Swissborg vs Binance | Best Platform To Buy Crypto For Europeans?

When it comes to trading fees, Binance charges a spot maker fee of 0.1% and a spot taker fee of 0.10%. When it comes to futures trading, Binance offers a maker fee of 0.02% and a taker fee of 0.04%.

These fees are very competitive and fall well below the industry standard. However, what makes Binance even more attractive is the opportunity for traders to lower their fees.

If monthly trade volumes exceed $1 million or if users hold at least 25 BNB tokens, trading fees on Binance can be decreased. This provides an incentive for traders to engage in higher trading volumes or hold BNB tokens in their portfolios.

Now let's switch gears and focus on Swissborg. The exchange offers different types of trading fees, including exchange fees and thematics fees.

The exchange fees range from 1% to 0.25% depending on the account status of each user. For example, users with a Standard account (lowest level) will have a higher fee compared to those with a Genesis account (highest level).

As for thematics fees, they range from 2% for standard accounts to 1% for Genesis accounts. Binance as such offers much more competitive spot trading fees than Swissborg. This makes Binance the obvious choice for users that do not want to overspend for basic buying and selling.

Swissborg and Binance are both popular cryptocurrency exchanges that offer a range of deposit methods for fiat currencies. However, there are some differences between the two exchanges in terms of the fiat currencies supported and the deposit fees.

Swissborg supports four fiat currencies: EUR, GBP, CAD, and CHF. For GBP deposits, users can make use of Faster Payments (FSP) or Swift transfers.

For EUR deposits, SEPA is the recommended method. And for CAD and CHF deposits, users can use Swift transfers. Additionally, Swissborg also allows users to deposit funds with Visa or Mastercard, although there is a minimum fee of 5 EUR and the fees range between 1.5% to 4.5%.

On the other hand, Binance supports a much wider range of fiat currencies, totalling 26 in number. Some of the supported fiat currencies on Binance include USD, EUR, AUD, GBP, SEK, DKK, PLN, and many others.

The deposit methods for fiat currencies on Binance include bank transfers via Swift, Signet, SEPA, and Faster Payments (FSP). Users can also make fiat deposits using Visa, Mastercard, PayID, and Advacash.

However, it's important to note that there are deposit fees associated with different deposit methods on Binance. For instance, fiat currencies deposited with Visa and Mastercard incur a 1.8% fee, while bank transfers via SEPA come with a 1 EUR fee.

If users have an Advcash account, they can deposit with a 1.5% fee.In terms of fees, Binance charges a fee for fiat deposits made with Visa, Mastercard, SEPA, and Advcash, while Swissborg offers free deposits from a bank account.

Binance provides multiple options for withdrawing fiat currencies. Users can withdraw USD via SWIFT, EUR via SEPA, and GBP via Faster Payments (FSP).

Binance charges a 1.8% withdrawal fee for fiat withdrawals made with Visa and MasterCard. For SEPA withdrawals, there is a fixed fee of 1 EUR, while bank withdrawals with other fiat currencies are free of charge.

When it comes to withdrawing cryptocurrencies on Binance, the withdrawal fees are as follows: 0.0002 BTC, 0.000768 ETH, 0.008 SOL, and 3.55 USDT for USDT (ERC-20).

If you wish to withdraw fiat or cryptocurrencies from Swissborg, there is a 0.1% execution fee. Swissborg's fee structure is unique, as the bigger the withdrawal amount, the higher the fee.

This is obviously a way worse method as users who withdraw more have to pay higher fees, compared to the fixed withdrawal fee offered by Binance.

When it comes to cryptocurrency withdrawals on Binance, the withdrawal fees vary based on the type of cryptocurrency. For Bitcoin, the fee is 0.0002 BTC, for Ethereum it's 0.000768 ETH, for Solana it's 0.008 SOL, and for USDT (ERC-20) it's 3.55 USDT.

In conclusion, when comparing Swissborg and Binance, it quickly becomes clear that Binance has the advantage in terms of company size, global reach number of cryptocurrencies and product variety.

Binance offer a much more comprehensive suite of trading and financial services compared with Swissborg. Binance supports over 350 cryptocurrencies compared to only 50 available on Swissborrg.

While Swissborg mainly targets beginners who want a mobile friendly way to buy and sell cryptocurrencies, the trading fees charged by the exchange are much higher than Binance.

While Binance charges a very low spot maker and taker fee of 0.1%, Swissborg's fees range from 1% to 0.25% depending on the user's account status.

Binance also offers opportunities for fee reductions through high trading volumes and token holdings.

Even when it comes to deposit and withdrawal methods, Binance has the advantage of offering various options for both fiat and cryptocurrency withdrawals.

Binance as such is crowned the clear winner in this comparison against Swissborg as it has the advantage in almost every category that we have compared here today!