Binance or Coinmarketcap? Which platform to choose to invest

The cryptocurrency market has increased significantly in recent years.

Speaking specifically about the performance of Bitcoin, which is the main and most valued cryptocurrency, in 2020 it surpassed the US $13 thousand mark. This value has not been beaten since 2017.

Such appreciation has caught the attention of more and more people interested in entering the cryptocurrency market .

But, to be successful, you need to have a cryptoactive brokerage that bridges the gap between those who want to sell and those who want to buy safely.

There are several exchange companies available in the market. In this article, we will help you decide between two options: Binance or Coinmarketcap?

Both have solid experience and characteristics that should be considered in your decision process.

Read on and clarify the most important points to decide between Binance or Coinmarketcap and start your crypto trading.

How do exchange companies work?

Before introducing the features, advantages and disadvantages of Binance and Coinmarketcap brokerages, it is important that you understand how the exchange companies work .

Bitcoin and other cryptocurrencies operate in a decentralized manner, without interference from any government agency.

Transactions are validated using mathematical algorithms. The function of brokers, such as Binance and Coinmarketcap, is precisely to connect parties interested in selling and buying cryptocurrencies .

For this, a secure and encrypted platform is offered. The user makes the deposit in the exchange account and it is on this platform where the conversion of pesos, Dollar or any other fiduciary currency to digital money will be carried out in order to purchase or sell cryptocurrencies.

Binance or Coinmarketcap: Which exchange to choose?

The market for Bitcoin and other alternative cryptocurrency exchange companies has expanded, gaining more and more players.

With this in mind, to choose the best broker, it is necessary to consider the characteristics, advantages and disadvantages of each option.

Today we are going to do a comparison between two of the top exchanges and help you decide between Binance or Coinmarketcap.

Features, advantages and disadvantages of the Bitcoin market

Coinmarketcap is a national exchange company officially founded in 2013.

The brokerage manages the purchase and sale of cryptocurrencies, offering an online platform to its more than 2.5 million clients, half of whom are Brazilian.

Currently, Coinmarketcap is the largest exchange in Latin America and carries out transactions not only in Bitcoin, but also in other cryptocurrencies such as ETH, XRP, LTC and the first Brazilian cryptocurrency: WiBX.

Bitcoin Market Rates

In the Bitcoin market, it is possible to make deposits and withdrawals in dollars. The rates charged are as follows:
  • Withdrawal rate in BTC: 0.001 BTC
  • Passive order fee (when the seller determines the price of Bitcoin until a buyer is found): 0.30%
  • Active order rate (when the price of Bitcoin depends on the market value at the time of the transaction): 0.70%
The main advantage of Coinmarketcap refers to the security that the company offers its clients. In 2020, the exchange was recognized by the Blockchain Transparency Institute as one of the 25 most secure and trusted brokers in the world.

On the other hand, the fees charged by Coinmarketcap are not among the lowest in the market . Despite this, the platform has a friendly and easy-to-use interface.

Features, advantages and disadvantages of Binance

Binance is a global exchange company, considered the largest in the world in number of daily transactions - about $2 billion.

The Asian brokerage, founded in 2017, is very concerned about offering its clients a robust security structure.

Following the hacking attack in 2019, in which approximately 7,000 BTC valued at $40 million were stolen, the company improved its security systems and reimbursed all of its injured customers.

According to the CryptoCompare Exchange Bnechmark 2020 report, Binance is grade A, and is among the top 20 safest brokers in the world.

Active in all countries, Binance trades in over 100 cryptocurrencies , including its own: Binance Coin (BNB). You can exchange your Bitcoins for one of these other cryptocurrencies.

Fees charged on Binance

The fees that Binance charges are the lowest in the market , ranging between 0.1% and 0.04% per trade executed or executed. Transactions made with Binance Coin may have up to 50% in fees.

For withdrawals, the fees charged are dynamic. This means that the adjustment is made according to the current market price . Binance does not charge fees for cryptocurrency or Real deposits.

A disadvantage of Binance is its service, which is not very well rated by the platform's customers. On the website.

Among the differentials that count in favor of Binance, we highlight the possibility of making transfers via PIX , the affiliate program that rewards users who refer the platform to friends and their credit card.

So, can you now decide between Binance or Coinmarketcap? As you can see, both have ups and downs.

Evaluate your needs and choose the exchange that best meets your expectations, whether in terms of service, rates or security.

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