A Comparison Of Binance Vs Coinspot.
One of the most competitively priced exchanges available to Australians is Binance, with lower fees than most of its competitors. The trading fee varies based on whether you are a "maker" or "taker". Interested? We have more details on keyword_placeholder.
FAQ - Curious to know?
How does Binance make money?
Fees to trade as well as trades generated a record revenue of $20 billion for the year. Margin borrow interest, charges for futures trading, as well as Cross collateral rates are included in the charges.
Is CoinSpot or Binance better?
If you are looking for a good option for long-term investors and first-time traders, you should look at coin spot. The Live chat support crew is very helpful and it is easy to use Coinspot. If you have traded other assets, such as stocks, you will probably prefer Binance due to its lower costs for regular traders and advanced features.
Can you lose money on Binance?
Sure you can. Cryptocurrencies are highly volatile and are a very risky activit y.y ou should never invest more than you are prepared to lose in trading cryptocurrencies.
Conclusion
Better features, more markets, and cheaper trading fees make Binance Australia a superior exchange to coin spot. There are unique features that cater to the Australian market such as SMSF support, but more Australians will benefit from the robust features of Binance. Even beginners should be able to navigate their way around the interface because it is so well designed. The only downside to CoinSpot is that they are more responsive.
These are the pros and cons
binance
Pros
- - Comprehensive trade types (allows you to trade options and futures).
- - Extensive charging options.
- - Low trading fees.
- - Hundreds of cryptocurrencies.
Cons
- - Beginners might find the Pro version challenging to use.
- - No built-in wallet.
coinspot
Pros
- - - Otc trades.
- - - Buy NFTs with any cryptocurrency.
- - - Live chat support.
Cons
- - High instant buy/sell fees.
Features
| Specification | binance | coinspot |
|---|---|---|
| Credit | Yes | No |
| Cryptocurrencies: | 600+ | 360+ |
| Deposit fee | Free | BPAY: 0.9%, Cash: 2.5% | Bank transfer, POLi, PayID, OSKO: Free |
| Fiat Currencies | More than 500 (148 for Binance.US users) | AUD |
| Fiat currency | AUD | AUD |
| Headquarter: | Malta | Australia |
| Maker | 0.10% | 0.10% |
| Market | Yes | Spot |
| Max. Trading Fee | 0.1% | 1% |
| Mobile App | Yes | Yes (iOS and Android) |
| Offers Derivatives | Yes | No |
| Payment methods | PayID/OSKO | PayID, Cash Deposit, Bank transfer, OSKO, BPAY, POLi |
| Review: | Read our full Binance Au... review | Read our full CoinSpot review |
| Supported Crypto | 446 | 128 |
| Taker | 0.10% | 0.10% |
| Trading fees | 0.1% | Market: 0.1%, Instant buy: 1% |
| US Allowed | No | No |
| Website | https://www.binance.com/ | https://www.coinspot.com.au/ |
| Wire | Yes | Yes |
| Withdrawal Fee | BTC 0.0002 | Free |