Comparison of Bitmex vs Luno [ 2024 ]

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

Your expert: Alejandro Borja

Bitmex

Your expert: Xavier Tarrasó

Luno

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5

≤0,10%

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

4.2 – Competitive fees with a focus on leveraged trading.

3.8 – Reasonable fees with strong local support in emerging markets.

Level

≤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.

Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the 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.

Luno

Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.

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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

Luno Pte Ltd.

Regulation

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

Regulated in Singapur y Sudáfrica

Year founded

2014

2013

Founder

Arthur Hayes, Ben Delo, Samuel Reed

Marcus Swanepoel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bitmex	FEATURES	Luno
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.	Minimum Trade	Luno allows small minimum trades, making it accessible for beginners to start with lower 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	Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
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	Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.	Crypto-to-Crypto Trading Pairs	Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits 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 Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
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	The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.	Storage Offering	Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.	Staking and Rewards	Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
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	Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.	Customer Service	Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.	Deposit and Withdraw	Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

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

Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

10+

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.

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

Provides decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market users.

Countries of operation

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

South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

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

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

BTC, USDT (for derivative products)

ZAR, NGN, MYR, IDR, EUR, 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.

Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks advanced trading tools.

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.

Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

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.

Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.

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.

Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable 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.

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for 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 an expert on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.

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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 Luno [ 2024 ]

Bitmex

Luno

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bitmex

Luno

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 Luno