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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 Relai 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
- Self-custodial wallet: your bitcoin is in your own wallet from the first purchase
- Savings plans daily, weekly or monthly; a new monthly plan gets one fee-free purchase of EUR 50 to EUR 100 a month
- Buy straight to a Ledger, Trezor, BitBox or Coldcard hardware wallet
- MiCA authorization from France's AMF for the EU company
- Bitcoin only: no other cryptocurrencies
- A 1% service fee plus a margin in the price whose size Relai does not publish
- 3% extra for card, Apple Pay and Google Pay payments
- No order book, no limit orders, no staking
- Mobile app only for retail clients
Features Comparison
- Cryptocurrencies
- Derivatives
- Bitcoin
0.1
%
0.10%
0.10%
Varies
1
%
1.00%
1.00%
No fee
416
+
$
0
1
+
$
50
- 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
- Savings plans (daily, weekly or monthly)
- Buy straight to a hardware wallet
- One fee-free purchase of €50 to €100 a month from a new monthly savings plan
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.
Everything Exchange vs Bitcoin-Only App
Relai is a Bitcoin-only app built for simplicity: buy BTC after a quick verification and have it sent directly to your wallet. Binance is the world's largest exchange with over 400 cryptocurrencies and every feature imaginable. They couldn't be more different in approach.
The Simplicity Trade-off
Relai scores a perfect 10/10 for beginner friendliness. The app does one thing well: you buy Bitcoin and it goes to your wallet. No complex interfaces. No learning curve.
Binance scores 8/10 for beginners. There's a learning curve with all those features, though educational materials help. Most users figure it out, but it takes time.
What You Can Buy
Relai offers exactly 1 cryptocurrency: Bitcoin. That's it. If you want anything else—Ethereum, altcoins, stablecoins—look elsewhere.
Binance lists over 400 cryptocurrencies plus derivatives, staking options, and DeFi exposure. No comparison in breadth.
The Fee Question
Relai charges a 1% service fee (0.9% with a referral code), plus 3% for card payments. Users note the fees are relatively high compared to exchanges, but you're paying for simplicity.
Binance runs 0.10% maker and taker—significantly cheaper per trade. But you need to verify your identity first.
Privacy and Control
Bitcoin transfers directly to your personal wallet upon purchase—you're never trusting the platform with custody.
Both require identity verification: Relai asks EU customers for an ID document, a selfie and their address, and Binance requires KYC in most jurisdictions. Your crypto stays on the exchange until you withdraw it.
Savings Plans
Relai's core use case is Bitcoin savings plans—regular automatic purchases that average out price volatility over time. The app is designed around this long-term accumulation strategy.
Binance offers recurring purchases too, but as one feature among hundreds rather than the central focus.
Choosing Your Path
Relai at 7.5 is perfect for users who want Bitcoin only, value self-custody, and want the simplest possible path to self-custody. Pay more per trade for that simplicity.
Binance at 9.4 is for everyone who wants options—more coins, lower fees, more features. The rating gap reflects capability difference, not quality within each platform's scope.
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.
