Comparison of Bitfinex vs Pionex [ 2024 ]

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

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Pionex

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

0.05%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.

4.0 – Competitive fees with additional benefits for automated trading.

Level

0,10% /0,20%

0.05%

Brief explanation

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

Pionex’s trading fee structure is notably competitive, designed to cater to both frequent and casual traders. The platform charges a flat trading fee of 0.05% per transaction, which applies to both makers and takers. This fee rate is among the lowest in the cryptocurrency exchange industry, making Pionex an attractive option for traders looking to minimize costs while maximizing returns. Additionally, the integration of trading bots at no extra cost enhances the value, as these bots can execute trades automatically based on predefined strategies, further optimizing trading expenses for users.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

Pionex

Regulation: Pionex is registered with FinCEN as a Money Services Business (MSB), which means it complies with several regulatory standards aimed at preventing money laundering and financial fraud. This registration enhances user trust as the platform adheres to stringent financial regulations.
Security methods: Pionex prioritizes security with several layers of protection, including bank-level security systems and encrypted algorithms to safeguard user data and assets. The platform also employs two-factor authentication (2FA) for additional security during login and withdrawal processes.
Customer service: Pionex offers a comprehensive customer support system, including a detailed FAQ, a responsive email support team, and a community on various social media platforms where users can seek help and share their experiences.
Trading volume and liquidity: Thanks to its liquidity aggregation that combines liquidity from Binance and Huobi Global, Pionex provides high trading volume and liquidity, ensuring that trade orders are executed swiftly and at competitive prices.
Reputation and Reviews: Pionex has garnered positive reviews from users primarily due to its user-friendly interface and the unique offering of built-in trading bots. The community feedback on the effective functioning of these bots and the overall reliability of the platform is generally favorable, reinforcing its reputation in the crypto community.

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Direct link to the website

Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

iFinex Inc.

Pionex Inc.

Regulation

Not regulated

Year founded

2012

2019

Founder

Jean

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitfinex	FEATURES	Pionex
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	Pionex allows for low minimum trade amounts, making it accessible for beginners wanting to start small.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	Offers highly competitive fees, particularly attractive because of the zero-fee trading with bots, which is a standout feature.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	Supports a wide range of cryptocurrencies, providing users with a diverse selection of trading options.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	Extensive range of trading pairs, allowing users flexibility in their trading strategies.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	While Pionex offers good information on its operations, more clarity on regulatory compliance and security measures could improve transparency.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	PointPay does not currently offer a card for customers to use in their daily transactions or at shops.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Provides secure storage options, but enhanced details about its cold storage capabilities would be beneficial.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Offers competitive staking rewards, particularly through its bot-driven strategies, though it could expand its rewards program.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	Both platforms are highly user-friendly and well-designed, offering full functionality.
Customer service is available but response times can be slow during peak times.	Customer Service	Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

Integrated bots for automated trading

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, lending services, staking, Bitfinex Pulse (social network)

Automated trading bots, margin trading, staking, Pionex Earn

Anonymity

Yes

Key points

Available cryptocurrencies

150+

120+ (with trading bots)

User-friendliness

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

Pionex 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

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Provides good value for money with low trading fees and automated trading bots, making it an attractive option for new and experienced traders.

Countries of operation

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

Singapore, United States, Canada, Australia, United Kingdom

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Ideal for traders interested in automated trading bots and low trading fees.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT

USDT, BTC

Account

Trading

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

Pionex is known for its automated trading bots, offering a unique feature for users. It has a good range of cryptocurrencies and competitive fees but can be complex for beginners.

Deposit and withdrawal

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

Pionex offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

Account opening process

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking less than a day to complete.

Pionex provides 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

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

Pionex 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

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform for investors .

Pionex employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from 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 recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

Xavier Tarrasó

As a seasoned user and reviewer of cryptocurrency exchanges, I find Pionex to be an intriguing option, particularly for those who are fascinated by automated trading. The built-in trading bots, which offer diverse strategies and the ability to operate 24/7, make Pionex a standout choice for traders who aim to maximize their trading efficiency without constant personal monitoring. This feature alone simplifies the trading process significantly and can be a game-changer for both new and experienced traders. However, it’s important to approach with a degree of caution and ensure understanding of how these bots operate to truly benefit from what Pionex has to offer.

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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.