Binance vs Bittrex: Which Exchange Is Better For You?

Binance vs Bittrex are two popular exchange websites that allow you to trade cryptocurrencies in an advanced trading platform. 

Fees are very competitive, and you can deposit and withdraw funds with various payment methods. Many cryptocurrencies are supported and you can trade them with low trading fees too.

And In this article, we will review both the exchange platform. We will go through, fees, crypto supported, payment methods, trading platforms, verification, and more.

Introduction

Binance Introduction

Binance exchange websites offer crypto trading with many major cryptos available to trade. Besides crypto trading, you can also buy and sell cryptocurrencies. Many payment methods are available that you can use to deposit and withdraw funds. 

Binance supports cryptocurrencies as Bitcoin, Ethereum, Ripple, and more. Binance was founded by Chanpeng Zhao in 2017. It’s a very popular crypto exchange with an average daily volume of over $2 billion. Fees are very competitive in the trading platform when you trade. 

Binance does not charge deposit and withdrawal fees. The registration process is very simple and it’s not complicated. After you create your account, to fully use your account and upgrade your limits and features, you’ll need to verify your account.

The verification of the account will give you more limits to deposit and withdraw funds. Binance support team, it’s available through different support methods. You can send an email, visit the Frequently Asked Questions page to get more information or contact the live chat support.

Bittrex Introduction

Bittrex has a volume of $1.40 billion per day over $1 trillion volume yearly. It was founded in 2014 by Tom Albright and Stephen Stenberg. With Bittrex you can trade major cryptocurrencies like Bitcoin, Ethereum, and more.

Bittrex is a very safe trading platform that provides additional security features. The deposit and withdrawal process is very quick and it has low fees. You cannot buy or sell cryptocurrencies, but you can only trade crypto.

Bittrex has some of the lowest fees in trading that start from 0.08%. You can use the trading platform to trade directly from the Bittrex website. And you can also download the mobile app to trade directly from your smartphone.

You will need to verify your account after the registration. A photo of yourself by showing your face it’s needed and you will have to take a shot with your camera during the verification. Also, an identity document such as a passport, national ID card, or a driving license is required.

Cryptocurrencies supported

Binance Cryptocurrencies supported

Binance offers major cryptocurrencies to buy and sell crypto. Currently, Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ripple (XRP) and Litecoin (LTC) are the supported cryptocurrencies. 

You have more cryptocurrencies available to trade with the trading platform. To buy crypto you can use various payment methods with low fees. Binance also allows you to sell crypto and you can sell your cryptocurrencies by withdrawing them in different crypto wallets.

Bittrex Cryptocurrencies supported

Bittrex does not allow you to buy and sell cryptocurrencies. You can only trade in the trading platform that’ available on the Bittrex website or use the mobile app.

Bittrex supports hundreds of cryptocurrencies, tokens, and altcoins. You can trade Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Ripple (XRP), Verge (XVG), Cardano (ADA), Siacoin (SC), Monero (XRM), Dashcoin (DASH), Dogecoin (DOGE), Iota (IOTA), and many more cryptocurrencies, altcoins, and tokens.

Supported countries

Binance Supported countries

Binance it’s available in the following countries:

Yemen, Japan, Sweden, Finland, Argentina, Brazil, Germany, France, Russian Federation, Uzbekistan, Uruguay, Australia, Cameroon, Chad, Canada, Denmark, Greece, Haiti, Iceland, Libya, Mexico, Nepal, Belize, Romania, Cape Verde, Senegal, Sri Lanka, United Kingdom, Eritrea, Gambia, Indonesia, Lebanon, Angola, Malta, Bahamas, Benin, Chile, Ghana, Gibraltar, Grenada, Serbia, Guinea-Bissau, Syria, Tonga, Kenya, Namibia, Oman, Jamaica, Palau, Solomon Islands, Kyrgyzstan, Tunisia, Montenegro, Peru, Trinidad, and Tobago.

Bahrain, Belarus, Bulgaria, Colombia, Cuba, Cyprus, Algeria, Burkina Faso, Cambodia, Kuwait, Saint Lucia, South Sudan, Tanzania, Turkey, Virgin Islands, South Korea, Malawi, Maldives, Netherlands, Botswana, Qatar, Saint Kitts and Nevis, Saint Vincent and the Grenadines, Slovenia, Sudan, Taiwan, Tuvalu, Vatican City, Malaysia, Moldova, Nauru, Papua New Guinea, Zambia, Andorra, Bolivia, Afghanistan, Congo, Cote d’Ivoire, LaosDominican Republic, Mauritania, Egypt, Gabon, Morocco, Uganda, Nigeria, Swaziland, Vietnam, Austria, Barbados, Bosnia and Herzegovina, Djibouti, Equatorial Guinea, Comoros.

Estonia, Fiji, Ethiopia, Mali, Hong Kong, Ireland, Italy, Philippines, Northern Macedonia, Poland, Madagascar, Sierra Leone, Vanuatu, Panama, Portugal, Samoa, Saudi,  Arabia, Timor-Leste, Albania, Burundi, Guinea, Iran, Armenia, Bangladesh, Belgium, Kiribati, Lithuania, Bhutan, Mongolia, Cayman Islands, Myanmar, Niger, Rwanda, Sao Tome and Principe, Slovakia, Czech Republic, Thailand, United Arab Emirates, Ecuador, India, North Korea, Liberia, Marshall Islands, Mozambique, New Zealand, Pakistan, Venezuela.

Zimbabwe, Antigua and Barbuda, Croatia, Guyana, Kazakhstan, Lesotho, Central African Republic, Norway, Paraguay, San Marino, Spain, Suriname, Switzerland, Tajikistan, Guatemala, Honduras, Iraq, Mauritius, Nicaragua, Singapore, Somalia, Azerbaijan, Brunei, China, Costa Rica, El Salvador, Georgia, Hungary, Israel, Jordan, Latvia, Micronesia, Seychelles, South Africa, Turkmenistan, UkraineIsle of Man, Kosovo, Monaco, Liechtenstein, Luxembourg, and Togo.

Bittrex Supported countries

Bittrex platform it’s not regulated in the following countries and thus cannot use the Bittrex platform: 

Afghanistan, Egypt, Bosnia-Herzegovina, Botswana, Cambodia, Central African Republic, the Democratic Republic of the Congo, Côte d’Ivoire, Ethiopia, Eritrea, Ghana, Guinea, Guinea-Bissau, Guyana, Iraq, Laos, Lebanon, Libya, Maldives, Pakistan, Sri Lanka, Somalia, Sudan, South Sudan, Trinidad, and Tobago, Tunisia, Uganda, Vanuatu, Venezuela, Yemen, and Zimbabwe.

Trading 

Binance Trading 

Bitcoin provides access to an advanced trading platform that’s easy to use as a crypto trader. Even, a new trader in crypto won’t have many difficulties to use the trading platform. You can use the trading platform by vising the trading page on the Binance website. The trading platform on the website offers full experience in trading with many tools and options available. 

You can quickly open sell and buy orders, also you can open pending orders too. You can trade many crypto coins like Bitcoin, Ethereum, Ripple, Litecoin, and more. Binance offers Bitcoin futures and options that you can trade in the trading platform. The minimum amount that you can trade is 0.0001 BTC. 

Besides the trading tools that you can use, Binance has integrated TradingView in the trading platform. TradingView is one of the most advanced and used platforms for analyzing charts. And you can use it on the Binance trading platform to analyze the crypto charts easier.

The trading platform it’s available on mobile phones too. You can download it on Apple Store and Google Play Store. The mobile app allows crypto trading too, but it doesn’t offer the same experience as the website version. But you can use the mobile app to trade crypto more simply, even if you’re not at home or in front of your laptop or pc.

Bittrex Trading 

Bittrex is known for crypto trading, as it offers many cryptocurrencies to trade. The trading platform supports Bitcoin, Bitcoin Cash, Ethereum, Ripple, Adacoin, and many more crypto coins. The design of the trading platform it’s based on a dark design with an interface that’s easy to explore. 

You can use the market chart option to see the charts in a simpler model. But if you want to see the charts in-depth, then you can switch to the “depth chart” mode to explore more features and use more time frames on charts. From the left top side, you can choose the cryptocurrencies that you want to trade. 

You can use the trading platform directly from the Bittrex website. Besides the website, the Bittrex trading platform it’s accessible from the mobile too. You can download the Bittrex mobile app in Google Play Store or Apple Store and trade from your phone.

Deposit & Withdrawal methods

Binance Deposit & Withdrawal methods

Binance offers many payment methods to deposit funds. Once you create your account, you will be able to choose your preferred payment method to deposit funds. Over 50 cryptocurrencies and altcoins are supported, and you can use them to deposit crypto funds in the Binance website. 

You can deposit with Bitcoin, Ripple, Litecoin, Ethereum, Cardano, and more. Other payments are available besides cryptocurrencies. You can use the following payment methods to deposit funds:

• Bank Wire Transfer
• Credit and Debit Card (Visa & MasterCard)
• Alipay
• WeChat
• QIWI
• Simplex 
• Koinal 
• Paxful 
• BANXA

When it comes to the withdrawal methods, Binance offers only cryptocurrencies as withdrawal methods. Funds can be withdrawn directly to your crypto wallet address such as Bitcoin wallet, Ripple wallet, Ethereum wallet, and more. 

You also have the option to use the Trust Wallet to withdraw funds directly into the Trust Wallet.

Bittrex Deposit & Withdrawal methods

Bittrex does not offer deposit methods with debit cards, credit cards, bank transfer, or electronic wallets through the Bittrex website. But you can use payment methods with a debit card and credit only in the mobile app.

You can deposit through the Bittrex website only through cryptocurrencies, so you will need to have a wallet first. You can use an online wallet as a Blockchain wallet, MyEther Wallet, and other wallets. 

Once, you have created a wallet, you will have to deposit funds from your wallet to the address shown during the deposit process. Bitcoin deposits can take more than 1 hour to be processed because of blockchain network confirmation. 

Bittrex charges a fee of 0.0005 BTC or more for withdrawal requests. You can withdraw funds similar to the deposit method, with only cryptocurrencies. The withdrawal process can take hours or days to be processed in your account. 

Fees

Binance Fees

30d Trade Volume (BTC)	BNB Balance	Maker/Taker	Maker/Taker	Maker/Taker
< 50 BTC	≥ 0 BNB	0.1000% / 0.1000%	0.0750% / 0.0750%	0.0600%  /  0.0600%
≥ 50 BTC	≥ 50 BNB	0.0900% / 0.1000%	0.0675% / 0.0750%	0.0540%  /  0.0600%
≥ 500 BTC	≥ 200 BNB	0.0800% / 0.1000%	0.0600% / 0.0750%	0.0480%  /  0.0600%
≥ 1500 BTC	≥ 500 BNB	0.0700% / 0.1000%	0.0525% / 0.0750%	0.0420%  /  0.0600%
≥ 4500 BTC	≥ 1000 BNB	0.0700% / 0.0900%	0.0525% / 0.0675%	0.0420%  /  0.0540%
≥ 10000 BTC	≥ 2000 BNB	0.0600% / 0.0800%	0.0450% / 0.0600%	0.0360%  /  0.0480%
≥ 20000 BTC	≥ 3500 BNB	0.0500% / 0.0700%	0.0375% / 0.0525%	0.0300%  /  0.0420%
≥ 40000 BTC	≥ 6000 BNB	0.0400% / 0.0600%	0.0300% / 0.0450%	0.0240%  /  0.0360%
≥ 80000 BTC	≥ 9000 BNB	0.0300% / 0.0500%	0.0225% / 0.0375%	0.0180%  /  0.0300%
≥ 150000 BTC	≥ 11000 BNB	0.0200% / 0.0400%	0.0150% / 0.0300%	0.0120%  /  0.0240%

Bittrex Fees

30-day volume (USD)	Maker Fee	Taker Fee
$0K – $50K	0.20%	0.20%
$50K – $1M	0.12%	0.18%
$1M – $10M	0.05%	0.15%
$10 – $60M	0.02%	0.10%
$60M+	0.00%	0.08%

Verification

Binance Verification

Binance requires identity verification of your account. You will have to submit an ID document such as an ID card, passport, or a driving license. The second verification step is to verify your face, so you will need to take a photo of your face with the camera. 

Binance uses the Netverifiy verification and the verification process is very quick. The number of attempts to verify your account is limited. So you will have 10 limits per day to verify your account.

Bittrex Verification

Bittrex requires identity verification too and you can verify your account through your account menu. You can use a passport, diver’s license, or identity card to complete the first verification procedure. 

The second step is to verify your account with a selfie photo and you will have to take a photo of your face with a camera from your laptop, pc or phone. The verification process it’s simpler to proceed through mobile, so we recommend you to download the mobile Bittrex app.

Client Support

Binance Client Support

Binance supports the team its available to contact through live chat and email support. Binance does not offer support through phone. The live chat support team its available 24 hours a day and 7 days a week. 

Besides the contact options, you can get more information about Binance by visiting the Frequently Asked Questions page.

Bittrex Client Support

You can visit the FAQ to get more details about Bittrex fees, account verification, trading platform, and more. Besides that, you can message the support team by sending an email or submitting a ticket. Bittrex does not offer support through live chat or phone.

Summary

Binance its one of the most popular platforms to buy and sell crypto. When it comes to the trading platform, it offers many features and options in the trading platform. But Binance it’s known mostly for their service to buy and sell crypto.

Bittrex does not allow you to buy or sell cryptocurrencies. Bittrex its an old crypto trading platform that’s used by thousands of clients. We can highly recommend Bittrex to trade crypto as its easy to use and supports many crypto coins. If you also enjoyed this article we would also recommend our Binance vs Kraken article as well.

Image via shutterstock, Writer Behar H.