Revolut Vs. Binance | Which One To Choose?
You are looking for the best crypto exchange to trade but need help deciding between revolut vs. Binance. To know about the exchanges in depth, it is essential to go through them in detail about both crypto exchanges. Don’t worry; this article has all the information you need.
You will learn about both crypto exchanges by comparing them to different factors. By comparing revolut and Binance, you can decide which suits your needs better.
- Binance has the highest number of cryptocurrencies and the lowest trading fees, making it a better option for traders.
- Binance has a score of 9.8 compared to Revolut’s score of 7.5, indicating a smoother user experience.
- Binance has 120 million active users, while Revolut has 17 million.
- Pros of Binance include support for over 500 cryptocurrencies, P2P trading options, and fiat currency support, while cons include difficulty for beginners.
- Pros of Revolut include a user-friendly interface and support for popular crypto coins, while cons include high fees and limited control over purchased cryptocurrency.
Comparison Of Revolut Vs. Binance 2023:
To understand which crypto exchange is best, you should learn about the factors of each exchange one by one.
Binance was first introduced in 2017, among the most decentralized crypto exchanges founded in China. According to trading value, Binance is the most important day trading crypto exchange worldwide. For the US market, Binance is said to be the designated trading platform, which is readily available around the globe.
There is more than 120 million user base of binance. Moreover, you get a lot of useful crypto trading tools and products with essential crypto-related services. The Binance offers services including Defi staking, liquidity farming, crypto loans, and many more.
On the other hand, it was introduced in 2015. The main of introducing revolut was to provide online and mobile banking platforms for online traders. Revolut is undoubtedly an entirely fledged crypto trading space for investors and traders.
To invest in revolut, you need $1 to start trading, and in more than 200 countries, you can easily find its exchange. On this platform, more than 25 million people have registered now. You can easily register on this platform using any device, like mobile or PC.
Is Binance Better Than Revolut?
If we compare both crypto exchanges revolut and Binance, according to the score comparison, it shows that Binance has a higher score of 9.8. While revolut only has a score of 7.5. Now it is easier to identify that Binance offers a smoother and better user experience.
The most important metric when we compare two crypto exchanges is value for money, as the price will tell you whether the exchange will offer quality. If we compare revolut with Binance here, Binance offers high value for money.
Apart from that, comparing the number of active users is also essential. In this case, revolut has around 17 million active users. Whereas Binance has 120 million.
Pros And Cons Of Revolut Vs. Binance For Crypto:
Analyzing the pros and cons of each crypto exchange will give you a better understanding of which exchange is best for you.
Although Binance has a higher value for money with more extensive active users makes it clear that Binance is somehow better than Revolut, but here are the pros and cons of each exchange:
Pros And Cons Of Binance:
Here are some of the popular pros and cons of Binance;
- A well-known crypto exchange.
- It can easily support more than 500 various cryptocurrencies.
- Two-factor authentication.
- P2P trading options.
- Binance can support fiat currency.
- It may be difficult for the beginner.
Pros And Cons Of Revolut 2023:
Here are some of the popular pros and cons of Revolut;
- User-friendly interface even for a beginner.
- Most popular crypto coins are supported.
- It is growing very fast as compared to other exchanges.
- Many features are best for traders.
- You aren’t considered the holder of the cryptocurrency you just bought.
- Revolut doesn’t support the transfer of purchased crypto.
- Charges a lot of irrational fees.
Features of Revolut Or Binance Comparison:
When choosing the best crypto exchange, the most important factors to analyze are accepted payment methods, supported cryptocurrencies, operating countries, revolut vs. binance fees, overall brand reputation, and many other paid features.
But if you are interested in other specific features, all the above features may look pointless.
Is Revolut Good For Cryptocurrency?
According to a review, revolut is not flexible as other crypto exchanges. Because it doesn’t allow you to move your cryptocurrency anywhere you want.
Moreover, you have to pay a lot of money, including 2.5%, to buy and more than 2.5% if you’re going to sell.
This means you must pay around 5% on buying and selling. That’s not enough, there are also exchange rate fees, and in each way, an investor will give 0.5%.
But if we consider the advantage, the trading method is straightforward for most users.
Yes, you can now transfer crypto from revolut to binance quickly. Indeed revolut is a popular crypto exchange, but it doesn’t let you trade currency. You can convert from one fiat currency to another and later transfer this Fiat money from your bank to the revolut account. After that, you can convert USD or EUR into any crypto token.
Once you are done converting fiat currency into an altcoin, you can transfer this coin to a binance crypto exchange to carry out the actual trading procedure.
Comparing the cryptocurrencies these exchanges accept is also an essential factor. Here we can see that Coinbase accepts more cryptocurrencies than revolut.
In short, according to all evidence, Coinbase is the best crypto exchange with numerous plus points and better quality features for users.
When we search for alternative binance, the significant factors to consider include security and customer service. Different alternatives and competitors of Binance include UPHOLD, Coinbase Exchange, Kucoin, and Poloniex.
In short, if you are wondering which crypto exchange for choosing between revolut vs. Binance, according to the factors considered, Binance makes a better exchange. Apart from that, if we compare revolut with Coinbase, all the factors show that Coinbase is a better crypto exchange for traders.
Moreover, before making any decision, go through various factors like trading fees, the reputation of the brand, supported cryptocurrencies, and different paid features to make your choice better. So before deciding, check all the components properly and then choose.