With cryptocurrency going mainstream and getting legitimized here and there, it is only a matter of time before a huge population wants to get in on the action. As such, marketplaces where people can buy, sell, exchange and trade digital assets have become crucial places.
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.
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. As such, stock exchanges are basically marketplaces where stock buyers and sellers do their business.
The digital world offers cryptocurrency exchanges similar services as banks and stock exchanges.
There are still people who treat cryptocurrency with fear and anxiety. Some people view cryptocurrency and cryptocurrency exchanges as 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.
Of course, some of these claims are not entirely unfounded. As with all dealings with cryptocurrency, there are inherent risks to using cryptocurrency exchanges.
There is a chance that law enforcement will close down an exchange. When this happens, these exchanges might not be able to return your money because some operate illegally in gray areas.
You may also be unable to withdraw or sell your cryptocurrency and digital assets due to your funds being locked in an exchange. This can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper authorities.
There is also the possibility that you will lose your money by speculating in cryptocurrency, and then have the rug pulled under your feet by the founders of these exchanges. Especially when these founders are hustlers or scammers who are too good at what they are doing.
It is important to remember that cryptocurrency and any other related technology are always a risky business. Always be cautious. Like with gambling, there are more chances of losing than winning. High-risk, high-reward.
If you prefer to see the experience in a more visual way, Mark Farfan’s YouTube video review is for you. To get a comprehensive overview of Binance, you may still want to check out our article below, which compares it to some competitors.
Binance Exchange Binance Margin vs Futures
Binance Overview
Binance exchange is the largest cryptocurrency exchange in the world. It offers the largest number of trading pairs and has the highest trading volume among all crypto exchange services.
Binance was established in 2017 by Changpeng Zhao, a Chinese-Canadian entrepreneur. The company was initially based in China, but with the growing crypto restriction on crypto in the country, it was moved to Japan and soon to Malta.
Back then, the company had no place to call home.
The company is currently based in Malta. Binance is available in most countries, with the exception of the United States where Binance.US was created.
Binance’s popularity with its user base is because of its low fees, a large number of available cryptocurrencies, as well as its innovative products. The platform has a lot to offer in terms of products that are based on cryptocurrencies.
These products/services offer the opportunity to earn, trade, stake, derive and NFTs. The service allows you to get loans, make payments and even apply for credit cards.
Cryptos Under Binance
Binance also has its own set of tokens and cryptocurrencies. In fact, there are two.
The BUSD is the first. 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.
BNB is the second. It was previously known as Binance Coin. The initial coin offering (ICO), launched it in 2017. This was to provide an asset for users back when Binance was still very young. It began as an ERC-20 standard token built on the Ethereum blockchain.
Currently, it is a native token of the Binance ecosystem, where it plays an essential role by powering operations. It is used to pay listing, exchange, trading fees, and other expenses users incur on the platform.
Binance Perks
- Low Fees
This is why Binance is the most popular crypto exchange platform in the world. Binance trades can be done for 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.
That said, most of these opportunities carry great risk, so it is up to users to discern and weigh these risks. That said, trading and dealing with crypto is already risky in itself.
- Advanced trading tools
Lastly, Binance would not be called a crypto exchange platform if it were without trading tools.
Binance offers advanced trading tools that make it easy to tailor trading options. It is easier to place limit orders to buy or sell crypto at a certain price.
Then there are charting tools that can be very useful for veteran traders making 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.
When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. You can do it through the Binance App, the Binance website, or even the Binance desktop app.
Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. Anyone who wants to track their trades can access their trade history on the exchange platform.
You can even customize how they view trading. This makes it easier to understand data. 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.
The fees you pay will depend on whether you are a taker or a maker. Takers, who remove liquidity orders from a market, tend to get higher fees than makers (those who add liquidity to it).
As Binance has its own native currency, the platform encourages using its payment for transactions. You get 25% off your trading fees when you use BNB to make trades. 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 | 20,000,000 to 119,999,999 and 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 | Between 200,000,000 and 499,999.999,999 with at least 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 99,999,999999 and at most 1,750 BNB | 0.05% / 0.07% |
| 7 | Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB | 0.04% / 0.06% |
| 8 | 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.
Binance was the victim of a large-scale security breach on May 7, 2019. It was discovered that hackers stole 7,000 Bitcoins worth $40 million. However, customers were reimbursed by the site’s “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.
On allegations of tax crimes and money laundering, the United States Department of Justice investigated the company.
It also had to cancel the planned launch of its own digital asset marketplace in Britain. Their application did not meet anti-money laundering requirements.
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. 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
- Trading tools that are sophisticated
- There are many ways to deposit 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 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, or Coinbase Global, Inc, is an American publicly traded company that operates as a cryptocurrency exchange platform. It is a distributed company, and as such, all people employed by the platform operate via remote work.
The company doesn’t have a physical headquarters. The company used to have its headquarters in San Francisco. However, this palace was demolished and the company moved 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.
Later on, co-founder Fred Ehrsam joined him after noticing Armstrong’s post on Reddit. This was back in the days when bitcoin was only $6 and was only known to “a few nerds online” (Ehrsam’s words not mine).
They believed bitcoin was an insane idea that would revolutionize finance and money. They both shared a confident view that bitcoin will be very big. 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 Margin vs Futures
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: SushiSwap (SUSHI)
Coinbase Perks
- A wide selection of cryptocurrency
There is a reason why coinbase is the biggest cryptocurrency exchange in the United States. The market offers a wide range of cryptocurrencies.
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.
In fact, few cryptocurrency exchanges could compete with Coinbase in terms of selection in the U.S. Market.
- Simple and Advanced Trading
Coinbase offers two trading tools to make it easier for users to access their accounts. 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.
Meanwhile, advanced trading offers more features, such as charts, a live order book, and even the ability to limit orders. While this option has lower fees, the trade-off is that it is less intuitive, more complex, and intimidating to new users.
With that said, placing your trades in advanced trading is highly advisable just to maintain low fees.
- Get Free Crypto
For those wanting to earn more crypto, Coinbase gives a cool feature that allows customers to do so. Coinbase Earn is Coinbase’s feature that lets users earn free crypto in exchange for learning more.
It is encouraged that users read more about cryptocurrency through educational modules. Once they have completed one module, coinsbase will allow them to earn more.
Although the feature doesn’t offer much, it is still useful. Even a few crypto bits can be a blessing in this economy. Also, anyone who declines to pay for money is a fool. Even if the amount is not.
- Educational Content
Coinbase’s library is an educational resource, as we have already mentioned. These resources include tips and tutorials, as well as information about crypto basics. Market updates are also available. It is for this reason that Coinbase is the ideal platform for those just starting to invest in crypto.
- Mobile App
Coinbase up its accessibility factor by allowing users to access their accounts with a mobile app. Like the web platform, their mobile app provides user-friendly ways to buy, sell, and manage your cryptocurrency.
The Coinbase app isn’t just garbage. It’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.
- Crypto Rewards
You can earn interest on many cryptocurrencies through your Coinbase Account. 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. Binance Margin vs Futures
As said, staking on cryptos will give you certain free rewards. This is not possible for all cryptos. It depends on where you live and the cryptocurrency.
- Coinbase Debit card
Aside from trading, Coinbase allows users to access and spend their hard-earned wealth using the Coinbase card.
If you have a Coinbase account, you can apply for a Coinbase card, a prepaid Visa debit card linked to your Coinbase account balance. It allows you to spend cryptocurrency to purchase certain services, especially those that accept Bitcoin or other crypto payments.
What’s more, using the Coinbase card gives you a chance to win crypto rewards. 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 have provided their determination to achieve this vision by letting users earn cryptocurrency just for watching tutorial videos 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 Margin vs Futures
Coinbase Pro is different because it was designed for professional traders. It gives them more tools that allow for greater customization of their trades. You can choose from several order types such as stop, limit or margin orders.
Users can also access real-time charting tools, trade history, order book, and price charts. This will allow them to make better decisions about how they move their positions or trades.
While it says pro on the tin-can, it doesn’t mean that users will have to pay another fee to access Coinbase Pro. 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. Its fee structure can be too complex and a little hard for the mind to wrap around. It is said that the fee structure depends on three confusing factors:
- Coinbase charges a spread on cryptocurrency sales and purchases. There is a huge charge that rates will vary depending on market fluctuations.
- Coinbase claims that fees are based on a variety of factors, including the chosen payment method, market conditions (volatility or liquidity) and the order size.
- 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 Margin vs Futures
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. Coinbase Pro users must have a bank account to make withdrawals and deposits.
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 |
| From $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.
The chart below gives an overview of Coinbase Pro’s fees.
| 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.
According to a Financial Times article Visa, the credit card company, initially blamed Coinbase. Later, however, Visa retracted those statements and stated on the Coinbase blog that Coinbase was not responsible for the issue.
Coinbase received more customer complaints than ever in 2018, with an increase of over 100%. These complaints were mostly referred to as “money not available when promised.” Coinbase solved the problem by increasing customer service staff to decrease wait times.
Coinbase was also involved in the first-ever case of insider trading regarding cryptocurrency. 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.
- You can trade simple or advanced depending on your preference
- Offerings a coinbase debit card that allows easy withdrawal of funds Binance Margin vs Futures
Cons
- Complex and complicated fees structure, which is not transparent
- High fees on some transactions
- Limited staking and interest opportunities.
- There are a bunch of altcoins missing from their selection
- Problems with customer service
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Binance or Kraken?
Both Binance and Kraken are giants of the cryptocurrency world, with both platforms amassing millions of users. It might seem that there is a big gap between these two platforms if we compare their ranks (Binance at the top and Kraken at the bottom), but there are more to it.
For example, US-based Binance users are severely hampered by the fact that they can only access Binance’s U.S. platform (Binance.US.) Kraken, however, is readily available in the country.
There are a lot of similarities between these two platforms, with both offering advanced trading options, low fees, and even mobile apps. Both platforms are targeted at experienced or veteran cryptocurrency traders.
Customers will ultimately decide which platform they prefer by choosing the most important features. Binance will be the one to choose with their lower fees, large selection of coins and extra way of managing funds. Kraken or Binance with their high security standards that won them a Wyoming bank charter approval in 2021. Binance Margin vs Futures
Kraken Overview
Kraken is a fully functional crypto exchange characterized by its low fees and a good selection of tokens, coins, and cryptocurrencies. This platform is unique in that it offers advanced trading tools such as margin.
Kraken’s primary goal is to be the most secure and reliable crypto trading platform. In fact, users and traders have praised Kraken for being one of the only crypto exchanges that “has been probably the only exchange that hasn’t been involved in some kind of shady activity against its users…that doesn’t indulge in questionable corporate policies,”
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 and 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. Further currencies and margin trading would 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 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 Margin vs Futures
The year 2014 was very big for Kraken. The company received a Series A investment of $ 5,000,000 from Hummingbird Ventures in March 2014.
It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, Powell’s former employer. 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. 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
Aside from that, Kraken also supports some stablecoins which include Tether, USD Coin, as well as 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 Margin vs Futures
Kraken Perks
- Beefy Security
Kraken has been an integral part of the cryptocurrency market since its inception in 2011 and its launch in 2013. Its eyes were focused on security from its first day, and it never kept its eyes off it after all these 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. Some in the industry associate Kraken with financial stability and physical security. 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 Margin vs Futures
This amount helps Kraken maintain high liquidity, making buying and selling at a fair price easier on the platform.
Kraken works using currency pairs, a one-to-one equivalency between two currencies. It is the price of the exchange rate between two currencies that are traded on FX markets.
In the case of Kraken, one currency pair would be using dollars to buy Bitcoin and vice versa. If you are using dollars to buy Bitcoin and then Bitcoin to buy Ethereum, you will always be swapping one currency for another.
In the case of Kraken, not all of its currencies are exchangeable for the others.
- Advanced trading features
Kraken is the only exchange that offers margin, stop orders and crypto short sales. Kraken also has a dark pool where high-volume investors can trade without their names being known.
Kraken allows you to leverage a currency pair by up to 5x. Pro clients who are eligible can get up to $500,000 in margin. Margin trading is still risky.
- Fees are reasonable.
While it is not the lowest in the market, the prices of Kraken’s fees are pretty competitive and on par with several exchanges. It is even cheaper 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. We will discuss fees in detail in another segment. However, it is important that you know that instant buy features are more expensive than the pro platform.
- Optional Strong Staking
Kraken offers a variety of stake options. Users have the opportunity to stake over 15 different cryptos. They can earn between 0.25% and upwards of 20%.
Staking refers to the act of holding your coins in order to make a contribution to the security of a specific blockchain. It can be a great way to passively earn an income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. 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. However, beginners can still use the platform if they want. It is suggested that they start with the central Kraken platform to learn the ropes. Binance Margin vs Futures
Kraken allows verified accounts with linked bank accounts to purchase cryptocurrency quickly. From there, selling or converting your crypto into your account is just a simple process. The website has a simple form that allows you to place orders. It usually takes a few seconds.
Their system makes it easy to buy cryptocurrencies using your bank account balance. Your account doesn’t need to be funded first.
Two-factor authentication (2FA) is a security feature that you can use to protect your Kraken account. To log in to your account, you’ll need to have your device.
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 Margin vs Futures
It includes more detail about assets, active charts and the ability to view 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
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.
Also, prices and fees will differ depending on your platform. Kraken Pro will always be cheaper than regular Kraken.
In normal Kraken, fees for instant purchases include 1.5% for most cryptocurrencies and 0.9% for stablecoins using the U.S. dollar or another stablecoin.
Additional fees will vary depending on how you fund your purchase. For funding with a bank account, these fees range from 0.5% to 1.5%. For a digital wallet, you can get a 25-Euro cents debit card, credit card or card at 3.75% plus 25 Eurocents. Binance Margin vs Futures
Kraken Pro’s pricing however is quite 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. Remember that transactions are subject either to a 0.16 maker fee or 0.26% taker fees.
Below is a general chart of their maker-taker fees in a 30-day volume in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
There really are not many issues concerning Kraken aside from disagreement with a work culture which is something the company has already worked on and moved on
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.
That said, Kraken has its fair share of issues regarding 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.
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. Kraken was fined $1.25million by the Commodity Futures Trading Commission in September 2021 for allowing unregistered margin trades.
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).
- Offers a variety of educational materials.
- Most secure exchange in the market
- Simple user interface
Cons
- Base Kraken platform has pretty expensive fees compared to the Kraken Pro version. Luckily both modes can easily be accessed as long as you have a Kraken account.
- Kraken only accepts a few fiat currencies
- A few users complain about their accounts being hacked. Binance Margin vs Futures
- 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 offer a wide range of features, such as low fees, staking, and 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.
The better way to choose your crypto exchange is to examine both options and determine which one appeals to you more. Will you choose the more investor-friendly Binance with its wider selection of cryptocurrencies to invest in, or will you take Crypto.com’s side, which offers a more user-friendly experience and lower fees. Binance Margin vs Futures
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.
Domain sellers might sell the domain for a larger sum, with the domain being valued at between US$5 and 10 million.
Crypto.com is a platform that does the same thing as most cryptocurrency exchanges. It lets users trade, invest, stake in a currency, and many other things.
It also has a huge selection of currencies numbering at least 250 different currencies, reasonable fees, and even discounts to some specific customers (like those with huge stakes in the Crypto.com’s very own coin, the cronos (CRO).
Crypto.com’s main selling point and focus is in their exchange. They offer many crypto services, including their own crypto wallet and an NFT shop. The company has even partnered with Shopify those in the e-commerce platform accept cryptocurrency as a valid payment.
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. 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
As mentioned above, Crypto.com also has its coin called Cronos (CRO). Having a significant stake in this coin rewards you with lower trading fees, higher stalking interest rates, and higher credit card rewards. Binance Margin vs Futures
Crypto.com Perks
- One-Stop Shop
Crypto.com is more than a trading platform. It allows you to buy and sell cryptocurrencies on the exchange and swap said cryptocurrencies with others through your DeFi wallet.
Crypto.com lets you spend your crypto with a prepaid Visa Card. Basically, Crypto.com puts weight on the currency part of cryptocurrency.
- Low Fees
Crypto.com’s low fees are comparable to many other sites.
In fact, there are transactions within Crypto.com that do not even require any fees. You can deposit your money via wire transfer or electronic bank to your account.
Crypto.com allows you to buy and sell cryptocurrency at the true price, which is why you should know that “what you see is what your get”.
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. Provided that Crypto.com is limited to 20 fiat currencies available on the platform.
These fiat currencies include USD, GBP, and EUR, among others. However, just because it is available for trade on Crypto.com does not mean that a fiat currency will be available to you for trade. Your country of residence will still be a big factor limiting your ability to trade in certain fiat currencies.
- Cashback cards
One of the best perks you can get as a member of Crypto.com com is the availability of Visa Cards connected to your Crypto.com account and its crypto currency.
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.
Your CRO stake in the platform will determine which Card you can get.
Their Ruby Steel card is the lowest available tier, and it also offers a 1% cash back on your contribution. Of course, you will need to have at least a $400 stake to be able to avail of this.
Meanwhile, those who own deeper pockets can avail of their top-of-the-line, Obsidian tier. This tier earns you 5% cash back or cryptoback, as well as lots of bonuses. To qualify, you will need to have at least $400,000 in stakes. Binance Margin vs Futures
Midnight Blue, Jade Green/ Royal Indigo and Frosted Rose Gold/ Icy White are some of the other cards that are available. All these cards have no annual fee and give you a set number of free ATM withdrawals and foreign transactions each month.
- Earn Interest
Crypto.com is more than a place to purchase tokens and coins. It’s a one-stop shop that offers everything crypto. 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.
Using the app, you can increase your interest rate in multiple ways. One of them includes Staking more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.
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.
Finally, stablecoin investments can also increase your interest rate. Stablecoins usually peg their values to an external reference. Some can even be tied to the U.S. Dollar. These stablecoins allow you to earn more interest.
That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. That also means they are also less likely to depreciate in value.
In the end, keeping your savings in crypto is still risky. Cryptocurrencies are still a volatile entity, and if it fails, your savings may be reduced… by a lot.
- 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
Your trades with Crypto.com will largely revolve around the mobile app. This serves as the platform’s central hub. For those who have been trading stocks on their phone or tablet before, the experience will be easy and similar to what you would expect. Binance Margin vs Futures
This app shows the user their portfolio and lists of their most popular assets. It includes everything needed that Crypto.com says it offers. With it, you can trade currencies, earn through staking in crypto, make payments with cryptocurrency, and even sign up for a Crypto.com credit card.
Where would you pick up a trading application without its chart tools. The Crypto.com app shares a simple set of data which aims to not overwhelm or intimidate users. The charts just contain enough information needed for users to learn how the blockchain and the currency work, something they might need before buying.
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. Those who trade in higher volumes can qualify for fees as low as 0.04% for makers and 0.1% for takers, even without CRO staking.
Discounted trading fees have become available when users hold at least 5,000 CRO in their wallet. Rates go lower with larger stakes.
That said, newer Crypto.com users without any CRO staking will pay a 0.4% fee on trades with a total monthly trading volume of less than $25,000.
Below is a table showing fees for spot and margin trades for customers with no CRO stake amount.
| 30-Day Spot Trading Volume (USD) | Maker | Taker |
| Less than 250,000 | 0.0750% | 0.750% |
| Greater than or equal 250,000 | 0.0700% | 0.0720% |
| Greater than or equal to 1,000,000 | 0.0650% | 0.0690% |
| Greater than or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than or equal to 10,000,000 | 0% | 0.0500% |
Meanwhile, the table below is the maker and taker rates for those who have less a stake of than or equal to 100 CRO (3% discount)
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Less than 250,000 | 0.0728% | 0.728% |
| Greater than or equal 250,000 | 0.0679% | 0.0698% |
| More than 1,000,000 or equal | 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 stated, discounts are based on the CRO stakes. Maker fees for those with stakes greater than or equal to 50,000 CRO become zero. People with even higher stakes may be eligible for rebates.
Crypto.com Issues
Like most cryptocurrency exchanges, Crypto.com does have its fair share of problems.
Crypto.com was the victim in a serious hacker attack on January 20, 2022. It was reported that the company lost US$15 million worth of Ether. This was after some users reported suspicious activity on their accounts. The company immediately halted withdrawals, which were then restored. The company reported that no customer funds were lost alongside the restoration of withdrawals.
Crypto.com’s problems were mostly caused by the decline in cryptocurrency. Crypto.com was forced to lay off hundreds of employees that had been working since May. The company was forced to lay off between 30% and 40% of its employees in October 2022.
In November of 2022, their exchange token Cronos (CRO) has lost approximately $1 billion in value. This was in part due to the collapse of FTX. Crypto.com CEO Marszalek reassured that the exchange was operating normally.
Crypto.com Pros and Cons
Pros
- Competitively 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 Margin vs Futures
- Strong security
Cons
- User interface and the exchange itself is pretty difficult to navigate
- There are limited availability of coins.
- 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. Binance is the clear winner, and it is by quite a bit. KuCoin was one of the first platforms to trade cryptocurrencies. However, FTX and Kraken have taken over.
As of today, while KuCoin still has its users and most traders generally avoid the platform like the plague. 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 founded back 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.
He was shocked to discover that some of the largest cryptocurrency exchanges at that time were difficult to use for beginners. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto changed the global financial system.
Eric and Michael had already written the first code for KuCoin in a coffee shop by the end of 2013. This was how the platform, which would later be known as the “People’s Exchange,” got its start.
Cryptos under KuCoin
Since it is an older cryptocurrency exchange platform, it is not surprising that there is a pretty sizable selection of cryptocurrencies you can buy and trade in the exchange.
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. Binance Margin vs Futures
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). Aside from that, some of the more popular coins available in the exchange platform include the following:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- XRP (XRP)
- Chainlink (LINK)
- Filecoin (FIL)
- Internet Computer (ICP)
- Wrapped Bitcoin (WBTC)
- USD Coin (USDC)
These are only a small selection of the many options available on 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.
It is a key mission of KuCoin to help smaller and more recent cryptocurrencies succeed. 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. Although it’s not the lowest on the market, it’s still low enough to be competitive with other exchanges.
In KuCoin, you don’t have to pay any monthly account fees. The withdrawal fees are the same as other exchanges and deposits to KuCoin are free. However, depositing fiat money such as U.S. Dollars will require you to pay an additional fee. Binance Margin vs Futures
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. The second way is to loan out your crypto and get paid the interest.
Your interest rate for borrowing crypto is higher than the one you would get from a savings account. That said, the coin and its demand still affect how much you earn.
According to the exchange, you can earn up to 8% to 12% on average from this way. KuCoin uses this money to finance margin trading. Although it might seem risky, the company assures that all lenders will be fully repaid.
This repayment could be made from collateral or KuCoin margin insurance funds.
- Advanced Features
KuCoin provides veteran users with plenty of toys and extra features to play with. They permit margin trading which allows users leverage their position which allows them to borrow money to purchase more crypto.
KuCoin’s mobile app also supports trading bots. This means that you don’t have to buy and sell your cryptocurrency yourself. Instead, you can let a computer handle that task for you. This is very convenient because you don’t always have to be online in order to run your business.
That said, using bots can be pretty risky. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.
The convenience bots offer may not be worth the uncertainty about how they handle your assets.
KuCoin Trading Experience
The KuCoin trading experience can start either through an online portal or an Android and iOS mobile app. Both have an abundance of features and tools which you can use when doing trades on the platform.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. 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.
Besides orders, users also have access to margin, futures, and P2P trading. If you want, you can even stake your crypto with the benefit of earning some back or a discount on some trading fees. Binance Margin vs Futures
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. They can be difficult for novice traders, as they aren’t user-friendly on mobile platforms.
KuCoin Fees
KuCoin breaks down trading fees by levels. These trading fees will mostly depend on 3 factors. 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. Paying fees with KCS will net users 20% off.
KuCoins also has a 24-hour withdrawal limit.
| Trade Fee | 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
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. Binance Margin vs Futures
KuCoin has also been accused of market manipulation, with some even saying their assets randomly disappeared from their accounts. This is a problem especially when it comes to 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
- Wide range of coins
- Allows you to 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
- New traders can find it intimidating and overwhelming
- Has limited education resources
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Binance versus Bittrex
Bittrex is a crypto exchange that has more similarities than differences than Binance. Both offer similar features that users can enjoy. Despite being similar, the two platforms have major differences.
The key difference between the two platforms is their size. While Binance boasts about the largest amount of trading volumes among the different exchanges, Bittrex aims for a more scaled-down experience.
There was once a time when Bittrex was once among the global leaders in the cryptocurrency industry. Still, Binance surpassed them after the former implemented stricter Know Your Customer (KYC) and anti-money laundering policies.
Bittrex Overview
Bittrex is a cryptocurrency exchange that aims to operate a world-class service with focus and trust.
It was 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 can be found in Seattle.
The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. Binance Margin vs Futures
Despite their new fiat trading platform, they offer many cryptocurrencies and stablecoins. Also, they are available in 46 U.S. states, excluding Hawaii, New York, and Vermont
Cryptos under Bittrex
Bittrex offers a variety of stablecoins and cryptocurrencies on their exchange. Like most exchanges, this variety makes platforms very enticing to traders.
They include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (Link)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Tether (USDT)
- Polygon (MATIC)
Bittrex Perks
- Huge selection of cryptocurrency
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 offers low fees starting at 0.3% 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.
- Execution of fast trading
Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This even keeps up despite having a heavy demand. 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. This can earn them up to 5.5% in rewards. Binance Margin vs Futures
- 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.
In Bittrex’s case, it offers an impressive library of educational resources in its Discover section. You will find references and articles on a variety of crypto topics here. There are references and lessons for topics ranging from crypto taxes to how crypto mining works.
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. Binance Margin vs Futures
- Referral Program
Bittrex operates a referral program where when someone you know signs up for an exchange account and uses your referral link, you will earn 10% on all trading commissions they pay.
This may not seem like much. Referring 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
Trading on Bittrex is a no-frills, straightforward experience. Logging in is all that’s required to access the trading dashboard. Of course, it is accessible via a mobile app or desktop computer.
The desktop interface offers a simple “instantbuy/sell” option. This option lets users quickly make trades or purchase crypto with a debit card, bank account, or Bittrex account balance.
Users can also benefit from a real-time view of the markets available on the platform. Besides that, users have the option for more advanced order types. You can also choose from stop, stop limit, trailing stop and laddered orders.
Bittrex Fees
Bittrex has a simple fee structure that makes it easier to understand their fees than other exchanges. You still receive fee discounts for trades that have higher volumes. These fees are generally quite low, but not the lowest on the market.
| 30-Day Volume (USD) | Maker | Taker |
| Below $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| $100,000 – $1 million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has received negative reviews from users. Many of these problems are caused by account lockouts, assets that have been frozen, and identity verification issues. These problems are widespread across all crypto exchanges.
At the very least, the platform has not seen any major controversies or setbacks.
Bittrex Pros & Cons
Pros
- Highly secure
- A wide range of cryptocurrency available
- Very low fees
- Advanced trading tools
- Very useful educational content
Cons
- Customer support is mediocre and often unhelpful
- For beginners, it can be difficult
Binance versus eToro Binance Margin vs Futures
Binance and eToro are two of the most well-known cryptocurrency platforms. They are both pretty famous and lead the market in what they do.
However, there is a difference that divides the two. They are two very different platforms. Binance is a cryptocurrency exchange. eToro, however, is not. Rather, it is a cryptocurrency broker.
Binance offers a variety of digital assets, including NFTs and services. Meanwhile, a cryptocurrency broker sells crypto alongside other investment products like stocks and fractional shares.
eToro Overview
Unlike most of the companies listed in this review, eToro did not start as a platform for cryptocurrency. The Tel Aviv-based company was actually an online forex broker originally under RetailFX. This was back in 2007.
RetailFX began offering stocks, indices and commodities. 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. CFDs could now be bought and sold to non-U.S. users. The world’s most popular digital currency. It added support for Ripple and Ethereum four years later. Binance Margin vs Futures
In 2018, eToro also made a big push in the crypto market. The platform was expanded with more currencies and coins. The company also launched eToroX, a digital asset platform and its crypto wallet.
Cryptos under eToro
eToro and its digital asset platform have few cryptocurrency selections. They were not originally set up as an exchange, but rather as a brokerage. That said, some popular currencies found in the service include:
- Bitcoin (BTC).
- Bitcoin Cash (BCH).
- Cardano (ADA)
- Dash (DASH)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Litecoin (LTC).
- Polkadot (DOT)
- Polygon (MATIC).
- Solana (SOL)
- Stellar Lumens (XLM)
eToro Perks
- CopyTrader
The CopyTrader is eToro’s signature feature. This feature existed long before the platform began to explore the crypto industry. Binance Margin vs Futures
This allows eToro users simply to copy trades made by their favorite traders. Users only need to set the amount of money they want to allocate for the trade.
The platform will then set the funds and attempt to match the positions of their favorite eToro traders proportionally.
What is surprising about this tool is that it is entirely free. 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 allows you to have both stocks and cryptocurrency 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 other cryptocurrency exchanges that charge fees, eToro doesn’t charge users to make a debit card payment. 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.
Starting in the platform is as easy as depositing fiat currency from a debit card or bank account, and then they can trade immediately.
A trading tab provides an intuitive view of the current prices, buys, sales, and converts crypto.
CopyTrading is the top perk that makes trading simple and straightforward. It even allows users to do trades proportional to high-performing traders in the platform.
The platform provides basic market and limit orders. It does not offer advanced charting and conditional orders.
Also, the lack of cryptocurrency choices limits the cryptocurrency fairs the platform can offer.
It’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
eToro offers a refreshing view on fees. Unlike most cryptocurrency exchanges, which don’t show their fee, eToro lists the fees it charges when trading crypto.
eToro users 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. This fee is charged when users close or open positions.
However, most users do not like that on eToro, and you pay for the “round trip” upfront. This is 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.
This could be a problem when users transfer their coins to an external wallet. They can’t return the coins to the trading platform.
eToro Issues
Due to its age, it is not surprising that the platform has had its fair share of controversies. Most of these do NOT involve the cryptocurrency 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:
“Due to extreme market volatility in the crypto markets, margin positions for all leveraged crypto positions” should be changed to non-leveraged, or they would be closed within four hours.
This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. It even provoked actions of having the eToro license in Cyprus revoked.
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 numerous jurisdictions
- CopyTrading is a unique feature that is only found in the platform.
- Has more to offer outside of crypto trading
- Transparency in the fee
Cons
- Only 44 states in the United States allow stock, ETF and cryptocurrency trading
- Margin trading is not available for U.S. users
- There is a limited selection of cryptocurrencies.
- The 1% fee is quite high in comparison to other fees.