Binance and BingX are both platforms that deal with cryptocurrency, but they offer varying services and options to their users.
Binance is known for being the largest cryptocurrency exchange in terms of trading volume, with average daily trades reaching over $1 billion. The company was founded by Changpeng Zao in China in 2017, but was later relocated to Japan due to legal issues. It is now registered in the Cayman Islands and has 40 other offices in 38 countries, including Canada, the UK, Germany, and France.
Although Binance is not available in the US, it has partnered with Binance.US, a version of the original company catering to American investors.
Binance offers a wide range of products, including a crypto-to-crypto trading platform that supports 500 digital currencies and tokens, such as Bitcoin, Litecoin, Ether, and Dogecoin. It also has its own virtual token called Binance Coin (BNB), which can be used to pay for various transaction fees and services on its Binance Smart Chain.
BingX, on the other hand, operates as an international digital financial institution with branches in North America, Canada, the EU, Hong Kong, and Taiwan, and has received regulatory approval to operate in other countries. They offer financial services such as lending, borrowing, and staking, as well as buying and selling of cryptocurrencies. They also have referral programs and trading competitions to attract customers and a feature called copy trading, where users who lack time or are new to cryptocurrency can choose a trader and follow their trades.
In terms of services and features, Binance and BingX have their distinctions and the choice between them depends on the user’s needs and preferences. It is advised to research both platforms thoroughly and seek advice from financial advisors before making any investment decisions.