Comparison of Bydfi vs Mudrex [ 2024 ]

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

Your expert: Alejandro Borja

bydfi

Bydfi

  • Threenvest valuation: 3,9/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Your expert: Xavier Tarrasó

mudrex

Mudrex

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Main points

Fees

0,10%/0,30%

Earns

Yes

Customer service

3/5
0,25%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for copy trading.
3.9 – Reasonable fees with additional benefits for automated trading.

Level

0,10%/0,30%
0,25%

Brief explanation

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.
Mudrex does not charge any trading fees for its automated trading bot services, which is a significant advantage for users looking to maximize their profits without worrying about the cost of each transaction. This fee structure is particularly beneficial for both high-frequency traders and those new to the crypto markets, as it allows them to experiment with different strategies without the burden of additional costs. The absence of trading fees makes Mudrex an attractive platform for users seeking to optimize their trading efficiency and profitability in the cryptocurrency market.

Bydfi

bydfi
Go exchange
  • 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.
  • Pros
  • User-friendly interface.
  • Robust security protocols.
  • Wide cryptocurrency selection.
  • Cons
  • Higher transaction fees.
  • Limited customer support.

Mudrex

mudrex
Go exchange
  • Security methods: Mudrex places a high priority on security with robust measures to protect user funds and data. This includes using encryption for data protection and storing the majority of user funds in cold storage to reduce the risk of hacking.
  • Reputation and Reviews: Mudrex has garnered positive feedback from users for its innovative platform and customer service. Its unique approach to automated trading through bots has been particularly well-received, contributing to its strong reputation in the crypto community.
  • Transparency: The platform operates on a 'no profit, no fee' basis, which ensures that they only profit when their users do. This policy promotes transparency and aligns the interests of the platform with those of its users.
  • Customer service: Mudrex offers dedicated customer support that assists users with their queries and concerns promptly. This reliable customer service enhances user trust and satisfaction.
  • Innovative investment solutions: The use of algorithmic trading bots allows users to automate their trading strategies, making sophisticated trading accessible to novices and reducing the barrier to entry in the complex world of cryptocurrency trading.
  • Pros
  • User-friendly platform
  • Supports algorithmic strategies
  • Ideal for passive investors
  • Cons
  • Limited direct trading tools
  • Primarily for passive trading

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Mudrex Inc

Regulation

Not regulated
Not regulated

Year founded

Unknown
2019

Founder

Unknown
Edul Patel

Payment methods

Transfers

No
No

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bydfi FEATURES Mudrex
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
Minimum Trade
Mudrex allows users to start with relatively small amounts, making it accessible for beginners.
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Trading and Transaction Fees
One of Mudrex’s significant advantages is its no trading fee policy on automated bot strategies, which is highly cost-effective.
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Number of Cryptocurrencies
While Mudrex supports popular cryptocurrencies, its range is less extensive compared to larger exchanges.
Offers a robust selection of trading pairs, enabling versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Mudrex focuses more on trading strategies than on offering a vast number of trading pairs.
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.
Website Transparency
Mudrex provides clear information about its trading strategies and results, but could improve transparency regarding its operational aspects.
An exchange card is absent, which limits convenience for everyday transactions.
Credit/Debit Card
Mudrex does not currently offer a debit or credit card for customers to use in their day-to-day transactions or at their shops.
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Storage Offering
Mudrex offers secure storage options, with a majority of assets held in cold storage ensuring high security.
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Staking and Rewards
Offers competitive staking opportunities and rewards, though these might be linked to specific conditions and availability.
The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Mobile App and Desktop
The Mudrex platform is accessible via desktop and has a functional mobile interface, although it may lack some features available on the desktop version.
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Customer Service
Generally responsive and helpful, but there could be improvements in wait times and support hours.
Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.
Deposit and Withdraw
Deposits are straightforward, but the platform currently lacks support for direct debit/credit card deposits, and withdrawal options could be more diverse.

Key features

Analysis tools

Basic tools for derivatives trading
Automated trading bots

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Copy trading, futures trading, staking, Bydfi Academy
Automated trading strategies, staking, Mudrex Coin Sets

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

Limited, derivatives focused
Platform for crypto algorithms, not direct trading

User-friendliness

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.
Mudrex 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

Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.
Provides good value for money with competitive fees and automated trading strategies, making it an attractive option for new and experienced traders.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
United States, Canada, United Kingdom, Australia, India

Best for

Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.
Ideal for traders interested in automated trading strategies and competitive fees.

Base currencies available

USDT (for derivative products)
Platform for crypto investments, not direct trading

Account

Trading

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.
Mudrex focuses on automated trading strategies, allowing users to invest in pre-built algorithms. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

Deposit and withdrawal

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.
Mudrex focuses on automated trading strategies and supports various deposit and withdrawal methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

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.
Mudrex offers a seamless and fully digital account opening process. Users need to provide personal information and verify their identity. The process is quick and typically completed within a day.

KYC required?

No
No

Customer Service

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.
Mudrex offers customer support via email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

Security

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.
Mudrex provides strong security with 2FA and encryption. Despite its robust security measures, the platform 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-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As one of the experts on our website, I would recommend Mudrex for anyone interested in cryptocurrency trading, especially if you’re looking to leverage the power of automated trading bots. Mudrex simplifies the process by providing a platform where even those with minimal trading experience can participate effectively. The user-friendly interface and the “no profit, no fee” model make it an appealing choice for both beginners and seasoned traders. Whether you’re looking to actively manage your investments or prefer a more hands-off approach, Mudrex offers tools that can help you achieve your financial goals in the crypto space.

Read bydfi review

View all comparisons against Bydfi

Read Mudrex review

View all comparisons against Mudrex

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.

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