This means that we replicated the two most popular 'buy' scenarios for cryptocurrencies, as suggested by our clients. In this review, we used two different calculation methods to represent the exchange’s fee structure in a comprehensive number. Non-trading fees include charges not directly related to trading, like deposit and withdrawal fees, inactivity fees, conversion fees and bank transfer fees, among others. These are mostly commissions, but some exchanges may also charge spreads (the difference between the bid and ask price). Just as with brokers, what you need to keep an eye on are trading fees and non-trading fees.
We ranked Binance fee levels as low, average or high based on how they compare to those of all reviewed crypto service exchanges.įirst, let's go over some basic terms related to crypto service fees. Non-trading fees are also low, except for withdrawal fees. Binance overall Pros and consīinance has the lowest trading fees among exchanges reviewed by BrokerChooser. It has a larger client base but a shorter track record than peers reviewed by BrokerChooser. or the company that operates the exchange is listed on a stock exchange.īinance is one of the largest, if not the largest exchange by trading volume.it's been around for several years and has many employees), it has a robust traded volume per quarter,.the exchange has a sizable client base,.In most cases, cryptocurrency exchanges do not qualify for deposit insurance programs, so you have to be especially thorough when selecting your provider. Why is this important? It is not easy to determine how safe a cryptocurrency exchange is. Traded volume on exchange (quarterly, USD billion) Employees, client base and quarterly trade volume at Binance and its competitors Its quarterly trade volume is equivalent to $180 billion, putting it in the same league as Coinbase in fact, on some trading days Binance has shown larger turnover than Coinbase. The company itself has 2,800 employees and a 15 million client base. From the US, you can use Binance's partner site, Binance.US, which uses matching engine and wallet technologies licensed from Binance, but its product selection and the number of trading pairs offered is limited compared with Binance. It is not listed on any stock exchange, and its corporate structure is not transparent for example, it is difficult to find clear information on the location of Binance's headquarters.īinance is currently not available in the United States. The exchange was originally based in Hong Kong, and Binance's terms are still governed by Hong Kong law. Before reading the review, please take a moment to read our disclaimer.īinance is one of the largest cryptocurrency exchanges currently operating, based on trading volume.
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