Revolut vs Binance: Crypto, Fees, KYC Exchanges Difference

In recent years, cryptocurrency trading has become so popular that many exchange traders have begun to devote part of their trading time to it. Large fluctuations in the price of cryptocurrencies provide traders with more opportunities to profit. In this article, we take a look at the Revolut vs Binance pairing to see where the best place to trade cryptocurrency.


Binance

REvolut

Type of exchange

Сentralized

Сentralized

Year founded

2017

 2015

Registration country

Cayman Islands

UK, London

Trust Score (Coingecko)

10

No score

Cryptocurrencies / trading pairs

1458

83

Trading types

Spot, Futures, Margin trading, P2P

Spot

Fees

0.1%

(0.075%  option for BNB holder)

2.5%

2FA

Yes

Yes

Mobile application

IOS, Android

IOS, Android

Daily trading volume on Spot market

$13 265 105 972

No data

Advantages and disadvantages of Revolut

Pros:

  • User-friendly
  • Great customer service
  • Take short, simple courses to learn the basics of crypto. Pass a quick quiz and earn free tokens, added directly to your balance
  • Professional and quality services

Cons:

  • The commission is too high

Revolut Review Summary 

84% Overall

We have analyzed key features of Revolut based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
89%
Trustworthy
84%
Usability
80%
Fees

Advantages and disadvantages of Binance

Pros:

  • Good reputation and high reliability
  • Bot for grid trading
  • Higher leverage (up to 100x)
  • Own BNB token
  • Mining pool and cloud mining
  • Own blockchain ecosystem

Cons:

  • KYC is required

Binance Review Summary 

92% Overall

We have analyzed key features of Binance based on 3 important criteria for choosing crypto exchange:

  • Trustworthy
  • Usability
  • Fees
    Based on researches and our own tests, we have made an independent rating.
92%
Trustworthy
95%
Usability
90%
Fees

About Revolut exchange

Revolut is a British financial technology company headquartered in London, United Kingdom, which offers banking services. Founded in 2015 by Nikolai Storonsky and Vlad Yatsenko

About Binance Exchange

Binance is the world's largest cryptocurrency exchange by trading volume and was founded in 2017 by its founder Changpeng Zhao. It is a global blockchain ecosystem and infrastructure provider for the crypto industry with a supportive team of experienced professionals.

Comparative analysis of Revolut and Binance exchanges

Available features

Both crypto-exchanges focus on cryptocurrency trading. 

Revolut offers: 

  • Automated cryptocurrency trading
  • A lot of training materials (including video lectures)

Binance offers:

  • Mining pool
  • IEO Launchpad
  • NFT market
  • Binance Academy

Available countries

Revolut 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 Revolut and Binance account with a bank card, PayPal or cryptocurrency.

Card Support

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

Available Cryptos and Tokens

Revolut currently supports 80+ trading pairs. 

Binance supports 357 trading pairs and 1466 coins.

Regulation

There is no information about the Revolut regulation and the corresponding license.

The most popular crypto exchange has changed jurisdictions several times during its existence, and there have been many rumors about it (Caymans, Malta, Singapore, Seychelles). The platform is actively recruiting regulatory staff and working towards licensing in major states.

At the moment, the legally independent Binance US platform for the US is fully legal. A list of licenses and regulators for each state is here.

Interface

The interface of the exchanges is quite convenient and clear. Any user can immediately understand all the functions. Do not worry, if you do not understand something, you can always see the training and tips.

Verification (KYC)

Revolut is a regulated banking application, so verification is required.

You cannot use Binance without KYC. In order to be verified, you must provide your documents.

Account deposit

Exchanges offer the following options for funding the account:

  • Crediting a fiat account with a card or payment system
  • Purchase from a card
  • Direct transfer of cryptocurrency to the exchange address

Comparison of Trading Fees

Revolut:

  • Cryptocurrency buy/sell commission 2.5% or 1.5%
  • Revolut commissions for buying/selling cryptocurrencies depending on account type

Binance:

  • Spot: 0.1% / 0.1% (maker/staker)
  • By default, the following option is set (can be disabled): if the balance has the required number of BNB tokens, they are automatically withdrawn and reduce the commission on a transaction by 25%
  • Also, the level of commissions depends on the user's level, which in turn is determined by his trading volume over the past 30 days and the amount of BNB in his account
  • All VIP statuses obtained in a regular account are retained for futures trading and continue to provide benefits

Account security

The majority of Revolut funds are held in cold storage with trusted custodians. Your private keys never touch the internet.

Binance offers users Two Factor Authentication (2FA), hardware key, email and phone confirmations, whitelisting for withdrawals, anti-phishing code, monitoring of devices used and account activity.

Passive earn on exchanges

Revolut does not boast any passive income tools. They are not available on this exchange.

Binance is a place where you can invest in many different ways, with features like dual investments, standard cryptocurrency deposits, Liquid Swap liquidity supply and so on. New tokens are also provided through Launchpad. 

Which to choose - Revolut or Binance

After comparing Revolut vs Binance, the choice is obvious. Binance is better by all indicators. Binance has significantly lower commissions and more investment opportunities.

Disclaimer:

Crypto 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 it OK to buy crypto on Revolut?

If you're considering buying cryptocurrencies on Revolut, there are a few things you should keep in mind. First and foremost, Revolut is a financial institution and not a cryptocurrency exchange. This means that when you buy cryptocurrencies on Revolut, you're essentially buying them from Revolut itself.

This isn't necessarily a bad thing, as Revolut is a reliable and reputable company. However, it's important to remember that you're not buying your crypto directly from the market. This means that the prices you'll pay for your crypto may be slightly higher than market rates.

Additionally, while Revolut does allow you to hold and trade multiple cryptocurrencies within its platform, it's worth noting.

Does crypto work with Revolut?

Cryptocurrencies like Bitcoin can be added to your Revolut account and used for transactions. However, at this time there is no support for directly buying or selling cryptocurrencies on the Revolut platform. You can, however, use your Revolut card to purchase goods or services with Bitcoin and other cryptocurrencies at merchants that accept them.


Is Binance the best option?

There are a lot of different options when it comes to choosing a cryptocurrency exchange, and Binance is definitely one of the better ones. Their platform is user-friendly and they offer a wide variety of coins and tokens to trade. They also have low fees and fast transaction speeds. Overall, Binance is a reliable and trustworthy exchange that would be a good choice for anyone looking to get started in the world of cryptocurrencies.


Is there anything better than Binance?

There are a number of excellent exchanges available, and it really depends on your needs. Binance is a great option for those who are looking for a user-friendly platform with a wide variety of features. However, if you are looking for greater security, you may want to consider Bitfinex or Coinbase. Whichever exchange you choose, be sure to do your research and compare the features offered by each before making your decision.

Conclusion

Cryptocurrencies are very addictive to many novice investors. The main thing is to choose a good exchange that suits you. Pay attention to the key indicators for you. With the right exchange, trading and investing will be comfortable. The choice is yours.

Disclaimer:

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.

Other Exchanges comparison

Jack Evans


I became a crypto asset owner in 2014, when the industry was in its infancy. Before that, I was working in the classic US and European stock markets. Since then, I have gained extensive experience in both cryptocurrency investing and day trading. I am happy to share with readers my experience with crypto exchanges, DeFi and NFT instruments.

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