Binance と Hotbit を比較 Exchange

This article compares two crypto exchanges: one of the leading trading platforms, Hotbit, and the absolute industry leader Binance. Binance's trading volume is bigger than the combined volumes of the next five biggest exchanges. However, other trading platforms, including Hotbit, attract many users due to a different design or unique features unavailable on Binance. More than that, other exchanges are more popular in certain countries because Binance is simply not available in these jurisdictions. One of Binance rivals is Hotbit. This exchange is one of the top 20 trading platforms in terms of liquidity. Hotbit is also known for an incredibly huge number of supported coins. Read this article to learn the main characteristics of Binance and Hotbit and see which of these exchanges is better for you.

1. What Is Binance?
2. What Is Hotbit?
3. Binance vs. Hotbit (table)
4. Binance vs. Hotbit (details)

What Is Binance?

Binance is easily the most popular crypto exchange in the world. As of August 2022, its 24-h trading volume exceeds $10.5 billion. There is no second exchange with liquidity exceeding $4 billion. Apart from that, Binance is notable for its rich set of features and a solid selection of supported coins.

Binance was founded by Changpeng Zhao in Hong Kong in 2017. The exchange quickly came to prominence, becoming the leading crypto trading platform by daily trading volume. Due to tough governmental politics on crypto, Binance became an international company, opening offices abroad. Currently, Binance has headquarters in the Seychelles and Cayman Islands. Binance is unavailable in many countries, including China, Japan, Thailand, the USA, the UK, etc.

As for the features of Binance, this exchange is highly versatile. Binance supports standard spot trading; it has a fiat money gateway, it supports over 350 coins, it supports trading NFTs, it supports instant swaps, a P2P platform, derivatives market, staking, and many other features. Such diversity of functions makes Binance a one-stop digital finance platform. High liquidity and low fees contribute to Binance's popularity.

The exchange was hacked in 2018. However, the exchange administration quickly compensated money to affected users. It didn't mangle the platform's reputation. The relations between Binance and regulators in several countries are heated. That's the reason why Binance is not available in some countries. The officials of several countries investigate the activity of the exchange.

What Is Hotbit?

Hotbit is another number one exchange. While Binance is first by liquidity, Hotbit can't be compared by the number of supported coins. Hotbit supports over 1,900 cryptocurrencies. Regarding liquidity, as of August 2022, Hotbit is among the top 20 exchanges, so users can't complain about the seamlessness of trading, at least when it comes to most sought-after assets. Daily trading volume on Hotbit reaches $380 million.

On top of high liquidity and an enormous number of supported coins, Hotbit provides multiple features. On this exchange, you can perform the usual spot trading, ETFs trading, investing in several types of digital assets, etc. Unlike Binance, Hotbit aims to be transparent and comes through constant third-party audits. 

The exchange was founded in 2018. As of August 2022, Hotbit is unavailable for US and Japanese residents. Sanctioned jurisdictions are blocked from using Hotbit, too. One of the most significant disadvantages of Hotbit is the high fee rate. It goes both for trading and withdrawal commissions.

Binance vs. Hotbit (table)

Binance vs. Hotbit (details)

Supported coins & 24h trading volume

Hotbit supports much more tokens than Binance. You can probably find any coin you need on Hotbit. However, the selection of Binance contains enough popular coins and some obscure coins, too. Moreover, Binance supports NFTs trading and has much deeper liquidity than Hotbit.

Fees

Binance collects low fees both while trading and withdrawals. Hotbit is oppositely one of the most expensive exchanges among the industry leaders. Most exchanges with the highest liquidity collect twice as low fees as Hotbit.

Regulated?

Both Hotbit and Binance are not regulated. Traders looking to use law-abiding platforms will have to consider other exchanges. Binance is licensed in France, though.

Security

Binance provides more security features, letting users avoid more threats than Hotbit. Another thing that makes Binance safer is that Binance is a wealthy company, and it can afford quick compensation in case of a security breach. We can't be sure that Hotbit will compensate quickly if users' funds get stolen. On the other hand, unlike Binance, Hotbit manages to protect funds from hackers for years. While Binance lost $40 million worth of crypto in the 2019 hack, Hotbit never was hacked.

Additional features

No doubt, Binance has a more diverse functionality than Hotbit. Binance is a place to go for many kinds of traders. Those who need margin trading, futures trading, NFTs trading, staking, etc., can use Binance. Hotbit offers only one feature that is not usual for most crypto exchanges — an ETFs market. Interestingly, this feature is not supported on Binance, so those who need ETFs trading should choose Hotbit over Binance or look for a third option.

Available

Hotbit is available in more countries than Binance. Multiple governments regularly fine the latter for providing unlicensed services. It creates problems for using Binance in certain areas. Hotbit has fewer problems like this. The US citizens and people from sanctioned countries cannot use Hotbit, though. Binance is restricted in more countries.