Comparison of Bingx vs Pointpay [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Pointpay

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

Fees

0.05%

Earns

Yes

Customer service

3/5

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

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

3.9 – Reasonable fees with additional benefits for crypto banking.

Level

0,10%

0.05%

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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

PointPay’s commission structure is designed to be competitive and accessible for traders of all levels. The platform primarily operates on a flat fee model for trading, charging fees that are generally considered lower than the industry average. For instance, PointPay charges a trading fee of 0.05% for both makers and takers, which is appealing because it is below the typical rates found at many other exchanges. This low fee structure is particularly advantageous for active traders who perform frequent transactions, as it helps to keep trading costs down and maximize potential profits. Moreover, the absence of different fees for makers and takers simplifies the trading process, making it easier for beginners to understand and calculate their trading costs upfront without surprises.

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.

Pointpay

Regulation Compliance: PointPay operates under the cryptocurrency laws of the UK and Estonia, providing a regulated environment which enhances user trust and security.
Security Features: The platform employs robust security measures, including two-factor authentication and encrypted communication, to protect user data and funds.
Reputation and Reviews: Since its launch, PointPay has maintained a positive reputation in the cryptocurrency community, supported by favorable user reviews that often highlight its reliability and user-friendly interface.
Customer Service: PointPay offers comprehensive customer support with multiple channels including live chat, ensuring users can get assistance whenever needed.
Innovative Financial Products: The integration of various financial services such as a crypto bank, a multi-currency wallet, and options for crypto-backed loans provides users with a versatile and comprehensive trading and banking experience.

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Features	Bingx	Pointpay
Minimum Trade	The minimum trade size is accessible for beginners, allowing small investments to start trading.	PointPay allows users to start trading with relatively low minimums, making it accessible for beginners.
Trading and Transaction Fees	Competitive fees compared to industry standards, making it economical for frequent trading.	PointPay offers competitive trading fees which are lower than many other platforms, making it cost-effective for traders.
Number of Cryptocurrencies	Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	While PointPay supports popular cryptocurrencies, its range is narrower compared to larger exchanges. More variety could enhance trading opportunities.
Crypto-to-Crypto Trading Pairs	A wide array of trading pairs provides good options for crypto-to-crypto trading.	The platform provides several trading pairs, but the selection is less extensive than what is found on more established exchanges.
Website Transparency	Highly transparent about trading processes and fees, providing clear and easy-to-find information.	PointPay maintains high transparency regarding fees, services, and operational procedures, which helps built trust among users.
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	This absence could be a significant drawback for users who seek the convenience of directly spending their crypto holdings in a traditional manner, such as through point-of-sale transactions or online shopping using a card linked directly to their cryptocurrency accounts.
Storage Offering	Offers robust storage solutions including cold storage options to secure user funds.	PointPay offers secure storage solutions, including a multi-currency wallet that supports various cryptocurrencies.
Staking and Rewards	Provides staking options with competitive rewards, enhancing passive earning potential.	The platform offers staking options, but the benefits and yields are less competitive compared to leading platforms focused on staking.
Mobile App and Desktop	Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	PointPay provides both mobile and desktop applications that are user-friendly and feature-rich, though some users may find the mobile app lacks certain advanced features.
Customer Service	Good customer support with room for improvement in response times and accessibility.	PointPay has a responsive customer service team accessible through multiple channels, although response times can vary during peak times.
Deposit and Withdraw	Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposits and withdrawals are handled efficiently, but the options for fiat transactions are limited, which could be inconvenient for some users.

Key features

Analysis tools

Trading signals, technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Crypto banking, staking, PointPay token (PXP) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

50+

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.

PointPay 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.

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, BTC, USDT

USD, 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.

PointPay provides a secure platform with a decent range of cryptocurrencies and competitive fees. It offers additional services like staking and loans but lacks advanced trading tools.

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.

PointPay supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low 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.

PointPay offers an easy and quick account registration process. Users need to provide 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.

PointPay offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback 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.

PointPay 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 a cryptocurrency analyst who has extensively reviewed various platforms, I highly recommend PointPay for both newcomers and seasoned traders. Its all-in-one platform is especially beneficial for users looking to manage multiple crypto activities from a single account. The ease of use, combined with robust security measures and a regulated environment, makes PointPay a trustworthy choice. Whether you’re interested in trading, staking, or simply managing a diverse portfolio, PointPay offers a user-friendly and comprehensive solution that caters to all your cryptocurrency needs.

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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.