Fees, Security, and Trading Comparison

MEXC vs Binance are two common cryptocurrency exchanges that supply merchants worldwide a variety of buying and selling choices, options, and companies. Each platforms additionally present aggressive instruments and functionalities.

MEXC gives a extremely complete crypto buying and selling platform. The trade helps over 2,800 cryptocurrencies and permits customers to commerce anonymously with out KYC verification. MEXC provides the bottom charges (generally as little as 0%) for spot and futures buying and selling.

However, Binance is understood for its in depth options, deep liquidity, and large buying and selling quantity. This crypto trade provides crypto loans and even a crypto debit card. It helps over 1,300 buying and selling pairs and gives many options, together with spot, margin, futures buying and selling, staking, and incomes alternatives.

Nonetheless, these usually are not the one variations between MEXC and Binance. This MEXC vs. Binance assessment will embrace an entire overview, what are the charges of MEXC and Binance? What are their finest buying and selling options?

As well as, we’ll cowl what are the variety of supported cryptocurrencies on MEXC and Binance? What are their safety ranges? Whereas highlighting, who ought to decide MEXC over Binance? And who ought to decide Binance over MEXC? Let’s get began!

MEXC vs Binance: A Full Overview

Not like Binance, which makes use of a tiered payment construction through which the high-volume merchants can pay decrease charges, MEXC has low buying and selling charges even for low-volume merchants. The desk beneath gives an entire overview of MEXC and Binance.

Since they’re each top-tier crypto exchanges with sure similarities, we summarized their options that will help you spot their variations simply.

Alternate MEXCBinance Based20182017HeadquartersVictoria, Seychelles.No world headquarters at the moment.Supported Cryptocurrencies 2800+400+Buying and selling ChargesLow charges (0.1% – 0%)Low charges. (0.1% – spot buying and selling) and 0.5% for immediate purchase and promote.Liquidity ExcessiveVery Excessive Leverage 300X150XSafety Two issue authentication (2FA), chilly storage for crypto, common safety audits, futures insurance coverage fund, and tackle whitelisting.Insurance coverage fund, two issue authentication, tackle whitelisting, and chilly storage of crypto.KYC Necessities Non-compulsoryObligatory Person Expertise Quick order execution however will not be essentially the most beginner-friendly.Newbie-friendly and superior instruments.Buying and selling pairs 3,000+1,300+P2P Buying and selling SureSureListed Digital Belongings 3,000+400+Buying and selling markets Margin, spot, and future buying and selling Futures, margin, choices, and spot buying and selling Accepted Fee Strategies Cryptocurrencies solelyCrypto, Direct Financial institution deposit, Debit/Credit score Card, Apple Pay, and Google Pay.Buying and selling QuantityUSD 6+ billion (Prime 10)USD 76 billion (World’s largest).

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What are the Charges of MEXC and Binance?

On this part, we’ll discover the charges related to crypto buying and selling on MEXC and Binance, together with buying and selling charges, withdrawal charges, and deposit charges. Understanding these payment is important, as they affect your overal revenue. Let’s evaluate how these two exchanges construction their charges and what merchants ought to anticipate.

MEXC vs Binance: Deposit Charges

MEXC permits its customers to deposit most cryptocurrencies free of charge and doesn’t impose any limits on deposit quantities. Binance additionally doesn’t cost charges for cryptocurrency deposits. Nonetheless, charges for fiat deposits range primarily based on the cost methodology and the fiat forex.

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MEXC vs Binance: Buying and selling Charges

MEXC provides aggressive buying and selling charges to its customers. The MEXC maker payment is  0.00% for spot buying and selling, and the taker payment is 0.20%. For futures buying and selling, MEXC prices a maker payment of 0.00% and a taker payment of 0.02%.

The crypto trade additionally has “particular buying and selling pairs.” These are pairs that futures and spot merchants can commerce at 0% maker and taker charges. MEXC is the perfect zero-fee crypto trade as a result of its charges, which will be additional diminished primarily based in your buying and selling quantity and by holding the platform’s native token, MX.

Conversely, Binance makes use of a tiered payment system primarily based on a dealer’s 30-day buying and selling quantity. For those who’re an everyday consumer with lower than $15 million in buying and selling quantity, you’ll pay an ordinary spot buying and selling payment of 0.10% for each makers and takers.

For futures buying and selling, the charges begin at 0.02% for makers and 0.04% for takers. The platform provides customers a 25% low cost on buying and selling charges by paying with Binance’s native token, BNB, and additional reductions can be found for high-volume merchants.

The charges for Binance USD-M Futures are 0.0200% for makers and 0.0500% for takers when utilizing USDT. Nonetheless, if you’re buying and selling with BUSD, the maker payment drops to 0.0180%, whereas the taker payment is 0.0450%. In the meantime, Coin-M Futures merchants are charged a 0.0200% maker payment and a 0.0500% taker payment.

MEXC vs Binance: Withdrawal Charges

Withdrawal charges on each platforms range relying on the particular cryptocurrency you withdraw. For instance, MEXC prices 0.0003 BTC for Bitcoin withdrawals and 1 USDT for Tether (USDT) withdrawals.

Binance’s withdrawal charges are usually aggressive and rely upon the cryptocurrency and community used; as an illustration, the payment for Bitcoin withdrawals is 0.0002 BTC. 

It’s essential to notice that withdrawal charges are topic to vary primarily based on the blockchain community and the community circumstances. So, confirm the present charges on the respective platforms earlier than initiating a withdrawal.

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MEXC vs Binance: What are Their Finest Buying and selling Options?

MEXC’s finest options are its deep liquidity for altcoins, low buying and selling charges, MEXC Launchpad and Kickstarter, MEXC Futures M-Day, copy buying and selling, and a strong number of futures buying and selling choices, together with leveraged ETFs.

One of the best options of Binance are the Binance web3 pockets, NFT market, excessive liquidity, BNB vault, superior charting instruments, and Binance Launchpad and Launchpool. It additionally provides a number of incomes methods, comparable to staking, financial savings, and liquidity farming.

MEXC vs Binance: What are Their Variety of Supported Cryptocurrencies?

MEXC and Binance are each common cryptocurrency exchanges, however they differ within the variety of belongings they help. MEXC  helps greater than 2,800 cryptocurrencies, together with lesser-known altcoins. It additionally has round 3,696 buying and selling pairs, giving customers a variety of choices.

Binance, then again, helps greater than 400 cryptocurrencies, with about 1,395 spot buying and selling pairs accessible. Fortunately, you’ll be able to commerce Bitcoin, the preferred altcoins, and a few newer altcoins, as Binance at all times provides new listings, particularly for promising tasks.

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MEXC vs Binance: What are Their Safety Degree?

MEXC and Binance present sturdy security measures, however their safety measures differ. MEXC safety measures are listed beneath;

1. Common Safety Audits: MEXC  conducts common safety audits by means of third-party cybersecurity corporations to examine for safety dangers. 

2. 2FA: MEXC encourages customers to arrange two-factor authentication. This safety function requires customers to offer two verification kinds earlier than accessing their accounts. This can assist MEXC customers stop unauthorized entry to their accounts even when somebody steals their passwords.

3. Withdrawal Whitelist: You may add a number of pockets addresses to the whitelist and withdraw funds to solely pre-approved pockets addresses. This safety function prevents hackers from transferring funds to any pockets tackle not listed, even when they achieve entry to your account.

4. Chilly Pockets Storage: MEXC shops a big quantity of consumer funds in offline wallets (chilly wallets) fairly than on-line wallets (sizzling wallets).

Binance safety measures are listed beneath;

Binance additionally makes use of chilly pockets, two-factor authentication, and withdrawal whitelist to guard customers’ funds from hackers. Additionally they implement different safety measures like: 

1. Anti-Phishing Codes: This helps customers acknowledge official emails from the trade. By setting a private Anti-Phishing code of their account. When you set it up, each e-mail from Binance will carry that code. So, for those who obtain an e-mail from Binance that doesn’t have the code, it’s probably a phishing try.

2. Safe Asset Fund for Customers (SAFU): Binance has put aside a reserve fund to compensate customers in case of safety breaches. To fund the reserve, Binance allocates 10% of its buying and selling charges to the SAFU fund, so if a hack happens, Binance will reimburse affected customers.

Who Ought to Decide MEXC over Binance?

MEXC is appropriate for Merchants who prioritize entry to new or low-cap tokens, no-KYC buying and selling, and decrease charges.

MEXC in a Nutshell

MEXC is a cryptocurrency trade based in  2018. The trade is understood for its wide selection of buying and selling choices and help for brand spanking new and smaller altcoins. Whether or not you’re into spot buying and selling, futures, or margin buying and selling, MEXC has one thing for you.

MEXC provides its customers MEXC Financial savings, the place they’ll earn rewards by locking up their crypto belongings or collaborating in yield farming. The trade has in depth options, however a user-friendly interface accompanies it.

Key Options of MEXC

MEXC stands out as one of many crypto exchanges with nice options designed to provide merchants extra alternatives to earn and develop their portfolios. A number of the finest options embrace Spot buying and selling & Copy buying and selling, Futures M-Day, Launchpad, and Kickstarter.

1.  Spot Buying and selling on MEXC

MEXC makes spot buying and selling less complicated and environment friendly by providing excessive liquidity and quick order execution. Most buying and selling pairs are pegged to USDT, and the platform’s superior dashboard provides you real-time insights into buying and selling volumes.

2. Copy Buying and selling on MEXC

If you’re new to buying and selling, MEXC’s Copy Buying and selling function means that you can comply with skilled merchants and robotically copy their strikes within the futures market. You may comply with the merchants primarily based on their ROI, win charge, and general efficiency.

3. MEXC Launchpad 

MEXC handpicks high-potential tasks, and customers who maintain at the least 2,000 MX tokens can simply earn free token airdrops. Suppose you maintain 1,000 MX tokens for 30 days. In that case, you too can take part in non-lockup occasions and get rewarded primarily based on the variety of tokens you commit.

4. MEXC Kickstarter

This is a pre-launch voting occasion the place you’ll be able to again new tasks by voting. If a venture will get sufficient help, everybody collaborating will get free token airdrops. To affix, you want at the least 500 MX tokens in your pockets 24 hours earlier than the occasion begins.

5. MEXC Futures M-Day 

MEXC Futures M-Day is a particular occasion the place you’ll be able to earn rewards for buying and selling particular futures contracts. The extra you commerce, the extra lottery tickets you gather, rising your probabilities of successful free airdrops. Even for those who don’t win, collaborating earns you free raffle tickets and futures bonuses, which you should use as buying and selling margins.

MEXC provides much more options not mentioned on this article; you’ll be able to try this MEXC assessment article to study extra in regards to the trade.

Upsides & Downsides of MEXC

Upside: MEXC provides a variety of cryptocurrencies with low buying and selling charges and excessive liquidity. You may commerce on MEXC with out KYC verification, and as a brand new consumer, you could have an opportunity to obtain as much as 8,000 USDT in sign-up bonuses. For those who’re on the lookout for the perfect crypto sign-up bonuses, MEXC is a prime contender. Learn this MEXC referral code article to learn the way to qualify for this unique reward.

Draw back: MEXC has restricted fiat help, rules across the platform are shaky, and buyer help will be gradual generally.

Who Ought to Decide Binance over MEXC?

Skilled merchants, institutional buyers, and customers who prioritize excessive liquidity, regulatory compliance, and simple fiat transactions ought to decide Binance over MEXC.

Binance in a Nutshell

Binance is the world’s greatest and hottest cryptocurrency trade by buying and selling quantity. It was based in 2017 by Changpeng Zhao (CZ) and rapidly turned a go-to platform for brand spanking new and skilled crypto merchants. Binance Alternate has over 300 tradable cash, together with common tokens, meme cash, GameFi, and AI cash.

Certainly one of the massive perks of Binance is its low buying and selling charges; for those who use its  BNB, you may get much more reductions. The platform additionally helps many and completely different buying and selling strategies like spot, margin, and peer-to-peer, together with numerous order varieties comparable to restrict, market, and stop-limit orders.

Key Options of Binance

1. Binance Web3 Pockets: Binance has a built-in Web3 pockets that lets customers simply swap to and discover the Web3 ecosystem and decentralized finance (DeFi). The Web3 pockets is a gateway for Binance merchants to execute cross-chain token swaps, take part in unique airdrop campaigns, and discover numerous decentralized purposes.

2. Binance Referral Program: Binance has a referral program that encourages current customers to refer their associates, household, and group to affix the platform in return for rewards and bonuses. The referral program is split into two arms: customary and lite. The primary provides you 20% lifetime reductions on buying and selling charges, whereas the second provides 100 USDT buying and selling credit score.

Once you use our Binance referral code to register a brand new account, you’ll stand up to $100 price of items, lifetime reductions on buying and selling charges, and different unique rewards you’d miss for those who created a brand new account with out utilizing the particular code, you would possibly miss out on unique rewards!

3. NFT Market: Binance has a totally outfitted NFT market for merchants to browse, mint, promote, bid on, and buy NFTs from digital creators. Itemizing and searching are free, and you’ll find a few of the hottest NFT collections, like Golden Ape Membership and BULL BTC CLUB.

Upsides & Downsides of Binance

Upsides: Binance has low buying and selling charges and gives primary and superior buying and selling options for brand spanking new and skilled merchants. It additionally provides a number of incomes alternatives, comparable to staking and financial savings. On this complete Binance assessment, we mentioned extra options that make Binance an excellent trade.

Downsides: Binance has confronted regulatory scrutiny in a number of international locations, and the obligatory KYC is a deal-breaker for merchants seeking to commerce anonymously. Additionally, buying and selling on the trade would possibly overwhelm new customers as a result of in depth product choices.