Backpack vs Binance Comparison
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 1.75 % |
| ~€5.75 | Cost for €1,000 | € 18.50 |
| ~50+ | Cryptos | 370+ |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Transfer, Credit Card |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | License in Germany refused by BaFin |
Cost comparison
The basis is a Bitcoin purchase worth €1,000, including all fees and spreads.
| ~€5.75 | Cost for €1,000 | € 18.50 |
| 0.08/0.10% spot, 0.02/0.05% futures; 0.85% swap | Fees | 1.75 % |
| Not disclosed | Wallet transfer | € 7.47 |
| No; tiers + hidden swap costs | Cost transparency | Limited |
| Unclear | Minimum Amount | ~$10 USD |
| Card, bank via Banxa; SEPA limited | Payment Methods | SEPA Transfer, Credit Card |
Pros & Cons
- Low maker fees starting at 0.08% and taker fees starting at 0.10%
- Staking is available
- Wallet and exchange in one ecosystem
- VARA license in Dubai
- Cost transparency is seen as room for improvement – hidden costs occasionally criticized
- Wallet transfer fees are not disclosed
- No savings plan available
- Swap fees of 0.85% occasionally criticized
- Over 370 cryptocurrencies available
- Savings plan and staking available
- Largest crypto exchange worldwide with low spreads
- Wallet transfer possible
- Payment methods: SEPA transfer and credit card
- No BaFin license in Germany
- Trading fees of 1.75 % for direct purchases have room for improvement
- Total costs of 18.50 € per trade occasionally criticized
- Cost transparency is rated as limited – direct purchases without a clear cost overview
User Experiences
AI AnalysisNot enough reviews available.
According to reviews, Binance is often praised overall for its ease of use, the large selection of coins, and fees that are generally perceived as low. At the same time, users occasionally report criticism regarding support, verification, and language options, especially with regard to a German app version.
This analysis is based on 1002 user reviews evaluated by AI from the Apple App Store and Google Play Store. The total number of reviews on the respective platforms may be higher — the platform ratings (star ratings) shown refer to all reviews available there. The reviews shown reflect user experiences and do not represent the site operator’s own assessment. All information is provided without guarantee. As of: March 2026. This comparison does not constitute investment advice.
Features
| ✓ | Savings plan | ✓ |
| ✓ | Staking | ✓ |
| ✓ | Wallet transfer | ✓ |
| ✓ | Cost transparency | ✓ |
| ✓ | 2FA security | ✓ |
| ✓ | SEPA transfer | ✓ |
| ✓ | Credit card | ✓ |
| ✓ | Minimum amount | ✓ |
| ✓ | Mobile app (iOS/Android) | ✓ |
| ✓ | Web platform | ✓ |
| ✓ | Whitelist | ✓ |
- Maker fees starting at 0.08% are considered low
- VARA license in Dubai
- Wallet and exchange on one platform
- Largest crypto exchange worldwide by trading volume
- Low spreads in order book trading
- Savings plan and staking available
- On the market since 2017
The five areas head to head
AI AnalysisFees & Costs
Not enough reviews available.
Users often cite Binance’s fees as a positive point and frequently describe them as low compared with other providers. At the same time, some reviews perceive the fees as too high. Overall, user data suggests a predominantly positive view of the fees.
Usability & User Experience
Not enough reviews available.
According to reviews, users particularly appreciate the intuitive app and ease of use at Binance, which appeals to both beginners and more experienced users. However, the interface is occasionally described as confusing or too complicated. Many users also want a German language option to make everyday use even more convenient.
Features & Offering
Not enough reviews available.
According to reviews, users mainly praise the large selection of coins. Users also report that Binance is suitable for beginners and appears easy to use. Occasionally, users would like additional language options as well as an iPad app to better adapt the offering to their usage.
Stability & Security
Not enough reviews available.
According to reviews, Binance is perceived by many users as reliable. Overall, the opinion on stability and reliability is predominantly positive.
Customer Support
Not enough reviews available.
User data paints a rather critical picture of support: users report a lack of support. Verification is also described as time-consuming in some reviews. In addition, users would like better assistance with account-related issues and withdrawals.
Details
| Trek Labs (FTX ties) | Company | Binance Holdings Ltd. |
| Dubai (VARA) | Headquarters | — |
| 2023 | Founded | 2017 |
| VARA (Dubai); EU rollout via FTX EU only now | Regulation | License in Germany refused by BaFin |
| Unclear | Minimum Amount | ~$10 USD |
| Yes | KYC | Photo ID |
Verdict
In our overall rating Binance leads with 4.3 against 2.1 for Backpack.
For most investors Binance is therefore the better choice.
Backpack is operated by Trek Labs, a team that also includes former FTX employees. The exchange holds a VARA license in Dubai, but does not have EU regulation – according to comparison data, EU access is provided via FTX EU. The low maker fees starting at 0.08% and the integration of wallet and exchange in one ecosystem are appreciated by users.
Cost transparency is seen as room for improvement – in particular, the undisclosed wallet transfer fees and swap fees of 0.85% are occasionally criticized. The selection of around 50 cryptocurrencies is limited compared with larger exchanges, and the lack of a savings plan limits the options for long-term investors.
The connection to former FTX employees is viewed differently in the market. Backpack is aimed primarily at technically savvy users who are looking for low trading fees and integrated wallet features and are willing to make compromises on cost transparency, coin selection, and regulatory coverage in the EU.
Binance is considered the world’s largest crypto exchange by trading volume and is valued for its low spreads in order book trading. With over 370 tradable cryptocurrencies, savings plans and staking, the platform offers a broad range of services. On the market since 2017, Binance has established itself as a major player in crypto trading.
For the German market, however, it should be noted that Binance does not have a BaFin license. The direct-buy fees of 1.75 % and total costs of 18.50 € per trade are occasionally criticized, as is the limited cost transparency for direct purchases. The minimum amount of 15 € is also higher than at some competitors.
Binance is seen especially as suitable for experienced traders who want to benefit from the low spreads in order book trading and for whom a missing BaFin license matters less than the platform’s global market presence and liquidity.