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CN Are you looking for the top cryptocurrency exchanges to trade on? Don’t worry, we’ve tested it on over 100 exchanges. In this comparison between two top exchanges, Binance and BingX, we will provide you with all the necessary information! We'll discuss features, costs, security, usability, customer support, and more. Through detailed comparisons, we'll help you determine which exchange better suits your needs.
Read this article now and find the best cryptocurrency exchange for you! letCryptoPieLay the foundation for success in your investment journey!
Distinctive features:
- In terms of spot trading: BingX provides a larger number of currencies, and the handling fees for mainstream currencies are lower than Binance. Therefore, I recommend buying mainstream currencies on BingX. For altcoins, it is recommended to buy them on Binance if Binance supports trading.
- In terms of contract trading: Binance currently has a market share of more than 50% among virtual currency exchanges, while BingX’s contract trading volume is relatively low. If you like contract trading and are looking for a trading experience with high liquidity and low slippage, then choosing Binance is a better choice.
- It’s worth noting that Binance enforces KYC (Know Your Customer) verification, while BingX does not. If you are very privacy-conscious and don’t like to go through KYC verification, then you can choose BingX as your exchange.
| BingX | Binance |
| 600 altcoins and no KYC required | everything is great |
| +600 cryptocurrencies | +350 cryptocurrencies |
| Spot, Futures, Copy and Grid | 0.1.% spot fee and 125x leverage |
| No KYC required | Spot, futures, perpetual contract, margin |
| Spot fee (0.1-0.2%) | Cheap deposits/withdrawals |
目录表
Quickly learn about features
Binance is a full-featured cryptocurrency exchange known for its wide range of features. It offers spot trading, futures trading, leveraged trading, and even staking options for various cryptocurrencies. Binance offers a user-friendly interface, advanced charting tools, and mobile apps for easy trading. Additionally, Binance has its own native cryptocurrency, BNB, which can be used to enjoy discounts on trading fees and participate in token sales on the platform.
BingX, on the other hand, is a relatively new cryptocurrency exchange that aims to provide a unique trading experience. It offers spot trading, leveraged trading, and futures trading, but supports a limited number of cryptocurrencies. BingX focuses on providing a seamless and intuitive trading interface to enhance user experience. While it may not have as many features as Binance, it strives to provide users with a streamlined trading experience.
What are the differences between spot and futures trading using BingX and Binance?
BingX, one of the top ten exchanges on coinmarketcap, has a daily trading volume of over $800 million.
On BingX’s spot market, traders can access over 520 different cryptocurrencies settled in USDT. For market makers and takers, BingX charges a fair spot transaction fee of 0.1%.
BingX's futures market interface is carefully designed with a simple and smooth interface to ensure a good trading experience. With over 240 trading pairs, maker fees are 0.02%, taker fees are 0.05%, and leverage up to 150x is supported. For cryptocurrency day traders, BingX will be a pleasant choice. The only drawback is that BingX lacks advanced order types such as iceberg orders or TWAP orders. However, BingX is great for new traders as it is easy to use and navigate.
What sets BingX apart is the range of assets it offers beyond cryptocurrencies, including indices, commodities, stocks and FX trading pairs. This makes BingX an excellent choice for traders interested in more than just traditional futures markets. The trading fee for standard futures (i.e. all non-cryptocurrencies) is 0.045%.
Binance has over $2 billion in daily trading volume and ranks first on coinmarketcap.
On Binance’s spot market, you can trade 1,700 different cryptocurrencies across nearly 380 trading pairs. Binance Spot is not only settled in USDT, but also supports settlement in BUSD, TUSD, and fiat currencies such as Euro, British Pound, and US Dollar. The spot transaction fee is 0.1%, which is in line with industry standards.
Binance’s futures market supports 259 cryptocurrencies, mainly settled in USDT and BUSD. Unfortunately, Binance does not offer trading in stocks, forex, or commodities. However, Binance focuses on cryptocurrency trading and therefore offers some of the lowest futures fees, at 0.02% for makers and 0.04% for takers. The Binance platform is less user-friendly and there may be a bit of a learning curve for beginners. However, once you master how to use Binance, you will be able to have a good cryptocurrency trading experience.
If you are only interested in cryptocurrency trading, Binance is definitely your best choice as it has lower fees, higher liquidity, and offers a wider range of crypto assets.
However, if you are interested in assets other than cryptocurrencies, such as stocks, commodities, forex or even indices, BingX is perfect for you!
BingX unique copy trading system
BingX offers fully integrated copy trading functionality, making it extremely easy to follow professional traders. With just a few clicks, you can analyze the past performance of other traders and make an informed decision about whether to follow them. Once you find a good trader to copy, this can be a great way to earn passive income.
Unfortunately, Binance does not have integrated copy trading functionality. However, Binance partners with TraderWagon, a third-party application that offers copy trading. The process is relatively complex, and most people don't even know it.
If you are interested in copy trading, we highly recommend you consider using BingX!
BingX vs Binance fee comparison
On BingX’s spot market, the transaction fee is 0.1%, with no fee discount based on monthly transaction volume.
Binance’s spot market charges a market maker fee of 0.1%. However, if you hold BNB tokens and activate the "BNB Deduction" feature, you can enjoy a fee discount of 25%, reducing the fee to 0.075%. In addition, depending on your 30-day trading volume, you can further reduce the fee, with the maker fee as low as 0.015% and the taker fee as low as 0.03%.
For cryptocurrency futures trading, BingX charges a placing order fee of 0.02% and a taker fee of 0.05%. Depending on your 30-day trading volume, you can reduce futures fees to a minimum of 0.0015% for makers and a minimum of 0.035% for takers. For traditional futures (such as stocks, indices, commodities or FX), Binance’s market maker and taker fees are fixed at 0.045%.
In Binance’s derivatives market, the maker fee is 0.02% and the taker fee is 0.04%. By activating BNB fee deduction, you can reduce futures trading fees by 10%, with the maker fee as low as 0.018% and the taker fee as low as 0.036%. Depending on your 30-day trading volume, you can reduce futures fees as low as -0.01% for maker fees and 0.0207% for takers, meaning you can get paid for placing limit orders.
Overall, Binance has low trading fees on spot and futures markets, and fees can be reduced further based on your BNB holdings and 30-day trading volume.
Therefore, Binance is clearly the more competitive option when it comes to trading fees.
Supported currencies
Binance supports a wide range of cryptocurrencies, including major cryptocurrencies such as Bitcoin, Ethereum, Ripple, and more. It also provides a platform for trading numerous small coins and new token listings. Binance regularly adds new cryptocurrencies to its platform, ensuring users have access to diverse trading options.
BingX currently supports a limited number of cryptocurrencies for trading. While the supported options may not be as extensive as Binance, it focuses on providing users with trading options for popular cryptocurrencies.
Services and advantages
In addition to trading features, both platforms also offer several cryptocurrency-related features. When comparing their features, you’ll quickly discover that Binance is one of the most comprehensive crypto platforms.
Not only is Binance an excellent trading platform, it also offers a variety of financial features that can help you earn passive income, such as Binance Earning, Staking, Mining, Yield Farming, Automated Range Trading, Loans, and more.
Additionally, Binance offers a personal crypto debit card that allows you to purchase items using cryptocurrencies. Not only can this card be virtual, you can also get a physical card and pay at local stores. For NFT enthusiasts, Binance also offers an NFT marketplace where you can buy and sell non-fungible tokens.
Finally, Binance offers comprehensive mobile apps for iOS and Android that contain all the important tools so you can enjoy trading from the start.
Unfortunately, BingX offers few of these features. You can conduct copy trading, grid trading, and receive a welcome bonus of up to 5125 USDT, but there are no other money-making and financial management products. However, BingX has developed smooth mobile apps on iOS and Android that are well designed and responsive, ensuring an excellent trading experience.
Binance easily leads the way when it comes to cryptocurrency services and features, and no other cryptocurrency exchange offers the same breadth of services.
safety
BingX and Binance excel when it comes to security and customer protection. Both platforms offer full proof of reserves, meaning customer assets are backed 1:1 on the platform, in most cases even more than 100%.
Additionally, both exchanges use multi-signature cold wallets to hold the majority of their funds, meaning the funds are not connected to the internet and require multiple signatures to be unlocked.
BingX has not been hacked before and can attest to its clean security record.
Although Binance suffered a hacker attack, all customer funds have been fully refunded. Binance has not experienced any issues since 2019. We still consider Binance to be one of the safest cryptocurrency exchanges.
Binance’s most notable addition is its security fund called SAFU, which is currently worth over $100 million. This fund is used to protect the safety of customers' assets in black swan events. Fortunately, Binance never had to dip into its security fund.
BingX and Binance Customer Support
Both exchanges offer 24/7 customer support and communicate via live chat. However, there is one exchange that stands out even more in this regard.
BingX stands out for its fastest response times and the customer support team is able to resolve all queries quickly. The support staff is knowledgeable and helpful, and the average response time is only 30 seconds!
Binance also offers 24/7 live chat support with a response time of 2-5 minutes. Despite the long response time, the support staff worked hard to resolve all issues to our satisfaction.
If you want the fastest support experience, BingX is for you. If you can wait a little longer, Binance will be able to provide support as well.
Summarize
First of all, both Binance and BingX are popular cryptocurrency exchanges for cryptocurrency enthusiasts from all over the world. However, there are some key differences between them that may have a significant impact on your choice.
BingX is the best choice if you want to maintain anonymity in your transactions. Additionally, BingX excels in its copy trading functionality. Finally, BingX is ideal for traders interested in traditional financial (TradFi) assets such as commodities, indices, forex, and stocks.
If you are looking for the most comprehensive cryptocurrency experience, Binance is a great choice. It has the lowest transaction fees, advanced features, and comprehensive cryptocurrency services, attracting cryptocurrency enthusiasts from many countries.
A key advantage is Binance’s support for fiat currencies. Not only can you deposit, withdraw and withdraw cryptocurrencies, you can also trade in 40 fiat currencies, including EUR, GBP, USD, Dirham, AUD and more. Therefore, you can easily send your trading profits to your bank account.
Even though Binance’s interface isn’t quite like BingX’s, we still think it’s worth digging into and understanding how to use it.
