11/13/2023 0 Comments Kraken fees vs binance usYou’d have to reach over $250,000 in 30-day trading volume to get to a 0.1% fee for maker orders, which is what Binance charges Regular Users. These users pay a 0.16% fee on maker orders, and a 0.26% fee on taker orders. Kraken’s initial fee tier applies to users with between $0 and $50,000 in 30-day trading volume. To see a full breakdown of Binance’s fee structure, please check out the exchange’s official website. For VIP account tiers, maker fees are lower than taker fees. There are a total of 9 VIP account tiers, with progressively lower trading fees. If you generate more than $1 million in trading volume over 30 days, your account is considered a VIP account. If you choose to pay the fees with BNB, you can cut down the fees to 0.075%. For this category of user, both the maker and taker fees are set at 0.1%. Typically, fees for maker orders are lower than taker orders because exchanges want to incentivize traders to provide more liquidity.īinance categorizes users with less than $1 million in 30-day volume as Regular Users. When you’re filling someone else’s order, for example when you submit a market order, that’s considered a taker order (although limit orders can be taker orders too). Simply put, maker orders are the orders that add liquidity to the market – orders that are added to the order book are considered maker orders. Both exchanges differentiate between “maker” orders and “taker” orders. Let’s first compare the two platforms in terms of their trading fee structures. The exchange also has a derivatives offering, as users can trade crypto futures on the Kraken Futures platform. Kraken lists a relatively large selection of cryptocurrencies, and also offers staking services for several Proof-of-Stake coins. The exchange supports 7 different fiat currencies, which makes it suitable as a gateway for making cryptocurrency purchases with fiat, or selling cryptocurrencies back into fiat currency. Kraken is one of the longest-standing cryptocurrency exchanges, as it has been offering crypto trading since 2013. Binance lists hundreds of different cryptocurrencies, and regularly adds new crypto assets to its platform. Binance now offers both spot and derivatives markets for trading cryptocurrencies, as well as passive income products like cryptocurrency lending and staking. One of Binance’s big innovations that helped it rise towards the top of the industry was BNB, a token that gives its holders special benefits when using the exchange – this includes reduced trading fees, access to exclusive token sales and more. It was launched in 2017 after raising capital through an initial coin offering (ICO). Both exchanges present a compelling suite of features, but ultimately cater to slightly different audiences.īinance is the most popular cryptocurrency exchange in the world, and regularly tops the trading volume charts. Today, we’ll be taking a look at Binance and Kraken, two exchanges that are at the very top of the crypto exchange industry. Thankfully, there is so much competition in the industry that exchanges have to deliver truly outstanding products and features to stand out from the rest. Choosing the right cryptocurrency exchange is a decision that practically every cryptocurrency investor will have to make at some point in their journey.
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