Comparison of Bingx vs Valr [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Investing risks losing your money

Your expert: Xavier Tarrasó

Valr

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

-0,01%/0,10%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Competitive fees with strong local support in South Africa.

Level

0,10%

-0,01%/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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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.

VALR’s commission structure is designed to be competitive and attractive to both novice and experienced traders. The exchange employs a tiered fee system where the trading fees decrease as the user’s monthly trading volume increases. This incentivizes higher trading volumes while maintaining affordability for smaller traders. Fees for typical trades start relatively low, with further reductions possible depending on the trade volume and currency pairs being traded. Additionally, VALR occasionally runs promotions that temporarily reduce fees or offer rebates, enhancing the trading experience.

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

Valr

Strong Security Measures: VALR employs robust security protocols including cold storage of assets, two-factor authentication, and secure encryption technologies to ensure user funds are protected against unauthorized access.
Compliance with Local Regulations: As a South African exchange, VALR adheres to local financial regulations and guidelines, which bolsters its credibility and reliability as a trustworthy platform in the eyes of both users and regulators.
High Trading Volume and Liquidity: VALR supports a high trading volume and offers substantial liquidity, making it easier for users to enter and exit positions, which is especially beneficial for traders looking to execute large volume trades.
Reputation and Reviews: Since its launch, VALR has built a solid reputation within the cryptocurrency community. Positive user reviews often highlight its user-friendly interface, range of supported cryptocurrencies, and responsive customer support.
Year Founded: Established in 2018, VALR has rapidly grown to become one of the leading exchanges in South Africa, demonstrating strong market resilience and continuous adaptation to user needs and technological advancements.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

VALR Pty Ltd.

Regulation

Not regulated

Regulated in Sudáfrica

Year founded

2018

2019

Founder

Elvisco Carrington

Farzam Ehsani

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bingx	FEATURES	Valr
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	VALR allows relatively low minimum trades, making it accessible for beginners to start trading without requiring large initial investments.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	One of VALR’s strongest features is its competitive fee structure, which ranks among the lowest in the industry, benefiting all types of traders.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	The exchange offers a wide selection of cryptocurrencies, providing ample opportunities for diversification.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	VALR supports a broad range of trading pairs, allowing users to trade directly between various cryptocurrencies without needing to convert to fiat.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	While VALR generally provides clear information, some users might find details regarding certain policies and operational procedures could be better highlighted.
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	The VALR card integrates seamlessly with the exchange, providing convenient access to funds and attractive rewards, enhancing the overall utility of the platform for everyday transactions.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	VALR offers secure storage options including cold storage, ensuring high security for stored digital assets.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	The platform provides competitive staking options and rewards, making it attractive for users looking to earn passive income.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	VALR offers both mobile and desktop platforms that are user-friendly and feature-rich, facilitating trading on-the-go as well as from a desktop setup.
Good customer support with room for improvement in response times and accessibility.	Customer Service	While available, customer service response times can be slow, which might frustrate users, especially those needing urgent support.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Deposits and withdrawals are facilitated smoothly, but improvements can be made in terms of speed and the variety of supported currencies and methods.

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

Staking, fiat on/off ramps, VALR Earn, institutional services

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.

VALR offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary 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 good value for money with competitive fees and strong local support in South Africa, making it a good choice for regional users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

South Africa

Best for

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

Suitable for South African investors looking for a reliable platform with competitive fees and strong local support.

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.

VALR is a popular exchange in South Africa, offering a user-friendly platform and easy fiat integration. It supports a good range of cryptocurrencies and competitive fees but lacks some 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.

VALR is popular in South Africa, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, 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.

VALR provides a seamless and fully digital account registration process. Users need to submit personal details and verify their identity. The process is quick and usually 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.

VALR provides customer support via email and live chat. The support team is responsive and helpful, 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.

VALR employs robust security features, including 2FA and cold storage. However, it is not regulated by 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 highly recommend VALR for anyone entering the cryptocurrency market in South Africa. The platform’s wide array of cryptocurrencies paired with some of the most competitive fees in the market makes it a top choice. However, if you’re trading from outside of South Africa or require swift customer support, you might want to consider these aspects before deciding.

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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.