When it comes to best cryptocurrency exchange, we mostly hear only two names, Binance and BitMex. Both the crypto exchange are exceptionally fast, safe and secure. They are counted among the top 10 best cryptocurrency exchange in terms of both volume and user feedback.
If you are searching for the best cryptocurrency exchange platform then most probably you are a new member in the cryptocurrency world. So, do go through our pro tips for beginners in the world of crypto’s. You might be confused between Binance and BitMex. You might think which one is better for beginners? Well, we are here to clear all your confusions.
Besides trading, there are a number of features a wallet needs to have. Although both exchanges have basic essential tools, some pro tools do lack. Like the margin, the trading option is available only in BitMex. Let’s have a detailed look for which is a better cryptocurrency exchange, BitMex or Binance.
Binance: All you need to know
Binance originates from the Binary + Finance. New people are likely to read only the negative comments. The only negative review that you will find about Binance is its credibility. Most people ask that if Binance is a Chinese company then why is it’s headquarter located in Japan?. Well, this misconception needs to be cleared.
In late 2017, the Chinese government banned cryptocurrencies. Because of this Binance decided to shift to a more friendly country like Japan.
Binance is one of the largest cryptocurrency exchange and allows you to trade in cryptocurrencies as well as fiat currencies. Reportedly Binance claims that they are capable of processing 1,400,000 orders per second. Which is just amazing and shows the technology on which the company has been working for years.
Binance has ample features for both beginners and pros. The user-friendly interface makes everything comfortable for beginners. Whereas the strong analytical tools and technical charts make it likeable by analysts and economists.
In terms of security, Binance is exceptionally good. It asks you to set up a 2FA security while signing up. Most importantly it has levels of security which determines how much coins you can withdraw. It’s too early to judge, which is the better cryptocurrency exchange. So read the other half too.
When it comes to fees, no one can beat Binance. It has the cheapest fee structure which consists of 0.1% fees per transaction. While withdrawing you can use their own coin named BNB to get flat 50% off on Transaction fees, making it just 0.05%.
BitMex: is it better than Binance?
Coming to which is a better cryptocurrency exchange, let’s have a look at the details of BitMex. BitMex is a relatively older cryptocurrency exchange, with its headquarters in Hong Kong. It is one of the most advanced cryptocurrency exchange. While placing a buy order it gives you options like limit, stop loss, open order just like share market.
Unbelievably it’s an amazing feature which gives bitemax an upper hand. The UI seems a bit complicated for beginners but pros will know how beneficial the charts are. In terms of security, both wallets are convenient.
Binance vs BitMex: Which is a better cryptocurrency exchange
While both Binance and BitMex are equally good and secure, some features differentiate them. The choice between both depends upon one’s need and usage type.
Binance is mostly for new users, who are new to the world of cryptocurrencies. Whereas BitMex is more of a platform to be used by matured traders and investors.
Binance also keeps on updating its commodities to keep the community intact. On the other hand, BitMex is mature and doesn’t need a new item to attract users. The best way to make out which is a better cryptocurrency exchange is to use both and then find out which suits you better.