Comparison of Bydfi vs Bitbns [ 2024 ]

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

Your expert: Alejandro Borja

Bydfi

Your expert: Xavier Tarrasó

Bitbns

Main points

Fees

0,10%/0,30%

Earns

Yes

Customer service

3/5

0.25%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for copy trading.

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

Level

0,10%/0,30%

0.25%

Brief explanation

Bydfi’s commission structure is designed to be transparent and competitive, catering to both novice and experienced traders. The trading fees are based on a tiered structure that decreases as your trading volume increases, making it more attractive for high-volume traders. This approach not only encourages more frequent and higher volume trading but also ensures that traders can maximize their returns by reducing costs as they scale up their trading activities. For specific transactions, Bydfi charges a nominal fee, which is clearly outlined on their platform, ensuring that users are fully aware of the costs associated with their trading activities. This straightforward fee system is part of Bydfi’s commitment to providing a transparent trading environment.

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.

Bydfi

Year Founded and Stability: Bydfi was established with a clear vision to provide secure and accessible cryptocurrency trading options, rapidly earning a reputation for reliability and user satisfaction.
Reputation and Reviews: Bydfi is highly regarded within the crypto community, reflected through positive user reviews and ratings. Its commitment to user satisfaction and continuous improvement of its trading environment have contributed to its strong reputation.
Security Methods: Bydfi employs advanced security measures including two-factor authentication, cold storage solutions for the majority of assets, and ongoing security audits, ensuring a robust defense against potential cyber threats.
Customer Service: Bydfi offers round-the-clock customer support through multiple channels including live chat, email, and a comprehensive FAQ section. This responsiveness and accessibility demonstrate its dedication to providing a seamless user experience.
Volume Managed and Liquidity: Bydfi handles a significant trading volume, offering high liquidity which ensures that trades are executed swiftly and at predictable prices, making it a dependable platform for both high-frequency traders and casual investors.

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.

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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

Unknown

Buyhatke Internet Private Limited

Regulation

Not regulated

Year founded

Unknown

2017

Founder

Unknown

Gaurav Dahake

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bydfi	FEATURES	Bitbns
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.	Minimum Trade	Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.	Trading and Transaction Fees	Fees are competitive within the Indian market, but can be considered high internationally.
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.	Number of Cryptocurrencies	Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
Offers a robust selection of trading pairs, enabling versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
The Bydfi website provides clear and comprehensive information about trading procedures and fees, though some users might seek more in-depth details on certain operational aspects.	Website Transparency	The website provides clear information on fees, trading processes, and security measures.
An exchange card is absent, which limits convenience for everyday transactions.	Credit/Debit Card	Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.	Storage Offering	Provides secure cold storage options, enhancing the safety of digital assets.
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.	Staking and Rewards	Offers competitive staking options and rewards, encouraging user participation and investment.
The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.	Customer Service	Excellent customer service with multiple channels for support and quick response times.
Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Basic tools for derivatives trading

Basic charting tools

Mobile APP

Security

High 4,6/5

High 4/5

Additional features

Copy trading, futures trading, staking, Bydfi Academy

Margin trading, futures trading, staking, SIP investment plans

Anonymity

Yes

Key points

Available cryptocurrencies

Limited, derivatives focused

90+

User-friendliness

Bydfi provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making the trading process smooth and efficient.

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

Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.

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, Canada, United Kingdom, Australia, Singapore

India, United States, United Kingdom, Canada, Australia

Best for

Best for beginners and experienced traders seeking a user-friendly platform 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

USDT (for derivative products)

INR, USDT

Account

Trading

BYDFi (formerly Bybit) focuses on derivatives trading with high leverage options. It is ideal for experienced traders but can be risky and complex for newcomers.

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

BYDFi (formerly Bybit) focuses on cryptocurrency deposits and withdrawals. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

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

BYDFi (formerly Bybit) provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

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?

Customer Service

BYDFi (formerly Bybit) offers support through email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

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

BYDFi (formerly Bybit) ensures security with 2FA, encryption, and cold storage. Despite its strong security measures, it is not regulated by top-tier financial authorities, which could be a concern for some 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

As one of the seasoned experts at Threenvest, I personally find Bydfi to be an appealing choice for both new and experienced cryptocurrency traders. The platform’s user-friendly interface makes it accessible for newcomers, while its robust security measures provide peace of mind, crucial for safeguarding investments in the often volatile crypto market. From my experience, Bydfi’s competitive fees and diverse range of cryptocurrencies cater effectively to diverse trading strategies, ensuring that both speculative traders and long-term investors can find value. If you’re seeking an exchange that combines usability with a strong focus on security, Bydfi certainly deserves your consideration.

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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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.

Comparison of Bydfi vs Bitbns [ 2024 ]

Bydfi

Bitbns

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bydfi

Bitbns

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bydfi and Bitbns