Comparison of Bitmex vs Altcoin Trader [ 2024 ]

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

Your expert: Alejandro Borja

Bitmex

Your expert: Xavier Tarrasó

Altcoin Trader

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5

0,10%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Competitive fees with a focus on leveraged trading.

3.5 – Competitive fees within South Africa but higher for international transactions.

Level

≤0,10%

0,10%

Brief explanation

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

AscendEX maintains a competitive and transparent fee structure, which is essential for both casual and serious traders. The platform typically charges a flat fee for both makers and takers, simplifying calculations for users. These fees are generally aligned with industry standards, ensuring that traders can engage in frequent trading activities without excessive costs. Additionally, AscendEX may offer tiered discounts based on the user’s monthly trading volume, which incentivizes higher trading activity with lower fees. For users looking to minimize costs while maximizing trading opportunities, AscendEX’s fee structure is designed to support a wide range of trading strategies and volumes, making it a compelling choice for those who value straightforward and equitable financial dealings in their trading platform.

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

Altcoin Trader

Security Methods: AscendEX employs a comprehensive array of security measures including SSL encryption, two-factor authentication, and cold storage of assets. These rigorous security protocols ensure that users’ data and funds are protected against unauthorized access and cyber threats, fostering a secure trading environment.
Reputation and Reviews: Since its inception in 2018, AscendEX has built a solid reputation within the cryptocurrency community. User reviews often highlight the platform's reliability, wide range of services, and user-friendly interface, underscoring its standing as a reputable exchange in the crypto market.
Trading Volume and Liquidity: AscendEX supports a high trading volume and liquidity, which is crucial for traders looking to execute large trades without significantly affecting the market price. This high liquidity not only facilitates better price discovery but also enables efficient entry and exit from positions.
Customer Service: AscendEX is known for its robust customer support, offering quick and helpful responses to user inquiries and issues. This commitment to excellent customer service enhances user experience and trust, particularly for new traders who may need assistance navigating the platform.
Withdrawal and Deposit Policies: The platform’s policies on withdrawals and deposits are clear, secure, and user-centric, ensuring a smooth process for moving funds into and out of the exchange. AscendEX’s efficient handling of these critical operations reinforces its reliability and the trust users place in it.

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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

HDR Global Trading Limited

Altcoin Trader (Pty) Ltd.

Regulation

Not regulated, enfrentó acciones legales en los EE. UU.

Not regulated

Year founded

2014

Founder

Arthur Hayes, Ben Delo, Samuel Reed

Richard de Sousa

Payment methods

Transfers

Yes

Mastercard

Wire transfer

Yes

Card

Comparative table

Bitmex	FEATURES	Altcoin Trader
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.	Minimum Trade	AscendEX allows small minimum trades, making it accessible for users with smaller capital.
BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.	Trading and Transaction Fees	Competitive fees, especially favorable for high-volume traders with further discounts available.
While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.	Number of Cryptocurrencies	Offers a broad range of over 100 cryptocurrencies, catering to diverse trader demands.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.	Crypto-to-Crypto Trading Pairs	Features an extensive array of trading pairs, facilitating varied and flexible trading strategies.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.	Website Transparency	Generally transparent about fees and terms, though some details on security could be clearer.
BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.	Credit/Debit Card	AscendEX lacks an exchange card feature, which could enhance the usability of cryptocurrencies for everyday transactions and offer additional benefits to its users.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.	Storage Offering	Provides secure storage options with cold storage and multi-factor authentication.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.	Staking and Rewards	Offers competitive staking rewards and various incentives for participation in trading activities.
Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and ease of use.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.	Customer Service	Robust customer support with responsive service via multiple channels.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.	Deposit and Withdraw	Efficient deposit and withdrawal processes are in place, although adding more fiat options could improve accessibility and convenience.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Instant EFT payments, savings wallets, recurring buy orders, OTC trading

Anonymity

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

20+

User-friendliness

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Altcoin Trader is known for its simple and user-friendly interface, which makes it accessible for new traders. The platform focuses on ease of use, ensuring that buying and selling cryptocurrencies is straightforward.

Value for money

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Delivers decent value for money, especially for South African users, with competitive fees and easy access to local banking options.

Countries of operation

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

South Africa, Namibia, Botswana, Zimbabwe, Lesotho

Best for

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Best for South African investors looking for easy access to local banking options and competitive fees, making it ideal for regional users.

Base currencies available

BTC, USDT (for derivative products)

ZAR, BTC

Account

Trading

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Altcoin Trader is ideal for users looking to trade a variety of altcoins. The platform is easy to navigate, but its fee structure is slightly higher than average. Additionally, the platform’s customer support could use improvement.

Deposit and withdrawal

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Altcoin Trader provides bank transfer and cryptocurrency deposit options. Withdrawals are usually processed within 24 hours. Fees are relatively low, making it accessible for beginners.

Account opening process

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

Altcoin Trader has a simple account registration process. It requires basic personal information, proof of identity, and address verification. The process is quick, usually taking less than a day, making it accessible for new users.

KYC required?

Yes

Customer Service

BitMEX offers customer support through email and live chat. The support team is knowledgeable and responsive, but the absence of phone support and limited availability can be a disadvantage.

Altcoin Trader provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 availability can be a downside for users needing immediate assistance.

Security

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Altcoin Trader employs standard security measures like 2FA and encryption. It lacks regulation from major financial bodies, which could be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend AscendEX for both new and experienced traders looking for a comprehensive crypto trading platform. Its robust security measures, extensive range of cryptocurrencies, and competitive trading fees make it a reliable choice. The platform’s user-friendly interface, coupled with excellent customer support, ensures a smooth trading experience, making it well-suited for anyone looking to delve into the crypto market.

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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.

Comparison of Bitmex vs Altcoin Trader [ 2024 ]

Bitmex

Altcoin Trader

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bitmex

Altcoin Trader

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bitmex and Altcoin Trader