Comparison of Wirex vs Blocktrade [ 2024 ]

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

Your expert: Alejandro Borja

Wirex

Wirex

  • Threenvest valuation: 3,8/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Your expert: Xavier Tarrasó

blocktrade

Blocktrade

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Main points

Fees

1%

Earns

No

Customer service

3/5
0,30%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with additional benefits for cardholders.
3.9 – Competitive fees with additional benefits for European traders.

Level

1%
0,30%

Brief explanation

Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.
Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

Wirex

Wirex
Go exchange
  • Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
  • Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
  • Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
  • Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
  • Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.
  • Pros
  • User-friendly interface
  • Crypto-backed Visa card
  • Multi-currency support
  • Cons
  • High foreign exchange fees
  • Limited customer support

Blocktrade

blocktrade
Go exchange
  • Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
  • Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
  • Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
  • Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
  • Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.
  • Pros
  • Regulated by EU authority.
  • Supports fiat and cryptocurrency deposits.
  • Offers mobile trading applications.
  • Cons
  • Limited cryptocurrency selection.
  • No passive income features.

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Wirex Limited
Blocktrade S.A.

Regulation

Regulated in the Reino Unido
Regulated in the UE

Year founded

2014
2018

Founder

Pavel Matveev and Dmitry Lazarichev
Luka Gubo

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Wirex FEATURES Blocktrade
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Minimum Trade
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
Trading and Transaction Fees
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
Number of Cryptocurrencies
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
There is a good selection of trading pairs available, providing users with various trading strategy options.
Crypto-to-Crypto Trading Pairs
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
Website Transparency
The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
Credit/Debit Card
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
Storage Offering
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
Staking and Rewards
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
Customer Service
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

Basic price tracking
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Crypto debit card, staking, Wirex rewards, fiat on/off ramps
Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

No
Yes

Key points

Available cryptocurrencies

10+
10+

User-friendliness

Wirex features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Blocktrade provides a straightforward and easy-to-use platform, ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.
Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
Germany, Austria, Switzerland, Slovenia, France

Best for

Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

USD, EUR, GBP, BTC
EUR, BTC

Account

Trading

Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some exchanges.
Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.

Deposit and withdrawal

Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

Wirex provides an easy and fast account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.
Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.

KYC required?

Yes
No

Customer Service

Wirex provides comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.
Blocktrade provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors.
Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

Read Wirex review

View all comparisons against Wirex

Read blocktrade review

View all comparisons against Blocktrade

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.

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