Comparison of Coinw vs Bit [ 2024 ]

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

Your expert: Alejandro Borja

coinw

Coinw

  • Threenvest valuation: 4,2/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.20%

Earns

Yes

Customer service

3/5
0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Reasonable fees with additional benefits for high-volume trading.
3.6 – Reasonable fees but higher for certain advanced trading options.

Level

0.20%
0.07%/0.04%

Brief explanation

CoinW maintains a competitive and transparent fee structure tailored to benefit both casual and active traders. The exchange charges a base rate of 0.2% for both makers and takers, which can decrease significantly with increased trading volume thanks to their tiered fee system. This system not only incentivizes frequent trading but also rewards high-volume traders with even lower rates, making it an attractive option for those looking to execute large transactions. Additionally, CoinW does not charge different fees between takers and makers, simplifying the cost calculations for traders and providing a clear, straightforward trading cost framework.
Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

Coinw

coinw
Read coinw review
  • Security Methods: CoinW implements advanced security protocols including bank-level risk control systems and real-time reconciliation processes. This ensures that users' assets are protected against unauthorized access and potential cyber threats.
  • Regulation Compliance: CoinW operates with a compliance-first approach, adhering to international financial regulations. This commitment to regulatory standards enhances its trustworthiness and ensures a secure trading environment for its users.
  • Trading Volume and Liquidity: CoinW manages a significant trading volume, providing high liquidity which is essential for executing trades quickly and at desired prices. This high liquidity also reflects the trust and activity level of its large user base.
  • Customer Service: Despite some limitations in direct support channels like phone service, CoinW provides 24/7 customer support through its online channels, ensuring that user queries and issues are addressed promptly and effectively.
  • Reputation and Reviews: CoinW has earned positive acclaim within the industry, being recognized as the best rising star by Crypto Expo and the best exchange in Asia by Crypto 306. These accolades underscore its credibility and reliability in the competitive crypto exchange market.
  • Pros
  • Low transaction fees.
  • Extensive crypto asset variety.
  • Robust security protocols.
  • Cons
  • Limited customer support options.
  • Lacks educational resources.

Read coinw review

Bit

bit
Read coinw review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Unknown

Regulation

Not regulated
Regulation not specified

Year founded

Unknown
Unknown

Founder

Unknown
Unknown

Payment methods

Transfers

No
No

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Coinw FEATURES Bit
CoinW offers low minimum trade thresholds, making it accessible for beginners and those with smaller budgets to engage in trading.
Minimum Trade
Allows small minimum trades, accessible for those looking to start with modest amounts.
CoinW maintains competitive trading fees, starting at 0.2% for both makers and takers, which decrease with higher trading volumes.
Trading and Transaction Fees
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
With over 1,000 cryptocurrencies available, CoinW provides a vast array of trading options, catering to diverse investor interests.
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
The platform supports numerous crypto-to-crypto trading pairs, offering significant flexibility and opportunities for arbitrage.
Crypto-to-Crypto Trading Pairs
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
CoinW provides clear information on its fees and policies, although improvements can be made in disclosing full details on security practices and fund storage.
Website Transparency
The website provides clear and detailed information about fees, policies, and trading options.
CoinW lacks an exchange card for in-store purchases.
Credit/Debit Card
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
CoinW uses cold storage for the majority of its funds, enhancing security but details on the extent and management of these storages could be more transparent.
Storage Offering
High-level security storage solutions including cold storage options to protect user assets.
The exchange offers staking and rewards programs, but more detailed information and wider variety of options could improve user engagement.
Staking and Rewards
Offers staking options but with limited rewards compared to leading competitors.
Both the mobile app and desktop platform of CoinW are user-friendly and reliable, though occasional updates and feature enhancements would provide a smoother experience.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
While available 24/7 via chat, the lack of phone support and sometimes delayed responses are areas needing improvement.
Customer Service
Customer service is available, but response times can vary, impacting user experience during peak times.
CoinW offers multiple deposit and withdrawal methods, but the addition of fiat currency options could significantly enhance user convenience.
Deposit and Withdraw
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, futures trading, staking, CoinW Earn program
Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

100+
30+

User-friendliness

CoinW features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.
Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.

Value for money

Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Countries of operation

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

Best for

Suitable for beginners and experienced traders seeking a user-friendly platform with competitive fees.
Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Base currencies available

CNY, BTC
JPY, USD, EUR, BTC

Account

Trading

CoinW provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers competitive fees but lacks some advanced trading features.
BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.

Deposit and withdrawal

CoinW supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.
BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.

Account opening process

CoinW offers an easy and quick account opening process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day to complete.
BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.

KYC required?

No
No

Customer Service

CoinW offers customer support through email and live chat. The support team is responsive, but the lack of 24/7 support may be a limitation for some users.
BIT 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.

Security

CoinW employs comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert closely following the cryptocurrency exchange landscape, I’d like to share my insights on CoinW. This platform stands out primarily for its extensive selection of cryptocurrencies, accommodating over 1,000 different types, which makes it an attractive choice for traders looking to explore a variety of crypto assets. CoinW’s security measures are stringent, providing users with peace of mind when trading. Furthermore, their customer service is accessible 24/7 through chat, ensuring that assistance is always just a message away, although expanding support options could enhance user experience. In summary, if you’re seeking a platform with a wide array of trading options and solid security, CoinW is certainly worth considering.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

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View all comparisons against Bit

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.

More comparatives Coinw and Bit