Bitpanda vs Binance: Crypto, Fees, Features Difference

Continuing our series of comparisons of popular crypto exchanges, we will look at the pair Bitpanda vs Binance - two worthy platforms, each of which has its pros and cons.

Most users by default choose Binance as the leader of all the tops and ratings, but it is worth considering other options to have the most complete picture of what is happening in the cryptocurrency industry. Bitpanda is a quality site, though less well-known.

Advantages and disadvantages of Binance

About Bitpanda exchange

Bitpanda is an Austrian cryptocurrency exchange specializing in buying and selling bitcoins and other cryptocurrencies. Bitpanda.com is a fully automated platform: as soon as payment is confirmed, bitcoins and other cryptocurrencies are automatically sent to buyers. Bitpanda (formerly known as Coinimal) is a cryptocurrency startup from Vienna.

About Binance Exchange

The cryptocurrency exchange Binance is on everyone's lips - this platform has strikingly developed in just a few years of existence (since 2017) and quickly surpassed even those who at that time worked for 4-5 years. The BNB token played an important role. Its tokenseal helped get funding, and early investors earned multiple profits - today the asset is one of the top 10 most capitalized cryptocurrencies.

Binance offers users almost all types of trading relevant in the crypto industry - spot, USDT-M and COIN-M futures, p2p, leveraged tokens, swaps, OTC. Commissions on the platform are quite low, you can save on them by paying 25% of the fees in BNB. It is possible to trade NFTs and mint your own. As part of the cooperation with various sports teams there is a platform of fan-tokens.

Comparative analysis of Bitpanda and Binance exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

Bitpanda offers: 

Binance offers:

Available countries

Bitpanda and Binance exchanges are available in more than 100 countries. These exchanges do not provide trading services in sanctioned countries. 

Payment methods

You can fund your Bitpanda and Binance account with a bank card, PayPal or cryptocurrency.

Card Support

All types of bank cards from supported countries are available on Bitpanda and Binance.

Available Cryptos and Tokens

Bitpanda currently supports 57 trading pairs and 34 coins. 

While Binance supports 1466 trading pairs and 357 coins. 

Verification (KYC)

For security purposes, Bitpanda verifies identity before giving you unique logins to withdraw or deposit on the site. This is understandable, as Bitpanda's regulation is transparent.

Confirmation of personal information on Binance Crypto Exchange is required for any transactions with cryptocurrencies or fiat. You should also know that the verification process at Binance must be completed within 15 minutes. It is not allowed to refresh the page, restart or disconnect the Internet. There are 3 attempts daily to do everything without difficulty.

Account deposit

Exchanges offer the following options for funding the account:

Comparison of Trading Fees

Bitpanda:

Binance:

Account security

The data you share with Bitpanda is shared with several third parties for verification and marketing purposes. However, Bitpanda implements several security measures to keep your data safe. All data transferred from your computer to Bitpanda is encrypted using SSL technology. You can enable two-factor authentication right after registration. The systems used by Bitpanda are fully encrypted. Personal data is anonymized and pseudonymized. Logging into offices, as well as access and management of systems, is restricted. Backups and other methods of quick recovery of personal data are used. In the event of a physical or technical incident, your data remains secure. Preventing enumeration and other design details keeps your data safe. The effectiveness of the technical and organizational parts of the security measures are constantly reviewed and evaluated. Bug Bounty helps to ensure maximum security.

Security at Binance is ensured through: Two-factor authentication, Password, Phone and mail binding, Output address whitelisting, Binding hardware key. Control of IP addresses and devices used for logging, Anti-phishing code.

Passive earn on exchanges

Bitpanda create your commission-free savings plan for any of the 7 crypto indices, including DeFi, Infrastructure and Media & Entertainment. No more buying commissions, no more reminders, just simple, automated investments.

The Binance Earn platform is known for its wide range of investment plans and tools for crypto owners. It includes bicurrency investments, fixed and flexible deposits, stacking, pharming, IEO. Periodically updated with new features as the crypto market develops and new trends emerge.

Which to choose - Bitpanda or Binance

Binance's leading position on the cryptocurrency market can easily be explained by the large number of opportunities and benefits the company offers its clients. It is advisable for beginners to start there, as there are a lot of supporting tools, tips and training for novice users. Binance completely wins over Bitpanda by all indicators.

Disclaimer:

NFTs trading entails a high level of risk and is not suited for all investors. You should carefully evaluate your investment objectives, degree of experience, and risk appetite before deciding to trade cryptocurrencies. You should not invest money that you cannot afford to lose because there is a chance that you will lose some or all of your initial investment.

You should be aware of all the dangers connected with cryptocurrency trading and seek counsel from a financial expert who is not affiliated with any cryptocurrency exchange. This website's opinions, news, research, analysis, pricing, and other information are offered as general market commentary and do not represent investment advice.

FAQs

Is Bitpanda a good trading platform?

Yes, Bitpanda has long-established itself as an excellent trading platform.

Is Bitpanda reliable?

Yes, Bitpanda is a reliable exchange. It's been in operation since 2019 and has built up a solid reputation in the crypto community. The site has a user-friendly interface and allows you to buy and sell cryptocurrencies with ease. Overall, Bitpanda is a great choice for those looking to get into the world of digital currencies.

Are Bitpanda fees high?

Bitpanda fees are 0.05% - 0.15%, which is lower than most other cryptocurrency exchanges. For example, Coinbase charges a fee of 1.49% for all card transactions.
Bitpanda has a very simple fee structure: we charge a flat percentage on each transaction, regardless of the amount traded. This means that you always know exactly how much you will pay in fees, and there are no hidden costs.
We believe that this approach is fairer for everyone involved in the market: buyers and sellers alike. Our hope is that by keeping our fees low, we can encourage more people to engage in the digital currency economy.

What is safer than Binance?

Binance is the most reliable exchange available, but it's not without risk. 
Some other exchanges that are considered safe include Bitfinex, Kraken, Coinbase, Bitpanda. These exchanges are all more reliable than many of the smaller, lesser-known exchanges. However, it's still important to do your own research before trusting any exchange with your money.

Why is Binance not good?

Binance is frequently criticized for its high fees. While it's true that Binance charges higher fees than some other exchanges, there are also a few reasons why this might not be such a bad thing.
For one, the higher fees help to offset the costs of running a large exchange. Binance is one of the biggest cryptocurrency exchanges in the world, and it takes significant resources to maintain such a platform. The higher fees also help to encourage users to trade actively on the platform, which adds to its overall liquidity.
Another potential benefit of Binance's high fees is that they may actually help to discourage market manipulation.

Conclusion

To summarize, in the confrontation between Binance and MEXC, both exchanges deserve attention, but have their own nuances. It should be noted that commissions on MEXC are slightly higher. Binance has many advantages and nice additional features. If you have a chance, we recommend to register on both platforms and try them yourself - only this way you can get real impressions and determine which cryptocurrency is more convenient and preferable for you personally. We also advise you to consider other crypto exchanges, many of which we reviewed on our website.