It is only a matter time before cryptocurrency becomes mainstream and is recognized everywhere. Marketplaces that allow people to trade, buy, and sell digital assets are becoming crucial.
To address this market demand, cryptocurrency exchanges were created.
A cryptocurrency exchange, by definition, is an online platform where users can trade one type of digital asset for the other. These exchanges will be based on the market value of the given assets.
In the real world, banks are financial institutions that are licensed to receive deposits, transfer funds, and store money for their clients. The banks regulate money. They are the only legal institution that can offer customers the ability to exchange fiat currencies for another.
Stock brokers can trade securities and stocks on a stock exchange. 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.
There are still people who treat cryptocurrency with fear and anxiety. Some people view cryptocurrency and cryptocurrency exchanges as illegal online marketplaces.
These people believe these places could facilitate the trading of unregistered securities. They fear that crypto exchanges could be used by criminals to launder money, and they have limited AML/KYC capabilities to evade the law.
Of course, some of these claims are not entirely unfounded. Just as with dealing with cryptocurrencies in general, using cryptocurrency exchanges come with its own inherent risks.
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. This is especially true if these founders are scammers or hustlers who excel at what they do.
It is important to remember that cryptocurrency and any other related technology are always a risky business. It is smart to always proceed with caution. Like with gambling, there are more chances of losing than winning. High-risk, high-reward.
If you prefer to see the experience in a more visual way, Mark Farfan’s YouTube video review is for you. You can still check our article below for a complete overview of Binance. It also compares it with some other competitors.
Binance Exchange Binance Dogecoin Listing
Binance Overview
Binance exchange is the largest cryptocurrency exchange in the world. It has the highest trading volume of any crypto exchange service and offers the most number of cryptocurrency trading pairs.
Binance was founded in 2017 by Chinese-Canadian entrepreneur and business executive Changpeng Zhao. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
The company didn’t have a place to call home back then.
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 among its users is due to its low fees, large selection of cryptocurrencies available, and innovative products. Binance has many products that are based upon cryptocurrency.
These products/services offer the opportunity to earn, trade, stake, derive and NFTs. 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. In fact, there are two.
The BUSD is the first. It is a stablecoin fiat-backed issued by Binance and Paxos. This stablecoin token is backed 1:1 by US dollars in reserve. BUSD was created by the company to offer a stable alternative to the volatile digital asset market.
BNB is the second. Formerly called Binance Coin, it was launched in 2017 through an initial coin offering (ICO) as an asset for users when Binance was still in its infancy. It began as an ERC-20 standard token built on the Ethereum blockchain.
It is currently a native token in Binance, where it powers 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 can be done for free. The platform charges a maker/taker fee. The trading volume and Binance Coin balance will determine the fees.
Despite this, fees are still charged by the platform for certain services, including withdrawals and payment types.
- Large Crypto Selection
The number of cryptocurrencies on the market will determine how good a crypto exchange platform is. Binance is the largest crypto exchange platform. This means that it has a lot of digital currencies.
Decentralized finance tokens (DeFi) are also available.
Some of the currencies available include:
- Binance Coins (BNB)
- VeChain (VET)
- VeThor (VTHO)
- Harmon (ONE)
- Matic Network (MATIC)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Cosmos (ATOM)
- Cardano (ADA)
There are many other options.
- Multiple ways to Earn
Binance is a platform that allows users to make more money from their crypto assets. Customers can earn income by adding liquidity to token pairs. There are also staking options 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.
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. 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. Rather, you can use Binance however you want. 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. 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 fees are based on customers’ trading history, and the trading volume over the last 30 days. The amount of BNB that the user has will also be important.
Whether you are a maker or a taker will also determine how much you will get on fees. 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).
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 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 | 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 | 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).
It wasn’t as bad as 2021. It’s not true to say that Binance had a difficult year in 2021.
The United States Department of Justice and Internal Revenue Service, on allegations of money laundering and tax offenses, investigated the company.
It also had to cancel the planned launch of its own digital asset marketplace in Britain. This was due to their application not meeting the anti-money laundering requirements set by their government.
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. As soon as the issue was discovered, it was resolved.
From the total $570m stolen, approximately $100m of funds were not recovered.
Binance Pros & Cons
Pros
- Low Fees
- Easy Access to Passive Income Opportunities
- Wide Selection of Cryptocurrencies
- Sophisticated trading tools
- There are many ways to deposit money
- Flexible Trading Options and Order Types
Cons
- Non-beginner friendly. Many features can be overwhelming for beginners to use and access
- Regulation issues with many countries, including major ones such as the United States, Japan and the United Kingdom.
- Not available in the United States because of regulatory issues. The US-specific service Binance U.S., which is a limited version of the service, is not available in all states.
- No built-in digital wallet available
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Coinbase Versus Binance
There are two cryptocurrency platforms that can be used, and they have different approaches. Coinbase and Binance are the best examples.
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. The company used to have its headquarters in San Francisco. However, this palace was demolished and the company moved to remote-first.
Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. He started coinbase by enrolling in the Y Combinator startup incubator program, where he received a $150,000 cash infusion.
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. They both shared a confident view that bitcoin will be very big. As such, they wanted to bring crypto to the mainstream and make it easy to use. This was the impetus behind Coinbase.
While Coinbase now sits among the pantheon as the biggest crypto exchange in the United States and one of the biggest worldwide, its beginnings were not glamorous. Coinbase was actually founded in a shared two-bedroom apartment. Binance Dogecoin Listing
Cryptos Under Coinbase
Coinbase does not have its original coin or cryptocurrency. The platform supports 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
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- DAI (DAI)
- SushiSwap (SUSHI)
Coinbase Perks
- A wide selection of cryptocurrency
Coinbase is the largest cryptocurrency exchange in America. This is because of the vast and varied cryptocurrencies available in the market.
From a Bitcoin (BTC) focused exchange. Coinbase has grown to offer over 150 types of cryptocurrency on the platform. In fact, you can trade currencies like Bitcoin (BTC) and other major coins for smaller and newer digital tokens.
Coinbase is the only cryptocurrency exchange that offers a wide selection of products in the U.S. market.
- Simple and advanced trading
Coinbase offers two trading tools to make it easier for users to access their accounts. Users can choose between a simple trade option or an advanced trading option.
Simple trading options are easy to use for beginners. This option has one drawback: it charges higher fees. This is contrary to the crypto investing philosophy of keeping fees low.
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.
- Earn Free Crypto
Coinbase offers a cool feature to help customers earn more cryptocurrency. Coinbase Earn is Coinbase’s feature that lets users earn free crypto in exchange for learning more.
It is encouraged that users read more about cryptocurrency through educational modules. Once they have completed one module, coinsbase will allow them to earn more.
While the feature does not give much, it still doesn’t hurt. Even a few crypto bits can be a blessing in this economy. Besides, whoever declines free money is always a fool. Even if that amount is
- 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. It is for this reason that Coinbase is the ideal platform for those just starting to invest in crypto.
- Mobile App
Coinbase up its accessibility factor by allowing users to access their accounts with a mobile app. Their mobile app, which is similar to the web platform, allows users to manage, buy, and sell 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 Reward
Your Coinbase account can allow you to earn interest on many cryptocurrencies. 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 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. Binance Dogecoin Listing
You will receive certain rewards for staking cryptos. Of course, not all cryptos are eligible for this. 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.
If you have a Coinbase account, you can apply for a Coinbase card, a prepaid Visa debit card linked to your Coinbase account 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. This rewards program allows you to choose the crypto that you want from a rotating list.
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 linked to their original goal of “making 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. Coinbase Pro is the perfect platform for you. A platform that is specialized for seasoned traders. Binance Dogecoin Listing
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 can help them create more informed decisions when moving their positions and doing their trades.
Although it states pro on the can, that doesn’t necessarily mean users will need to pay a fee for 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
Coinbase doesn’t disclose their fees and pricing. Their entire fee schedule was removed from the online help section. That said, this doesn’t mean you will pay your fees blindly. 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 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.
- Lastly, Coinbase also charges fees to cover the costs of executing transactions on the external blockchain networks that support the cryptocurrencies in which it deals. Binance Dogecoin Listing
Coinbase Pro’s pricing structure is simpler. It is based on the customer’s monthly trading volume and liquidity of the asset at the time of purchase. Also, Coinbase pro users are required to make deposits and withdrawals through a bank account.
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 |
| $50 to $200 | $2.99 |
Trades above $200 have a percentage-based fee rather than a flat fee.
For Coinbase Pro, a general idea of the fees is shown in the chart below.
| Pricing Tier | Taker Fee | Maker Fee |
| Up to $10K | 0.60% | 0.40% |
| $10K – $50K | 0.40% | 0.25% |
| $50K – $100K | 0.25% | 0.15% |
| $100K – $1M | 0.20% | 0.10% |
| $1M – $15M | 0.18% | 0.08% |
| $15M – $75M | 0.16% | 0.06% |
| $75M – $250M | 0.12% | 0.03% |
| $250M – $400M | 0.08% | 0.00% |
| $400M+ | 0.05% | 0.00% |
Coinbase Issues
There is a good chance that cryptocurrency will be a legal issue because it is still a new area of technology.
Coinbase acknowledged that customers were being charged more for cryptocurrencies they purchased with debit and credit cards than they originally intended. This was due to problems that started when banks and card issuers charged the merchant category code (MCC) of crypto purchases earlier that month.
This was due to the fact that cryptocurrency payments were classified as “cash advances”, and banks and credit card issuers may begin charging cash advance fees for these purchases.
In a Financial Times article, Visa, the credit card company, blamed Coinbase at first. However, it later rescinded those statements and clarified on the Coinbase blog that the “issue was not caused by Coinbase”
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. A former product manager of the company as he shared information about certain tokens listed by the company. 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
- Supports a large number of cryptocurrencies
- Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
- Offers simple and advanced trading depending on user preference
- Offerings a coinbase debit card that allows easy withdrawal of funds Binance Dogecoin Listing
Cons
- Complex and convoluted fee structure that is also not transparent
- High fees on some transactions
- There are limited staking opportunities and interest possibilities.
- There are a bunch of altcoins missing from their selection
- Customer service issues
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Binance or Kraken?
Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. It might seem that there is a big gap between these two platforms if we compare their ranks (Binance at the top and Kraken at the bottom), but there are more to it.
For example, US-based Binance users are severely hampered by the fact that they can only access Binance’s U.S. platform (Binance.US.) Kraken, however, is readily available in the country.
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. Binance Dogecoin Listing
Kraken Overview
Kraken is a fully functioning crypto exchange that offers low fees and a wide selection of tokens and coins. One of the most defining characteristics of this platform is that it is one of the only U.S. crypto exchanges to provide advanced trading tools like 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.”
Jesse Powell, Kraken’s founder and former CEO, tweeted that the November 2022 FTX Controversy was a “”…Happy life, pay a fee for matching trades” A balance sheet is mostly Bitcoin, some ETH.
Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. It was launched in September 2013 and offered bitcoin, Litecoin and euro trades. Additional currencies and margin trading were to follow.
Powell started working on Kraken to replace Mt.Gox (another bitcoin exchange, based in Shibuya Tokyo, Japan). Before its 2014 collapse due to failed security audits, Powell was a consultant to the exchange.
Kraken also joined with other US Bitcoin players in the formation of the “Committee for the Establishment of the Digital Asset Transfer Authority”, the industry’s selfregulating group. Binance Dogecoin Listing
Kraken was very successful in 2014. The company received a Series A investment of $ 5,000,000 from Hummingbird Ventures in March 2014.
Later, it became one of the first bitcoin exchanges to be listed on Bloomberg Terminal. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, CEO Powell’s former employer. Because of its track record of being secure, Kraken is trusted.
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.
Chief Executive Officer Powell resigned as CEO of the platform on September 21st, 2022. He said that he had spent more time on the product, the user experience and industry advocacy.
He was replaced as CEO by Dave Ripley.
Cryptos under Kraken
Kraken supports at most 110 cryptocurrencies. The most well-known and popular currencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- Uniswap (UNI)
Kraken supports several stablecoins, including Tether, USD Coin and Dai. Kraken also has a limited currency exchange that is available in select territories. This includes converting US dollars into Canadian dollars, Japanese yen, and Swiss francs. Binance Dogecoin Listing
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.
This exchange, which is based in the United States, is the industry’s leader in terms security. As such, some in the industry have affiliated Kraken with physical security and financial stability. A claim that the company is just too happy to boast about
- Healthy Range of Available Cryptocurrencies
Kraken has over 160 coins and seven fiat currencies available to trade on its platform. It’s not the largest amount but it’s still quite healthy and comparable to the top crypto exchanges. Binance Dogecoin Listing
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.
Kraken would use dollars to buy Bitcoin, and vice versa. If you are using dollars to buy Bitcoin and then Bitcoin to buy Ethereum, you will always be swapping one currency for another.
In the case of Kraken, not all of its currencies are exchangeable for the others.
- Advanced trading features
Kraken is one of the few exchanges offering margin, stop orders, and crypto short sales. Kraken also offers a dark pool, where high volume investors can trade anonymously.
Kraken allows you to leverage a currency pair by up to 5x. Some eligible pro clients can access up to $500,000 in the margin. Margin trading is still risky.
- The fees are affordable.
Although it’s not the most expensive on the market, Kraken’s fees remain competitive and comparable to other exchanges. It’s even less expensive than other exchanges.
There are no fixed trading fees. They will vary from one exchange to the next. Your monthly trade history will determine how much you pay. While we will talk about fees in depth in another segment, it is important to know that fees are higher when using the instant buy feature rather than the pro platform.
- Strong Staking Options
Staking options within Kraken are pretty good. Users have the opportunity to stake over 15 different cryptos. They can earn between 0.25% and upwards of 20%.
Staking refers to the act of holding your coins in order to make a contribution to the security of a specific blockchain. It can be a great way to passively earn an income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. Between these exchanges, Kraken Pro offers lower pricing. Both platforms are available to anyone with a Kraken account.
Kraken is a trading platform geared toward intermediate to veteran users in mind. The platform is accessible to beginners if they wish. To learn the ropes, it is recommended that they begin with the Kraken central platform. Binance Dogecoin Listing
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. 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. 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. As such, you will need your device to log in to your account.
On the other hand, Kraken Pro is Kraken’s more advanced trading platform. At first glance, it has a more complex interface than the regular Kraken exchange. Kraken Pro is intimidating for new traders. However, it is worth learning. Binance Dogecoin Listing
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. 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
As stated above, Kraken’s fees are in the competitive middle. 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.
Prices and fees may vary depending on the platform. Kraken Pro will always be cheaper than regular Kraken.
Fees for instant purchases are 1.5% for most cryptos and 0.9% for stablecoins that use the U.S. Dollar or another stablecoin.
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. Binance Dogecoin Listing
Meanwhile, Kraken Pro’s pricing is pretty different. The fees for Kraken Pro are generally lower than those on the main Kraken platform. Your fees will also be based on your total trading volume over the last 30 days. Another fee to remember is that most transactions are subject to a 0.26% taker fee or 0.16% maker fee.
Below is a chart showing their maker-taker fees for a volume of 30 days in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
There really are not many issues concerning Kraken aside from disagreement with a work culture which is something the company has already worked on and moved on
On the security side, Kraken has lived up to customer expectations and has proven itself with being the only major cryptocurrency exchange that has not been a victim of a major hack.
Kraken does have its share of problems with government regulations.
Kraken refused to cooperate with an investigation by New York Attorney General’s Office in April 2018 on questions about crypto exchanges’ measures to protect customers from market manipulation and money laundering.
Kraken’s main reason is that doing so would be bad for business.
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 and Cons
Pros
- Advanced features such as margin trading and stakestaking are available.
- Excellent and reliable customer service
- Relatively low Bitcoin withdrawal fees (BTC).
- Provides a wide range of educational material.
- Most secure exchange in the market
- Simple user interface
Cons
- Base Kraken platform has pretty expensive fees compared to the Kraken Pro version. Both modes can be accessed as long you have a Kraken account.
- Kraken accepts only a handful of fiat currencies
- Some users have complained about having their accounts hacked. Binance Dogecoin Listing
- 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. Plenty of factors are at play for why one is ranked higher than the other.
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. Binance Dogecoin Listing
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. 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.
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)
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. Binance Dogecoin Listing
Crypto.com Perks
- One-Stop Shop
Crypto.com is more than a trading platform. You can trade cryptocurrencies and buy and sell them on the exchange.
Most importantly, Crypto.com allows you to spend your hard-earned crypto through a prepaid Visa card. Basically, Crypto.com puts weight on the currency part of cryptocurrency.
- Low fees
Crypto.com’s low fees can rival that of many sites.
There are many transactions on Crypto.com that don’t require fees. You can deposit your money via wire transfer or electronic bank to your account.
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.”
That said, the platform does charge you a fee for crypto purchases made with a credit card or a debit card. Payments made with a debit card or credit card might also be subject to a cash advance fee for crypto purchases.
- Convert Your Money Easily
While this is not a feature unique to Crypto.com, it bears being listed here. Users can convert fiat currencies to crypto with the Crypto.com app. Crypto.com only supports 20 fiat currencies.
These fiat currencies include USD, GBP, and EUR, among others. But, just because a fiat currency is listed on Crypto.com, does not necessarily mean it will be available for you to trade. You will be limited in your ability to trade certain fiat currencies due to the country you live in.
- Cashback cards
One of the best perks you can get as a member of Crypto.com com is the availability of Visa Cards connected to your Crypto.com account and its crypto currency.
Crypto.com currently offers five types of prepaid Visa cards to its customers. Granted, these cards will need to be topped up before one can fully utilize their uses.
Your CRO stake in the platform will determine which Card you can get.
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. To be eligible, you must have at least $400 in stake.
Meanwhile, those who own deeper pockets can avail of their top-of-the-line, Obsidian tier. This tier earns you 5% cash back or cryptoback, as well as lots of bonuses. That said, you must have at least $400,000 worth of stake for CRO to qualify for this. Binance Dogecoin Listing
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
As a one-stop shop for everything crypto, Crypto.com isn’t just a place to buy coins and tokens. 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.
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.
The app allows you to increase your interest rate in many ways. One way is to stake more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.
If you make a deposit for a term of one month or more, the interest rate can be increased to 3 months. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins usually peg their values to an external reference. Some can even be tied to the U.S. Dollar. These stablecoins can help you earn more interest.
That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. They are less likely to lose value.
It is risky to keep your crypto savings. Cryptocurrencies 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. Buy gift cards from popular brands to earn cash back benefits.
Crypto.com offers gift cards from popular brands covering different industries like hotels, general retail, games, airlines, education, and even entertainment from at least 41 countries. 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
When using Crypto.com, your trades will mostly revolve around its mobile app, which serves as the platform’s central hub. For those who have been trading stocks on their phone or tablet before, the experience will be easy and similar to what you would expect. Binance Dogecoin Listing
This app shows the user their portfolio and lists of their most 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. The charts just contain enough information needed for users to learn how the blockchain and the currency work, something they might need before buying.
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 in multiple countries to purchase and get into 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.
Users who have at least 5,000 CRO in their bank account can get discounted trading fees. Rates go lower with larger stakes.
However, Crypto.com users who are newer than 25 000 USD will be charged 0.4% for trades that have a monthly volume less than $25,000.
Below is a table showing fees for spot and margin trades for customers with no CRO stake amount.
| 30-Day Spot Trading Volume (USD) | Maker | Taker |
| Below 250,000 | 0.0750% | 0.750% |
| Greater than or equal to 250,000 | 0.0700% | 0.0720% |
| More than 1,000,000 or equal | 0.0650% | 0.0690% |
| Greater than or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than 10,000,000 or equal to 10,000,000 | 0% | 0.0500% |
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 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
Crypto.com, like most cryptocurrency exchanges has its 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. After users reported suspicious activity to their accounts, the company lost US$15 million worth of Ether. The company immediately halted withdrawals, which were then restored. The company 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.
Their exchange token Cronos (CRO), lost $1 billion in value between November 2022 and November 2022. This was due in part to the collapse of FTX. Crypto.com CEO Marszalek reassured that the exchange was operating normally.
Crypto.com Cons and Pros
Pros
- Very low fees
- Provides lots of avenues for paying 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 Binance Dogecoin Listing
- 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
Comparing KuCoin to Binance side-by-side, it is clear who the winner is. It is Binance, and that is by a lot. KuCoin, despite being one of the earliest platforms for trading cryptocurrencies, has been left in the dust by the likes of Kraken and FTX (at least before they went bankrupt).
As of today, while KuCoin still has its users and most traders generally avoid the platform like the plague. 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 was founded by MichaelGan, who was eager to learn more about blockchain and the potential applications. Eric was his boss and he told him about Bitcoin. He then got involved in the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto 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
It is not surprising that the exchange is an older cryptocurrency exchange platform. This means there are a lot of cryptocurrencies that you can trade and buy.
Veteran traders looking for a wide selection of assets may appreciate this extensive selection of coins and tokens. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. Binance Dogecoin Listing
This was also the reason why the company was started in the first place: to make less mainstream currencies more prominent and to allow people to access them.
These lesser-known coins are riskier than the more stable and popular 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)
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
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. 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. They even have a Spotlight section that 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. However, depositing fiat money such as U.S. Dollars will require you to pay an additional fee. Binance Dogecoin Listing
These fees will depend on your transfer mode and the third-party app 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. You can first take your coins through Pool-X which is backed by KuCoin. You can also lend your crypto to get 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.
According to the exchange, you can earn up to 8% to 12% on average from this way. 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 also allows the use of trading bots in its mobile app. This means that you don’t have to buy and sell your cryptocurrency yourself. 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.
That said, using bots can be pretty risky. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.
The convenience bots offer may not be worth the uncertainty about how they handle your assets.
KuCoin Trading Experience
KuCoin can be accessed online or via an Android and iOS mobile application. Both have an abundance of features and tools which you can use when doing trades on the platform.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. From there, users can do whatever they want, from viewing markets, buying, trading, and lending crypto, as well as many other activities.
In the case of order types, the platform supports four. These 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. Binance Dogecoin Listing
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. 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
When it comes to trading fees, KuCoin divides their rates by levels. The three main factors that determine the trading fees are: The minimum KCS holding within the past 30 days and the spot trading volume within the last 30 day (BTC) are the key factors in determining the trading fees.
Below is a table that shows which trading level corresponds to which.
| Trading Fee Level | Min KCS Holding last 30 Days | Spot Trading Volume Last 30 Days (BTC) | Futures Trading Volume Last 30 Days (BTC) |
| LV0 | 0 | <50 | <200 |
| LV1 | 1000 | >=50 | >=200 |
| LV2 | 10000 | >=200 | >=400 |
| LV3 | 20000 | >=500 | >=1000 |
| LV4 | 30000 | >=1000 | >=2000 |
| LV5 | 40000 | >=2000 | >=3000 |
| LV6 | 50000 | >=4000 | >=6000 |
| LV7 | 60000 | >=8000 | >=12000 |
| LV8 | 70000 | >=15000 | >=20000 |
| LV9 | 80000 | >=25000 | >=40000 |
| LV10 | 90000 | >=40000 | >=80000 |
| LV11 | 100000 | >=60000 | >=120000 |
| LV12 | 150000 | >=80000 | >=160000 |
These levels will then decide how much you will have to pay in maker or taker fees. Spot trading fees are charged in accordance with the base currency for the trading pairs. KCS users will receive 20% off for paying fees.
Also, KuCoins has a 24h withdrawal limit.
| Trading Fee level | Maker/Taker | 24-hour 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
To be honest, KuCoin does not have the best reputation in the industry. You can see the extent of dissatisfaction by just looking at the reviews.
Trustpilot reviews gave it an average rating of 1.7 stars out 600 reviews. Many of the negative reviews focus on customer service, withdrawals, or even deposits. Binance Dogecoin Listing
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.
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 concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Con
Pros
- Low fees
- Strong user base
- Large range of coins
- Earn interest on your crypto
- Advanced trading features
- Good customer service
Cons
- 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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Bittrex versus Binance
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. 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 co-founded by three Amazon cybersecurity engineers: Bill Shihara (co-founder and CEO); Richie Lai (co-founder and chief information officer); and Rami Kawach (co-founder and chief tech officer). Its headquarters are located in Seattle.
The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. Binance Dogecoin Listing
Despite the newness of their fiat trading, they still offer a wide selection of cryptocurrencies and stablecoins. They are also available in 46 states of the United States, except Hawaii, New York, Vermont, and Vermont.
Cryptos under Bittrex
Bittrex offers a variety of stablecoins and cryptocurrencies on their exchange. Like most exchanges, this variety makes platforms very enticing to traders.
They include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (Link)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Tether (USDT)
- Polygon (MATIC)
Bittrex Perks
- 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%. 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. Investors would love this as it allows them to capitalize on the many price movements that happen in a volatile market such as cryptocurrency.
- Cardano staking
Those who hold some Cardano (ADA) cryptocurrency would be overjoyed with this platform. Bittrex lets users stake their Cardano cryptocurrency throughout the exchange. You can get up to 5.5% in reward. Binance Dogecoin Listing
- 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. There are references and lessons for topics ranging from crypto taxes to how crypto mining works.
They even have a breakdown of some of the cryptocurrencies available on the platform to give you an idea of what you are betting on and whether one is a good investment.
Although it doesn’t completely eliminate the risk of cryptocurrency, it can help users make better decisions. Binance Dogecoin Listing
- 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. Although unreliable, it is a good and less risky way to passively earn crypto income.
Bittrex Trading Experience
Bittrex trading is simple and straightforward. Logging in is all that’s required to access the trading dashboard. Of course, it is accessible via a mobile app or desktop computer.
In the desktop interface, users have a simple “instant buy Buy/Sell” option. This option lets users quickly make trades or purchase crypto with a debit card, bank account, or Bittrex account balance.
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. Overall, these fees are pretty low but are not the lowest available in the market.
| 30-Day Volume (USD) | Maker | Taker |
| Less than $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| $100,000 – $1 million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 Million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has been on the receiving end of negative reviews from its users. Most of these issues stem from account lockouts, frozen assets, and problems with identity verification. Most of these problems are common across many crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros & Cons
Pros
- High security
- Extensive selection of available cryptocurrency
- Very low fees
- Advanced trading tools
- Pretty helpful educational content
Cons
- Customer support is mediocre and often unhelpful
- For beginners, it can be difficult
Binance versus eToro Binance Dogecoin Listing
eToro and Binance are two pretty famous cryptocurrency platforms. They are both very well-known and have a strong market presence.
But there is one thing that separates them. They are two 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. A cryptocurrency broker also sells crypto along with other investment products such as stocks and fractional shares.
eToro Overview
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. The Tel Aviv-based company was actually an online forex broker originally under 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. It added support for Ripple and Ethereum four years later. Binance Dogecoin Listing
In 2018, eToro also made a big push in the crypto market. 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. Binance Dogecoin Listing
This basically allows eToro users to copy trades done by their favorite traders with just one click. 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. This feature requires a fee, but it can be used as often as the user wishes.
- Invest more than just crypto.
Since the platform started in foreign exchange, it was to be expected that new users could still get in on that action.
eToro is one of the few places on the internet that allows you to own cryptocurrency and stocks in one account. The platform also offers stock trading at zero commissions and the possibility to purchase fractional shares.
Even for people who want to test out stock investing, eToro offers a virtual brokerage account that lets you simulate owning stocks without putting 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.
That said, there is a conversion fee for non-U.S. dollar transactions, so users should remember that.
eToro Trading Experience
eToro is available as a simple web-based platform and a well-designed mobile app.
It is easy to get started on the platform by depositing fiat currency using a bank account or debit card. Once they have done that, they can trade instantly.
A trading tab provides an intuitive view of the current prices, buys, sales, and 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.
The platform provides basic market and limit orders. However, it lacks some of the more advanced conditional orders and more advanced charting capabilities.
Also, the lack of cryptocurrency choices limits the cryptocurrency fairs the platform can offer.
It’s also eToroX – the digital asset platform that is the most prominent.
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. The platform refers to this 1% market fee as a bid-ask spread. This fee is charged when users close or open positions.
However, many users don’t like the fact that eToro charges a fee for each round trip. This is 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. As they can no longer return them to the trading platform.
eToro Issues
It is not surprising that there have been many controversies about the platform due to its age. Most of these do NOT involve the cryptocurrency market.
One that does, though, happened during the 2021 closure of leveraged position. The following was notified to European clients of the platform in the early part of that year:
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 was also in a feud with Redditors of /r/wallstreetbets after the GameStop short squeeze.
eToro Pros and Cons
Pros
- A platform that is already established
- Regulated in many jurisdictions
- CopyTrading, a unique feature only available on the platform, is an exclusive feature.
- There’s more to it than just crypto trading.
- Fee is transparent
Cons
- Stock, ETF, and cryptocurrency trading only available in 44 U.S. states
- Margin trading not available to U.S. users
- There are a few cryptocurrencies available.
- 1% fee is pretty high compared to others.