Binance HFT vs BingX HFT
What is Hashflow (HFT)?
Hashflow is a decentralized exchange that aims to deliver interoperability, zero slippage, and MEV-safeguarded trades. With no fees for trades and all prices displayed accurately, it also offers seamless cross-chain trading, eliminating the need for bridges or synthetic assets.
How does Hashflow work?
Hashflow enables users to swap assets across blockchains without the need for token bridges, making the process fast and seamless. The platform offers protection against slippage and MEV exploits for all trades, whether they are performed locally on one chain or across multiple chains.
Hashflow utilizes a combination of on-chain and off-chain RFQ engines to access off-chain quotes from market makers managing liquidity in on-chain pools. The smart contracts require market makers to cryptographically sign quotes that remain unchanging throughout the duration of the trade, ensuring that the prices offered to users are guaranteed and cannot be manipulated by MEV bots.
Furthermore, Hashflow guards against slippage caused by cross-chain MEV, which can occur if there is significant price movement between the time it takes to validate a transaction on the source chain and relay it to the destination chain.
What is the HFT token?
HFT is the designated token for both the Hashflow protocol and the Hashflow gamified governance platform known as the Hashverse. Staking HFT allows users to access exclusive features within the Hashflow ecosystem.
Buying Hashflow on Binance vs BingX
Trading Fees
Cryptocurrency trading is conducted on exchanges, similar to stock trading, but restricted to cryptocurrencies. Many exchanges implement a tiered fee structure based on the user's 30-day trading volume. It's crucial to understand the fees to develop effective profit-maximizing strategies.
Exchange fees for cryptocurrency can vary greatly between exchanges, some charging a flat fee for each trade, others charging a percentage of the trade value. Some exchanges also offer discounts for high-volume traders or members.
Binance has a maker fee of 0.1% and a taker fee of 0.1% for most trades, with reductions available for BNB holders or high-volume traders. BingX has a maker fee of 0.075% and a taker fee of 0.075% for most trades.
Please see the following table for a quick comparison:
Exchange/ Fees
Binance
BingX
Maker Fee
0.1%
0.075%
Taker Fee
0.1%
0.075%
It's important to check the current fee schedule for the exchange before trading as these fees may change.
Services and Features Offered
Binance is known for its accessible trading experience, offering traders the ability to trade from anywhere on desktop, mobile, or tablet. Binance also has robust security measures to secure users' assets and information. While Binance is not accessible in the US, it has a partnership with Binance.US for American investors.
On the other hand, BingX is an international digital finance firm offering services in countries like North America, Canada, the EU, Hong Kong, and Taiwan. BingX offers financial services like lending, borrowing, staking, and buying/selling of cryptocurrencies. It has a referral program, trading competition, and copy trading feature, which allows users to follow experienced traders to maximize profits. If you want to buy Hashflow (HFT) on BingX, the copy trading feature is an option for passive profit-making.
In conclusion, both Binance and BingX have their unique features and services, and the right choice will depend on individual needs and preferences. It's crucial to research both platforms thoroughly and seek advice from financial advisors before making any investment decisions.
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