BYDFI vs Binance vs Bittrex

Still, puzzled about which trading platform to choose? In this BYDFI vs Binance vs Bittrex, we will be making a small comparison between these three very well-known crypto trading platforms. 

Summary What is BYDFI?

BYDFI has been a part of the crypto industry for many years now and has an extensive range of crypto trading pairs. The platform has been running since 2014 and boasts many products and features. BYDFI platform is based in Singapore, and it has more than 500,000 users in over 150 countries. 

BYDFI BYDFI What is Binance?

Binance is the world’s leading and well-known cryptocurrency exchange which Changpeng Zao founded in the year 2017. The exchange currently has its headquarters in Malta but was initially situated in China.

However, it was moved from China because of its strict cryptocurrency laws. Moreover, since the time of its development, it has been experiencing astounding success.

Furthermore, it is a one-stop shop for buying and selling crypto, crypto loans, liquid swap, cryptocurrency trading, earning interest, and many more. 

BINANCE Binance What is Bittrex?

Bittrex provides its customers with a protected and safe environment, and the platform was initially situated in Seattle, United States. This digital currency exchange allows all the traders to trade over 730+ unique cryptocurrencies.

The founders of this platform that was launched in 2014 are Ryan Hentz, Rami Kawach, Richie Lei, and Bill Shihara. All the owners have considerable safeguarding experience in top companies such as Blackberry, Amazon, and Microsoft.

Moreover, the Bittrex exchange is ranked among the top ten exchange platforms globally, taking into consideration the number of available markets. Furthermore, Bittrex Global provides various traits such as spot trading and limit trading, trading fees, and liquidity pool. 

BITTREX Bittrex Features: BYDFI vs Binance vs Bittrex BYDFI

• BYDFI focuses on the primary motive of bringing forth a simplified trading experience. 
• The platform has much easier tools than all the other brokers, and its distinct contract capabilities allow traders to place trades without worrying. 
• The traders can simply register themselves on the platform in about 30 seconds by using an email address or a mobile phone number. 
• The user interface and mobile apps of BYDFI are designed explicitly for its traders. 
• Moreover, the BYDFI platform has been translated into eight different languages, which makes it more accessible for traders.   

BYDFI Features Binance

• Binance Convert allows traders to convert one cryptocurrency into the other in just a few seconds. 
• Binance Classic is a traditional and standard platform that provides all traders with access to charts. 
• The Binance platform has an easy-to-use interface and is very simple. It allows traders to trade with limit orders, market orders, stop limits, and OCOs. 
• The platform also provides Binance Advanced, which lets the advanced traders view more detailed statistics. 
• There is also Binance margin trading that allows the traders to borrow funds in order to perform leverage trading. This feature supports Cross Margin Mode and Isolated Margin Mode. 
• The Binance Earn feature allows traders to lend their funds, deposit their funds to a DeFi service, and stake their PoS(Proof of Service) coins via Binance to earn interest on their crypto. 

Binance Features Bittrex

• Bittrex’s custom trading engine was solely designed to be scalable and to ensure that all orders are executed in real-time. 
• Bittrex Global employs the most effective and reliable security technologies available. 
• Their highly efficient and automated monitoring platform helps provide the fastest transactions available today to their traders.
• The platform accepts customers from all around the world, except the United States or countries subject to various legal and sanctions prohibitions. 
• Moreover, Bittrex provides all the traders with the facility to verify their identity via documentary proof. 

Bittrex Features Ease of Use: BYDFI vs Binance vs Bittrex BYDFI

BYDFI is very well known for its simple, pleasant, and easy user interface. The trading interface of this platform is well-equipped with many features and functionalities.

They make sure of the fact that their traders are not at all intimidated by the platform. Moreover, they provide all their traders with a mobile application in order to make it more manageable and more accessible. Furthermore, this mobile application is compatible with both Android and iOS users.

Binance

Binance exchange has an easy-to-use and simple interface that also supports light and dark modes. Furthermore, the Binance platform supports various languages such as Korean, Spanish, Chinese, English, Japanese, and many other languages.

The desktop application of the platform supports Linux deb, Linux rpm, macOS, and Windows. In addition to this, they also have a mobile application that supports both Android and iOS platforms.  

Bittrex

A user-friendly platform is offered by Bittrex. Also, it supports both light mode and dark mode. A left sidebar allows traders to switch between different markets easily.

Moreover, there’s also a middle section that contains the depth chart, price chart, or both, along with closed orders, open orders, order books, and wallets.

There’s also a right section containing different types of trade history and types of orders. Furthermore, they provide their traders with mobile applications supporting both Android and iOS devices. 

Fee Structure: BYDFI vs Binance vs Bittrex BYDFI

The fee structure of BYDFI is as follows:

Spot handling fee:

• BYDFI charges Maker’s 0.1% as the Maker’s fee.
• The conversion fee is 0.1%.

CFDs:

• The transaction fee for CFDs varies from 0.075% – 0.05%.
• The price of opening and closing position is calculated as follows: Margin * Leverage * 0.05%
• The platform charges 0.1% when a trader is opening a position.

Derivatives:

• The opening and closing fee is calculated as follows: Margin * Leverage * 0.025%
• BYDFI charges 0.05% when a trader opens a position.

BYDFI Fees Binance

Binance withdrawal fees and minimum withdrawal amount depend on the blockchain network. Hence, they depend on network congestion and are not fixed. The platform uses a maker and taker model.

The pricing structure of the platform is divided into eleven levels according to the BNB balance and trading volume in the last thirty days. Hence, traders’ trading fee is decided by their level. 

Moreover, they update BNB Balance every day at 0:00 am UTC and the trading volume over thirty days for all their users.

The tier level maker and taker fees are updated at around 2:00 UTC. Furthermore, the platform deducts the trading fee from your BNB balance by default with a 25% discount. 

Also read, Binance Fees: Complete Guide (For Binance and Binance US)

Binance Fee Structure Bittrex

There is no deposit fee charged by Bittrex. However, a small amount of fee is charged for withdrawals depending upon the cryptocurrency, which also includes the network transfer fee.

Similarly, the platform has divided its fee structure into nine levels, all depending upon traders’ trading volume. Bittrex transaction fee charged is calculated by taking the Amount * Purchase Price * Rate for the given trade. 

Also read, Bittrex Fees: Are You Paying Too Much Fees?

Bittrex Fee Structure Security: BYDFI vs Binance vs Bittrex BYDFI

Traders can trade without worrying about all their assets on BYDFI. They take and implement all safety measures to reduce fraud and online theft.

Moreover, the platform has set up multiple wallets that are stored online to keep its user’s assets secure. Furthermore, they also make use of SSL encryption and have acquired multiple licenses over the past few years. 

Binance

Binance makes use of a multi-system security architecture. The funds related to all accounts are stored in cold storage wallets which are air-gapped completely.

In order to increase security, they also make use of Two-factor authentication, where a confirmation mail is sent out to traders for every withdrawal.

Traders can also enable ‘Anti-Phishing’, which will give them a code that is present in every email. This is to ensure that they are clicking on an email sent by Binance only. 

Bittrex

Security is the most important factor for a platform, and Bittrex keeps it at top priority. They store most of the funds in cold storage and use multi-stage holding strategies.

There’s also an option to whitelist withdrawal addresses and IP addresses. Moreover, Two-factor authentication is used to provide an extra level of security.

Google Authenticator application is used for this. Furthermore, the platform uses multiple layers of robust technologies and protection and has been built from scratch to secure funds and transactions.  

Mobile Application: BYDFI vs Binance vs Bittrex BYDFI

BYDFI provides all the traders with a mobile application. This mobile application contains all the features of the websites, further making trading much faster and easier.

In addition, this application lets traders copy trades and analyze the market from anywhere and anytime. Furthermore, the app supports both Android and iOS devices. 

BYDFI Mobile App Binance

Binance welcomes the world to the number one cryptocurrency platform by trading volume through their mobile application.

The Binance app is available only to non-US citizens and residents, and US citizens and residents are required to install the Binance.US app.

Moreover, the Binance app’s mobile-first design lets traders switch between Lite and Pro interfaces with just a single tap.

The application is simple, yet it has access to advanced trading features. In addition to this, the application is available for Android, iOS, Windows, and Linux devices. 

Binance Mobile App Bittrex

Bittrex gets you all the security, trading, and capabilities of the best-in-class regulated cryptocurrency exchange directly on your smartphone through their mobile application.

The Bittrex app allows traders to check prices, trade on the fly, and stay connected to crypto wherever they go.

This app lets you hold your crypto holding with functionalities from the desktop platform and features designed uniquely for mobile users. Furthermore, the mobile application supports both android and iOS devices. 

Bittrex Mobile App Customer Support: BYDFI vs Binance vs Bittrex BYDFI

BYDFI supports its traders by providing them with a comprehensive guide that lists solutions to all the general problems that might occur.

They can get in touch with the customer support service team by just sending them a mail at [email protected].

The mail should include all the details and specifications of the problem. In addition to this, there’s a live chat option that is made available for the traders to get a quick response. 

BYDFI Customer Support Binance

Binance is equally good at its customer support service as its trading platform. They have a YouTube channel where the platform shares all the helpful guides and tutorials.

They are also on Twitter, and if the trader is in any doubt, they can reach them through it. Moreover, they also have a Telegram Channel available in English and Chinese. In addition to this, they have separate channels for the latest announcements.

Binance Customer Support Bittrex

Traders can connect with Bittrex on Twitter. Live chat functionality is also provided to traders, which is available from Monday to Friday (6:00 am to 4:00 pm PST).

Even after all these traders didn’t get the help they needed, they can raise support tickets here. If you have any kind of media queries, then you can write them to [email protected]. 

Bittrex Customer Support Pros and Cons: BYDFI vs Binance vs Bittrex Conclusion 

In order to get the best experience of such crypto assets, it is important to have an appropriate cryptocurrency exchange platform.

For example, the BYDFI trading exchange presents an intuitive interface with leveraged trading and fast processing to their users.

Binance, on the other hand, offers several features like Futures, Margin, Leveraged tokens, and Options trading, and the trading fee is also comparatively low. However, Bittrex only offers spot trading to all the traders. 

BINANCE BITTREX BYDFI Frequently Asked Questions What are the main differences between Bittrex Global and Binance?

The main difference between Bittrex and Binance is that Binance has much more trading options like Leveraged tokens, Futures, Margin, and Options trading. Binance also has low trading fees. At the same time, Bittrex does not offer so many trading options. In addition to this, Binance also supports peer-to-peer exchanges, Liquidity swaps, Binance cards, crypto loans, and many more. 

How to deposit on BYDFI?

The first step toward depositing on BYDFI is to select the coin you want to deposit under the assets section of the website. Second, you need to select the chain name. After this, there will be a QR code and deposit address displayed, through which the trader can then deposit the coins onto that address.

Does Bittrex support fiat payments?

Yes, Bittrex supports fiat payments. However, this wasn’t always the case, as earlier, Bittrex did not offer fiat trading capabilities. But as of now, the platform has started supporting EUR, USD, and also other fiat currencies. 

Does BYDFI have a platform spread?

BYDFI does not have its own platform spread. However, its pricing is among the most accurate spot prices available, and that too with no additional slippage or spreads. Moreover, it also offers a 24-hour liquidity pool. 

Also read,

• The SEC vs. Ripple: Battle Continues!
• Kraken vs Gemini vs BYDFI – Full Comparison
• QED vs Chainlink: Is it the best Blockchain Oracle yet?
• Gemini vs Binance vs BYDFI
• Bybit vs Coinbase