Compare BTCC vs. Binance: Which is a Better Choice for Canadian Traders in 2024?
By:W, LeahAs crypto market has witnessed huge growth, more and more people start to show increasing interesting in this cryptocurrency. At the same time, many crypto exchanges emerged one after another to follow the market trend, thus puzzling investors who want to select a best exchange to maximize their trading return.
In this article, we will compare Binance and BTCC, two major leading exchanges in the world. We will compare the two exchanges from different metrics, like supported cryptocurrencies, safety, fees, user friendliness, service scope and customer service, so as to offer better insights and useful information to Canadian traders with huge interests in them.
Major Takeaways
Binance: Binance is the largest cryptocurrency exchange in terms of daily trading volume of cryptocurrencies, founded in 2017. With a mission of being the infrastructure provider for crypto in tomorrow,s world, Binance is trusted by millions worldwide, and features an unmatched portfolio of financial product offerings.
BTCC: established in 2011, BTCC is one of the oldest digital asset trading platform, enjoying renowned reputation for its extremely high security and competitive fee structure.
| BTCC | Binance | |
| Supported Cryptocurrencies | 300+ | 350+, but only about 150 are available in the U.S. |
| Safety | Industry-leading security, with no reported hacks or security breaches to date | Although security in Binance is impressive, it once suffered a major hack in 2019 and it once had regulatory trouble in several countries |
| Fees | Compared with other major crypto exchanges, the fees charged by BTCC is relative low, such as only charging 0.06% for both takers and makers | Fees are quite low, especially compared with main rivals |
| User Friendliness | Easy-to-navigate interface, easy for both newcomers and experienced traders | The trading platforms may be not user-friendly despite a broad range of features and trading options, even experienced traders may feel overwhelmed by all the options available |
| Service Scope | Offer service to more than 6 million registered users in more than 100 countries and regions | Offer hundreds of cryptocurrencies for trade globally, but its platform for U.S. users is more limited as it is only available in 46 states |
| Customer Service | Offer excellent customer service via email and live chat | Provide 7/24 customer support in 40 languages |
Conclusion
Although Binance is the largest crypto exchange in the world with excellent portfolio of financial product offerings, we still find some shortcomings of the exchange after comparison, like its regulatory issues, less intuitive interface, etc.
We think BTCC may be a better choice for Canadian investors with less trading experience. Besides, for traders looking for high security, BTCC is better. As a old exchange enjoy good reputation, BTCC is more reliable.
Except for the above-mentioned aspects, BTCC also stands out in other aspects, like high liquidity & volume, flexible leverage up to 150x, rich rewards, etc. We believe join BTCC would make your trading journey more delightful!
＼Deposit and Receive Up to 10,055 USDT!／
How to Trade Futures on BTCC？
The following sets forth the guidance for buying cryptocurrencies on cryptocurrency exchange BTCC:
Step One: go to the BTCC homepage and log in to your BTCC account. If you do not have an account, you need to register first, and then fund USDT in your crypto wallet after registration.
Step Two: go back to the BTCC official homepage, choose “Futures” -“USDT-M Perpetual Futures Contract”, and find the cryptocurrency/USD trading pair.
Step Three: choose the contract trading order type. BTCC contract orders are divided into market orders, limit orders and stop-loss orders.
- Market Order: users place orders at the best price in the current market to achieve fast trading.
- Limit Order: Limit Order is used to plunge to the top/bottom of the market, which is a user-defined bid/ask price. Once the market reaches the limit price, it can be filled.
- Stop Loss Order: Stop Loss Order can be interpreted as a “Breakout Order”, which is an advanced limit order where the user can set a custom bid/ask price. After the market reaches the limit price, it will be closed.
Step Four: adjust the leverage multiple.
Please keep in mind that operating leverage carries the risk of liquidation. Leverage should be adjusted based on your financial status and risk tolerance.
Step Five: choose the lot size and set the stop profit and stop loss price .
Step Six: after setting the basic data information, users can choose to buy (open long) or sell (open short) after entering their ideal price. Traders should remind that the price cannot be higher or lower than the highest buying price or lowest selling price of the platform.
Step Seven: click the buy or sell button, and the crypto contract order is completed.
＼Deposit and Receive Up to 10,055 USDT!／
Note: BTCC provides mode trading and offer mode trading fund. Those who want to try to start cryptocurrency contract trading and are more concerned about the fee (BTCC minimum fee can be 0%), it is recommended to start from BTCC !
＼Deposit and Receive Up to 10,055 USDT!／
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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.
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