Binance: The Best New Crypto Exchange?

I have used most crypto exchanges but I strongly prefer Binance. Today I want to discuss the exchanges I have used and let you know which I would and wouldn't recommend you try.

I will go through the exchanges I have tried, in no particular order, and I will try to clearly outline which are good, and which are not. If I do not mention it here, I have not used it. If I hate on your favourite let me know, let's talk.

Bittrex:

This is my second favorite exchange, it carries a lot of tokens and they have proven themselves trustworthy, they recently gave me my Bitcoin Gold fork coins which I was surprised to see. They charge some very high fees though, 0.25% per trade, and also some shockingly high withdrawal fees.

Each coins withdrawal fee is different but one example I hate is their Neo withdrawal fees. Last I checked Bittrex charges 0.2 Neo to withdrawal Neo, first of all that's $12 USD, second of all Neo doesn't technically split and this is cumbersome because if you end up sending say 10 Neo you will lose 1 full Neo because Bittrex takes 0.2 Neo and then 0.8 is lost because you can't send partial units of Neo.

I use Bittrex a lot, or I used to, now that I am in Binance I suspect I won't use Bittrex as much. If you can get an account with them I would recommend you do, however they are not accepting new applicants at time of this post.

Bitfinex:

If you live in the USA you can no longer trade on this exchange, but that might be a good thing. This exchange has begun instituting funding fees, withdrawal fees, and there are minimum withdrawal limits as well as maximum limits.

More importantly there are some serious concerns over Bitfinex's involvement with Tether. It is thought they might be lying about their liquidity to support their USDT sales. If so that could tear down Bitfinex in a hurry, were it ever proven.

I only use Bitfinex if I have to, and mostly I don't have to. IOTA was the main reason I even got an account with Bitfinex but now Binance sells IOTA.

Bithumb:

This is a Korean exchange which is reliable and large, with good sales and liquidity so there's that, however, their tokens are almost all about 25% higher than every other exchange. I don't know why their prices are so much higher but they are consistently higher.

In a pinch I use this exchange but there crypto selection is not the best.

Coinsquare:

If you are in Canada, you should fund your Bitcoin journey through Coinsquare, as far as I have found, they have the lowest account funding fees. It is 0.25% on money order funding for values over $1,000 and up to $9,000 CAD.

Compared to 4% or 2.5% with many other options or exchanges, Coinsquare's fees are very fair.

However, Coinsquare is a small exchange and their prices fluctuate wildly. I use this site regularly but only to buy Bitcoin, at which point I move the BTC to another exchange with lower trading fees and more cryptocurrencies.

If you are interested in using Coinsquare, use my referral code and we both get a free $20.00 CAD.

Referral Link:
coinsquare.io/register?r=E4EB3832E

Coinbase:

Obviously they are huge but they lack options, their fees are huge, 4% on account funding, at least in Canada.
I really dislike using Coinbase, particularly since the Bitcoin Cash surprise listing.

I do not recommend Coinbase unless you are just trying to buy a $100 worth of crypto. Anything over $1,000 and you really need to get another exchange set up.

Changelly:

If you don't know this service you should. Its pretty cool and very convenient. What they do is this, while you are on Coinmarketcap.com if you see a "Buy/Sell Instantly" button on your favorite cyrpto page, you can click that and Changelly will open up. They will send you that crypto after you send whatever you want to trade. Example you send BTC, you receive Digibytes or XRP.

The costs are reasonable and the service is convenient. I paid about $1.20 USD to trade 0.0765 Bitcoin Cash for 5,085 Digibytes. I was very happy with this service, I would recommend them.

Referral link:
https://changelly.com/?ref_id=a033ab214f0a

EtherDelta:

This is an interesting exchange because it is decentralized, but it kinda sucks. First of all the tokens are more expensive most of the time on this site. Also the user interface is not particularly intuitive, and also they were recently hacked which is a bit alarming.

I did use them, I might again, but I wouldn't officially recommend them. Most of the coins I want from EtherDelta I find I can get on Binance or Bittrex.

Binance:

The fees on Binanace are low, 0.15% on trades. Also those fees are even lower, if you trade with Binance tokens. Side note, the Binance tokens seem like an interesting investment because they burn them when they are used for fees. Also they plan to keep some smaller number of Binance tokens for a future decentralized exchange that is not ready yet but will be at some future date.

Also Binance has a HUGE number of tokens, including some few that are very hard to find like IOTA, or Substratum.

Also Binance has a very intuitive trading platform with some technical tools, charts and limit order capabilities, which at least as much functionality as on Bittrex, or Bitfinex.

Their system is at least as good as Bittrex but Binance has lower fees and more coins for sale. And for those of you whales out there, they allow you to cash out up to 2 bitcoin DAILY, without any identity verification. That a really great selling point for big HODLers, not me, but maybe you.

I really, really like this site. It is my new main trading site. Do yourself a favor and check them out.

Referral Link:
https://www.binance.com/?ref=16877222

Conclusion:

There are many exchanges but only a few worth working with. I like Binance the best because of their low fees, high daily withdrawal limits, and large number of tradeable currencies.

I strongly recommend you give them a try, my link is provided above and I would appreciate your support in that way, however if you don't want to take my word for it, listen to Youtube content creator David Hay, who is very positive about Binance in the following video. I am sure he has a referral link you could use instead of me if you prefer. Try it, you won't regret it.

As always, if you enjoy the content I appreciate your up-votes, comments and every new follower.