Are you asking yourself if you should use MEXC or Binance for cryptocurrency trading? Selecting the right crypto exchange can be hard as there are many factors to consider. In this comparison, we share our research about MEXC and Binance. We go over everything you need to know in this MEXC vs Binance, side-by-side analysis. At the end of this comparison, you will know exactly which exchange is right for you!
MEXC vs Binance Overview
MEXC prides itself to offer the most comprehensive crypto futures trading platform, and all that while staying anonymous. MEXC does not require KYC verification and offers the lowest fees for spot and futures traders. The spot fees are 0%, meaning you can trade free of charge on MEXC.
Futures traders are charged a taker fee of 0.01% and maker fee of 0%. No other exchange has fees this low.
Furthermore, MEXC supports over 1800 different cryptos, so you will find everything that you are looking for!
A key downside of MEXC is the lack of FIAT support. The platform currently does not offer on and offramps, so you have to purchase USDT or other cryptos elsewhere and then transfer them over to MEXC. We still think that this is a great option as the trading fees make this procedure absolutely worth it!
- No KYC
- Lowest Fees
- Best Liquidity
- Most Trading Pairs
- More reliable than Binance
- Copy trading
- Lacks FIAT support
- Lacks Financial and Passive income products
Binance Pros & Cons
Binance is the best option for financial products. No matter which passive income product you are looking for, Binance will have you covered. In fact, no other exchange offers the same range of earn products. Crypto enthusiasts can stake, earn, borrow, lend, mine, and even receive cashback with the Binance crypto debit card.
However, in terms of trading, Binance can not compete with MEXC. Binance has much higher fees. The spot fees are 0.1% for makers and takers. The Binance futures fees start at 0.02% maker and 0.04% taker, making Binance more than 4x as expensive as MEXC. Also, Binance is not as reliable and can be very slow at times of high volatility.
- Best and most passive income products
- Most reputable platform
- Fair fees (but much higher than MEXC)
- Most comprehensive FIAT support
- No integrated copy trading
- Requires KYC
- Slow and unreliable trading interface
For crypto traders, MEXC is the superior choice. MEXC offers higher value for money and you can even stay anonymous without KYC. With 0% spot trading fees, futures fees of 0% maker, and 0.01% taker, MEXC Global offers the lowest fees for crypto traders.
Furthermore, the liquidity on MEXC is great.
Lastly, MEXC supports over 1800 different cryptos, making it the most versatile crypto exchange
Where Binance stands out is the wide range of financial products such as staking, mining, liquidity farming, crypto loans, and even a crypto debit card. Another factor that speaks for Binance is the comprehensive FIAT support for over 40 currencies available for deposit and withdrawal. Binance actually offers fairly low fees, however, compared to MEXC they are extremely high.
For active crypto traders, MEXC is definitely the best option.