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.
A cryptocurrency exchange, by definition, is an online platform where users can trade one type of digital asset for the other. These exchanges will be based on the market value of the given assets.
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 place offering the right to exchange one fiat currency for another to its customers.
Meanwhile, a stock exchange is a facility where stock brokers trade company stocks and other securities. Only stocks that are listed on an exchange can be purchased or sold. Stock exchanges are marketplaces that stock sellers and buyers use to trade their stocks.
In the digital world, cryptocurrency exchanges provide similar services to banks and Stock exchanges.
Still, as with there are people who still treat cryptocurrencies with trepidations and agitations. For some people, cryptocurrencies and cryptocurrency exchanges are treated as borderline illegal online marketplaces.
These people believe these places could facilitate the trading of unregistered securities. They believe that crypto exchanges can be places where suspicious people can launder money and have limited AML/KYC to evade the law.
Of course, some of these claims are not entirely unfounded. 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. When this happens, these exchanges might not be able to return your money because some operate illegally in gray areas.
You may also be unable to withdraw or sell your cryptocurrency and digital assets due to your funds being locked in an exchange. This could happen when your cryptocurrency exchange is seized or under investigation by the authorities.
There is also the possibility that you will lose your money by speculating in cryptocurrency, and then have the rug pulled under your feet by the founders of these exchanges. This is especially true if these founders are scammers or hustlers who excel at what they do.
Remember, when working with cryptocurrency and anything related to them, everything is always a gamble. It is smart to always proceed with caution. Like with gambling, there are more chances of losing than winning. High-risk, high-reward.
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 Kucoin vs Binance vs Kraken
Binance Overview
Binance exchange is the largest cryptocurrency exchange in the world. It offers the largest number of trading pairs and has the highest trading volume among all crypto exchange services.
Binance was established in 2017 by Changpeng Zhao, a Chinese-Canadian entrepreneur. Initially, the company was based in China. However, due to growing crypto restrictions in China, the company moved to Japan and then to Malta.
Back then, the company had no place to call home.
The company is currently based in Malta. 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. You can even get loans, do payments, and even avail of credit cards from the service.
Cryptos Under Binance
Binance has its own tokens and cryptocurrency. There are actually two.
The first one is called BUSD. It is a stablecoin fiat-backed issued by Binance and Paxos. This stablecoin token is backed 1:1 by 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.
The second is called BNB. It was previously known as Binance Coin. The initial coin offering (ICO), launched it in 2017. This was to provide an asset for users back when Binance was still very young. It was originally an ERC-20 standard token that was built on the Ethereum blockchain.
Currently, it is a native token of the Binance ecosystem, where it plays an essential role by powering operations. It’s used to pay trading, listing and exchange fees as well as other expenses that users incur on the platform.
Binance Perks
- Low fees
This is the main reason Binance is the largest crypto exchange platform worldwide. Binance trades can be done for free. The platform charges a maker/taker fee. Fees will vary depending on trading volume and Binance Coin (BNB) balance.
That said, the platform still charges fees for some services, such as withdrawal and payment types.
- Large Selection of Cryptos
The number of cryptocurrencies on the market will determine how good a crypto exchange platform is. Binance is the largest crypto exchange platform. This means that it has a lot of digital currencies.
Decentralized finance tokens (DeFi) are also available.
Some of the 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.
- Multiple ways to Earn
For those wanting to get more mileage out of their investments, Binance allows you to earn more from your crypto assets. Customers can earn income by adding liquidity to token pairs. You can also try on some staking options available on the platform.
That said, most of these opportunities carry great risk, so it is up to users to discern and weigh these risks. Trading and dealing in crypto is risky enough.
- Advanced trading tools
Binance wouldn’t be considered a crypto-exchange platform if it didn’t have trading tools.
Binance 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. There are even features that allow users to sell leveraged tokens and make trade easier.
Binance Trading Experience
Binance’s overall trading experience is excellent. You can trade with Binance using a variety of trading tools, which allow for faster and more efficient transactions. Some even have real-time charting tools with moving averages which makes everything convenient and accessible.
You don’t have to trade on your computer. Rather, you can use Binance however you want. It’s possible to do this through the Binance App or the Binance website.
Traders will not need to use multiple platforms or other tools to keep track of their portfolios as the platform already does it for them. Even those who want to keep track of their trades will only need to access their trade history, which is also available on the exchange platform.
Even how they view their trading can be customized. This makes it easier to understand data. 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.
Whether you are a maker or a taker will also determine how much you will get on fees. 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 also offers 0% trading on selected Bitcoin and Binance USD (BUSD) pairs.
The chart below can be used as a quick reference for Binance’s fees.
| VIP | 30-Day Trade Volume (BUSD) | Maker/Taker |
| 0 | Less than 1,000,000 | 0.10%/0.10% |
| 1 | 1,000,000 to 4999,999 with at least 25 BNB | 0.09%/0.10% |
| 2 | 5,000,000 to 19,999,999 and at least 100 BNB | 0.08% / 0.10% |
| 3 | 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 | Between 200,000,000 and 499,999.999,999 with at least 1,000 BNB | 0.06% / 0.08% |
| 6 | 500,000,000 to 99,999,999999 and at most 1,750 BNB | 0.05% / 0.07% |
| 7 | 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
Binance is a crypto-currency company that has many problems and controversy, despite being the most prominent.
The year 2019 was a terrible year for the exchange platform.
Binance was the victim of a large-scale security breach on May 7, 2019. It was discovered that hackers stole 7,000 Bitcoins worth $40 million. That said, the site reimbursed customers through its “Secure Asset Fund for Users(SAFU).
It wasn’t as bad as 2021. 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 was also forced to cancel its planned launch in Britain of a digital asset marketplace. Their application did not meet anti-money laundering requirements.
It was again in trouble the next year when it was revealed that Binance had shared client data with Russia. In an effort to combat crime, these data contained names and addresses.
Then in October of the same year, it suffered another hack on its network. After discovering an exploit between two different blockchains, the company had to suspend transactions and funds transfers temporarily. As soon as the issue was discovered, it was resolved.
From the total $570m stolen, approximately $100m of funds were not recovered.
Binance Pros & Cons
Pros
- Low Fees
- Easy Access to Passive Income Opportunities
- Wide Selection of Cryptocurrencies
- Trading tools that are sophisticated
- Multiple ways of Depositing Money
- Flexible Trading Options and Order Types
Cons
- Non-beginner friendly. For beginners, many features can be difficult to access and use.
- Regulation issues with many countries, including major ones such as the United States, Japan and the United Kingdom.
- Not available in the United States because of regulatory issues. Even the US-specific service, Binance U.S. (a more limited version), is unavailable in some states.
- There is no built-in digital wallet
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Binance Versus Coinbase
There are no two different cryptocurrency platforms whose approach can differ as much as Coinbase and Binance.
The one is an American-based exchange and is suitable for beginners. It has a simple interface with limited transaction types and is best suited for veterans.
The crux of the difference between Coinbase and Binance is who their main audience is and how they cater to these people.
Coinbase Overview
Coinbase, 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. The company used to have its headquarters in San Francisco. However, this palace was demolished and the company moved to remote-first.
Brian Armstrong, an ex-engineer at Airbnb, founded Coinbase in June 2012. He started coinbase by enrolling in the Y Combinator startup incubator program, where he received a $150,000 cash infusion.
After seeing Armstrong’s Reddit post, Fred Ehrsam became his co-founder. This was back when bitcoin was worth only $6 and only known by ” a few nerds on the internet” (Ehrsam’s words, not mine).
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. That was their impetus for making Coinbase.
While Coinbase now sits among the pantheon as the biggest crypto exchange in the United States and one of the biggest worldwide, its beginnings were not glamorous. In truth, Coinbase launched out of a two-bedroom apartment that was shared with another company. Kucoin vs Binance vs Kraken
Cryptos Under Coinbase
Coinbase doesn’t have any original coins or cryptocurrency. That said, the platform does support over 100 cryptocurrencies. As the need arises, they add new cryptocurrencies regularly.
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: 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. You can even trade Bitcoin (BTC), and other major currencies, for smaller or newer digital tokens.
Coinbase is the only cryptocurrency exchange that offers a wide selection of products in the U.S. market.
- Simple and advanced trading
To make the platform more accessible, Coinbase provides two separate trading tools that users can access in their accounts. Users can choose between a simple trade option or an advanced trading option.
The simple trading option features a straightforward design that is easy to use, especially for beginners. 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.
Meanwhile, advanced trading offers more features, such as charts, a live order book, and even the ability to limit orders. While this option has lower fees, the trade-off is that it is less intuitive, more complex, and intimidating to new users.
With that said, placing your trades in advanced trading is highly advisable just to maintain low fees.
- 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. 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 that amount is
- 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 up its accessibility factor by allowing users to access their accounts with a mobile app. Like the web platform, their mobile app provides user-friendly ways to buy, sell, and manage your cryptocurrency.
This Coinbase App is not just something that is not some garbage or bloatware. It’s legit and gets high ratings from both the Apple App Store as well as Google Play Store.
- Crypto Rewards
Your Coinbase account can allow you to earn interest on many cryptocurrencies. Coinbase automatically pays interest on certain stables like USD Coin (USDC).
This allows you stake certain cryptocurrencies such as Solana (SOL), and Ethereum (ETH).
Staking allows participants to receive rewards for their crypto assets. It is how many cryptocurrencies verify transactions. You commit your crypto assets to support a blockchain network and confirm transactions when staking in cryptocurrencies. Kucoin vs Binance vs Kraken
You will receive certain rewards for staking cryptos. Of course, not all cryptos are eligible for this. It depends on where you live and the cryptocurrency.
- Coinbase Debit card
Coinbase lets users trade, but also allows them to access their hard-earned wealth and use it with the Coinbase card.
If you have a Coinbase account, you can apply for a Coinbase card, a prepaid Visa debit card linked to your Coinbase account 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. This rewards program allows you to choose the crypto that you want from a rotating list.
Coinbase Trading Experience
If Binance provides low fees and more advanced training tools, Coinbase is geared towards a more different type of user. Coinbase’s target market is those just beginning their crypto journey.
The platform offers tools that allow investors new to crypto trading a fast, easy, and secure way to trade. This is linked to their original goal of “making Bitcoin easier to use.”
They have provided their determination to achieve this vision by letting users earn cryptocurrency just for watching tutorial videos geared towards beginners.
This doesn’t mean veteran traders only have beginner tools to play with. Coinbase Pro is the perfect platform for you. This platform is designed for experienced traders. Kucoin vs Binance vs Kraken
Coinbase Pro is different in that it was made for professional traders and gives them more tools, allowing for better customization of their trades. Examples include the ability to choose among several order types, such as stop or limit order and margin order.
Users can also access real-time charting tools, trade history, order book, and price charts. This can help them create more informed decisions when moving their positions and doing their trades.
While it says pro on the tin-can, it doesn’t mean that users will have to pay another fee to access Coinbase Pro. No, there is no need for that. Anyone with a Coinbase account can already access and use the pro version.
Coinbase Trading Fees
The thing with Coinbase is that they do not give away their pricing and fees. 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.
To be honest, this is where coinbase falls off from the competition. Its fee structure can be too complex and a little hard for the mind to wrap around. The fee structure is based on three factors that can be confusing:
- Coinbase charges a spread on cryptocurrency sales and purchases. The spread is significant because rates can fluctuate depending on market conditions.
- Coinbase claims fees are also based on factors such as the selected payment method, market conditions (volatility and liquidity), and even the order size.
- Lastly, Coinbase also charges fees to cover the costs of executing transactions on the external blockchain networks that support the cryptocurrencies in which it deals. Kucoin vs Binance vs Kraken
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.
Below is a chart that shows you the fees you can expect from the main coinbase platform.
| Trade Size | Coinbase Fee |
| $10 or less | $0.99 |
| From $10 to $25 | $1.49 |
| $25 to $50 | $1.99 |
| $50 to $200 | $2.99 |
Trades above $200 have a percentage-based fee rather than a flat fee.
For Coinbase Pro, a general idea of the fees is shown in the chart below.
| Pricing Tier | Taker Fee | Maker Fee |
| Up to $10K | 0.60% | 0.40% |
| $10K – $50K | 0.40% | 0.25% |
| $50K – $100K | 0.25% | 0.15% |
| $100K – $1M | 0.20% | 0.10% |
| $1M – $15M | 0.18% | 0.08% |
| $15M – $75M | 0.16% | 0.06% |
| $75M – $250M | 0.12% | 0.03% |
| $250M – $400M | 0.08% | 0.00% |
| $400M+ | 0.05% | 0.00% |
Coinbase Issues
Given how much of cryptocurrency is still in a legal area, there is a distinct chance that those involved in it will have their fair share of issues or controversies.
On February 16, 2018, Coinbase admitted that some customers were charged more than originally intended for their credit and debit purchases of cryptocurrencies. 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.
Coinbase received more customer complaints than ever in 2018, with an increase of over 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 was also involved in the first-ever case of insider trading regarding cryptocurrency. The company’s former product manager shared information about tokens. The company provided prosecutors with the right information for an internal investigation.
Pros and cons of Coinbase
Pros
- Easy to use and very friendly for those just starting in cryptocurrency
- Supports a large number 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 Kucoin vs Binance vs Kraken
Cons
- Complex and complicated fees structure, which is not transparent
- Some transactions attract high fees
- There are limited staking opportunities and interest possibilities.
- There are a bunch of altcoins missing from their selection
- Customer service issues
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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.) Kraken, however, is readily available in the country.
These two platforms share many similarities, including both offering advanced trading options and low fees as well as mobile apps. Their target audiences are the same as they are geared towards seasoned or even veteran and advanced cryptocurrency traders.
Customers will ultimately decide which platform they prefer by choosing the most important features. Binance will be the one to choose with their lower fees, large selection of coins and extra way of managing funds. Kraken or Binance with their high security standards that won them a Wyoming bank charter approval in 2021. Kucoin vs Binance vs Kraken
Kraken Overview
Kraken is a fully functioning crypto exchange that offers low fees and a wide selection of tokens and coins. One of the most defining characteristics of this platform is that it is one of the only U.S. crypto exchanges to provide advanced trading tools like margin.
Kraken’s main cause is to become the best and most secure crypto trading platform. Kraken is praised by traders and users alike for not being involved in any kind of suspicious activity against their users… and that doesn’t follow questionable corporate policies.”
Jesse Powell, Kraken’s founder and former CEO, tweeted that the November 2022 FTX Controversy was a “”…Happy life, pay a fee for matching trades” A balance sheet is mostly Bitcoin, some ETH.
Kraken was co-founded in 2011 by the aforementioned Jesse Powell, who was an alumnus of California State University, Sacramento, with Thanh Luu. However, it was only launched in September 2013, offering Bitcoin, Litecoin, and euro trades. Additional currencies and margin trading were to follow.
Powell began working on Kraken as a possible replacement for Mt.Gox, another bitcoin exchange based in Shibuya, Tokyo, Japan. Before its 2014 collapse due to failed security audits, Powell was a consultant to the exchange.
Kraken 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. Kucoin vs Binance vs Kraken
The year 2014 was very big for Kraken. In March of that year, the company received a $ 5 million Series A investment from Hummingbird Ventures and Bitcoin Opportunity Fund.
It was later listed on Bloomberg Terminal as one of the first bitcoin exchanges. Then it has chosen to assist with investigating the lost bitcoins of Mt. Gox, CEO Powell’s former employer. Kraken was relied upon because of its proven operating history of not being breached by hackers.
In September 2020, Kraken became the first cryptocurrency exchange to hold a special purpose depository institution (SPDI) charter in the United States after Wyoming granted such a charter to the company.
Chief Executive Officer Powell resigned as CEO of the platform on September 21st, 2022. He said that he had spent more time on the product, the user experience and industry advocacy.
Dave Ripley replaced him as CEO.
Cryptos under Kraken
Kraken supports at most 110 cryptocurrencies. The most well-known and popular currencies are:
- Bitcoin (BTC)
- Ethereum (ETH)
- Cardano (ADA)
- Dogecoin (DOGE)
- Litecoin (LTC)
- Polkadot (DOT)
- Polygon (MATIC)
- Ripple (XRP)
- Stellar Lumens (XLM)
- Solana (SOL)
- Sushi (SUSHI)
- Uniswap
Kraken supports several stablecoins, including Tether, USD Coin and Dai. Kraken also has a limited currency exchange that is available in select territories. You can convert US dollars into Canadian dollars, Japanese Yuen and Swiss Francs. Kucoin vs Binance vs Kraken
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.
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
- 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. Kucoin vs Binance vs Kraken
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 of the exchange rate between two currencies that are traded on FX markets.
In the case of Kraken, one currency pair would be using dollars to buy Bitcoin and vice versa. 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 lets you leverage currency pairs 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 is even cheaper than other exchanges.
There are no set trading fees, which will differ from exchange to exchange. One sure factor, though, is that your fees will depend on your monthly trade history. 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. Users have the opportunity to stake over 15 different 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. Kraken Pro is the cheaper of these two exchanges. Both platforms are available to anyone with a Kraken account.
Kraken is a trading platform that’s geared towards intermediate-to-experienced users. The platform is accessible to beginners if they wish. To learn the ropes, it is recommended that they begin with the Kraken central platform. Kucoin vs Binance vs Kraken
Kraken allows verified accounts with linked bank accounts to purchase cryptocurrency quickly. 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.
It is easy to purchase cryptocurrencies with 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.
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. This makes Kraken Pro very intimidating, especially to trading newbies. However, it is worth learning. Kucoin vs Binance vs Kraken
It includes more detail about assets, active charts and the ability to view open orders.
As stated above, Kraken also allows for lower fees. If you feel confident, you can trade the same trade with Kraken Pro. You’ll pay less and earn more at the end of the day.
Kraken Fees
Kraken’s fees fall in the middle of the market, as we have already stated. It is not the lowest on the market and it is not the highest. There are other factors that could affect the cost of the fees you will be paying.
Prices and fees may vary depending on the platform. Kraken Pro will always have cheaper fees than the normal Kraken.
Fees for instant purchases are 1.5% for most cryptos and 0.9% for stablecoins that use the U.S. Dollar or another stablecoin.
There are also additional fees that depend on how you fund your purchases. For funding with a bank account, these fees range from 0.5% to 1.5%. For a digital wallet, you can get a 25-Euro cents debit card, credit card or card at 3.75% plus 25 Eurocents. Kucoin vs Binance vs Kraken
Kraken Pro’s pricing however is quite different. Generally, fees are lower than the main Kraken platform. Your fees will also be based on your total trading volume over the last 30 days. Another fee to remember is that most transactions are subject to a 0.26% taker fee or 0.16% maker fee.
Below is a general chart of their maker-taker fees in a 30-day volume in US dollars.
| 30- Day Volume (USD) | Maker | Taker |
| $0 – $50,000 | 0.16% | 0.26% |
| $50,001 – $100,000 | 0.14% | 0.24% |
| $100,001 – $250,000 | 0.12% | 0.22% |
| $250,001 – $500,000 | 0.10% | 0.20% |
| $500,001 – $1,000,000 | 0.08% | 0.18% |
| $1,000,001 – $2,500,000 | 0.06% | 0.16% |
| $2,500,001 – $5,000,000 | 0.04% | 0.14% |
| $5,000,001 – $10,000,000 | 0.02% | 0.12% |
| $10,000,000+ | 0.00% | 0.10% |
Kraken Issues
Kraken has not had to deal with any issues other than disagreements about its work culture, which the company has worked on and is now ready to move on.
On the security side, Kraken has lived up to customer expectations and has proven itself with being the only major cryptocurrency exchange that has not been a victim of a major hack.
That said, Kraken has its fair share of issues regarding government regulations.
In April 2018, Kraken refused to comply with an investigation by the New York Attorney General’s Office on issues about the measures taken by crypto exchanges to protect their customers from money laundering and market manipulation.
Kraken’s main reason is that doing so would be bad for business.
Approximately a year after, the Office of Foreign Assets Control investigated the exchange for potential violation of sanction regimes by allowing trade for customers based in Iran. Kraken was fined $1.25million by the Commodity Futures Trading Commission in September 2021 for allowing unregistered margin trades.
Kraken Pros and Cons
Pros
- Advanced and sophisticated features like margin trading and staking.
- Excellent and reliable customer service
- Relatively low Bitcoin (BTC) withdrawal fees
- Offers a variety of educational materials.
- Most secure exchange in the market
- Simple user interface
Cons
- The Base Kraken platform is more expensive than Kraken Pro. Both modes can be accessed as long you have a Kraken account.
- Kraken only accepts a few fiat currencies
- Some users have complained about having their accounts hacked. Kucoin vs Binance vs Kraken
- It is not available in all U.S. States
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Binance versus crypto.com
Binance and Crypto.com are some of the more popular exchanges in the cryptocurrency industry. Both offer a wide range of features, such as low fees, staking, and advanced trading. However, it does not mean that the two platforms 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. There are many factors that influence which exchange is ranked higher than another.
It is better to look at both options before you choose the crypto exchange that appeals to your needs. You can choose to go with Binance, which has a wider range of crypto currencies, but you will also have the option to choose Crypto.com, which is more user-friendly and charges lower fees. Kucoin vs Binance vs Kraken
Crypto.com Overview
Crypto.com was established in Hong Kong in 2018 It was originally called Monaco by founders Bobby Bao, Gary Or, Kris Marszalek, and Rafael Melo. It only became Crypto.com when the company purchased a domain that cryptography researcher and professor Matt Blaze owned.
The sales might be on the bigger one, with Domain sellers valuing the domain at US$5 – 10 million.
As for the overall platform, Crypto.com does what most cryptocurrency exchanges does. It allows users to trade, invest, put a stake in some currency and much more.
You can also choose from over 250 currencies. There are reasonable fees and discounts for some customers, such as those who have large stakes in Crypto.com’s own coin, the Cronos (CRO).
Crypto.com’s main selling point and focus is in their exchange. However, that is not what they all do, they also offer a variety of crypto services which include their own crypto wallet, and even an NFT shop. The company has even partnered with Shopify those in the e-commerce platform accept cryptocurrency as a valid payment.
Overall, we can consider Crypto.com as an all in one cryptocurrency platform that is perfect for investors and traders who want to do more than buy and hold. Crypto.com allows cryptocurrency to be used as currency.
Cryptos under Crypto.com
In terms of selection, Crypto.com has a huge one available. You can trade spot with more than 250 currencies, and you can also staking. 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
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. Kucoin vs Binance vs Kraken
Crypto.com Perks
- One-Stop Shop
Crypto.com is more than a trading platform. You can trade cryptocurrencies and buy and sell them on the exchange.
Crypto.com lets you spend your crypto with a prepaid Visa Card. Basically, Crypto.com puts weight on the currency part of cryptocurrency.
- Low Fees
Crypto.com’s low fees are comparable to many other sites.
There are many transactions on Crypto.com that don’t require fees. You can deposit your money via wire transfer or electronic bank to your account.
Crypto.com also allows you to purchase and sell cryptocurrency at its true cost, giving the real meaning of “what you see is what you get.”
The platform charges a fee for purchases of crypto with a debit or credit card. As an added reminder, payments made with a credit card may also have an added charge of a cash advance fee when buying crypto
- Convert Your Money Easily
While this is not a feature unique to Crypto.com, it bears being listed here. Users can convert fiat currencies to crypto with the Crypto.com app. Crypto.com only supports 20 fiat currencies.
These fiat currencies include USD, GBP, and EUR, among others. But, just because a fiat currency is listed on Crypto.com, does not necessarily mean it will be available for you to trade. 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.
Currently, Crypto.com has five types of prepaid Visa Cards available to its users. Granted, these cards will need to be topped up before one can fully utilize their uses.
The type of Card available for you will also depend on how much CRO stake you have in the platform.
The lowest available tier for those planning to access this card would be their Ruby Steel card, which also offers a 1% money back from your contribution. Of course, you will need to have at least a $400 stake to be able to avail of this.
Meanwhile, those who own deeper pockets can avail of their top-of-the-line, Obsidian tier. This tier earns you 5% cash back or cryptoback, as well as lots of bonuses. To qualify, you will need to have at least $400,000 in stakes. Kucoin vs Binance vs Kraken
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
As a one-stop shop for everything crypto, Crypto.com isn’t just a place to buy coins and tokens. Crypto.com accounts can earn high interest rates. 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.
Using the app, you can increase your interest rate in multiple ways. One way is to stake more than 4,000 CROs. You can even get more if your stake exceeds 40,000 CROs, but this may seem excessive.
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 usually peg their values to an external reference. Some can be pegged to the U.S. dollar. These stablecoins can help you earn more interest.
Stablecoins, being stable, are less likely to appreciate in value than normal cryptocurrencies. They are less likely to lose value.
It is risky to keep your crypto savings. Cryptocurrencies are still a volatile entity, and if it fails, your savings may be reduced… by a lot.
- Gift 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 sells gift cards from well-known brands in a variety of industries, including hotels, general retail, gaming, education, and entertainment from at least 41 different countries. You can also find gift cards from the United Arab Emirates, Norway, Singapore and Spain.
Macy’s and Barnes & Noble are some of the brands.
The amount of cashback you get will still depend on how much CRO you have staked and what type of company it is.
Crypto.com Trading Experience
When using Crypto.com, your trades will mostly revolve around its mobile app, which serves as the platform’s central hub. For those who have been trading stocks on their phone or tablet before, the experience will be easy and similar to what you would expect. Kucoin vs Binance vs Kraken
This app shows the user their portfolio and lists of their most popular assets. It includes everything needed that Crypto.com says it offers. With it, you can trade currencies, earn through staking in crypto, make payments with cryptocurrency, and even sign up for a Crypto.com credit card.
Where would you pick up a trading application without its chart tools. The Crypto.com app shares a simple set of data which aims to not overwhelm or intimidate users. These charts provide enough information for users to understand the cryptocurrency and blockchain, which might be useful before they buy.
Crypto.com offers a wide range of fiat currencies. The most popular are the Australian (AUD), Canadian (CAD), and the euro (EUR) dollars, as well as the British pound sterling and the U.S. Dollar (USD), which are all very popular. This allows users in multiple countries to purchase and get into crypto using their local currency.
Crypto.com Fees
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. 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 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% |
| 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 10,000,000 or equal to 10,000,000 | 0% | 0.0485% |
As said, the higher your CRO stakes are the bigger your discounts. 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
Like most cryptocurrency exchanges, Crypto.com does have its fair share of problems.
On January 2022, Crypto.com was the victim of a serious hack. 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 immediately halted withdrawals, which were then restored. The company stated that customer funds had not been lost in the process of restoring withdrawals.
Most of the problems with Crypto.com were due to the downturn of cryptocurrency in general. As such, Crypto.com had to let go of hundreds of employees, which started in May. The company was forced to lay off between 30% and 40% of its employees in October 2022.
In November of 2022, their exchange token Cronos (CRO) has lost approximately $1 billion in value. This was in part due to the collapse of FTX. 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
- Visa card perk with great cash back rewards
- Earn interest on crypto
- Pretty big selection of cryptocurrency coins and tokens Kucoin vs Binance vs Kraken
- Strong security
Cons
- The exchange interface is not easy to use.
- 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.
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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, 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. The exchange has been troubled by many negative reviews, each with different reasons ranging from semantics to highly alarming.
KuCoin Overview
KuCoin is a crypto exchange platform launched in 2017 by tech geeks Micahel Gan, Eric Don, Top Lan, Kent Li, John Lee, Jack Zhum, and Linda Lin. The company was established in 2013.
KuCoin started because of MichaelGan’s eagerness to learn about blockchain and its application possibilities. He discovered Bitcoin from his boss, Eric, and started getting in on the action.
The impetus came when he found out that the biggest cryptocurrency exchanges during that time were very difficult for beginners to use. They believed this was inversely proportional to how blockchain changed the world, especially with how Bitcoin and crypto changed the global financial system.
By the end of 2013, Michael and Eric wrote down the first code of what would become KuCoin in a cafe. This was how the platform, which would later be known as the “People’s Exchange,” got its start.
Cryptos under KuCoin
It is not surprising that the exchange is an older cryptocurrency exchange platform. This means there are a lot of cryptocurrencies that you can trade and buy.
Veteran traders looking for a wide selection of assets may appreciate this extensive selection of coins and tokens. KuCoin’s greatest strength is its ability to mine altcoins for tokens and coins. Kucoin vs Binance vs Kraken
It was also one of the main reasons why the company was founded in the first place, to give fewer mainstream currencies their spotlight and allow people to access them.
These less-known coins can be more risky than the stable and well-known ones. As such, people need to understand what people are getting themselves into.
KuCoin also has it’s token, simply called KuCoin Token (KCS). 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)
Bear in mind that these are just a few selections of what you can find in the exchange platform
KuCoin Perks
- A 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. 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. KuCoin is the ideal platform for traders looking to diversify into less-popular crypto.
It is a key mission of KuCoin to help smaller and more recent cryptocurrencies succeed. In fact, they even have a Spotlight section, which promotes new currencies.
This is a good thing for users and the coin, as it allows them to start using a new currency earlier.
- Low Fees
KuCoin 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. Kucoin vs Binance vs Kraken
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. You can also lend your crypto to get the interest.
Your interest rate for borrowing crypto is higher than the one you would get from a savings account. That said, the coin and its demand still affect how much you earn.
The exchange claims that you can make a lot of money this way, with an average earning rate of 8% to 12.5%. KuCoin uses this money to finance margin trading. 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 provides veteran users with plenty of toys and extra features to play with. They permit margin trading which allows users leverage their position which allows them to borrow money to purchase more crypto.
KuCoin also allows the use of trading bots in its mobile app. This means that you don’t have to buy and sell your cryptocurrency yourself. Instead, you can let a computer handle that task for you. This is very convenient because you don’t always have to be online in order to run your business.
That said, using bots can be pretty risky. Bots are susceptible to errors and you may lose out on many opportunities. Then there is the fact that you mostly don’t know about their perimeters and strategies when doing their trades.
The convenience bots offer may not be worth the uncertainty about how they handle your assets.
KuCoin Trading Experience
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.
YOu can access KuCoin’s front page or dashboard after logging in to your account, be it on desktop or mobile. Users can view markets, trade, buy, lend, or trade cryptos from there.
In the case of order types, the platform supports four. These include market order, limit or stop-limit orders, and stop-market orders.
Users have access to orders as well as margin, futures and P2P trading. You can stake your crypto to earn some back or get a discount on trading fees. Kucoin vs Binance vs Kraken
Recently, the exchange has just added a Trading Bot feature to help simplify the whole 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
KuCoin breaks down trading fees by levels. These trading fees will mostly depend on 3 factors. 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 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.
KuCoins also has a 24-hour withdrawal limit.
| Trading Fee level | Maker/Taker | 24-hour Withdrawal Limit |
| LV0 | 0.1% / 0.1% | 200 |
| LV1 | 0.09% / 0.1% | 200 |
| LV2 | 0.07% / 0.09% | 200 |
| LV3 | 0.05% / 0.08% | 200 |
| LV4 | 0.03% / 0.07% | 200 |
| LV5 | 0% / 0.07% | 500 |
| LV6 | 0% / 0.06% | 500 |
| LV7 | 0% / 0.05% | 1000 |
| LV8 | -0.005% / 0.045% | 1000 |
| LV9 | -0.005% / 0.04% | 2000 |
| LV10 | -0.005% / 0.035% | 2000 |
| LV11 | -0.005% / 0.03% | 3000 |
| LV12 | -0.005% / 0.025% | 3000 |
KuCoin Issues
KuCoin doesn’t have the best reputation in this industry, to be honest. You can see the extent of dissatisfaction by just looking at the reviews.
Trustpilot reviews gave it an average rating of 1.7 stars out 600 reviews. Most of these negative reviews are about problems with customer support, the withdrawal process, and even making deposits Kucoin vs Binance vs Kraken
KuCoin was also accused of manipulating the market. Some even claimed that their assets disappeared randomly from their accounts. This is a problem especially when it comes to assets, money and finance.
Then there is an issue of security.
KuCoin, a crypto exchange that is generally safe, was hacked in 2020. About $280 million in crypto was stolen from hot wallets and sent to hackers by the exchange. This was a concerning security breach despite the assets being covered by an insurance fund.
KuCoin Pros and Con
Pros
- Low fees
- Strong user base
- Large range of coins
- Allows you to earn interest on your crypto
- Trading features
- Good customer service
Cons
- Not licensed in the U.S.
- Limited payment methods
- New traders can find it intimidating and overwhelming
- Has limited education resources
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Bittrex versus Binance
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. While Binance boasts about the largest amount of trading volumes among the different exchanges, Bittrex aims for a more scaled-down experience.
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, a cryptocurrency exchange, aims to provide a high-quality service with trust and focus.
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.
In the beginning, the platform only offered crypto-to-crypto trading, but it soon introduced fiat-to-crypto trading. Kucoin vs Binance vs Kraken
Despite their new fiat trading platform, they offer many cryptocurrencies and stablecoins. They are also available in 46 states of the United States, except Hawaii, New York, Vermont, and Vermont.
Cryptos under Bittrex
Bittrex has a wide selection of cryptocurrencies and stablecoins available in their exchange. This variety, like most exchanges makes Bittrex platforms attractive to traders.
They 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% Depending on trade volume, this fee can be lower. That said, it is not the lowest available in the market. Some exchanges charge lower fees than others.
- Fast trading executions
Unlike other services, Bittrex has a custom-built trading engine that allows faster trades. This 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. You can get up to 5.5% in reward. Kucoin vs Binance vs Kraken
- Educational Content
We all know how complicated and elusive finances can be. As such, cryptocurrency can be just as confusing and obscure. So anything that offers a way to educate yourself on the topic is a godsend.
Bittrex has an impressive library of educational resources available in its Discover section. Here, users will find articles and references for various crypto topics. There are references and lessons for topics ranging from crypto taxes to how crypto mining works.
They even have a breakdown of some of the cryptocurrencies available on the platform to give you an idea of what you are betting on and whether one is a good investment.
Although it doesn’t completely eliminate the risk of cryptocurrency, it can help users make better decisions. Kucoin vs Binance vs Kraken
- 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.
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
Bittrex trading is simple and straightforward. Users just need to log in, and then they can access their trading dashboard. Of course, it is accessible via a mobile app or desktop computer.
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 uses a simple maker/taker fee structure, making their fees more transparent than most exchanges. That said, you still get fee discounts for trades with higher volumes. Overall, these fees are pretty low but are not the lowest available in the market.
| 30-Day Volume (USD) | Maker | Taker |
| Less than $25,000 | 0.35% | 0.35% |
| $25,000 – $50,000 | 0.25% | 0.30% |
| $50,000 – $100,000 | 0.15% | 0.25% |
| $100,000 – $1 million | 0.10% | 0.20% |
| $1 million – $5 million | 0.06% | 0.16% |
| $5 million – $10 million | 0.05% | 0.15% |
| $10 million – $60 million | 0.02% | 0.10% |
| $60 million – $100 million | 0.00% | 0.08% |
| $100 million + | 0.00% | 0.05% |
Bittrex Issues
Bittrex has received negative reviews from users. Most of these issues stem from account lockouts, frozen assets, and problems with identity verification. These problems are widespread across all crypto exchanges.
The platform hasn’t experienced any major setbacks or controversies.
Bittrex Pros & Cons
Pros
- High security
- Extensive selection of available cryptocurrency
- Fairly 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 Kucoin vs Binance vs Kraken
eToro and Binance are two pretty famous cryptocurrency platforms. They are both very well-known and have a strong market presence.
But there is one thing that separates them. They are two very different platforms. Binance is a cryptocurrency exchange, eToro is not. It is, in fact, a cryptocurrency broker.
Binance sells a wide range of digital assets ranging from the usual cryptocurrency to NFTs and other 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. Rather, the Tel Aviv-based company was originally an online forex broker under the name RetailFX. This was in 2007.
When RetailFX started offering commodities, indices, and stocks, it changed its name to eToro. It later launched the innovative social trading feature, which allowed users to copy trades from successful traders on the platform.
eToro 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. On the world’s leading digital currency. It added support for Ripple and Ethereum four years later. Kucoin vs Binance vs Kraken
Also, in 2018, eToro went full steam on the crypto industry. More coins and currencies were added to the platform. The company even launched its digital asset platform, eToroX, and even its crypto wallet.
Cryptos under eToro
eToro’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. Nevertheless, the service does include some of the most popular currencies:
- Bitcoin (BTC)
- Bitcoin Cash (BCH).
- Cardano (ADA)
- Dash (DASH)
- Dogecoin (DOGE)
- Ethereum (ETH).
- Litecoin (LTC).
- Polkadot (DOT)
- Polygon (MATIC)
- Solana (SOL)
- Stellar Lumens (XLM)
eToro Perks
- CopyTrader
CopyTrader is eToro’s most distinctive feature. This feature existed long before the platform began to explore the crypto industry. Kucoin vs Binance vs Kraken
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. 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. Regarding stock investing, the platform offers zero-commission stock trading with the ability to buy fractional shares.
eToro provides a virtual brokerage account which allows you to simulate stock investing without putting any real money at risk.
- Deposits to Fee Debit cards
Unlike other cryptocurrency exchanges that charge fees, eToro doesn’t charge users to make a debit card payment. Investors can deposit fiat money using a bank transfer or debit card for no additional fees.
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.
A trading tab provides an intuitive view of the current prices, buys, sales, and converts crypto.
CopyTrading is the top perk that makes trading simple and straightforward. 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.
The platform is limited in its ability to offer cryptocurrency fairs due to a lack of options.
It’s also eToroX – the digital asset platform that is the most prominent.
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 other cryptocurrency exchanges that don’t list their fees, eToro lists its fees when trading crypto.
eToro users pay a flat fee of 1% for each crypto trade. This 1% market fee is added to the market price the platform calls a bid-ask spread. This fee is charged when users close or open positions.
However, most users do not like that on eToro, and you pay for the “round trip” upfront. This is unlike other exchanges that only charge a fee when a purchase or sale of a crypto asset is done.
eToro charges 1% upfront for the eventual sale and a $1 purchase fee.
This could be a problem when users transfer their coins to an external wallet. As they can no longer return them to the trading platform.
eToro Issues
Due to its age, it is not surprising that the platform has had its fair share of controversies. However, most of these do not involve the crypto market.
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 also found itself in an unfavorable feud against Redditors from /r/wallstreetbets following the GameStop short squeeze.
eToro Pros and Cons
Pros
- An established platform
- Regulated in numerous jurisdictions
- CopyTrading, a unique feature only available on the platform, is an exclusive feature.
- There’s more to it than just crypto trading.
- Transparency in the fee
Cons
- Only 44 states in the United States allow stock, ETF and cryptocurrency trading
- Margin trading is not available for U.S. users
- There are a few cryptocurrencies available.
- 1% fee is pretty high compared to others.