Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
If you’re new to crypto it can be hard to decide which exchange to sign up for.
When comparing eToro and Binance.US, there are several things to consider: eToro is more accessible for users outside the US while also offering traditional finance in addition to cryptocurrencies. Meanwhile, Binance.US has more crypto selection and a better fee structure, among other features.
Find out which exchange is best for you in our eToro vs. Binance.US comparison.
Round 1: eToro vs. Binance.US on vital statistics
Both eToro and Binance.US are US-based trading platforms. Binance.US is only available to US citizens, so users outside supported states will have to use the global Binance platform instead.
Both exchanges offer staking for users, with neither offering any derivatives trading options. Both exchanges also offer their own noncustodial wallets. eToro offers services within traditional finance, while Binance.US has more crypto available.
eToro wins on vital statistics by being more accessible and giving access to more than crypto.
Binance.US offers slightly more cryptocurrencies for trade than eToro and it has more staking options than eToro. eToro’s crypto selection is growing steadily, but is still less than Binance.US.
That said, eToro offers Ripple (XRP) — which Binance.US doesn’t — while also offering regular investment options to users. Both support all of the major cryptocurrencies.
eToro comes out on top because it supports Ripple and offers users noncrypto investment opportunities.
eToro supports a variety of fiat currencies through different payment methods, whereas Binance.US only supports USD. Binance.US also only supports three different deposit methods for USD: ACH, wire transfer and debit card.
eToro in contrast, supports multiple fiat currencies and a variety of deposit methods such as PayPal and Skrill along with the more traditional methods that Binance.US supports. eToro wins this round for having more fiat support across more channels.
Surprisingly, eToro actually has a better fee structure than Binance.US. The trading fee on the exchange is 0.05% for makers and takers, compared to 0.1% for Binance.US. But users have to use the eToroX platform for this fee, otherwise they pay a spread using eToro’s basic trading platform.
In this sense, Binance.US is a simpler structure, but it’s not difficult to access eToroX through the platform. In addition, eToro supports more fiat deposit and withdrawal methods, with lower fees for fiat withdrawals, and no fees for most crypto withdrawals.
eToro wins this round with lower maker/taker fees and withdrawal fees.
Both eToro and Binance.US offer users a proprietary, noncustodial wallet.
The eToro Money Crypto Wallet allows users to transfer Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Stellar, Tron, Cardano, and Ripple to and from the exchange, while also being able to then withdraw to another wallet. However, you can’t interact with dApps using the eToro Money Crypto wallet.
In contrast, the Binance Wallet can only connect to the Binance Smart Chain and Ethereum networks, though there is support for Binance versions of all the other assets supported by eToro’s wallet. It can also connect to dApps and supports NFTs.
Binance.US wins this round because the Binance Wallet has more features than eToro’s while also allowing interaction with dApps.
Winner: Binance.US
Round 6: Security
While Binance.US has never been hacked, its parent company Binance Exchange has. The company was able to reimburse affected users without much issue and hasn’t been hacked since.
eToro has never been hacked in its history, is compliant with multiple national regulators, and has FDIC insurance for all USD holdings. eToro wins this round for having never been hacked and having strong regulatory compliance.
Winner: eToro
Round 7: Ease of use
For crypto, Binance.US is likely the better option in terms of ease of use. Though eToro is fairly beginner-friendly, there are far more options to look at and varying fee structures for different types of purchases.
By comparison, Binance.US has a simple, crypto-focused interface that makes it easy for new users to start trading crypto with an easy-to-follow fee structure. Binance.US wins this round for having a simpler, crypto-centric user interface.
Winner: Binance.US
Binance.US vs. eToro winner: eToro
By taking five out of seven categories, eToro is our clear winner in Binance.US versus eToro.
eToro has lower fees, more fiat support, more crypto and overall investment options, and top-notch security. Users looking for a platform that can take care of their crypto and traditional investment needs don’t have to look much further than eToro.
For users who are more crypto-focused, Binance.US could be a good option, as they do offer more crypto selection and a more useful crypto wallet. Neither platform is a bad choice for beginners.
Disclaimer: This page is not financial advice or an endorsement of digital assets, providers or services. Digital assets are volatile and risky, and past performance is no guarantee of future results. Potential regulations or policies can affect their availability and services provided. Talk with a financial professional before making a decision. Finder or the author may own cryptocurrency discussed on this page.
Whether products shown are available to you is subject to individual provider sole approval and discretion in accordance with the eligibility criteria and T&Cs on the provider website.
Keegan Francis was a cryptocurrency writer for Finder. He has been invested in cryptocurrencies since 2013 and writing about them since 2018. He has written and edited for CryptoVantage. In 2020 he and his wife Mrugakshee Palwe opted entirely out of the world of traditional finance and went "full crypto", covering their experience in the Go Full Crypto podcast and via a Substack newsletter. Keegan holds a Bachelor of Computer Science from Acadia University, and has attained graduate certificates from Ivan On Tech's lightning network course and the Consensys Academy Ethereum bootcamp. When Keegan is not working on cryptocurrency, he enjoys travelling, rock climbing and playing piano.
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