FTX or Binance?

[DaC0nsumeR]

So I've migrated to FTX basically because my impression is that the counterparty risk is considerably less... ie SBF seems less sketchy than CZ. Not sure if my instincts are right about this, but I am willing to hear any opinions about the matter.

But I have to be honest, I MUCH prefer the Binance trading terminal layout, especially for margin trading. I have yet to do any margin trading on FTX, but it looks like you have to open an entirely new window to see your liquidation price. And what about the Repay feature? How does it work with FTX, do they just automatically repay when the trade hits your Take Profit?

[BitMaxz]

You didn't mention what FTX is exactly you talking about there is FTX exchange and Blockfolio which is recently rebranded to FTX.

I actually only use their app Blockfolio for tracking but never use their investment function or trading function.
I won't trade on FTX if you compared them with Binance(Never heard FTX exchange before just now) so I will choose Binance for safety. I know Blockfolio is known safe but it doesn't mean that using their own trading platform will be also safe.

However, since there are few people here already given some reviews about this I will think a bit to use their trading platform.
Check the big review here https://bitcointalk.org/index.php?topic=5350943
And it seems that they don't ask for a Bitcoin withdrawal fee according to some users?

[Hamphser]

You didn't mention what FTX is exactly you talking about there is FTX exchange and Blockfolio which is recently rebranded to FTX.

I actually only use their app Blockfolio for tracking but never use their investment function or trading function.
I won't trade on FTX if you compared them with Binance(Never heard FTX exchange before just now) so I will choose Binance for safety. I know Blockfolio is known safe but it doesn't mean that using their own trading platform will be also safe.

However, since there are few people here already given some reviews about this I will think a bit to use their trading platform.
Check the big review here https://bitcointalk.org/index.php?topic=5350943
And it seems that they don't ask for a Bitcoin withdrawal fee according to some users?

Agree into this one.I havent heard out about FTX until you had elaborated that this was Blockfolio which had been my tracker app for how many years already but i wasnt unknown that FTX exchange.

In torn between FTX and Binance? Then i would go with Binance 100% without any doubt even though lets say that FTX is also good but it hadnt really able to established out their reputation

which is totally to far in gap with Binance but well we do have our own preferences and choices though then its up to you whether you do push it out or not.

[mk4]

FTX simply because I think it's the exchange that is safer from the authorities compared to Binance which is pretty much always in the legally grey area. Not to mention the significantly lower(or sometimes free) withdrawal fees on FTX.

I still far prefer Binance's UI/UX tho.

[Mpamaegbu]

You didn't mention what FTX is exactly you talking about there is FTX exchange and Blockfolio which is recently rebranded to FTX

I believe that OP is referring to the FTX exchange and not its crypto tracking app.

And it seems that they don't ask for a Bitcoin withdrawal fee according to some users?

It's okay if they don't ask for withdrawal fees. It's just a strategy to get more customers on their platform since it's relatively a new one. It's the same way Binance started out in 2017 when it came on board. And today, Binance ranks top on the exchange list. Its trust rating has grown over the years.

Well OP, you just put FTX in a handicap match with Binance by asking that question as which to choose if faced with option of picking one of them. A lot of traders will go for Binance. I will go for Binance too.

[NeuroticFish]

"If it's not broken, don't fix it". I am still fine with Binance. When this will change, I'll look for something else. I don't have FTX account yet and I'm not eager to do tests.
Maybe this doesn't sound helpful, but I want to make you take into account people's.. inertia. Too many may prefer Binance just because they're already there.
This could change over time, but not as soon as some predicted.

[Wexnident]

FTX looks interesting, I haven't heard of it before but just checking it out seems like it's pretty okay. I'd reckon it's a nice exchange but I'm biased with Binance since it's been the one I'm using for quite some time now. I see no reason to leave really, it's not like there's much difference in KYC requirements when it comes to both exchanges, and as for the tools, I'm not really one to actually nitpick them so I'm fine with whatever as long as it works for what I want to do. I'd still go for Binance ngl.

[CryptopreneurBrainboss]

Exactly, I don't understand why people buy too much into those marketing strategy of having free things. I prefer paying for something provided I'm having the best experience ever. These new companies only use this tricks to attact customers to their platforms and as soon as they get enough customer they stop and change their terms and conditions instantly.

Both are centralized exchange so what's the different, I still have to give up my privacy to be able to enjoy the benefits of both exchange. Binance has more track record so why leave them. Yes they're getting attacks from government but don't forget only the best are usually attacked. How's the customer care service on both exchange, I haven't used FTX so I don't have any ideas but so far Binance has no flaw excluding the obvious disadvantages of using a centralized exchange.

Binance support more cryptocurrency obviously which increase the trading choices for traders and has more years of operation so traders should favor binance over FTX automatically.

[niccolo_21]

consider Kraken instead. I know it doesn't get the same temporary hype as other exchanges have done over the years (Bitmex, Binance, now FTX) but it looks like a solid exchange.
May be not the same volume, but even lower fees than FTX for futures trading

[blockman]

I'm still preferring to stay with Binance but when things got to rap in binance then I'll go elsewhere like FTX but I still have no experience this exchange.
So with my experience on Binance, I'm good as it is right now when it comes to layout and the customer experience when I've needed someone to assist me with my deposit, they've helped me in just a few minutes.

[michellee]

Before selecting the exchange, the first thing you should know is how you feel about one exchange when you trade because that is important. We selected one exchange as our favorite because we found the convenient thing we do not get from the other exchanges. So far, I have suggested Binance for beginners as Binance has many altcoins to trade. But if you move your coins to FTX because you found benefits than in Binance, that means you can get your convenience in FTX than Binance.

[taufik123]

FTX or Binance are exchanges that both provide convenience for trading. We all know Binance is currently a very popular crypto Exchange and even the Best Exchange for Altcoins right now.

If I had to choose FTX or Binance, I would say that they both have their advantages. Binance has many excellent features and with many altcoins already listed.
Meanwhile, FTX has the advantage of cheaper fees and is a popular derivatives exchange managed by the young genius Sam Bankman-Fried.

Check out the FTX and Binance comparison below.

Exchange Comparison
https://www.cryptowisser.com/exchange/ftx/vs/binance/

[arbifahrozy]

I mostly know about the binance, which is quite simple to trade in, and through which you can easily withdraw your money, also I must say for the beginners it is as simple as he can use it. And the forth most thing is the security of the binance which is has a strong security system, and can be very awesome for trading as compared to FTX.

[DarkDays]

"If it's not broken, don't fix it". I am still fine with Binance. When this will change, I'll look for something else. I don't have FTX account yet and I'm not eager to do tests.

Agreed, FTX is huge but I still stick by Binance. Binance may not be the best due to all the local legal restrictions but at least it is obliging and in the long term I do not see a way out of this. Sooner or later there will be no way of evading this.

However, both exchanges are good with high volumes and trusted, and usually it is all about user preference!

[Evgenklm]

each exchange is good in its own way, but the binance has recently been very bent under the regulators, mandatory verification has been introduced, many do not like it, at any time regulators can ask for any information from the exchange, and I doubt that the binance will refuse them, and I am not very familiar with FTX, I traded a couple of times, did not consider anything unusual, except that the withdrawal was free at one time, I liked it.

[Quidat]

"If it's not broken, don't fix it". I am still fine with Binance. When this will change, I'll look for something else. I don't have FTX account yet and I'm not eager to do tests.

Agreed, FTX is huge but I still stick by Binance. Binance may not be the best due to all the local legal restrictions but at least it is obliging and in the long term I do not see a way out of this. Sooner or later there will be no way of evading this.

However, both exchanges are good with high volumes and trusted, and usually it is all about user preference!

Same here.Ive been a Binance user for years and im long time verified so i dont worry about that KYC thing that they had imposed recently to be mandatory.All of trading stuffs and features is already
here which i dont really see any reason on why would i leave out with this exchange and try something new.Its not that shit actually since it do came from in a known service but establishing reputation
is something that cant really be attained in short time but having this one is really still a good option to have.

[GreatArkansas]

I am using both but I only most using Binance when I am more interacting with fiat currency like converting your fiat currency to cryptocurrency or converting your cryptocurrency to fiat. Because Binance supports different fiat countries from different country especially their P2P trading.

While on FTX, I'm thankful that Binance supports withdrawal from Tron Network and Solana Network on USDT, so I can easily transfer my funds to FTX and do some trading there.
User interface is good on Binance but the performance sometimes I really don't appreciate it, compare to FTX.

[mobtc]

I’m sorry I haven’t heard of the FTX exchange，I have always used Binance Exchange,I am also using its Binance Chain to buy new altcoins every day.
Binance is still very convenient.

[OcTradism]

I’m sorry I haven’t heard of the FTX exchange

Really guys? FTX is quite famous even they are a young exchange and need to grow up more to catch up with Binance. Do you know Solana project and its blockchain?

FTX is one of backers of Solana project and they opt-in Solana for their exchange deposit and withdrawal. They are too generous with fee and you can check with FTX's Blockchain deposits and withdrawals

I have always used Binance Exchange,I am also using its Binance Chain to buy new altcoins every day.
Binance is still very convenient.

Binance is big and months ago, Binance Smart Chain was launched successfully and were favorite chain of people when Ethereum network was congested and had too high fees.

Now, fee on BSC is becoming to be expensive and Binance have yet resolved it. Will they be able to resolve it or fail like Ethereum? And it will be time for younger chains to show off, like Solana and FTX exchange?

[Rikafip]

I actually only use their app Blockfolio for tracking but never use their investment function or trading function.
I won't trade on FTX if you compared them with Binance(Never heard FTX exchange before just now) so I will choose Binance for safety. I know Blockfolio is known safe but it doesn't mean that using their own trading platform will be also safe.

It's actually the other way around, as FTX exchange bought Blockfolio app back in may 2020 for $150M and then recently renamed  it to FTX. Another interesting info; Binance was among early FTX investors but their CEO Sam Bankman-Fried decided to buyback the shares and distance himself from Binance. Smart move imho.

FTX simply because I think it's the exchange that is safer from the authorities compared to Binance which is pretty much always in the legally grey area. Not to mention the significantly lower(or sometimes free) withdrawal fees on FTX.

Yep, pretty much this. I still mostly use Binance though, but with all the current restrictions I am starting to have some doubts about them so I think it's a good idea to have contingency plan, which in my case is FTX.

Really guys? FTX is quite famous even they are a young exchange and need to grow up more to catch up with Binance. Do you know Solana project and its blockchain?

I am also surprised that so many people here don't know about FTX. They remind me of Binance from those early days several years ago. On top of that, people keep forgetting that Binance is not that old as well.