As a crypto trader or investor, there are only a few things that could bother you other than which crypto exchange, broker, or wallet to use. This headache is born from many of these platforms regularly making enticing updates that could draw you away from the ones you currently stick to.
Of course, the space is competitive, but it becomes a hard decision to tackle for the user. Binance, for example, is the world’s largest crypto exchange, but how does it compare to Bitcoin Loophole, which has continually increased its user base? In this article, we will take you through both platforms’ bits and pieces. What differentiates them? How effective are they, and what exactly do traders need to look for before deciding which to go for? So, stick around as we break down the differences between these two revered platforms. But first, let’s go back in history to see what exactly Binance and Bitcoin Loophole were actually built for.
Founded in July 2017, Binance has become the undisputed largest crypto exchange in the world thanks to the activeness of its CEO and founder Chanpeng Zhao (CZ). Besides attending to millions of people worldwide, Binance created its own exchange coin, called the Binance Coin [BNB] in an Initial Coin Offering (ICO). Today, BNB has beaten a lot of old cryptocurrencies and is ranked the 4th most valuable coin in market capitalisation.
Away from its landmarks, Binance began operations in Hong Kong but now exists in over 100 countries while pushing for more licenses. The exchange offers the highest number of cryptocurrencies, with over 600 as its pairs run into thousands. Users also get access to other services on the Binance platform. Some of these services include staking, the Binance Earn program, and an ATM card for crypto-fiat transactions.
Now, let’s take a step back from the CZ-led exchange and look at Bitcoin Loophole.
No, the “loophole” in the brand name does not imply that the platform is not up to standard. However, there are notable changes in Bitcoin Loophole from how Binance operates. Unlike Binance, Bitcoin Loophole is not an exchange. Instead, it is a means for crypto traders and investors to connect with reputable and experienced brokers worldwide.
So, how do you define Bitcoin Loophole in simple terms? You can refer to Bitcoin Loophole as a modern tool responsible for helping experienced traders and beginners access the crypto market through the guidance of trustworthy brokers. According to Bitcoin Loophole, its platform, and trading software offered by its partners, have assisted hundreds of thousands in reaching their trading objectives.
While it boasts a 93% success rate, investors should still remain careful, especially as the crypto market remains highly volatile. In trading, nothing is guaranteed, and sometimes, greed and improper risk tolerance can scoop up all the profits you have made. So, take promises with a pinch of salt. Now, let’s look at some features of Binance and Bitcoin Loophole.
Benefits of Using the Binance Exchange
For Binance users, only a few platforms can match up to what the exchange offers. This is one of the reasons that the exchange has remained relevant despite the rise of many competitors. So, what are the benefits users get from using Binance? Let’s find out!
You may have heard that some famous platforms have once been compromised. However, rarely would you find Binance in this group. The platform prides itself in securing the holdings of investors whether they own Bitcoin [BTC], Ethereum [ETH], or memes like Dogecoin [DOGE].
This feature may attract you if you are confused about which platform to buy and store your cryptocurrencies. Binance has achieved this with the help of strong Know-Your-Customer (KYC) requirements. As a platform user, Binance ensures that you provide your identity details, so you don’t scam fellow users or hack into any part of its system.
The Peer-to-Peer (P2P) Feature
If there is one problem that has rocked many nations of the world, it is the ability to purchase cryptocurrencies via traditional banks. For example, countries like Nigeria and India with an active crypto community, have been plagued with such challenges. Interestingly, Binance provided an alternative to buy and sell digital assets on the platform by skipping bank debit cards or their network.
Today, the peer-to-peer (p2p) system is widely used by Nigerian residents and citizens of other countries. P2P allows you to trade with another party by agreeing on a price while offering an opportunity to build a business around it.
Several Trading Markets
Another reason millions of traders have adopted Binance is because of the incredible number of trading options offered. Of course, we have mentioned the p2p feature before, but there is more. Apart from that kind of trading, Binance allows its users to get into spot trading. In addition, you can also access the derivatives markets where you can choose to trade futures or options.
However, you should note that trading futures or options contracts require some form of experience or trading. So, if you are a complete beginner, you should avoid jumping into this venture. Trading can sometimes be gloomy, and you can lose all your invested capital. Be cautious!
Key Features of Bitcoin Loophole You Should Know
As you now know, Binance Loophole is way different from Binance, but some features also make it distinct from the global exchange. So, in this section, we will examine some of the features that have made it one of the best broker-connecting platforms globally.
A Demo Account to Learn
Bitcoin Loophole is only one of the few platforms that offers the opportunity for new investors to learn. As a rule, the platform makes sure that it only partners with brokers that offer demo trading. It’s even more interesting that users can get as much as $10,000 in their demo trading account before trying out live trading.
If you are a complete beginner, you get a lot of chances to perfect your trading skills. However, it would be best to remember that practice does not necessarily mean perfect. Hence, you must also work on your emotional intelligence and risk management strategy while learning. You can talk to an investment advisor before committing your capital if that seems too much.
No Worries About Breaking the Bank
If you are familiar with how crypto brokers operate, you would agree that you sometimes need a lot of money to begin. But with Bitcoin Loophole, its partners provide trading platforms that don’t require breaking the bank.
So, Bitcoin Loophole partners only require as low as a $250 deposit for anyone who wants to trade using the trading software. With regards to payment processes, you also do not need to bother too much. You can access an astonishing number of payment options. You can deposit via bank transfers, wire, or debit cards.
Wide Range of Trading and Asset Options
Unlike Binance, which only allows cryptocurrencies, Bitcoin Loophole partners provide trading platforms that also offer other digital assets, including stocks and commodity options. If you are scared of the volatility that comes with trading cryptocurrencies, you can look towards other assets that may be less volatile.
Besides that, the trading platforms also have manual and automated trading features. So, you can choose which you are comfortable with. Now, let’s move further; what exactly are the major differences between Binance and Bitcoin Loophole?
|Crypto exchange with over 600 tradable cryptocurrencies||Tool to access reputable brokers who offer trading platforms with varieties of digital assets|
|Low trading fees and does not require a minimum deposit||Little to no trading fees with minimum deposit of $250|
|No demo account offer||Access to a demo trading feature|
|Responsive customer services||Responsive partner customer support team|
|Includes peer-to-peer feature||Does not offer peer-to-peer feature|
Finally, you must have seen by now that Binance and Bitcoin Loophole have slightly different objectives. So, as a trader, you should visit both websites to decide which aligns most with your mission. While we can’t admit that one is better, we can agree that both offer value in meeting user demands. So, the best thing would be to get to work and research what is best for you.
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