Comparison of Bingx vs Buyucoin [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Investing risks losing your money

Your expert: Xavier Tarrasó

Buyucoin

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,24%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for social trading features.

3.7 – Reasonable fees but higher for certain payment methods.

Level

0,10%

0,24%

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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.

BuyUcoin charges a flat trading fee of 0.24% for each transaction, which is relatively competitive within the Indian cryptocurrency market landscape. This fee applies equally to both makers and takers, simplifying the cost structure and making it easy for users to understand exactly how much they will be charged per trade. This transparency in fee structure is a significant advantage, as it helps users plan their trading activities without worrying about variable costs or hidden charges. In addition to trading fees, BuyUcoin also implements withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally in line with industry standards, although they may be slightly higher for certain assets. Importantly, there are no deposit fees, which makes it economical for users to fund their accounts. Overall, the cost of trading on BuyUcoin is balanced by the convenience and range of features it offers, making it an attractive option for both new and experienced traders in the Indian market.

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.

Read bingx review

Buyucoin

Security Measures: BuyUcoin employs robust security protocols including SSL encryption, two-factor authentication (2FA), and cold storage of digital assets, ensuring that user funds and data are protected against unauthorized access.
Volume and Liquidity: BuyUcoin handles a significant trading volume, ensuring liquidity that facilitates easier and faster transactions without substantial price volatility, which is critical for both new and experienced traders.
Regulatory Compliance: Operating within the legal framework of India, BuyUcoin adheres strictly to the regulatory requirements set forth by Indian authorities, which reinforces its legitimacy and trustworthiness.
Transparency: BuyUcoin maintains transparency in its operations with clear information on trading fees, withdrawal charges, and other pertinent operational procedures, enabling users to make informed decisions.
Customer Service: The exchange is committed to providing quality customer service with a comprehensive support system that includes FAQs, email support, and social media engagement, ensuring that user inquiries and issues are addressed promptly.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

iBlock Technologies Private Limited

Regulation

Not regulated

Year founded

2018

2016

Founder

Elvisco Carrington

Shivam Thakral, Devesh Aggrawal, Atulya Bhatt

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bingx	FEATURES	Buyucoin
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	BuyUCoin allows users to start trading with relatively small amounts, making it accessible for beginners.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	The platform offers competitive trading fees, although they can be higher compared to global standards, impacting high-volume traders.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Supports over 40 cryptocurrencies, providing a decent range for traders looking to explore different digital assets.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	BuyUCoin offers a moderate number of crypto-to-crypto trading pairs, sufficient for new traders but limited for advanced users.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	The website provides essential information; however, some users may find details on fees and specific policies need clearer presentation.
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	While BuyUcoin provides a range of innovative cryptocurrency services and trading options, the absence of a branded exchange card limits the convenience and utility for users seeking to spend cryptocurrency directly in stores or to enjoy additional cardholder benefits.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	BuyUCoin offers a secure wallet service for storing cryptocurrencies, although it’s not as feature-rich as some dedicated wallet services.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Currently lacks options for staking and earning rewards, which could enhance user engagement and investment returns.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly, providing a seamless trading experience across devices.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Slow response times have been a notable issue; improvements are needed to provide timely and effective support.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	BuyUCoin supports a variety of deposit and withdrawal methods, including direct bank transfers and UPI, though international options are limited.

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

Staking, BuyUCoin Cash rewards, recurring buys, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

50+

30+

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.

BuyUCoin 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

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

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

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

India, United States, United Kingdom, Canada, Australia

Best for

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

Suitable for Indian investors and other traders looking for a user-friendly platform with competitive fees.

Base currencies available

USD, BTC, USDT

INR, USDT

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.

BuyUCoin is an Indian exchange with a good range of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading features.

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.

BuyUCoin offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

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.

BuyUCoin provides an easy account registration process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

KYC required?

Yes

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.

BuyUCoin offers customer support through email and live chat. The support team is responsive and helpful, but the absence of phone support and limited hours can be a limitation.

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.

BuyUCoin employs standard security measures, including 2FA and encryption. 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 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 recommend BuyUCoin for Indian investors looking to enter the cryptocurrency market. Its user-friendly interface, combined with a diverse selection of cryptocurrencies and innovative features like a virtual demo account and NFT marketplace, makes it an appealing choice. However, potential users should be aware of its limited international accessibility and slower customer service, which could impact trading efficiency and user satisfaction. Overall, BuyUCoin is a solid choice for those based in India seeking a comprehensive crypto trading and investment platform.

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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.