If you want to truly optimize your cryptocurrency trading experience, a lot of thought and planning is required. Every decision you make, all the way down to what exchanges you choose, could be consequential. Two of the largest exchanges, Binance and Bittrex, offer users an extensive but unique list of tools and capabilities. We’ve done our research and compared Binance vs Bittrex so you can be confident you’re making the right decision.

Trading Pairs

If you’re interested in a large selection of digital assets, both Binance and Bittrex should satisfy your need.

Currently, Bittrex offers 265 trading pairs and Binance offers 299.

Be aware that a large list of offered coins indicates that the vetting process isn’t too strict. In the past many coins on both exchanges have had to been delisted due to insufficient volume and fraud.

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Getting Started

When signing up for both exchanges, users will notice there is much more information required to become a Bittrex user.

While Binance only requires an email address for basic users, Bittrex asks users for their date of birth, country of residence, address, a phone number, and proof of identification. People in the cryptocurrency space are usually not too excited to give up their personal information, causing many users to complain about the Bittrex sign up process. Despite this, the site has an easier interface to navigate and can make the actual buying process more simple for beginners.

Binance’s user experience is focused more on tools for trading and analysis, gearing itself more toward users who are already familiar with crypto.

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Withdrawal Limit

To many, the withdrawal limits imposed by crypto exchanges can potentially pose a significant threat to the overall usability of the exchange. The withdrawal limits of Bittrex and Binance are both based on a verification tier system. The more information a customer is willing to provide to the exchange, the more they will be able to withdraw per day. The information required and tiers of limitations differ between Bittrex and Binance.

Bittrex has a strict limit on how much you can withdraw during a 24 hour period. If the user is unverified, there is a withdrawal limit of 1 BTC per day. When users become verified the Bittrex withdrawal limit bumps up to 3 BTC per day.

Binance has a bigger withdrawal amount for basic users. “Level 1” Binance users can withdraw a maximum of 2 BTC per day. After a Binance user goes through the verification process, the accounts are considered to be “Level 2” and can withdraw as much as 100 BTC in a 24 hour period.

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Fiat Trading

Fiat trading is a big deal for cryptocurrency exchanges. It can open up the space to millions of new users and, more importantly for many, makes the process of buying and selling simpler.

While not a universal feature, Bittrex allows users to buy and sell cryptocurrencies with US dollars. Bittrex also has plans to expand this feature to include more fiat pairs with wider geographic reach.

Binance is a cryptocurrency only exchange so users will have to use at least one other exchange if they wish to take a larger position in crypto.

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Trading on the Go

As with most, both Binance and Bittrex are primarily web-based. Unlike Bittrex however, Binance has a fully functional mobile app for Android and Windows. There is also an iOS app still in Beta. Downloading the Binance apps is also super easy.

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Fees

Bittrex charges a flat fee of 0.25% on all trades.

The fee for trading on Binance is much lower at 0.1%. Users also have the option of using Binance’s native token, BNB, to bringing the cost down to only 0.05%.

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Conclusion

Overall, both Binance and Bittrex offer industry-leading security of your assets. Both exchanges have experienced very few hacks which is an obvious plus considering the amount of cryptocurrency that has been lost to hackers.

Both exchanges also offer attentive customer service should you have any technical difficulties. Binance however, separates itself from Bittrex when it comes to assets liquidity and the sheer volume of trading it can handle.

Most users will find both Bittrex and Binance satisfactory, but the Binance platform will appeal more to those looking to grow into advanced traders while Bittrex will work best for beginners looking to break into the Bitcoin scene.

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