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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Update Nov. 11, 2022: FTX, the parent company of FTX.US, has filed for Chapter 11 bankruptcy as of Nov. 11, 2022. According to the company (as of Nov. 10), account withdrawals from FTX.US are still live, but trading may be halted in a few days, so the company advises clients to close any positions that they intend to close. FTX.US and Binance.US are two well-known exchanges that both do a solid job for traders. You may be familiar with because of its high-profile endorsers such as pro football legend Tom Brady and all-star basketball player Stephen Curry. While these celebrity endorsements help increase awareness of FTX, they don’t do anything for their customers. There are some key differences between FTX and – which we’ll use to refer to the U.S. operations of the companies – so be sure to consider what matters most to you before deciding on an exchange. Here are the biggest variables to consider. FTX vs Binance Cost
Trading costs can be significant at and the fees can really add up for active traders. Discounts are typically offered based on your 30-day trading volume. FTX and Binance both use a maker-taker pricing structure, which charges based on whether your order adds liquidity to the market (maker) or removes liquidity from the market (taker). Here’s how each exchange breaks down on its fees: Binance trading fees 30-day volume Maker Taker Less than $50,000 0.10 percent 0.10 percent $50,000 – $100,000 0.09 percent 0.09 percent $100,000 – $500,000 0.08 percent 0.09 percent $500,000 – $1 million 0.07 percent 0.08 percent $1 million – $5 million 0.05 percent 0.07 percent $5 million – $10 million 0.04 percent 0.06 percent $10 million – $25 million 0 percent 0.06 percent $25 million – $100 million 0 percent 0.05 percent $100 million – $250 million 0 percent 0.04 percent $250 million – $500 million 0 percent 0.03 percent $500 million and up 0 percent 0.02 percent FTX trading fees 30-day volume (USD) Maker Taker $0 – $100,000 0.10 percent 0.20 percent $100,000 – $500,000 0.08 percent 0.18 percent $500,000 – $1 million 0.06 percent 0.18 percent $1 million – $5 million 0.05 percent 0.15 percent $5 million – $10 million 0.04 percent 0.10 percent $10 million – $15 million 0.03 percent 0.08 percent $15 million – $30 million 0.02 percent 0.07 percent $30 million – $50 million 0.01 percent 0.06 percent $50 million or more 0.00 percent 0.05 percent While FTX’s fees are pretty attractive compared to some others in the industry, Binance has the advantage here, particularly on taker fees. Plus, if you use BNB, Binance’s in-house coin, to pay trading fees, you’ll get a discount of 25 percent. Here’s how it works: If you’ve executed $25,000 in trades over the previous 30 days and are looking to place a new $10,000 trade, FTX will charge you 0.10 percent ($10) for a maker order or 0.20 percent ($20) for a taker order. Binance will charge 0.10 percent ($10) for either order type and will reduce the fee to $7.50 if you pay with BNB. FTX does become competitive with the fees at Binance if you’re doing about $50 million in average 30-day volume, but for those with more typical trading volumes, Binance has the edge. Advantage: Binance FTX vs Binance Supported cryptocurrencies
Binance also has the advantage in the number of different cryptocurrencies that are available to trade on the exchange. Binance offers more than 100, while FTX has more than 20. If you’re just looking for the most popular coins such as and , either exchange will be able to meet your needs. If you’re looking to trade some of the more exotic coins, however, Binance will probably be a better choice, or you may want to look at another exchange such as , which offers more than 150 coins to trade. Advantage: Binance FTX vs Binance Staking rewards
In terms of , Binance is the winner by default because FTX does not offer staking on its platform. Staking rewards give crypto investors the chance to earn income for supporting a coin as part of the verification process. Exchanges deposit any income you’ve earned into your account after subtracting fees. Binance offers staking on seven coins and does not charge staking fees. If staking is important to you, you might also consider using as an exchange, which offers staking on 13 coins with plans to add more in the future. Advantage: Binance FTX vs Binance Deposit and withdrawal fees
When it comes to deposit and withdrawal fees, Binance takes the cake because of its more straightforward structure. Binance doesn’t charge deposit or withdrawal fees on ACH transfers in U.S. dollars or on wire transfer deposits. You will pay a $15 fee on domestic wire withdrawals. FTX charges a standard fee of $0.50 per ACH deposit, but has a few exceptions: One ACH deposit over $10 per week is free. Your first ACH deposit is free. Deposits over $100 are free. For wire withdrawals, FTX allows you to withdraw less than $5,000 once per rolling week period for free. Additional withdrawals below that amount will cost you $25. Withdrawals above $5,000 are free and there’s no fee for wire deposits. Advantage: Binance FTX vs Binance Customer support
Crypto exchanges are generally lacking in the way of customer service, which is disappointing considering their growth in recent years. Binance customers will only be able to submit support tickets when they have questions and problems. There is no phone, email or chat support. FTX isn’t much better, but you will have a chat option in addition to support tickets and a decent FAQ page on their website. Advantage: FTX Bottom line
Binance has the advantage in nearly every area and is a leader in cost, one of the most important factors for crypto traders. Low trading costs helped Binance win Bankrate’s award for the . FTX isn’t too far behind in most areas, however, so it can be a solid choice as well. They have a slight advantage in customer service, but they’re lacking in the number of coins available and don’t offer staking rewards. In the end, you’ll need to decide what factors matter most to you and then decide which crypto exchange best meets your needs. Update Nov. 11, 2022: FTX, the parent company of FTX.US, has filed for Chapter 11 bankruptcy as of Nov. 11, 2022. According to the company (as of Nov. 10), account withdrawals from FTX.US are still live, but trading may be halted in a few days, so the company advises clients to close any positions that they intend to close. Editorial Disclaimer: All investors are advised to conduct their own independent research into investment strategies before making an investment decision. In addition, investors are advised that past investment product performance is no guarantee of future price appreciation. SHARE: Bankrate reporter Brian Baker covers investing and retirement. He has previous experience as an industry analyst at an investment firm. Baker is passionate about helping people make sense of complicated financial topics so that they can plan for their financial futures. Brian Beers is the managing editor for the Wealth team at Bankrate. He oversees editorial coverage of banking, investing, the economy and all things money. Related Articles