0. FTX vs Binance

FTX vs Binance

1. Trading Fee

2. Liquidity and Number of Markets and Exchange

3. Supporting Coins

4. FTX IEO

 

 

1. Binance spot transaction fee is 0.1% for both limit and market price orders. Transaction fee is 0.02% for limit price order (Maker) and 0.04% for the market price order (Taker).

 

 

 

 

 

 

 

 

 

FTX has equal spot and futures trading fees, 0.02% for limit orders and 0.07% for market orders.

 

If you hold FTT coins, you can get a discount on the trading fee as shown below. When you hold FTT, you get various benefits depending on the scale.

 

 

 

FTX supports free withdrawal fees for BTC when withdrawing more than 0.01 BTC. For withdrawals less than 0.01 BTC, withdrawal is free once a day. This is one of the biggest advantages of using FTX.

 

 

 

 

 

2. The average daily trading volume of FTX is about $8 billion, while Binance is over $100 billion.

 

The higher the volume, the greater the liquidity, which leads to a decrease in slippage.(data based on July, 2022)

*slippage: The difference between the ordered price and the contracted price

 

Binance supports over 1600 markets and exchange, while FTX supports about 400.

 

 

 

 

 

3. FTX issues FTT coins; Binance BNB coins.

 

The FTX Token is supported by Almeda Research. Almeda Research is a leading company and the largest liquidity supplier in cryptocurrency trading.

 

 

 

Therefore, FTX is designed by industry-recognized experts and continues to create products that will attract traders' attention, including collateral, margin retention, liquidation processes, and product listing. FTX focuses on a fast development cycle that allows you to build your cryptocurrency trading system at a competitive pace.

 

 

 

FTT is incinerated through the FTX exchange's weekly transaction fee, and all incineration proceeds transparently. It incinerates about $ 60 to $ 70 billion per week, and if you incinerate coins, the number of coins will naturally decrease, which will make it easier to rise when there is an upward momentum. This will have a positive effect on the value of the coin.

 

 

 

4. In Binance, there are various benefits to purchasing a self-issued coin BNB. If BNB coins are staked through Binance Launchpad and BNB Vault, Binance distributes coins in proportion to BNB holdings.

 

 

 

FTX has a similar revenue-generating product called IEO (Initial Exchange Offering). IEO is similar to Binance Launchpad, it lists new coins.

 

However, coins received through IEO in FTX is more profitable when it is sold than the new listed coins received through Binance Launchpad or BNB Vault.

 

In order to participate in the new IEO, you must purchase the FTT token in advance and hold.