Binance, Bingx, and BTCC are notable players in the constantly changing world of cryptocurrency exchanges, each providing distinctive features and services to meet the various requirements of traders and investors. These exchanges, which make purchasing, selling, and trading different cryptocurrencies easier, have tremendously impacted the world of digital assets. In this comparison, we’ll look into Binance vs Bingx vs BTCC’s essential characteristics to help you better grasp their advantages and disadvantages. By doing so, you’ll be more equipped to make decisions in the volatile world of cryptocurrency trading.
What is Binance?
Binance is an organization that functions as the top cryptocurrency exchange for all its international users, much like every other trading platform. Binance is a trading exchange that operates in the cryptocurrency markets, even though it provides trading methods and services to its clients. It is headquartered in Hong Kong and is one of today’s biggest cryptocurrency exchanges. With its extremely effective services and cutting-edge trading features, Binance quickly became the most well-known cryptocurrency exchange in the world.
Also, read our Binance review.
What is BingX?
BingX — a social trading network, is a crypto exchange that offers cryptocurrency spot and derivatives trading services. The platform made its way into the cryptocurrency market in the year 2018. Moreover, as a crypto social trading network, BingX Exchange is committed to giving users access to cryptocurrency trading strategies and ensuring users invest in a simple, engaging, and transparent way. Furthermore, the platform also provides commodities, global indices, forex, automatic copy trading functions, and other contract trading products.
Also, read our BingX review.
What is BTCC?
The oldest cryptocurrency exchange in the world is BTCC, which has been operating since 2011. Since 2018, BTCC has focused on futures trading and services to more than 400,000 users worldwide. By fusing blockchain technology with fintech, BTCC is dedicated to offering people worldwide transparent, reliable, and fair investing services. 2018 saw the establishment of BTCC’s headquarters in the UK and the opening of new offices abroad.
The world’s first deliverable perpetual contract was introduced by BTCC in 2019 as part of its strategy to create an unmanipulated, open, and fair cryptocurrency market. By utilizing years of successful management experience and methods in conventional financial markets, BTCC aims to be at the forefront of innovation as the whole cryptocurrency industry advances.
- The Binance crypto exchange platform offers several trade orders like limit, stop limit, market, stop market, trailing stop, post only, and limit TP/ SL orders.
- Users can purchase cryptocurrencies through credit cards, debit cards, SEPA, or bank transfers.
- Binance exchange offers an innovative feature that supports borrowing crypto assets by using their crypto assets as collateral.
- It also showcases a leaderboard that lists the best traders according to their positions.
- Users can participate in a unique battle on Binance that allegedly shows who will gain more profit in future trades over a certain period.
- Furthermore, the platform allows users to earn passive income through Binance staking.
- Traders can earn extra interest on the Binance Earn platform by depositing cryptocurrencies. Furthermore, the interest rates vary with the coins used.
- BNB is the native currency of Binance. Moreover, it bagged third in the list of most valuable blockchain-based tokens at a rough estimate of $3.6 billion by market cap.
- Binance Futures is divided into two main categories: Usd-margined futures Contracts and Coin-Margined Futures Contracts.
- BingX traders can easily trade one cryptocurrency to another using only one click with the ‘Exchange’ option.
- Traders want accessibility to a more advanced trading platform, and keeping this in consideration, BingX fulfills this need. It provides its traders a modern yet well-designed and easy-to-use interface that can work on mobile and desktops. In addition to this, TradingView provides charts that include overlays, indicators, and multiple chatting tools.
- Every new account created is credited with virtual-based coins issued by BingX,i.e., 100,000 VSD tokens. These tokens can be traded on the platform without making any actual deposit. This demo trading helps traders get familiar with the platform and learn how to do leverage trading with the help of practice money.
- BingX offers its traders a copy trade option. With copy trade, you can follow the strategies of successful traders and copy them. For sharing their strategy, 8% of the profits are given to successful traders.
- In addition to cryptocurrencies, BingX also offers exposure to traditional markets. As a result, price movements of markets such as commodities, forex, and indices can be speculated.
- The services provided by BTCC include mining pools, futures trading, and spot trading.
- Popular cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), and Litecoin (LTC) are supported by the platform.
- Beginners and seasoned traders may easily discover and execute trades with BTCC’s user-friendly interface.
- The tiered fee structure that BTCC offers is based on trading volume and ensures that all traders will pay reasonable fees.
- For perpetual futures contracts, BTCC offers leverage options of up to 100x, while it offers up to 150x for daily futures contracts, serving a wide range of popular trading pairs like BTC/USDT, ETH/USDT, and ADA/USDT.
- With competitive trading costs starting at 0.03%, BTCC enforces a minimum transaction threshold dependent on the method used to deposit funds onto the site.
- Binance charges a 0.1% fee for trading on the platform.
- For Bitcoin and Ethereum trades, the fees are low. Binance also offers promotional rates for selected pairs on Spot and margin trading.
- Binance does not charge deposit fees. For each withdrawal, a flat fee is paid by users to cover the transaction costs of moving the cryptocurrency out of their account. Crypto deposits are free, but fees may apply when you withdraw crypto.
- You can get a 5% discount on Advanced Trading (Spot Trading) fees when you pay with BNB.
- BingX has spot trading fees of 0.1% for makers and takers.
- BingX perpetual futures fee is 0,02% for makers and 0.05% for takers.
- BingX Standard Futures Fee is 0.045% (Only collected when closing a position)
- While deposits are free, cryptocurrency withdrawals and trading are subject to fees.
- Depending on the provider chosen, fees for buying cryptocurrency may change.
- Each supported coin has a different minimum withdrawal amount and withdrawal fee.
- The user’s “VIP” status in BTCC, which is based on the total net value of their assets on the site, determines trading costs.
- There are seven VIP levels with rising fee savings ranging from 0.06% to 0.03%.
- When converting USDT to another cryptocurrency, there are 0.1% conversion fees levied; however, there are no fees for the opposite conversion.
Is Binance safe?
Yes, Binance is safe to use as it is a leading cryptocurrency exchange platform and puts the user’s security of accounts and funds above everything else.
- Users have to set up 2-factor authentication for double security. First, Binance sends a code to the registered email and phone number to ensure the login is authentic.
- Additionally, it uses CryptoCurrency Security Standard (CCSS) to protect the user’s accounts.
Also, you may be interested in reading about Binance alternatives.
Is BingX safe?
Yes, BingX is entirely safe to use. Further, there hasn’t been any case of a security breach in BingX since its inception. In addition, two-factor authentication can be used to secure users’ trading accounts, which will further help increase hackers’ difficulty accessing an account and carrying out malicious work. It is also recommended that you complete the settings of Google Authentication from the Account and Security/ Security center for your BingX account to improve the security level of your account.
Also, you may read BYDFi Vs Bitget Vs BingX: Copy Trading
Is BTCC safe?
Yes, BTCC is a safe platform as it prioritizes security and takes numerous precautions to safeguard customer cash. It uses hot and cold wallets, with most of the money in cold storage. Besides, BTCC also uses 2FA to increase user account security. Also, The platform uses cutting-edge encryption methods and routine security assessments to protect user data.
Also, you may be interested in reading Phemex Vs Bybit Vs BTCC: Which is the best option?
Binance Customer Support
Binance offers one of the most extensive and exhaustive FAQ bases for any exchange or cryptocurrency project. Although it could need some searching, this database contains the answers to most queries. Additionally, you can contact the support staff by clicking the link in the FAQ database. Additionally, Binance has an online chat feature directly accessible from the trading interface.
BingX Customer Support
BingX has excellent customer service; their 24*7 customer service representatives are always ready to help you. They willingly answer questions and resolve any issues you might encounter. Any trader facing any problem can contact their customer support at support@bingX.com. Furthermore, you can contact customer support directly via their live chat option for prompt assistance.
BTCC Customer Support
On their website, BTCC provides live chat and email customer service. While they might not be very active on social media, they have official profiles on Twitter, Telegram, LinkedIn, Instagram, Youtube, and Facebook that fans can follow for news or updates. The website further assists you by giving access to a section with several Blogs, News, and Support Centers.
The Binance mobile app is terrific and includes all the necessary trading features such as spot trading, margin trading, futures trading, deposits or withdrawals, premium charting experience, liquid swap, earn, staking, BNB vault, P2P transactions, multiple payment options, etc. It is also available on both Android and iOS devices.
BingX provides mobile apps for iOS and Android smartphones. Users can access various activities, including buying cryptocurrency, placing trades, signing up for copy trades, and withdrawing money — all from within the mobile app — by using the mobile app.
- The BTCC app provides a simple and intuitive interface, making it a good fit for beginners and experienced traders.
- BTCC offers spot trading, futures trading, and margin trading.
- The app also includes features like price alerts and real-time market data.
- BTCC prioritizes security and implements two-factor authentication and cold storage for funds.
- You can get the app from Google playstore and Apple App Store for Android and iOS users, respectively.
BingX offers a simple way to buy, sell, trade, and earn APY from cryptocurrencies. Regarding services and features, Binance, BingX, and BTCC are quite different, and the best option will depend on the user’s needs and preferences. Overall, Binance is a clear winner. The exchange wins in many key areas, such as trading fees, product offerings, and the overall usability of the exchange. Also, being the largest crypto exchange, it offers deep liquidity, which can be extremely beneficial in your day-to-day trading activities.
Frequently Asked Questions
Is BingX Safe & Legal To Use?
BingX is a secure and regulated cryptocurrency exchange. FinCEN is in charge of regulating it. The exchange has also implemented several mechanisms to safeguard its users’ information. Additionally, the majority of BingX’s money is kept in cold storage.
Is BingX Available in Australia?
AUSTRAC, an Australian regulatory organization, granted the BingX trading platform a license. Create an account, deposit or withdraw money, buy or sell cryptocurrencies using leverage, and many more options are available to Australian cryptocurrency traders.
How to Deposit Crypto on BingX?
Cryptocurrency deposits on BingX are rather simple. Select Deposit once your BingX account is open. After selecting it, press enter to send the Bitcoin coin you want to deposit to your wallet address. It should be noted that when making a BTC deposit, the BTC amount is immediately converted to USDT after being made.
Can I buy crypto on Binance P2P?
Buying cryptocurrency on Binance is straightforward and involves several different payment methods for funding the deposit. Peer-to-peer trading (P2P) on Binance enables fee-free cryptocurrency purchases using a variety of fiat currencies.
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