Category Archives: Binance
Binance vs. Coinbase: Which crypto exchange is right for you? – Yahoo Finance
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Binance.US and Coinbase are two of the most popular cryptocurrency exchanges around, so which should you choose? The answer depends on what exactly you need, which crypto coins you want to trade, how much youre willing to pay for commissions and other key factors.
Coinbase and Binance.US are both major players among established cryptocurrency exchanges. In this article well refer to Binance.US the American arm of the larger Binance organization as Binance. Well compare it to Coinbase Advanced Trade, which offers much lower costs than the basic Coinbase service, though well refer to it as Coinbase.
Heres how Binance and Coinbase compare on some of the most important factors to traders.
The most significant cost youre likely to pay are your trading fees, and if youre doing a lot of it, those can certainly add up. Fortunately, its the norm for most exchanges to offer discounts based on your 30-day trading volume. However, Binance even goes one better than that.
Both Coinbase and Binance use a maker-taker pricing structure, charging based on whether you add liquidity to the market (makers) or remove liquidity from the market (takers). So trading fees generally differ not only on your volume but also the type of trade you make. However, Binance allows you to dodge the commissions on Bitcoin and Ethereum trades entirely.
Heres how each exchange breaks down on its fees. Binances commission depends on which coin youre trading: Bitcoin and Ethereum (Tier 0) or less popular coins (Tier 1).
The pricing structure below is for coins that are not Bitcoin and Ethereum.
30-day volume
Maker
Taker
Less than $10,000
0.40 percent
0.60 percent
$10,000 $50,000
0.25 percent
0.40 percent
$50,000 $100,000
0.15 percent
0.25 percent
$100,000 $1 million
0.10 percent
0.20 percent
$1 million $20 million
0.08 percent
0.18 percent
$20 million $100 million
0.05 percent
0.15 percent
$100 million $300 million
0.02 percent
0.10 percent
$300 million $500 million
0 percent
0.08 percent
$500 million and up
0 percent
0.05 percent
30-day volume
Maker
Taker
Less than $10,000
0.40 percent
0.60 percent
$10,000 $50,000
0.25 percent
0.40 percent
$50,000 $100,000
0.15 percent
0.25 percent
$100,000 $1 million
0.10 percent
0.20 percent
$1 million $15 million
0.08 percent
0.18 percent
$15 million $75 million
0.06 percent
0.16 percent
$75 million $250 million
0.03 percent
0.12 percent
$250 million $400 million
0 percent
0.08 percent
$400 million and up
0 percent
0.05 percent
The results are neck and neck: For coins that arent Bitcoin or Ethereum, Binance and Coinbase have headline commissions that are nearly the same amount, with the exception of a few pockets in the pricing structure. For 30-day volume up to $15 million, youre paying the same headline rate. But theres a wrinkle: Binance will cut your fees a further 25 percent if you use BNB, its own in-house coin, to pay for trading fees.
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For example, imagine youve placed $25,000 in trades in the prior 30 days and you want to place another $10,000 trade. At Coinbase youd pay 0.25 or 0.40 percent as a maker or taker, respectively, for a total cost of $25 or $40. In comparison, youd pay the same amount at Binance for that trade, unless you paid with BNB, cutting the fees to $18.75 and $30, respectively.
Advantage: Binance offers a clear advantage on whats likely to be the largest group of ongoing fees youll pay. In addition to this little extra discount, Binance allows you to trade the two biggest-volume coins for free: Bitcoin and Ethereum. Given their predominance for traders, it seems like Binance would be the clear choice.
The straight numbers look to be in Coinbases favor in terms of how many total kinds of coins are offered by each exchange. At our last count, Coinbase gives traders access to 253 coins, while Binance offers access to 153, or about 60 percent as many as its rival.
But all that choice is like a buffet: If you dont want to trade a specific coin, it doesnt matter if its there or not. So how do these exchanges compare on the top 12 coins by market capitalization? A comparison there might tease out some differences. On that basis, Binance is slightly better, offering all 12 the top coins, compared to Coinbases 10. Both offer Bitcoin, of course, and the difference is that Binance offers BNB, the coin powering Binances own ecosystem, and XRP.
Advantage: Coinbase gets the edge here.
Over the last year, Binance has made real improvements on the number of coins available in its staking rewards programs, really outdistanced its rival Coinbase.
Staking rewards provide crypto owners a chance to receive income for supporting the token as part of the verification process. Typically, an exchange simply deposits your income, net of any fees, into your account. Coinbase and Binance take a commission on your rewards.
Coinbase allows staking on six coins, including Ethereum, one of the largest coins, as well as Solana and Cardano. It also allows other rewards, via DeFi (not available in the U.S.), on a handful of other coins, as well as what it calls cloud staking on more than 15 coins. Cloud staking is a somewhat different and more advanced process, however.
Binance supports staking on 27 coins, including Ethereum, Cardano and Solana.
As for how large those staking rewards are? A spot check shows Binance offering consistently higher rewards on the handful of coins that they have in common.
Advantage: Binance beats out Coinbase on the number of coins supported in the core staking rewards program, and offers higher rewards on those that they have in common. Naturally, for those who hold coins supported on one platform but not the other, a specific exchange may end up being better for them.
Neither Coinbase nor Binance charges deposit or withdrawal fees for ACH deposits in U.S. dollars. On wire transfers, Binance does a bit better, with no charge for wire deposits and a $15 withdrawal fee for domestic wires. For its part, Coinbase charges $10 for wire deposits into its accounts and $25 for wire withdrawals.
Advantage: Binance offers a better fee structure here, both for ACH fees and even wire fees. However, if you plan to use wires frequently, Binance would be the clearly better outfit.
Customer support at crypto exchanges seems to be mostly an afterthought, though it has improved over the last year. Coinbase has grown its efforts here recently, adding 24/7 phone and chat support, much-needed features to prior options that included only email and a support ticket. Plus, if you see suspicious activity, you can call customer support to lock your account (though it raises the question of why this feature is needed, when traditional stock brokers seem to have no such issues.)
Binance offers support tickets and recently added 24/7 online chat, which perhaps is part of the price you pay for its very low trading costs.
Advantage: With a variety of support options, Coinbase looks like the clear winner here.
On whats probably the single most important feature of an exchange cost Binance gets the win. Low trading costs played into Binance being named the best crypto exchange by Bankrate.
However, on the finer details, such as available coins, Coinbase wins outright or has a small advantage. In a comparison of Coinbase to Binance then, the true winner may be the exchange that fits your needs best whether thats low trading fees, widest selection or better support.
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Binance vs. Coinbase: Which crypto exchange is right for you? - Yahoo Finance
Learn CryptoTax 101 with Binance Australia – Business News Australia
Binance Australia has announced the launch of its new video series CryptoTax 101 aimed at educating Australian cryptocurrency traders and investors on the country's tax regulations, including Bitcoin and other cryptocurrencies.
The video series will provide a simple explanation of the complex world of crypto tax in Australia and is set to feature experts from Cadena Legal, Crypto Tax Calculator, and Koinly.
In the first video of the series, the question of whether crypto is taxable in Australia is addressed.
The short answer is yes, but it depends on the type of crypto activity undertaken. The ATO recognises two types of taxes that traders and investors need to be aware of: capital gains tax and income tax.
The series' second video focuses on what isn't taxable in crypto, with many transactions being treated as tax-free by the ATO.
The video goes on to explore cost basis and how to calculate it when doing crypto taxes, a term that is often thrown around when it comes to tax.
The third video in the series looks at tax implications for spot trading crypto, which is one of the most simple transaction types, referring to the direct purchasing or selling of crypto assets on exchanges like Binance. The ATO's guidance on how to treat spot trading is fairly clear.
The video series also covers advanced crypto tax topics, such as staking, airdrops, liquidity pools, chain splits, gifts, ICOs, and wrapped tokens. Harrison Dell from Cadena Legal presents Advanced Crypto Tax Part 2.
In the coming weeks, Binance Australia will release more videos, including Crypto Tax Structures Explained and Do I Get Taxed on Lost and Stolen Crypto?
The former will explain some of the most common tax structures discussed online, highlighting their benefits and disadvantages, while the latter will explore what happens for tax if a trader's crypto is lost or stolen.
The educational video series is an excellent resource for Australian crypto traders and investors looking to stay compliant with the ATO's tax regulations. The series will provide a foundational understanding of how crypto tax works and how it could impact one's crypto holdings and trading activity.
The video series is available on Binance Australia's YouTube channel, and interested parties can click on any video to get started.
Binance is a global cryptocurrency exchange and has a significant presence in Australia, with Binance Australia being the local subsidiary.
The exchange is among the top crypto exchanges worldwide, with a strong focus on providing secure and transparent trading services to users.
Read more on the Binance Australia blog here.
Disclaimer
This content is for general information purposes only, not investment advice. Cryptocurrencies, including Bitcoin, are volatile and fluctuate on a day-to-day basis, thus, trading requires proper diligence and sound judgement in order to evaluate the risks associated.
Nothing in this video constitutes investment or legal recommendation, nor should any data or content mentioned in the newsletter be relied upon for any investment activities. You should consider seeking independent legal, financial, taxation or other advice to check how the video content information relates to your unique circumstances.
Binance Australia is not affiliated, associated, endorsed by, or in any way officially connected with any individual or organisations mentioned in the video. Binance Australia is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly by use of this newsletter and expressly disclaims any and all liability for any loss or damage you may suffer.
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Learn CryptoTax 101 with Binance Australia - Business News Australia
Binance Coin, Polygon and Big Eyes Coin – Three Long-Term … – NewsWatch
Since the bear market began last summer after crypto markets crashed alongside global financial markets, many crypto investors have found a way to generate profits despite the obvious disadvantages in the crypto market. A switch from short-term cryptocurrency investing to long-term cryptocurrency investing has proved largely successful in the current climate.
It could continue to generate positive results long into the bear market. Unlike short-term investing, long-term cryptocurrency investing allows crypto assets to vest over a long period, accumulating profits and staying safe from the harsh realities of the bear market. All these reasons make long-term cryptocurrency investing a go-to strategy in times like this.
The first quarter of 2023 is shaping up nicely, thanks to several brief spells of bullish activity within the crypto market, providing a unique opportunity for crypto investors to generate massive returns early into the new year. Long-term cryptocurrency investing in highly promising cryptocurrencies is the current wave in the industry, and this piece suggests three cryptos that every crypto investor should consider. Heres what makes Binance Coin (BNB), Polygon (MATIC) and Big Eyes Coin (BIG) fantastic long-term cryptocurrency investment options in the ongoing bear market.
Popular crypto exchange platform Binances native cryptocurrency, Binance Coin (BNB), is one of the many cryptocurrencies pumping within the crypto market thanks to the recent spell of bullish activity within the cryptocurrency industry. The token is notable within the cryptocurrency industry for low gas fees, trading fee discounts, and fast confirmation and processing times. It also plays an integral role in the Binance ecosystem, facilitating crypto operations such as network governance, user interaction and staking.
Binance is the cryptocurrency industrys largest centralized exchange platform and possesses the largest crypto stock. Its native cryptocurrency, Binance Coin (BNB), is listed on top crypto platforms within the industry, such as Binance, Coinbase and Huobii Global.
MATIC, the native cryptocurrency of Ethereum (ETH) scaling and infrastructure development platform, Polygon, is attracting massive interest amongst crypto investors within the industry after experiencing a huge pump within the crypto market thanks to the recent spell of bullish activity. The token is a highly attractive cryptocurrency with fast transaction speeds and confirmation times that make it ideal for crypto operations within the industry. MATIC plays a huge role in the Polygon ecosystem, where it provides utility and facilitates crypto operations, such as network governance, user interaction and payment fees.
The MATIC token is a top twenty cryptocurrency by market cap and has stock listed on top crypto platforms within the industry, such as Binance, Coinbase and Huobi Global.
Ethereum (ETH) based meme coin, Big Eyes Coin (BIG), has become the subject of interest within the cryptocurrency industry after surpassing $30 Million in presale. The token joins an elite class within the cryptocurrency industry that has achieved this feat and is now an ideal option for long-term cryptocurrency investing that crypto investors ought to consider. Big Eyes Coin (BIG) boasts several attractive features, such as a massive supply (one billion tokens) and gas fee-free transactions, all of which make the token ideal for all crypto operations.
Big Eyes Coin (BIG) is currently on presale and is a low-cost option that crypto investors should consider in the current climate. For more information on the token, click any of the following links.
For More Information On Big Eyes Coin (BIG), Click The Links Below:
Presale: https://buy.bigeyes.space/
Website: https://bigeyes.space/
Telegram: https://t.me/BIGEYESOFFICIAL
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Binance Coin, Polygon and Big Eyes Coin - Three Long-Term ... - NewsWatch
Crypto Wallets Tied to FTX Abruptly Move Over $102,000,000 To Binance, Coinbase and Kraken – The Daily Hodl
Crypto wallets associated with the collapsed FTX exchange have been spotted moving over $100 million to major exchanges.
According to the blockchain-tracking firm Lookonchain, three addresses related to FTX and its trading arm Alameda are making millionsof dollars worth of stablecoin transfers.
The 3 addresses related to FTX/Alameda transferred 69.64M USDT to the address 0xad6e, among which 43M USDT was transferred to Coinbase, Binance and Kraken.
And transferred 75.94M USDC to Coinbase Custody Wallet.
Lookonchain says the three addresses sent $69,640,000 worth of Tether (USDT) to one address, 0xad6e. Then, $43,000,000 worth of that USDT was sent to top crypto exchanges Coinbase, Binance, and Kraken. Finally, $75,940,000 worth of Circles stablecoin, US Dollar Coin (USDC), was sent to a Coinbase Custody wallet.
Lookonchain also further clarifies the importance of these three wallets in the wake of 2022s massive FTX crash.
After the FTX/Alameda crash, all assets were collected at these 3 addresses
FTX filed for bankruptcy last November after its native asset collapsed, and it was forced to halt customer withdrawals. Former FTX CEO Sam Bankman-Fried isfacing115 years in prison after being accused of defrauding investors and mishandling customer assets.
Featured Image: Shutterstock/mystel
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Ethereum’s Liquity (LQTY) up 40% as Binance’s Multimillion Holdings Unveiled – U.Today
Gamza Khanzadaev
Black-yellow crypto giant becomes second biggest holder of LUSD issuer's native token
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The price of Liquity, LQTY, has risen by more than 40% since the beginning of the week, reaching $3.37 per token, its highest value in 12 months. The price action has made LQTY one of the most profitable crypto assets of recent days among the top 200 by market capitalization. One of the reasons for the renaissance of both Liquity and its native token, which havebeen off the radar for two years, could be the crisis in the stablecoin sector, when many big players turned their attention to the protocol.
Among those big shots is global leading crypto exchange Binance, which has already managed to become the second largest holder of LQTY. As it turns out, the black-and-yellow exchange has managed to stack more than 11.5 million tokens in its wallets over the past four days, which equates to 11.5% of the total LQTY supply.
As a reminder, Liquity is a decentralized borrowing protocol built on Ethereum (ETH) that uses its own stablecoin pegged to the dollar, LUSD. Users can receive interest-free loans in LUSD in exchange for collateral in ETH. LQTY, on the other hand, serves the function of paying commissions to the protocol and rewarding its contributors.
After first BUSD, then USDC, experienced problems and their position in the sector faltered, many began to seek a safe haven in LUSD, causing the stablecoin's capitalization to rise by 38.5% since the start of the year.
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Ethereum's Liquity (LQTY) up 40% as Binance's Multimillion Holdings Unveiled - U.Today
Binance Research Reviews February Crypto Trends: Arbitrum, Blur … – BSC NEWS
Arbitrum foundation announced the date for the $ARB token airdrop & DAO governance and 12.75% of community allocation to be distributed on March 23. ARB holders will vote on decisions governing Arbitrum One & Nova networks.
Arbitrum announced to launch of its much-awaited DAO governance and its native $ARB token on March 23.
Today The Arbitrum Foundation is extremely excited to announce the launch of DAO governance for the Arbitrum One and Arbitrum Nova networks, alongside the launch of $ARB. https://t.co/TB3wG0QK0v
According to the Arbitrum Foundation, the launch of $ARB marks the evolution of Arbitrum into a decentralized autonomous organization (DAO). Thus, $ARB holders will be able to decide on key decisions governing Arbitrum One and Arbitrum Nova - networks that provide faster and cheaper transactions on the Ethereum blockchain.
The total circulation of $ARB will be 10 billion. A total of 56% of those tokens will be controlled by the arbitrum community - 11.5% will be distributed to the Arbitrum community, and 1.1% will be distributed to DAOs operating in the Arbitrum ecosystem. Arbitrum DAO will control the distribution of the remaining community tokens through a treasury.
The other 44% of Arbitrum's circulation will go to Offchain Labs - the firm that built Arbitrum. All investor and team tokens are subject to a 4-year lockup, with the first unlocking happening in one year and periodic unlocking throughout the next three.
The Arbitrum Foundation and Offchain Labs worked closely with Nansen throughout the past several months to develop eligibility criteria $ARB token airdrop. They developed a point system based on various metrics of network usage.
Users of both Arbitrum One and Arbitrum Nova both received points. Moreover, early users of Arbitrum One (before Nitro) received more points. Users with three or more points are eligible for the airdrop. However, points were also deducted from users who engaged in Sybil-linked usage patterns.
You can check the point system and discover more about the eligibility criteria here.
Users who want to be part of Arbitrum's governance but do not wish to vote on-chain actively can participate passively through delegation.
Furthermore, Arbitrum included a second mechanism in the form of DAO airdrops, as a way of extending token distribution to new and infrequent users. In accordance with this, only Arbitrum projects with DAO treasuries are eligible.
Among the exceptions to the DAO airdrop was the inclusion of the Protocol Guild, an organization that represents the Ethereum core developers and contributors.
The ARB token will only be used for protocol governance, unlike ETH, which is used to pay Ethereum (and Arbitrum) fees.
The DAO governance in Arbitrum is self-executing, which means its votes will directly effect and execute on-chain decisions without the involvement of an intermediary. The voting process requires a minimum of 2137 days to pass before a proposal can be executed, ensuring users are given time to react to any changes.
Additionally, the Arbitrum Foundation established the Arbitrum Security Council, a 12-member multisig of highly regarded community members that would monitor the security of the chains and can act rapidly when a vulnerability is found. At some point, the DAO can also retire the Security Council if it decides the chain no longer needs its protection.
The Arbitrum foundation also announced the launch of Arbitrum Orbit, a platform for developers to easily and permissionlessly create their own Layer 3 (L3) blockchains. Additionally, Arbitrum Orbit L3 chains will support Arbitrum Stylus, which allows developers to build chains in C, C++, Rust, as well as Solidity.
The Arbitrum DAO will be able to authorize additional Layer 2 chains on Ethereum, regardless of whether they are governed by $ARB, ensuring full community control of Arbitrum.
The Arbitrum One platform was upgraded to Nitro in August. Moreover, a few months ago, Arbitrum announced that ten independent institutional validators had signed up to validate the platform.
The community is exited with the recent announcement.
Congrats to the team, this is huge.
You took your time but you delivered.
According to L2 Beat, Arbitrum has $3.63 billion in TVL in its Ethereum rollup network, Aribtrum One.
Arbitrum is an Ethereum layer-2 network that enables developers to build and deploy highly scalable smart contracts at low cost. You can use Arbitrum chains to do all the things you do on Ethereum use Web3 apps, deploy smart contracts, etc., but your transactions will be cheaper and faster. The flagship product for the team, Arbitrum Rollup, is an Optimistic rollup protocol that inherits Ethereum-level security.
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Binance Research Reviews February Crypto Trends: Arbitrum, Blur ... - BSC NEWS