Comparison of Bingx vs Coinmama [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Coinmama

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤3,99%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

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 – Higher fees but a simple and straightforward buying process.

Level

0,10%

≤3,99%

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

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.

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

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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

BingX Trading

Cmama Ltd.

Regulation

Not regulated

Registrado como empresa de servicios monetarios en los EE. UU.

Year founded

2018

2013

Founder

Elvisco Carrington

Asaph Schulman

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bingx	FEATURES	Coinmama
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	The website provides clear information about its services and fees, though more detailed data on security practices could enhance transparency.
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	Coinmama does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.

Key features

Analysis tools

Trading signals, technical analysis tools

No trading tools, primarily a buying platform

Mobile APP

Security

High 4,9/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Anonymity

Yes

Key points

Available cryptocurrencies

50+

10+

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.

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential features easily accessible.

Value for money

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

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

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

Best for

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

Best for beginners who want a simple and straightforward buying process, despite higher fees.

Base currencies available

USD, BTC, USDT

USD, EUR, GBP, AUD, CAD

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.

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks 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.

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

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.

Coinmama provides an easy and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

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.

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

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.

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could 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 one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

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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.