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.
To address this market demand, cryptocurrency exchanges were created.
A cryptocurrency exchange, by definition, is an online platform where users can trade one type of digital asset for the other. These exchanges will be based on the market value of the given assets.
In the real world, banks are financial institutions that are licensed to receive deposits, transfer funds, and store money for their clients. The banks regulate money. They are the only legal place offering the right to exchange one fiat currency for another to its customers.
Meanwhile, a stock exchange is a facility where stock brokers trade company stocks and other securities. Stocks can only be bought or sold only if they are listed on an exchange. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.
In the digital world, cryptocurrency exchanges provide similar services to banks and Stock exchanges.
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.
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.
Some of these claims may not be entirely true. Just as with dealing with cryptocurrencies in general, using cryptocurrency exchanges come with its own inherent risks.
There is a chance that law enforcement will close down an exchange. These exchanges may not be able return your money if they are shut down by law enforcement because they operate in grey areas.
You may also be unable to withdraw or sell your cryptocurrency and digital assets due to your funds being locked in an exchange. This can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper authorities.
There is also the possibility that you will lose your money by speculating in cryptocurrency, and then have the rug pulled under your feet by the founders of these exchanges. This is especially true if these founders are scammers or hustlers who excel at what they do.
Remember, when working with cryptocurrency and anything related to them, everything is always a gamble. 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. To get a comprehensive overview of Binance, you may still want to check out our article below, which compares it to some competitors.
Binance Exchange How To Buy Axs On Binance
Binance Overview
Binance is the most popular cryptocurrency exchange in the entire world. It has the highest trading volume of any crypto exchange service and offers the most number of cryptocurrency trading pairs.
Binance was founded in 2017 by Chinese-Canadian entrepreneur and business executive Changpeng Zhao. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
The company didn’t have a place to call home back then.
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 also has its own set of tokens and cryptocurrencies. 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. Formerly called Binance Coin, it was launched in 2017 through an initial coin offering (ICO) as an asset for users when Binance was still in its infancy. It began as an ERC-20 standard token built on the Ethereum blockchain.
It is currently a native token in Binance, where it powers operations. It’s used to pay trading, listing and exchange fees as well as other expenses that users incur on the platform.
Binance Perks
- Low fees
This is why Binance is the most popular crypto exchange platform in the world. Binance trades can be done for free. The platform 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 Selection of Cryptos
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.
There are even decentralized finance (DeFi) tokens available, as well as stablecoins, altcoins, and other popular cryptos.
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)
And many more.
- Multiple ways to Earn
Binance is a platform that allows users to make more money from their crypto assets. Customers can earn income by adding liquidity to token pairs. There are also staking options on the platform.
However, these opportunities come with a lot of risk. Users must be able to recognize and weigh the risks. That said, trading and dealing with crypto is already risky in itself.
- Advanced trading tools
Lastly, Binance would not be called a crypto exchange platform if it were without trading tools.
Binance offers advanced trading tools that make it easy to tailor trading options. It makes it easier to set limit orders to buy and sell crypto at a specific price.
Charting tools can also be extremely useful for veterans traders when making trade decisions. There are even features that allow users to sell leveraged tokens and make trade easier.
Binance Trading Experience
Binance’s overall trading experience is excellent. You can trade with Binance using a variety of trading tools, which allow for faster and more efficient 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. Rather, you can use Binance however you want. You can do it through the Binance App, the Binance website, or even the Binance desktop app.
Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. Anyone who wants to track their trades can access their trade history on the exchange platform.
Even how they view their trading can be customized. This allows for easier comprehension of data. Users can even choose how they want these data presented. This makes it easier for users to identify the most important.
Binance Trading Fees
Binance trading fees will depend on the customers’ trading history and trading volume in the past 30 days. The amount of BNB that the user has will also be important.
The fees you pay will depend on whether you are a taker or a maker. Makers (those that add liquidity to the market) tend to be favored and get lower fees than takers (those that remove liquidity orders from the market).
Binance uses its native currency to facilitate transactions. Whenever you use BNB for your trades, you get a 25% discount on the trading fee. Binance also offers 0% trading on selected Bitcoin and Binance USD (BUSD) pairs.
The chart below can be used as a quick reference for Binance’s fees.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | 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 with at least 500 BNB | 0.07% / 0.09% |
| 5 | Between 200,000,000 and 499,999.999,999 with at least 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 99,999,999999 and at most 1,750 BNB | 0.05% / 0.07% |
| 7 | 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
Despite being one of the biggest names in crypto, Binance has its issues and controversies.
The year 2019 was a bad 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).
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. In an effort to combat crime, these data contained names and addresses.
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.
However, about $100m in funds remained unrecovered from a total of $570m that was stolen.
Binance Pros & Cons
Pros
- Low fees
- Simple Access to Passive Income Opportunities
- Large Selection of Cryptocurrencies
- Trading tools that are sophisticated
- There are many ways to deposit money
- Flexible Trading Options and Order Types
Cons
- Non-beginner friendly. For beginners, many features can be difficult to access and use.
- Regulation Issues with many countries, including major ones 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.
- There is no built-in digital wallet
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Binance Versus Coinbase
There are no two different cryptocurrency platforms whose approach can differ as much as Coinbase and Binance.
The one is an American-based exchange and is suitable for beginners. It has a simple interface with limited transaction types and is best suited for veterans.
The crux of the difference between Coinbase and Binance is who their main audience is and how they cater to these people.
Coinbase Overview
Coinbase, also known as Coinbase Global, Inc, a publicly traded American company that acts as a cryptocurrency exchange platform. It is a distributed company, and as such, all people employed by the platform operate via remote work.
The company doesn’t have a physical headquarters. The company used to have its headquarters in San Francisco. However, this palace was demolished and the company moved to remote-first.
Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. He started coinbase by enrolling in the Y Combinator startup incubator program, where he received a $150,000 cash infusion.
Later on, co-founder Fred Ehrsam joined him after noticing Armstrong’s post on Reddit. This was back in the days when bitcoin was only $6 and was only known to “a few nerds online” (Ehrsam’s words not mine).
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. This was the impetus behind Coinbase.
While Coinbase now sits among the pantheon as the biggest crypto exchange in the United States and one of the biggest worldwide, its beginnings were not glamorous. Coinbase was actually founded in a shared two-bedroom apartment. How To Buy Axs On Binance
Cryptos Under Coinbase
Coinbase doesn’t have any original coins or cryptocurrency. That said, the platform does support 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. The market offers a wide range of cryptocurrencies.
From a Bitcoin (BTC) focused exchange. Coinbase has grown to offer over 150 types of cryptocurrency on the platform. You can even trade Bitcoin (BTC), and other major currencies, for smaller or 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
To make the platform more accessible, Coinbase provides two separate trading tools that users can access in their accounts. You can choose from a simple or advanced trade option.
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
Coinbase offers a cool feature to help customers earn more cryptocurrency. Coinbase Earn is Coinbase’s feature that lets users earn free crypto in exchange for learning more.
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 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.
This Coinbase App is not just something that is not some garbage or bloatware. It is legit and has high ratings on both the Apple App Store and Google Play Store.
- Crypto Rewards
Your Coinbase account can allow you to earn interest on many cryptocurrencies. Coinbase automatically pays interest on certain stables like USD Coin (USDC).
This allows you to stake certain cryptocurrencies like Solana (SOL) and Ethereum (ETH).
Staking allows participants to receive rewards for their crypto assets. It is how many cryptocurrencies verify transactions. When you stake in crypto, you commit your crypto assets to support the blockchain network and verify transactions. How To Buy Axs On Binance
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
Coinbase lets users trade, but also allows them to access their hard-earned wealth and use it with the Coinbase card.
A Coinbase account allows you to apply for a Coinbase Card, which is a prepaid Visa debit credit card that can be linked to your Coinbase balance. It allows you to spend cryptocurrency to purchase certain services, especially those that accept Bitcoin or other crypto payments.
What’s more, using the Coinbase card gives you a chance to win crypto rewards. 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’s target market is those just beginning their crypto journey.
The platform offers tools that allow investors new to crypto trading a fast, easy, and secure way to trade. This is linked to their original goal of “making Bitcoin easier to use.”
They are determined to realize this vision and allow users to earn cryptocurrency by watching tutorial videos that are geared towards beginners.
However, this doesn’t mean that veteran traders have only beginner tools to use. For that, Coinbase offers Coinbase Pro. A platform that is specialized for seasoned traders. How To Buy Axs On Binance
Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. You can choose from several order types such as stop, limit or margin orders.
Users can also access real-time charting tools, trade history, order book, and price charts. This can help them create more informed decisions when moving their positions and doing their trades.
Although it states pro on the can, that doesn’t necessarily mean users will need to pay a fee for Coinbase Pro. There is no such fee. 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. You will still be able to see the cost of entering a trade so that you are aware of what you will have to pay.
This is where coinbase falls short of the rest. The fee structure is too complicated and difficult to understand. It is said that the fee structure depends on three confusing factors:
- Coinbase charges a spread for cryptocurrency purchases and sales. There is a huge charge that rates will vary depending on market fluctuations.
- Coinbase claims that fees are based on a variety of factors, including the chosen payment method, market conditions (volatility or liquidity) and the order size.
- Lastly, Coinbase also charges fees to cover the costs of executing transactions on the external blockchain networks that support the cryptocurrencies in which it deals. How To Buy Axs On Binance
Coinbase Pro’s pricing structure is simpler. It is determined by the customer’s monthly trading volume as well as the liquidity of the asset at purchase. Coinbase Pro users must have a bank account to make withdrawals and deposits.
Below is a chart that shows you the fees you can expect from the main coinbase platform.
| Trade Size | Coinbase Fee |
| $10 or less | $0.99 |
| From $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| From $50 to $200 | $2.99 |
Trades over $200 are subject to a percentage-based fee instead of a flat fee.
The chart below gives an overview of Coinbase Pro’s fees.
| Pricing Tier | Taker Fee | Maker Fee |
| 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
Given how much of cryptocurrency is still in a legal area, there is a distinct chance that those involved in it will have their fair share of issues or controversies.
On February 16, 2018, Coinbase admitted that some customers were charged more than originally intended for their credit and debit purchases of cryptocurrencies. These problems started earlier in the month when banks and card issuers charged crypto purchase merchant category codes (MCC).
This was due to the fact that cryptocurrency payments were classified as “cash advances”, and banks and credit card issuers may begin charging cash advance fees for these purchases.
In a Financial Times article, Visa, the credit card company, blamed Coinbase at first. 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. 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.
Coinbase Pros and Cons
Pros
- It is very easy to use and user-friendly for people just beginning in cryptocurrency
- Supports a large number of cryptocurrencies
- Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
- Offers simple and advanced trading depending on user preference
- Offers coinbase debit card, which allows for easy withdrawing of funds How To Buy Axs On Binance
Cons
- Complex and convoluted fee structure that is also not transparent
- High fees on some transactions
- There are limited staking opportunities and interest possibilities.
- There are a bunch of altcoins missing from their selection
- Problems with customer service
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Binance or Kraken?
Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. It might seem that there is a big gap between these two platforms if we compare their ranks (Binance at the top and Kraken at the bottom), but there are more to it.
For example, US-based Binance users are severely hampered by the fact that they can only access Binance’s U.S. platform (Binance.US.) 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. Both platforms are targeted at experienced or veteran cryptocurrency traders.
Customers will ultimately decide which platform they prefer by choosing the most important features. Will it be Binance and their offers of slightly lower fees, a huge variety of coins, and additional way of managing your funds. Or will it be Kraken and its high regard for security standards, which won them a bank charter approval in Wyoming in 2021. How To Buy Axs On Binance
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 primary goal is to be the most secure and reliable crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”
Jesse Powell, Kraken’s founder and former CEO, tweeted that the November 2022 FTX Controversy was a “”…Happy life, pay a fee for matching trades” A balance sheet is mostly Bitcoin, some ETH.
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. 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 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. How To Buy Axs On Binance
Kraken was very successful in 2014. 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. It has since chosen to help with the investigation of Mt. Gox, 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.
He was replaced as CEO by Dave Ripley.
Cryptos under Kraken
Kraken supports at least 110 cryptocurrencies. The most well-known and popular currencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- Uniswap
Kraken supports several stablecoins, including Tether, USD Coin and Dai. A limited number of Kraken currency exchanges are also available in certain territories. You can convert US dollars into Canadian dollars, Japanese Yuen and Swiss Francs. How To Buy Axs On Binance
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. It is actually the only cryptocurrency exchange to have not been hacked.
As such, this United States-based exchange is the consistent leader in terms of security in the industry. As such, some in the industry have affiliated Kraken with physical security and financial stability. This is a claim Kraken is too proud to make.
- 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. How To Buy Axs On Binance
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 the only exchange that offers margin, stop orders and crypto short sales. Kraken also offers a dark pool, where high volume investors can trade anonymously.
Kraken allows you to leverage a currency pair by up to 5x. Some eligible pro clients can access up to $500,000 in the margin. Margin trading is still risky.
- The fees are affordable.
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’s even less expensive than other exchanges.
There are no set trading fees, which will differ from exchange to exchange. One sure factor, though, is that your fees will depend on your monthly trade history. While we will talk about fees in depth in another segment, it is important to know that fees are higher when using the instant buy feature rather than the pro platform.
- Optional Strong Staking
Staking options within Kraken are pretty good. Users have the opportunity to stake over 15 different cryptos. They can earn between 0.25% and upwards of 20%.
Staking 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. Anyone can access both platforms with a Kraken Account.
Kraken is a trading platform geared toward intermediate to veteran users in mind. The platform is accessible to beginners if they wish. To learn the ropes, it is recommended that they begin with the Kraken central platform. How To Buy Axs On Binance
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.
Their system makes it easy to buy cryptocurrencies using your bank account balance. Your account doesn’t need to be funded first.
In terms of security, you can keep your Kraken account safe by enabling two-factor authentication (2FA). 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. How To Buy Axs On Binance
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 will pay less but earn more in the end.
Kraken Fees
Kraken’s fees fall in the middle of the market, as we have already stated. It is not the lowest on the market and it is not the highest. There are other factors that could affect the cost of the fees you will be paying.
Also, prices and fees will differ depending on your platform. Kraken Pro will always have cheaper fees than the normal Kraken.
Fees for instant purchases are 1.5% for most cryptos and 0.9% for stablecoins that use the U.S. Dollar or another stablecoin.
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%. For a digital wallet, you can get a 25-Euro cents debit card, credit card or card at 3.75% plus 25 Eurocents. How To Buy Axs On Binance
Kraken Pro’s pricing however is quite different. Generally, fees are lower than the main Kraken platform. Fees will be calculated based on the volume of your trades over the past 30 days. Remember that transactions are subject either to a 0.16 maker fee or 0.26% taker fees.
Below is a chart showing their maker-taker fees for a volume of 30 days in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
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.
On the security side, Kraken has lived up to customer expectations and has proven itself with being the only major cryptocurrency exchange that has not been a victim of a major hack.
Kraken does have its share of problems with government regulations.
Kraken refused to cooperate with an investigation by New York Attorney General’s Office in April 2018 on questions about crypto exchanges’ measures to protect customers from market manipulation and money laundering.
Kraken’s main reason is that doing so would be bad for business.
The Office of Foreign Assets Control began investigating the exchange in September 2021 for possible violations of sanctions by allowing trade with Iranian customers. In late September 2021, Kraken was ordered to pay a fine to the Commodity Futures Trading Commission for $1.25 million allowing unregistered margin trading.
Kraken Pros & Cons
Pros
- Advanced and sophisticated features like margin trading and staking.
- Good and dependable customer service option
- Relatively low Bitcoin (BTC) withdrawal fees
- Provides a wide range of educational material.
- Most secure exchange in the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Luckily both modes can easily be accessed as long as you have a Kraken account.
- Kraken only accepts a few fiat currencies
- Some users have complained about having their accounts hacked. How To Buy Axs On Binance
- It is not available in all U.S. States
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Binance versus crypto.com
Binance and Crypto.com have become some of the most popular cryptocurrency exchanges. Both provide a variety of features such as low fees and staking as well advanced trading. 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.
It is better to look at both options before you choose the crypto exchange that appeals to your needs. You can choose to go with Binance, which has a wider range of crypto currencies, but you will also have the option to choose Crypto.com, which is more user-friendly and charges lower fees. How To Buy Axs On Binance
Crypto.com Overview
Crypto.com was established in Hong Kong in 2018 The founders of Crypto.com, Gary Or, Kris Marszalek and Rafael Melo originally called it Monaco. When Crypto.com purchased the domain of Matt Blaze, a cryptography researcher, it became Crypto.com.
Domain sellers might sell the domain for a larger sum, with the domain being valued at between US$5 and 10 million.
As for the overall platform, Crypto.com does what most cryptocurrency exchanges does. It lets users trade, invest, stake in a currency, and many other things.
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.
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
Crypto.com offers a wide selection of currencies. 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. How To Buy Axs On Binance
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 are comparable to many other sites.
In fact, there are transactions within Crypto.com that do not even require any fees. One example is depositing your money into your account via an electronic bank or wire transfer.
Crypto.com 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. Payments made with a debit card or credit card might also be subject to a cash advance fee for crypto purchases.
- Convert your Money Easily
Although this feature isn’t unique to Crypto.com it deserves to be listed. Users can convert fiat currencies to crypto with the Crypto.com app. 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. Your country of residence will still be a big factor limiting your ability to trade in certain fiat currencies.
- 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. Of course, you will need to have at least a $400 stake to be able to avail of this.
For those with deeper pockets, Obsidian tier is available. 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. How To Buy Axs On Binance
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
Crypto.com is more than a place to purchase tokens and coins. It’s a one-stop shop that offers everything crypto. Those who have a Crypto.com account can also earn high rates of interest. Crypto.com offers some of the highest-yielding savings accounts on the market.
To benefit from this perk you will need to have a lot of cash in your CRO. However, the maximum amount of interest you can earn is less than 10%.
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.
Using the app, you can increase your interest rate in multiple ways. One way is to stake more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.
You can also increase the interest rate if you deposit for a one-month term to three-month terms. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins usually peg their values to an external reference. Some can be pegged to the U.S. dollar. These stablecoins allow you to earn more interest.
Stablecoins, being stable, are less likely to appreciate in value than normal cryptocurrencies. They are less likely to lose value.
In the end, keeping your savings in crypto is still risky. Cryptocurrencies are still a volatile entity, and if it fails, your savings may be reduced… by a lot.
- Gifts Cards and Phone Top Ups
Gift Cards and Phone Top-ups are other ways that Crypto.com allows you to spend your crypto. You even earn cash-back benefits by buying gift cards from several popular brands.
Crypto.com sells gift cards from well-known brands in a variety of industries, including hotels, general retail, gaming, education, and entertainment from at least 41 different countries. Like Spain, Norway, Singapore, and the United Arab Emirates.
Macy’s and Barnes & Noble are some of the brands.
How much CRO you stake and what kind of company you are will determine how much cashback you receive.
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. 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. How To Buy Axs On Binance
The app in question shows the user’s portfolio and a list of their more popular assets. It includes everything needed that Crypto.com says it offers. With it, you can trade currencies, earn through staking in crypto, make payments with cryptocurrency, and even sign up for a Crypto.com credit card.
Where would you pick up a trading application without its chart tools. The Crypto.com app shares a simple set of data which aims to not overwhelm or intimidate users. These charts provide enough information for users to understand the cryptocurrency and blockchain, which might be useful before they buy.
Crypto.com offers a wide range of fiat currencies. 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
When it comes to trading fees, Crypto.com is pretty competitive in its pricing. In fact, they are among those who offer the lowest trading fees in the market. Trade volume can be higher and qualify for lower fees, as low as 0.4% for makers or 0.1% for takers. This is even with no CRO.
Discounted trading fees have become available when users hold at least 5,000 CRO in their wallet. Higher stakes result in lower rates.
That said, newer Crypto.com users without any CRO staking will pay a 0.4% fee on trades with a total monthly trading volume of less than $25,000.
Below is a table that shows fees for spot trades and margin trades for customers who have no CRO stake.
| 30-Day Spot Trading Volume (USD) | Maker | Taker |
| Below 250,000 | 0.0750% | 0.750% |
| Greater than or equal 250,000 | 0.0700% | 0.0720% |
| More than 1,000,000 or equal | 0.0650% | 0.0690% |
| More than 5,000,000 or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than or equal to 10,000,000 | 0% | 0.0500% |
Meanwhile, the table below is the maker and taker rates for those who have less a stake of than or equal to 100 CRO (3% discount)
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Below 250,000 | 0.0728% | 0.728% |
| Greater than or equal 250,000 | 0.0679% | 0.0698% |
| Greater than or equal to 1,000,000 | 0.0631% | 0.0669% |
| Greater than or equal to 5,000,000 | 0.0582% | 0.0631% |
| Greater than or equal to 10,000,000 | 0% | 0.0485% |
As stated, discounts are based on the CRO stakes. Maker fees for those with stakes greater than or equal to 50,000 CRO become zero. Those who have even more may even enjoy rebates.
Crypto.com Issues
Like most cryptocurrency exchanges, Crypto.com does have its fair share of problems.
Crypto.com was the victim in a serious hacker attack on January 20, 2022. According to reports, the company had lost US$15 Million worth of Ether. After users reported suspicious activity to their accounts, the company lost US$15 million worth of Ether. The company immediately halted withdrawals, which were then restored. The company stated that customer funds had not been lost in the process of restoring withdrawals.
Most of the problems with Crypto.com were due to the downturn of cryptocurrency in general. 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.
In November of 2022, their exchange token Cronos (CRO) has lost approximately $1 billion in value. This was in part due to the collapse of FTX. 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
- Convert money quickly
- Great cash back rewards with Visa card Perk
- Allows you to earn interest on crypto
- There are a lot of crypto coins and tokens available How To Buy Axs On Binance
- 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
When Comparing KuCoin and Binance side by side, the winner is pretty clear. It is Binance, and that is by a lot. KuCoin was one of the first platforms to trade cryptocurrencies. However, FTX and Kraken have taken over.
As of today, while KuCoin still has its users and most traders generally avoid the platform like the plague. The exchange has been troubled by many negative reviews, each with different reasons ranging from semantics to highly alarming.
KuCoin Overview
KuCoin was founded in 2017 by top tech geeks Micahel Gan and Eric Don. It is a cryptocurrency exchange platform that was launched by Top Lan, Kent Li. John Lee, Jack Zhum, Linda Lin, and John Lee. The company was founded back in 2013.
KuCoin started because of MichaelGan’s eagerness to learn about blockchain and its application possibilities. He discovered Bitcoin from his boss, Eric, and started getting in on the action.
He was shocked to discover that some of the largest cryptocurrency exchanges at that time were difficult to use for beginners. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto changed the global financial system.
Eric and Michael had already written the first code for KuCoin in a coffee shop by the end of 2013. This was the beginning of the platform that would become the “People’s Exchange”.
Cryptos under KuCoin
It is not surprising that the exchange is an older cryptocurrency exchange platform. This means there are a lot of cryptocurrencies that you can trade and buy.
Veteran traders looking for a wide selection of assets may appreciate this extensive selection of coins and tokens. In fact, it is one of KuCoin’s strongest aspects that the platform is a goldmine for altcoins and tokens. How To Buy Axs On Binance
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. People need to be aware of what they are getting into.
KuCoin also has it’s token, simply called KuCoin Token (KCS). Aside from that, some of the more popular coins available in the exchange platform include the following:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- XRP (XRP)
- Chainlink (LINK)
- Filecoin (FIL)
- Internet Computer (ICP)
- Wrapped Bitcoin (WBTC)
- USD Coin (USDC)
These are only a small selection of the many options available on the exchange platform.
KuCoin Perks
- A wide range of coins
KuCoin offers a wide range of tokens, coins and altcoins that are available for trading on their exchange. It is actually the top echelon for coins that are available on the exchange.
As such, one of its strengths is that it is easier to find smaller coins on these platforms than on other platforms. For traders who want to branch out into less popular crypto, KuCoin will be the perfect platform for them.
It is a key mission of KuCoin to help smaller and more recent cryptocurrencies succeed. In fact, they even have a Spotlight section, which promotes new currencies.
This is a good thing for users and the coin, as it allows them to start using a new currency earlier.
- Low fees
KuCoin also has low trading fees. Though it is not the lowest available in the market, it is still fairly low that it can compete with other exchanges.
In KuCoin, you don’t have to pay any monthly account fees. Withdrawal fees are in line with other exchanges, and depositing cryptocurrency to the service is free. However, depositing fiat money such as U.S. Dollars will require you to pay an additional fee. How To Buy Axs On Binance
These fees will depend on your transfer mode and the third-party app you use.
- Earn through interest on your crypto
Like most cryptocurrency exchanges, KuCoin lets you earn money through your deposited crypto. In the case of KuCoin, the service is called KuCoin Earn.
With KuCoin earn, you are given two ways to earn from your crypto. You can first take your coins through Pool-X which is backed by KuCoin. The second way is to loan out your crypto and get paid the interest.
Loaning your crypto nets your interest bigger than what you’d normally get with a saving account. However, your earnings will still be affected by the demand for your coin.
The exchange claims that you can make a lot of money this way, with an average earning rate of 8% to 12.5%. 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 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 allows you to trade your cryptocurrency without having to do it yourself. Instead, you can let a computer handle that task for you. This is pretty convenient as you do not always need to be online to do your business.
However, bots can pose a risk. Bots can be prone to glitches, and being too dependent on them may cost you a lot of opportunities. You don’t always know their strategies and perimeters when you trade with them.
The convenience bots offer may not be worth the uncertainty about how they handle your assets.
KuCoin Trading Experience
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.
In the case of order types, the platform supports four. These are market order, limit order, stop-limit order, and stop-market order.
Users have access to orders as well as margin, futures and P2P trading. If you want, you can even stake your crypto with the benefit of earning some back or a discount on some trading fees. How To Buy Axs On Binance
The exchange recently added a Trading Bot feature that will simplify the entire trading process.
KuCoin is a great cryptocurrency with many advanced features. This might be a boon to veteran traders. However, they might be a nightmare for beginners as desktop, and mobile platforms are not user-friendly.
KuCoin Fees
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 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.
Also, KuCoins has a 24h withdrawal limit.
| Trade Fee | 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. How To Buy Axs On Binance
KuCoin was also accused of manipulating the market. Some even claimed that their assets disappeared randomly from their accounts. This is a problem especially when it comes to assets, money and finance.
Then there is an issue of security.
While KuCoin is a generally secure crypto exchange, it was subject to a major hack back in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Con
Pros
- Low fees
- Strong user base
- Large range of coins
- Allows you to earn interest on your crypto
- 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
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Bittrex versus Binance
Bittrex and Binance are two crypto exchanges with more similarities than differences. Both offer similar features that users can enjoy. Despite being similar, the two platforms have major differences.
One key difference between these two platforms has to do with size. While Binance boasts about the largest amount of trading volumes among the different exchanges, Bittrex aims for a more scaled-down experience.
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, 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 are located in Seattle.
In the beginning, the platform only offered crypto-to-crypto trading, but it soon introduced fiat-to-crypto trading. How To Buy Axs On Binance
Despite their new fiat trading platform, they offer many cryptocurrencies and stablecoins. Also, they are available in 46 U.S. states, excluding Hawaii, New York, and Vermont
Cryptos under Bittrex
Bittrex has a wide selection of cryptocurrencies and stablecoins available in their exchange. Like most exchanges, this variety makes platforms very enticing to traders.
Their selections include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Chainlink (Link)
- Dogecoin (DOGE)
- Polkadot (DOT)
- Tether (USDT)
- Polygon (MATIC)
Bittrex Perks
- 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 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.
- Execution of fast trading
Bittrex offers a unique trading engine that speeds up trades, which is unlike other services. This even keeps up despite having a heavy demand. This is a great way for investors to take advantage of volatile markets like cryptocurrency’s price fluctuations.
- Cardano staking
Cardano (ADA), cryptocurrency holders would be thrilled to have this platform. Bittrex lets users stake their Cardano cryptocurrency throughout the exchange. You can get up to 5.5% in reward. How To Buy Axs On Binance
- Educational Content
We all know how arcane-ish finances in general are. 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.
They even have a breakdown of some of the cryptocurrencies available on the platform to give you an idea of what you are betting on and whether one is a good investment.
While it does not fully remove the risk in cryptocurrency, at least it helps users make more informed decisions. How To Buy Axs On Binance
- 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. It is an easy way to passively make crypto income, even though it is not reliable.
Bittrex Trading Experience
Bittrex trading is simple and straightforward. Logging in is all that’s required to access the trading dashboard. Of course, it is accessible via a mobile app or desktop computer.
The desktop interface offers a simple “instantbuy/sell” option. This option lets users quickly make trades or purchase crypto with a debit card, bank account, or Bittrex account balance.
Users can also benefit from a real-time view of the markets available on the platform. Besides that, users have the option for more advanced order types. 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. That said, you still get fee discounts for trades with higher volumes. Overall, these fees are pretty low but are not the lowest available in the market.
| 30-Day Volume (USD) | Maker | Taker |
| Less than $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| 100,000 – 1 Million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has received negative reviews from users. Most of these issues stem from account lockouts, frozen assets, and problems with identity verification. These problems are widespread across all crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros & Cons
Pros
- High security
- A wide range of cryptocurrency available
- Very low fees
- Advanced trading tools
- Very useful educational content
Cons
- Customer support is mediocre and often unhelpful
- Can be challenging for beginners
Binance versus eToro How To Buy Axs On Binance
Binance and eToro are two of the most well-known 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 is not. Rather, it is a cryptocurrency broker.
Binance offers a variety of digital assets, including NFTs and services. Meanwhile, a cryptocurrency broker sells crypto alongside other investment products like stocks and fractional shares.
eToro Overview
Unlike most of the companies listed in this review, eToro did not start as a platform for cryptocurrency. The Tel Aviv-based company was actually an online forex broker originally under RetailFX. This was in 2007.
When RetailFX started offering commodities, indices, and stocks, 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). The world’s most popular digital currency. It added support for Ripple and Ethereum four years later. How To Buy Axs On Binance
Also, in 2018, eToro went full steam on the crypto industry. The platform was expanded with more currencies and coins. The company also launched eToroX, a digital asset platform and its crypto wallet.
Cryptos under eToro
eToro’s digital asset platform has a limited selection of cryptocurrency options. They were not originally set up as an exchange, but rather as a brokerage. That said, some popular currencies found in the service include:
- Bitcoin (BTC).
- Bitcoin Cash (BCH).
- Cardano (ADA)
- Dash (DASH)
- Dogecoin (DOGE).
- Ethereum (ETH).
- Litecoin (LTC).
- Polkadot (DOT)
- Polygon (MATIC)
- Solana (SOL)
- Stellar Lumens (XLM)
eToro Perks
- CopyTrader
The CopyTrader is eToro’s signature feature. This feature existed long before the platform began to explore the crypto industry. How To Buy Axs On Binance
This basically allows eToro users to copy trades done by their favorite traders with just one click. Users only need to set the amount of money they want to allocate for the trade.
From there, the platform will set those funds and try to mirror the positions of their favorite eToro trader proportionally.
It is completely free, which is quite surprising. There is a need to pay an additional fee for this feature, which can be used as much as the user wants.
- 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 is one of the few places on the internet that allows you to own cryptocurrency and stocks in one account. Regarding stock investing, the platform offers zero-commission stock trading with the ability to buy fractional shares.
eToro provides a virtual brokerage account which allows you to simulate stock investing without putting any real money at risk.
- Fee Debit card deposits
Unlike other cryptocurrency exchanges that charge fees, eToro doesn’t charge users to make a debit card payment. 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.
Starting in the platform is as easy as depositing fiat currency from a debit card or bank account, and then they can trade immediately.
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. 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.
Some of the new features included in eToroX include U.S. dollar deposits, margin trading, trading APIs, and fast execution.
eToro Fees
eToro offers a refreshing view on fees. Unlike most cryptocurrency exchanges, which don’t show their fee, eToro lists the fees it charges when trading crypto.
eToro users pay a flat fee of 1% for each crypto trade. This 1% market fee is added to the market price the platform calls a bid-ask spread. This fee is charged when users close or open positions.
However, many users don’t like the fact that eToro charges a fee for each round trip. This is different from other exchanges, which only charge fees when an asset is purchased or sold.
eToro charges 1% upfront for the eventual sale and a $1 purchase fee.
This could be a problem when users transfer their coins to an external wallet. They can’t return the coins to the trading platform.
eToro Issues
It is not surprising that there have been many controversies about the platform due to its age. However, most of these do not involve the crypto market.
One that does, though, happened during the 2021 closure of leveraged position. Early that year, European clients of the platform were notified of the following:
“Due to extreme market volatility in the crypto markets, margin positions for all leveraged crypto positions” should be changed to non-leveraged, or they would be closed within four hours.
This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. It even provoked actions of having the eToro license in Cyprus revoked.
eToro was also in a feud with Redditors of /r/wallstreetbets after the GameStop short squeeze.
eToro Pros and Con
Pros
- An established platform
- Regulated in numerous jurisdictions
- CopyTrading is a unique feature that is only found in the platform.
- There’s more to it than just crypto trading.
- Fee is transparent
Cons
- Only 44 states in the United States allow stock, ETF and cryptocurrency trading
- Margin trading is not available for U.S. users
- There are a few cryptocurrencies available.
- 1% fee is pretty high compared to others.