Cryptocurrency exchanges are a necessary evil in today’s digital world. They allow you to trade between different cryptocurrencies and fiat currencies (i.e., US dollar) while providing security features that keep your funds safe from hackers or administrators who might try accessing them without permission – which is why it pays off so much when looking at reviews before committing oneself! In this article, we’ll go through two popular ones: Bittrex vs. Binance.
Bittrex vs Binance: Foundation Date
Bittrex is a US-based exchange founded in 2013 that offers trading between over 190+ different cryptocurrencies, while Binance is a China-based exchange founded in 2017, with support for over 140 cryptocurrencies.
Bittrex vs. Binance: Fees
Bittrex’s fees are 0.25% for both maker and taker, while Binance charges a 0.1% fee for maker and 0.3% for a taker. However, Binance has a volume-based discount structure, where fees are automatically reduced as your trading volume increases. For example, if your 30-day trading volume is over 50 BTC, you will only pay 0.075% for taker trades and 0.025% for maker trades.
Bittrex vs Binance: Supported Cryptocurrencies
Both exchanges offer to trade between a large number of different cryptocurrencies, though Bittrex offers more pairs than Binance. Bittrex currently supports over 190+ cryptocurrencies, while Binance only supports around 140.
Bittrex vs Binance: Supported Countries
Another difference between the two exchanges is that Bittrex only supports trading for users in the United States, while Binance is available to users in many different countries around the world.
Bittrex vs Binance: Security
Both exchanges offer 2-factor authentication (2FA) feature, which adds an extra layer of security to your account. Bittrex also offers a host of other security features, such as email notifications for withdrawals and login attempts, IP address whitelisting, and withdrawal address whitelisting.
Bittrex vs Binance: Conclusion
So, which exchange is better? It depends on what you’re looking for. Binance has a much higher trading volume than Bittrex (although this changes all the time), and offers a bit more flexibility when it comes to trading pairs – although Bittrex is catching up quickly in this regard.
Bittrex also has a bit more stringent security measures, which is always a good thing when it comes to exchanges (although Binance is no slouch in this department either).
In the end, it really comes down to personal preference – both exchanges are very good and offer a great experience. So why not try out both and see which one you like better?
I think my life changed the day I learned about this amazing guy whom I share the name with – Aaron Savage. He was among the first people ever to advocate for freedom of information and the internet, and I feel he would support a great deal of decentralized finance idea if he was alive today. So, I am just another IT guy, super curious about crypto and writing my opinions and analyses here from time to time. Enjoy!