With cryptocurrency going mainstream and getting legitimized here and there, it is only a matter of time before a huge population wants to get in on the action. Marketplaces that allow people to trade, buy, and sell digital assets are becoming crucial.
And right on cue, to fulfill the adage: “If there’s a demand for it, someone will try to fill up that demand.” As for this case, cryptocurrency exchanges came into the picture to remedy this marketplace demand.
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. Only stocks that are listed on an exchange can be purchased or sold. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.
In the digital world, cryptocurrency exchanges provide similar services to banks and Stock exchanges.
Still, as with there are people who still treat cryptocurrencies with trepidations and agitations. For some people, cryptocurrencies and cryptocurrency exchanges are treated as borderline illegal online marketplaces.
They believe that these places can facilitate the trade of unregistered securities. They believe that crypto exchanges can be places where suspicious people can launder money and have limited AML/KYC 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.
For example, there is a good chance that law enforcement may shut down an exchange. When this happens, these exchanges might not be able to return your money because some operate illegally in gray areas.
There is also the possibility of your funds getting locked in the exchange, leaving you with no way of withdrawing or even selling your cryptocurrency and other digital assets. This could happen when your cryptocurrency exchange is seized or under investigation by the authorities.
Lastly, there is a very big possibility of you losing your money from speculating cryptocurrency and then having the rug pulled under you by the founders or founding team of these exchanges. This is especially true if these founders are scammers or hustlers who excel at what they do.
It is important to remember that cryptocurrency and any other related technology are always a risky business. 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. You can still check our article below for a complete overview of Binance. It also compares it with some other competitors.
Binance Exchange Dogelon Mars Binance Reddit
Binance Overview
Binance is the most popular cryptocurrency exchange in the entire world. It offers the largest number of trading pairs and has the highest trading volume among all crypto exchange services.
Binance was founded in 2017 by Chinese-Canadian entrepreneur and business executive Changpeng Zhao. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
The company didn’t have a place to call home back then.
However, there is current news that the company was headed to Malta, where it is said to be currently based. That said, Binance serves most countries around the globe, except for the United States, where a specific version of the platform, Binance.US, had to be established.
Binance’s popularity with its user base is because of its low fees, a large number of available cryptocurrencies, as well as its innovative products. Binance has many products that are based upon cryptocurrency.
These products/services offer the opportunity to earn, trade, stake, derive and NFTs. You can even get loans, do payments, and even avail of credit cards from the service.
Cryptos Under Binance
Binance has its own tokens and cryptocurrency. There are actually two.
The BUSD is the first. It is a fiat-backed stablecoin issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. The company created BUSD as a means to provide a more stable cryptocurrency alternative for traders and investors wanting to avoid the volatile nature of the digital asset market.
BNB is the second. It was previously known as Binance Coin. The initial coin offering (ICO), launched it in 2017. This was to provide an asset for users back when Binance was still very young. It was originally an ERC-20 standard token that was built on the Ethereum blockchain.
Currently, it is a native token of the Binance ecosystem, where it plays an essential role by powering operations. It’s used to pay trading, listing and exchange fees as well as other expenses that users incur on the platform.
Binance Perks
- Low Fees
This is why Binance is the most popular crypto exchange platform in the world. Binance trades can be done for free. The platform charges a maker/taker fee. Fees will vary depending on trading volume and Binance Coin (BNB) balance.
That said, the platform still charges fees for some services, such as withdrawal and payment types.
- Large Selection of Cryptos
The number of cryptocurrencies on the market will determine how good a crypto exchange platform is. Binance is the largest crypto exchange platform. This means that it has a lot of digital currencies.
Decentralized finance tokens (DeFi) are also available.
Some of the 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
For those wanting to get more mileage out of their investments, Binance allows you to earn more from your crypto assets. Customers can try to earn income via adding liquidity to pairs of tokens. There are also staking options on the platform.
However, these opportunities come with a lot of risk. Users must be able to recognize and weigh the risks. 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 is easier to place limit orders to buy or sell crypto at a certain price.
Charting tools can also be extremely useful for veterans traders when making trade decisions. You can even sell leveraged tokens to make trading easier.
Binance Trading Experience
Binance’s overall trading experience is excellent. It provides various trading tools that allow for smoother and faster transactions. You can even use real-time charts with moving averages, which makes it easy and accessible.
When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. It’s possible to do this through the Binance App or the Binance website.
Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. Even those who want to keep track of their trades will only need to access their trade history, which is also available on the exchange platform.
Even how they view their trading can be customized. This 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. Whenever you use BNB for your trades, you get a 25% discount on the trading fee. Binance offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).
This chart can be used to quickly reference Binance’s fees.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | Below 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4999,999 with at least 25 BNB | 0.09%/0.10% |
| 2 | 5,000,000 to 19,999,999 and at least 100 BNB | 0.08% / 0.10% |
| 3 | Between 20,000,000 and 119,999.999, with at least 250 BNB | 0.07% / 0.10% |
| 4 | 120,000,000 to 199.999.999 with at least 500 BNB | 0.07% / 0.09% |
| 5 | 200,000,000 to 499,999,999 and at least 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 99,999,999999 and at most 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 | Between 2,500,000,000 and 4,999,999.999999999 with at least 4,500 BNB | 0.03% / 0.05% |
| 9 | More than 5,000,000,000, and at least 5,500 BNB | 0.02% / 0.04% |
Binance Issues
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.
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. That said, the site reimbursed customers through its “Secure Asset Fund for Users(SAFU).
It wasn’t as bad as 2021. It’s not true to say that Binance had a difficult year in 2021.
The United States Department of Justice and Internal Revenue Service, on allegations of money laundering and tax offenses, investigated the company.
It 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.
In October the same year, another hacker attacked its network. After discovering an exploit between two different blockchains, the company had to suspend transactions and funds transfers temporarily. The issue had been contained as soon as it popped up.
From the total $570m stolen, approximately $100m of funds were not recovered.
Binance Pros and Cons
Pros
- Low fees
- Easy Access to Passive Income Opportunities
- Wide Selection of Cryptocurrencies
- Sophisticated trading tools
- There are many ways to deposit money
- Flexible Trading Options and Order Types
Cons
- Non-beginner friendly. 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.
- Not available in the United States because of regulatory issues. The US-specific service Binance U.S., which is a limited version of the service, is not available in all states.
- There is no built-in digital wallet
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance Versus Coinbase
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, or Coinbase Global, Inc, is an American publicly traded company that operates as a cryptocurrency exchange platform. The platform is a distributed business, so all employees work remotely.
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.
While Coinbase now sits among the pantheon as the biggest crypto exchange in the United States and one of the biggest worldwide, its beginnings were not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Dogelon Mars Binance Reddit
Cryptos Under Coinbase
Coinbase does not have its original coin or cryptocurrency. That said, the platform does support over 100 cryptocurrencies. As the need arises, they add new cryptocurrencies regularly.
As such, here is a glimpse of the different cryptocurrencies coinbase has to offer:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Uniswap (UNI)
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- DAI (DAI)
- SushiSwap (SUSHI)
Coinbase Perks
- A wide selection of cryptocurrency
Coinbase is the largest cryptocurrency exchange in America. This is because of the vast and varied cryptocurrencies available in the market.
From a Bitcoin (BTC) focused exchange. Coinbase now offers over 150 different cryptocurrency types. In fact, you can trade currencies like Bitcoin (BTC) and other major coins for smaller and newer digital tokens.
In fact, few cryptocurrency exchanges could compete with Coinbase in terms of selection in the U.S. Market.
- Simple and Advanced Trading
Coinbase offers two trading tools to make it easier for users to access their accounts. Users can choose between a simple trade option or an advanced trading option.
The simple trading option features a straightforward design that is easy to use, especially 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.
To avoid high fees, it is highly recommended to trade in advanced trading.
- Earn Free Crypto
Coinbase offers a cool feature to help customers earn more cryptocurrency. Coinbase Earn allows users to earn crypto 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
As lightly touched above, coinbase has a library that is a well of educational resource. These resources range form the basics of crypto, tips, and tutorials to more complex stuff and even market updates. It is for this reason that Coinbase is the ideal platform for those just starting to invest 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 to stake certain cryptocurrencies like Solana (SOL) and Ethereum (ETH).
Staking is how many cryptocurrencies verify their transactions and allows participants to earn rewards on their holdings. You commit your crypto assets to support a blockchain network and confirm transactions when staking in cryptocurrencies. Dogelon Mars Binance Reddit
As said, staking on cryptos will give you certain free rewards. Of course, not all cryptos are eligible for this. 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. You can even choose which crypto from a rotating list you earn for this rewards
Coinbase Trading Experience
If Binance provides low fees and more advanced training tools, Coinbase is geared towards a more different type of user. Coinbase targets people just starting their crypto journey.
This platform provides tools to enable crypto traders to quickly and easily trade. This is linked to their original goal of “making Bitcoin easier to use.”
They are determined to realize this vision and allow users to earn cryptocurrency by watching tutorial videos that are geared towards beginners.
This doesn’t mean veteran traders only have beginner tools to play with. Coinbase Pro is the perfect platform for you. This platform is designed for experienced traders. Dogelon Mars Binance Reddit
Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. Examples include the ability to choose among several order types, such as stop or limit order and margin order.
Users can also access real-time charting tools, trade history, order book, and price charts. This can help them create more informed decisions when moving their positions and doing their trades.
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 with a Coinbase account can already access and use the pro version.
Coinbase Trading Fees
Coinbase doesn’t disclose their fees and pricing. 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. 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 fees are also based on factors such as the selected payment method, market conditions (volatility and liquidity), and even the order size.
- Coinbase charges fees for transactions executed on external blockchain networks that support cryptocurrencies. Dogelon Mars Binance Reddit
That said, Coinbase Pro’s pricing model is more straightforward. It is determined by the customer’s monthly trading volume as well as the liquidity of the asset at purchase. Also, Coinbase pro users are required to make deposits and withdrawals through a bank account.
The chart below gives an idea of the fees you can expect on the main coinbase platform:
| Trade Size | Coinbase Fee |
| $10 or less | $0.99 |
| $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| From $50 to $200 | $2.99 |
Trades 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 |
| 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.
This was due to the fact that cryptocurrency payments were classified as “cash advances”, and banks and credit card issuers may begin charging cash advance fees for these purchases.
In a Financial Times article, Visa, the credit card company, blamed Coinbase at first. However, it later rescinded those statements and clarified on the Coinbase blog that the “issue was not caused by Coinbase”
Coinbase received more customer complaints than ever in 2018, with an increase of over 100%. These complaints were mostly referred to as “money not available when promised.” Coinbase solved the problem by increasing customer service staff to decrease wait times.
Coinbase also participated in the first ever case of insider trading in cryptocurrency. The company’s former product manager shared information about tokens. Prosecutors were provided with all the information necessary for an internal investigation by the company.
Pros and cons of Coinbase
Pros
- It is very easy to use and user-friendly for people just beginning in cryptocurrency
- It supports a wide range of cryptocurrencies
- Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
- Offers simple and advanced trading depending on user preference
- Offerings a coinbase debit card that allows easy withdrawal of funds Dogelon Mars Binance Reddit
Cons
- Complex and convoluted fee structure that is also not transparent
- Some transactions attract high fees
- There are limited staking opportunities and interest possibilities.
- There are a bunch of altcoins missing from their selection
- Customer service issues
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Kraken
Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. It might seem that there is a big gap between these two platforms if we compare their ranks (Binance at the top and Kraken at the bottom), but there are more to it.
Binance.US users, for example, are severely limited by the fact that they cannot access Binance’s U.S.-based platform (Binance.US). Kraken, however, is readily available in the country.
These two platforms share many similarities, including both offering advanced trading options and low fees as well as mobile apps. 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. Dogelon Mars Binance Reddit
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.”
Jesse Powell, Kraken’s founder and former CEO, tweeted that the November 2022 FTX Controversy was a “”…Happy life, pay a fee for matching trades” A balance sheet is mostly Bitcoin, some ETH.
Kraken was co-founded in 2011 by the aforementioned Jesse Powell, who was an alumnus of California State University, Sacramento, with Thanh Luu. It was launched in September 2013 and offered bitcoin, Litecoin and euro trades. Additional currencies and margin trading were to follow.
Powell began working on Kraken as a possible replacement for Mt.Gox, another bitcoin exchange based in Shibuya, Tokyo, Japan. Before its 2014 collapse due to failed security audits, Powell was a consultant to the exchange.
Kraken had also joined other US Bitcoin players to form the “Committee for the Establishment of the Digital Asset Transfer Authority” as the industry’s self-regulatory group. Dogelon Mars Binance Reddit
Kraken was very successful in 2014. The company received a Series A investment of $ 5,000,000 from Hummingbird Ventures in March 2014.
It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. It has since chosen to help with the investigation of Mt. Gox, CEO 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.
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
Kraken supports several stablecoins, including Tether, USD Coin and Dai. A limited number of Kraken currency exchanges are also available in certain territories. This includes converting US dollars into Canadian dollars, Japanese yen, and Swiss francs. Dogelon Mars Binance Reddit
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. It is actually the only cryptocurrency exchange to have not been hacked.
This exchange, which is based in the United States, is the industry’s leader in terms security. As such, some in the industry have affiliated Kraken with physical security and financial stability. This is a claim Kraken is too proud to make.
- 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. Dogelon Mars Binance Reddit
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 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. 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. One sure factor, though, is that your fees will depend on your monthly trade history. 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.
- Strong Staking Options
Staking options within Kraken are pretty good. You can stake in over 15 cryptos. Users can earn as much as 20%, up to 0.25%.
Staking is the act that involves tying up your coins to contribute to the overall security of a particular blockchain and can be a great way for investors to earn a passive income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. Kraken Pro is the cheaper of these two exchanges. Both platforms are available to anyone with a Kraken account.
Kraken is a trading platform that’s geared towards intermediate-to-experienced users. However, beginners can still use the platform if they want. To learn the ropes, it is recommended that they begin with the Kraken central platform. Dogelon Mars Binance Reddit
Kraken allows verified accounts to quickly buy cryptocurrency from linked bank accounts. From there, selling or converting your crypto into your account is just a simple process. Inside the website, orders are done using a straightforward form, which will mostly only take a few seconds.
It is easy to purchase cryptocurrencies with your bank account balance. You don’t even need to fund your account first.
Two-factor authentication (2FA) is a security feature that you can use to protect your Kraken account. As such, you will need your device to log in to your account.
Kraken Pro, on the other hand is Kraken’s most advanced trading platform. It appears more complicated than the regular Kraken exchange. Kraken Pro is intimidating for new traders. It is well worth the effort. Dogelon Mars Binance Reddit
It includes more detail about assets, active charts and the ability to view open orders.
As stated above, Kraken also allows for lower fees. If you feel confident, you can trade the same trade with Kraken Pro. You’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. There are other factors that could affect the cost of the fees you will be paying.
Also, prices and fees will differ depending on your platform. Kraken Pro will always be cheaper than regular Kraken.
In normal Kraken, fees for instant purchases include 1.5% for most cryptocurrencies and 0.9% for stablecoins using the U.S. dollar or another stablecoin.
Additional fees will vary depending on how you fund your purchase. These prices range from 0.5% for funding with a bank account. Meanwhile, 3.75% + 25 Euro cents with a debit card, credit card, or digital wallet. Dogelon Mars Binance Reddit
Meanwhile, Kraken Pro’s pricing is pretty different. The fees for Kraken Pro are generally lower than those on the main Kraken platform. Fees will be calculated based on the volume of your trades over the past 30 days. Remember that transactions are subject either to a 0.16 maker fee or 0.26% taker fees.
Below is a general chart of their maker-taker fees in a 30-day volume in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
There really are not many issues concerning Kraken aside from disagreement with a work culture which is something the company has already worked on and moved on
Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.
That said, Kraken has its fair share of issues regarding government regulations.
In April 2018, Kraken refused to comply with an investigation by the New York Attorney General’s Office on issues about the measures taken by crypto exchanges to protect their customers from money laundering and market manipulation.
Kraken’s main reason is that doing so would be bad for business.
The Office of Foreign Assets Control began investigating the exchange in September 2021 for possible violations of sanctions by allowing trade with Iranian customers. 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 (BTC) withdrawal fees
- Offers a variety of educational materials.
- Most secure exchange in the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Luckily both modes can easily be accessed as long as you have a Kraken account.
- Kraken only accepts a few fiat currencies
- A few users complain about their accounts being hacked. Dogelon Mars Binance Reddit
- It is not available in all U.S. States
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus crypto.com
Binance and Crypto.com have become some of the most popular cryptocurrency exchanges. Both provide a variety of features such as low fees and staking as well advanced trading. It does not necessarily mean that they are identical.
While one exchange is better than another, that doesn’t mean you should always choose the highest-ranking exchange just for numbers. Plenty of factors are at play for why one is ranked higher than the other.
The better way to choose your crypto exchange is to examine both options and determine which one appeals to you more. 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. Dogelon Mars Binance Reddit
Crypto.com Overview
Crypto.com was founded in Hong Kong back in 2018. The founders of Crypto.com, Gary Or, Kris Marszalek and Rafael Melo originally called it Monaco. It only became Crypto.com when the company purchased a domain that cryptography researcher and professor Matt Blaze owned.
The sales might be on the bigger one, with Domain sellers valuing the domain at US$5 – 10 million.
As for the overall platform, Crypto.com does what most cryptocurrency exchanges does. It allows users to trade, invest, put a stake in some currency and much more.
You can also choose from over 250 currencies. There are reasonable fees and discounts for some customers, such as those who have large stakes in Crypto.com’s own coin, the Cronos (CRO).
Crypto.com’s 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.
Overall, we can consider Crypto.com as an all in one cryptocurrency platform that is perfect for investors and traders who want to do more than buy and hold. With Crypto.com, cryptocurrency can also be currency.
Cryptos under Crypto.com
In terms of selection, Crypto.com has a huge one available. You can trade spot with more than 250 currencies, and you can also staking. 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
As mentioned above, Crypto.com also has its coin called Cronos (CRO). 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. Dogelon Mars Binance Reddit
Crypto.com Perks
- One-Stop Shop
Crypto.com has a lot going for it aside from being just a plain old trading platform. You can trade cryptocurrencies and buy and sell them on the exchange.
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. One example is depositing your money into your account via an electronic bank or wire transfer.
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”.
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, GBP, and EUR, among others. But, just because a fiat currency is listed on Crypto.com, does not necessarily mean it will be available for you to trade. You will be limited in your ability to trade certain fiat currencies due to the country you live in.
- Cashback Cards
One of the 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.
The lowest available tier for those planning to access this card would be their Ruby Steel card, which also offers a 1% money back from your contribution. To be eligible, you must have at least $400 in stake.
Meanwhile, those who own deeper pockets can avail of their top-of-the-line, Obsidian tier. This earns you 5% cash or crypto back, along with loads of extra bonuses. That said, you must have at least $400,000 worth of stake for CRO to qualify for this. Dogelon Mars Binance Reddit
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. Crypto.com accounts can earn high interest rates. In fact, Crypto.com have some of the best high-yield savings accounts in the market.
You may have to keep a lot of cash in CRO to benefit from this perk, but the maximum interest you can earn is below 10%.
You can get a rate of interest depending on many factors, including the time you spend with your money, how much currency you have saved, and how much CRO you stake.
The app allows you to increase your interest rate in many ways. One of them includes Staking more than 4,000 CROs. It is even possible to get more if you stake up to 40,000 CRO, but that may be asking for too much.
If you make a deposit for a term of one month or more, the interest rate can be increased to 3 months. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins are usually tied to an external reference. Some can be pegged to the U.S. dollar. These stablecoins can help you earn more interest.
That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. 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.
- Gift 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. Like Spain, Norway, Singapore, and the United Arab Emirates.
Brands include Macy’s, Barnes & Noble, Airbnb, and many more.
The amount of cashback you get will still depend on how much CRO you have staked and what type of company it is.
Crypto.com Trading Experience
When using Crypto.com, your trades will mostly revolve around its mobile app, which serves as the platform’s central hub. For those who have been trading stocks on their phone or tablet before, the experience will be easy and similar to what you would expect. Dogelon Mars Binance Reddit
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. In the case of Crypto.com’s app, it shares a relatively simple set of data that aims not to intimidate or overwhelm the users. The charts just contain enough information needed for users to learn how the blockchain and the currency work, something they might need before buying.
In terms of fiat currencies, Crypto.com has a fair selection. The most popular are the Australian (AUD), Canadian (CAD), and the euro (EUR) dollars, as well as the British pound sterling and the U.S. Dollar (USD), which are all very popular. 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. They are actually among the few that offer the lowest trading fees on the market. Trade volume can be higher and qualify for lower fees, as low as 0.4% for makers or 0.1% for takers. This is even with no CRO.
Users who have at least 5,000 CRO in their bank account can get discounted trading fees. Rates go lower with larger stakes.
However, Crypto.com users who are newer than 25 000 USD will be charged 0.4% for trades that have a monthly volume less than $25,000.
Below is a table showing fees for spot and margin trades for customers with no CRO stake amount.
| 30-Day Spot Trading Volume (USD) | Maker | Taker |
| 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% |
| More than 5,000,000 or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than or equal to 10,000,000 | 0% | 0.0500% |
The table below shows the maker and taker rates of those with less than 100 CRO (3% discount).
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Less than 250,000 | 0.0728% | 0.728% |
| Greater than or equal to 250,000 | 0.0679% | 0.0698% |
| Greater than or equal to 1,000,000 | 0.0631% | 0.0669% |
| More than 5,000,000 or equal to 5,000,000 | 0.0582% | 0.0631% |
| Greater than or equal to 10,000,000 | 0% | 0.0485% |
As said, the higher your CRO stakes are the bigger your discounts. Stakes over 50,000 CRO are exempt from maker fees. 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.
On January 2022, Crypto.com was the victim of a serious hack. According to reports, the company had lost US$15 Million worth of Ether. After users reported suspicious activity to their accounts, the company lost US$15 million worth of Ether. The company immediately halted withdrawals, which were then restored. The company 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. 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.
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
- Very low fees
- Provides lots of avenues for paying with crypto
- Converts money easily
- Visa card perk with great cash back rewards
- Allows you to earn interest on crypto
- Pretty big selection of cryptocurrency coins and tokens Dogelon Mars Binance Reddit
- Strong security
Cons
- User interface and the exchange itself is pretty difficult to navigate
- Coins are not universally available, and availability will be dependent on country and location
- Customer service is pretty poor and lacking in some areas
- There is a shortage of educational resources.
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Kucoin
Comparing KuCoin to Binance side-by-side, it is clear who the winner is. It is Binance, and that is by a lot. KuCoin, despite being one of the earliest platforms for trading cryptocurrencies, has been left in the dust by the likes of Kraken and FTX (at least before they went bankrupt).
As of today, while KuCoin still has its users and most traders generally avoid the platform like the plague. Many negative reviews have been written about the exchange, with a variety of reasons. Some are semantics while others are alarming.
KuCoin Overview
KuCoin is a crypto exchange platform launched in 2017 by tech geeks Micahel Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhum, and Linda Lin. The company was established in 2013.
KuCoin was founded by MichaelGan, who was eager to learn more about blockchain and the potential applications. Eric was his boss and he told him about Bitcoin. He then got involved in the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto changed the global financial system.
By the end of 2013, Michael and Eric wrote down the first code of what would become KuCoin in a cafe. This was 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. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. Dogelon Mars Binance Reddit
It was also one of the main reasons why the company was founded in the first place, to give fewer mainstream currencies their spotlight and allow people to access them.
These less-known coins can be more risky than the stable and well-known ones. As such, people need to understand what people are getting themselves into.
KuCoin 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. 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. KuCoin is the ideal platform for traders looking to diversify into less-popular crypto.
After all, it is one of the main missions of KuCoin, to give smaller and newer cryptocurrencies a fighting chance. 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 also has 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. Dogelon Mars Binance Reddit
These fees will depend on your transfer mode and the third-party app you use.
- Earn through interest on your crypto
KuCoin, like most cryptocurrency exchanges lets you make money with your crypto. In the case of KuCoin, the service is called KuCoin Earn.
KuCoin Earn gives you two ways to make money from your crypto. First, you can take coins through Pool-X, a company backed by KuCoin. The second way is to loan out your crypto and get paid the interest.
Your interest rate for borrowing crypto is higher than the one you would get from a savings account. That said, the coin and its demand still affect how much you earn.
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. 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 offers veteran users a variety of toys and additional features. 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. Rather, you can have a computer do that for you. This is very convenient because you don’t always have to be online in order to run your business.
That said, using bots can be pretty risky. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.
As such, the convenience bots provide may not be worth the uncertainty of how they’re handling your assets.
KuCoin Trading Experience
KuCoin can be accessed online or via an Android and iOS mobile application. Each platform offers a variety of tools and features that you can use to trade on it.
After logging into your KuCoin account on mobile or desktop, you can access KuCoin’s dashboard or front page. Users can view markets, trade, buy, lend, or trade cryptos from there.
The platform supports four order types. These include market order, limit or stop-limit orders, and stop-market orders.
Users have access to orders as well as margin, futures and P2P trading. You can stake your crypto to earn some back or get a discount on trading fees. Dogelon Mars Binance Reddit
Recently, the exchange has just added a Trading Bot feature to help simplify the whole 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 showing which trading level corresponds with 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 will be charged based on the base currency of the trading pairs. KCS users will receive 20% off for paying fees.
Also, KuCoins has a 24h withdrawal limit.
| Trading Fee level | Maker/Taker | 24h Withdrawal Limit |
| LV0 | 0.1% / 0.1% | 200 |
| LV1 | 0.09% / 0.1% | 200 |
| LV2 | 0.07% / 0.09% | 200 |
| LV3 | 0.05% / 0.08% | 200 |
| LV4 | 0.03% / 0.07% | 200 |
| LV5 | 0% / 0.07% | 500 |
| LV6 | 0% / 0.06% | 500 |
| LV7 | 0% / 0.05% | 1000 |
| LV8 | -0.005% / 0.045% | 1000 |
| LV9 | -0.005% / 0.04% | 2000 |
| LV10 | -0.005% / 0.035% | 2000 |
| LV11 | -0.005% / 0.03% | 3000 |
| LV12 | -0.005% / 0.025% | 3000 |
KuCoin Issues
KuCoin doesn’t have the best reputation in this industry, to be honest. You can see the extent of dissatisfaction by just looking at the reviews.
In Trustpilot reviews, it got an average of just 1.7 out of 5 stars out of 600 reviews. Many of the negative reviews focus on customer service, withdrawals, or even deposits. Dogelon Mars Binance Reddit
KuCoin has also been accused of market manipulation, with some even saying their assets randomly disappeared from their accounts. This can be a very big problem, especially when we talk about assets, money, and finance.
Security is another issue.
While KuCoin is a generally secure crypto exchange, it was subject to a major hack back in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Cons
Pros
- Low fees
- Strong user base
- Large range of coins
- Allows you to earn interest on your crypto
- Advanced trading features
- Good customer service
Cons
- Not licensed in the U.S.
- Limited payment methods
- Can be intimidating and overwhelming for new traders
- Has limited education resources
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
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.
Bittrex was once one of the top cryptocurrency exchanges in the world. Still, Binance surpassed them after the former implemented stricter Know Your Customer (KYC) and anti-money laundering policies.
Bittrex Overview
Bittrex is a cryptocurrency exchange that aims to operate a world-class service with focus and trust.
It was founded in 2014 by three cybersecurity engineers from Amazon: Bill Shihara, co-founder and CEO; Richie Lai, co-founder, and chief information officer; and Rami Kawach, co-founder and chief technology officer. Its headquarters can be found in Seattle.
In the beginning, the platform only offered crypto-to-crypto trading, but it soon introduced fiat-to-crypto trading. Dogelon Mars Binance Reddit
Despite their new fiat trading platform, they offer many cryptocurrencies and stablecoins. They are also available in 46 states of the United States, except Hawaii, New York, Vermont, and Vermont.
Cryptos under Bittrex
Bittrex offers a variety of stablecoins and cryptocurrencies on their exchange. 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. Customers looking for niche, but more risky trades will find it attractive.
- Low fees
Bittrex also offers low fees, which start at 0.35%. This can get lower depending on the trade volume. It is still not the lowest on the market. Some exchanges have lower fees compared to them.
- Fast trading executions
Bittrex offers a unique trading engine that speeds up trades, which is unlike other services. This engine even works well despite high demand. This is a great way for investors to take advantage of volatile markets like cryptocurrency’s price fluctuations.
- Cardano staking
Cardano (ADA), cryptocurrency holders would be thrilled to have this platform. Bittrex lets users stake their Cardano cryptocurrency throughout the exchange. This can earn them up to 5.5% in rewards. Dogelon Mars Binance Reddit
- 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.
Bittrex has an impressive library of educational resources available 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. Dogelon Mars Binance Reddit
- 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 someone who is a serious crypto whale could net you sizable 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 allows users to quickly trade or buy crypto using 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. 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 uses a simple maker/taker fee structure, making their fees more transparent than most exchanges. You still receive fee discounts for trades that have higher volumes. Overall, these fees are pretty low but are not the lowest available in the market.
| 30-Day Volume (USD) | Maker | Taker |
| Below $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| 100,000 – 1 Million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has been on the receiving end of negative reviews from its users. Most of these issues stem from account lockouts, frozen assets, and problems with identity verification. Most of these problems are common across many crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros and Cons
Pros
- Highly secure
- A wide range of cryptocurrency available
- Fairly low fees
- Advanced trading tools
- Pretty helpful educational content
Cons
- Mediocre and mostly unhelpful customer support
- For beginners, it can be difficult
Binance versus eToro Dogelon Mars Binance Reddit
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.
But there is one thing that separates them. They are two very different platforms. Binance is a cryptocurrency exchange, eToro is not. Rather, it is a cryptocurrency broker.
Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other services. Meanwhile, a cryptocurrency broker sells crypto alongside other investment products like stocks and fractional shares.
eToro Overview
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. The Tel Aviv-based company was actually an online forex broker originally under RetailFX. This was 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 was only able to get involved in the cryptocurrency market after it added support BTC in 2014. CFDs could now be bought and sold 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). Dogelon Mars Binance Reddit
Also, in 2018, eToro went full steam on the crypto industry. The platform was expanded with more currencies and coins. The company even launched its digital asset platform, eToroX, and even its crypto wallet.
Cryptos under eToro
eToro 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. It was a feature that existed before the platform dabbled in the crypto industry. Dogelon Mars Binance Reddit
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 just 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. 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.
- 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 is available as a simple web-based platform and a well-designed mobile app.
It is easy to get started on the platform by depositing fiat currency using a bank account or debit card. Once they have done that, they can trade instantly.
An intuitive trading tab gives a view of current prices and buys, sells, and even 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. It does not offer advanced charting and conditional orders.
The platform is limited in its ability to offer cryptocurrency fairs due to a lack of options.
It is also eToroX, the flagship digital asset platform with all the bells and whistles users would expect from an institutional-grade exchange.
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 pay a flat fee of 1% for each crypto trade. The platform refers to this 1% market fee as a bid-ask spread. This fee is charged when users close or open positions.
However, 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.
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. 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:
Margin positions for all leveraged crypto position should be changed from leveraged to non-leveraged. Otherwise, they will be closed in less than four hours.
This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. This led to the revocation of the eToro licence in Cyprus.
eToro was also in a feud with Redditors of /r/wallstreetbets after the GameStop short squeeze.
eToro Pros and Con
Pros
- A platform that is already established
- Regulated in numerous jurisdictions
- CopyTrading, a unique feature only available on the platform, is an exclusive feature.
- Has more to offer outside of crypto trading
- Transparency in the fee
Cons
- Stock, ETF, and cryptocurrency trading only available in 44 U.S. states
- Margin trading not available to U.S. users
- There are a few cryptocurrencies available.
- The 1% fee is quite high in comparison to other fees.