LYOPAY, BINANCE and KUCOIN!
In January 2021, it was reported that around 106 million people around the world were using cryptocurrencies, and an increasing number of people are interested in bitcoin and other tokens. A key factor in the growing interest in cryptocurrencies has been the rising price of bitcoin and other digital tokens.
Such interest has been pivotal in the creation of multiple crypto platforms where people can easily buy/sell cryptocurrencies or use different services.
Today we are going to talk about three different examples of crypto platforms: LYOPAY, BINANCE and KUCOIN. Do you know what their properties are? In what way do they differ? Which one is better in 2021?
What is LYOPAY?
LYOPAY is a fintech organization that combines in a single super app multiple services from several financial partners all around the world. Its purpose is to offer primary payment services, including professional trading, travel booking and many others. LYOPAY’s native token is LYO CREDIT, an utility used to pay fees for a wide range of physical as well as virtual products and services. It is also used to reward users for successfully completing tasks, for instance, KYC verification. LYO CREDIT is based on the Binance Smart Chain protocol powered by Binance.
What is BINANCE?
Binance is the world’s largest cryptocurrency exchange and one of the fastest in the market. Binance Coin (BNB) is the native token of Binance Chain. BNB serves as BNB underlying gas and has multiple forms of utility: it can be used to pay for goods or services, participate in token sales and much more.
What is KUCOIN?
Kucoin is a third-party cryptocurrency exchange. As such, they act as middlemen between buyers and sellers. When you buy a coin, you don’t actually purchase them from the platform. Instead, you interact with other traders. Kucoin earns their money on the trading fees. Kucoin has its own token, KuCoin Token (KCS), that can be used to pay gas fees. Kucoin platform is fully compatible with Ethereum and ERC-20 smart contracts, and is very fast: it takes just 3 seconds to produce a new block.
LYOPAY, KUCOIN or BINANCE: which is better in 2021?
These three different crypto platforms share a similar business strategy.
First of all, they give access to hundreds of altcoins that are otherwise hard to purchase. In addition to simply buying and trading crypto, they both offer loads of additional services such as futures market, crypto lending, trading bots, P2P marketplace, margin trading, referral programs, and more, all at relatively low fees.
Which is safer?
Binance is headquartered in Malta and KuCoin in Singapore, but you can find it in the Seychelles, Hong Kong, Cayman Islands, and other countries. From what it seems, both operate in grey areas where regulations are not that strict. If regulations are not as strict as they should, there will be less investment in safety procedures to keep your wealth safe. On the other hand, less investment in regulation also means more profits. In short, they both are safe options to choose.
LYOPAY is very safe as well. Why? Because we operate in compliance with KYC, AML, OWASP, and European General Data Protection compliance and regulations. Our operations are made in total transparency.
Which one charges more?
With KuCoin, the more you trade, the less fees you pay. Initially, you will be asked to pay a marker fee of 0.10% and a taker fee of 0.10%, but you can reduce these fees to 0.08% if you decide to pay in their native currency (KCS).
Binance starts at 0.1% for both the maker and taker fee. As with KuCoin, the platform allows those who pay their fees with the Binance native currency (BNB) to get a 25% fee reduction.
LYO CREDIT, whose ICO has started, allows all commissions to be paid 100% in LYO. In addition, 15% of each commission will generate LYO CREDIT rewards as Referral Rewards.
Let’s talk about services
As mentioned before, both KuCoin and Binance are famous for the number of services they provide. They both offer a P2P marketplace, futures market, referral programs, and many others.
Compared to the aforementioned platforms, our Super App LYOPAY integrates day-to-day services, from payments to e-commerce to travel booking. It allows you to make transactions with 15 cryptocurrencies, and exchange in EUR and USD.
Which one wins?
The final choice depends on your plans. However, if you aim to have multiple services, from exchange, to crypto-wallets, to plastic, virtual cards and token staking, LYOPAY appears to be the perfect one to suit your needs.
