Breet VS Binance! Which one of these two crypto trading apps suits your needs more?
It is true that many have addressed Binance as the head of all crypto exchanges but as both older and new crypto apps continue to advance, Binance should look forward to competitors who are ready to challenge the title. One of which is Breet, one of the top best crypto apps to sell Bitcoin in Nigeria.
As cryptocurrency continues to advance in Nigeria and the world at large, it’s important you utilise reliable and top crypto trading platforms while dealing with cryptocurrency to not fall victim to any scam. In that case, let’s compare Breet VS Binance, how they work, and explore which crypto app works best for you.
About Breet App
Breet is a Nigerian OTC cryptocurrency service that enables customers and businesses to quickly sell their cryptocurrencies and turn them into cash. There are also instantaneous transfers of money that are possible to be sent to a local Nigerian bank account or mobile money (for Ghana).
Breet is exceptional and distinctive. Users of Breet can instantaneously exchange their Bitcoin for cash without depending on or waiting for a third party, or peer on a P2P trading exchange.
Binance was established in 2017 as a global crypto exchange. It has quickly developed into one of the most well-known and commonly used exchanges thanks to a reputation for providing a broad selection of digital assets and reasonable trading costs.
Users can trade a broad variety of cryptocurrencies on Binance, from the most popular ones like Bitcoin and Ethereum to brand-new, burgeoning altcoins. Additionally, it provides a number of trading pairings that let users exchange cryptocurrencies for both fiat currency and other cryptocurrencies.
Similarities Between Breet and Binance
Some similarities between Breet and Binance are security, credibility, and a good support team.
Both Breet and Binance are well-secured crypto apps in Nigeria. A safe trading platform is Breet. Your legitimate email address must be verified during registration. Also, you can verify your phone number. You must first create a login and a password before you can access your Breet wallet. The use of a fingerprint is one of the other choices. A KYC (Know Your Customer) policy is another option. Each of these security features guards against hackers and illegal access to your wallet.
In order to safeguard user data and transactions, Binance employs a multi-tier and multi-cluster system design and makes use of a number of different technologies, including SSL and AES.
Google Play Store and App Store users have given Breet 4.5 and 4.1 ratings, respectively. This suggests that Breet may be relied upon. Binance is rated 4.4 on the Google Play Store, but rated 2.0 out of 5.0 on Trustpilot.
3. Reliable Customer Support
Many customer evaluations claim that Breet provides its users with customer assistance that is available 24/7. whenever you like, day or night. Breet support can be contacted through a variety of means, including phone, email, the live chat function in the app, WhatsApp, Twitter, Facebook, and Instagram. This hints at consistency and dependability. The binance support team is also reliable, although there have been some complaints from users, Binance is still responsive.
Differences Between Breet and Binance
Some differences between Breet and Binance are their exchange system, transaction time, fees, supported coins, and countries.
1. Crypto Exchange System
Breet app operates an OTC exchange system while Binance utilises a peer-to-peer trading system. In bitcoin marketplaces, peer-to-peer trading is also known as P2P trading. Users can immediately buy and sell bitcoins to one another via P2P exchange. P2P trading truly happens when a user “A” owns some cryptocurrencies and sets a price to sell them for, and user “B” holds certain market charts and determines that “A” should go ahead and make a buy. Here is guidance on how to use P2P trading to generate money online.
Breet is an OTC cryptocurrency trading platform that makes it possible for regular people and companies to acquire the real-world value of cryptocurrencies. Because of this, users of the Breet OTC system can quickly bypass in-depth explanations of what cryptocurrency is. This implies that users can receive bitcoin payments by providing the details of their cryptocurrency wallet (much like sharing the details of their bank account) without any action, reaction, or engagement. Fiat money with a set of pre-configured OTC exchange rates.
2. Time of Transaction
Breet is very fast with transactions. One of the primary characteristics that set the Breet app apart is this. Within five minutes, a user can exchange bitcoin for naira and other cryptocurrencies. Whereas, Binance is slow with transactions due to its use of a peer-to-peer system as explained.
3. Supported Cryptocurrencies
Breet supports the following 6 cryptocurrencies: Bitcoin, Ethereum, Litecoin, Tether (USDT), Dogecoin, and Bitcoin Cash. Compared to Binance, Binance supports over 150 digital assets. Binance supports more cryptos than Breet.
4. Supported Countries
Breet only operates in Nigeria and Ghana at the moment but is looking into expanding to additional African nations. Although, Binance supports over 100 countries globally.
5. User Interaction and Availability
Breet is simple to use and quick to access. It is suitable for both novice and expert cryptocurrency traders. Whereas, Binance is more advanced and convenient for experienced crypto traders.
6. Transaction Fees
Using Breet is completely free; there are no transaction costs or percentage reductions. There are no fees associated with receiving or making withdrawals. Users who own Binance Coin receive reductions off of Binance’s 0.1% trading fee.
7. Payment Methods
The Breet app supports bank transfers for Nigerian users and Mobile Money for Ghanaian users. Bank transfer continues to be one of the most popular payment ways on the site, but Binance P2P supports more than 700 payment options, including debit cards, credit cards, in-person cash payments, bank transfers, SEPA, or SWIFT transfers.
Synopsis: Breet VS Binance
Both Breet and Binance are excellent cryptocurrency trading apps. Which platform is right for you will ultimately depend on your personal requirements and preferences. If you want a platform made with user-friendliness in mind, Breet is the best option because of its first-rate customer service and quick transaction times.