Kraken HFT vs BingX HFT
1 year ago

What is Hashflow (HFT)?

Hashflow is a DEX focused on delivering interoperability, slippage elimination, and MEV-safe trades. It offers commission-free trading with accurate price quotes and native cross-chain trading capabilities, eliminating the need for bridges or synthetic assets.


How does Hashflow work?

Hashflow allows for fast, seamless asset swaps across blockchains without relying on token bridges. It offers full protection against slippage and MEV exploits in all trades, regardless of whether they are performed on one chain or multiple chains.


The platform uses a hybrid on-chain/off-chain Request for Quote (RFQ) engine to obtain off-chain quotes from market makers managing liquidity in on-chain pools. Market makers must cryptographically sign quotes that remain unchanged throughout the trade, ensuring that the prices offered to users are secure and cannot be exploited by MEV bots.


Additionally, Hashflow prevents slippage caused by cross-chain MEV by safeguarding traders from price fluctuations between the time of transaction validation on the source chain and the transfer of the payload to the destination chain.


What is the HFT token?

HFT is the official currency for both the Hashflow protocol and the gaming-style governance platform, Hashverse. By holding HFT tokens, users can access special features within the Hashflow platform.


Buying Hashflow on Kraken 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.


Kraken charges a lower fee of 0.16% for makers and 0.26% for takers, with discounts available for users who hold XBT or trade high volumes. BingX has a uniform fee of 0.075% for makers and takers.


See the table below for a summary:

Exchange/ FeesKrakenBingX
Maker Fee0.16%0.075%
Taker Fee0.26%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

Kraken is a platform that allows buying bitcoin with fiat currency and boasts a 24-hour trading volume exceeding 1 billion USD. It offers the exchange of 49 cryptocurrencies and has a trading fee of 0.26%, lower than Coinbase's 3.66%. However, its customer support is slower and it has a history of market pin issues. Some negative reviews are related to account verification, a requirement for compliance with US laws. Designed for inexperienced traders, Kraken provides a maximum leverage of 5X for margin trading.


On the other hand, BingX is a digital financial institution with presence in North America, Canada, the EU, Hong Kong, and Taiwan. BingX offers services such as lending, borrowing, staking, and cryptocurrency buying and selling. It features a referral program, a trading competition, and a copy trading function, enabling users to follow the trades of their chosen trader.


In conclusion, the choice between Kraken and BingX depends on the user's needs and preferences. Thorough research and consultation with financial advisors are recommended before making any investment decisions.