Out of over 400 crypto exchanges in the industry, Binance is the leading crypto exchange by trading volume. Before using this exchange, it’s important to do a thorough Binance review and check if it is truly more reliable and secure than other exchanges.
Binance operates the largest Bitcoin and altcoin trading platforms worldwide. The crypto exchange gained prominence from crypto traders as it offers the most competitive trading fee rates across the globe.
Aside from its cost-effective Binance fees, Binance allows trading to over 1,000 cryptocurrencies. The exchange ensures fast trading times and transaction processing and provides a range of services and products such as staking, crypto payment card, and crypto loans.
Most importantly, Binance offers Secure Asset Fund for Users (SAFU) to users in case of any hacking or security breach within the exchange. Overall, Binance seems to be a good exchange. Though no exchange is 100% safe, Binance strives to provide a secure and exceptional trading experience for its platform users.
As part of this Binance review, we will compare Binance fees to the fees of other exchanges. The exchange only withdraws a 0.1% cut fee from both spot trading and margin tradings conducted on its platform. Apart from that, Binance offers its users a 25% discount when trading with Binance Coin (BNB) and another 25% for friend referrals.
Binance vs Coinbase Pro
Coinbase Pro is the second-largest crypto exchange by trading volume. The platform charges a 0.25% trading fee, which is 2.5 times what Binance charges.
Binance vs Kraken
Kraken is the third-largest crypto exchange by trading volume. It works on a maker-taker fee schedule. Makers are charged a maximum fee of 0.16% and takers have a maximum fee of 0.26%.
In both cases, Binance fees are considerably lower than the rest. This makes Binance a more convenient and reasonable crypto trading platform.
Guest Author: Harrold Kenner
Guest Contributed Content