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.
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 determined by the market value of the 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. For some people, cryptocurrencies and cryptocurrency exchanges are treated as borderline illegal online marketplaces.
These people believe these places could facilitate the trading of unregistered securities. They fear that crypto exchanges could be used by criminals to launder money, and they have limited AML/KYC capabilities to evade the law.
Some of these claims may not be entirely true. As with all dealings with cryptocurrency, there are inherent risks to using cryptocurrency exchanges.
For example, there is a good chance that law enforcement may shut down an exchange. These exchanges may not be able return your money if they are shut down by law enforcement because they operate in grey areas.
There is also the possibility of your funds getting locked in the exchange, leaving you with no way of withdrawing or even selling your cryptocurrency and other digital assets. This could happen when your cryptocurrency exchange is seized or under investigation by the authorities.
Lastly, there is a very big possibility of you losing your money from speculating cryptocurrency and then having the rug pulled under you by the founders or founding team of these exchanges. Especially when these founders are hustlers or scammers who are too good at what they are doing.
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.
For those of you who prefer a more visual experience, here is a video review from Mark Farfan’s YouTube channel. You can still check our article below for a complete overview of Binance. It also compares it with some other competitors.
Binance Exchange Binance vs Pancakeswap
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. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
Back then, the company had no place to call home.
The company is currently based in Malta. That said, Binance serves most countries around the globe, except for the United States, where a specific version of the platform, Binance.US, had to be established.
Binance’s popularity 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. The service allows you to get loans, make payments and even apply for credit cards.
Cryptos Under Binance
Binance has its own tokens and cryptocurrency. In fact, there are two.
The first one is called BUSD. It is a fiat-backed stablecoin issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. The company created BUSD as a means to provide a more stable cryptocurrency alternative for traders and investors wanting to avoid the volatile nature of the digital asset market.
BNB is the second. 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 was originally an ERC-20 standard token that was built on the Ethereum blockchain.
Currently, it is a native token of the Binance ecosystem, where it plays an essential role by powering operations. It is used to pay listing, exchange, trading fees, and other expenses users incur on the platform.
Binance Perks
- Low fees
This is the main reason Binance is the largest crypto exchange platform worldwide. Binance trades can be done for free. The platform uses a maker/taker fee structure. The trading volume and Binance Coin balance will determine the fees.
That said, the platform still charges fees for some services, such as withdrawal and payment types.
- Large Crypto Selection
A crypto exchange platform will only be as good as the selection of cryptocurrencies available in its market. Of course, being the biggest one there is, Binance carries a lot and other digital currencies available.
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.
- Multiple ways to Earn
Binance is a platform that allows users to make more money from their crypto assets. Customers can earn income by adding liquidity to token pairs. You can also try on some staking options available on the platform.
That said, most of these opportunities carry great risk, so it is up to users to discern and weigh these risks. Trading and dealing in crypto is risky enough.
- Advanced trading tools
Binance wouldn’t be considered a crypto-exchange platform if it didn’t have trading tools.
Binance has advanced trading tools that allow users to customize trading options easily. It makes it easier to set limit orders to buy and sell crypto at a specific price.
Then there are charting tools that can be very useful for veteran traders making decisions. You can even sell leveraged tokens to make trading easier.
Binance Trading Experience
Binance’s overall trading experience is excellent. You can trade with Binance using a variety of trading tools, which allow for faster and more efficient transactions. Some even have real-time charting tools with moving averages which makes everything convenient and accessible.
When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. You can do it through the Binance App, the Binance website, or even the Binance desktop app.
The platform will keep track of traders’ portfolios for them, so they won’t need to use any additional tools or platforms. 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 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 | Less than 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4999,999 with at least 25 BNB | 0.09%/0.10% |
| 2 | 5,000,000 to 19,999,999 and at least 100 BNB | 0.08% / 0.10% |
| 3 | 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 999,999,999 and at least 1,750 BNB | 0.05% / 0.07% |
| 7 | 1,000,000,000 to 2,499,999,999 and at least 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
Binance is a crypto-currency company that has many problems and controversy, despite being the most prominent.
The year 2019 was a terrible year for the exchange platform.
On May 7, 2019, it was revealed that Binance became a victim of a “large-scale security breach.” It was reported that hackers had stolen 7,000 Bitcoin worth $40 million then. That said, the site reimbursed customers through its “Secure Asset Fund for Users(SAFU).
However, it wasn’t as rough as the year 2021 was. It’s not true to say that Binance had a difficult year in 2021.
On allegations of tax crimes and money laundering, the United States Department of Justice investigated the company.
It was also forced to cancel its planned launch in Britain of a digital asset marketplace. 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. These said data included names and addresses of users in a bid to fight crime.
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
- Simple Access to Passive Income Opportunities
- Large Selection of Cryptocurrencies
- Trading tools that are sophisticated
- Multiple ways of Depositing 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 like the United States, Japan, the United Kingdom, Thailand, and many more.
- Not available in the United States because of regulatory issues. Even the US-specific service, Binance U.S. (a more limited version), is unavailable in some states.
- No built-in digital wallet available
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Coinbase Versus Binance
There are no two different cryptocurrency platforms whose approach can differ as much as Coinbase and Binance.
One is a United States-based exchange that is designed for beginners with a simple interface and limited transaction types, while the other has a steep learning curve and is more suited to veteran users.
The difference between Coinbase & Binance lies in who their primary audience is and how they cater.
Coinbase Overview
Coinbase, also known as Coinbase Global, Inc, a publicly traded American company that acts as a cryptocurrency exchange platform. It is a distributed company, and as such, all people employed by the platform operate via remote work.
As such, the company does not have a physical headquarters because they don’t need one. 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.
After seeing Armstrong’s Reddit post, Fred Ehrsam became his co-founder. This was back when bitcoin was worth only $6 and only known by ” a few nerds on the internet” (Ehrsam’s words, not mine).
The two guys believed that bitcoin was a crazy idea that would revolutionize money and finance. Both men shared the belief that bitcoin would be huge. As such, they wanted to bring crypto to the mainstream and make it easy to use. That was their impetus for making Coinbase.
Coinbase is now the largest crypto exchange in America and the world, but its humble beginnings are not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Binance vs Pancakeswap
Cryptos Under Coinbase
Coinbase doesn’t have any original coins or cryptocurrency. The platform supports over 100 cryptocurrencies. As the need arises, they add new cryptocurrencies regularly.
Here’s a look at the various cryptocurrencies that coinbase offers:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Uniswap
- 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. 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. You can choose from a simple or advanced trade option.
The simple trading option features a straightforward design that is easy to use, especially for beginners. The only downside of this option is that it takes higher fees, which might be counterintuitive to crypto investing’s philosophy of keeping fees to a minimum.
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. This option is cheaper, but it comes with a tradeoff: it’s more difficult to use, more complicated, and more intimidating for new users.
To avoid high fees, it is highly recommended to trade in advanced trading.
- Get Free Crypto
For those wanting to earn more crypto, Coinbase gives a cool feature that allows customers to do so. Coinbase Earn is Coinbase’s feature that lets users earn free crypto in exchange for learning more.
Users are encouraged to read more about crypto through educational modules, and when one has completed one module, coinbase allows 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. Also, anyone who declines to pay for money is a fool. Even if that amount is
- 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. Coinbase is the best platform to start investing in crypto.
- Mobile App
Coinbase has made it easier for users to access their accounts via a mobile app. 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’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.
- Crypto Rewards
Your Coinbase account can allow you to earn interest on many cryptocurrencies. Coinbase automatically pays interest on certain stables like USD Coin (USDC).
This allows you stake certain cryptocurrencies such as Solana (SOL), and Ethereum (ETH).
Staking is how many cryptocurrencies verify their transactions and allows participants to earn rewards on their holdings. When you stake in crypto, you commit your crypto assets to support the blockchain network and verify transactions. Binance vs Pancakeswap
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.
A Coinbase account allows you to apply for a Coinbase Card, which is a prepaid Visa debit credit card that can be linked to your Coinbase balance. Through it, you can spend your cryptocurrency to pay for some services (especially those services and establishments that welcome Bitcoin and other crypto payments).
You can also use the Coinbase card to earn crypto rewards. This rewards program allows you to choose the crypto that you want from a rotating list.
Coinbase Trading Experience
Coinbase offers a different kind of service than Binance, which has lower fees and more advanced training tools. Coinbase’s target market is those just beginning their crypto journey.
This platform provides tools to enable crypto traders to quickly and easily trade. This is in line with their original goal to “make Bitcoin easier to use.”
They 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. For that, Coinbase offers Coinbase Pro. A platform that is specialized for seasoned traders. Binance vs Pancakeswap
Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. Examples include the ability to choose among several order types, such as stop or limit order and margin order.
You can also view real-time charts, trade history and order books, as well as price charts. This will allow them to make better decisions about how they move their positions or trades.
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
The thing with Coinbase is that they do not give away their pricing and fees. They even removed their full fee schedule from their online help section. However, you won’t have to pay all fees at once. 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. 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 vs Pancakeswap
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 |
| From $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
Trades over $200 are subject to a percentage-based fee instead of a flat fee.
The chart below gives an overview of Coinbase Pro’s fees.
| Pricing Tier | Taker Fee | Maker Fee |
| Get up to $10K | 0.60% | 0.40% |
| $10K – $50K | 0.40% | 0.25% |
| $50K – $100K | 0.25% | 0.15% |
| $100K – $1M | 0.20% | 0.10% |
| $1M – $15M | 0.18% | 0.08% |
| $15M – $75M | 0.16% | 0.06% |
| $75M – $250M | 0.12% | 0.03% |
| $250M – $400M | 0.08% | 0.00% |
| $400M+ | 0.05% | 0.00% |
Coinbase Issues
There is a good chance that cryptocurrency will be a legal issue because it is still a new area of technology.
On February 16, 2018, Coinbase admitted that some customers were charged more than originally intended for their credit and debit purchases of cryptocurrencies. This was due to problems that started when banks and card issuers charged the merchant category code (MCC) of crypto purchases earlier that month.
The issue stemmed from the fact that crypto payments were categorized as “cash advances” and that banks and credit card issuers could begin charging cash advance fees for these purchases.
According to a Financial Times article Visa, the credit card company, initially blamed Coinbase. Later, however, Visa retracted those statements and stated on the Coinbase blog that Coinbase was not responsible for the issue.
In 2018, customer complaints against Coinbase jumped more than 100%. These complaints were mostly referred to as “money not available when promised.” Coinbase solved the problem by increasing customer service staff to decrease wait times.
Coinbase also participated in the first ever case of insider trading in cryptocurrency. A former product manager of the company as he shared information about certain tokens listed by the company. The company provided prosecutors with the right information for an internal investigation.
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 vs Pancakeswap
Cons
- Complex and complicated fees structure, which is not transparent
- Some transactions attract high fees
- Limited staking and interest opportunities.
- A lot of altcoins are missing from their selection
- Customer service issues
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Binance versus Kraken
Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. There might seem like a huge gap between the two platforms should we compare their rank (Binance being first and Kraken at fourth), but there is more to it than that.
Binance.US users, for example, are severely limited by the fact that they cannot access Binance’s U.S.-based platform (Binance.US). while Kraken is widely 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. Their target audiences are the same as they are geared towards seasoned or even veteran and advanced 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. Or will it be Kraken and its high regard for security standards, which won them a bank charter approval in Wyoming in 2021. Binance vs Pancakeswap
Kraken Overview
Kraken is a fully functional crypto exchange characterized by its low fees and a good selection of tokens, coins, and cryptocurrencies. 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 main cause is to become the best and most secure crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”
In connection on the November 2022 FTX Controversy, Kraken founder and former CEO Jesse Powell tweeted: “…Happy to live simply, take a fee for matching trades. A balance sheet is mostly Bitcoin and some ETH.”
Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. It was launched in September 2013 and offered bitcoin, Litecoin and euro trades. Further currencies and margin trading would follow.
Powell started working on Kraken to replace Mt.Gox (another bitcoin exchange, based in Shibuya Tokyo, Japan). 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 vs Pancakeswap
The year 2014 was very big for Kraken. In March of that year, the company received a $ 5 million Series A investment from Hummingbird Ventures and Bitcoin Opportunity Fund.
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, CEO Powell’s former employer. Kraken was relied upon because of its proven operating history of not being breached by hackers.
After Wyoming granted such a charter, Kraken was the first cryptocurrency exchange to have a special purpose deposit institution (SPDI), charter in September 2020.
September 21, 2022, saw CEO Powell stepping down as CEO of the platform citing “spending more of his time on the product of the company, user experience, and broader industry advocacy.
Dave Ripley replaced him as CEO.
Cryptos under Kraken
Kraken supports at 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
Aside from that, Kraken also supports some stablecoins which include Tether, USD Coin, as well as Dai. A limited number of Kraken currency exchanges are also available in certain territories. You can convert US dollars into Canadian dollars, Japanese Yuen and Swiss Francs. Binance vs Pancakeswap
Kraken Perks
- Beefy Security
Since its founding in 2011 and launching in 2013, Kraken has been a mainstay of the cryptocurrency industry. Since its inception, Kraken’s focus was on security. It has never stopped focusing on it over the years. In fact, it is the only cryptocurrency exchange that has not had any major hacking accounts.
As such, this United States-based exchange is the consistent leader in terms of security in the industry. Some in the industry associate Kraken with financial stability and physical security. This is a claim Kraken is too proud to make.
- A healthy range of available cryptocurrencies
Kraken offers trades on its platform with over 160 coins and seven fiat currency. It’s not the largest amount but it’s still quite healthy and comparable to the top crypto exchanges. Binance vs Pancakeswap
Kraken’s liquidity is high, which allows Kraken to make it easier for users to buy and sell at fair prices.
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. You will always swap one currency for the other if you use dollars to buy Bitcoin, and then Bitcoin to purchase Ethereum.
In the case of Kraken, not all of its currencies are exchangeable for the others.
- Trading features
Kraken is one of the few exchanges offering margin, stop orders, and crypto short sales. Kraken also has a dark pool where high-volume investors can trade without their names being known.
Kraken allows you to leverage a currency pair by up to 5x. Some eligible pro clients can access up to $500,000 in the margin. Margin trading is still risky.
- The fees are affordable.
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. While we will talk about fees in depth in another segment, it is important to know that fees are higher when using the instant buy feature rather than the pro platform.
- Strong Staking Options
Kraken offers a variety of stake options. You can stake in over 15 cryptos. They can earn between 0.25% and upwards of 20%.
Staking is the act that involves tying up your coins to contribute to the overall security of a particular blockchain and can be a great way for investors to earn a passive income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. Between these exchanges, Kraken Pro offers lower pricing. Both platforms are available to anyone with a Kraken account.
Kraken is a trading platform that’s geared towards intermediate-to-experienced users. However, beginners can still use the platform if they want. To learn the ropes, it is recommended that they begin with the Kraken central platform. Binance vs Pancakeswap
Kraken allows verified accounts to quickly buy cryptocurrency from linked bank accounts. It is easy to sell or convert your crypto to your account. The website has a simple form that allows you to place orders. It usually takes a few seconds.
It is easy to purchase cryptocurrencies with your bank account balance. Your account doesn’t need to be funded first.
Two-factor authentication (2FA) is a security feature that you can use to protect your Kraken account. To log in to your account, you’ll need to have your device.
On the other hand, Kraken Pro is Kraken’s more advanced trading platform. At first glance, it has a more complex interface than the regular Kraken exchange. Kraken Pro is intimidating for new traders. It is well worth the effort. Binance vs Pancakeswap
It includes more detail about assets, active charts and the ability to view open orders.
Kraken allows you to pay lower fees, as we have already stated. If you feel confident, you can trade the same trade with Kraken Pro. You’ll pay less and earn more at the end of the day.
Kraken Fees
Kraken’s fees fall in the middle of the market, as we have already stated. It is not the lowest on the market and it is 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.
In normal Kraken, fees for instant purchases include 1.5% for most cryptocurrencies and 0.9% for stablecoins using the U.S. dollar or another stablecoin.
There are also additional fees that depend on how you fund your purchases. For funding with a bank account, these fees range from 0.5% to 1.5%. Meanwhile, 3.75% + 25 Euro cents with a debit card, credit card, or digital wallet. Binance vs Pancakeswap
Kraken Pro’s pricing however is quite different. The fees for Kraken Pro are generally lower than those on the main Kraken platform. Fees will be calculated based on the volume of your trades over the past 30 days. Remember that transactions are subject either to a 0.16 maker fee or 0.26% taker fees.
Below is a general chart of their maker-taker fees in a 30-day volume in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
Kraken has not had to deal with any issues other than disagreements about its work culture, which the company has worked on and is now ready to move on.
Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.
That said, Kraken has its fair share of issues regarding government regulations.
Kraken refused to cooperate with an investigation by New York Attorney General’s Office in April 2018 on questions about crypto exchanges’ measures to protect customers from market manipulation and money laundering.
Kraken believes that this would be a bad business decision.
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).
- Provides a wide range of educational material.
- The most secure exchange on the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Both modes can be accessed as long you have a Kraken account.
- Kraken only accepts a few fiat currencies
- A few users complain about their accounts being hacked. Binance vs Pancakeswap
- Not available in all U.S. States
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Binance versus Crypto.com
Binance and Crypto.com are some of the more popular exchanges in the cryptocurrency industry. Both provide a variety of features such as low fees and staking as well advanced trading. 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.
It is better to look at both options before you choose the crypto exchange that appeals to your needs. Will you choose the more investor-friendly Binance with its wider selection of cryptocurrencies to invest in, or will you take Crypto.com’s side, which offers a more user-friendly experience and lower fees. Binance vs Pancakeswap
Crypto.com Overview
Crypto.com was established in Hong Kong in 2018 It was originally called Monaco by founders Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. 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 allows users to trade, invest, put a stake in some currency and much more.
It also has a huge selection of currencies numbering at least 250 different currencies, reasonable fees, and even discounts to some specific customers (like those with huge stakes in the Crypto.com’s very own coin, the cronos (CRO).
Crypto.com’s main selling point and focus is in their exchange. However, that is not what they all do, they also offer a variety of crypto services which include their own crypto wallet, and even an NFT shop. The company has even partnered with Shopify those in the e-commerce platform accept cryptocurrency as a valid payment.
Crypto.com can be described as a cryptocurrency platform that allows traders and investors to do more than just buy and hold. Crypto.com allows cryptocurrency to be used as currency.
Cryptos under Crypto.com
In terms of selection, Crypto.com has a huge one available. You can trade spot with more than 250 currencies, and you can also staking. The platform supports the following currencies:
- Bitcoin (BTC)
- Cardano (ADA)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Polkadot (DOT)
- Litecoin (LTC)
- USD Coin (USDC)
- Chainlink (LINK)
- Polygon (MATIC)
- Cardano (ADA)
- Uniswap (UNI)
Cronos (CRO) is Crypto.com’s coin. A significant stake in this cryptocurrency will reward you with lower trading fees and higher stalking interest rates as well as higher credit card rewards. Binance vs Pancakeswap
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.
Most importantly, Crypto.com allows you to spend your hard-earned crypto through a prepaid Visa card. Crypto.com places a lot of weight on cryptocurrency’s currency component.
- Low Fees
Crypto.com’s low fees can rival that of many sites.
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.”
The platform charges a fee for purchases of crypto with a debit or credit card. As an added reminder, payments made with a credit card may also have an added charge of a cash advance fee when buying crypto
- Convert your Money Easily
Although this feature isn’t unique to Crypto.com it deserves to be listed. The Crypto.com app allows users to convert their fiat currencies into crypto. Crypto.com only supports 20 fiat currencies.
These fiat currencies include USD and GBP as well as EUR. However, just because it is available for trade on Crypto.com does not mean that a fiat currency will be available to you for trade. You will be limited in your ability to trade certain fiat currencies due to the country you live in.
- Cashback Cards
One of the greatest perks that you can receive as a Crypto.com member is the availability Visa Cards linked to your Crypto.com account with its crypto currency.
Crypto.com currently offers five types of prepaid Visa cards to its customers. Granted, these cards will need to be topped up before one can fully utilize their uses.
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. That said, you must have at least $400,000 worth of stake for CRO to qualify for this. Binance vs Pancakeswap
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. Crypto.com accounts can earn high interest rates. Crypto.com offers some of the highest-yielding savings accounts on the market.
To benefit from this perk you will need to have a lot of cash in your CRO. However, the maximum amount of interest you can earn is less than 10%.
The interest rate you can acquire will depend on factors like the duration of time you leave your money, the currency you save, and the amount of CRO you have staked.
The app allows you to increase your interest rate in many ways. One way is to stake more than 4,000 CROs. It is even possible to get more if you stake up to 40,000 CRO, but that may be asking for too much.
You can also increase the interest rate if you deposit for a one-month term to three-month terms. While one-month terms are more flexible than three-month terms, deposits for three-month terms yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins are usually tied 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. 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
Crypto.com also offers phone top-ups and gift cards. Buy gift cards from popular brands to earn cash back benefits.
Crypto.com sells gift cards from well-known brands in a variety of industries, including hotels, general retail, gaming, education, and entertainment from at least 41 different countries. You can also find gift cards from the United Arab Emirates, Norway, Singapore and Spain.
Brands include Macy’s, Barnes & Noble, Airbnb, and many more.
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. So those who are already used to trading stocks on a phone or tablet will have a breeze of time and will find the experience pretty similar to that. Binance vs Pancakeswap
This app shows the user their portfolio and lists of their most popular assets. It offers everything that Crypto.com claims it can. You can trade currencies, earn by staking crypto, make cryptocurrency payments, and even apply for a Crypto.com card.
Where would you pick up a trading application without its chart tools. The Crypto.com app shares a simple set of data which aims to not overwhelm or intimidate users. These charts provide enough information for users to understand the cryptocurrency and blockchain, which might be useful before they buy.
In terms of fiat currencies, Crypto.com has a fair selection. More popular ones include the Australian (AUD) and Canadian (CAD) dollar, the euro (EUR), the British pound sterling (GBP), the ever-popular U.S. Dollar (USD), and even the Brazilian real (BRL). This allows users in multiple countries to purchase and get into crypto using their local currency.
Crypto.com Fees
When it comes to trading fees, Crypto.com is pretty competitive in its pricing. They are actually among the few that offer the lowest trading fees on 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 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 or equal to 10,000,000 | 0% | 0.0500% |
The table below shows the maker and taker rates of those with less than 100 CRO (3% discount).
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Less than 250,000 | 0.0728% | 0.728% |
| Greater than or equal 250,000 | 0.0679% | 0.0698% |
| More than 1,000,000 or equal | 0.0631% | 0.0669% |
| Greater than 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. Stakes over 50,000 CRO are exempt from maker fees. People with even higher stakes may be eligible for rebates.
Crypto.com Issues
Crypto.com, like most cryptocurrency exchanges has its problems.
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 quickly paused withdrawals which were later restored. The company reported that no customer funds were lost alongside the restoration of withdrawals.
Most of the problems with Crypto.com were due to the downturn of cryptocurrency in general. As such, Crypto.com had to let go of hundreds of employees, which started in May. The company was forced to lay off between 30% and 40% of its employees in October 2022.
Their exchange token Cronos (CRO), lost $1 billion in value between November 2022 and November 2022. This was due in part to the collapse of FTX. That said, Crypto.com CEO Marszalek assured that the exchange was functioning normally.
Crypto.com Cons and Pros
Pros
- Competitively Low fees
- Provides lots of avenues for paying with crypto
- Converts money easily
- Visa card perk with great cash back rewards
- Earn interest on crypto
- There are a lot of crypto coins and tokens available Binance vs Pancakeswap
- Has strong security
Cons
- The exchange interface is not easy to use.
- There are limited availability of coins.
- Customer service is pretty poor and lacking in some areas
- 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).
KuCoin is still available to its users, but most traders avoid it like the plague. Many negative reviews have been written about the exchange, with a variety of reasons. Some are semantics while others are alarming.
KuCoin Overview
KuCoin is a crypto exchange platform launched in 2017 by tech geeks Micahel Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhum, and Linda Lin. The company was established in 2013.
KuCoin was founded by MichaelGan, who was eager to learn more about blockchain and the potential applications. He discovered Bitcoin from his boss, Eric, and started getting in on the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. This was in direct proportion to the impact blockchain had on the world, particularly with the way that crypto and Bitcoin changed the global financial system.
By the end of 2013, Michael and Eric wrote down the first code of what would become KuCoin in a cafe. This was how the platform, which would later be known as the “People’s Exchange,” got its start.
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 vs Pancakeswap
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 less-known coins can be more risky than the stable and well-known ones. As such, people need to understand what people are getting themselves into.
KuCoin also has it’s token, simply called KuCoin Token (KCS). The following are some other popular coins that can be found on the exchange platform:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- XRP (XRP)
- Chainlink (LINK)
- Filecoin (FIL)
- Internet Computer (ICP)
- Wrapped Bitcoin (WBTC)
- USD Coin (USDC)
These are only a small selection of the many options available on the exchange platform.
KuCoin Perks
- Wide range of Coins
KuCoin offers a wide range of tokens, coins and altcoins that are available for trading on their exchange. In fact, it ranks in the upper echelon when selecting coins available in the exchange.
It is also easier to find smaller coins than other platforms on these platforms. For traders who want to branch out into less popular crypto, KuCoin will be the perfect platform for them.
After all, it is one of the main missions of KuCoin, to give smaller and newer cryptocurrencies a fighting chance. 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 vs Pancakeswap
These fees will depend on your transfer mode and the third-party app you use.
- Earn through interest on your crypto
KuCoin, like most cryptocurrency exchanges lets you make money with your crypto. In the case of KuCoin, the service is called KuCoin Earn.
KuCoin Earn gives you two ways to make money from your crypto. First, you can take coins through Pool-X, a company backed by KuCoin. The second way is to loan out your crypto and get paid the interest.
Your interest rate for borrowing crypto is higher than the one you would get from a savings account. However, your earnings will still be affected by the demand for your coin.
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.
This repayment could be made from collateral or KuCoin margin insurance funds.
- Advanced Features
KuCoin provides veteran users with plenty of toys and extra features to play with. They permit margin trading which allows users leverage their position which allows them to borrow money to purchase more crypto.
KuCoin also allows the use of trading bots in its mobile app. This means that you don’t have to buy and sell your cryptocurrency yourself. 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 are susceptible to errors and you may lose out on many 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. Each platform offers a variety of tools and features that you can use to trade on it.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. Users can view markets, trade, buy, lend, or trade cryptos from there.
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. You can stake your crypto to earn some back or get a discount on trading fees. Binance vs Pancakeswap
The exchange recently added a Trading Bot feature that will simplify the entire trading process.
Overall, KuCoin has plenty of advanced features. Veteran traders might find this a great benefit. 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. To determine the trading fee level, you have to look at the Minimum KCS Holding within the last 30 days, and the Spot trading volume last 30 days (BTC), or the Future Trading Volume within the last 30 days (BTC).
Below is a table that shows which trading level corresponds to which.
| Trade Fee Level | Min KCS Holding last 30 Days | Spot Trading Volume Last 30 Days (BTC) | Futures Trading Volume Last 30 Days (BTC) |
| LV0 | 0 | <50 | <200 |
| LV1 | 1000 | >=50 | >=200 |
| LV2 | 10000 | >=200 | >=400 |
| LV3 | 20000 | >=500 | >=1000 |
| LV4 | 30000 | >=1000 | >=2000 |
| LV5 | 40000 | >=2000 | >=3000 |
| LV6 | 50000 | >=4000 | >=6000 |
| LV7 | 60000 | >=8000 | >=12000 |
| LV8 | 70000 | >=15000 | >=20000 |
| LV9 | 80000 | >=25000 | >=40000 |
| LV10 | 90000 | >=40000 | >=80000 |
| LV11 | 100000 | >=60000 | >=120000 |
| LV12 | 150000 | >=80000 | >=160000 |
These levels will determine how much you’ll have to pay for taker or maker fees. Spot trading fees will be charged based on the base currency of the trading pairs. KCS users will receive 20% off for paying fees.
KuCoins also has a 24-hour withdrawal limit.
| Trading Fee level | Maker/Taker | 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.
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 vs Pancakeswap
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.
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. The exchange lost about $280 million worth of crypto from users’ hot wallets to hackers. This was a serious security breach, despite the fact that all assets were covered by an insurance plan.
KuCoin Pros and Cons
Pros
- Low fees
- Strong user base
- Wide range of coins
- Earn interest on your crypto
- Advanced trading features
- Good customer service
Cons
- The U.S. has not granted license for this product.
- Payment methods are limited
- New traders can find it intimidating and overwhelming
- Has limited education resources
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Bittrex versus Binance
Bittrex and Binance are two crypto exchanges with more similarities than differences. Both have similar features that users can use. Despite being similar, the two platforms have major differences.
The key difference between the two platforms is their size. Bittrex is more focused on a scaled-down experience, whereas Binance has the highest trading volume of all the exchanges.
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, a cryptocurrency exchange, aims to provide a high-quality service with trust and focus.
It was founded in 2014 by three cybersecurity engineers from Amazon: Bill Shihara, co-founder and CEO; Richie Lai, co-founder, and chief information officer; and Rami Kawach, co-founder and chief technology officer. Its headquarters can be found in Seattle.
The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. Binance vs Pancakeswap
Despite the newness of their fiat trading, they still offer a wide selection of cryptocurrencies and stablecoins. Also, they are available in 46 U.S. states, excluding Hawaii, New York, and Vermont
Cryptos under Bittrex
Bittrex offers a variety of stablecoins and cryptocurrencies on their exchange. This variety, like most exchanges makes Bittrex platforms attractive to traders.
Their selections include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (Link)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Tether (USDT)
- Polygon (MATIC)
Bittrex Perks
- A huge selection of cryptocurrency
Bittrex offers a large selection of cryptocurrency in their marketplace, as we have already stated. 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% Depending on trade volume, this fee can be lower. That said, it is not the lowest available in the market. Some exchanges charge lower fees than others.
- Fast trading executions
Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This 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
Those who hold some Cardano (ADA) cryptocurrency would be overjoyed with this platform. Bittrex allows users to stake their Cardano crypto throughout the exchange. You can get up to 5.5% in reward. Binance vs Pancakeswap
- Educational Content
We all know how complicated and elusive finances can be. So by association, cryptocurrency is just as mind-boggling and arcane. Any way you can educate yourself about the topic is a blessing.
In Bittrex’s case, it offers an impressive library of educational resources in its Discover section. You will find references and articles on a variety of crypto topics here. There are references and lessons for topics ranging from crypto taxes to how crypto mining works.
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 vs Pancakeswap
- 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. Users just need to log in, and then they can access their trading dashboard. Of course, it is accessible via a mobile app or desktop computer.
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.
A real-time view of all the market data available on the platform is also available to users. Users also have the option to place more complex orders. Stop, stop limit, trailing stop, and laddered orders.
Bittrex Fees
Bittrex has a simple fee structure that makes it easier to understand their fees than other exchanges. That said, you still get fee discounts for trades with 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. 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
- Can be challenging for beginners
Binance versus eToro Binance vs Pancakeswap
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. 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
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. Rather, the Tel Aviv-based company was originally an online forex broker under the name RetailFX. This was in 2007.
RetailFX began offering stocks, indices and commodities. It changed its name to eToro. It later launched the innovative social trading feature, which allowed users to copy trades from successful traders on the platform.
eToro was only able to get involved in the cryptocurrency market after it added support BTC in 2014. This enabled users to buy and sell CFDs (to non-U.S. users). On the world’s leading digital currency. Four years later, it also added support for Ripple (XRP) and Ethereum (ETH). Binance vs Pancakeswap
Also, in 2018, eToro went full steam on the crypto industry. More coins and currencies were added to the platform. The company even launched its digital asset platform, eToroX, and even its crypto wallet.
Cryptos under eToro
eToro and its digital asset platform have few cryptocurrency selections. This is probably because they did not start as an exchange but 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
CopyTrader is eToro’s most distinctive feature. This feature existed long before the platform began to explore the crypto industry. Binance vs Pancakeswap
This basically allows eToro users to copy trades done by their favorite traders with just one click. Users only need to set the amount of money they want to allocate for the trade.
The platform will then set the funds and attempt to match the positions of their favorite eToro traders proportionally.
It is completely free, which is quite surprising. This feature requires a fee, but it can be used as often as the user wishes.
- Invest more than crypto.
Since the platform started in foreign exchange, it was to be expected that new users could still get in on that action.
eToro allows you to have both stocks and cryptocurrency in one account. Regarding stock investing, the platform offers zero-commission stock trading with the ability to buy 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.
- Deposits to Fee Debit cards
Unlike most cryptocurrency exchanges, eToro does not charge fees for users who want to do a debit card deposit. As such, investors can deposit fiat money via bank transfer or debit card, all for free.
Users should be aware that there is a conversion charge for transactions not in U.S. dollars.
eToro Trading Experience
eToro can be used as a web-based platform or as a mobile app.
It is easy to get started on the platform by depositing fiat currency using a bank account or debit card. Once they have done that, they can trade instantly.
A trading tab provides an intuitive view of the current prices, buys, sales, and converts crypto.
CopyTrading is the top perk that makes trading simple and straightforward. You can even trade with high-performing traders on the platform.
The platform provides basic market and limit orders. However, it lacks some of the more advanced conditional orders and more advanced charting capabilities.
The platform is limited in its ability to offer cryptocurrency fairs due to a lack of options.
It is also eToroX, the flagship digital asset platform with all the bells and whistles users would expect from an institutional-grade exchange.
eToroX now offers U.S. Dollar deposits, margin trading and trading APIs. It also allows for fast execution.
eToro Fees
When it comes to fees, eToro is a breath of fresh air. Unlike most cryptocurrency exchanges, which don’t show their fee, eToro lists the fees it charges when trading crypto.
eToro users are charged a flat fee of 1% per trade in crypto. 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 unlike other exchanges that only charge a fee when a purchase or sale of a crypto asset is done.
With eToro, you pay 1% for the eventual sale of the coin in advance, plus a $1 fee on the purchase.
Users can have this problem if they transfer their coins to another wallet. As they can no longer return them to the trading platform.
eToro Issues
Due to its age, it is not surprising that the platform has had its fair share of controversies. However, most of these do not involve the crypto market.
However, one did occur during the 2021 closing of leveraged positions. Early that year, European clients of the platform were notified of the following:
Margin positions for all leveraged crypto position should be changed from leveraged to non-leveraged. Otherwise, they will be closed in less than four hours.
This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. This led to the revocation of the eToro licence in Cyprus.
eToro also found itself in an unfavorable feud against Redditors from /r/wallstreetbets following the GameStop short squeeze.
eToro Pros and Cons
Pros
- A platform that is already established
- Regulated in many jurisdictions
- CopyTrading is a unique feature that is only found in the platform.
- There’s more to it than just crypto trading.
- Transparency in the fee
Cons
- Stock, ETF, and cryptocurrency trading only available in 44 U.S. states
- Margin trading is not available for U.S. users
- There is a limited selection of cryptocurrencies.
- 1% fee is pretty high compared to others.