interface offers a simple “instantbuy/sell” option. This allows users to quickly trade or buy crypto using a debit card, bank account or Bittrex account balance.

Users can also benefit from a real-time view of the markets available on the platform. Users also have the option to place more complex orders. You can also choose from 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. These fees are generally quite low, but not the lowest on 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. 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
  • A wide range of cryptocurrency available
  • Fairly low fees
  • Advanced trading tools
  • Very useful educational content

Cons

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

Binance versus eToro Send Money From Binance To Gcash

eToro and Binance are two pretty famous cryptocurrency platforms. They are both very well-known and have a strong market presence.

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

Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other services. 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. Rather, the Tel Aviv-based company was originally an online forex broker under the name RetailFX. This was back in 2007.

When RetailFX started offering commodities, indices, and stocks, it changed its name to eToro. Later, it launched its innovative social trading feature that allowed users to copy trades of successful traders on the platform.

eToro only got involved in the crypto market when it added support for BTC in 2014. This enabled users to buy and sell CFDs (to non-U.S. users). On the world’s leading digital currency. Four years later, it also added support for Ripple (XRP) and Ethereum (ETH). Send Money From Binance To Gcash

Also, in 2018, eToro went full steam on the crypto industry. More coins and currencies were added to the platform. The company even launched its digital asset platform, eToroX, and even its crypto wallet.

Cryptos under eToro

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

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

eToro Perks

  • CopyTrader

The CopyTrader is eToro’s signature feature. It was a feature that existed before the platform dabbled in the crypto industry. Send Money From Binance To Gcash

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

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

It is completely free, which is quite surprising. This feature requires a fee, but it can be used as often as the user wishes.

  • 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.

  • Fee Debit card deposits

Unlike most cryptocurrency exchanges, eToro does not charge fees for users who want to do a debit card deposit. Investors can deposit fiat money using a bank transfer or debit card for no additional fees.

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.

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.

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. You can even trade with high-performing traders on the platform.

Overall, the platform offers many basic market and limit orders. It does not offer advanced charting and conditional orders.

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

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

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

eToro Fees

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

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

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

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. 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. 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

  • An established platform
  • Regulated in numerous jurisdictions
  • CopyTrading, a unique feature only available on the platform, is an exclusive feature.
  • Has more to offer outside of 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 are a few cryptocurrencies available.
  • The 1% fee is quite high in comparison to other fees.
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