Choosing which cryptocurrency exchange to use for your activities within the blockchain scene is an important decision. Different platforms provide varying services, cover a range of geographic locations, and charge a variety of prices.
A good exchange is a matter that is subjective to the user as one platform may have features that are essential to one person and non-essential to another. Other exchanges may be a perfect fit but not available within the users’ jurisdiction.
There’s a lot to consider when determining and comparing several crypto exchanges, and in this guide, we are focusing on two of the most popular exchanges: Binance and Bison.
Main Differences between Binance vs Bison
| Features | Binance | Bison |
| Ease of use | Binance’s platform is easy to use, but the sheer number of choices can be overwhelming to a new user | Bison is user friendly, easy to use and have good customer support. |
| Compatibility | Binance is compatible with Mac, Linux, iPhone, ipad and Andriod | Bison is compatible with only iPhone, iPad and Andriod |
| Founded | Binance was founded 2017 | Bison was founded 1860 |
| Audience | Binance has more audience base with Crypto traders and crypto holder from over 190 countries and region | Bison has a low audience base with Crypto traders alone |
» MORE: What’s Better for You, Binance or Bittrex?
Binance vs Bison- Features
Some of the features and capabilities of Binance are:
Cross collateral
This is an innovative feature that allows users to collateralize their crypto assets to borrow against another crypto asset. This feature provides users the flexibility to utilize their crypto assets to borrow Tether (USDT) at a daily interest rate between 0.004% to 0.04%. Subsequently, the borrowed funds can be used to trade futures contracts on the Binance Futures platform
Leaderboard
This is a fusion of social networking and cryptocurrency trading that allows users to view and follow the positions of the best traders on the platform.
Some of the features and capabilities of Bison are:
Reliability
With Bison you stay on top of your investments, the market, and the prices. BISON provides you with all the necessary information needed for your smooth entrance into the crypto world.
Simplicity
Bison is simple and intuitive, you don’t need a wallet, a deposit etc., and you don’t have to deal with any tedious paperwork. There are no complicated technical barriers or processes. All you need is an account with BISON and you are ready to go!
» MORE: Which is better for you, Binance or Bybit?
Binance and Bison: Pricing
Binance Pricing
Like any trading platform, Binance charges fees for certain trades and services. Understanding the Binance platform and its fee structure helps you keep costs down. Binance offers some of the lowest fees in the crypto exchange market, making it a favorite among traders. Here’s are some transaction price
Purchase Fees
If you choose to buy your cryptocurrencies with a debit or credit card, you can expect to pay up to 4.5% in fees. Because of these fees, you’re better off using other payment methods.
Wire transfers, on the other hand, come with no transaction fee but are not available everywhere.
Trading Fees
Binance charges a 0.1% fee for trading on the platform as well as a 0.5% fee for Instant Buy/Sell, so your actual fee amount will depend on the amount of the trade. The higher the transaction, the higher the fee. One way to lower your trading fee is to keep some Binance Coin in your account at all times so your fees can be taken from that. Doing this fetches you a 25% discount on all trading fees.
» MORE: Binance vs Bison: Which Is Better For You?
Bison Pricing
The minimum deposit in the Bison app is 20 euros. However, there is a big minus point in the payment methods: you can only make a deposit by bank transfer. Accordingly, you have to deposit your current account and top up the account.
Deposits and withdrawals at Bison are free of charge. However, spreads are incurred when trading cryptocurrencies. E.g Bitcoin is 0.75%, Ethereum is 0.75%, Litecoin is 0.75% and Ripple is 0.75%
» MORE: Between Binance and Trust Wallet, which is better for you?
Reason to choose Binance over Bison:
There are so many reasons to pick Binance over Bison. First of all, there is a larger selection of coins available on the Binance exchange. Specifically, there are more altcoins available on the platform than any other platform. Second, Binance offers lower exchange fees than many other platforms. A third reason to choose Binance over Bison is that it supports multiple languages so that investors from around the world can use the exchange. Binance has a lot more coins to offer with almost all being paired to BTC and many also with ETH, making it easy to switch from one coin to another. Bison offers only 20 pairs with no ability to directly trade between them. If you need a lower fees and better exchange rates, go for Binance
Reason to choose Bison over Binance:
Binance might be the most used cryptocurrency platform but for some the Bison app is, without question, a better option than Binance due to the intuitive design and easy-to-use interface make trading easy for newcomers to the cryptocurrency market. Bison has a better reputation than Binance for maintaining a safe and legitimate platform for cryptocurrency trading. Also, Bison implementation of a protocol called Offchain Order Pooling allows traders to make more trades within a single order than it would be possible through traditional exchanges such as Binance. With its friendly nature, a beginner in the crypto world should start with Bison.
» MORE: Between Binance and Gate.io, which is better for you?
The Similarities between Binance and Bison
The similarities between Binance and Bison include their ability to adapt to users’ needs, their commitment to transparency and their historical life cycle. They provide a place for you to trade and invest in cryptocurrencies, although Binance has a more widespread reach with more than million users from over 180 countries. Bison provides its users with tools that let you monitor currencies, scroll through news feeds and take advantage of technical analysis. Both have been around for a long time, but both are still growing stronger than ever.
» MORE: Which is better for you, Binance or eToro?
Binance and Bison Alternatives
The Cryptocurrency Exchanges solutions below are the most common alternatives that users reviewed for Binance and Bison.
Binance Alternatives are:
- Coinbase Exchange
- UPHOLD
- Poloniex
- LocalBitcoins
- Kucoin
- HitBTC
- NiceHash
- Bittrex
- CEX.IO
- Bitfinex
Bison Alternatives are:
- Zengo
- Abra
- Coinsmart
- Bitvavo
- Nuri
- BSDEX
- Jubiter
- Bitcoin.co.id
- Pintu
- Switchere
- Folgory
- Bitcoiva
- CoinCasso
- Xcoins
- Young Platform
- CoinMate
- BUX
- Rekeningku
- BuyUcoin
- Exodus
» MORE: Binance vs. Bitpanda: Which Is Better For You?
Binance vs Bison: Final verdict
It’s likely that you have access to one or both of these exchanges, depending on your requirements and where you live in the world. They are both popular for different reasons. One is recognized for being well established in a highly regulated jurisdiction, while the other is known for offering almost all the features that their users need while making them available to a wider audience.
To determine which one may be better for your given situation, you must understand the prons and cons of each platform and go for what is best for you.
» MORE: Between Binance and Kucoin, which is better for you?
FAQ
How does BISON make money?
BISON does not charge any fees. BISON makes money from the margin between the buying and selling prices shown in the app.
What is the upper limit for buying or selling cryptocurrencies in BISON?
At BISON, buy and sell orders are limited to 100,000 €. If you want to buy or sell cryptocurrencies for more than this amount, you can do this with multiple orders of up to 100,000 €. You can make as many purchases and sales as you like every day.
How do I withdraw money from Binance?
Sign in to your Binance account and select the “Wallet” tab. Select “Withdraw (Fiat),” then choose the currency you wish to withdraw. Choose “Bank Card (Visa).” Enter the amount of money you want to withdraw in the “Amount” field.
» MORE: Binance: Is It Safe? How Trustworthy & Legit Are They Actually?
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