Binance vs Everything You Need to Know

Are you curious about the differences between Binance and the cryptocurrency market? Here's how to make the right decision for your cryptocurrency needs.

  • Features
  • Ease of use
  • Security
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In a recent poll, 40 percent of crypto traders cited security as the number one problem of working with crypto exchanges. Thirty-seven percent ranked high transaction fees as their top concern, and 36 percent reported lack of liquidity as a significant issue. 

Are these factors that bring you worry or anxiety, too?

Despite these concerns, crypto trading has become a legitimate way to make money in the blockchain. That said, how successful you'll be in the cryptocurrency market depends on various factors, including your capacity to identify and take advantage of cryptocurrency market trends. To do this, you must find the best exchange for your needs. 

The optimal platform for your trading activities should offer excellent security features, lower transaction fees, and ready access to your funds. After all, the quality of exchange services directly impacts how your trading activities translate into profits. 

How do Binance and compare as platforms within the cryptocurrency market? Here's everything you need to know. 

Binance vs. The Criteria

Are you a newcomer to the cryptocurrency market? Or maybe you're looking to diversify platforms by considering Binance vs. Either way, you likely have the same concerns as the traders mentioned in the survey above. 

That's why we've made the following criteria essential to our comparison of these two platforms:

  • Reputation of each exchange
  • Transaction fees
  • Accessibility of services and funds

Let's take a brief deep dive into why these factors matter to your crypto trading activities. 

The Reputation of Each Exchange

The reputation of the exchange you choose to work with is vital. Why? Because it's indicative of how secure your money will be in an exchange's wallet.

After all, using an exchange generally requires incorporating its wallet and trusting the security of its system. You need to feel comfortable that your money is both safe and secure.

How do you gain this level of security? Start with some online research to see how well the exchange does when it comes to delivering flexible, bank-grade features.

As you do this research, take a close look at the service provider's history with regulatory compliance. Finding a platform with a proven track record remains vital to growing your digital assets and making a living as a crypto trader.

Transaction Fees

Transaction fees represent another vital area of interest for crypto traders. After all, these fees directly determine how profitable your trading activities will prove. As you explore Binance and's platforms, pay attention to the long-term profitability of trading with them.

That means paying attention to how fees compound over time. Limiting the impact of these fees on your trading activities means finding exchanges that offer discounts, loyalty programs, and low transaction fees. 


USD Margin Lending

  • Return rates optimized daily
  • Secure, stable investment growth
  • No minimum
  • No lock-up period, withdraw anytime

Accessibility of Services and Funds

Last but not least, you want to ensure accessibility to the funds you trade. It requires finding a platform that offers instant access to your funds. You'll need to explore issues such as liquidity, the efficacy of a platform's hot wallet, and its capacity to match orders in real-time. 

Let's take a closer look at how Binance and stack up, keeping these factors in mind. vs. Binance: The Reputation of Each Exchange offers premium services to customers built on a foundation of compliance, privacy, and security. It's the first cryptocurrency in the world with OCI:DSS 3.2.1 Level 1 and CCSS Level 3 ISO27001:2013 compliance. 

The platform's trailblazing in the wallet and crypto debit card niches has also helped it reach the next level regarding security and regulatory requirements. Its wallet infrastructure and crypto payments provide top-grade security features to traders. 

The platform even includes a partnership with Visa. This partnership permits users to implement a secure and compliant payment gateway. 

How does Binance stack up to this impressive reputation? The platform has faced security issues over the years. For example, hackers attempted to acquire and withdraw funds illegally from the platform in 2018.

Fortunately, the platform's security system identified and stalled the hacker's efforts, saving its users' assets. But it didn't enjoy the same success in 2019 when hackers managed to make off with more than 7,000 Bitcoin, worth an estimated $40 million.

In response, Binance covered its users' losses. While all's well that ends well, this incident shed harsh light on the platform's most vulnerable security measures.

Since then, Binance has made strides in improving security and tracking down the hackers. For example, it now features two-factor-authentication keys.

Binance vs. Transaction Fees

Another vital area for those considering Binance and as platforms is their pricing policies. Binance offers one of the lowest fee structures in the crypto space. Trading gets set at 0.1 percent for users with less than 100 Bitcoin in trades every 30 days. 

The platform also offers a special discount of 25 percent of the trading fees applicable to users who hold a predetermined amount of Binance's native token, BNB. They can take advantage of an additional 25 percent discount when they settle trading fees with BNB, too.

How does fit into the mix? Traders don't have to pay charges when they transfer earnings into a wallet. 

There's a caveat to this, though. This option is not offered for on-chain transactions. Remember, too, that there are other withdrawal fees attached to payments transacted to other crypto wallets. The final amount you'll pay depends on the type of crypto getting withdrawn. 

As for depositing funds in your wallet? You'll never get charged for these transactions. 

The platform has also gone to great lengths to introduce ways for users to reduce the amount spent on fees with the coin cryptocurrency market. Like Binance, these fees are subject to 30-day timeframes, and you'll see steep discounts when you use its native Token, CRO. 

What do these discounts look like? Traders will see discounts of 20 percent on all staked CRO and 50 percent on all that's newly listed. Users who invest in CRO may enjoy rebates of up to 100 percent for transaction fees in some cases. 

Check out these crypto calculators to help you get the most for your money. vs. Binance: Accessibility of Services and Funds

Before choosing a crypto platform for your trades, you must also take a closer look at factors related to accessibility. You'll need to consider things like the availability of tools permitting traders to instantly access the crypto market. 

After all, the crypto market waits for no one. It's renowned for its high volatility, and if you're going to reap the benefits of its fast-changing nature, a platform must give you immediate access to your funds. provides its customers with a crypto debit card and wallet services. These options allow traders to access their funds worldwide in the blink of an eye. Users also gain access to an interoperable ecosystem through the app. 

This app provides market trading at actual cost, the exchange, and the MCO Visa card. Bear in mind that the MCO Visa allows for cashback on spending and ATM withdrawals, thereby improving the platform's crypto holdings. 

That said, remains relatively new to the game. It's still making headway when it comes to options regarding crypto pairs readily available through Binance. 

Binance is renowned for its high liquidity, providing a rich list of crypto pairs. In other words, you'll enjoy a wide array of trading options with Binance that aren't available with other exchanges. 

The platform has also gained momentum with traders. Why? Because its high-frequency exchange platform circumvents many of the negative impacts associated with the prevailing volatility of digital assets. 

As a result, the platform remains an excellent site, particularly for experienced traders. 

As we move forward into 2021, it'll be fascinating to see how Binance and continue to expand. For example, Binance recently made news with its acquisition of CoinMarketCap (CMC), at what some experts claim was a $400 million price tag.


Pros and cons of Binance


  • One of the most trusted brands in crypto
  • Best-in-class features with everything an advanced trader could want
  • Significant advantages when using the native Binance tokens BNB such as decreased trading fees
  • Very fast, easy to use interface
  • Binance offers extremely low transaction fees, particularly when using with their native BNB tokens
  • Assets are insured in case of security breaches. Except for breaches from personal security issues


  • Can be overwhelming for people who are new to crypto or trading
  • Much of its functionality is being disrupted by decentralised options like Uniswap
  • The platform doesn’t support most traditional payment methods
  • Currently, Binance US does not offer services in New York, Alaska, Alabama, Connecticut, Georgia, Florida, Hawaii, Louisiana, North Carolina, Idaho, Vermont, Washington, and Texas due to missing regulatory requirements
  • Binance does not give comprehensive daily market analysis

Pros and cons of


  • Is a complete crypto platform
  • Offers frequent promotions
  • Permits you to earn returns on your deposits
  • Includes a high-speed exchange with competitive fees
  • Offers a crypto-backed rewards card
  • High-speed exchange with competitive fees


  • Having to stake CRO or MCO to get the most out of your MCO rewards
  • A general lack of transparency regarding where funds come from
  • A confusing two token system (e.g., CRO and MCO)

Frequently asked questions about Binance

We’ve compiled some answers to questions we often get. Should you have any other questions, feel free to reach out below in the comments.

Which cryptocurrencies does Binance support?
What products does Binance offer?

Binance offers the following products:

  • Binance JEX
  • Binance P2P trading
  • Binance Crypto Loans
  • Binance OTC
  • Binance Savings
  • Binance Staking
  • Binance Chain and Binance Coin (BNB)
  • Binance USD (BUSD) and Binance GBP stablecoin
  • Binance Charity
  • Binance Labs
  • Trust Wallet
  • Binance Cloud
  • Binance Card
  • Binance Jersey
  • Binance US and other localized versions of Binance exchange
Is Binance insured?

Yes, Binance is insured against security breaches through the Secure Asset Fund for Users (SAFU). Binance began contributing 10% of all trading fees received to this fund in July 2018 in order to offer insurance in the event of security breaches.

Does Binance have a storage wallet?

Binance has a stand-alone wallet called the Binance Trust Wallet, that allows users to store cryptocurrency outside of Binance.

How effective is Binance’s customer support?

Binance support staff is receptive and willing to provide detailed advice to traders in need. Help tickets are submitted via the web site’s online form, and answers are sent back via email.

Does Binance have an app?

Yes, the Binance app is available on both iOS and Android.

How much Are Binance transaction fees?

Binance charges a transaction fee of 0.1% for all trades. It also offers a 50% discount on fees for trades made using Binance Coin.

What payment methods are accepted on Binance?

Binance supports the following payment methods:

Bank transfer

Credit or 

Debit card


What countries can make payments with a bank card on Binance?

Bank card payment is supported in the following companies:

  • Austria 
  • Belgium 
  • Bulgaria 
  • Croatia
  • Czech Republic 
  • Denmark
  • Estonia
  • Finland 
  • France 
  • Germany 
  • Greece
  • Hungary 
  • Iceland
  • Ireland 
  • Italy
  • Latvia
  • Liechtenstein 
  • Lithuania
  • Luxembourg
  • Malta
  • Netherlands 
  • Norway 
  • Poland
  • Portugal
  • Republic of Cyprus 
  • Romania 
  • Russia
  • Slovakia 
  • Slovenia 
  • Spain
  • Sweden 
  • UK
  • Ukraine Frequently Asked Questions (FAQs)

Now that you've got a much better concept of what you'll get with, let's take a look at some of the platform's most frequently asked questions (FAQs). These common customer inquiries will provide you with insights into everyday aspects of using the app, card, and more.

Which Cryptocurrencies Are Accepted by Crypto Pay?

At the moment, you only have one option when it comes to Crypto Pay. The platform currently only accepts Coin (CRO).

What Should You Know About DeFi Swap Fees?'s DeFi swap permits users to connect their personal Ethereum wallet for effortless and streamlined ERC-20 token swaps, unlike the app or exchange.

Generally, you'll get charged 0.3 percent fees to liquidity providers for token swapping fees. These fees support the run of smart contracts.

To get started, connect your Defi Swap with your Defi Wallet. When transferring crypto in the Ethereum network, you must pay gas fees.

Choose between average, fast, and super transaction confirmation speeds. Remember that average and super-fast speeds respectively represent low and very high transaction fees.

Which Wallets Are Compatible With Crypto Pay?

You've got incredible flexibility when it comes to You may use any wallet that both holds and sends Coin (CRO) with Crypto Pay.

Finding the Best Platform on the Cryptocurrency Market

As you can see, Binance and both offer robust platforms for crypto traders. While enjoys an overall better reputation, Binance has made great strides to protect consumers' funds. And nobody can beat Binance when it comes to instant liquidity. 

Regarding fees, both platforms come with options for circumnavigating some transaction charges. The number one way remains transacting in each platform's native token. That said, Binance still offers one of the lowest fee structures in the industry and is worth your attention. 

Are you interested in learning more about crypto trading, but you don't know where to start when it comes to the cryptocurrency market? Check out our highly comprehensive list of DeFi and CeFi industry reviews now. 

  • Features
  • Ease of use
  • Security
  • Support
  • Reputation
  • Fees
  • Overall
  • 5
  • 4
  • 3
  • 3
  • 4
  • 4
  • 3.83
Go to site
  • 4
  • 3
  • 4
  • 4
  • 3
  • 4
  • 3.67
Go to site