It is only a matter time before cryptocurrency becomes mainstream and is recognized everywhere. Marketplaces that allow people to trade, buy, and sell digital assets are becoming crucial.
To address this market demand, cryptocurrency exchanges were created.
By definition, a cryptocurrency exchange is an online marketplace where users can exchange one kind of digital asset for another. These exchanges will be based on the market value of the given assets.
Banks are real financial institutions that can receive deposits, store and transfer money, and are licensed in the real world. The banks regulate money. They are the only legal institution that can offer customers the ability to exchange fiat currencies for another.
Meanwhile, a stock exchange is a facility where stock brokers trade company stocks and other securities. Only stocks that are listed on an exchange can be purchased or sold. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.
In the digital world, cryptocurrency exchanges provide similar services to banks and Stock exchanges.
There are still people who treat cryptocurrency with fear and anxiety. Some people view cryptocurrency and cryptocurrency exchanges as illegal online marketplaces.
They believe that these places can facilitate the trade of unregistered securities. They fear that crypto exchanges could be used by criminals to launder money, and they have limited AML/KYC capabilities to evade the law.
Some of these claims may not be entirely true. As with all dealings with cryptocurrency, there are inherent risks to using cryptocurrency exchanges.
For example, there is a good chance that law enforcement may shut down an exchange. These exchanges may not be able return your money if they are shut down by law enforcement because they operate in grey areas.
There is also the possibility of your funds getting locked in the exchange, leaving you with no way of withdrawing or even selling your cryptocurrency and other digital assets. This can happen especially when the cryptocurrency exchange you are using has been seized by law enforcement or is under investigation by the proper authorities.
Lastly, there is a very big possibility of you losing your money from speculating cryptocurrency and then having the rug pulled under you by the founders or founding team of these exchanges. This is especially true if these founders are scammers or hustlers who excel at what they do.
It is important to remember that cryptocurrency and any other related technology are always a risky business. It is smart to always proceed with caution. As with gambling, there is a greater chance of losing than winning. High-risk, high reward.
For those of you who prefer a more visual experience, here is a video review from Mark Farfan’s YouTube channel. You can still check our article below for a complete overview of Binance. It also compares it with some other competitors.
Binance Exchange Huobi vs Binance
Binance Overview
Binance exchange is the largest cryptocurrency exchange in the world. It has the highest trading volume of any crypto exchange service and offers the most number of cryptocurrency trading pairs.
Binance was established in 2017 by Changpeng Zhao, a Chinese-Canadian entrepreneur. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
The company didn’t have a place to call home back then.
The company is currently based in Malta. That said, Binance serves most countries around the globe, except for the United States, where a specific version of the platform, Binance.US, had to be established.
Binance’s popularity among its users is due to its low fees, large selection of cryptocurrencies available, and innovative products. Binance has many products that are based upon cryptocurrency.
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 has its own tokens and cryptocurrency. In fact, there are two.
The BUSD is the first. It is a stablecoin fiat-backed issued by Binance and Paxos. This stablecoin token is backed 1:1 by US dollars in reserve. BUSD was created by the company to offer a stable alternative to the volatile digital asset market.
The second is called BNB. Formerly called Binance Coin, it was launched in 2017 through an initial coin offering (ICO) as an asset for users when Binance was still in its infancy. It was originally an ERC-20 standard token that was built on the Ethereum blockchain.
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 uses a maker/taker fee structure. Fees will vary depending on trading volume and Binance Coin (BNB) balance.
Despite this, fees are still charged by the platform for certain services, including withdrawals and payment types.
- Large Crypto Selection
A crypto exchange platform will only be as good as the selection of cryptocurrencies available in its market. Binance is the largest crypto exchange platform. This means that it has a lot of digital currencies.
Decentralized finance tokens (DeFi) are also available.
Some of the available currencies include:
- Binance Coins (BNB)
- VeChain, (VET)
- VeThor (VTHO)
- Harmon (ONE)
- Matic Network (MATIC)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Cosmos (ATOM)
- Cardano (ADA)
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. You can also try on some staking options available on the platform.
However, these opportunities come with a lot of risk. Users must be able to recognize and weigh the risks. Trading and dealing in crypto is risky enough.
- Advanced trading tools
Lastly, Binance would not be called a crypto exchange platform if it were without trading tools.
Binance offers advanced trading tools that make it easy to tailor trading options. It is easier to place limit orders to buy or sell crypto at a certain price.
Charting tools can also be extremely useful for veterans traders when making trade decisions. You can even sell leveraged tokens to make trading easier.
Binance Trading Experience
Binance’s overall trading experience is excellent. It provides various trading tools that allow for smoother and faster transactions. Some even have real-time charting tools with moving averages which makes everything convenient and accessible.
When trading, you do not need to be stuck to your computer. You can use Binance in any way you like. You can do it through the Binance App, the Binance website, or even the Binance desktop app.
Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. 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.
You can even customize how they view trading. This makes it easier to understand data. In fact, users can choose how they prefer these data to be presented, which makes it easier to pinpoint the more important ones.
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. Takers, who remove liquidity orders from a market, tend to get higher fees than makers (those who add liquidity to it).
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 | Below 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4999,999 with at least 25 BNB | 0.09%/0.10% |
| 2 | Between 5,000,000 and 19,999,999 with 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 999,999,999 and at least 1,750 BNB | 0.05% / 0.07% |
| 7 | 1,000,000,000 to 2,499,999,999 and at least 3,000 BNB | 0.04% / 0.06% |
| 8 | 2,500,000,000 to 4,999,999,999 and at least 4,500 BNB | 0.03% / 0.05% |
| 9 | More than 5,000,000,000, and at least 5,500 BNB | 0.02% / 0.04% |
Binance Issues
Despite being one of the biggest names in crypto, Binance has its issues and controversies.
The year 2019 was a terrible year for the exchange platform.
Binance was the victim of a large-scale security breach on May 7, 2019. It was discovered that hackers stole 7,000 Bitcoins worth $40 million. 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. In fact, saying that Binance had a rough year in 2021 is an understatement.
The United States Department of Justice and Internal Revenue Service, on allegations of money laundering and tax offenses, investigated the company.
It also had to cancel the planned launch of its own digital asset marketplace in Britain. Their application did not meet anti-money laundering requirements.
It was again in trouble the next year when it was revealed that Binance had shared client data with Russia. In an effort to combat crime, these data contained names and addresses.
Then in October of the same year, it suffered another hack on its network. The company had to temporarily suspend transactions and fund transfers after detecting an exploit between two blockchains. The issue had been contained as soon as it popped up.
From the total $570m stolen, approximately $100m of funds were not recovered.
Binance Pros & Cons
Pros
- Low Fees
- Simple Access to Passive Income Opportunities
- Large Selection of Cryptocurrencies
- Sophisticated trading tools
- There are many ways to deposit money
- Flexible Order Types and Trading Options
Cons
- Non-beginner friendly. For beginners, many features can be difficult to access and use.
- Regulation issues with many countries, including major ones such as the United States, Japan and the United Kingdom.
- Not available in the United States because of regulatory issues. The US-specific service Binance U.S., which is a limited version of the service, is not available in all states.
- No built-in digital wallet available
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance Versus Coinbase
There are two cryptocurrency platforms that can be used, and they have different approaches. Coinbase and Binance are the best examples.
One is a United States-based exchange that is designed for beginners with a simple interface and limited transaction types, while the other has a steep learning curve and is more suited to veteran users.
The difference between Coinbase & Binance lies in who their primary audience is and how they cater.
Coinbase Overview
Coinbase, or Coinbase Global, Inc, is an American publicly traded company that operates as a cryptocurrency exchange platform. The platform is a distributed business, so all employees work remotely.
The company doesn’t have a physical headquarters. It used to have a company headquarters in San Francisco, but this palace was abandoned, and the company changed operation to remote-first.
Brian Armstrong, an ex-engineer at Airbnb, founded Coinbase in June 2012. He joined the Y Combinator incubator program and received a $150,000 cash injection.
Later on, co-founder Fred Ehrsam joined him after noticing Armstrong’s post on Reddit. This was back in the days when bitcoin was only $6 and was only known to “a few nerds online” (Ehrsam’s words not mine).
They believed bitcoin was an insane idea that would revolutionize finance and money. They both shared a confident view that bitcoin will be very big. They wanted to make crypto more mainstream and easy to use. That was their impetus for making Coinbase.
Coinbase is now the largest crypto exchange in America and the world, but its humble beginnings are not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Huobi vs Binance
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.
As such, here is a glimpse of the different cryptocurrencies coinbase has to offer:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Solana (SOL)
- Polkadot (DOT)
- USD Coin (USDC)
- Dogecoin (DOGE)
- Uniswap
- Litecoin (LTC)
- Shiba Inu (SHIB)
- Algorand (ALGO)
- Stellar Lumens (XLM)
- Polygon (MATIC)
- DAI (DAI)
- SushiSwap (SUSHI)
Coinbase Perks
- Extensive 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.
A Bitcoin (BTC-focused exchange. Coinbase now offers over 150 different cryptocurrency types. You can even trade Bitcoin (BTC), and other major currencies, for smaller or 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
To make the platform more accessible, Coinbase provides two separate trading tools that users can access in their accounts. Users can choose between a simple trade option or an advanced trading option.
Simple trading options are easy to use for beginners. This option has one drawback: it charges higher fees. This is contrary to the crypto investing philosophy of keeping fees low.
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.
- Earn 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. Besides, even a few crypto bits are always a blessing, especially in this economy. Also, anyone who declines to pay for money is a fool. Even if the amount is not.
- Educational Content
As lightly touched above, coinbase has a library that is a well of educational resource. These resources range form the basics of crypto, tips, and tutorials to more complex stuff and even market updates. Coinbase is the best platform to start investing in crypto.
- Mobile App
Coinbase has made it easier for users to access their accounts via a mobile app. Their mobile app, which is similar to the web platform, allows users to manage, buy, and sell cryptocurrency.
The Coinbase app isn’t just garbage. It’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.
- Crypto Rewards
You can earn interest on many cryptocurrencies through your Coinbase Account. This is because Coinbase pays interest on specific stables, like USD Coin (USDC), automatically.
This allows you stake certain cryptocurrencies such as Solana (SOL), and Ethereum (ETH).
Staking is how many cryptocurrencies verify their transactions and allows participants to earn rewards on their holdings. When you stake in crypto, you commit your crypto assets to support the blockchain network and verify transactions. Huobi vs Binance
As said, staking on cryptos will give you certain free rewards. This is not possible for all cryptos. It varies depending on your region as well as 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. It allows you to spend cryptocurrency to purchase certain services, especially those that accept Bitcoin or 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.
This platform provides tools to enable crypto traders to quickly and easily trade. This is linked to their original goal of “making Bitcoin easier to use.”
They are determined to realize this vision and allow users to earn cryptocurrency by watching tutorial videos that are geared towards beginners.
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. Huobi vs 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. 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.
While it says pro on the tin-can, it doesn’t mean that users will have to pay another fee to access Coinbase Pro. There is no such fee. Anyone with a Coinbase account can already access and use the pro version.
Coinbase Trading Fees
Coinbase doesn’t disclose their fees and pricing. Their entire fee schedule was removed from the online help section. That said, this doesn’t mean you will pay your fees blindly. Costs are still shown when entering a trade, so you still know how much you will pay.
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. 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. Huobi vs 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 |
| $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
Trades above $200 have a percentage-based fee rather than a flat fee.
The chart below gives an overview of Coinbase Pro’s fees.
| Pricing Tier | Taker Fee | Maker Fee |
| 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
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.
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. 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 was also involved in the first-ever case of insider trading regarding cryptocurrency. A former product manager of the company as he shared information about certain tokens listed by the company. The company provided prosecutors with the right information for an internal investigation.
Coinbase Pros and Cons
Pros
- It is very easy to use and user-friendly for people just beginning in cryptocurrency
- It supports a wide range of cryptocurrencies
- Offers the opportunity to earn cryptocurrency and learn about them.
- Offers simple and advanced trading depending on user preference
- Offerings a coinbase debit card that allows easy withdrawal of funds Huobi vs Binance
Cons
- Complex and complicated fees structure, which is not transparent
- Some transactions attract high fees
- Limited staking and interest opportunities.
- A lot of altcoins are missing from their selection
- Problems with customer service
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Kraken
Both Binance and Kraken are giants of the cryptocurrency world, with both platforms amassing 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.
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.
Ultimately, it will be up to customers to choose which platform by choosing what they value most. 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. Huobi vs Binance
Kraken Overview
Kraken is a fully functional crypto exchange characterized by its low fees and a good selection of tokens, coins, and cryptocurrencies. This platform is unique in that it offers advanced trading tools such as margin.
Kraken’s main cause is to become the best and most secure crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”
In connection on the November 2022 FTX Controversy, Kraken founder and former CEO Jesse Powell tweeted: “…Happy to live simply, take a fee for matching trades. A balance sheet is mostly Bitcoin and some ETH.”
Jesse Powell (alumnus from California State University, Sacramento) and Thanh Luu, co-founded Kraken in 2011. However, it was only launched in September 2013, offering Bitcoin, Litecoin, and euro trades. Additional currencies and margin trading were to follow.
Powell started working on Kraken to replace Mt.Gox (another bitcoin exchange, based in Shibuya Tokyo, Japan). Before its 2014 collapse due to failed security audits, Powell was a consultant to the exchange.
Kraken also joined with other US Bitcoin players in the formation of the “Committee for the Establishment of the Digital Asset Transfer Authority”, the industry’s selfregulating group. Huobi vs Binance
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.
Later, it became one of the first bitcoin exchanges to be listed on Bloomberg Terminal. 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. Some of the more popular and well-known currencies include:
- 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)
Aside from that, Kraken also supports some stablecoins which include Tether, USD Coin, as well as Dai. A limited number of Kraken currency exchanges are also available in certain territories. This includes converting US dollars into Canadian dollars, Japanese yen, and Swiss francs. Huobi vs Binance
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. In fact, it is the only cryptocurrency exchange that has not had any major hacking accounts.
This exchange, which is based in the United States, is the industry’s leader in terms security. As such, some in the industry have affiliated Kraken with physical security and financial stability. A claim that the company is just too happy to boast about
- A healthy range of available cryptocurrencies
Kraken has over 160 coins and seven fiat currencies available to trade on its platform. While it’s not the biggest amount, it is still a healthy number and is comparable to some of the best crypto exchanges. Huobi vs 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 of the exchange rate between two currencies that are traded on 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.
- Trading features
Kraken is one of the few exchanges offering 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.
- Fees are reasonable.
While it is not the lowest in the market, the prices of Kraken’s fees are pretty competitive and on par with several exchanges. It’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. We will discuss fees in detail in another segment. However, it is important that you know that instant buy features are more expensive than the pro platform.
- Optional Strong Staking
Staking options within Kraken are pretty good. You can stake in over 15 cryptos. They can earn between 0.25% and upwards of 20%.
Staking refers to the act of holding your coins in order to make a contribution to the security of a specific blockchain. It can be a great way to passively earn an income.
Kraken Trading Experience
Kraken users can choose between Kraken and Kraken Pro. Between these exchanges, Kraken Pro offers lower pricing. Anyone can access both platforms with a Kraken Account.
Kraken is a trading platform that’s geared towards intermediate-to-experienced users. The platform is accessible to beginners if they wish. It is suggested that they start with the central Kraken platform to learn the ropes. Huobi vs Binance
Kraken allows verified accounts to quickly buy cryptocurrency from linked bank accounts. It is easy to sell or convert your crypto to your account. 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). To log in to your account, you’ll need to have your device.
Kraken Pro, on the other hand is Kraken’s most advanced trading platform. At first glance, it has a more complex interface than the regular Kraken exchange. Kraken Pro is intimidating for new traders. It is well worth the effort. Huobi vs 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’ll pay less and earn more at the end of the day.
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.
Prices and fees may vary depending on the platform. Kraken Pro will always be cheaper than regular 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%. Meanwhile, 3.75% + 25 Euro cents with a debit card, credit card, or digital wallet. Huobi vs 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.
Kraken’s security record has been excellent and Kraken is the only major cryptocurrency exchange not to be hacked.
That said, Kraken has its fair share of issues regarding government regulations.
Kraken refused to cooperate with an investigation by New York Attorney General’s Office in April 2018 on questions about crypto exchanges’ measures to protect customers from market manipulation and money laundering.
Kraken believes that this would be a bad business decision.
The Office of Foreign Assets Control began investigating the exchange in September 2021 for possible violations of sanctions by allowing trade with Iranian customers. Kraken was fined $1.25million by the Commodity Futures Trading Commission in September 2021 for allowing unregistered margin trades.
Kraken Pros and Cons
Pros
- Advanced features such as margin trading and stakestaking are available.
- Good and dependable customer service option
- Relatively low Bitcoin (BTC) withdrawal fees
- Offers a variety of educational materials.
- Most secure exchange in the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Luckily both modes can easily be accessed as long as you have a Kraken account.
- Kraken only accepts a few fiat currencies
- Some users have complained about having their accounts hacked. Huobi vs Binance
- It is not available in all U.S. States
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus crypto.com
Binance and Crypto.com have become some of the most popular cryptocurrency exchanges. Both offer a wide range of features, such as low fees, staking, and advanced trading. It does not necessarily mean that they are identical.
There is a reason one is better than the other, but that does not mean that you should automatically run toward the higher-ranked exchange for the sake of 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. Huobi vs Binance
Crypto.com Overview
Crypto.com was founded in Hong Kong back in 2018. The founders of Crypto.com, Gary Or, Kris Marszalek and Rafael Melo originally called it Monaco. 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 allows users to trade, invest, put a stake in some currency and much more.
You can also choose from over 250 currencies. There are reasonable fees and discounts for some customers, such as those who have large stakes in Crypto.com’s own coin, the Cronos (CRO).
Crypto.com’s main selling point and focus is in their exchange. However, that is not what they all do, they also offer a variety of crypto services which include their own crypto wallet, and even an NFT shop. 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
In terms of selection, Crypto.com has a huge one available. It support more than 250 currencies for spot trading with a subset of staking. Some of the more popular currencies available in the platform include:
- Bitcoin (BTC)
- Cardano (ADA)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Polkadot (DOT)
- Litecoin (LTC)
- USD Coin (USDC)
- Chainlink (LINK)
- Polygon (MATIC)
- Cardano (ADA)
- Uniswap (UNI)
Cronos (CRO) is Crypto.com’s coin. Having a significant stake in this coin rewards you with lower trading fees, higher stalking interest rates, and higher credit card rewards. Huobi vs Binance
Crypto.com Perks
- One-Stop Shop
Crypto.com is more than a trading platform. It allows you to buy and sell cryptocurrencies on the exchange and swap said cryptocurrencies with others through your DeFi wallet.
Crypto.com lets you spend your crypto with a prepaid Visa Card. Crypto.com places a lot of weight on cryptocurrency’s currency component.
- Low fees
Crypto.com’s low fees can rival that of many sites.
In fact, there are transactions within Crypto.com that do not even require any fees. You can deposit your money via wire transfer or electronic bank to your account.
Crypto.com also allows you to purchase and sell cryptocurrency at its true cost, giving the real meaning of “what you see is what you get.”
That said, the platform does charge you a fee for crypto purchases made with a credit card or a debit card. Payments made with a debit card or credit card might also be subject to a cash advance fee for crypto purchases.
- Convert Your Money Easily
While this is not a feature unique to Crypto.com, it bears being listed here. The Crypto.com app allows users to convert their fiat currencies into crypto. Crypto.com only supports 20 fiat currencies.
These fiat currencies include USD, GBP, and EUR, among others. 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.
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.
For those with deeper pockets, Obsidian tier is available. 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. Huobi vs Binance
Other cards available include Midnight Blue, Jade Green/ Royal Indigo, and the Frosted Rose Gold/ Icy White. All these cards have no annual fee and give you a set number of free ATM withdrawals and foreign transactions each month.
- Earn Interest
Crypto.com is more than a place to purchase tokens and coins. It’s a one-stop shop that offers everything crypto. Crypto.com accounts can earn high interest rates. In fact, Crypto.com have some of the best high-yield savings accounts in the market.
To benefit from this perk you will need to have a lot of cash in your CRO. However, the maximum amount of interest you can earn is less than 10%.
The interest rate you can acquire will depend on factors like the duration of time you leave your money, the currency you save, and the amount of CRO you have staked.
The app allows you to increase your interest rate in many ways. One of them includes Staking more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.
If you make a deposit for a term of one month or more, the interest rate can be increased to 3 months. Between these choices, depositing for one-month terms might be more flexible, but three-month term deposits yield better rates.
Lastly, investing in stablecoin also increases your interest rate. Stablecoins usually peg their values to an external reference. Some can even be tied to the U.S. Dollar. These stablecoins can help you earn more interest.
That said, since stablecoins are stable, these are unlikely to appreciate in value compared to normal cryptocurrencies. That also means they are also less likely to depreciate in value.
In the end, keeping your savings in crypto is still risky. Cryptocurrencies can be volatile and your savings could be cut if they fail.
- Gifts Cards and Phone Top Ups
Crypto.com also offers phone top-ups and gift cards. You even earn cash-back benefits by buying gift cards from several popular brands.
Crypto.com offers gift cards from popular brands covering different industries like hotels, general retail, games, airlines, education, and even entertainment from at least 41 countries. Like Spain, Norway, Singapore, and the United Arab Emirates.
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. Huobi vs Binance
This app shows the user their portfolio and lists of their most popular assets. It offers everything that Crypto.com claims it can. 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.
Without chart tools, where would you find a trading app? In the case of Crypto.com’s app, it shares a relatively simple set of data that aims not to intimidate or overwhelm the users. The charts just contain enough information needed for users to learn how the blockchain and the currency work, something they might need before buying.
In terms of fiat currencies, Crypto.com has a fair selection. The most popular are the Australian (AUD), Canadian (CAD), and the euro (EUR) dollars, as well as the British pound sterling and the U.S. Dollar (USD), which are all very popular. This allows users from multiple countries to buy and enter crypto using their local currency.
Crypto.com Fees
When it comes to trading fees, Crypto.com is pretty competitive in its pricing. They are actually among the few that offer the lowest trading fees on the market. 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.
However, Crypto.com users who are newer than 25 000 USD will be charged 0.4% for trades that have a monthly volume less than $25,000.
Below is a table showing fees for spot and margin trades for customers with no CRO stake amount.
| 30-Day Spot Trading Volume (USD) | Maker | Taker |
| Less than 250,000 | 0.0750% | 0.750% |
| Greater than or equal to 250,000 | 0.0700% | 0.0720% |
| More than 1,000,000 or equal | 0.0650% | 0.0690% |
| Greater than or equal to 5,000,000 | 0.0600% | 0.0650% |
| Greater than or equal to 10,000,000 | 0% | 0.0500% |
The table below shows the maker and taker rates of those with less than 100 CRO (3% discount).
| 30 Day Spot Trading Volume (USD) | Maker | Taker |
| Below 250,000 | 0.0728% | 0.728% |
| Greater than or equal to 250,000 | 0.0679% | 0.0698% |
| Greater than or equal to 1,000,000 | 0.0631% | 0.0669% |
| More than 5,000,000 or equal to 5,000,000 | 0.0582% | 0.0631% |
| Greater than or equal to 10,000,000 | 0% | 0.0485% |
As said, the higher your CRO stakes are the bigger your discounts. Stakes over 50,000 CRO are exempt from maker fees. Those who have even more may even enjoy 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. It was reported that the company lost US$15 million worth of Ether. This was after some users reported suspicious activity on their accounts. The company quickly paused withdrawals which were later restored. The company stated that customer funds had not been lost in the process of restoring withdrawals.
Crypto.com’s problems were mostly caused by the decline in cryptocurrency. As such, Crypto.com had to let go of hundreds of employees, which started in May. In October 2022 alone, it was reported that the company had to lay off at least 30% to 40% of its staff.
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. Crypto.com CEO Marszalek reassured that the exchange was operating normally.
Crypto.com Cons and Pros
Pros
- Competitively Low fees
- There are many ways to pay with crypto
- Converts money easily
- Great cash back rewards with Visa card Perk
- Allows you to earn interest on crypto
- There are a lot of crypto coins and tokens available Huobi vs Binance
- Strong security
Cons
- User interface and the exchange itself is pretty difficult to navigate
- There are limited availability of coins.
- Some areas are lacking customer service and some of it is very poor.
- THere is a lack of educational resources.
> > Click Here to Sign Up and Get 100 USDT Trading Fee Rebate < <
Binance versus Kucoin
Comparing KuCoin to Binance side-by-side, it is clear who the winner is. It is Binance, and that is by a lot. KuCoin, despite being one of the earliest platforms for trading cryptocurrencies, has been left in the dust by the likes of Kraken and FTX (at least before they went bankrupt).
KuCoin is still available to its users, but most traders avoid it like the plague. Many negative reviews have been written about the exchange, with a variety of reasons. Some are semantics while others are alarming.
KuCoin Overview
KuCoin is a crypto exchange platform launched in 2017 by tech geeks Micahel Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhum, and Linda Lin. The company was founded back in 2013.
KuCoin was founded by MichaelGan, who was eager to learn more about blockchain and the potential applications. Eric was his boss and he told him about Bitcoin. He then got involved in the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. This was in direct proportion to the impact blockchain had on the world, particularly with the way that crypto and Bitcoin changed the global financial system.
By the end of 2013, Michael and Eric wrote down the first code of what would become KuCoin in a cafe. This was how the platform, which would later be known as the “People’s Exchange,” got its start.
Cryptos under KuCoin
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. In fact, it is one of KuCoin’s strongest aspects that the platform is a goldmine for altcoins and tokens. Huobi vs 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 lesser-known coins are riskier than the more stable and popular ones. As such, people need to understand what people are getting themselves into.
KuCoin also has it’s token, simply called KuCoin Token (KCS). The following are some other popular coins that can be found on the exchange platform:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
- Binance Coin (BNB)
- XRP (XRP)
- Chainlink (LINK)
- Filecoin (FIL)
- Internet Computer (ICP)
- Wrapped Bitcoin (WBTC)
- USD Coin (USDC)
These are only a small selection of the many options available on the exchange platform.
KuCoin Perks
- Wide range of Coins
KuCoin offers a wide range of tokens, coins and altcoins that are available for trading on their exchange. It is actually the top echelon for coins that are available on the exchange.
It is also easier to find smaller coins than other platforms on these platforms. For traders who want to branch out into less popular crypto, KuCoin will be the perfect platform for them.
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 advantageous for the coin and users who want to get in on a new currency early.
- 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. 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. Huobi vs 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. KuCoin Earn is the name of the KuCoin service.
KuCoin Earn gives you two ways to make money 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.
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. Although it might seem risky, the company assures that all lenders will be fully repaid.
That repayment might come from the borrower’s collateral or a KuCoin margin insurance fund.
- Advanced Features
KuCoin provides veteran users with plenty of toys and extra features to play with. They permit margin trading which allows users leverage their position which allows them to borrow money to purchase more crypto.
KuCoin also allows the use of trading bots in its mobile app. This 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 are susceptible to errors and you may lose out on many 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. Both have an abundance of features and tools which you can use when doing trades on the platform.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. Users can view markets, trade, buy, lend, or trade cryptos from there.
The platform supports four order types. These include market order, limit or stop-limit orders, and stop-market orders.
Besides orders, users also have access to margin, futures, and P2P trading. You can stake your crypto to earn some back or get a discount on trading fees. Huobi vs Binance
Recently, the exchange has just added a Trading Bot feature to help simplify the whole trading process.
KuCoin is a great cryptocurrency with many 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.
| Trade Fee Level | Min KCS Holding last 30 Days | Spot Trading Volume Last 30 Days (BTC) | Futures Trading Volume Last 30 Days (BTC) |
| LV0 | 0 | <50 | <200 |
| LV1 | 1000 | >=50 | >=200 |
| LV2 | 10000 | >=200 | >=400 |
| LV3 | 20000 | >=500 | >=1000 |
| LV4 | 30000 | >=1000 | >=2000 |
| LV5 | 40000 | >=2000 | >=3000 |
| LV6 | 50000 | >=4000 | >=6000 |
| LV7 | 60000 | >=8000 | >=12000 |
| LV8 | 70000 | >=15000 | >=20000 |
| LV9 | 80000 | >=25000 | >=40000 |
| LV10 | 90000 | >=40000 | >=80000 |
| LV11 | 100000 | >=60000 | >=120000 |
| LV12 | 150000 | >=80000 | >=160000 |
These levels will determine how much you’ll have to pay for taker or maker fees. Spot trading fees are charged in accordance with the base currency for the trading pairs. Paying fees with KCS will net users 20% off.
Also, KuCoins has a 24h withdrawal limit.
| Trading Fee level | Maker/Taker | 24h Withdrawal Limit |
| LV0 | 0.1% / 0.1% | 200 |
| LV1 | 0.09% / 0.1% | 200 |
| LV2 | 0.07% / 0.09% | 200 |
| LV3 | 0.05% / 0.08% | 200 |
| LV4 | 0.03% / 0.07% | 200 |
| LV5 | 0% / 0.07% | 500 |
| LV6 | 0% / 0.06% | 500 |
| LV7 | 0% / 0.05% | 1000 |
| LV8 | -0.005% / 0.045% | 1000 |
| LV9 | -0.005% / 0.04% | 2000 |
| LV10 | -0.005% / 0.035% | 2000 |
| LV11 | -0.005% / 0.03% | 3000 |
| LV12 | -0.005% / 0.025% | 3000 |
KuCoin Issues
KuCoin doesn’t have the best reputation in this industry, to be honest. You can see the extent of dissatisfaction by just looking at the reviews.
Trustpilot reviews gave it an average rating of 1.7 stars out 600 reviews. Most of these negative reviews are about problems with customer support, the withdrawal process, and even making deposits Huobi vs Binance
KuCoin has also been accused of market manipulation, with some even saying their assets randomly disappeared from their accounts. This is a problem especially when it comes to assets, money and finance.
Security is another issue.
While KuCoin is a generally secure crypto exchange, it was subject to a major hack back in 2020. The exchange lost about $280 million worth of crypto from users’ hot wallets to hackers. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Cons
Pros
- Low fees
- Strong user base
- Wide 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
- 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. Despite being similar, the two platforms have major differences.
One key difference between these two platforms has to do with size. Bittrex is more focused on a scaled-down experience, whereas Binance has the highest trading volume of all the exchanges.
Bittrex was once one of the top cryptocurrency exchanges in the world. 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 can be found in Seattle.
In the beginning, the platform only offered crypto-to-crypto trading, but it soon introduced fiat-to-crypto trading. Huobi vs Binance
Despite the newness of their fiat trading, they still offer a wide selection of cryptocurrencies and stablecoins. They are also available in 46 states of the United States, except Hawaii, New York, Vermont, and Vermont.
Cryptos under Bittrex
Bittrex 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
- A huge selection of cryptocurrency
As stated above, Bittrex has a rather sizable option of cryptocurrency available in their market. 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. It is still not the lowest on the market. Some exchanges have lower fees compared to them.
- Execution of fast trading
Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This engine even works well despite high demand. This is a great way for investors to take advantage of volatile markets like cryptocurrency’s price fluctuations.
- Cardano staking
Those who hold some Cardano (ADA) cryptocurrency would be overjoyed with this platform. Bittrex allows users to stake their Cardano crypto throughout the exchange. This can earn them up to 5.5% in rewards. Huobi vs Binance
- Educational Content
We all know how arcane-ish finances in general are. So by association, cryptocurrency is just as mind-boggling and arcane. So anything that offers a way to educate yourself on the topic is a godsend.
In Bittrex’s case, it offers an impressive library of educational resources in its Discover section. 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.
You can even see a breakdown of some of these cryptocurrencies on the platform, which will give you an idea about what you’re betting on and whether it is worth your time.
While it does not fully remove the risk in cryptocurrency, at least it helps users make more informed decisions. Huobi vs 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 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. 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.
A real-time view of all the market data available on the platform is also available to users. Users also have the option to place more complex orders. You can also choose from stop, stop limit, trailing stop and laddered orders.
Bittrex Fees
Bittrex has a simple fee structure that makes it easier to understand their fees than other exchanges. 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 |
| Below $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| $100,000 – $1 million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 Million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has received negative reviews from users. Many of these problems are caused by account lockouts, assets that have been frozen, and identity verification issues. These problems are widespread across all crypto exchanges.
At the very least, the platform has not seen any major controversies or setbacks.
Bittrex Pros and Cons
Pros
- High security
- A wide range of cryptocurrency available
- Fairly low fees
- Advanced trading tools
- Pretty helpful educational content
Cons
- Customer support is mediocre and often unhelpful
- Can be challenging for beginners
Binance versus eToro Huobi vs Binance
Binance and eToro are two of the most well-known cryptocurrency platforms. They are both pretty famous and lead the market in what they do.
However, there is a difference that divides the two. They are two very different platforms. Binance is a cryptocurrency exchange. eToro, however, is not. Rather, it is a cryptocurrency broker.
Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other services. Meanwhile, a cryptocurrency broker sells crypto alongside other investment products like stocks and fractional shares.
eToro Overview
eToro was not founded as a cryptocurrency platform, unlike most companies in this review. Rather, the Tel Aviv-based company was originally an online forex broker under the name RetailFX. This was in 2007.
RetailFX began offering stocks, indices and commodities. It changed its name to eToro. It later launched the innovative social trading feature, which allowed users to copy trades from successful traders on the platform.
eToro only got involved in the crypto market when it added support for BTC in 2014. CFDs could now be bought and sold to non-U.S. users. The world’s most popular digital currency. Four years later, it also added support for Ripple (XRP) and Ethereum (ETH). Huobi vs Binance
In 2018, eToro also made a big push in the crypto market. More coins and currencies were added to the platform. The company even launched its digital asset platform, eToroX, and even its crypto wallet.
Cryptos under eToro
eToro’s digital asset platform has a limited selection of cryptocurrency options. This is probably because they did not start as an exchange but 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
CopyTrader is eToro’s most distinctive feature. This feature existed long before the platform began to explore the crypto industry. Huobi vs Binance
This basically allows eToro users to copy trades done by their favorite traders with just one click. The trade can be initiated by setting the money that the user wants to spend.
From there, the platform will set those funds and try to mirror the positions of their favorite eToro trader proportionally.
What is surprising about this tool is that it is entirely free. This feature requires a fee, but it can be used as often as the user wishes.
- Invest more than crypto.
Since the platform started in foreign exchange, it was to be expected that new users could still get in on that action.
eToro allows you to have both stocks and cryptocurrency in one account. The platform also offers stock trading at zero commissions and the possibility to purchase fractional shares.
eToro provides a virtual brokerage account which allows you to simulate stock investing without putting any 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. Investors can deposit fiat money using a bank transfer or debit card for no additional fees.
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.
It is easy to get started on the platform by depositing fiat currency using a bank account or debit card. Once they have done that, they can trade instantly.
An intuitive trading tab gives a view of current prices and buys, sells, and even converts crypto.
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. However, it lacks some of the more advanced conditional orders and more advanced charting capabilities.
Also, the lack of cryptocurrency choices limits the cryptocurrency fairs the platform can offer.
It is also eToroX, the flagship digital asset platform with all the bells and whistles users would expect from an institutional-grade exchange.
eToroX now offers U.S. Dollar deposits, margin trading and trading APIs. It also allows for fast execution.
eToro Fees
When it comes to fees, eToro is a breath of fresh air. Unlike most cryptocurrency exchanges, which don’t show their fee, eToro lists the fees it charges when trading crypto.
eToro users are charged a flat fee of 1% per trade in crypto. The platform refers to this 1% market fee as a bid-ask spread. This fee is charged when users close or open positions.
However, most users do not like that on eToro, and you pay for the “round trip” upfront. This is different from other exchanges, which only charge fees when an asset is purchased or sold.
eToro charges 1% upfront for the eventual sale and a $1 purchase fee.
Users can have this problem if they transfer their coins to another wallet. They can’t return the coins to the trading platform.
eToro Issues
Due to its age, it is not surprising that the platform has had its fair share of controversies. However, most of these do not involve the crypto market.
One that does, though, happened during the 2021 closure of leveraged position. The following was notified to European clients of the platform in the early part of that year:
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. It even provoked actions of having the eToro license in Cyprus revoked.
eToro was also in a feud with Redditors of /r/wallstreetbets after the GameStop short squeeze.
eToro Pros and Cons
Pros
- A platform that is already established
- Regulated in many jurisdictions
- CopyTrading, a unique feature only available on the platform, is an exclusive feature.
- 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.
- The 1% fee is quite high in comparison to other fees.