Comparison of Bingx vs Gatehub [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Gatehub

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

Fees

0,30%

Earns

Customer service

3/5

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with strong focus on simplicity and security.

Level

0,10%

0,30%

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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

GateHub charges a flat trading fee of 0.3% on all completed buy and sell orders, which is slightly above the industry average. The platform does not differentiate between maker and taker fees, applying the same rate to both. Additionally, there are no fees for dormant accounts or for creating a new wallet. Withdrawal fees, however, are relatively high, with a fixed fee of 0.005 BTC for Bitcoin withdrawals. Deposit fees vary depending on the method used, with no fees for cryptocurrency deposits but potential costs for fiat deposits, depending on the method .

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.

Gatehub

Security Methods: GateHub employs several advanced security measures to protect user assets. These include AES encryption to safeguard personal and financial data, two-factor authentication (2FA) for additional account protection, and state-of-the-art anomaly detection systems to identify and prevent malicious activities. Additionally, GateHub offers anti-phishing features to further enhance account security.
Insurance: GateHub provides insurance via the Coincover platform, allowing users to insure their cryptocurrency holdings up to $100,000. This insurance offers a significant safety net for users, protecting their investments against potential breaches and ensuring peace of mind.
Number of Users: GateHub boasts a substantial user base, with over 1.5 million users as of July 2023. This large number of users indicates a level of trust and satisfaction within the crypto community, suggesting that GateHub is a reliable platform for trading and storing digital assets.
Regulation and Compliance: GateHub is governed by English law and adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This regulatory compliance ensures that the platform operates within legal frameworks, adding a layer of legitimacy and trust for users.
Transparency: GateHub is transparent about its operations, including its security measures and insurance options. This openness helps build trust with users by providing clear information on how their assets are protected and what measures are in place to secure their investments.

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Features	Bingx	Gatehub
Minimum Trade	The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum trade size is $10, making it accessible for small investors .
Trading and Transaction Fees	Competitive fees compared to industry standards, making it economical for frequent trading.	Flat trading fee of 0.3%, slightly above the industry average. High withdrawal fees for BTC at 0.005 BTC .
Number of Cryptocurrencies	Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Supports 8 major cryptocurrencies including BTC, ETH, and XRP .
Crypto-to-Crypto Trading Pairs	A wide array of trading pairs provides good options for crypto-to-crypto trading.	Offers trading pairs primarily with XRP, USD, and EUR, but lacks diversity compared to top exchanges .
Website Transparency	Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Transparent about fees and services, detailed fee page available .
Credit/Debit Card	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	Users can deposit funds using credit and debit cards, although fees apply.
Storage Offering	Offers robust storage solutions including cold storage options to secure user funds.	Supports secure storage with 70% of assets in cold storage, AES encryption, and 2FA .
Staking and Rewards	Provides staking options with competitive rewards, enhancing passive earning potential.	Limited staking options and reward programs compared to competitors .
Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	User-friendly interface on mobile and desktop, but mobile app development still in progress .
Customer Service	Good customer support with room for improvement in response times and accessibility.	Offers live chat and email support, but response times can be slow .
Deposit and Withdraw	Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Multiple methods for deposit and withdrawal, but high withdrawal fees and no credit card support .

Key features

Analysis tools

Trading signals, technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Wallet services, fiat on/off ramps, staking, Gatehub trading platform

Anonymity

Yes

Key points

Available cryptocurrencies

50+

10+ (focus on XRP and similar assets)

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.

Gatehub provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 competitive fees and strong security features, though it may lack some advanced trading features.

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.

Ideal for traders seeking a secure platform with competitive fees and a focus on simplicity.

Base currencies available

USD, BTC, USDT

USD, EUR, 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.

GateHub provides a secure and user-friendly platform with easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

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.

GateHub provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

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.

GateHub offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient 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.

GateHub offers support via email and live chat. The support team is responsive, but the lack of 24/7 support may 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.

GateHub offers strong security with 2FA and encryption. Despite its robust 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 an expert in the cryptocurrency market, I recommend GateHub primarily for its user-friendly interface and robust security features. The platform is particularly suitable for beginners due to its straightforward design and real-time portfolio analytics. GateHub’s strong focus on Ripple (XRP) and its integration with fiat currencies make it a versatile choice for those looking to manage both crypto and traditional assets. However, potential users should be mindful of the high withdrawal fees and the limited selection of cryptocurrencies. Overall, GateHub is a reliable platform for those who prioritize security and ease of use in their crypto trading experience.

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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.