It is only a matter time before cryptocurrency becomes mainstream and is recognized everywhere. As such, marketplaces where people can buy, sell, exchange and trade digital assets have become crucial places.
And right on cue, to fulfill the adage: “If there’s a demand for it, someone will try to fill up that demand.” As for this case, cryptocurrency exchanges came into the picture to remedy this marketplace demand.
By definition, a cryptocurrency exchange is an online marketplace where users can exchange one kind of digital asset for another. These exchanges will be 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. The banks regulate money. They are the only legal institution that can offer customers the ability to exchange fiat currencies for another.
Stock brokers can trade securities and stocks on a stock exchange. Only stocks that are listed on an exchange can be purchased or sold. As such, stock exchanges are basically marketplaces where stock buyers and sellers do their business.
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.
These people believe these places could facilitate the trading of unregistered securities. They fear that crypto exchanges could be used by criminals to launder money, and they have limited AML/KYC capabilities to evade the law.
Some of these claims may not be entirely true. 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.
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 can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper authorities.
There is also the possibility that you will lose your money by speculating in cryptocurrency, and then have the rug pulled under your feet by the founders of these exchanges. Especially when these founders are hustlers or scammers who are too good at what they are doing.
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.
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 How To Do Binance Futures
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. The company was initially based in China, but with the growing crypto restriction on crypto in the country, it was moved to Japan and soon to Malta.
Back then, the company had no place to call home.
However, there is current news that the company was headed to Malta, where it is said to be currently based. Binance is available in most countries, with the exception of the United States where Binance.US was created.
Binance’s popularity among its users is due to its low fees, large selection of cryptocurrencies available, and innovative products. The platform has a lot to offer in terms of products that are based on cryptocurrencies.
Some of these products/services include the chance to earn, exchange, stake, derive, and NFTs. The service allows you to get loans, make payments and even apply for credit cards.
Cryptos Under Binance
Binance also has its own set of tokens and cryptocurrencies. In fact, there are two.
The first one is called BUSD. It is a fiat-backed stablecoin issued by Binance and Paxos. Each token of this stablecoin is backed 1:1 with US dollars in reserve. The company created BUSD as a means to provide a more stable cryptocurrency alternative for traders and investors wanting to avoid the volatile nature of the digital asset market.
BNB is the second. Formerly called Binance Coin, it was launched in 2017 through an initial coin offering (ICO) as an asset for users when Binance was still in its infancy. It 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 is used to pay listing, exchange, trading fees, and other expenses users incur on the platform.
Binance Perks
- Low fees
This is why Binance is the most popular crypto exchange platform in the world. Binance trades are as good as 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
A crypto exchange platform will only be as good as the selection of cryptocurrencies available in its market. Of course, being the biggest one there is, Binance carries a lot and other digital currencies available.
Decentralized finance tokens (DeFi) are also available.
Some of the currencies available include:
- Binance Coins (BNB)
- VeChain (VET)
- VeThor (VTHO)
- Harmon (ONE)
- Matic Network (MATIC)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Cosmos (ATOM)
- Cardano (ADA)
There are many other options.
- 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. That said, trading and dealing with crypto is already risky in itself.
- Advanced trading tools
Binance wouldn’t be considered a crypto-exchange platform if it didn’t have trading tools.
Binance has advanced trading tools that allow users to customize trading options easily. It is easier to place limit orders to buy or sell crypto at a certain price.
Then there are charting tools that can be very useful for veteran traders making decisions. You can even sell leveraged tokens to make trading easier.
Binance Trading Experience
The overall trading experience with Binance is pretty good. 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.
You don’t have to trade on 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. Even those who want to keep track of their trades will only need to access their trade history, which is also available on the exchange platform.
Even how they view their trading can be customized. This allows for easier comprehension of data. 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.
Whether you are a maker or a taker will also determine how much you will get on fees. 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. You get 25% off your trading fees when you use BNB to make trades. Binance offers 0% trading for selected Bitcoin and Binance USD pairs (BUSD).
The chart below can be used as a quick reference for Binance’s fees.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | Less than 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4,999,999 and at least 25 BNB | 0.09%/0.10% |
| 2 | 5,000,000 to 19,999,999 and at least 100 BNB | 0.08% / 0.10% |
| 3 | 20,000,000 to 119,999,999 and at least 250 BNB | 0.07% / 0.10% |
| 4 | 120,000,000 to 199.999.999 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 999,999,999 and at least 1,750 BNB | 0.05% / 0.07% |
| 7 | Between 1,000,000,000 and 2,499,999.999999 and at most 3,000 BNB | 0.04% / 0.06% |
| 8 | 2,500,000,000 to 4,999,999,999 and at least 4,500 BNB | 0.03% / 0.05% |
| 9 | More than 5,000,000,000 and at least 5,500 BNB | 0.02% / 0.04% |
Binance Issues
Despite being one of the biggest names in crypto, Binance has its issues and controversies.
The year 2019 was a terrible year for the exchange platform.
On May 7, 2019, it was revealed that Binance became a victim of a “large-scale security breach.” It was reported that hackers had stolen 7,000 Bitcoin worth $40 million then. However, customers were reimbursed by the site’s “Secure Asset Fund for Users (SAFU).
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.
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. This was due to their application not meeting the anti-money laundering requirements set by their government.
It was again in trouble the next year when it was revealed that Binance had shared client data with Russia. In an effort to combat crime, these data contained names and addresses.
Then in October of the same year, it suffered another hack on its network. After discovering an exploit between two different blockchains, the company had to suspend transactions and funds transfers temporarily. As soon as the issue was discovered, it was resolved.
From the total $570m stolen, approximately $100m of funds were not recovered.
Binance Pros and 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.
- Due to regulatory issues, the service is not available in the United States. Even the US-specific service, Binance U.S. (a more limited version), is unavailable in some states.
- No built-in digital wallet available
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Coinbase Versus Binance
There are no two different cryptocurrency platforms whose approach can differ as much as Coinbase and Binance.
One is a United States-based exchange that is designed for beginners with a simple interface and limited transaction types, while the other has a steep learning curve and is more suited to veteran users.
The crux of the difference between Coinbase and Binance is who their main audience is and how they cater to these people.
Coinbase Overview
Coinbase, or Coinbase Global, Inc, is an American publicly traded company that operates as a cryptocurrency exchange platform. It is a distributed company, and as such, all people employed by the platform operate via remote work.
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.
Later on, co-founder Fred Ehrsam joined him after noticing Armstrong’s post on Reddit. This was back in the days when bitcoin was only $6 and was only known to “a few nerds online” (Ehrsam’s words not mine).
They believed bitcoin was an insane idea that would revolutionize finance and money. Both men shared the belief that bitcoin would be huge. They wanted to make crypto more mainstream and easy to use. This was the impetus behind Coinbase.
Coinbase is now the largest crypto exchange in America and the world, but its humble beginnings are not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. How To Do Binance Futures
Cryptos Under Coinbase
Coinbase does not have its original coin or cryptocurrency. That said, the platform does support over 100 cryptocurrencies. They also regularly add more cryptocurrencies as the need arises.
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 (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. The market offers a wide range of cryptocurrencies.
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.
Simple trading options are easy to use 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. 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.
- Get 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.
While the feature does not give much, it still doesn’t hurt. Even a few crypto bits can be a blessing in this economy. Besides, whoever declines free money is always a fool. Even if the amount is not.
- Educational Content
As lightly touched above, coinbase has a library that is a well of educational resource. These resources include tips and tutorials, as well as information about crypto basics. Market updates are also available. It is for this reason that Coinbase is the ideal platform for those just starting to invest in crypto.
- Mobile App
Coinbase has made it easier for users to access their accounts via a mobile app. Like the web platform, their mobile app provides user-friendly ways to buy, sell, and manage your cryptocurrency.
The Coinbase app isn’t just garbage. It’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.
- Crypto Reward
You can earn interest on many cryptocurrencies through your Coinbase Account. Coinbase automatically pays interest on certain stables like USD Coin (USDC).
This allows you 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. When you stake in crypto, you commit your crypto assets to support the blockchain network and verify transactions. How To Do Binance Futures
As said, staking on cryptos will give you certain free rewards. This is not possible for all cryptos. It depends on where you live and the cryptocurrency.
- Coinbase Debit card
Aside from trading, Coinbase allows users to access and spend their hard-earned wealth using the Coinbase card.
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
Coinbase offers a different kind of service than Binance, which has lower fees and more advanced training tools. Coinbase targets people just starting their crypto journey.
The platform offers tools that allow investors new to crypto trading a fast, easy, and secure way to trade. This is linked to their original goal of “making Bitcoin easier to use.”
They have provided their determination to achieve this vision by letting users earn cryptocurrency just for watching tutorial videos geared towards beginners.
However, this doesn’t mean that veteran traders have only beginner tools to use. Coinbase Pro is the perfect platform for you. A platform that is specialized for seasoned traders. How To Do Binance Futures
Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. Examples include the ability to choose among several order types, such as stop or limit order and margin order.
You can also view real-time charts, trade history and order books, as well as price charts. This can help them create more informed decisions when moving their positions and doing their trades.
Although it states pro on the can, that doesn’t necessarily mean users will need to pay a fee for Coinbase Pro. No, there is no need for that. Anyone with a Coinbase account can already access and use the pro version.
Coinbase Trading Fees
Coinbase doesn’t disclose their fees and pricing. Their entire fee schedule was removed from the online help section. That said, this doesn’t mean you will pay your fees blindly. You will still be able to see the cost of entering a trade so that you are aware of what you will have to pay.
This is where coinbase falls short of the rest. 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. The spread is significant because rates can fluctuate depending on market conditions.
- 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.
- Coinbase charges fees for transactions executed on external blockchain networks that support cryptocurrencies. How To Do Binance Futures
That said, Coinbase Pro’s pricing model is more straightforward. It is based on the customer’s monthly trading volume and liquidity of the asset at the time of purchase. Also, Coinbase pro users are required to make deposits and withdrawals through a bank account.
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 over $200 are subject to a percentage-based fee instead of a flat fee.
For Coinbase Pro, a general idea of the fees is shown in the chart below.
| 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.
Coinbase acknowledged that customers were being charged more for cryptocurrencies they purchased with debit and credit cards than they originally intended. This was due to problems that started when banks and card issuers charged the merchant category code (MCC) of crypto purchases earlier that month.
The issue stemmed from the fact that crypto payments were categorized as “cash advances” and that banks and credit card issuers could begin charging cash advance fees for these purchases.
According to a Financial Times article Visa, the credit card company, initially blamed Coinbase. However, it later rescinded those statements and clarified on the Coinbase blog that the “issue was not caused by Coinbase”
In 2018, customer complaints against Coinbase jumped more than 100%. Most of these problems were categorized as “money was not available when promised.” The company solved this issue by increasing its customer service staff to reduce wait times.
Coinbase also participated in the first ever case of insider trading in cryptocurrency. A former product manager of the company as he shared information about certain tokens listed by the company. Prosecutors were provided with all the information necessary for an internal investigation by the company.
Pros and cons of Coinbase
Pros
- Easy to use and very friendly for those just starting in cryptocurrency
- Supports a large number of cryptocurrencies
- Provides opportunities to earn cryptocurrency while, at the same time, learning about them.
- Offers simple and advanced trading depending on user preference
- Offerings a coinbase debit card that allows easy withdrawal of funds How To Do Binance Futures
Cons
- Complex and convoluted fee structure that is also not transparent
- High fees on some transactions
- There are limited staking opportunities and interest possibilities.
- A lot of altcoins are missing from their selection
- Customer service issues
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Binance versus Kraken
Binance and Kraken, both giants in the cryptocurrency industry, have millions of users. There might seem like a huge gap between the two platforms should we compare their rank (Binance being first and Kraken at fourth), but there is more to it than that.
Binance.US users, for example, are severely limited by the fact that they cannot access Binance’s U.S.-based platform (Binance.US). while Kraken is widely available in the country.
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.
Ultimately, it will be up to customers to choose which platform by choosing what they value most. Binance will be the one to choose with their lower fees, large selection of coins and extra way of managing funds. Or will it be Kraken and its high regard for security standards, which won them a bank charter approval in Wyoming in 2021. How To Do Binance Futures
Kraken Overview
Kraken is a fully functional crypto exchange characterized by its low fees and a good selection of tokens, coins, and cryptocurrencies. One of the most defining characteristics of this platform is that it is one of the only U.S. crypto exchanges to provide advanced trading tools like margin.
Kraken’s main cause is to become the best and most secure crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”
In connection on the November 2022 FTX Controversy, Kraken founder and former CEO Jesse Powell tweeted: “…Happy to live simply, take a fee for matching trades. A balance sheet is mostly Bitcoin, some ETH.
Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. However, it was only launched in September 2013, offering Bitcoin, Litecoin, and euro trades. Further currencies and margin trading would follow.
Powell began working on Kraken as a possible replacement for Mt.Gox, another bitcoin exchange based in Shibuya, Tokyo, Japan. He was a consultant for that exchange before its collapse in 2014 due to failing security audits.
Kraken 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 Do Binance Futures
The year 2014 was very big for Kraken. The company received a Series A investment of $ 5,000,000 from Hummingbird Ventures in March 2014.
It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, Powell’s former employer. Kraken was relied upon because of its proven operating history of not being breached by hackers.
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 most 110 cryptocurrencies. The most well-known and popular currencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- Uniswap (UNI)
Kraken supports several stablecoins, including Tether, USD Coin and Dai. 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 Do Binance Futures
Kraken Perks
- Beefy Security
Kraken has been an integral part of the cryptocurrency market since its inception in 2011 and its launch in 2013. 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. Some in the industry associate Kraken with financial stability and physical security. This is a claim Kraken is too proud to make.
- Healthy Range of Available Cryptocurrencies
Kraken offers trades on its platform with over 160 coins and seven fiat currency. While it’s not the biggest amount, it is still a healthy number and is comparable to some of the best crypto exchanges. How To Do Binance Futures
This amount helps Kraken maintain high liquidity, making buying and selling at a fair price easier on the platform.
Kraken works using currency pairs, a one-to-one equivalency between two currencies. It is the price quote of the exchange rate of two different currencies traded in FX markets.
Kraken would use dollars to buy Bitcoin, and vice versa. If you are using dollars to buy Bitcoin and then Bitcoin to buy Ethereum, you will always be swapping one currency for another.
Kraken’s currencies cannot be exchanged for each other.
- Advanced 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. Pro clients who are eligible can get up to $500,000 in margin. This does not remove the risk that margin trading inherently brings.
- The fees are affordable.
Although it’s not the most expensive on the market, Kraken’s fees remain competitive and comparable to other exchanges. It’s even less expensive than other exchanges.
There are no set trading fees, which will differ from exchange to exchange. Your monthly trade history will determine how much you pay. While we will talk about fees in depth in another segment, it is important to know that fees are higher when using the instant buy feature rather than the pro platform.
- Strong Staking Options
Staking options within Kraken are pretty good. Users have the opportunity to stake over 15 different cryptos. Users can earn as much as 20%, up to 0.25%.
Staking refers to the act of holding your coins in order to make a contribution to the security of a specific blockchain. It can be a great way to passively earn an income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. Between these exchanges, Kraken Pro offers lower pricing. Anyone can access both platforms 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. How To Do Binance Futures
Kraken allows verified accounts with linked bank accounts to purchase cryptocurrency quickly. From there, selling or converting your crypto into your account is just a simple process. 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. 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.
On the other hand, Kraken Pro is Kraken’s more advanced trading platform. At first glance, it has a more complex interface than the regular Kraken exchange. Kraken Pro is intimidating for new traders. However, it is worth learning. How To Do Binance Futures
Some features added to it are more detailed asset information, active charts, and even a view to open orders.
Kraken allows you to pay lower fees, as we have already stated. So if you think you are ready, it would be better to make the same trade with Kraken Pro instead of Kraken. You will pay less but earn more in the end.
Kraken Fees
As stated above, Kraken’s fees are in the competitive middle. It is not the lowest on the market and it is not the highest. Other factors may affect the price of the fees you are about to pay.
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.
Additional fees will vary depending on how you fund your purchase. For funding with a bank account, these fees range from 0.5% to 1.5%. For a digital wallet, you can get a 25-Euro cents debit card, credit card or card at 3.75% plus 25 Eurocents. How To Do Binance Futures
Meanwhile, Kraken Pro’s pricing is pretty different. The fees for Kraken Pro are generally lower than those on the main Kraken platform. Your fees will also be based on your total trading volume over the last 30 days. 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.
Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.
Kraken does have its share of problems with 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 believes that this would be a bad business decision.
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 & Cons
Pros
- Advanced and sophisticated features like margin trading and staking.
- Excellent and reliable customer service
- Relatively low Bitcoin withdrawal fees (BTC).
- Provides a wide range of educational material.
- Most secure exchange in the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Both modes can be accessed as long you have a Kraken account.
- Kraken accepts only a handful of fiat currencies
- A few users complain about their accounts being hacked. How To Do Binance Futures
- Not available in all U.S. States
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Binance versus crypto.com
Binance and Crypto.com have become some of the most popular cryptocurrency exchanges. Both provide a variety of features such as low fees and staking as well advanced trading. However, it does not mean that the two platforms are identical.
While one exchange is better than another, that doesn’t mean you should always choose the highest-ranking exchange just for numbers. Plenty of factors are at play for why one is ranked higher than the other.
The better way to choose your crypto exchange is to examine both options and determine which one appeals to you more. You can choose to go with Binance, which has a wider range of crypto currencies, but you will also have the option to choose Crypto.com, which is more user-friendly and charges lower fees. How To Do Binance Futures
Crypto.com Overview
Crypto.com was established in Hong Kong in 2018 The founders of Crypto.com, Gary Or, Kris Marszalek and Rafael Melo originally called it Monaco. It only became Crypto.com when the company purchased a domain that cryptography researcher and professor Matt Blaze owned.
The sales might be on the bigger one, with Domain sellers valuing the domain at US$5 – 10 million.
Crypto.com is a platform that does the same thing as most cryptocurrency exchanges. It allows users to trade, invest, put a stake in some currency and much more.
You can also choose from over 250 currencies. There are reasonable fees and discounts for some customers, such as those who have large stakes in Crypto.com’s own coin, the Cronos (CRO).
Crypto.com’s primary selling point is their exchange. They offer many crypto services, including their own crypto wallet and an NFT shop. Shopify has partnered with the company to accept cryptocurrency as a payment method.
Crypto.com can be described as a cryptocurrency platform that allows traders and investors to do more than just buy and hold. With Crypto.com, cryptocurrency can also be currency.
Cryptos under Crypto.com
Crypto.com offers a wide selection of currencies. It support more than 250 currencies for spot trading with a subset of 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). Having a significant stake in this coin rewards you with lower trading fees, higher stalking interest rates, and higher credit card rewards. How To Do Binance Futures
Crypto.com Perks
- One-Stop Shop
Crypto.com is more than a trading platform. It allows you to buy and sell cryptocurrencies on the exchange and swap said cryptocurrencies with others through your DeFi wallet.
Most importantly, Crypto.com allows you to spend your hard-earned crypto through a prepaid Visa card. Basically, Crypto.com puts weight on the currency part of cryptocurrency.
- Low Fees
Crypto.com’s low fees can rival that of many sites.
There are many transactions on Crypto.com that don’t require fees. You can deposit your money via wire transfer or electronic bank to your account.
Crypto.com allows you to buy and sell cryptocurrency at the true price, which is why you should know that “what you see is what your get”.
That said, the platform does charge you a fee for crypto purchases made with a credit card or a debit card. 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
While this is not a feature unique to Crypto.com, it bears being listed here. The Crypto.com app allows users to convert their fiat currencies into crypto. Provided that Crypto.com is limited to 20 fiat currencies available on the platform.
These fiat currencies include USD, GBP, and EUR, among others. However, just because it is available for trade on Crypto.com does not mean that a fiat currency will be available to you for trade. Your country of residence will still be a big factor limiting your ability to trade in certain fiat currencies.
- Cashback cards
One of the best perks you can get as a member of Crypto.com com is the availability of Visa Cards connected to your Crypto.com account and its crypto currency.
Crypto.com currently offers five types of prepaid Visa cards to its customers. These cards must be charged before they can be used fully.
The type of Card available for you will also depend on how much CRO stake you have in the platform.
Their Ruby Steel card is the lowest available tier, and it also offers a 1% cash back on 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. To qualify, you will need to have at least $400,000 in stakes. How To Do Binance Futures
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. 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%.
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 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. While one-month terms are more flexible than three-month terms, deposits for three-month terms yield better rates.
Finally, stablecoin investments can also increase your interest rate. Stablecoins are usually tied to an external reference. Some can even be tied to the U.S. Dollar. These stablecoins allow you to earn more interest.
That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. They are less likely to lose value.
It is risky to keep your crypto savings. Cryptocurrencies can be volatile and your savings could be cut if they fail.
- Gifts Cards and Phone Top Ups
Gift Cards and Phone Top-ups are other ways that Crypto.com allows you to spend your crypto. Buy gift cards from popular brands to earn cash back benefits.
Crypto.com offers gift cards from popular brands covering different industries like hotels, general retail, games, airlines, education, and even entertainment from at least 41 countries. You can also find gift cards from the United Arab Emirates, Norway, Singapore and Spain.
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. 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. How To Do Binance Futures
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. 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.
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
Crypto.com’s trading fees are very competitive. In fact, they are among those who offer the lowest trading fees in the market. Those who trade in higher volumes can qualify for fees as low as 0.04% for makers and 0.1% for takers, even without CRO staking.
Discounted trading fees have become available when users hold at least 5,000 CRO in their wallet. Rates go lower with larger stakes.
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 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 |
| Less than 250,000 | 0.0728% | 0.728% |
| Greater than or equal 250,000 | 0.0679% | 0.0698% |
| More than 1,000,000 or equal | 0.0631% | 0.0669% |
| More than 5,000,000 or equal to 5,000,000 | 0.0582% | 0.0631% |
| Greater than or equal to 10,000,000 | 0% | 0.0485% |
As stated, discounts are based on the CRO stakes. Maker fees for those with stakes greater than or equal to 50,000 CRO become zero. People with even higher stakes may be eligible for rebates.
Crypto.com Issues
Crypto.com, like most cryptocurrency exchanges has its 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.
Their exchange token Cronos (CRO), lost $1 billion in value between November 2022 and November 2022. 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 Pros and Cons
Pros
- Very low fees
- There are many ways to pay with crypto
- Converts money easily
- Great cash back rewards with Visa card Perk
- Earn interest on crypto
- Pretty big selection of cryptocurrency coins and tokens How To Do Binance Futures
- 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 lack of educational resources.
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Binance versus Kucoin
When Comparing KuCoin and Binance side by side, the winner is pretty clear. Binance is the clear winner, and it is by quite a bit. KuCoin was one of the first platforms to trade cryptocurrencies. However, FTX and Kraken have taken over.
KuCoin is still available to its users, but most traders avoid it like the plague. Many negative reviews have been written about the exchange, with a variety of reasons. Some are semantics while others are alarming.
KuCoin Overview
KuCoin 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 established in 2013.
KuCoin was founded by MichaelGan, who was eager to learn more about blockchain and the potential applications. He discovered Bitcoin from his boss, Eric, and started getting in on the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. This was in direct proportion to the impact blockchain had on the world, particularly with the way that crypto and Bitcoin changed the global financial system.
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
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.
This extensive range of tokens and coins may appeal to veteran traders who are looking for an assortment of assets. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. How To Do Binance Futures
It was also one of the main reasons why the company was founded in the first place, to give fewer mainstream currencies their spotlight and allow people to access them.
These 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 has its token, called KuCoin Token or 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
- Wide range of Coins
As we have already stated, KuCoin has a broad selection of coins, tokens, and altcoins that can be traded in 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 has very low trading fees. Although it’s not the lowest on the market, it’s still low enough to be competitive with other exchanges.
In KuCoin, you don’t have to pay any monthly account fees. The withdrawal fees are the same as other exchanges and deposits to KuCoin are free. That said, you will still need to pay a fee to deposit fiat money, such as U.S. dollars. How To Do Binance Futures
These fees depend on the transfer method you choose and what third-party app that 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.
With KuCoin earn, you are given two ways to earn from your crypto. First, you can take coins through Pool-X, a company backed by KuCoin. You can also lend your crypto to get 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.
According to the exchange, you can earn up to 8% to 12% on average from this way. KuCoin makes margin trading possible by using this money. It might seem risky, but the company states that lenders will always be repaid in full.
That repayment might come from the borrower’s collateral or a KuCoin margin insurance fund.
- Advanced Features
KuCoin 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 pretty convenient as you do not always need to be online to do your business.
However, bots can pose a risk. Bots are susceptible to errors and you may lose out on many opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.
The convenience bots offer may not be worth the uncertainty about how they handle your assets.
KuCoin Trading Experience
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. From there, users can do whatever they want, from viewing markets, buying, trading, and lending crypto, as well as many other activities.
The platform supports four order types. These are market order, limit order, stop-limit order, and stop-market order.
Besides orders, users also have access to margin, futures, and P2P trading. If you want, you can even stake your crypto with the benefit of earning some back or a discount on some trading fees. How To Do Binance Futures
The exchange recently added a Trading Bot feature that will simplify the entire trading process.
Overall, KuCoin has plenty of advanced features. This might be a boon to veteran traders. They can be difficult for novice traders, as they aren’t user-friendly on mobile platforms.
KuCoin Fees
When it comes to trading fees, KuCoin divides their rates by levels. The three main factors that determine the trading fees are: The minimum KCS holding within the past 30 days and the spot trading volume within the last 30 day (BTC) are the key factors in determining the trading fees.
Below is a table that shows which trading level corresponds to which.
| Trading Fee Level | Min KCS Holding last 30 Days | Spot Trading Volume Last 30 Days (BTC) | Futures Trading Volume Last 30 Days (BTC) |
| LV0 | 0 | <50 | <200 |
| LV1 | 1000 | >=50 | >=200 |
| LV2 | 10000 | >=200 | >=400 |
| LV3 | 20000 | >=500 | >=1000 |
| LV4 | 30000 | >=1000 | >=2000 |
| LV5 | 40000 | >=2000 | >=3000 |
| LV6 | 50000 | >=4000 | >=6000 |
| LV7 | 60000 | >=8000 | >=12000 |
| LV8 | 70000 | >=15000 | >=20000 |
| LV9 | 80000 | >=25000 | >=40000 |
| LV10 | 90000 | >=40000 | >=80000 |
| LV11 | 100000 | >=60000 | >=120000 |
| LV12 | 150000 | >=80000 | >=160000 |
These levels will then decide how much you will have to pay in maker or taker fees. Spot trading fees 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 | 24-hour Withdrawal Limit |
| LV0 | 0.1% / 0.1% | 200 |
| LV1 | 0.09% / 0.1% | 200 |
| LV2 | 0.07% / 0.09% | 200 |
| LV3 | 0.05% / 0.08% | 200 |
| LV4 | 0.03% / 0.07% | 200 |
| LV5 | 0% / 0.07% | 500 |
| LV6 | 0% / 0.06% | 500 |
| LV7 | 0% / 0.05% | 1000 |
| LV8 | -0.005% / 0.045% | 1000 |
| LV9 | -0.005% / 0.04% | 2000 |
| LV10 | -0.005% / 0.035% | 2000 |
| LV11 | -0.005% / 0.03% | 3000 |
| LV12 | -0.005% / 0.025% | 3000 |
KuCoin Issues
To be honest, KuCoin does not have the best reputation in the industry. Just by looking at reviews of the company, you can already see a glimpse of how bad the dissatisfaction is.
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 Do Binance Futures
KuCoin was also accused of manipulating the market. Some even claimed that their assets disappeared randomly from their accounts. This can be a very big problem, especially when we talk about assets, money, and finance.
Security is another issue.
While KuCoin is a generally secure crypto exchange, it was subject to a major hack back in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Con
Pros
- Low fees
- Strong user base
- Wide range of coins
- Allows you to earn interest on your crypto
- Advanced trading features
- Good customer service
Cons
- The U.S. has not granted license for this product.
- Payment methods are limited
- New traders can find it intimidating and overwhelming
- Has limited education resources
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Bittrex
Bittrex is a crypto exchange that has more similarities than differences than Binance. Both have similar features that users can use. That said, these two platforms do have their major differences.
The key difference between the two platforms is their size. Bittrex is more focused on a scaled-down experience, whereas Binance has the highest trading volume of all the exchanges.
There was once a time when Bittrex was once among the global leaders in the cryptocurrency industry. Binance was able to surpass them despite having stricter Know Your Customer (KYC), and anti-money laundering policies.
Bittrex Overview
Bittrex is a cryptocurrency exchange that aims to operate a world-class service with focus and trust.
It was co-founded by three Amazon cybersecurity engineers: Bill Shihara (co-founder and CEO); Richie Lai (co-founder and chief information officer); and Rami Kawach (co-founder and chief tech officer). Its headquarters are located in Seattle.
The platform initially offered only crypto-tocrypto trading. However, it quickly added fiat-tocrypto trading. How To Do Binance Futures
Despite the newness of their fiat trading, they still offer a wide selection of cryptocurrencies and stablecoins. Also, they are available in 46 U.S. states, excluding Hawaii, New York, and Vermont
Cryptos under Bittrex
Bittrex has a wide selection of cryptocurrencies and stablecoins available in 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
- 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% This can get lower depending on the trade volume. That said, it is not the lowest available in the market. Some exchanges have lower fees compared to them.
- Fast trading executions
Bittrex offers a unique trading engine that speeds up trades, which is unlike other services. This engine even works well despite high demand. Investors would love this as it allows them to capitalize on the many price movements that happen in a volatile market such as cryptocurrency.
- Cardano staking
Cardano (ADA), cryptocurrency holders would be thrilled to have this platform. Bittrex allows users to stake their Cardano crypto throughout the exchange. You can get up to 5.5% in reward. How To Do Binance Futures
- 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. Here, users will find articles and references for various crypto topics. You will find references and lessons on topics that range from crypto taxes to crypto mining.
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 Do Binance Futures
- Referral Program
Bittrex operates a referral program where when someone you know signs up for an exchange account and uses your referral link, you will earn 10% on all trading commissions they pay.
This may not seem like much. Referring 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
Trading on Bittrex is a no-frills, straightforward experience. Users just need to log in, and then they can access their trading dashboard. It can be accessed via a desktop or mobile app.
The desktop interface offers a simple “instantbuy/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. 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 received negative reviews from users. Many of these problems are caused by account lockouts, assets that have been frozen, and identity verification issues. These problems are widespread across all crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros & Cons
Pros
- Highly secure
- Extensive selection of available cryptocurrency
- 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 Do Binance Futures
Binance and eToro are two of the most well-known cryptocurrency platforms. They are both very well-known and have a strong market presence.
However, there is a difference that divides the two. That is, they are very different platforms. Binance is a cryptocurrency exchange. eToro, however, is not. Rather, it is a cryptocurrency broker.
Binance offers a variety of digital assets, including NFTs and services. A cryptocurrency broker also sells crypto along with other investment products such as stocks and fractional shares.
eToro Overview
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. The Tel Aviv-based company was actually an online forex broker originally under RetailFX. This was back in 2007.
When RetailFX started offering commodities, indices, and stocks, it changed its name to eToro. 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. CFDs could now be bought and sold to non-U.S. users. The world’s most popular digital currency. It added support for Ripple and Ethereum four years later. How To Do Binance Futures
In 2018, eToro also made a big push in the crypto market. The platform was expanded with more currencies and coins. The company also launched eToroX, a digital asset platform and its crypto wallet.
Cryptos under eToro
eToro’s digital asset platform has a limited selection of cryptocurrency options. They were not originally set up as an exchange, but rather as a brokerage. Nevertheless, the service does include some of the most popular currencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Dash (DASH)
- Dogecoin (DOGE).
- Ethereum (ETH)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC).
- Solana (SOL)
- Stellar Lumens (XLM)
eToro Perks
- CopyTrader
The CopyTrader is eToro’s signature feature. This feature existed long before the platform began to explore the crypto industry. How To Do Binance Futures
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 crypto.
It was expected that users would still be able to participate in the action since the platform began in foreign currency.
eToro allows you to have both stocks and cryptocurrency in one account. The platform also offers stock trading at zero commissions and the possibility to purchase fractional shares.
Even for people who want to test out stock investing, eToro offers a virtual brokerage account that lets you simulate owning stocks without putting real money at risk.
- Deposits to Fee Debit cards
Unlike most cryptocurrency exchanges, eToro does not charge fees for users who want to do a debit card deposit. As such, investors can deposit fiat money via bank transfer or debit card, all for free.
That said, there is a conversion fee for non-U.S. dollar transactions, so users should remember that.
eToro Trading Experience
eToro is available as a simple web-based platform and a well-designed mobile app.
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.
The top perk CopyTrading makes doing trades pretty simple and easy. It even allows users to do trades proportional to high-performing traders in the platform.
Overall, the platform offers many 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.
Some of the new features included in eToroX include U.S. dollar deposits, margin trading, trading APIs, and fast execution.
eToro Fees
When it comes to fees, eToro is a breath of fresh air. Unlike 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, many users don’t like the fact that eToro charges a fee for each round trip. This is unlike other exchanges that only charge a fee when a purchase or sale of a crypto asset is done.
eToro charges 1% upfront for the eventual sale and a $1 purchase fee.
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
It is not surprising that there have been many controversies about the platform due to its age. Most of these do NOT involve the cryptocurrency market.
However, one did occur during the 2021 closing of leveraged positions. Early that year, European clients of the platform were notified of the following:
Margin positions for all leveraged crypto position should be changed from leveraged to non-leveraged. Otherwise, they will be closed in less than four hours.
This was a bad move and many users and lawyers expressed their intent to file a lawsuit as a group. This led to the revocation of the eToro licence in Cyprus.
eToro also found itself in an unfavorable feud against Redditors from /r/wallstreetbets following the GameStop short squeeze.
eToro Pros and Con
Pros
- An established platform
- Regulated in numerous jurisdictions
- CopyTrading is a unique feature that is only found in the platform.
- Has more to offer outside of crypto trading
- Transparency in the fee
Cons
- Stock, ETF, and cryptocurrency trading only available in 44 U.S. states
- Margin trading is not available for U.S. users
- There is a limited selection of cryptocurrencies.
- The 1% fee is quite high in comparison to other fees.