Which is Best: Binance or Poloniex? There are so many exchanges exists in cryptoworld but it is always confusing to choose trusted and authentic one so to help them today, we are going to make detailed Binance vs Poloniex review. In this article we will tell how both crypto exchanges works and what is the fees or they charge for trading and how is the response from support team so let’s get started without further delay.

There are number of ways to make money and become wealthy. May not be billionaire but you have become millionaire making some investments along with strategies. One of the best ways is making investments in Cryptocurrencies. Hence we have written this article of comparison of cryptocurrencies’ exchange. Today in this article we are going to see which the best exchange amongst Binance Exchange or Poloniex Exchange that offers you best services to its clients. The article addresses to all the doubts that any investor have for the first time.

We insist all the viewers to read all the details listed very carefully and only then to take decision. We are well aware, in the beginning any investor’s first question is which exchange is reliable and in which exchange to open the account. Hence here is the comparision between two of the most known and widely used exchanges which will clear the doubts in the minds of the customers.

Looks and UI

About Poloniex, when we open the website, we can see a very simple and common desktop. Not interesting and asking to create an account. The details are very simply listed there and nothing about the exchange is available nor can we find any new updates of the cryptoworld in the home screen.

Whereas the Binance shows little different picture. The colour combination attracts the viewers. Scrolling down the home page is a list of all the listed currencies available to trade in Binance with the data. We can find the latest and newest figure from the home screen itself.

Hence here we can say that Binance takes the place in terms of Looks and attractiveness.

Inbuilt Wallet Service

Offering wallet services by the exchanges is a very apt thing. Here both the exchanges i.e. Binance Exchange and Poloniex Exchange are offering their buyers the wallets services which is recommendable. Both the exchanges are offering this service for no cost and is completely FREE of charge.

But we don’t recommend you to store your funds in these wallets offered by exchanges. The main reason behind this is your cryptos are not with you but are lying with the exchange itself. And if at any point of time the exchange may shut down then you can’t go and ask them about your cryptos. Though it is very extreme case but your funds are at risk. Hence we advise you to transfer your cryptos in your personal wallets.

You can store your funds in the wallets of exchanges is you are trading very often then it is a very useful way. So here you can choose any of the exchanges to open an account.

The Team

As opening an account it is very much necessary to disclose the identity of the team of developers and the background of the exchange. Without the background the clients may feel cheated and distrusted and don’t open their account. Even for the safety and reliability the information of the exchanges should be aired to its clients.

Poloniex exchange is working from last few years but there is no information available of the team of developers or the office address where it is exactly situated. Moreover you can’t even trace any of the workers of the exchange. Even there is no registered contact information available on the website too. It becomes at times difficult when there is any problem with the account.

Once back in the past, the exchange was been hacked by a group of hackers and had stolen few Bitcoins from the clients’ accounts however the exchange immediately paid the clients back. But the main thing to see is that the whole exchange was hacked.

On the other side Binance is well verse with a team led by Changpeng Zhao and it gives an amount of trust to the account holders of Binance and to the new account holders also. Moreover the team of technicians always have constant eyes on the exchange for the safety and security of the account holders’ funds. Hence here Binance bags the market of trust and reliable team.

Range of Cryptocurrencies

The next parameter to compare is the wide range of cryptos traded on these exchanges. Because the traders are not keen on trading in only single crypto, they are always looking for new and latest currencies.

Poloniex as an exchange is available from last few years in the market and is having more than 70 cryptos available to trade in. This gives a kind of variety to the clients to trade in with the pairs as well as with the fiat currencies.

The other way, Binance has just come in the market not more than 1 year. But this exchange offers approximately 100 digital assets to trade in. moreover Binance lists most of the new currencies that are getting listed are available to trade in Binance. Even the range of variety increases with Binance to offer new cryptos for the clients to trade in.

We can conclude that here Binance is a better option to select when it comes to wide range of cryptos to trade in.

Last but not the least is the fees charged by the exchanges. Here we are showing you the fees charged by the following exchanges in the table form.

Poloniex Fees Structure

Poloniex is a very dynamic and flexible website that evenly makes changes in the fees. They calculate the trading volume of past 30 days and make minor changes in their fees. Below mentioned table will guide you with the exact exchange prices.

Maker Taker Trade Volume (trailing 30 day avg) 0.15% 0.25% < 600 BTC 0.14% 0.24% = 600 BTC 0.12% 0.22% = 1,200 BTC 0.10% 0.20% = 2,400 BTC 0.08% 0.16% = 6,000 BTC 0.05% 0.14% = 12,000 BTC 0.02% 0.12% = 18,000 BTC 0.00% 0.10% = 24,000 BTC 0.00% 0.08% = 60,000 BTC 0.00% 0.05% = 120,000 BTC

Binance Fees Structure

Binance is having the common fees rate of 0.1% for trading. Moreover you can avail a discount of 50% if you are paying with BNB to Binance exchange. There is a withdrawal fee charged by the exchange which vary with each digital coin. Again you can get the exact from the table listed below.

No COIN CODE Fee Unit 1 Binance Coin BNB 1 BNB 2 Bitcoin BTC 0.001 BTC 3 Ethereum ETH 0.01 ETH 4 Litcoin LTC 0.01 LTC 5 Neo NEO Free NEO 6 Qtum QTUM 0.01 QTUM 7 Status SNT 50 SNT 8 Bancor BNT 1.2 BNT 9 Eos EOS 0.7 EOS 10 Bitcoin Cash BCC 0.0005 BCC 11 Gas GAS Free GAS 12 USDT USDT 25 USDT 13 openANX OAX 6 OAX 14 district0x DNT 60 DNT 15 Monaco MCO 0.3 MCO 16 Iconomi ICN 2 ICN 17 Walton WTC 0.4 WTC 18 OmiseGO OMG 0.3 OMG 19 0x ZRX 10 ZRX 20 Stratis STRAT 0.1 STRAT 21 SingularDTV SNGLS 20 SNGLS 22 Bitquence BQX 2 BQX 23 KyberNetwork KNC 2 KNC 24 FunFair FUN 80 FUN 25 SONM SNM 20 SNM 26 ChainLink LINK 10 LINK 27 Verge XVG 0.1 XVG 28 Centra CTR 7 CTR 29 Salt SALT 0.4 SALT 30 IOTA IOTA 0.5 IOTA 31 Moeda Loyalty Points MDA 2 MDA 32 Metal MTL 0.5 MTL 33 Substratum SUB 4 SUB 34 Ethereum Classic ETC 0.01 ETC 35 Monetha MTH 35 MTH 36 Enigma ENG 5 ENG 37 AirSwap AST 10 AST 38 Bitcoin Gold BTG ?? BTG 39 Dash DASH 0.002 DASH 40 Everex EVX 2.5 EVX 41 Request Network REQ 15 REQ 42 Loopring LRC 12 LRC 43 Viberate VIB 20 VIB 44 Hshare HSR 0.0001 HSR 45 Tron TRX 100 TRX 46 PowerLedger POWR 5 POWR 47 Ark ARK 0.1 ARK 48 YOYOW YOYO 10 YOYO 49 Ripple XRP 0.15 XRP 50 Modum MOD 2 MOD 51 Enjin ENJ 80 ENJ 52 Storj STORJ 3 STORJ 53 VeChain VEN 5 VEN 54 Komodo KMD 1 KMD 55 Nuls NULS 4 NULS 56 Ripio Credit Network RCN 20 RCN 57 Raiden Network Token RDN 0.3 RDN 58 Monero XMR 0.04 XMR 59 Agrello DLT 15 DLT 60 Amber AMB 10 AMB 61 Basic Attention Token BAT 15 BAT 62 ZCASH ZEC 0.005 ZEC 63 BlockMason Credit Protocol BCPT 14 BCPT 64 Aeron ARN 7 ARN 65 Genesis Vision GVT 0.5 GVT 66 CoinDash CDT 35 CDT 67 GXSshares GXS 0.3 GXS 68 Po.et POE 350 POE 69 Quantstamp QSP 30 QSP 70 BitShares BTS 1 BTS 71 ZCoin XZC 0.02 XZC 72 Lisk LSK 0.1 LSK 73 Tierion TNT 35 TNT 74 Etherparty FUEL 60 FUEL 75 Decentraland MANA 30 MANA 76 Bitcoin Diamond BCD 0.0005 BCD 77 DigixDAO DGD 0.03 DGD 78 AdEx ADX 2 ADX 79 Cardano ADA 1 ADA 80 Populous PPT 0.1 PPT 81 CyberMiles CMT 15 CMT 82 Stellar Lumens XLM 0.01 XLM 83 Cindicator CND 180 CND 84 ETHLend LEND 50 LEND 85 Wabi WABI 4 WABI 86 Time New Bank TNB 70 TNB 87 Waves WAVES 0.002 WAVES 88 ICON ICX 1.5 ICX 89 GIFTO GTO 30 GTO 90 Simple Token OST 15 OST 91 ælf ELF 2 ELF 92 Aion AION 1 AION 93 Neblio NEBL 0.01 NEBL 94 Bread BRD 3 BRD 95 Eidoo EDO 1.5 EDO 96 Wings WINGS 3 WINGS 97 NAV COIN NAV 0.2 NAV 98 Lunyr LUN 0.3 LUN 99 Triggers TRIG 5 TRIG

Conclusion

According to the experts and investors that are trading regularly we advise to open account in the Binance as it has a wider scope and with that you have great discounts waiting with the transactions.