MEXC vs Binance are two in style cryptocurrency exchanges that provide merchants worldwide a variety of buying and selling choices, options, and companies. Each platforms additionally present aggressive instruments and functionalities.
MEXC supplies a extremely complete crypto buying and selling platform. The change helps over 2,800 cryptocurrencies and permits customers to commerce anonymously with out KYC verification. MEXC presents the bottom charges (typically as little as 0%) for spot and futures buying and selling.
Alternatively, Binance is thought for its intensive options, deep liquidity, and large buying and selling quantity. This crypto change presents crypto loans and even a crypto debit card. It helps over 1,300 buying and selling pairs and supplies many options, together with spot, margin, futures buying and selling, staking, and incomes alternatives.
Nonetheless, these are usually not the one variations between MEXC and Binance. This MEXC vs. Binance assessment will embody a whole overview, what are the charges of MEXC and Binance? What are their finest buying and selling options?
As well as, we are going to cowl what are the variety of supported cryptocurrencies on MEXC and Binance? What are their safety ranges? Whereas highlighting, who ought to choose MEXC over Binance? And who ought to choose Binance over MEXC? Let’s get began!
MEXC vs Binance: A Full Overview
In contrast to Binance, which makes use of a tiered charge construction during which the high-volume merchants can pay decrease charges, MEXC has low buying and selling charges even for low-volume merchants. The desk beneath supplies a whole overview of MEXC and Binance.
Since they’re each top-tier crypto exchanges with sure similarities, we summarized their options that can assist you spot their variations simply.
| Alternate | MEXC | Binance |
| Based | 2018 | 2017 |
| Headquarters | Victoria, Seychelles. | No world headquarters at present. |
| Supported Cryptocurrencies | 2800+ | 400+ |
| Buying and selling Charges | Low charges (0.1% – 0%) | Low charges. (0.1% – spot buying and selling) and 0.5% for immediate purchase and promote. |
| Liquidity | Excessive | Very Excessive |
| Leverage | 300X | 150X |
| Safety | Two issue authentication (2FA), chilly storage for crypto, common safety audits, futures insurance coverage fund, and tackle whitelisting. | Insurance coverage fund, two issue authentication, tackle whitelisting, and chilly storage of crypto. |
| KYC Necessities | Elective | Necessary |
| Person Expertise | Quick order execution however just isn’t essentially the most beginner-friendly. | Newbie-friendly and superior instruments. |
| Buying and selling pairs | 3,000+ | 1,300+ |
| P2P Buying and selling | Sure | Sure |
| Listed Digital Property | 3,000+ | 400+ |
| Buying and selling markets | Margin, spot, and future buying and selling | Futures, margin, choices, and spot buying and selling |
| Accepted Fee Strategies | Cryptocurrencies solely | Crypto, Direct Financial institution deposit, Debit/Credit score Card, Apple Pay, and Google Pay. |
| Buying and selling Quantity | USD 6+ billion (High 10) | USD 76 billion (World’s largest). |
Maximize your earnings! Join on MEXC utilizing our referral and save 10% on charges whereas unlocking superb bonus rewards
What are the Charges of MEXC and Binance?
On this part, we’ll discover the charges related to crypto buying and selling on MEXC and Binance, together with buying and selling charges, withdrawal charges, and deposit charges. Understanding these charge is important, as they influence your overal revenue. Let’s evaluate how these two exchanges construction their charges and what merchants ought to count on.
MEXC vs Binance: Deposit Charges
MEXC permits its customers to deposit most cryptocurrencies without cost and doesn’t impose any limits on deposit quantities. Binance additionally doesn’t cost charges for cryptocurrency deposits. Nonetheless, charges for fiat deposits differ based mostly on the cost methodology and the fiat foreign money.
Be part of Binance in the present day and revel in a $100 charge rebate, everlasting 10% buying and selling charge low cost, and unique perks!
MEXC vs Binance: Buying and selling Charges
MEXC presents aggressive buying and selling charges to its customers. The MEXC maker charge is 0.00% for spot buying and selling, and the taker charge is 0.20%. For futures buying and selling, MEXC fees a maker charge of 0.00% and a taker charge of 0.02%.
The crypto change additionally has “particular buying and selling pairs.” These are pairs that futures and spot merchants can commerce at 0% maker and taker charges. MEXC is the very best zero-fee crypto change because of its charges, which might be additional diminished based mostly in your buying and selling quantity and by holding the platform’s native token, MX.
Conversely, Binance makes use of a tiered charge system based mostly on a dealer’s 30-day buying and selling quantity. If you happen to’re an everyday person with lower than $15 million in buying and selling quantity, you’ll pay a regular spot buying and selling charge of 0.10% for each makers and takers.
For futures buying and selling, the charges begin at 0.02% for makers and 0.04% for takers. The platform presents customers a 25% low cost on buying and selling charges by paying with Binance’s native token, BNB, and additional reductions can be found for high-volume merchants.
The charges for Binance USD-M Futures are 0.0200% for makers and 0.0500% for takers when utilizing USDT. Nonetheless, in case you are buying and selling with BUSD, the maker charge drops to 0.0180%, whereas the taker charge is 0.0450%. In the meantime, Coin-M Futures merchants are charged a 0.0200% maker charge and a 0.0500% taker charge.
MEXC vs Binance: Withdrawal Charges
Withdrawal charges on each platforms differ relying on the precise cryptocurrency you withdraw. For instance, MEXC fees 0.0003 BTC for Bitcoin withdrawals and 1 USDT for Tether (USDT) withdrawals.
Binance’s withdrawal charges are typically aggressive and depend upon the cryptocurrency and community used; for example, the charge for Bitcoin withdrawals is 0.0002 BTC.
It’s vital to notice that withdrawal charges are topic to alter based mostly on the blockchain community and the community circumstances. So, confirm the present charges on the respective platforms earlier than initiating a withdrawal.
Your buying and selling journey begins right here! Register on MEXC now and seize unique rewards as much as $1,000, plus a ten% charge low cost!
MEXC vs Binance: What are Their Finest Buying and selling Options?
MEXC’s finest options are its deep liquidity for altcoins, low buying and selling charges, MEXC Launchpad and Kickstarter, MEXC Futures M-Day, copy buying and selling, and a stable number of futures buying and selling choices, together with leveraged ETFs.
The most effective options of Binance are the Binance web3 pockets, NFT market, excessive liquidity, BNB vault, superior charting instruments, and Binance Launchpad and Launchpool. It additionally presents a number of incomes methods, equivalent to staking, financial savings, and liquidity farming.
MEXC vs Binance: What are Their Variety of Supported Cryptocurrencies?
MEXC and Binance are each in style cryptocurrency exchanges, however they differ within the variety of belongings they assist. MEXC helps greater than 2,800 cryptocurrencies, together with lesser-known altcoins. It additionally has round 3,696 buying and selling pairs, giving customers a variety of choices.
Binance, however, helps greater than 400 cryptocurrencies, with about 1,395 spot buying and selling pairs obtainable. Fortunately, you may commerce Bitcoin, the most well-liked altcoins, and a few newer altcoins, as Binance at all times provides new listings, particularly for promising initiatives.
Begin buying and selling on Binance now and revel in a $100 rebate, a ten% lifetime charge low cost, and unique advantages!
MEXC vs Binance: What are Their Safety Degree?
MEXC and Binance present sturdy security measures, however their safety measures differ. MEXC safety measures are listed beneath;
1. Common Safety Audits: MEXC conducts common safety audits by third-party cybersecurity companies to test for safety dangers.
2. 2FA: MEXC encourages customers to arrange two-factor authentication. This safety function requires customers to offer two verification varieties earlier than accessing their accounts. This might help MEXC customers stop unauthorized entry to their accounts even when somebody steals their passwords.
3. Withdrawal Whitelist: You’ll be able to add a number of pockets addresses to the whitelist and withdraw funds to solely pre-approved pockets addresses. This safety function prevents hackers from transferring funds to any pockets tackle not listed, even when they acquire entry to your account.
4. Chilly Pockets Storage: MEXC shops a big quantity of person funds in offline wallets (chilly wallets) slightly than on-line wallets (sizzling wallets).
Binance safety measures are listed beneath;
Binance additionally makes use of chilly pockets, two-factor authentication, and withdrawal whitelist to guard customers’ funds from hackers. Additionally they implement different safety measures like:
1. Anti-Phishing Codes: This helps customers acknowledge official emails from the change. By setting a private Anti-Phishing code of their account. When you set it up, each electronic mail from Binance will carry that code. So, in case you obtain an electronic mail from Binance that doesn’t have the code, it’s doubtless a phishing try.
2. Safe Asset Fund for Customers (SAFU): Binance has put aside a reserve fund to compensate customers in case of safety breaches. To fund the reserve, Binance allocates 10% of its buying and selling charges to the SAFU fund, so if a hack happens, Binance will reimburse affected customers.
Who Ought to Choose MEXC over Binance?
MEXC is appropriate for Merchants who prioritize entry to new or low-cap tokens, no-KYC buying and selling, and decrease charges.
MEXC in a Nutshell
MEXC is a cryptocurrency change based in 2018. The change is thought for its big selection of buying and selling choices and assist for brand spanking new and smaller altcoins. Whether or not you’re into spot buying and selling, futures, or margin buying and selling, MEXC has one thing for you.
MEXC presents its customers MEXC Financial savings, the place they’ll earn rewards by locking up their crypto belongings or taking part in yield farming. The change has intensive options, however a user-friendly interface accompanies it.
Key Options of MEXC
MEXC stands out as one of many crypto exchanges with nice options designed to provide merchants extra alternatives to earn and develop their portfolios. A number of the finest options embody Spot buying and selling & Copy buying and selling, Futures M-Day, Launchpad, and Kickstarter.
1. Spot Buying and selling on MEXC
MEXC makes spot buying and selling less complicated and environment friendly by providing excessive liquidity and quick order execution. Most buying and selling pairs are pegged to USDT, and the platform’s superior dashboard provides you real-time insights into buying and selling volumes.
2. Copy Buying and selling on MEXC
If you’re new to buying and selling, MEXC’s Copy Buying and selling function means that you can comply with skilled merchants and routinely copy their strikes within the futures market. You’ll be able to comply with the merchants based mostly on their ROI, win charge, and general efficiency.
3. MEXC Launchpad
MEXC handpicks high-potential initiatives, and customers who maintain not less than 2,000 MX tokens can simply earn free token airdrops. Suppose you maintain 1,000 MX tokens for 30 days. In that case, you may also take part in non-lockup occasions and get rewarded based mostly on the variety of tokens you commit.
4. MEXC Kickstarter
This is a pre-launch voting occasion the place you may again new initiatives by voting. If a challenge will get sufficient assist, everybody taking part will get free token airdrops. To affix, you want not less than 500 MX tokens in your pockets 24 hours earlier than the occasion begins.
5. MEXC Futures M-Day
MEXC Futures M-Day is a particular occasion the place you may earn rewards for buying and selling particular futures contracts. The extra you commerce, the extra lottery tickets you acquire, growing your possibilities of successful free airdrops. Even in case you don’t win, taking part earns you free raffle tickets and futures bonuses, which you should use as buying and selling margins.
MEXC presents much more options not mentioned on this article; you may take a look at this MEXC assessment article to be taught extra concerning the change.
Upsides & Downsides of MEXC
Upside: MEXC presents a variety of cryptocurrencies with low buying and selling charges and excessive liquidity. You’ll be able to commerce on MEXC with out KYC verification, and as a brand new person, you may have an opportunity to obtain as much as 8,000 USDT in sign-up bonuses. If you happen to’re in search of the finest crypto sign-up bonuses, MEXC is a prime contender. Learn this MEXC referral code article to learn how to qualify for this unique reward.
Draw back: MEXC has restricted fiat assist, rules across the platform are shaky, and buyer assist might be gradual typically.
Who Ought to Choose Binance over MEXC?
Skilled merchants, institutional traders, and customers who prioritize excessive liquidity, regulatory compliance, and straightforward fiat transactions ought to choose Binance over MEXC.
Binance in a Nutshell
Binance is the world’s largest and hottest cryptocurrency change by buying and selling quantity. It was based in 2017 by Changpeng Zhao (CZ) and rapidly turned a go-to platform for brand spanking new and skilled crypto merchants. Binance Alternate has over 300 tradable cash, together with in style tokens, meme cash, GameFi, and AI cash.
One among the large perks of Binance is its low buying and selling charges; in case you use its BNB, you may get much more reductions. The platform additionally helps many and completely different buying and selling strategies like spot, margin, and peer-to-peer, together with numerous order sorts equivalent to restrict, market, and stop-limit orders.
Key Options of Binance
1. Binance Web3 Pockets: Binance has a built-in Web3 pockets that lets customers simply swap to and discover the Web3 ecosystem and decentralized finance (DeFi). The Web3 pockets is a gateway for Binance merchants to execute cross-chain token swaps, take part in unique airdrop campaigns, and discover numerous decentralized purposes.
2. Binance Referral Program: Binance has a referral program that encourages present customers to refer their buddies, household, and neighborhood to hitch the platform in return for rewards and bonuses. The referral program is split into two arms: customary and lite. The primary provides you 20% lifetime reductions on buying and selling charges, whereas the second presents 100 USDT buying and selling credit score.
Whenever you use our Binance referral code to register a brand new account, you’ll stand up to $100 price of items, lifetime reductions on buying and selling charges, and different unique rewards you’d miss in case you created a brand new account with out utilizing the particular code, you would possibly miss out on unique rewards!
3. NFT Market: Binance has a completely geared up NFT market for merchants to browse, mint, promote, bid on, and buy NFTs from digital creators. Itemizing and searching are free, and you could find a number of the hottest NFT collections, like Golden Ape Membership and BULL BTC CLUB.
Upsides & Downsides of Binance
Upsides: Binance has low buying and selling charges and supplies fundamental and superior buying and selling options for brand spanking new and skilled merchants. It additionally presents a number of incomes alternatives, equivalent to staking and financial savings. On this complete Binance assessment, we mentioned extra options that make Binance a very good change.
Downsides: Binance has confronted regulatory scrutiny in a number of international locations, and the necessary KYC is a deal-breaker for merchants trying to commerce anonymously. Additionally, buying and selling on the change would possibly overwhelm new customers because of intensive product choices.
