Comparison of Coinmama vs Bitmex [ 2024 ]

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

Your expert: Alejandro Borja

Coinmama

Your expert: Xavier Tarrasó

Bitmex

Main points

Fees

≤3,99%

Earns

Yes

Customer service

3/5

≤0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.5 – Higher fees but a simple and straightforward buying process.

4.2 – Competitive fees with a focus on leveraged trading.

Level

≤3,99%

≤0,10%

Brief explanation

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Cmama Ltd.

HDR Global Trading Limited

Regulation

Registrado como empresa de servicios monetarios en los EE. UU.

Not regulated, enfrentó acciones legales en los EE. UU.

Year founded

2013

2014

Founder

Asaph Schulman

Arthur Hayes, Ben Delo, Samuel Reed

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Coinmama	FEATURES	Bitmex
Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.	Minimum Trade	BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.	Trading and Transaction Fees	BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.	Number of Cryptocurrencies	While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.	Crypto-to-Crypto Trading Pairs	BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.	Website Transparency	The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.	Storage Offering	BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.	Staking and Rewards	Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.	Mobile App and Desktop	Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.	Customer Service	Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.	Deposit and Withdraw	BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.

Key features

Analysis tools

No trading tools, primarily a buying platform

High-level technical analysis tools, derivatives trading features

Mobile APP

Security

High 4,9/5

Additional features

Instant crypto purchases, educational resources, Coinmama Loyalty Program

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Anonymity

Key points

Available cryptocurrencies

10+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential features easily accessible.

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Value for money

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Best for beginners who want a simple and straightforward buying process, despite higher fees.

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Base currencies available

USD, EUR, GBP, AUD, CAD

BTC, USDT (for derivative products)

Account

Trading

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks advanced trading features.

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Deposit and withdrawal

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Account opening process

Coinmama provides an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes

Customer Service

Coinmama provides customer support through email and live chat. The support team is responsive, but the lack of 24/7 support can be a limitation for some users.

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Security

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

Xavier Tarrasó

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

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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.