Binance vs Margex Fees

Since Margex does not support fiat withdrawals or deposits, there are no relevant fees for deposits or withdrawals. Instead, users purchase crypto assets directly using their credit and debit cards, which will have a fee set by the third-party payment processor.

Margex has low trading fees, at just 0.019% for makers, and 0.060% for takers.

Binance's fiat deposit and withdrawal fees will vary depending on your location and the currency you are using.

The trading fees on Binance are low, at just 0.1% for spot trading. If you use BNB (Binance Coin) to pay for your trading fees, you receive a 25% discount on trading fees, which reduce it to just 0.075%. If you trade USDT futures, the fees are just 0.02% for makers and 0.04% for takers, which 10% discount if you pay with BNB.

Binance vs Margex Deposit Methods

When choosing a cryptocurrency exchange, one crucial consideration is the deposit methods supported by the exchange for convenience's sake.

Unfortunately for Margex customers, the platform does not support direct deposits. Users can, however, pay for their crypto using debit cards and credit cards at the time of purchase.

On the other hand, Binance supports plenty of payment methods, which vary depending on your country. Some deposit options include bank transfer, credit card, debit card, SWIFT, Google Pay, SOFORT/iDEAL, and cryptocurrency.

Binance vs Margex Features 

Margex Features

Margex is a new cryptocurrency exchange that is quickly making a name for itself in the competitive world of crypto trading. Margex offers a variety of features that appeal to both beginner and experienced traders. These include:

Great User Experience

Margex supports both debit and credit cards making it easy and convenient for users to buy cryptocurrencies. The simple user-friendly interface is one of the reasons for its popularity, as it makes it easy for beginners to trade cryptocurrencies.

Another reason for its popularity is the detailed trading guide that is available on the website. This guide provides step-by-step instructions on how to trade cryptocurrencies, making it easy for even the most inexperienced trader to get started. Finally, Margex has excellent customer support, with a team of knowledgeable representatives who are always available to help with any questions or concerns.

Simplified Verification Process

Margex has a simplified verification process that only requires an email address. This makes it easy for users to get started with trading without having to go through a lengthy KYC process. This is also an advantage in terms of privacy, as users can trade anonymously.

Affiliate Program

Margex also rewards its users for referring new members to the platform. Users can earn up to 40% of the trading fees generated by referrals.

Bonuses

Joining Margex comes with some great bonuses. For starters, you'll receive a $50 bonus to pay trading fees. And if you deposit 0.004+ BTC, you'll get an additional $50 bonus. So not only will you be able to trade without paying any fees, but you can also get a nice little boost to your account balance. Sign up here to take advantage of this offer before it expires!

Margin Trading

When it comes to margin trading, Margex is in a class of its own. With up to 100x leverage, Margex offers investors the ability to magnify their gains. For traders who are looking to take advantage of market volatility, Margex is an ideal platform. However, the high degree of leverage can also lead to quick and substantial losses. As such, margin trading is not for everyone. Those who do choose to margin trade should do so with caution and only risk capital that they can afford to lose.

Binance Features

Binance is one of the most popular cryptocurrency exchanges on the market, and the largest in the world based on trading volume. With a wide range of features, Binance is well suited for serious traders. One of the standout features of Binance is crypto lending, which allow users to earn interest on their cryptocurrency. On the other side of that is crypto borrowing, so users can easily access capital if they need to.

Other remarkable features of Binance include:

Margin Trading

Another key feature of Binance is its margin trading feature. This allows users to trade with leverage, up to 10x on certain coins, which can be a great way to magnify your gains.

Staking on 70 Coins

With Binance staking, users can earn rewards on 70 different coins just by holding them in their Binance account. This is a great way to passively earn income from your cryptocurrency portfolio.

P2P Exchange

Binance also has a peer-to-peer (P2P) exchange where users can trade directly with one another, without having to go through a centralized exchange. 

Trading Futures, Derivatives, and NFTs

NFTs, or non-fungible tokens, have been gaining in popularity in recent years. An NFT is a digital asset that is not interchangeable with other assets of the same type. In other words, each NFT is unique. This makes them ideal for representing ownership of digital items such as art, music, and other digital content. Binance offers a marketplace for trading NFTs, which allows users to buy and sell these unique assets.

In addition to NFTs, Binance also offers futures and derivatives trading. Futures contracts are agreements to buy or sell an asset at a later date, at a set price. Derivatives are financial instruments that derive their value from an underlying asset. By offering these types of trading, Binance provides investors with a way to hedge their bets on the future price of assets or speculate on price movements.

BNB Coin

To incentivize users to use Binance's platform and token, Binance has reduced trading fees by 25% if users pay with the native token (BNB). BNB was issued during their ICO and originally based on the Ethereum blockchain but has since moved to its own blockchain called Binance Chain. 

The total supply of BNB is capped at 200 million and as of September 2021, there are approximately 168 million BNB in circulation. 

One use case of the BNB token is that it can be used to pay for goods and services on the Binance platform, such as trading fees, listing fees, etc. 

Binance Visa Card

To make spending cryptocurrencies more accessible to the masses, Binance has also launched a crypto Visa card that allows users to spend their cryptocurrency holdings at retailers that accept Visa. The card is currently available in select European countries with plans to expand to other regions.

Analytical Charts

Binance has an extensive array of technical charts. These charts provide valuable data that can be used to inform trading decisions. For example, the "depth chart" shows buy and sell orders in real-time, allowing users to track market liquidity.

The "order book" shows all open orders on the Binance platform, providing an overview of market activity. And the "candlestick" chart is a valuable tool for technical analysis, showing price trends over time. This makes Binance an essential tool for anyone who wants to seriously trade cryptocurrencies successfully.

Binance vs Margex Security

In this digital age, security is paramount regarding online exchanges. Both Margex and Binance take security seriously and have implemented multiple layers of protection to safeguard user funds.

Margex employs a number of features to help protect its users' assets. Two-factor authentication (2FA) is required for all withdrawals, and email confirmation helps to prevent accidental or unauthorised transfers.

SSL encryption is used to safeguard all communications, and all users' assets are stored in cold storage to minimise the risk of theft. In addition, Margex monitors the markets in real-time to identify price manipulation and fraud and employs a liquidity pooling system to help prevent price manipulations. As a result, Margex offers its users a high degree of protection against potential losses.

Binance is equally committed to the safety of its users' assets. Being the largest and most popular cryptocurrency exchange, Binance experiences an immense volume of trading activity and therefore is open to more risk and potential hacks.

Despite this, the team at Binance has made security their number one priority, with a comprehensive list of features to keep your account and funds safe. First, all user passwords are hashed and stored using an industry-standard algorithm, meaning that even if the Binance database were to be compromised, your password would be unreadable.

2-factor authentication is also available for all accounts, providing an extra layer of protection against unauthorized login attempts. There is also a strict KYC (know your customer) policy in place to ensure that only legitimate users are able to trade on the platform. Notably, 90% of all crypto assets are stored in secure offline wallets, away from the reach of potential hackers.

In addition, Binance has implemented a number of security features such as device management, wallet address whitelisting, and API access control. Data encryption is also used to protect user information. Real-time monitoring by a risk management system helps to identify and protect against potential threats. To further protect users from hacks, Binance has also built a $1 billion insurance fund. This fund can be used to reimburse users if their funds are stolen as a result of a hack or other security breach.

Number of Cryptocurrencies

While Margex only supports 39 coins, Binance boasts an impressive 600+ coins. 

Even though Margex lags behind in terms of the number of supported currencies, it offers a good selection of the most popular coins, ensuring high liquidity at all times. 

Verdict - Binance

Margex is a good choice for users who value low fees and a great user experience. The platform offers excellent customer support and an interface that's easy to navigate with detailed trading guides. However, it's focus is on margin trading, and it only has 39 coins. There is no spot trading available on this exchange.

Binance is a better choice for users who are looking for more features and flexibility. With over 600 coins available to trade, low fees, advanced markets and charts, and crypto interest opportunities, Binance has everything that an experienced trader needs.

If you prefer to use Margex, take advantage of the excellent welcome offer of $100 FREE plus 15% bonus on your first deposit, when you sign up here.

Still Researching?

If you want to read more about these two crypto exchanges, read our detailed reviews of Margex (here) and Binance (here). If you are from the US, you won't be able to access either of these platforms, but you can take a look at the best crypto exchanges in the US. There is also a quick comparison table below that highlights some important facts.