He had worked with Blockchain.info and OKCoin before starting off with Binance. By the end, you will have a clear understanding of the differences between the two exchanges and which types of investors each exchange is better for. In this guide, I will highlight all the key differences between the two exchanges and help you decide which is best for you — Binance or Bittrex.

But, unlike Bittrex, Binance has fully functional mobile app for Android and Windows. Also, keep in mind that Bittrex was launched in 2014, while Binance was launched only in 2017 after an ICO. At the time of writing, according to the web site CoinMarketCap, there are 267 trading pairs supported by Binance. Currently Binance is standing on the 1th place based on daily trading volume of more than $2 billion.

You do not need to go through rigid account verification process to withdraw coins from Binance as 2 BTC per 24 hours is more than enough for majority of individual users. After comparing some of the crucial factors on the two popular exchanges, we can easily conclude that Binance is more modern and more accessible platform of the two. In the advance version, you can also see currency pairs, open orders, trade history, but the advanced version offers more-in-depth technical analysis of crypto assets value over time. It is easy to conclude that Binance has significantly lower fees on trading, additionally if you are using Binance token to pay for your fee you will get 50 percent discount, meaning your fee will be 0.05%. Please be aware that some coins require to move your funds to another address before Bittrex can credit them. This means the coins network will charge you the normal transaction fee for this send.

Fees

You see, some of the best investors in the world take this into account very seriously – if the fees are high, this results in some loss of potential profit, and can be detrimental to your overall earnings. Naturally, fees do depend on many different factors – we’ll get to that, in due time. Cryptocurrency trading is an activity that more and more people around the world are participating in. With that, however, there’s also an increasing number of people who are looking for the best cryptocurrency exchange platform for themselves. In this Bittrex VS Binance comparison, we’ll be discussing two of the industry giants.

The customer service is excellent at Binance, with live chat online support, a large FAQ, and also a ticketing system for advanced issues. Overall, Binance is one of the most secure and trusted cryptocurrency exchanges. Both Bittrex and Binance require their users to provide ID verification to make full use of the exchange’s features, such as higher daily withdrawal Trading Platform and trading limits. Of the three exchanges you listed, Bitfinex is the only one that allows you to deposit, withdrawal, and trade using fiat currency . However, they do not accept users from the United States (if that’s where you’re located) and they require new users to deposit $10,000+ before being able to trade (greater than your $1000 amount).

We went through comparisons based on the supported currencies, trading fees, the level of security and the extent of their customer support, as well as whether they’re mobile- and user-friendly or not. With that said, both exchanges can be used as compliments to each other. Coinbase offers an easy way to turn your fiat into crypto, and Bittrex offers you a wide range of alternative coins to trade amongst. Both Binance and Bittrex are trusted by many and enjoy a considerable amount of cryptocurrency trade volumes.

The Binance Yes

After going through both features of both Bittrex and Binance, Binace actually offers other platforms and services of which we would provide a short overview below. Binance has a dedicated page for customer support which provides an extensive FAQ section to answer any questions its users may have. Binance also features a beginner guide on how to get started with investing on Binance’s platform. They also do have a 24/7 online chat available which you will only need to enter your email and question before being connected to a representative. An alternative would be to submit a request through email and wait for Binance’s representative to reply. Bittrex has over half a million active users, which although is an impressive visitor count, is actually slightly lower than other major crypto platforms on the market.

If that’s not the case, you’re probably better off with a different exchange, altogether. We hope this guide gives you a better understanding of how these two exchanges function, and an insight into the features and services they provide.

Trades on Bittrex are charged at a flat rate of 0.25%, regardless of the asset or trading pair, which does make trading on Bittrex a more expensive option than Binance. All USD deposits and withdrawals on Bittrex are free, however, a user’s individual bank may charge a wire transfer fee. Trading in Binance basic modeUsers may also choose to use TradingView charts when trading on Binance, instead of its original native charts. Binance provides limit orders and market sells, and also ‘stop-limits’, which prevent major losses if used correctly, a feature Bittrex doesn’t explicitly offer its users yet. There is a range of charting options available on Binance, however, users will have to select the ‘advanced’ trading tab to access them. On the basic trading interface, shown below, users have access to a simple candle based chart, with time intervals from 1 minute to 1 month.

Binance Vs Bittrex Review: Which Exchange Is Better In 2020?

My goal today is to provide a quick comparative analysis of both exchanges and in the end, you will find out which one is best for you. There are a lot of Exchanges today; however, Binance and Bittrex currently stand out as leaders in the cryptocurrency exchange business. Binance offers this method exclusively, as the company has remained staunchly anti-fiat due to the regulatory constraints that would entail.

• Binance is one of the most popular and widely used cryptocurrency exchanges in the world.
• Binance vs. Bittrex Review 2019So, what happens when two well respected and established exchanges go head to head?
• The CEO, Zhao Changpeng, is transparent and vocal on Twitter with any issues that the exchange is facing.
• As mentioned earlier in this article, trading fees should be one of the more important aspects when you’re comparing cryptocurrency platforms and are not left out on this Binance vs Bittrex comparison.
• To fund your account, both companies offer the now-standard crypto-to-crypto option.
• We recommend this type of security as well, as it helps to protect your digital assets.

Bittrex has a reputation as one of the most secure exchanges on the market, and its track record is proof of its success. The company has not suffered any hacks, and it encourages users to both verify their accounts and take advantage of two-factor authentication for better security. The company has also stated that it keeps nearly 90% of the exchange’s funds in cold storage, so a hack would still not result in catastrophic damages. Bittrex, on top of its crypto-to-crypto funding option, also offers the ability to deposit funds in fiat currency .

Bittrex Vs Binance Comparison

They also recently reduced their fees by 20%, as they had been set at 0.25% for several years, which shows a great deal of loyalty to their crypto community. The company is legally compliant, and regulated in the US, which is part of the reason why it chooses to implement such stringent KYC requirements. Besides its extreme volume, Binance is also recognized for the sheer number of high-quality cryptocurrencies it supports, with almost every major digital asset supported. Beyond this, Binance stands apart from other similar platforms thanks to its user-friendly registration process, which doesn’t automatically enforce KYC verification on new traders.

If you’re a newbie to crypto trading, Kraken is the place to start. Since you likely don’t have any altcoins, this platform enables you to use the fiat currencies you own to purchase digital assets. The choice of coins is not the biggest one, but you have the essential trading pairs available. The first thing you need to do when eyeing a crypto exchange is to check whether it’s a crypto-to-crypto exchange exclusively or it supports fiat-to-crypto trades as well. If you’re an experienced trader then you probably already have a wallet full of altcoins.

Users who wish to possess BNB can acquire it by exchanging on a cryptocurrency exchange. Trust Wallet, a mobile wallet for Ethereum-based tokens, was acquired by Binance and acts as its official wallet. CZ joined OKCoin, the largest Bitcoin exchange in China at that time, as the Chief Technical Officer in 2014. Unfortunately, the working crypto wallet relationship ended in less than a year with the company owing CZ around $10,000. The split was very inamicable and according to CZ, there was a lot of problem with OKCoin, chief among them being a dispute between the company and Roger Ver. Binance offers margin trading that definitely boosts an investor’s profitability potential.

Once that’s done, you’ll get an email from the site asking you to confirm your address. Check out Bitsgap, leading crypto arbitrage bot to learn the best way of doing it. Binance’s user interface may look more complex for beginners, but after the adjustment time it will provide users with more information and tools needed for quick and well informed actions. Bittrex has a fairly solid UI but the general overview lacks improvement. If you are looking to trade on the go, Binance is your definitive choice. Bittrex does not currently charge a fee for listing a token on our Exchange. They believe in promoting the blockchain industry, and they have spent, and will continue to invest, significant resources to review tokens for listing on our Exchange.

However, Binance is the only one of these exchanges to also offer both a mobile app and PC client. Considering how quickly Binance has been adding cryptocurrencies, we think there’s a strong possibility they catch up with Bittrex in 2018. Binance and Bittrex aren’t perfect, but we haven’t seen anything close to as extreme as Poloniex. At worst, we’ve seen users complain of support tickets taking 1-2 weeks to handle. Considering multi-month-long response times are a possibility with Poloniex, we highly recommend avoiding them. These days, Poloniex is in a somewhat distant 3rd place of these three exchanges.

Binance was established in 2017 by prominent crypto personality Changpeng Zhao, who is known in the cryptosphere as ‘CZ’. Zhao has previous experience of building high-frequency trading platforms, and has built Binance into one of the most popular crypto exchanges of all time. Bittrex, on the other hand, is facing a bit of a revolt in the community right now. Reports of users’ accounts being shuttered in droves with little explanation or help seemingly abound right now. Bittrex will need to get its act together in the coming weeks and months if it’s to remain as one of the powerhouse cryptocurrency exchanges.

To ask for help on the Binance platform, all you’ll need to do is fill out an online form, and you’ll be provided with a support ticket. There isn’t a live chat team here though, Bittrex vs Binance Exchange Comparison and as of writing, there isn’t a phone number to call either. One area that we would like to see a little more work done on is in the trading experience, as it is a bit complex.

When that’s done, you’ll have the ability to deposit your own digital assets. It’s at this time that Binance will strongly encourage you to ethereum enable two-factor authentication, which is something we also suggest. Customer support is certainly an area in which Bittrex could improve.

Richi Lai and Bill Shihara started the company in Las Vegas, and its corporate offices are still in Sin City. Bittrex has the edge over Binance in its track record, and you think that would be important.