Comparison of Bingx vs Altcoin Trader [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Altcoin Trader

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,10%

Fees

Yes

Earns

4/5

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 social trading features.

3.5 – Competitive fees within South Africa but higher for international transactions.

Level

0,10%

Brief explanation

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

AscendEX maintains a competitive and transparent fee structure, which is essential for both casual and serious traders. The platform typically charges a flat fee for both makers and takers, simplifying calculations for users. These fees are generally aligned with industry standards, ensuring that traders can engage in frequent trading activities without excessive costs. Additionally, AscendEX may offer tiered discounts based on the user’s monthly trading volume, which incentivizes higher trading activity with lower fees. For users looking to minimize costs while maximizing trading opportunities, AscendEX’s fee structure is designed to support a wide range of trading strategies and volumes, making it a compelling choice for those who value straightforward and equitable financial dealings in their trading platform.

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

Altcoin Trader

Security Methods: AscendEX employs a comprehensive array of security measures including SSL encryption, two-factor authentication, and cold storage of assets. These rigorous security protocols ensure that users’ data and funds are protected against unauthorized access and cyber threats, fostering a secure trading environment.
Reputation and Reviews: Since its inception in 2018, AscendEX has built a solid reputation within the cryptocurrency community. User reviews often highlight the platform's reliability, wide range of services, and user-friendly interface, underscoring its standing as a reputable exchange in the crypto market.
Trading Volume and Liquidity: AscendEX supports a high trading volume and liquidity, which is crucial for traders looking to execute large trades without significantly affecting the market price. This high liquidity not only facilitates better price discovery but also enables efficient entry and exit from positions.
Customer Service: AscendEX is known for its robust customer support, offering quick and helpful responses to user inquiries and issues. This commitment to excellent customer service enhances user experience and trust, particularly for new traders who may need assistance navigating the platform.
Withdrawal and Deposit Policies: The platform’s policies on withdrawals and deposits are clear, secure, and user-centric, ensuring a smooth process for moving funds into and out of the exchange. AscendEX’s efficient handling of these critical operations reinforces its reliability and the trust users place in it.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

Altcoin Trader (Pty) Ltd.

Regulation

Not regulated

Year founded

2018

2014

Founder

Elvisco Carrington

Richard de Sousa

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bingx	FEATURES	Altcoin Trader
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	AscendEX allows small minimum trades, making it accessible for users with smaller capital.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	Competitive fees, especially favorable for high-volume traders with further discounts available.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Offers a broad range of over 100 cryptocurrencies, catering to diverse trader demands.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Features an extensive array of trading pairs, facilitating varied and flexible trading strategies.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	Generally transparent about fees and terms, though some details on security could be clearer.
While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users	Credit/Debit Card	AscendEX lacks an exchange card feature, which could enhance the usability of cryptocurrencies for everyday transactions and offer additional benefits to its users.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Provides secure storage options with cold storage and multi-factor authentication.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Offers competitive staking rewards and various incentives for participation in trading activities.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and ease of use.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Robust customer support with responsive service via multiple channels.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Efficient deposit and withdrawal processes are in place, although adding more fiat options could improve accessibility and convenience.

Key features

Analysis tools

Trading signals, technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Instant EFT payments, savings wallets, recurring buy orders, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

50+

20+

User-friendliness

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

Altcoin Trader is known for its simple and user-friendly interface, which makes it accessible for new traders. The platform focuses on ease of use, ensuring that buying and selling cryptocurrencies is straightforward.

Value for money

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for traders.

Delivers decent value for money, especially for South African users, with competitive fees and easy access to local banking options.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

South Africa, Namibia, Botswana, Zimbabwe, Lesotho

Best for

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

Best for South African investors looking for easy access to local banking options and competitive fees, making it ideal for regional users.

Base currencies available

USD, BTC, USDT

ZAR, BTC

Account

Trading

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

Altcoin Trader is ideal for users looking to trade a variety of altcoins. The platform is easy to navigate, but its fee structure is slightly higher than average. Additionally, the platform’s customer support could use improvement.

Deposit and withdrawal

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

Altcoin Trader provides bank transfer and cryptocurrency deposit options. Withdrawals are usually processed within 24 hours. Fees are relatively low, making it accessible for beginners.

Account opening process

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

Altcoin Trader has a simple account registration process. It requires basic personal information, proof of identity, and address verification. The process is quick, usually taking less than a day, making it accessible for new users.

KYC required?

Customer Service

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

Altcoin Trader provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 availability can be a downside for users needing immediate assistance.

Security

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

Altcoin Trader employs standard security measures like 2FA and encryption. It lacks regulation from major financial bodies, which could be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend AscendEX for both new and experienced traders looking for a comprehensive crypto trading platform. Its robust security measures, extensive range of cryptocurrencies, and competitive trading fees make it a reliable choice. The platform’s user-friendly interface, coupled with excellent customer support, ensures a smooth trading experience, making it well-suited for anyone looking to delve into the crypto market.

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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.