Confused between Binance and SwissBorg? Cannot decide which of the two will best suit your trading needs?

Don’t worry, I am here to help you.

I have come up with the most sensible comparison of the two exchanges that will help you choose the best leverage crypto exchange for you as well as understand these platforms to their core.

So let’s start with a glance comparison of the two with some background information about them.

Binance vs SwissBorg: At A Glance Comparison

Binance

Beginning with Binance Futures, a decentralized crypto exchange that was originally launched in China in 2017.

Binance is currently the world’s largest crypto exchange by trading volume and is available in more than 220 countries worldwide.

The company processes more than $38 billion in 24h trading volume and holds more than 120 million users on the exchange.

It is the world’s leading blockchain ecosystem with a product suite that includes the most prominent digital asset exchange.

SwissBorg

On the other hand, SwissBorg was also launched in 2017, with its headquarters in Lausanne, Switzerland.

There are more than 700K+ verified users. SwissBorg’s mission is to build a spectrum of investment experiences that help you redefine your investments.

The exchange also comes with a mobile application and offers more than 16 different fiat currencies readily on the platform.

Now let’s discuss what are the trading markets, products and leverage offered on Binance and SwissBorg.

Binance vs SwissBorg: Trading Markets, Products & Leverage Offered

Binance

Beginning with Binance, there is a wide range of crypto trading products, which are:

  • Spot Trading: Includes all your favourite ones like BTC, ETH, SOL, XRP and many more.
  • 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.
  • Binance Futures Trading: For futures trading, you can choose from:
    1. Coin-M Futures: Perpetual or quarterly futures contracts settled in crypto coins.
    2. USD-M Futures: Perpetual or quarterly futures contracts settled in USDT or BUSD.

SwissBorg

  • Spot Trading: Trade through various crypto assets and fiat currencies like EUR, CHF, GBP, CAD, CZK, DKK, HKD, HUF, ILS, NOK, PLN, RON, SGD, ZAR, SEK, AED.
  • Crypto Staking: Stake a wide range of assets, including CHSB, with a high yield.

Verdict: Clearly, Binance has a lot more crypto trading products with leverage trading making it the winner in this segment.

Binance vs SwissBorg: Supported Cryptocurrencies

Binance

This crypto exchange has a long list of crypto assets to trade with, counting more than 350 of them. The list includes all your favourite ones, like:

  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Binance Coin
  • Cardano
  • Cosmos
  • Dash

SwissBorg

On the other hand, SwissBorg has a limited list of crypto assets that counts to more than 50 of them, some of which are:

  • Bitcoin
  • Ethereum
  • Swissborg Token
  • Dogecoin
  • Tether
  • DAI

Verdict: Binance is the clear winner in this segment, with a lot more crypto assets on the exchange.

Binance vs SwissBorg: Trading Fee & Deposit/Withdrawal Fee Compared

Now let’s discuss what trading on these exchanges will cost you. I have mentioned the trading fee as well as the deposit and withdrawal fee that will be associated while you trade or fund your account.

Binance- Trading Fees

Starting with Binance, if you hold BNB tokens, your account will give you a flat 25% discount on the fees. However, the standard trading fee is 0.1%.

Deposit and Withdrawal Fees

There is no deposit on Binance, however, there is a dynamic withdrawal fees charged depending on the asset you choose to withdraw and the market’s status.

SwissBorg- Trading Fees

When it comes to SwissBorg, it promises zero spreads and no inflated exchange rates. However, there is a small service fee on each transaction depending on your account type:

Account type

Fee
Standard Account

1.0%

Community Premium

0.75%
Generation Premium

0.5%

Genesis Premium

0 – 0.25%

Deposit and Withdrawal Fees

Coming to account funding and withdrawal, the deposit in fiat and crypto are free.

However, while making withdrawals, there is a 0.1% fee charged on fiat currencies with an execution fee of 0.10% with a minimum fee per currency.

Binance vs SwissBorg: Order Types

Binance

There is a wide range of order types available on Binance to take advantage of the market, which is:

  • Limit Order
  • Market Order
  • Stop Limit Order

Advanced Order Types:

  • Stop Market Order
  • Trailing Stop Order
  • Post Only Order
  • Time Weighted Average Price (TWAP)

SwissBorg

On the other hand, SwissBorg has all the essential order types, which are:

  • Limit Order
  • Market Order
  • Stop Limit Order

Verdict: Binance is the clear winner in this segment with much more order types and includes advanced ones as well.

Binance vs SwissBorg: KYC Requirements & KYC Limits

Now let’s discuss what KYC requirements you have to go through in order to be eligible to trade on these platforms and whether they allow you to trade anonymously or not.

Binance

This crypto exchange is relatively rigid when it comes to KYC compliance. Binance doesn’t allow anonymous trading. These are the following documents you can use to get verified through different account levels.

  • Basic: $300 Lifetime Buy Crypto & Fiat Deposits/Withdrawal Limit and Max. 0.06 BTC withdrawal limit.

Requirements:

Personal information

  • Intermediate: $50,000 Daily Buy Crypto & Fiat Deposits/Withdrawal Limit, Max. 100 BTC withdrawal limit and P2P/OTC/Binance Card Perks.

Requirements:

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.

Requirements:

  • All intermediate requirements
  • Proof of address
  • 10 days review time

SwissBorg

Similarly, SwissBorg has 3 different KYC levels and doesn’t support anonymous trading. I have mentioned the KYC levels and their requirements below:

Level 1: Top up your account to EUR 5,000 and withdraw up to EUR 5,000.

  • Requirement: Here, you need to submit a valid Government issued.

Level 2: Top up your account up to EUR 50,000 and withdraw up to EUR 1,000,000.

Requirements:

  • Dated bank statements registered in your own name (this does not include virtual banks such as Revolut, Paypal, Moneylion, Moneygram or Nickel).
  • Utility bills (gas, water or electricity) linked to your address (phone bills are not accepted).
  • Credit card statements.
  • Letters from any recognised public authority or public servant, any government-issued correspondence.
  • Lease agreements, along with rent receipts.
  • Employer’s certificate for residency proof.

Level 3: Unlimited top-ups and withdrawals.

Requirements: The type of documents for this purpose can vary from your salary slip to a property sale agreement, an inheritance, or your latest tax return.

Binance vs SwissBorg: Deposits & Withdrawal Options

Now let’s discuss what are the deposit and withdrawal options available on these exchanges.

Binance

  • Credit/Debit Cards
  • P2P Trading
  • Direct Crypto Transfers

Swissborg

  • Bank transfer
  • Cryptocurrency
  • Credit or Debit Card
  • SEPA
  • SWIFT

Binance vs SwissBorg: Trading & Platform Experience Comparison

One of the most important segments for trading is the UI and UX offered by these exchanges.

Binance

Binance is equipped with a powerful trading engine which is capable of handling high volumes of trade. The exchange and trading window has all the advanced toolsets for a top-notch trading experience; these include:

  • Order Book
  • Recent Order
  • TradingView
  • Easy-to-use order menu
  • Multiple Order types with advanced orders
  • Easy-to-use mobile app

SwissBorg

On the other hand, SwissBorg is a beginner-friendly crypto exchange which is equipped with all the essential crypto trading features.

It is an app-only trading exchange which is quite powerful compared to the others in the market and makes trading on the go easy.

The charting system shows precise and real-time data readily on the trading window, which is quite simple and straightforward.

Binance vs SwissBorg: Customer Support

Binance

Binance is known for its service, which is probably why it has such a vast user base. It is one of the most trusted exchanges and offers multiple ways of reaching its customer service team.

It has live chat support available 24×7 and also can be reached through email anytime.

They are reachable via Twitter and offer an extensive FAQ section to help you learn using the exchange to its maximum capabilities.

New to trading crypto? Know What Is Crypto Liquidation?

SwissBorg

Similarly, SwissBorg also has a help centre that can answer almost all your queries readily on the platform.

You can even submit a help request on the exchange, you just need to provide your email in the box, and they will reach out to you shortly.

Other than that, the exchange also has a comprehensive FAQ section that pretty much answers all your questions.

Binance vs SwissBorg: Security Features

Understanding the security aspect of these exchanges is quite important because it’s your money you are trusting these exchanges with.

So let’s compare them in this segment.

Binance

Starting with Binance, this exchange is a brand when it comes to security features. It offers all the top-notch and highly advanced security systems, which include:

  • Real-Time Monitoring
  • Secure Cold Storage
  • Multi-Factor Authentication
  • Organisational Security
  • Regular Audits
  • Advanced-Data Encryption

SwissBorg

Coming to SwissBorg, this crypto exchange is nowhere behind when it comes to the security of your funds.

It integrates all the industry’s best security features which include a segregated custody approach that keeps your funds separate from the company.

The exchange uses cold storage for your cryptos, together with address whitelisting and multi-factor authentication, which adds an additional layer to the safety of your funds.

Is Binance a Safe & Legal To Use?

The precise answer to this is, yes, Binance is a safe a legitimate crypto trading platform. An exchange with such a huge fan base and trading volume is in itself proof of its legitimacy.

Binance has zero tolerance when it comes to the platform’s security. The cold storage integration and FDIC insurance make sure that your crypto is in security as of a vault.

Is SwissBorg a Safe & Legal To Use?

Similarly, SwissBorg is a safe crypto exchange as it comes with tonnes of the industry’s best security features with integration with cold wallets.

The exchange is also a member of SO-FIT, which is a self-regulated body in Switzerland officially recognized by the Swiss Financial Market Supervisory Authority.

SwissBorg vs Binance Conclusion: Why not use both?

Both exchanges are quite great options in the crypto market and have been highly reputed by their user base. But when it comes to choosing the best exchange for futures trading among them, the decision lies in your trading needs.

SwissBorg is a quite standard crypto exchange and is best for spot trading capabilities.

If you are a beginner in the crypto field, you should definitely go for SwissBorg, where you can experiment and learn through its easy-to-use toolsets.

On the other hand, Binance will be the best for advanced traders who are looking for a wide range of crypto products and trading capabilities.

It comes with one of the lowest fees and top-notch security features, offering you a safe and advanced trading ecosystem, so go ahead and open a Binance Futures account.

So what are you waiting for? Choose your crypto exchange and start trading now!

See how Binance & SwissBorg compares to other crypto exchanges:

Nayan Roy
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