Bitvavo vs Binance: What are the differences between Bitvavo and Binance?

Bitvavo vs Binance, which trading platform is better? Bitvavo and Binance are two crypto trading platforms with very different approaches. Bitvavo is a Netherlands-based exchange that is very accessible and offers a simple interface for beginners with limited transaction types. Binance, on the other hand, particularly supports advanced users and offers international traders hundreds of currencies and multiple trading options, but has a steep learning curve if you are new to the crypto world.

On the other hand, you pay lower trading costs on Binance and you can also trade in derivatives. So there are a lot of differences between both platforms, but which one should you choose if you want to trade in crypto currencies?

We have therefore compared Bitvavo vs Binance for you and compared different aspects of the trading platforms such as the different functions, the fiat currencies they accept and the crypto currencies, the ease of use, the different transaction types and the customer service.

The different functions of the platforms

Because the platforms have been set up from a different idea, you will notice differences in their function sets. Below, we have listed some of the different functions for you.

Binance features

The Binance platform offers:

  • A reward centre offering challenges and promotions as a way to earn crypto
  • Advanced charts with hundreds of indicators and overlays
  • Public API keys for integrating other software tools
  • More than 13 different transaction types
  • The option to use a third-party digital wallet and Trust Wallet
  • Users in more than 180 countries able to trade on Binance

The Bitvavo platform offers:

  • Different dashboards for beginners and more experienced traders. You don’t need any specific prior knowledge to get started at Bitvavo, and if you want advanced options just open the advanced interface.
  • Easy payment options such as iDeal which allows you to transfer money to your Bitvavo account quickly and easily.
  • All the credit in your Bitvavo account is insured, so if something goes wrong you will get your credit back.
  • Reliability due to registration with DNB.

Bitvavo vs Binance – The crypto currencies

Binance is widely known for its huge range of crypto currencies that can be traded. At the moment, you can choose from approximately 500 different altcoins. Bitvavo has been around a little less time than Binance, and therefore has a smaller supply of crypto currencies. Currently, you can trade around 175 different crypto currencies at Bitvavo. Bitvavo supports all major and well-known coins, as well as a number of smaller coins that are less well-known. At Binance, on the other hand, you can find all kinds of exotic coins that you cannot find anywhere else.

As for fiat currencies, Binance supports 19 fiat currencies, including the USD, EUR, AUD, GBP, HKD and INR. Bitvavo, on the other hand, only supports the Euro.

By the way, you should know that Binance is a ‘crypto only’ trading platform and therefore does not offer Euro trading. Bitvavo, on the other hand, allows you to deposit Euros directly into your account and buy crypto currencies directly, which is very convenient.

Bitvavo security 2fa

Bitvavo vs Binance – Security

Although both platforms are considered safe, Bitvavo has a registration with De Nederlandse Bank. Binance, on the other hand, has no registration with DNB and is actually illegal in the Netherlands, which can cause you problems as a Dutch user. Bitvavo is of Dutch origin and Binance was once founded in China before moving to Japan and is not regulated. Bitvavo therefore has an edge over Binance in terms of security.

As for fiat currencies, Binance supports 19 fiat currencies, including the USD, EUR, AUD, GBP, HKD and INR. Bitvavo, on the other hand, only supports the Euro.

Bitvavo vs Binance – Costs or fees

In terms of trading fees, Binance has the lowest in the industry, while Bitvavo’s prices are in the mid-range. Binance’s fee table is based on a maker-taker structure which has the same fees for makers and takers. At Binance, there is a difference between taker and maker fees, and you pay between 0.02 and 0.10% in trading costs, while at Bitvavo it is between 0.05 and 0.25%. Binance can charge such low transaction fees because of the huge trading volume they offer. This makes Binance more attractive to traders who place large orders.

Bitvavo vs Binance – Ease of use

Binance and Bitvavo are aimed at different types of users. Bitvavo offers a simple interface for investors who are new to crypto currency trading and want quick, easy and safe ways to trade. If you want more trading options, you can easily switch to Bitvavo’s advanced interface.

Binance’s platform in itself is not that difficult to use, but the huge number of choices can be a bit overwhelming for a new user. Binance is therefore more suitable for people who are familiar with crypto jargon and the various investment options, while Bitvavo is more built for simple trading.

Both trading platforms also offer mobile apps with different functionalities. Binance’s app seems to work better on an iPhone than on smartphones running Android.

Support and customer service

Binance has the Binance Academy, where users can go if they are looking for tutorials or useful articles similar to crypto trading courses. In addition, both Bitvavo and Binance offer a blog and a frequently asked questions section.

In terms of customer service, at Binance you can get in touch with the helpdesk via live chat, Twitter or you can email them if you need help.

The Bitvavo helpdesk can also be reached via live chat and email, but the big advantage of Bitvavo is that you can ask your question in English. Bitvavo can also be reached via Twitter, Instagram and Facebook.

Final conclusion: Bitvavo is the best

When comparing Bitvavo vs Binance, we come to the conclusion that in our opinion Bitvavo is the best trading platform. Of course, Binance has a larger trading volume and lower trading costs, but in our opinion,  it does not outweigh the ease of use of Bitvavo. The fact that as a beginner you can easily start trading because of the beginner interface, that you can pay with iDeal and immediately buy crypto currencies, that the support is in Dutch and that Bitvavo is registered with the Dutch bank so you can legally trade in Crypto currencies are decisive for us in our final verdict: Bitvavo is the best.

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