Comparison of Binance vs Pointpay [ 2024 ]

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

Your expert: Alejandro Borja

Binance

Your expert: Xavier Tarrasó

Pointpay

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0.05%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.9 – Reasonable fees with additional benefits for crypto banking.

Level

≤0,10%

0.05%

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.

PointPay’s commission structure is designed to be competitive and accessible for traders of all levels. The platform primarily operates on a flat fee model for trading, charging fees that are generally considered lower than the industry average. For instance, PointPay charges a trading fee of 0.05% for both makers and takers, which is appealing because it is below the typical rates found at many other exchanges. This low fee structure is particularly advantageous for active traders who perform frequent transactions, as it helps to keep trading costs down and maximize potential profits. Moreover, the absence of different fees for makers and takers simplifies the trading process, making it easier for beginners to understand and calculate their trading costs upfront without surprises.

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.

Pointpay

Regulation Compliance: PointPay operates under the cryptocurrency laws of the UK and Estonia, providing a regulated environment which enhances user trust and security.
Security Features: The platform employs robust security measures, including two-factor authentication and encrypted communication, to protect user data and funds.
Reputation and Reviews: Since its launch, PointPay has maintained a positive reputation in the cryptocurrency community, supported by favorable user reviews that often highlight its reliability and user-friendly interface.
Customer Service: PointPay offers comprehensive customer support with multiple channels including live chat, ensuring users can get assistance whenever needed.
Innovative Financial Products: The integration of various financial services such as a crypto bank, a multi-currency wallet, and options for crypto-backed loans provides users with a versatile and comprehensive trading and banking experience.

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Account Minimum

Get started with just $100.

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Product selection

Native token

Token BNB

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Binance Holdings Limited

Point Pay Ltd.

Regulation

Not regulated, but faces regulatory scrutiny in several countries.

Not regulated

Year founded

2017

2018

Founder

Changpeng Zhao (CZ)

Andrey Svyatov

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Binance	FEATURES	Pointpay
Binance allows trading with small amounts, accommodating users who wish to start with minimal investments.	Minimum Trade	PointPay allows users to start trading with relatively low minimums, making it accessible for beginners.
Binance offers some of the lowest fees in the industry, with further reductions available when using Binance Coin (BNB).	Trading and Transaction Fees	PointPay offers competitive trading fees which are lower than many other platforms, making it cost-effective for traders.
Supports a broad selection of over 500 cryptocurrencies, catering to a wide range of trader interests.	Number of Cryptocurrencies	While PointPay supports popular cryptocurrencies, its range is narrower compared to larger exchanges. More variety could enhance trading opportunities.
Extensive offering of crypto-to-crypto trading pairs, providing users with great flexibility and trading options.	Crypto-to-Crypto Trading Pairs	The platform provides several trading pairs, but the selection is less extensive than what is found on more established exchanges.
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	PointPay maintains high transparency regarding fees, services, and operational procedures, which helps built trust among users.
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 absence could be a significant drawback for users who seek the convenience of directly spending their crypto holdings in a traditional manner, such as through point-of-sale transactions or online shopping using a card linked directly to their cryptocurrency accounts.
Offers secure storage options with an integrated wallet that supports both cold and hot storage methods.	Storage Offering	PointPay offers secure storage solutions, including a multi-currency wallet that supports various cryptocurrencies.
Provides competitive staking options and rewards, enhancing user engagement and investment returns.	Staking and Rewards	The platform offers staking options, but the benefits and yields are less competitive compared to leading platforms focused on staking.
Both the mobile app and desktop platforms are highly intuitive and fully-featured, suitable for traders of all experience levels.	Mobile App and Desktop	PointPay provides both mobile and desktop applications that are user-friendly and feature-rich, though some users may find the mobile app lacks certain advanced features.
Offers multiple channels for support; however, response times can vary, sometimes leading to delays.	Customer Service	PointPay has a responsive customer service team accessible through multiple channels, although response times can vary during peak times.
Binance facilitates easy and fast deposits and withdrawals, though some users have reported delays with fiat withdrawals.	Deposit and Withdraw	Deposits and withdrawals are handled efficiently, but the options for fiat transactions are limited, which could be inconvenient for some users.

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

Crypto banking, staking, PointPay token (PXP) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

500+

50+

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.

PointPay 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 reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

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 traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, BTC, ETH, BNB, USDT

USD, 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.

PointPay provides a secure platform with a decent range of cryptocurrencies and competitive fees. It offers additional services like staking and loans but lacks advanced trading tools.

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 .

PointPay supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low 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.

PointPay offers 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.

PointPay offers 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 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 .

PointPay ensures security through 2FA, encryption, and cold storage. Despite its strong 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 a cryptocurrency analyst who has extensively reviewed various platforms, I highly recommend PointPay for both newcomers and seasoned traders. Its all-in-one platform is especially beneficial for users looking to manage multiple crypto activities from a single account. The ease of use, combined with robust security measures and a regulated environment, makes PointPay a trustworthy choice. Whether you’re interested in trading, staking, or simply managing a diverse portfolio, PointPay offers a user-friendly and comprehensive solution that caters to all your cryptocurrency needs.

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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.