Discover this alternative to Binance =

Binance is one of the largest crypto exchanges in the world . The platform has millions of users and many are very fond of it, but not everyone.

For example, for some beginners, Binance can be very complicated. There are several reasons why some traders prefer not to use Binance. As a result, they look for good alternatives, but because of the many options it is sometimes difficult to pick the best option.

Each of these platforms has its advantages and disadvantages. It is therefore different for every trader which platform is best for them, since everyone has different advantages and interests. Nevertheless, we hope to show you one of the possibilities in this article.

Photo header: Anna Nekrashevich

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  • What is Binance?
    • The benefits of Binance
    • The cons of Binance
  • What is a good alternative to Binance?
    • The advantages of Bitvavo
    • The Disadvantages of Bitvavo
  • Which exchange is better: Binance or Bitvavo?
  • Conclusion

The video below from Coin Bureau explains exactly how Binance works in steps.

 

What is Binance?

Binance is a crypto exchange that was founded in 2017. In a short time, the platform has grown into one of the largest, if not the largest, crypto exchange.

More than 500 different tokens can be traded via Binance and this is probably one of the main reasons for the immense success of the platform. These tokens range from altcoins you may not have heard of to the most famous crypto coins, such as Bitcoin (BTC), Ethereum (ETH) or Dogecoin (DOGE). In addition, you can also purchase their own token via Binance, called Binance Coin (BNB). Owning this token brings many advantages to the platform and this token makes it possible, among other things, to trade in the smaller unknown altcoins.

In addition to the simpler buying and selling of cryptocurrencies on Binance, it is also a suitable platform for real traders. The platform also offers limit orders, market order and stop loss orders as options.

The benefits of Binance

At first glance, Binance sounds like a very suitable platform for crypto traders of all levels, but what advantages does the platform bring exactly? Let’s take a closer look at that now.

The first big advantage of Binance is of course the fact that you can trade in so many cryptos via the platform . This simply gives you many options and you can, for example, also play with smaller coins and even ICOs, if you feel the need.

The second big advantage of Binance is the extremely low transaction costs. The transaction costs at Binance are 0.1% . This means that you pay a fee of 0.1% per transaction you make on Binance, both purchase and sale. This is extremely low and you will not actually find it lower, at least not at the major exchanges.

Do you own Binance Coin? Then you also get a discount on these transaction costs . In the first year, this discount is 50%, so you pay transaction costs of 0.05%. These transaction costs decrease every year, but it is certainly a great advantage that you can save a lot of costs in the long term.

Another advantage of Binance is that the customer service is very good . Customer service generally responds very quickly and is always available. They also try to help you.

In addition, it is an advantage of Binance that the platform is very fast. The platform can handle a whopping 1.4 million transactions per second , more than any other platform. This is very nice, because you will never get into trouble when you want to buy or sell something.

The cons of Binance

The first downside to Binance is that the platform can look a bit complicated to some . It is not super clear, but when you are at home it is very conveniently arranged. However, are you not a super active trader and do you not want to invest too much time in learning a platform? Then you could choose to use a simple, user-friendly and well-arranged platform.

While Binance’s customer service is very good as mentioned before, it also has its drawbacks. For example , they can not be reached by telephone . You will always have to send them a message, and while this is not a big deal, calling is generally faster. In addition, Binance customer service is not available in Dutch . Perhaps English is not a problem for you, but if it is, you would probably do well not to choose Binance.

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What is a good alternative to Binance?

Overall, Binance is a very good platform, but it also has its drawbacks. For example, are you not very good at English? Then it is not surprising that you are looking for another platform.

But this search can be very difficult, because there are so many choices. We will now take a closer look at 1 of these choices, namely Bitvavo.

Bitvavo is a Dutch crypto exchange that was founded in 2018. Bitvavo’s goal is clear: to bridge the gap between traditional currencies and digital currencies. And they are already doing well with this. One of the advantages of Bitvavo is that it is so simple and that it is really accessible to everyone , but more about this later.

58 crypto coins can be traded on Bitvavo . There are therefore significantly fewer different tokens to trade via Bitvavo than via Binance. But there are other benefits that outweigh this.

The video below from us explains how to buy crypto at Bitvavo within 3 minutes.

 

The advantages of Bitvavo

One of these advantages is that Bitvavo uses a built-in wallet . When you are going to buy crypto at Bitvavo, you do not need to have a wallet. You can simply disturb your crypto in Bitavo itself. This of course lowers the threshold to get started with crypto, because you simply need less technical knowledge. This makes it ideal for beginners as well as experienced traders.

In addition, the costs on Bitvavo are very low . The transaction costs are 0.25% per transaction. Although the transaction costs at Bitvavo are higher than at Binance, this is still very low. This makes Bitvavo even the cheapest crypto exchange in the Netherlands .

Another huge advantage of Bitvavo is the aforementioned simplicity of the platform. The platform is super clear and really can be used by everyone. When you end up on the platform, everything is actually self-explanatory and you will quickly master the platform.

Bitvavo ‘s customer service is also very good . They respond very quickly, both via live chat and via email. They do their best to help you, but unfortunately you can’t call Bitvavo either. However, Bitvavo’s customer service is available in Dutch . Somewhat logical, because it is a Dutch exchange, but for some people this is very important.

Another advantage of Bitvavo is that the platform is very well secured. First, the platform for your account uses a 2FA. This is a two-step verification and it makes it a lot harder for outsiders to break into your account . In addition, the account is linked to an IP address, so if you try to log in from a different IP address, you will first receive an email. Only after confirmation via this email you can log in via the other IP address. Another security advantage of Bitvavo is that the cryptocurrencies are stored in a cold wallet. This is an offline wallet, similar to a hardware wallet. These are not connected to the internet and can therefore be hacked a lot more difficult.

The Disadvantages of Bitvavo

The Bitvavo exchange therefore brings many advantages. Of course, however, the platform also has drawbacks.

One of these is that the number of different crypto coins that can be traded via the platform is fairly limited . There are 58 of them. That is not very few, but considerably less than on Binance, for example. For the small, somewhat less active trader, this does not necessarily have to be a problem, since there is a good chance that this trader will stick to the major well-known coins. For a real trader it can be a disadvantage, because he simply has a smaller range to choose from.

Another disadvantage, as with Binance, is that customer service is not available by phone . You can only email them or send them questions via the live chat. For general questions or problems, this isn’t too bad, but should you find yourself in a critical situation where it is extremely important that you act quickly, it can be important to have customer service available to help you immediately.

Bitvavo’s website (Bitvavo.com)

Which exchange is better: Binance or Bitvavo?

So, which exchange should you choose? That is different for everyone . One person finds one factor very important and the other finds another property very important.

Are you good at English? Then Binance could be a good option for you. But do you find it very difficult to find your way in a new program? Then you may be inclined to Bitvavo again.

Do you find a large assortment and very low costs very important? Or would you rather opt for a simpler platform with somewhat fewer options, but where you can trade crypto under good guidance? These are all considerations that you have to make when choosing a platform on which to trade cryptocurrencies.

In addition, Binance and Bitvavo are of course not the only exchanges. For example, you also have Coinmerce, Bitcoin Meester and LiteBit. Of course, these exchanges all have their advantages and disadvantages.

There is no single answer to the question of what the best alternative to Binance is. And maybe you don’t need an alternative to Binance at all, because Binance works great for you. Everything is possible. In any case, what is always important is a good research before you invest in something . So also do your research about the different exchanges and know which exchange you ‘go into business’ with.

Conclusion

So what is a good alternative to Binance? Bitvavo is a good alternative to Binance . It is of course not the only alternative, and perhaps not necessarily the best for you. Everyone has different preferences with a platform and therefore make your own choices.

Bitvavo has low trading costs . Although the transaction costs on the platform are higher than those of Binance, Bitvavo has the lowest trading costs in the Netherlands. They are therefore cheaper than, for example, Coinmerce or Bitcoin Meester.

In addition, Bitvavo has a very simple interface . The exchange is easy to understand, even for beginners. So it is an ideal platform for people who are new to the crypto world as they will understand everything in no time.

The customer service is also very good at Bitvavo and you are well guided if you need it. This is very nice for beginners, just like the fact that Bitvavo, if you need it, works with a built-in wallet. This ensures that you do not have to have a wallet yourself and this lowers the threshold to start with crypto.

The relatively small range of crypto coins can be seen by many as a disadvantage , and it certainly can be. However, if you were planning to stick to the more famous and larger coins such as Bitcoin or Ethereum, this should not be a problem for you at all.

All in all, Bitvavo is a great alternative to Binance , but it is certainly not the only alternative and may not be the best for you. It is therefore extremely important that you do your own research properly before choosing a platform.

Do you want to know more about Binance or Bitvavo? Or do you have other questions about exchanges and how they work exactly? Join our EverythingAboutCrypto Facebook group! We like to talk about everything related to crypto and the blockchain and share valuable information with you. Hopefully we’ll see you there!

 

 

 

 

 

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