Comparison of eToro vs Bitbns [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the eToro vs Bitbns comparison!

Your expert: Alejandro Borja

eToro

Your expert: Xavier Tarrasó

Bitbns

Main points

Fees

Fee:

Earns

Yes

Customer service

4/5

Fees

0.25%

Earns

Yes

Customer service

3/5

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

3.7 – Competitive fees with additional benefits for social trading.

3.8 – Competitive fees with some additional costs for specific services.

Level

Fee:

0.25%

Brief explanation

eToro’s commission structure primarily revolves around spread-based pricing, which can be relatively higher than some of its competitors, making it less ideal for traders who engage in frequent small trades. This means that the cost of a transaction is built into the buy and sell price of each trade, leading to no explicit commission fees but a varying spread cost depending on the asset being traded. Additionally, eToro charges a withdrawal fee and an inactivity fee if an account is not used for a certain period. These fees are somewhat offset by the absence of management or ticketing fees, which makes it attractive for users who trade less frequently but with higher volumes. Understanding these nuances is crucial for traders to manage trading costs effectively on eToro.

Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

eToro

Year Founded: eToro was established in 2007, demonstrating a long-standing presence in the financial markets. This longevity in the industry underscores its experience and resilience, adapting to various economic cycles and regulatory environments over the years.
Number of Users: With over 20 million registered users globally, eToro has a substantial user base that reflects its widespread acceptance and trust among investors. A large community not only signifies a trusted platform but also enhances the social trading experience by providing more insights and strategies to follow.
Security Methods: eToro employs advanced security protocols to protect user data and funds. These include SSL encryption, secure login methods, and adherence to strict regulatory guidelines, ensuring a high level of security that meets global standards.
Possible Regulation: eToro is regulated by several respected bodies, including the Cyprus Securities Exchange Commission (CySEC), the Financial Conduct Authority (FCA) in the UK, and the Australian Securities and Investments Commission (ASIC). This regulation is critical for ensuring fair trading practices and protecting the interests of investors.
Reputation and Reviews: eToro enjoys a positive reputation in the industry, supported by generally favorable reviews from users. Its innovative platform and commitment to user satisfaction have been widely acknowledged in numerous reviews and testimonials, which praise its user-friendly interface and social trading features.

Bitbns

Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.
Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.
Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.
Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility
Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Features	eToro	Bitbns
Minimum Trade	eToro offers a low minimum trade amount, making it accessible for beginners yet slightly higher than some competitors.	Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
Trading and Transaction Fees	Fees are higher due to spread pricing; beneficial for less frequent, larger trades.	Fees are competitive within the Indian market, but can be considered high internationally.
Number of Cryptocurrencies	Offers a moderate range of popular cryptocurrencies but lacks some of the lesser-known altcoins.	Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
Crypto-to-Crypto Trading Pairs	A decent variety of trading pairs available, though not as extensive as larger exchanges.	Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
Website Transparency	eToro provides clear information on fees and features but could improve in showing all terms upfront.	The website provides clear information on fees, trading processes, and security measures.
Credit/Debit Card	eToro does not provide an exchange card for in-store purchases and associated benefits based on the available data.	Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Storage Offering	Provides a secure digital wallet app but less control compared to dedicated wallet services.	Provides secure cold storage options, enhancing the safety of digital assets.
Staking and Rewards	Offers staking for some cryptocurrencies with rewards, but the options and rates are limited.	Offers competitive staking options and rewards, encouraging user participation and investment.
Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and highly functional.	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer Service	Good customer support with multiple channels available, though response times can vary.	Excellent customer service with multiple channels for support and quick response times.
Deposit and Withdraw	Easy deposit and withdrawal processes, but some users may find the withdrawal fee structure cumbersome.	Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Social trading, advanced charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Social trading, copy trading, staking, eToro Club rewards

Margin trading, futures trading, staking, SIP investment plans

Anonymity

Key points

Available cryptocurrencies

30+ (focus on popular assets)

90+

User-friendliness

eToro features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on social trading, allowing users to follow and copy trades from experienced traders.

Bitbns is known for its simple and user-friendly interface. It is designed to make cryptocurrency trading accessible to everyone, including those who are new to the market.

Value for money

Delivers reasonable value for money with competitive fees and a focus on social trading, making it an attractive option for new traders.

Provides good value for money with low trading fees and a wide range of supported cryptocurrencies, making it an affordable choice for traders.

Countries of operation

United States, United Kingdom, Europe, Australia, Canada

India, United States, United Kingdom, Canada, Australia

Best for

Suitable for new traders interested in social trading and following the strategies of successful traders, with competitive fees.

Ideal for Indian investors and others looking for a cost-effective platform with low trading fees and a wide range of cryptocurrencies.

Base currencies available

USD, BTC

INR, USDT

Account

Trading

eToro is known for its social trading features, allowing users to follow and copy trades from experienced traders. It offers a wide range of cryptocurrencies but has higher fees compared to some exchanges.

Bitbns is a good platform for Indian users, offering a wide range of cryptocurrencies and easy fiat integration. Its trading fees are competitive, but it lacks some advanced features and tools available on larger exchanges.

Deposit and withdrawal

eToro offers multiple deposit options, including bank transfers, credit/debit cards, and e-wallets. Withdrawals are processed within a day, but fees are higher compared to some exchanges .

Bitbns offers bank transfers and cryptocurrency deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

eToro offers a seamless and fully digital account opening process. Users need to provide personal information, verify their identity, and typically get their account approved within a day. It’s user-friendly and efficient.

Bitbns has a straightforward account opening process. Users need to submit personal information, verify their identity, and address. The process is efficient and usually takes less than a day, making it accessible for new users.

KYC required?

Yes

Customer Service

eToro offers extensive customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

Bitbns provides support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users in India and beyond.

Security

eToro offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, ensuring high security for investors.

Bitbns employs comprehensive security measures, including 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

At Threenvest, we understand the importance of choosing the right cryptocurrency exchange for your trading and investment needs. eToro, with its distinctive blend of social trading features and a user-friendly platform, presents a compelling option for those new to cryptocurrency trading as well as seasoned traders seeking a more community-oriented trading environment. The platform stands out for its wide array of cryptocurrencies, including popular choices like Bitcoin and Ethereum, as well as its innovative social trading tools that allow users to learn from peers and mimic successful traders’ strategies. These features make eToro particularly attractive to users who value a collaborative approach to trading. However, it’s important to weigh eToro’s offerings against its limitations. Compared to other exchanges, eToro’s fee structure, primarily based on spreads, may be higher, particularly for less popular cryptocurrencies or during volatile market conditions. Additionally, while eToro offers a robust platform that caters well to beginners and intermediate users, advanced traders might find the technical tools insufficient for complex strategies. At Threenvest, we recommend eToro for users who prioritize ease of use, educational resources, and social trading capabilities. For those requiring advanced trading capabilities and lower fee structures, exploring other platforms might be advisable. Ultimately, aligning your specific trading style and needs with the features offered by eToro will determine if this platform is the right choice for you.

Xavier Tarrasó

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

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Read Bitbns review

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.