Comparison of Binance vs Pdax [ 2024 ]

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

Your expert: Alejandro Borja

Binance

Your expert: Xavier Tarrasó

Pdax

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,40%/0,50%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

5.0 – The industry standard for low trading fees and discounts.

3.9 – Competitive fees with strong local support in the Philippines.

Level

≤0,10%

0,40%/0,50%

Brief explanation

Binance, one of the world’s leading cryptocurrency exchanges, is renowned for its competitive and highly favorable commission structure. The standard trading fee on Binance is notably low, starting at just 0.1% for both makers and takers. This fee can be further reduced for users who pay using Binance’s native token, Binance Coin (BNB), which offers a discount, enhancing the utility and attractiveness of holding and using BNB within the ecosystem. Additionally, Binance rewards high-volume traders with a tiered fee structure, which lowers fees significantly as a user’s trading volume increases, dropping the fees to as low as 0.015% for makers and 0.03% for takers at the highest tiers.

PDAX implements a straightforward fee structure which focuses primarily on trading fees and some transactional costs. Trading fees on PDAX range between 0.40% and 0.50%, depending on the specific market order type—whether it’s a maker or taker order. This fee is slightly above the global average for cryptocurrency exchanges but is justified within the context of a regulated exchange operating under the auspices of the Bangko Sentral ng Pilipinas (BSP). Additionally, while crypto deposits are free, PDAX charges variable fees for fiat deposits and withdrawals which are dependent on the chosen payment method, enhancing flexibility for users. This structure ensures that while users enjoy a secure trading environment, they are also aware of the costs associated upfront.

Binance

Security Methods: Binance employs a comprehensive range of security measures, including two-factor authentication (2FA), SSL encryption, and cold storage of the majority of user funds. These methods ensure a high level of security that protects users against potential cyber threats and unauthorized access.
Trading Volume and Liquidity: Binance boasts one of the highest trading volumes among cryptocurrency exchanges worldwide. This high volume ensures excellent liquidity, making it easier for users to execute trades quickly and at desired prices, even for large orders.
Reputation and Reviews: Over the years, Binance has built a solid reputation in the cryptocurrency community. It is highly regarded for its robust platform, innovative features, and responsive customer service. User reviews often highlight the platform's reliability and the breadth of resources available to traders.
Transparency: Binance is known for its transparency in operations, particularly in how it handles updates and communicates with its user base during both regular operations and in crisis situations. This transparency builds trust and ensures users are well-informed about their investments and the platform's practices.
Withdrawal and Deposit Policies: Binance offers clear and user-friendly withdrawal and deposit policies, with a variety of payment methods available. These policies are structured to facilitate easy access to funds while maintaining tight security to prevent any fraudulent activity.

Pdax

Regulatory Compliance: PDAX is licensed and supervised by the Bangko Sentral ng Pilipinas (BSP), ensuring that it adheres to strict financial regulations and provides a secure trading environment for its users.
Security Measures: PDAX prioritizes user security with robust protection mechanisms, including multi-factor authentication and cold storage for the majority of user funds, ensuring safety against potential cyber threats.
Customer Service: PDAX offers comprehensive customer support with multiple channels, including a detailed FAQ section, email support, and social media engagement, ensuring users receive timely assistance and guidance.
Trading Volume and Liquidity: As one of the leading exchanges in the Philippines, PDAX maintains a healthy trading volume and liquidity, which facilitates efficient trading and provides users with better price discovery and trade execution.
Transparency: PDAX operates with high transparency, regularly updating users about changes in service, fee structures, and other essential operational aspects, fostering trust through clear communication.

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Account Minimum

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Direct link to the website

Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Binance Holdings Limited

Philippine Digital Asset Exchange

Regulation

Not regulated, but faces regulatory scrutiny in several countries.

Regulated in Filipinas

Year founded

2017

2018

Founder

Changpeng Zhao (CZ)

Nichel Gaba

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance	FEATURES	Pdax
Binance allows trading with small amounts, accommodating users who wish to start with minimal investments.	Minimum Trade	PDAX allows users to start trading with as little as PHP 50 per single trade, making it accessible for beginners and those with limited capital.
Binance offers some of the lowest fees in the industry, with further reductions available when using Binance Coin (BNB).	Trading and Transaction Fees	The trading fees range between 0.40% to 0.50%, which is moderately competitive within the region but higher compared to global averages.
Supports a broad selection of over 500 cryptocurrencies, catering to a wide range of trader interests.	Number of Cryptocurrencies	Supports over 37 cryptocurrencies, which is decent for a regional exchange but less compared to larger international platforms.
Extensive offering of crypto-to-crypto trading pairs, providing users with great flexibility and trading options.	Crypto-to-Crypto Trading Pairs	PDAX primarily focuses on PHP-to-crypto pairs, limiting options for those looking to trade directly between cryptocurrencies.
The website provides detailed information about fees and policies although some users might find it overwhelming due to the sheer amount of data.	Website Transparency	The website provides clear information about trading fees, minimum trade amounts, and other essential policies, although some users may find certain operational details lacking.
Binance Card offers seamless crypto-to-fiat conversion with up to 8% cashback on purchases, making it a top choice for crypto users.	Credit/Debit Card	This lack of a dedicated card offering means that PDAX users cannot directly utilize their crypto holdings for everyday transactions outside the platform.
Offers secure storage options with an integrated wallet that supports both cold and hot storage methods.	Storage Offering	Provides secure wallet services regulated under Philippine law, ensuring safety for digital assets, though it lacks some of the advanced features found in dedicated crypto wallets.
Provides competitive staking options and rewards, enhancing user engagement and investment returns.	Staking and Rewards	Currently, PDAX does not offer staking services or rewards, which is a significant drawback for users looking to earn through these mechanisms.
Both the mobile app and desktop platforms are highly intuitive and fully-featured, suitable for traders of all experience levels.	Mobile App and Desktop	The mobile app is user-friendly and provides a robust trading experience on the go, although the desktop version could be enhanced with additional trading tools.
Offers multiple channels for support; however, response times can vary, sometimes leading to delays.	Customer Service	Offers multiple channels for support including email and social media, but there are reports of delays and the lack of immediate response options like phone support or live chat.
Binance facilitates easy and fast deposits and withdrawals, though some users have reported delays with fiat withdrawals.	Deposit and Withdraw	PDAX supports various local payment methods, which is convenient for Filipino users. International users, however, might find options limited.

Key features

Analysis tools

Advanced charting tools, a wide range of technical indicators

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Futures trading, margin trading, staking, Binance Launchpad, Binance Earn, BNB token rewards

Staking, fiat on/off ramps, PDAX Prime, institutional services

Anonymity

Key points

Available cryptocurrencies

500+

20+

User-friendliness

Binance is a highly popular platform known for its comprehensive features and user-friendly interface. While it offers advanced tools for experienced traders, its basic version remains accessible and easy to use for beginners.

PDAX features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Offers excellent value for money with some of the lowest trading fees in the industry and a vast array of supported cryptocurrencies and features.

Delivers good value for money with competitive fees and strong local support in the Philippines, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Philippines

Best for

Perfect for all types of investors, from beginners to advanced traders, due to its low fees, vast array of cryptocurrencies, and extensive features.

Best for Filipino investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

USD, BTC, ETH, BNB, USDT

PHP, BTC

Account

Trading

Binance is one of the largest and most popular exchanges, offering a vast selection of cryptocurrencies, advanced trading features, and high liquidity. Its security measures are top-notch. However, the platform can be overwhelming for beginners.

PDAX is a popular exchange in the Philippines, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees.

Deposit and withdrawal

Binance supports a wide range of deposit methods, including bank transfers, credit/debit cards, and a variety of cryptocurrencies. Withdrawals are processed quickly, usually within a few hours, with minimal fees .

PDAX is popular in the Philippines, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Binance offers a seamless account opening process. Users need to provide personal information, complete KYC verification with identity documents, and typically get their account approved within a few hours to a day. It’s secure and efficient.

PDAX provides an easy and quick account registration process. Users need to provide personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

Binance provides extensive customer support through email, live chat, and a detailed help center. Support is available 24/7, and the response times are quick, making it reliable for users globally.

PDAX provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

Binance employs comprehensive security measures, including 2FA, SSL encryption, and cold storage. It is regulated by several financial authorities and has a strong track record, making it a secure choice for investors .

PDAX offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert in the crypto market, I highly recommend Binance for its comprehensive range of features and user-friendly interface. The Binance Card, in particular, stands out by allowing seamless crypto-to-fiat conversions and offering up to 8% cashback on purchases, making it an excellent choice for both new and experienced crypto enthusiasts. Its security measures and vast selection of cryptocurrencies further enhance its appeal.

Xavier Tarrasó

As one of the experts reviewing cryptocurrency exchanges on our website, I’ve taken a close look at PDAX. It stands out as a commendable choice for Filipino investors looking to enter the crypto space. The exchange offers a secure, regulated platform where you can trade directly with the Philippine Peso, making it exceptionally convenient. With a user-friendly interface and the support of local bank transfers, PDAX simplifies the process of buying and selling digital assets. Whether you’re new to cryptocurrencies or seeking a reliable home-market platform, PDAX provides a solid foundation to manage your digital investments.

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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.