Want to know which among Binance and AltCoinTrader will be the best for your trading needs?
Or do you want to know about these exchanges and how to use them?
Don’t worry, you are in the right place; I will compare these exchanges to their core and tell you everything you need to know before getting your hands on any of these exchanges.
Let’s start with some basic information about these exchanges.
Binance vs AltCoinTrader: At A Glance Comparison
Starting with Binance, a China-based decentralized crypto exchange founded in 2017. It is the world’s largest spot & future trading crypto exchanges by trading volume, with more than 120 million registered users.
Binance trading exchange processes more than $38 billion worth of trades every single day.
This crypto exchange was founded in 2015 in South Africa, giving a one-stop solution for all the top crypto assets in the market.
This progressive crypto exchange has no restrictions for any countries around the globe. So it will be a great option if your country has rigid norms for crypto exchanges.
Now, let’s discuss what trading markets, products and leverage are offered on these exchanges.
Binance vs AltCoinTrader: Trading Markets, Products & Leverage Offered
Starting with Binance Futures, this advanced crypto exchange offers a wide range of trading products, which are:
- Spot Trading: Includes all your favourite ones like BTC, ETH, SOL, XRP and many more.
- Futures Trading: For Binance futures trading, you can choose from:
- Coin-M Futures: Perpetual or quarterly futures contracts settled in crypto coins.
- USD-M Futures: Perpetual or quarterly futures contracts settled in USDT or BUSD.
- Leverage Trading: Take advantage of the maximum leverage of up to 20x.
- P2P Trading: Trade TetherUS (USDT) with the lowest transaction fees of <0.10% for all markets and 700 payment methods.
- Binance Earn: Enjoy flexible DeFi staking with up to 6.38% and an additional 1.5% APR.
- Spot Trading: Long list of crypto assets, including BTC, XAU, ETH, XMR, BCH, and LTC, traded against xZAR or USDT.
- Crypto Earn: Earn rewards on crypto with easy savings, no lock-in periods, and no fees.
Verdict: Binance is a clear winner in this segment with a lot more crypto trading products.
Binance vs AltCoinTrader: Supported Cryptocurrencies
Now let’s discuss what crypto assets are available to trade on these exchanges.
This crypto exchange offers more than 350 crypto assets to trade with. The long list includes:
- Binance Coin
To know all of them, click here.
On the other hand, on AltCoinTrader, there is a comparatively shorter list of assets, counting to just more than 39 of them, but they include almost all the major assets, some of which are:
However, AltCoinTrader has a very limited fiat currency range restricted to just the South African Rand.
Verdict: Binance has a longer list of crypto assets, making it a clear winner in this segment.
Binance vs AltCoinTrader: Trading Fee & Deposit/Withdrawal Fee Compared
You must be thinking now, how much will be trading on these exchanges cost me?
Let’s go ahead and answer that now.
Starting with Binance Futures again, there are two types of fees associated with your trades which are:
The standard trading fee on this platform is 0.1%, however, if you hold BNB tokens, Binance will give you a flat 25% discount.
Deposit and Withdrawal Fees
When it comes to deposit fees, there is none to do so.
However, there is a dynamic withdrawal fees charged depending on the asset. For BTC withdrawals, Binance charges 0.0002 BTC.
AltCoinTrader- Trading Fees
Coming to AltCoinTrader, the overall trading fees on the platform are quite affordable the platform charges 0.10% for both taker and maker fees.
The trading fees are quite low in comparison with the industrial standard.
Deposit and Withdrawal Fees
Talking about the deposit and withdrawals, there are none for depositing; however, there is a 0.00057 BTC per BTC withdrawal which is exactly the industry average.
Verdict: Both the exchanges are pretty competitive when it comes to fees; however, with additional discounts and low withdrawal fees for BTC, Binance will be a better choice in this segment.
Binance vs AltCoinTrader: Order Types
Now let’s discuss what are the order types available on these exchanges, allowing you to take advantage of the market’s trends.
Being a massive player in the cryptoverse, Binance offers a wide range of order types, including advanced ones, which are:
- Limit Order
- Market Order
- Stop Limit Order
Advanced Order Types:
- Stop Market Order
- Trailing Stop Order
- Post Only Order
- Time Weighted Average Price (TWAP)
On the other hand, AltCoinTrader offers a basic but crucial list of order types, that includes:
- Market Order
- Limit Order
- Stop Limit Order
Verdict: Binance is a clear winner in this segment, with a lot more options for the order types.
Binance vs AltCoinTrader: KYC Requirements & KYC Limits
Now let’s discuss what are the KYC norms associated with trading on these exchanges and whether or not they are anonymous trading compatible.
Beginning with Binance, this crypto exchange, is quite rigid when it comes to KYC regulations and does not allow anonymous trading.
There are three verification and account levels which need additional documentation, which I have mentioned below.
- Basic: $300 Lifetime Buy Crypto & Fiat Deposits/Withdrawal Limit and Max. 0.06 BTC withdrawal limit.
- Intermediate: $50,000 Daily Buy Crypto & Fiat Deposits/Withdrawal Limit, Max. 100 BTC withdrawal limit and P2P/OTC/Binance Card Perks.
- Basic Information
- Government ID
- Facial Verification
- Advanced: $200,000 Daily Buy Crypto & Fiat Deposits/Withdrawal Limit, No BTC withdrawal limit, and P2P/OTC/Binance Card Perks.
- All intermediate requirements
- Proof of address
- 10 days review time
Similarly, AltCoinTrader doesn’t allow anonymous trading either. In order to get yourself verified, submit the following documents:
- Proof of identity
- Proof of residence
- A picture holding your ID
- Verified phone number
- Completed profile information
Binance vs AltCoinTrader: Deposits & Withdrawal Options
Now, let’s discuss what are the deposit and withdrawal options available on these exchanges.
Starting with Binance, there are all the crucial ways of withdrawal and deposits available, which include:
- P2P Trading
- Credit/Debit Cards
- Direct Crypto Transfers
Coming to AltCoinTrader, there is a limited range of withdrawal and deposit methods available, including:
- Wire Transfer
- Direct Crypto Transfers
There are no credit card transfers available on the exchange. However, you can use a debit card for deposits. The minimum deposit on this platform is $1.
Binance vs AltCoinTrader: Trading & Platform Experience Comparison
Another crucial criterion to take note of, before getting hands on these exchanges is the UI and UX offered by them. So, let’s dive into this segment now.
This exchange is equipped with a powerful trading engine capable of handling high-volume trades. It offers a highly advanced trading window armed with top-notch trading toolsets, which include:
- Easy-to-use order menu
- Multiple Order types with advanced orders
- Easy-to-use mobile app
- Order Book
- Recent Order
To know more about the exchange, you can check this guide on how to trade futures contracts on Binance?
On the other hand, AltCoinTrader comes with an easy-to-use trading interface. The exchange offers both basic and advanced tool sets, which makes it user-friendly for both beginners and intermediate traders.
Both the basic and advanced view includes an order book right on the screen, a price chart with precise market data as well as a buy-and-sell box. Moreover, it also includes indicators, drawing tools, historical trades, filters and a search bar for your ease.
The exchange also comes in iOS, and Android versions allowing you to trade anywhere on the go.
Now, let’s discuss what are the customer support services offered and how you can reach them if things go south or you need help with your queries.
Binance vs AltCoinTrader: Customer Support
Starting with Binance, this crypto exchange offers extensive customer support via three methods ranging from 24/7 live chat support to email and even reaching out to their social media handle on Twitter.
Additionally, the Binance website also offers a comprehensive knowledge base via an FAQ section to help you learn using the exchange to its core.
On the other hand, AltCoinTrader, the customer service on this platform, is quite good as well and can be reached through multiple email addresses. The exchange also has a customer support contact number to reach their team.
They can be reached depending on their working hours which are 9:00 to 16:30 on weekdays, which is a setback considering an exchange so big.
Binance vs AltCoinTrader: Security Features
Another important aspect of trading is security after all; it’s your money you are trusting these exchanges with.
Starting with Binance, this exchange is equipped with top-notch security systems that an exchange should have. Some of the most highlighting features include:
- Real-Time Monitoring
- Secure Cold Storage
- Multi-Factor Authentication
- Organisational Security
- Regular Audits
- Advanced-Data Encryption
AltCoinTrader is a trusted name in the cryptoverse, and that is probably the reason I am telling you about it. The site is protected with SSL and state-of-the-art encryption systems against DDoS attacks.
All cryptos are stored in secure cold storage, safely storing your assets offsite.
Moreover, the exchange offers multi-factor authentication and real-time monitoring, making the platform quite secure. There are no records of any cyber attacks on this platform.
Is Binance a Safe & Legal To Use?
When it comes to the safety and legality of Binance, there’s no doubt about this. Not only it is a safe crypto exchange with all the top-notch security features, but it also is a 100% legitimate exchange.
Is AltCoinTrader a Safe & Legal To Use?
Similarly, AltCoinTrader is also nowhere behind, and there is not a single doubt that it is a safe and legal trading platform. The exchange is not restricted to any country worldwide and comes with state-of-the-art security features as well.
So a one-word answer to this question is yes, AltCoinTrader is an entirely safe and legal platform.
AltCoinTrader vs Binance Conclusion: Why not use both?
Both AltCoinTrader and Binance are among the best crypto derivatives exchanges in the market, offering unique trading capabilities with best-in-class features.
But when it comes to choosing that one ultimate exchange among them, then the decision lies upon your trading needs.
If you want an easy-to-use, simple, yet subtle crypto exchange which offers exceptional spot trading capabilities, then AltCoinTrader is the best choice for you.
This exchange is not only easy to use but is an excellent option if you are a beginner to learn trading through hands-on experience.
On the other hand, if you are looking for an exchange to up your game and step into the advanced trading products of the cryptoverse, then Binance will be the best choice for you.
It not only offers the best charting system but also comes with a wide range of assets to trade with. So without any further delay, get going with the exchange that best fits your trading needs and start trading today!
Check out how Binance & AltCoinTrader compete with other crypto exchanges: