These are the two big names in the world of trading, yet, each of them has its own specialization. Nevertheless, eToro has decided to extend its sphere and add crypto trading to its functionality by introducing a new platform — eToroX. That step has puzzled many traders as, now, they cannot decide which of these two services is better for crypto speculations.
In general, there is no hesitation that both of the two services are definitely worth exploring. Both of them can boast a huge bunch of exclusive benefits that distinguish them from competitors and ensure deep loyalty among users. However, your choice will depend on your trading interests, style, and capital in the first place.
Thus, to outline the specific niche of each source, let us discuss the key opportunities and functions provided by eToroX vs Binance:
eToroX:
- fewer crypto are supported — 28;
- no derivatives, NFTs, or ETFs are offered;
- leverage — 1:1;
- a minimum deposit limit — $50;
- trading fees are included in spread — 1%;
- 0% deposit commissions;
- $5 withdrawal commissions;
- copy trading for beginners and passive investors;
- passive profits from staking;
- decent regulation;
- no bonus programs;
- additional profits from invitees — $30 per each user after his $100 deposit;
- account protection through 2FA authentication;
- indicators and drawing instruments for efficient market research;
- a demo account for testing and training;
- a support team is unavailable on weekends.
Binance:
- 396 cryptos are offered;
- futures, options, NFTs, ETFs are also supported;
- leverage — up to 1:100;
- a lower entering threshold — a minimum deposit is $10 only;
- local commissions are much cheaper — maker/taker fees range from 0.1% and lower (for bigger volumes);
- 0.1% deposit fees;
- 0.12–0.24% withdrawal commissions;
- a huge selection of account currencies — 13 fiat ones and over 50 crypto coins;
- staking;
- a mining pool is available;
- no regulation by official bodies;
- two-factor authentication is also provided;
- diverse technical indicators;
- risk-free demo trading;
- qualified support is available 24/7;
- referral bonuses — 40% of commissions paid by invitees.
To sum up, it looks like Binance can boast a wider range of advantages over eToroX. In practice, due to extremely low fees and multiple promo programs, it is considered a number-one choice among all crypto exchanges. Furthermore, its huge selection of assets will satisfy even the most advanced trader. Meanwhile, eToroX is a safe option for beginners, especially those who plan trading both fiat and crypto currencies — it offers a single profile for that. Another unique benefit is copy trading, which will come in handy to those seeking passive income.