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Published June 28, 2022

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If you’re new to the world of crypto, you may have some difficulty choosing an exchange that will best accommodate you. Lucky for you, picking a crypto exchange is a straightforward process.

In this article, we will compare two of the most popular cryptocurrency exchanges: FTX and Binance. Overall, binance trading fees start at 0.1%, while FTX trading fees start at 0.02%, which is 80% cheaper than binance! Keep reading for the full comparison of the two platforms!

Binance Overview

Binance is a cryptocurrency exchange that was founded in 2017. Binance is one of the most popular exchanges in the world, with a 24-hour trading volume of $49 billion as of May 11, 2022. For the latest and most up to date trading volume information, check out https://www.coingecko.com/en/exchanges

What are the Pros of Trading on Binance?

Binance offers a variety of features that make it an attractive option for crypto users. These include: 

  • A user-friendly interface
  • An intuitive mobile app
  • A wide selection of coins to trade
  • Margin and futures trading

What are the Cons of Trading on Binance?

Binance also has a few disadvantages, such as: 

  • High withdrawal fees
  • Limited customer service options
  • Lengthy account verification process

What Tokens are Available on Binance?

Binance offers a wide selection of coins to trade, including: 

  • Bitcoin (BTC) 
  • Ethereum (ETH) 
  • Ripple (XRP) 
  • Bitcoin Cash (BCH) 
  • Litecoin (LTC)

What are the Fees on Binance?

Binance has a tiered fee structure, which ranges from 0.05% to 0.25%. These fees are relatively low when compared to other exchanges. 

Binance also offers discounts to users who pay their fees with Binance Coin (BNB). These discounts start at 25% and decrease over time.

FTX Overview

FTX is a cryptocurrency exchange that was founded in 2019. FTX is one of the newest exchanges on the market, but it has quickly become popular among crypto users. This is due to the very low fees and abundance of coins the platform offers.

What are the Pros of Trading on FTX?

FTX offers a wide array of pros for its users, which include:

  • Super low trading fees
  • Over 320 cryptocurrencies available to trade
  • Wide variety of innovative products like leveraged tokens, tokenized stocks, and volatility products
  • Easy-to-use mobile app 
  • Offers a wide assortment of tokens
  • 1% of all net trading fees will be donated to the world’s most effective charities via the FTX Foundation

What are the Cons of Trading on FTX?

The drawbacks of trading on FTX are: 

  • Not as well known as Binance
  • Its US version has some noticeable user restrictions, including not allowing trading of FTT

What Tokens are Available on FTX?

FTX offers nearly the same number of tokens as Binance, including:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP) 
  • Bitcoin Cash (BCH) 
  • Litecoin (LTC)

What are the Fees on FTX?

Much like Binance, FTX has a tiered fee structure. However, FTX fees start at 0.02%. The platform also offers discounts for FTT holders. Ultimately, FTX offers lower fees at base value than Binance. There are also benefits and additional fees discounts to those who stake their FTT. 

FTX vs Binance: At a Glance

Choosing Between FTX or Binance

Overall, both Binance and FTX are incredible crypto exchanges. Though, when it comes to the FTX vs Binance debate, FTX offers lower fees and easier user registration. 

If you want to trade your crypto assets for less, create an account today to get started.

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