Comparison of Binance Us vs Coinswitch [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Binance Us vs Coinswitch comparison!

Your expert: Alejandro Borja

Binance Us

Your expert: Xavier Tarrasó

Coinswitch

Main points

Fees

0,00%/0,40%

Earns

Yes

Customer service

4/5

0,00%/0,50%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.7 – Low fees comparable to its global counterpart.

4.0 – Low fees with a focus on instant crypto swaps.

Level

0,00%/0,40%

0,00%/0,50%

Brief explanation

Binance US is known for its competitive and low fee structure, which is one of its most attractive features. The exchange operates on a tiered fee system where trading fees are reduced based on trading volume and Binance Coin (BNB) balance, making it particularly appealing for high-volume traders. Typically, trading fees start low and can decrease further with higher trade volumes and the use of BNB for transaction fees. This fee structure not only encourages active trading but also enhances profitability by keeping transaction costs minimal. Deposit fees are generally non-existent, but withdrawals incur a small fee that varies depending on the cryptocurrency being withdrawn. For traders using credit or debit cards, higher transaction fees may apply, making it important to consider the most cost-effective payment method when trading.

CoinSwitch employs a variable fee structure, which ranges from 0% to 0.49% per transaction. This fee is integrated into the exchange rate provided to users, making it less visible upfront. While this can be competitive, especially for smaller trades, the lack of clear breakdowns can make the fee structure feel somewhat opaque. For credit and debit card purchases, CoinSwitch uses Simplex, a third-party payment processor, which can add additional costs. These fees can be substantial; for instance, users purchasing Bitcoin via Simplex may experience an effective fee of up to 10% when considering both the Simplex and CoinSwitch fees. Moreover, network (or miner) fees are applied to all transactions and are dependent on the blockchain used. These are additional to the CoinSwitch fees and can vary based on network congestion and other factors. In summary, while CoinSwitch offers a convenient and user-friendly platform, potential users should be aware of the combined costs of CoinSwitch’s variable fees, Simplex processing fees for card transactions, and blockchain network fees, as these can collectively impact the total cost of trading on the platform.

Binance Us

Security Methods: Binance US employs robust security protocols, including advanced encryption, multi-signature technology, and two-factor authentication (2FA). These measures ensure the safety of users' funds and personal information.
Customer Service: Binance US offers responsive and accessible customer support through various channels, including live chat and email. This ensures that users can quickly resolve any issues or get assistance when needed.
Reputation and Reviews: Binance US is well-regarded in the crypto community, with generally positive reviews from users and industry experts. The exchange's reputation for reliability and user satisfaction further enhances trust.
Volume Managed: Binance US manages a significant trading volume, indicating a high level of liquidity. This means that users can execute large transactions with minimal impact on the market price, ensuring efficient trading.
Regulation: Binance US operates under strict regulatory compliance, adhering to US financial regulations. This ensures transparency and accountability, providing users with confidence in the platform's integrity.

Coinswitch

Year Founded CoinSwitch was founded in 2017, providing it with several years of experience in the cryptocurrency exchange industry. Its longevity adds to its credibility and trustworthiness.
Volume Managed The platform manages a significant trading volume, indicating its liquidity and the trust traders place in it. High trading volumes often reflect the platform's efficiency and reliability.
Number of Users CoinSwitch has a substantial user base, with millions of users worldwide. This wide adoption is a testament to the platform's reliability and the trust it has earned in the cryptocurrency community.
Reputation and Reviews CoinSwitch has garnered positive reviews from users and industry experts alike. Its reputation is bolstered by its user-friendly interface, extensive range of supported cryptocurrencies, and consistent performance, making it a trusted choice among cryptocurrency exchanges.
Security Methods CoinSwitch employs robust security measures, including encryption protocols, two-factor authentication (2FA), and cold storage for the majority of user funds. These security practices help ensure the safety of users' assets and personal information.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

BAM Trading Services Inc.

Bitcipher Labs LLP

Regulation

Regulated in the EE. UU.

Not regulated

Year founded

2019

2017

Founder

Operated by BAM Trading Services (non-specific founder)

Ashish Singhal

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance Us	FEATURES	Coinswitch
Allows small minimum trades, accessible for beginners.	Minimum Trade	CoinSwitch does not explicitly set minimum trade values, allowing for flexibility depending on the partner exchange used. This makes it accessible for traders of all levels
Competitive low fees, beneficial for high-volume traders.	Trading and Transaction Fees	CoinSwitch charges fees ranging from 0% to 0.49%, which are built into the exchange rates. While competitive, these fees can be less transparent, especially when using credit cards
Offers a wide selection, though less than its global counterpart.	Number of Cryptocurrencies	CoinSwitch supports over 300 cryptocurrencies, providing a vast selection for users
Extensive range of trading pairs, providing good market flexibility.	Crypto-to-Crypto Trading Pairs	The platform offers more than 45,000 trading pairs, making it easy to trade between a wide variety of cryptocurrencies
Generally clear info, but some users desire more detailed disclosures.	Website Transparency	While CoinSwitch provides some information on fees and services, the details can sometimes be unclear, especially regarding hidden fees and exchange rate breakdowns
Binance US does not offer an exchange card for in-store purchases and benefits.	Credit/Debit Card	CoinSwitch does not provide an exchange card for in-store purchases.
Offers secure storage solutions, including cold storage options.	Storage Offering	CoinSwitch does not offer dedicated storage solutions but supports integration with various wallets, allowing users to manage their holdings externally
Provides staking options with competitive rewards.	Staking and Rewards	CoinSwitch offers staking options for various cryptocurrencies, allowing users to earn passive income. However, staking rewards can be relatively low and come with some risks, such as illiquidity
Highly functional and user-friendly on both platforms.	Mobile App and Desktop	The platform has a highly-rated mobile app available for both Android and iOS, offering full functionality and ease of use on the go
Reports of slow response times can be a significant drawback.	Customer Service	CoinSwitch provides customer support through online forms, with decent response times. However, there is no direct email or phone support, which can be limiting for urgent issues
Efficient processes, though some reports of delays with fiat withdrawals.	Deposit and Withdraw	Deposits and withdrawals are straightforward on CoinSwitch, with various methods available. However, fees and processing times can vary depending on the method used

Key features

Analysis tools

Similar to Binance with advanced charting and indicators

No significant trading tools, mainly an aggregator

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Staking, recurring buys, OTC trading, educational resources

Instant crypto swaps, CoinSwitch Earn, CoinSwitch Kuber app, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

100+

300+

User-friendliness

Binance US provides a user-friendly platform similar to its global counterpart, tailored to the US market. The interface is clean and intuitive, making it easy for new traders to get started with cryptocurrency trading.

CoinSwitch provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides great value for money with low trading fees and a wide selection of cryptocurrencies tailored for the US market.

Delivers good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

United States

India, United States, Canada, United Kingdom, Australia

Best for

Best for US-based traders looking for a reliable and user-friendly platform with low fees and a wide selection of cryptocurrencies.

Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, BTC, USDT

BTC, USDT (varies by transaction)

Account

Trading

Binance US offers a streamlined version of Binance for American users, providing a good selection of cryptocurrencies and competitive fees. It maintains high security standards, though the variety of coins is less extensive than the global platform.

CoinSwitch is an aggregator platform providing access to multiple exchanges through one interface. It supports a wide range of cryptocurrencies but charges additional fees for its service.

Deposit and withdrawal

Binance US offers similar deposit and withdrawal methods to its global counterpart, including bank transfers and credit/debit cards. Withdrawals are typically processed within a day, with competitive fees.

CoinSwitch is an aggregator that provides access to multiple exchanges through one interface. It supports various deposit methods, and withdrawals are processed efficiently with low fees.

Account opening process

Binance US has a similar account opening process to its global counterpart. Users need to provide personal details, verify their identity, and the process is usually completed within a day. It’s user-friendly and secure.

CoinSwitch offers a straightforward and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick, usually taking less than a day to complete.

KYC required?

Yes

Customer Service

Binance US offers support through email and live chat, similar to its global counterpart. The support team is responsive, and assistance is available 24/7, ensuring users get timely help.

CoinSwitch offers customer support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

Binance US provides strong security with 2FA, encryption, and cold storage. It is regulated by the U.S. financial authorities, ensuring high security for investors .

CoinSwitch provides robust security with 2FA and encryption. Despite its strong security measures, the platform lacks regulation from major financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend Binance US for its strong security measures and high liquidity, which make it a reliable choice for both new and experienced traders. The platform’s user-friendly interface and responsive customer support enhance the overall trading experience, although the absence of an exchange card is a minor drawback. Overall, Binance US stands out for its robust performance in the US market.

Xavier Tarrasó

As an expert on our website, I highly recommend CoinSwitch for those new to the cryptocurrency market. Its user-friendly interface makes it easy to navigate, even for beginners. The platform offers an impressive range of over 300 cryptocurrencies and supports more than 45,000 trading pairs, allowing for diverse trading opportunities. Security is also a strong point, with advanced measures such as two-factor authentication and cold storage in place. Although transaction fees can be slightly higher, the convenience and breadth of options available make CoinSwitch a valuable tool for anyone looking to start or expand their crypto trading journey.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.