Comparison of Bitfinex vs Coinw [ 2024 ]

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

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Coinw

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

0.20%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.

4.0 – Reasonable fees with additional benefits for high-volume trading.

Level

0,10% /0,20%

0.20%

Brief explanation

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

CoinW maintains a competitive and transparent fee structure tailored to benefit both casual and active traders. The exchange charges a base rate of 0.2% for both makers and takers, which can decrease significantly with increased trading volume thanks to their tiered fee system. This system not only incentivizes frequent trading but also rewards high-volume traders with even lower rates, making it an attractive option for those looking to execute large transactions. Additionally, CoinW does not charge different fees between takers and makers, simplifying the cost calculations for traders and providing a clear, straightforward trading cost framework.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

Read bitfinex review

Coinw

Security Methods: CoinW implements advanced security protocols including bank-level risk control systems and real-time reconciliation processes. This ensures that users' assets are protected against unauthorized access and potential cyber threats.
Regulation Compliance: CoinW operates with a compliance-first approach, adhering to international financial regulations. This commitment to regulatory standards enhances its trustworthiness and ensures a secure trading environment for its users.
Trading Volume and Liquidity: CoinW manages a significant trading volume, providing high liquidity which is essential for executing trades quickly and at desired prices. This high liquidity also reflects the trust and activity level of its large user base.
Customer Service: Despite some limitations in direct support channels like phone service, CoinW provides 24/7 customer support through its online channels, ensuring that user queries and issues are addressed promptly and effectively.
Reputation and Reviews: CoinW has earned positive acclaim within the industry, being recognized as the best rising star by Crypto Expo and the best exchange in Asia by Crypto 306. These accolades underscore its credibility and reliability in the competitive crypto exchange market.

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Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

Unknown

Regulation

Not regulated

Year founded

2012

Unknown

Founder

Jean

Unknown

Payment methods

Transfers

Yes

Mastercard

Wire transfer

Yes

Card

Comparative table

Bitfinex	FEATURES	Coinw
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	CoinW offers low minimum trade thresholds, making it accessible for beginners and those with smaller budgets to engage in trading.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	CoinW maintains competitive trading fees, starting at 0.2% for both makers and takers, which decrease with higher trading volumes.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	With over 1,000 cryptocurrencies available, CoinW provides a vast array of trading options, catering to diverse investor interests.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	The platform supports numerous crypto-to-crypto trading pairs, offering significant flexibility and opportunities for arbitrage.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	CoinW provides clear information on its fees and policies, although improvements can be made in disclosing full details on security practices and fund storage.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	CoinW lacks an exchange card for in-store purchases.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	CoinW uses cold storage for the majority of its funds, enhancing security but details on the extent and management of these storages could be more transparent.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	The exchange offers staking and rewards programs, but more detailed information and wider variety of options could improve user engagement.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	Both the mobile app and desktop platform of CoinW are user-friendly and reliable, though occasional updates and feature enhancements would provide a smoother experience.
Customer service is available but response times can be slow during peak times.	Customer Service	While available 24/7 via chat, the lack of phone support and sometimes delayed responses are areas needing improvement.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	CoinW offers multiple deposit and withdrawal methods, but the addition of fiat currency options could significantly enhance user convenience.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Margin trading, lending services, staking, Bitfinex Pulse (social network)

Margin trading, futures trading, staking, CoinW Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

150+

100+

User-friendliness

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

CoinW features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Suitable for beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT

CNY, BTC

Account

Trading

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

CoinW provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.

Deposit and withdrawal

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

CoinW supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking less than a day to complete.

CoinW offers an easy and quick account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes

Customer Service

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

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

Security

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform for investors .

CoinW employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

Xavier Tarrasó

As an expert closely following the cryptocurrency exchange landscape, I’d like to share my insights on CoinW. This platform stands out primarily for its extensive selection of cryptocurrencies, accommodating over 1,000 different types, which makes it an attractive choice for traders looking to explore a variety of crypto assets. CoinW’s security measures are stringent, providing users with peace of mind when trading. Furthermore, their customer service is accessible 24/7 through chat, ensuring that assistance is always just a message away, although expanding support options could enhance user experience. In summary, if you’re seeking a platform with a wide array of trading options and solid security, CoinW is certainly worth considering.

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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.