Bittrex VS Binance: Which One Is Better?

Cryptocurrency trading is an activity that more and more people around the world are participating in. With that, however, there’s also an increasing number of people who are looking for the best cryptocurrency exchange platform for themselves. In this Bittrex VS Binance comparison, we’ll be discussing two of the industry giants.

Both Binance and Bittrex are among the most popular cryptocurrency exchange sites on the internet. They do also both have great reputations, and are trusted by the vast majority of crypto holders out there.

Naturally, however, most people are going to want to pick one of the two - this leads to discussions concerning the safety and quality of the services that the platforms provide. Whether it be the Binance VS Bittrex fees, supported coins, or security, worry not - all of the essentials will be discussed in this very article!

Bittrex VS Binance: Comparison Criteria

If you’ve been comparing cryptocurrency exchange sites for some time now, you’ve probably got some specific criteria by which you try to analyze the platforms, and check which of them fit your description the best.

Latest Coinbase Coupon Found:

Well, that’s the right way to do it - it’s the methodology that we’ll apply in this Bittrex VS Binance comparison, too.

Since there are many different angles that we could evaluate the two crypto trading sites from, though, we’ll focus on five core features - security, ease of use, fees, supported coin count, and user count.

While there are other features that are surely worth looking into (i.e. customer support and mobile trading), the aforementioned five are often seen as some of the most important ones. Let’s take a closer look at each of them, shall we?

  • Security. It probably does not need to be mentioned, but security should be a the top of your priority list when comparing Bittrex VS Binance, or any other two platforms out there. If a crypto exchange does not have proper security measures in place, you can expect the worst to happen - namely, all of your assets being hacked and stolen. While crypto hacks have become a comparatively rare occurrence, they still do happen - in order to get some peace of mind, always use a platform with the best security features in place!
  • Ease of Use. While not being an absolutely-essential factor, ease of use is still going to be a very important part of a great cryptocurrency exchange site. Think about it - if you’re signing up to an exchange or a brokerage, you are probably going to be doing a lot of trading, buying, and selling. In order to be efficient with such processes, you are going to need the platform to be simple to use, easy to navigate, and void of any confusing features. Is Bittrex better than Binance in this regard? We shall see!
  • Fees. If you want to become a great investor - like, truly great -, one of the core things that you’ll want to figure out in this Bittrex VS Binance comparison is the difference in fees between the two platforms. You see, some of the best investors in the world take this into account very seriously - if the fees are high, this results in some loss of potential profit, and can be detrimental to your overall earnings. Naturally, fees do depend on many different factors - we’ll get to that, in due time.
  • Supported Coins. If you’re a complete cryptocurrency trading beginner, most of the time, you are going to want to stick to some of the best-known coins on the market - Bitcoin, Ether, Litecoin, Tron, and so on. However, with time, you might want to diversify your assets, and look into some other altcoins and maybe even crypto tokens to invest in. In order to be able to do that, you’re going to need your crypto exchange to allow you to actually buy and sell those less-known crypto assets! Sure, you could always register on some different platform, in addition to using your main one, but if that was as simple as that, you probably wouldn’t be reading this Bittrex VS Binance comparison, right?
  • User Count. At first glance, you might say - this is quite trivial! While I can understand why user count might not seem like the most essential thing to look at when comparing Bittrex VS Binance, I must say - it’s probably more important than you think! If a platform has a huge number of users, this means that there’s a constant, steady balance of supply and demand being upheld. In other words, you’ll never have to wait to sell your cryptocurrency, or experience buying lag or some huge fees when purchasing new coins, altogether. Surely one of the more underestimated factors for anyone who’s trying to decide - Bittrex or Binance?

With all of that being said, you are now aware of the main aspects that you should look into when deciding Bittrex VS Binance, or when picking out any other crypto exchange, for that matter.

Now, let’s not waste any time and move on to the actual comparison at hand.

Bittrex VS Binance: The Comparison

In order to keep things clear and concise, we’ll follow the above-given list of features, and see how both of the platforms in this Bittrex VS Binance debate compare and contrast against each other. Meaning, we won’t get into the Binance VS Bittrex fees or user count just yet - rather, we’ll begin with the security aspect.

Security

There are many different ways of how a cryptocurrency exchange site can protect the assets of its users. Different platforms employ different protective measures - the same is true for the Bittrex VS Binance comparison, too.

In short, however, no matter if you choose Binance or Bittrex as your go-to crypto exchange platform, you can rest assured - both exchanges employ superb security features.

Bittrex VS Binance: upgrade to global Bittrex.

On both of those sites, you’ll be able to enable two-factor authentication - this will add an extra layer of security to your cryptocurrency assets.

On top of that, Bittrex also offers its users a very unique feature - the exchange holds 80% - 90% of all of the crypto assets in cold storage devices. What this means is that, virtually, it would be almost impossible for hackers to breach and steal your crypto coins! It’s no wonder that Bittrex is commonly referred to as "the safest crypto exchange on the planet".

Compare Crypto Exchanges Side by Side With Others

Did you know?

Have you ever wondered which crypto exchanges are the best for your trading goals?

See & compare TOP3 crypto exchanges side by side

Ease of Use

The usability factor of a cryptocurrency exchange platform depends on a lot of different aspects. It’s also worth pointing out that what is “easy to use” to a crypto trading pro is going to be rather difficult for a complete newbie!

That being said, it’s not something that you need to worry about concerning this Bittrex VS Binance comparison - both of the platforms in question are very simple to use, and quite straightforward in their designs.

Notably, this does not mean that either Bittrex or Binance lack any specific features. All of the essential functionality that you might need out of a high-end crypto trading site is going to be present on both of the platforms - all of the necessary graphs, buttons, and the like.

The platforms do also feature some helpful tips for anyone who’s just starting out - you’ll be able to go through each of the features and see what they do, and how they can benefit you in the process of trading, buying, and selling crypto.

The registration processes for both of the sites in question are also quite straightforward, and can be completed very quickly. All in all, as far as ease of use is concerned, both platforms are going to provide you with great usability - surely a great point to know for anyone looking at Binance VS Bittrex comparisons!

Fees

Now, the Bittrex VS Binance fees are surely one of the most sought-after topics by those looking to start trading crypto assets.

As pointed out earlier in the article, if you want to make some sort of a profit with crypto, this is surely one of the things that you’ll have to pay quite close attention to! Naturally, it might not be the determining factor, but think about it yourself - you’ll probably be trading and exchanging your crypto coins multiple times per week.

If the fees are high, they will surely add up to a pretty significant sum of money!

Bittrex is a great choice when it comes to small fees. The exchange will charge you a flat 0,25% fee for your transactions. Sure, it’s a bit higher than with some other exchanges, but at the same time, since it’s fixed, you might end up saving a lot of money, in the long run.

Bittrex VS Binance: Binance coin selection.

All of that said, Binance does challenge Bittrex rather adamantly!

You see, with Binance, you are going to have a 0,1% fee on all of your trades. It’s one of the smallest fees in the industry! This does not concern the withdrawal fees, though - only those that have to do with transactions.

So - as far as Binance fees VS Bittrex ones go, Binance is clearly superior!

Number of Supported Coins

No matter what sort of a cryptocurrency trading platform it is that you pick, you can almost always expect it to support all of the main crypto coins - meaning, you should always be able to trade and exchange Bitcoin, Ether, Litecoin, and similar ones. If that’s not the case, you’re probably better off with a different exchange, altogether.

That being said, whilst comparing Bittrex VS Binance, you’d probably be more interested in the actual number of supported cryptocurrencies, rather than the question of whether or not the two platforms support the main crypto assets out there. I mean, come on - we’re talking about two of the industry leaders here!

Bittrex VS Binance: top coin markets.

Well, whatever the case might be, rest assured - both of the exchanges support rather significant numbers of crypto coins.

With Bittrex, you’ll have more than 200 different crypto assets to pick from. Binance, on the other hand, supports fewer coins - around 150, to be semi-exact.

While Bittrex does support more coins, and is the “winner” in this part of the Bittrex VS Binance comparison, it’s still worth mentioning that most people aren’t even going to use up all of these trading opportunities. When you get into the hundreds with supported coins, it becomes more relevant to trading professionals, rather than industry newcomers.

Ledger Nano X Review
Pros
  • Can be managed from mobile device
  • Very secure
  • Supports more than 1,100 cryptocurrencies
Trezor Model T Review
Pros
  • Top-notch security
  • Touchscreen user interface
  • Easy to set up
Ledger Wallet Review
Pros
  • Super secure
  • Protection against physical damage
  • Supports more than 1500 coins and tokens

User Count

Finally, let’s talk about the aspect of user count - in other words, the number of active users on the two platforms.

Whenever you’re trying to pick out the best crypto exchange platform for yourself - whether it be comparing Bittrex VS Binance, or some other platforms -, user count is going to tell you both how well the platform is doing trading-wise, and also what’s the general sentiment surrounding it within the community.

If the exchange possesses a lot of users, in most cases, it’s going to be reliable and trustworthy - makes sense.

Bittrex has over 500,000 active users - that’s nothing to scoff at! While it’s certainly on the low end of the spectrum when compared to other major crypto exchanges, it’s still pretty good.

Binance, on the other hand, has close to 14 million users. Ya - the difference is quite significant.

In short, if you plan a long-lasting career in the realm of cryptocurrency trading, Binance is going to be the better alternative, unless Bittrex suddenly explodes with users.

Conclusions

Now, then - as far as this Binance VS Bittrex comparison is concerned, which of the two platforms is going to be the better alternative?

Well, as you might have already noticed, while both of the exchanges are “up there” in regards to their reputation, Binance is clearly the better alternative (unless you’re absolutely paranoid about the security aspect of your cryptocurrency).

Bittrex VS Binance: Binance features.

Binance comes with an absolutely huge user count, is very secure and trustworthy, and also has some of the best fees in the entire industry. While Bittrex does offer exceptional security features, it does fall a bit short in most other aspects, when placed in a comparison with Binance.

In conclusion, if you’re a cryptocurrency enthusiast and are looking for the best place to start trading crypto assets, Binance will surely be one of the best choices. Best of luck!

Leave your honest feedback

Leave your genuine opinion & help thousands of people to choose the best crypto exchange. All feedback, either positive or negative, are accepted as long as they’re honest. We do not publish biased feedback or spam. So if you want to share your experience, opinion or give advice - the scene is yours!

FAQ

Which of the Bittrex VS Binance cryptocurrency exchange platforms is the better alternative?

Most online user reviews would tell you that Binance is actually the better alternative, at least when it comes to the Bittrex VS Binance debate. While Bittrex does offer some great security features, and supports a wide variety of coins, Binance has an exponentially larger user base, and some of the best crypto trading fees on the market.

What are the main differences between Bittrex and Binance?

Binance has smaller trading fees - 0,1%, while Bittrex offers users a flat 0,25%. Binance also has an incredibly-large user count - nearly 14 million active users, while Bittrex only has around 500,000. That said, Bittrex does support quite a few more coins than Binance.

How to pick the best crypto exchange for yourself?

Picking out the best crypto exchange for yourself, you should always focus on maintaining a balance between the essential features that all top crypto exchanges should have, and those that are important to you, personally. For example, all of the best exchanges should possess top-tier security features, but if you’re looking to trade only the main cryptocurrencies, you probably don’t really care too much about the variety of coins available on the exchange. It’s all a case-by-case scenario!

Which cryptocurrency exchange is best for beginners?

Reading through various best crypto exchange reviews online, you’re bound to notice that one of the things that most of these exchanges have in common is that they are very simple to use. While some are more straightforward and beginner-friendly than others, you shouldn’t encounter any difficulties with either of the top-rated exchanges. That said, many users believe that Coinbase is one of the simpler exchanges on the current market.

What is the difference between a crypto exchange and a brokerage?

In layman’s terms, a cryptocurrency exchange is a place where you meet and exchange cryptocurrencies with another person. The exchange platform (i.e. Binance) acts as a middleman - it connects you (your offer or request) with that other person (the seller or the buyer). With a brokerage, however, there is no “other person” - you come and exchange your crypto coins or fiat money with the platform in question, without the interference of any third party. When considering cryptocurrency exchange rankings, though, both of these types of businesses (exchanges and brokerages) are usually just thrown under the umbrella term - exchange. This is done for the sake of simplicity.

Are all the top cryptocurrency exchanges based in the United States?

No, definitely not! While some of the top cryptocurrency exchanges are, indeed, based in the United States (i.e. Coinbase or Kraken), there are other very well-known industry leaders that are located all over the world. For example, Binance is based in Tokyo, Japan, while Bittrex is located in Liechtenstein. While there are many reasons for why an exchange would prefer to be based in one location over another, most of them boil down to business intricacies, and usually have no effect on the user of the platform.