Comparison of Coinlist vs Bydfi [ 2024 ]

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

Your expert: Alejandro Borja

Coinlist

Your expert: Xavier Tarrasó

Bydfi

Main points

Fees

0,25%/0,50%

Earns

Customer service

3/5

Fees

0,10%/0,30%

Earns

Yes

Customer service

3/5

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

3.9 – Competitive fees with access to exclusive token sales.

4.0 – Competitive fees with additional benefits for copy trading.

Level

0,25%/0,50%

0,10%/0,30%

Brief explanation

CoinList charges a commission based on the transaction amount, which varies depending on the specific terms of each token sale or trade on the platform. The platform is known for its ability to handle initial coin offerings (ICOs) and provides access to new digital currencies that aren’t available on more mainstream exchanges. This focus on early-stage investments does mean that fees might be higher in certain cases, especially for exclusive or early access tokens. However, these fees are generally considered competitive within the industry, particularly given the unique access CoinList provides.

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.

Coinlist

Year Founded: Established in 2017, CoinList has rapidly developed a reputation for bridging the gap between emerging blockchain projects and serious investors, ensuring a stable platform with a track record of successful initial coin offerings (ICOs).
Reputation and Reviews: Despite some challenges, CoinList holds a strong position in the market for its unique offerings, such as access to new tokens and ICOs. Its compliance with U.S. securities laws bolsters its credibility among investors.
Security Methods: CoinList emphasizes security by complying with regulatory requirements, ensuring that all listed projects meet stringent criteria and that user funds are protected through advanced security protocols.
Regulation: CoinList operates in compliance with the applicable U.S. securities regulations, making it a trustworthy platform for users looking to participate in ICOs and token sales legally and securely.
Volume Managed: While specific figures on trading volumes aren't disclosed, CoinList's capacity to manage large volumes is evident from its handling of major ICOs and token sales that attract substantial investor interest.

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.

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Payment methods

Transfers

Yes

Mastercard

Wire transfer

Yes

Card

Comparative table

Features	Coinlist	Bydfi
Minimum Trade	CoinList offers a flexible minimum trade amount, accommodating both small and large investors, though specifics can vary based on the cryptocurrency.	Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
Trading and Transaction Fees	Fees on CoinList are competitive but can be higher compared to some other exchanges, particularly for less common trading pairs.	Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Number of Cryptocurrencies	CoinList supports a variety of cryptocurrencies, especially new and emerging tokens not readily available on other platforms.	Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Crypto-to-Crypto Trading Pairs	Offers a robust selection of crypto-to-crypto trading pairs, focusing on new and innovative tokens.	Offers a robust selection of trading pairs, enabling versatile trading strategies.
Website Transparency	The website provides essential information; however, details about fees and some services could be more transparent.	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.
Credit/Debit Card	CoinList does not offer an exchange card for in-store purchases. Their focus is primarily on token sales and providing access to new cryptocurrencies.	An exchange card is absent, which limits convenience for everyday transactions.
Storage Offering	Provides secure storage options, including cold storage for major assets to ensure safety.	Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Staking and Rewards	CoinList offers competitive staking opportunities, especially for newer tokens that are exclusive to the platform.	Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Mobile App and Desktop	Both mobile and desktop interfaces are user-friendly and well-designed, though occasional bugs affect performance.	The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Customer Service	Customer service is a notable weak point, with slow response times and often unsatisfactory resolutions.	Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Deposit and Withdraw	Supports a range of deposit and withdrawal methods, but improvements are needed in processing times and clarity on fees.	Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.

Key features

Analysis tools

Basic information, no advanced tools

Basic tools for derivatives trading

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Token sales, staking, lending services, CoinList Pro exchange

Copy trading, futures trading, staking, Bydfi Academy

Anonymity

Yes

Key points

Available cryptocurrencies

50+, focuses on early access to new tokens

Limited, derivatives focused

User-friendliness

CoinList 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.

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 decent value for money with competitive fees and access to exclusive token sales, though it may not suit all traders.

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

Countries of operation

United States, Canada, United Kingdom, Australia, Germany

United States, Canada, United Kingdom, Australia, Singapore

Best for

Great for investors interested in accessing exclusive token sales and competitive fees.

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

Base currencies available

USD, BTC, USDT

USDT (for derivative products)

Account

Trading

CoinList is known for its support of new token launches and a wide range of cryptocurrencies. It offers competitive fees but has a complex interface that might be challenging for beginners.

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

CoinList offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawals are processed efficiently, usually within a day, with low fees.

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

CoinList offers a straightforward account opening process. Users need to provide personal information and verify their identity. The process is fully digital and usually completed within a day, making it user-friendly.

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

CoinList offers 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.

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

CoinList provides strong security with 2FA, encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some users.

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 a cryptocurrency expert on our website, I’d recommend CoinList for those looking to explore new and emerging tokens. CoinList offers unique early access to initial coin offerings and a platform that’s both innovative and regulatory compliant. While it has areas that could be improved—particularly in customer support and platform stability—its distinctive position in the market makes it a valuable choice for investors interested in the forefront of cryptocurrency innovations. If you’re ready to dive into new investment opportunities and are aware of the higher risks associated with new tokens, CoinList could be an exciting platform to consider.

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.