Comparison of Bitmex vs Bydfi [ 2024 ]

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

Your expert: Alejandro Borja

Bitmex

Your expert: Xavier Tarrasó

Bydfi

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5

0,10%/0,30%

Fees

Yes

Earns

3/5

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.

4.0 – Competitive fees with additional benefits for copy trading.

Level

≤0,10%

0,10%/0,30%

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.

Bydfi’s commission structure is designed to be transparent and competitive, catering to both novice and experienced traders. The trading fees are based on a tiered structure that decreases as your trading volume increases, making it more attractive for high-volume traders. This approach not only encourages more frequent and higher volume trading but also ensures that traders can maximize their returns by reducing costs as they scale up their trading activities. For specific transactions, Bydfi charges a nominal fee, which is clearly outlined on their platform, ensuring that users are fully aware of the costs associated with their trading activities. This straightforward fee system is part of Bydfi’s commitment to providing a transparent trading environment.

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.

Bydfi

Year Founded and Stability: Bydfi was established with a clear vision to provide secure and accessible cryptocurrency trading options, rapidly earning a reputation for reliability and user satisfaction.
Reputation and Reviews: Bydfi is highly regarded within the crypto community, reflected through positive user reviews and ratings. Its commitment to user satisfaction and continuous improvement of its trading environment have contributed to its strong reputation.
Security Methods: Bydfi employs advanced security measures including two-factor authentication, cold storage solutions for the majority of assets, and ongoing security audits, ensuring a robust defense against potential cyber threats.
Customer Service: Bydfi offers round-the-clock customer support through multiple channels including live chat, email, and a comprehensive FAQ section. This responsiveness and accessibility demonstrate its dedication to providing a seamless user experience.
Volume Managed and Liquidity: Bydfi handles a significant trading volume, offering high liquidity which ensures that trades are executed swiftly and at predictable prices, making it a dependable platform for both high-frequency traders and casual investors.

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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

Unknown

Regulation

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

Not regulated

Year founded

2014

Unknown

Founder

Arthur Hayes, Ben Delo, Samuel Reed

Unknown

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Bitmex	FEATURES	Bydfi
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.	Minimum Trade	Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
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	Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
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	Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.	Crypto-to-Crypto Trading Pairs	Offers a robust selection of trading pairs, enabling versatile trading strategies.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.	Website Transparency	The Bydfi website provides clear and comprehensive information about trading procedures and fees, though some users might seek more in-depth details on certain operational aspects.
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	An exchange card is absent, which limits convenience for everyday transactions.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.	Storage Offering	Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.	Staking and Rewards	Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
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	The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.	Customer Service	Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.	Deposit and Withdraw	Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features

Basic tools for derivatives trading

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Copy trading, futures trading, staking, Bydfi Academy

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

Limited, derivatives focused

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.

Bydfi provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making the trading process smooth and efficient.

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.

Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

BTC, USDT (for derivative products)

USDT (for derivative products)

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.

BYDFi (formerly Bybit) focuses on derivatives trading with high leverage options. It is ideal for experienced traders but can be risky and complex for newcomers.

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.

BYDFi (formerly Bybit) focuses on cryptocurrency deposits and withdrawals. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

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.

BYDFi (formerly Bybit) provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

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.

BYDFi (formerly Bybit) offers support through email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

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.

BYDFi (formerly Bybit) ensures security with 2FA, encryption, and cold storage. Despite its strong security measures, it 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 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 one of the seasoned experts at Threenvest, I personally find Bydfi to be an appealing choice for both new and experienced cryptocurrency traders. The platform’s user-friendly interface makes it accessible for newcomers, while its robust security measures provide peace of mind, crucial for safeguarding investments in the often volatile crypto market. From my experience, Bydfi’s competitive fees and diverse range of cryptocurrencies cater effectively to diverse trading strategies, ensuring that both speculative traders and long-term investors can find value. If you’re seeking an exchange that combines usability with a strong focus on security, Bydfi certainly deserves your consideration.

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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 Bydfi [ 2024 ]

Bitmex

Bydfi

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bitmex

Bydfi

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 Bydfi