MEXC vs Binance are two common cryptocurrency exchanges that supply merchants worldwide a variety of buying and selling choices, options, and providers. Each platforms additionally present aggressive instruments and functionalities.
MEXC supplies a extremely complete crypto buying and selling platform. The trade 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.
However, Binance is understood for its intensive options, deep liquidity, and large buying and selling quantity. This crypto trade 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 should not the one variations between MEXC and Binance. This MEXC vs. Binance evaluation will embody an entire 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
Not like Binance, which makes use of a tiered price construction by which the high-volume merchants can pay decrease charges, MEXC has low buying and selling charges even for low-volume merchants. The desk under supplies an entire overview of MEXC and Binance.
Since they’re each top-tier crypto exchanges with sure similarities, we summarized their options that will help you spot their variations simply.
Change MEXCBinance Based20182017HeadquartersVictoria, Seychelles.No international headquarters presently.Supported Cryptocurrencies 2800+400+Buying and selling ChargesLow charges (0.1% – 0%)Low charges. (0.1% – spot buying and selling) and 0.5% for fast purchase and promote.Liquidity ExcessiveVery Excessive Leverage 300X150XSafety 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 Optionally availableObligatory Person Expertise Quick order execution however is just not probably the most beginner-friendly.Newbie-friendly and superior instruments.Buying and selling pairs 3,000+1,300+P2P Buying and selling SureSureListed Digital Belongings 3,000+400+Buying and selling markets Margin, spot, and future buying and selling Futures, margin, choices, and spot buying and selling Accepted Cost Strategies Cryptocurrencies solelyCrypto, Direct Financial institution deposit, Debit/Credit score Card, Apple Pay, and Google Pay.Buying and selling QuantityUSD 6+ billion (Prime 10)USD 76 billion (World’s largest).
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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 price is crucial, as they affect your overal revenue. Let’s examine how these two exchanges construction their charges and what merchants ought to anticipate.
MEXC vs Binance: Deposit Charges
MEXC permits its customers to deposit most cryptocurrencies free of charge and doesn’t impose any limits on deposit quantities. Binance additionally doesn’t cost charges for cryptocurrency deposits. Nonetheless, charges for fiat deposits fluctuate primarily based on the cost technique and the fiat forex.
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MEXC vs Binance: Buying and selling Charges
MEXC presents aggressive buying and selling charges to its customers. The MEXC maker price is 0.00% for spot buying and selling, and the taker price is 0.20%. For futures buying and selling, MEXC prices a maker price of 0.00% and a taker price of 0.02%.
The crypto trade 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 most effective zero-fee crypto trade on account of its charges, which might be additional lowered primarily based in your buying and selling quantity and by holding the platform’s native token, MX.
Conversely, Binance makes use of a tiered price system primarily based on a dealer’s 30-day buying and selling quantity. If you happen to’re an everyday consumer with lower than $15 million in buying and selling quantity, you’ll pay a typical spot buying and selling price 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, if you’re buying and selling with BUSD, the maker price drops to 0.0180%, whereas the taker price is 0.0450%. In the meantime, Coin-M Futures merchants are charged a 0.0200% maker price and a 0.0500% taker price.
MEXC vs Binance: Withdrawal Charges
Withdrawal charges on each platforms fluctuate relying on the particular cryptocurrency you withdraw. For instance, MEXC prices 0.0003 BTC for Bitcoin withdrawals and 1 USDT for Tether (USDT) withdrawals.
Binance’s withdrawal charges are usually aggressive and rely upon the cryptocurrency and community used; as an example, the price for Bitcoin withdrawals is 0.0002 BTC.
It’s necessary to notice that withdrawal charges are topic to alter primarily based on the blockchain community and the community situations. So, confirm the present charges on the respective platforms earlier than initiating a withdrawal.
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MEXC vs Binance: What are Their Greatest 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 strong choice 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, similar to staking, financial savings, and liquidity farming.
MEXC vs Binance: What are Their Variety of Supported Cryptocurrencies?
MEXC and Binance are each common 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 possibly can commerce Bitcoin, the most well-liked altcoins, and a few newer altcoins, as Binance at all times provides new listings, particularly for promising initiatives.
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MEXC vs Binance: What are Their Safety Stage?
MEXC and Binance present robust security measures, however their safety measures differ. MEXC safety measures are listed under;
1. Common Safety Audits: MEXC conducts common safety audits via third-party cybersecurity corporations to test for safety dangers.
2. 2FA: MEXC encourages customers to arrange two-factor authentication. This safety function requires customers to offer two verification types earlier than accessing their accounts. This may 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 achieve entry to your account.
4. Chilly Pockets Storage: MEXC shops a big quantity of consumer funds in offline wallets (chilly wallets) somewhat than on-line wallets (sizzling wallets).
Binance safety measures are listed under;
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 trade. By setting a private Anti-Phishing code of their account. When you set it up, each e mail from Binance will carry that code. So, in case you obtain an e mail from Binance that doesn’t have the code, it’s seemingly 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 trade based in 2018. The trade is understood for its big selection of buying and selling choices and assist for brand 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 trade 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 present merchants extra alternatives to earn and develop their portfolios. Among 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 observe skilled merchants and robotically copy their strikes within the futures market. You’ll be able to observe the merchants primarily based on their ROI, win charge, and total efficiency.
3. MEXC Launchpad
MEXC handpicks high-potential initiatives, and customers who maintain a minimum of 2,000 MX tokens can simply earn free token airdrops. Suppose you maintain 1,000 MX tokens for 30 days. In that case, it’s also possible to take part in non-lockup occasions and get rewarded primarily based on the variety of tokens you commit.
4. MEXC Kickstarter
This is a pre-launch voting occasion the place you possibly can again new initiatives by voting. If a venture will get sufficient assist, everybody taking part will get free token airdrops. To hitch, you want a minimum of 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 possibly can earn rewards for buying and selling particular futures contracts. The extra you commerce, the extra lottery tickets you gather, rising 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 utilize as buying and selling margins.
MEXC presents much more options not mentioned on this article; you possibly can take a look at this MEXC evaluation article to study extra in regards to the trade.
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 consumer, you’ve an opportunity to obtain as much as 8,000 USDT in sign-up bonuses. If you happen to’re in search of the most effective crypto sign-up bonuses, MEXC is a high contender. Learn this MEXC referral code article to learn the way 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 trade by buying and selling quantity. It was based in 2017 by Changpeng Zhao (CZ) and shortly turned a go-to platform for brand new and skilled crypto merchants. Binance Change has over 300 tradable cash, together with common tokens, meme cash, GameFi, and AI cash.
One in every of the large perks of Binance is its low buying and selling charges; in case you use its BNB, you will 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 similar 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 change 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 functions.
2. Binance Referral Program: Binance has a referral program that encourages present customers to refer their associates, household, and group to hitch the platform in return for rewards and bonuses. The referral program is split into two arms: commonplace 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.
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3. NFT Market: Binance has a totally outfitted NFT market for merchants to browse, mint, promote, bid on, and buy NFTs from digital creators. Itemizing and looking are free, and you’ll find among 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 new and skilled merchants. It additionally presents a number of incomes alternatives, similar to staking and financial savings. On this complete Binance evaluation, we mentioned extra options that make Binance trade.
Downsides: Binance has confronted regulatory scrutiny in a number of international locations, and the obligatory KYC is a deal-breaker for merchants trying to commerce anonymously. Additionally, buying and selling on the trade may overwhelm new customers on account of intensive product choices.
