Recently there has been a surge in the questions of many crypto enthusiasts on choosing the best between StormGain and Binance. And why won’t there be? Both are among the most prominent names in the cryptosphere that has grown exponentially.
To make hefty profits and grow in the market, it is crucial to choose the best as well as familiarize yourself with the features they come with.
And that is why I am here with an in-depth comparison of both these exchanges based on multiple criteria, and I will tell you everything you need to know before getting your hands on them.
So without any further delay, let’s begin with a brief introduction about them.
Introduction: StormGain vs Binance
Beginning with StormGain, one of the most recent exchanges founded in 2019 that has grown tremendously in a very short time. The company was set up in Seychelles and is headquartered in London, England.
This exchange platform has been mentioned in many profound mainstream media houses from around the world as one of the best emerging fintech start-ups. The company is also a prestigious member of the Blockchain Association of the Financial Commission.
On the contrary, Binance is a well-known name in the cryptosphere. The company entered the crypto market in 2017 and has become the largest cryptocurrency exchange with a fast, elegant trading ecosystem for both beginners as well as for experienced traders.
The variety of features and functionality the exchange offers is just phenomenal, which is the core reason for the exchange’s extraordinary growth.
StormGain vs Binance: Supported Cryptocurrencies
Let’s now discuss what crypto assets StormGain and Binance have to offer.
StormGain crypto wallet supports all of the popular digital assets to look for in the market, which include:
- Bitcoin Cash
- USD Coin
Binance, on the other hand, supports more than a whopping 350 digital assets as well as over 50 trading pairs on numerous blockchain networks. The wide collection includes all your favourite crypto assets, which are:
- Dash (DASH)
- Cosmos (ATOM)
- Compound (COMP)
- Solana (SOL)
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Cardano (ADA)
StormGain vs Binance: Product Offerings
Now, let’s discuss what products are offered by these amazing platforms to fit your trading needs.
Starting with StormGain, the products it offers are:
- Over-the-Counter Crypto Trading
- Leverage Trading
- Multi-Currency Crypto Wallet
- Options Trading
- Crypto Indices
Moreover, StormGain offers floating leverage of up to 500X for the BTC/USDT pair and 100X leverage for LTC/USDT, XAU/USDT, XAG/USDT, BCH/USDT, ETH/USDT and three different crypto indices.
Coming to other trading pairs, StormGain offers up to 50X leverage. StormGain provides minimum leverage of 5X on all trading pairs.
On the other hand, Binance offers one of the broadest products offerings as well; let’s have a look at these:
- Futures Trading
- Margin Trading
- Options Trading
- Spot Trading
- Binance Savings
- Binance Launchpad
Binance allows you to use your crypto holdings as collateral to borrow money.
Moreover, you can borrow up to 10X of your assets, and funds with a value of more than 2X of your total debt can be transferred. Depending on the exchange you trade on, you can borrow up to 100 times your account balance.
Verdict: Clearly, Binance is the winner in this criterion as it offers a wider range of product types.
StormGain vs Binance: Order Types
When it comes to ordering types, both StormGain and Binance stand head to head, letting you take advantage of the crypto market in variable price trends.
Beginning with StormGain, this platform provides all the vital order types that include:
- Market Order
- Limit Order
- Stop-Limit Order
Now coming to Binance, the exchange offers both advanced and basic order types giving you an upper hand in variable market conditions which include:
- Market Order
- Limit Order
- Stop-Limit Order
- Trailing Stop Order
- One-Cancels-the Other Order (OCO)
Verdict: Both these platforms are quite competitive in this segment, but Binance, with some of the advanced order types, has the edge over StormGain.
StormGain vs Binance: Fees Comparison
Now let us quickly discuss what pricing these platforms come at.
StormGain- Trading Fees
The fee structure of StormGain exchange can be categorized into 3 sections, which are:
StormGain charges a flat fee of 10% from your profitable trades and zero commission for over-the-counter trading.
- Crypto Deposits/ Withdrawals
The platform doesn’t charge you any deposit fees. However, when you withdraw a fee, depending on the currency, a minimum fee is charged. Additionally, each withdrawal costs you a flat 0.1% fee as well.
- Debit/Credit Cards Deposit Commissions
StormGain charges a flat 5% fee when you deposit funds using your debit/credit card. The maximum deposit amount depends on the asset you choose to deposit.
Binance – Trading Fees
Binance, on the other hand, also classifies its free structure into 2 different sections, which are:
If you don’t hold BNB tokens, then the exchange charges a flat 0.1% fee. However, if you hold BNB tokens, your trading fees will automatically be deducted from your BNB balance as well as get a 25% discount.
- Deposit/ Withdrawal Fees
Binance doesn’t charge you deposit fees as, well. However, withdrawal fees on Binance are dynamic and are automatically adjusted. For current withdrawal fees on Binance, please click Fee Schedule.
Verdict: Both platforms are pretty competitive in this criterion. However, StormGain’s fee structure is more affordable and simple to understand, making it the winner in this segment.
StormGain vs Binance: Account Funding Methods
StormGain and Binance provide various account funding methods. Let’s discuss them now.
Beginning with StormGain offers two simple methods:
- Method 1: Use your credit card via its SIMPLEX service, which is well-reputed and known for its security.
- Method 2: Deposit directly from any of your existing wallets.
You can deposit from the wallet section by selecting the desired crypto asset. Then select the ‘Get’ option. Now select your preferred method of funding using a QR code or credit card.
On the contrary, Binance offers a wide variety of funding methods as well, which are:
- Method 1: Funding directly through your existing crypto wallets, crypto conversions, or buy/sell crypto options.
- Method 2: Use your bank account through ACH, Wire transfers or the good old debit cards.
StormGain vs Binance: Trading Platform Comparison
Let’s discuss what additional features, as well as the UI and UX, you can expect from these amazing exchanges.
It has a quite unique yet powerful interface with a smooth and beginner-friendly design which makes it easy to trade in different markets. The interface consists of four separate windows, which are:
- Technical Analysis Charts
- Order Book
- Recent Trade Widgets
- Order Form
These windows make it easy to trade where you just need to choose your trading pair and then click ‘Open Order’. Moreover, you can place all its numerous order types with technical indicators, customizable layouts and trading tools for advanced technical analysis.
Additionally, it also comes with a professional chart, where you can choose between bar, line as well as candle stick chart types for viewing and select between 9 different time-frames varying between 1 min to 1 month for an in-depth yet comprehensive analysis.
Moreover, for your ease, it has categorized different indicators by oscillators, trends and volatility. StormGain also provides a sentiment indicator that shows the sentiment of a particular asset based on active trades.
This feature helps determine market sentiment and price trends, therefore placing a long or short trade accordingly.
Binance, on the other hand, offers a professional trading system with a beginner-friendly and smooth engine. The Binance team has done a marvellous job in designing its interface, which includes all the intuitive charting systems with multiple order types, multi-timeframe analysis, various charting systems as well as several indicators.
Binance also has a mobile application that provides a seamless trading experience on the go.
StormGain vs Binance: Account Types
KYC on StormGain is mandatory, and the account types can be classified into two; Real and Demo accounts. To be able to trade on the platform, you must get verified by the exchange by submitting your identification details.
In order to be verified under the KYC regulations, you need to submit the following data:
- Full Name
- Date of Birth
- ID or passport scan
On the other hand, Binance offers three different levels of account types based on your account’s verification level, which are:
For this level, you will be asked for basic information like your email, password and your address giving you the benefits like.
- Max 2 BTC withdrawal per day.
- USD 300-lifetime crypto purchase as well as fiat deposit limits.
- USD 300-lifetime fiat withdrawal.
Here you need to provide a government-issued ID and facial verification to enjoy multiple benefits like:
- Max 100 BTC withdrawal per day.
- USD 50,000 daily crypto purchases as well as fiat deposits.
- USD 50,000 daily fiat withdrawal.
- Perks like Binance Card, OTC and P2P.
At this level, you need to provide intermediate verification information and proof of address. The confirmation requires ten days, after which you can take advantage of the following:
- No BTC withdrawal limits
- USD 200,000 daily crypto purchases limit and fiat deposits
- Perks like Binance Card, Over the Counter, and P2P
- USD 200,000 daily fiat withdrawals
StormGain vs Binance: How to get started?
To start your journey with this amazing exchange, follow the steps below:
- Click the “Create an account” tab present at the bottom of the window.
- Enter your email, phone number, and password and then click the checkboxes accepting the terms and conditions as well as that you are not a citizen of the US.
- Then click the ‘Register’ button completing the account registering process. Eventually, a verification link will then be mailed to your registered email address; click it to verify your account.
- In the ‘My Wallet’ section present on the right side of the window, click ‘Deposit’.
- Select your desired amount and verify your email with your phone number to make your first deposit. Now you are ready to trade.
Coming to Binance, go through the steps below:
- Enter your email or phone number and a secure password in the sections provided in the window.
- Now verify yourself in order to make a fiat deposit and withdrawal by providing your basic information documents and uploading a selfie.
- On your desktop, click the ‘Buy Crypto’ option, then select your card to deposit. On the application, go to the ‘Wallets’ section under Overview, and tap deposit.
- Select the desired fiat currency from the list, and select the Bank Card under the payment options.
- Enter the desired amount you want to deposit and select your preferred credit or debit card, then confirm the transaction once prompted.
StormGain vs Binance: Customer Support
Customer Support on StormGain has been highly reputed by many of its users. The team is quite responsive and is available 24×7 at your service. The website also consists of a dedicated section that includes FAQs and tutorials that comes in pretty handy for beginners.
Similarly, on Binance, customer support is highly appreciated as well. You can raise your query via live chat, Facebook, Instagram, Telegram, Twitter, Reddit, Weibo, VK and YouTube. It also has a huge trader community and provides round-the-clock support.
StormGain vs Binance: Security Features
Security on StormGain is top-notch, with the industry’s best security features. It is equipped with SSL encryption, PCI-DSS, Real-time monitoring, quarterly security audits, two-factor authentication and GDPR compliance which makes the platform impenetrable.
Binance, on the other hand, offers the latest and the most advanced security features that make it quite secure and safe. Features like cold wallet storage, withdrawal authorization and two-factor authentication are quite standard on the exchange.
Additionally, Binance also offers an Insurance Fund and Secure Asset Fund for Users (SAFU).
- Is StormGain safe?
StormGain is undoubtedly a safe and legitimate platform that implements top-of-the-line security features that protect the platform from any hacks or cybersecurity breaches.
- Is Binance safe?
On the other hand, Binance is a brand in the cryptoverse that is a reputable and massive cryptocurrency exchange. It implements the most advanced security features and offers insurance making your investments untouchable for anyone but you.
Both StormGain and Binance are excellent trading platforms available in the cryptosphere. Both platforms are well established, keeping your funds definitely safe and letting you trade with optimum profitability.
When choosing one among them, if you are a beginner trader and new to crypto trading, you should definitely choose StormGain, as it comes with an easy-to-use interface.
On the other hand, if you are an experienced trader looking for advanced trading features and more crypto assets to trade in, you should choose Binance.
Moreover, if you are a trader from the US, you can check out Binance.US, a dedicated platform from Binance for users from the US.