Heard about EXMO and Binance??
These two are the top contenders in the crypto exchange arena.
But which is best suited for you in 2023?
To make your job easy, I have compared EXMO and Binance in this comprehensive breakdown.
I have compared their fees, product offerings, security features etc., thereby helping you overcome the confusion.
EXMO vs Binance: At A Glance Comparison
In this section, we will put EXMO and Binance Futures side by side to see how they fare in some key areas.
Remember, there’s no one-size-fits-all answer, so this comparison should help you better identify which platform suits your needs.
|24/7 Live Chat
|24/7 Email & Chat
|iOS & Android
|iOS & Android
|Deposit & Withdrawal Options
Hold on a minute!
EXMO still holds strong, particularly in user-friendliness and 24/7 live chat support. It’s clear that while Binance provides more variety, EXMO strongly emphasizes user experience.
From the above comparison, it seems Binance takes the edge with a broader range of cryptocurrencies and trading pairs.
Therefore, your final choice may depend on what you value more in a crypto exchange platform.
EXMO vs Binance: Trading Markets, Products & Leverage Offered
EXMO also offers a variety of trading options, including spot and margin trading.
The leverage offered by EXMO is up to 10x, which might seem less compared to Binance but can be more than sufficient for conservative traders.
EXMO also has unique features, such as cashback on trades and a simplified trading view, making it beginner-friendly.
Binance provides access to various markets, including spot trading, Futures, margin trading, and decentralized finance (DeFi) markets.
Additionally, it offers up to 125x leverage on Futures trading.
Here’s the clincher, Binance also has a variety of products such as Binance Earn, Binance Pool, Binance Visa Card, and much more that provide users with diverse ways to earn and invest.
As a bottom line, if you’re after a vast array of trading markets, products, and high leverage, Binance is the best crypto futures exchange.
EXMO vs Binance: Supported Cryptocurrencies
EXMO currently supports over 50 cryptocurrencies, which might seem less than Binance.
But here’s the catch: it covers all the major cryptocurrencies and many altcoins, providing a comprehensive selection for most traders.
Binance, one of the world’s largest cryptocurrency exchanges, supports many cryptocurrencies.
In fact, as of now, Binance supports over 500 different cryptocurrencies, including many small-cap altcoins.
But that’s not all.
It also supports numerous trading pairs, including BTC, ETH, BNB, USDT, and more.
In the final analysis, if your main focus is on the diversity of available cryptocurrencies, Binance has the advantage due to its vast selection.
EXMO vs Binance: Trading Fee & Deposit/Withdrawal Fee Compared
EXMO’s trading fee is a flat 0.2% for all users regardless of their trading volume. Now, this might seem higher compared to Binance’s base rate.
But consider this: it’s a set rate, so it’s transparent and straightforward.
Like Binance, deposits on EXMO are free, but withdrawal fees vary depending on the crypto being withdrawn.
Binance operates on a tiered trading fee structure based on the 30-day trading volume and BNB balance.
The maker and taker fees start at 0.1%, which can go down to as low as 0.02% for VIP users.
If you’re wondering about deposits, they’re accessible on Binance.
However, withdrawal fees depend on the specific cryptocurrency.
Regarding fees, Binance seems to have the edge due to its lower base rate and tiered fee structure, making it more appealing for high-volume traders.
But if you prefer simplicity and transparency, EXMO’s flat-rate approach could be just the ticket.
EXMO vs Binance: Order Types
EXMO keeps it straightforward. It offers the essentials: limit orders and market orders.
While this might be simpler for beginners to navigate, experienced traders might find the options somewhat limited.
In contrast, Binance provides a robust range of order types to suit different trading strategies.
These include limit orders, market orders, stop-limit orders, and advanced types like OCO (Order Cancels Other) orders.
And it gets even better.
New to crypto trading? Learn the difference Between Cross & Isolated Margin
For sophisticated traders, Binance also offers features like trailing stop orders, which can help to maximize profits and limit losses.
Taking a good look at this, it’s clear that Binance takes the cake here with its extensive range of order types.
If you’re after simplicity, the straightforward order types on EXMO might be just what you need.
EXMO vs Binance: KYC Requirements & KYC Limits
EXMO has mandatory KYC requirements for all its users, regardless of the transaction size. This means you’ll have to verify your identity even for smaller transactions.
While this might seem cumbersome, it’s a measure EXMO takes to ensure enhanced security and prevent illegal activities on its platform.
Like EXMO, Binance adopts a strict approach to KYC where you cannot place a trade request without completing a basic level of KYC with the platform.
So who’s the winner in this round? It is a tie as both exchanges need you to complete a basic level of KYC to use them.
EXMO vs Binance: Deposits & Withdrawal Options
EXMO offers a variety of deposit and withdrawal options, including cryptocurrencies, and fiat currencies (USD, EUR, GBP, RUB)
EXMO offers other payment methods like bank transfers, credit cards, and popular e-wallets.
However, the availability of these options may vary based on your location and KYC status.
Binance, on the other hand, is a global giant with an even more extensive selection of deposit and withdrawal methods.
It supports many cryptocurrencies and fiat options via bank transfers, credit/debit cards, and various third-party payment platforms, such as Simplex, Koinal, and Paxos.
So, regarding deposit and withdrawal options, Binance comes out on top.
Yet, EXMO’s deposit and withdrawal methods should suffice for most users, especially those in the regions where EXMO predominantly operates.
EXMO vs Binance: Trading & Platform Experience Comparison
EXMO, with its intuitive user interface and simple trading options, is perfect for beginners.
The platform offers basic order types and charting tools that help newbies ease into crypto trading.
However, for seasoned traders seeking advanced charting tools and trading features, EXMO might seem limited.
Now, let’s swing the spotlight to Binance.
If you’re a veteran crypto trader looking for a platform that offers an all-encompassing trading experience, Binance could be your holy grail.
Not only does it offer a clean and user-friendly interface, but it also packs a punch with an extensive range of trading features.
These include spot trading, Futures trading, margin trading, and more sophisticated order types.
Plus, it has an impressive array of analysis tools and indicators that can be a boon for seasoned traders.
So, who takes the trophy in this comparison?
The depth of its features, the sophistication of its trading tools, and the fluidity of its user experience make it a powerhouse for crypto trading. To learn more about the exchange, you can check this Binance futures guide.
EXMO vs Binance: Customer Support
EXMO puts a clear emphasis on customer support. Users have access to 24/7 assistance via live chat and email.
What’s more, EXMO also offers phone support, a rare service in the world of crypto exchanges.
And the cherry on the cake?
Their response time is laudable, making for a smooth customer experience.
Now, moving over to Binance.
Binance’s support system includes 24/7 live chat, email, and a comprehensive FAQ section.
But here’s the catch.
Despite their round-the-clock service, Binance has been known to have slower response times, which can be a bit of a downer, especially during trading emergencies.
When it comes to customer support, EXMO edges out Binance. While both offer 24/7 assistance, EXMO’s swift response time and added benefit of phone support seal the deal.
EXMO vs Binance: Security Features
Starting with EXMO, it showcases robust security measures. These include two-factor authentication (2FA), IP recognition, and cold storage of funds.
But wait, there’s more.
EXMO also offers encrypted SSL connections to protect user information.
However, EXMO has faced some security incidents but has strengthened its protective measures.
Let’s turn our gaze to Binance.
As a global powerhouse in the crypto sphere, Binance goes the extra mile in providing a fortified security framework.
They use an advanced multi-tier and multi-cluster system architecture for accounts’ protection.
Furthermore, they have 2FA, anti-phishing measures, and a secure Asset Fund for Users (SAFU) to cover potential losses due to unforeseen security breaches.
So, who takes the crown?
Thanks to its innovative and layered security infrastructure, Binance arguably has the upper hand in security.
Remember, safety comes first!
Is EXMO Safe & Legal To Use?
EXMO is a UK-based cryptocurrency exchange duly registered and complies with international financial regulations.
Still wondering if it’s legal? Well, it operates in more than 100 countries worldwide, adhering to the laws of each jurisdiction.
But let’s not stop there.
EXMO employs stringent security protocols such as two-factor authentication, IP recognition, and cold storage for funds, all designed to protect your assets and personal data.
In the face of occasional security breaches, EXMO has shown resilience and commitment to its user safety by promptly addressing issues and beefing up its security measures.
While EXMO, like any platform, isn’t 100% infallible, it is a legal entity that takes significant steps to ensure its users’ safety.
Nonetheless, as a user, you should also do your part by following recommended safety practices.
Is Binance Safe & Legal To Use?
Binance, established in 2017, is recognized worldwide as one of the largest and most influential cryptocurrency exchanges.
Were you worried about legality?
You’ll be relieved to know that Binance complies with the regulations of each country it operates in.
Binance utilizes a multi-tier and multi-cluster system architecture for utmost security.
It also implements industry-leading security measures such as two-factor authentication, withdrawal whitelist, and advanced encryption technology to safeguard your assets and personal data.
However, Binance has had its share of security issues like any other platform.
The good news?
Binance has demonstrated resilience and an unwavering commitment to user safety by quickly addressing such incidents and continuously improving its security protocols.
Although no platform can guarantee 100% security, Binance is a legally-operating entity that makes significant efforts to ensure the safety of its users.
Remember, it’s equally essential for users to adopt recommended security practices to enhance their safety.
EXMO vs Binance Conclusion
Stuck between EXMO and Binance? Here’s the bottom line.
If a well-established platform with a broad range of cryptocurrencies and robust security measures is what you’re after, Binance might be your go-to.
Its cutting-edge platform and vast global reach make it an ideal choice for seasoned traders.
On the other hand, if you’re a beginner looking for a more user-friendly interface and straightforward navigation, you might find EXMO more up your alley.
Its local currency support also makes it an appealing choice for specific regions.
Learn how does EXMO & Binance stack up against the competition: