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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Binance vs Plus500 in comparison
Overview
Binance stands as the preeminent global cryptocurrency exchange, boasting the largest trading volume. Known for its extensive cryptocurrency offerings, competitive fees, and robust features for seasoned users and traders, it also provides a proprietary software wallet, Trust Wallet, for cryptocurrency self-custody.
- Huge selection of coins
- Low fees
- Range of functions
- Might be complex for beginners
- Regulated by CySEC in the EEA, with 17 licenses across the group
- No commission to open or close a crypto CFD
- Negative balance protection and segregated client money
- Long or short on 24 cryptocurrencies, next to shares and forex
- Crypto futures for approved US customers through a separate US company
- No real coins: no crypto withdrawals, no wallet, no staking
- 80% of retail CFD accounts lose money with this provider
- Spreads vary by coin, for example 0.15% on Bitcoin and 4.46% on Polkadot at our latest check
- Inactivity fee of up to USD 10 a month after three months without a login
- Crypto leverage for retail clients capped at 1:2
Features Comparison
- Cryptocurrencies
- Derivatives
- Crypto CFDs
- Stocks
- ETFs
- Currency
- Options
- Indices
- Raw materials
0.1
%
0.10%
0.10%
Varies
0
%
Spread only
Spread only
Not possible
416
+
$
0
24
+
$
100
- 25 % discount on fees
- Earn interest through staking
- Access token sales on Binance Launchpad
Exchange Rating
Functions
- Spot trading, futures trading, margin trading, P2P trading, staking
- Crypto interest through staking & lending
- Functions for professional traders
- Fast and reliable order execution
Company Details
Our Review
Binance is a leading global crypto exchange offering a vast range of cryptocurrencies and low fees, making it ideal for advanced users. Its extensive features include spot, margin, and derivatives trading, as well as staking. However, the platform's complexity can be challenging for beginners, and ongoing regulatory issues may concern some users. Overall, Binance is a powerful tool for experienced traders who prioritize a comprehensive and cost-effective platform.
Crypto Exchange vs CFD Platform
Plus500 is a CFD trading platform—you trade contracts on price movements without owning underlying assets. Binance is a cryptocurrency exchange where you buy and own actual crypto. They serve completely different purposes despite both offering "crypto trading."
The Fundamental Difference
Plus500 doesn't sell cryptocurrency. When you "buy Bitcoin" on Plus500, you're opening a CFD position that tracks Bitcoin's price. You can't withdraw Bitcoin, stake it, or transfer it anywhere. It's a bet on price, nothing more.
Binance sells actual cryptocurrency. You own it, can transfer it to your wallet, stake it, use it in DeFi, or hold it however you want.
Crypto Selection
Plus500 offers CFDs on just 24 cryptocurrencies. Binance lists over 400 actual cryptocurrencies. If you want exposure beyond the most popular coins, Plus500 simply doesn't offer it.
Fees and Costs
Plus500 charges no commission on crypto CFDs; its cost is the spread, which varies by instrument. Variable spreads make true cost calculation difficult.
Binance charges transparent 0.10% maker and taker fees for spot trading with clear withdrawal costs listed.
What Plus500 Does Well
Plus500 offers a clear mobile app, demo account for practice, a large selection of non-crypto financial products (stocks, forex, indices), and PayPal deposits. Users who want multi-asset CFD exposure in one place find it useful.
The platform scores 8/10 for beginner friendliness despite serving advanced users—the interface is clean even if CFDs are complex products.
What Binance Does Well
Everything crypto. Spot trading, futures, margin, P2P, staking, lending, DeFi integration and professional tools. If it involves cryptocurrency, Binance probably offers it.
Who Should Use What
Plus500 at 7.5 suits traders who want CFD exposure to crypto prices alongside other asset classes without dealing with actual cryptocurrency custody. The small crypto selection and variable fees limit its crypto utility.
Binance at 9.4 suits anyone who wants to own and use cryptocurrency. For actual crypto trading and participation, there's no comparison.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
