Comparison of Bingx vs Yellow Card [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Your expert: Xavier Tarrasó

Yellow Card

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

hidden

Fees

Earns

4/5

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.

3.8 – Reasonable fees with strong local support in Africa.

Level

0,10%

hidden

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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

Yellow Card’s fee structure is designed to be straightforward and competitive, particularly catering to its primary audience in Africa. The platform charges a nominal fee on transactions, which varies slightly depending on the payment method used and the specific fiat or cryptocurrency involved. These fees are generally on par with regional standards and are structured to encourage frequent small transactions, which is typical among its user base. This makes Yellow Card an appealing option for users who value transparency and affordability in their trading activities.

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.

Yellow Card

Focus on African Markets: Yellow Card specifically targets African users, understanding and addressing the unique financial challenges and needs in the region, which highlights their commitment to their user base.
Reputation and Reviews: Despite being relatively new, Yellow Card has garnered positive reviews for its user-friendly interface and the ease with which users can trade cryptocurrencies, which is crucial for building trust among new entrants to the crypto space.
Customer Service: Yellow Card places a strong emphasis on customer support, ensuring that users have access to help whenever they need it. This is especially important for users new to cryptocurrency, making the platform more approachable.
Security Methods: The exchange employs robust security measures to protect user accounts and transactions, which is fundamental for user confidence in handling digital assets.
Year Founded: Having been established in 2016, Yellow Card has had time to develop and refine its services, gaining valuable experience and insights into the market, which help in providing reliable and effective services.

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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

Yellow Card Financial

Regulation

Not regulated

Year founded

2018

2016

Founder

Elvisco Carrington

Chris Maurice

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bingx	FEATURES	Yellow Card
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	Yellow Card supports relatively low minimum trades, making it accessible for beginners who might want to start small.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	The platform offers competitive fees, though not the lowest in the market. This could be more attractive with clearer fee structures.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Offers only a limited selection of cryptocurrencies, which could be a limitation for those looking to trade beyond the most popular coins.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Limited trading pairs are available, focusing primarily on major cryptocurrencies, which restricts trading strategies.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	Yellow Card’s website provides clear information about their services and fees, enhancing user trust.
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	Yellow Card lacks an exchange card, missing an opportunity to extend additional benefits and conveniences to its users.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Provides secure storage options, though details on cold storage or insurance would enhance user confidence further.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Offers basic staking services but lacks the variety and competitive rates found on more established platforms.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and highly functional, suitable for traders on-the-go or at home.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Generally responsive and helpful customer service, although peak times can see slower responses.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Supports multiple deposit and withdrawal methods, though some users may find the options limited compared to larger exchanges.

Key features

Analysis tools

Trading signals, technical analysis tools

Basic buying and selling, no advanced tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

Yes

Key points

Available cryptocurrencies

50+

Few, primarily major cryptocurrencies

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.

Yellow Card 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.

Provides decent value for money with competitive fees and strong local support in Africa, making it a good choice for regional users.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Nigeria, South Africa, Botswana, Kenya, Ghana

Best for

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

Ideal for African investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

USD, BTC, USDT

Multiple local currencies, 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.

Yellow Card is a popular exchange in Africa, offering easy fiat integration and a user-friendly platform. It supports a good range of cryptocurrencies but has higher fees compared to some other exchanges.

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.

Yellow Card is popular in 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.

Yellow Card provides a straightforward and user-friendly account registration 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?

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.

Yellow Card provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Africa.

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.

Yellow Card employs comprehensive security measures, including 2FA and cold storage. It is regulated by African authorities, ensuring high security for 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 closely analyzing Yellow Card, I appreciate its focused approach to serving the African market. Its user-friendly interface and support for local payment methods make it an excellent choice for newcomers. However, I recommend potential users consider the limited variety of cryptocurrencies offered. This platform is ideal for those starting their journey in crypto trading or those who primarily deal with major cryptocurrencies.

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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.