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Binance Vs Coinswitch – Which Is Best?

Let’s say that both Binance and Coinswitch (Binance Vs Coinswitch) have become quite popular among traders and investors alike, which means it’s no longer an issue for investors to make a decision blindly.

If you are confused about going with Binance or Coinswitch Kuber, then this article Binance Vs Coinswitch is for you.

Binance Vs CoinsWitch

Binance Vs Coinswitch

In the current market scenario, the chances of investing in cryptocurrency are very high. But many people are finding it difficult to choose a perfect platform to buy and sell their highly volatile currencies. 

Binance is a cryptocurrency exchange platform and was launched in 2017. It has since grown in popularity as one of the most popular platforms for trading cryptocurrencies due to its numerous advanced features beneficial to experienced and novice traders. Get Cashback using Binance Referral Code.

However, Coinswitch is an India-focused crypto exchange launched in 2020, and it has many India-specific features. CoinSwitch is a lot easier to use and explore than others. Get Cashback using CoinSwitch Referral Code.

Comparison In Terms Of

Fees

Binance is a Chinese cryptocurrency exchange with unique features compared to most other exchanges on the market. It has low fees on transactions which can be as low as 0.1 percent, which is very reasonable. The default withdrawal fees are set at 0.0005 BTC (around $10 at current prices).

Coinswitch is a cryptocurrency exchange that provides more than 100 cryptocurrencies for its users. They don’t charge for depositing or withdrawing money from the app, but they levy a 1-2 percent fee on all purchases. This makes it a bit misleading, as they charge the same for buying and selling cryptocurrencies.

Binance Referral Code
Image Credits – Binance

Security

Another significant difference between Binance and CoinSwitch is security. Binance has been having a good reputation for its security standards. The exchange also offers two-factor authentication for both login and withdrawals.

However, Coinswitch brings more to the table with its extra layer of security. Plus, the crypto exchanges don’t hold on to user funds.

Every crypto trader has a preferred exchange for trading in cryptocurrency. Many crypto traders have a preference to use one over the other; however, when it comes to security, both trades are on par with each other.

Both Binance and Coinswitch are what you would describe as cryptocurrency exchanges. They are both secure, but it depends on how you look at them. The apparent fact that they are both secure is enough for them to survive in the crypto market. The two exchanges, however, have significant distinctions that make one superior to the other.

Trading options

Binance was founded in July 2017, and it is the world’s largest crypto exchange. It has over 500 trading pairs to choose from, with BTC, ETH, BNB, and USDT as its base currencies.

Coinswitch is an organized platform for trading cryptocurrencies that allows users to buy different coins through one-stop trading. This platform lets users trade using Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), or Tether(USDT).

Deposit method

Deposit & Withdrawal are the two primary functions of any trading platform. Therefore, providing numerous options to deposit and withdraw funds is critical to attaining credibility in the crypto community. 

You may utilize multiple Binance cryptocurrency deposit options depending on where you are in the world. Global customers can store their BNBs in a mobile wallet and receive bitcoin from Binance by bank account or SEPA transfer.

CoinSwitch Kuber
Image Credits – Coinswitch

Coinswitch is a cryptocurrency and digital asset exchange platform that enables crypto-to-crypto exchanges and crypto-to-fiat exchanges. Coinswitch has integrated UPI, the preferred payment method of 200 million Indians, into its platform.

The following are digital currency wallet methods supported by Coinswitch:

  • Deposit from UPI (by selecting the available UPI app on your mobile).
  • Direct bank deposit (via NEFT, IMPS, or RTGS).

Conclusion 

Both Coinswitch and Binance have the potential to be the best platforms for markets. As you can see from the comparison post, both platforms have something unique to offer, making them stand out from the competition.

Both Binance and Coinswitch are robust cryptocurrency exchanges. These platforms are prevalent among traders and investors, which makes their names quite recognizable among the community. 

Both of these platforms being famous doesn’t necessarily mean that they are similar in terms of performance. As an investor, choosing the proper exchange to buy digital assets isn’t your choice alone. 

It’s worth considering the reviews of other people because everyone has their preferences. What’s more, reviews play a significant role in helping you make an informed decision about whether you should invest or not.

About Mohanraj

Mohanraj is SmartFinder's Top Editor.  Have written over 700+ posts for SmartFinder with a team of tech experts. Passionate about technology, Mohan is keen on bringing the latest tech news to millions of internet users in India. Find him on Twitter and Linkedin.

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