Comparison of Gate.Io vs Bydfi [ 2024 ]

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

Your expert: Alejandro Borja

Gate.Io

Your expert: Xavier Tarrasó

Bydfi

Main points

Fees

0,20%

Earns

Customer service

4/5

0,10%/0,30%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.

4.0 – Competitive fees with additional benefits for copy trading.

Level

0,20%

0,10%/0,30%

Brief explanation

Gate.io offers a competitive and transparent fee structure. The platform charges a flat trading fee of 0.2% for both makers and takers, which is slightly below the industry average of around 0.25%. This flat fee structure simplifies the cost calculation for users, regardless of their trading volume. For high-volume traders, Gate.io offers a tiered fee discount system. Users who hold the platform’s native token, GateToken (GT), and opt to pay fees with it can receive up to a 25% discount on trading fees. Additionally, purchasing GT points or reaching higher VIP levels through increased trading volumes can further reduce fees, with potential discounts ranging from 30% to 70%. Deposits on Gate.io are free of charge, which is a significant advantage for users. However, withdrawal fees vary depending on the cryptocurrency being withdrawn. For example, the fee for withdrawing Bitcoin is 0.0005 BTC, which is competitive compared to the industry average. While Gate.io does not support fiat withdrawals, it allows users to deposit fiat currencies through third-party services like Banxa, MoonPay, and Simplex. These services charge their own fees, which can be relatively high. Overall, Gate.io’s fee structure is designed to be fair and transparent, catering to both casual traders and high-volume users with various discount options and competitive withdrawal fees.

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.

Gate.Io

Year Founded: Gate.io was founded in 2013, making it one of the older cryptocurrency exchanges. Its longevity in the market indicates a level of stability and experience in handling crypto assets.
Customer Service: The platform offers 24/7 customer support via live chat, email, and support tickets. While there have been mixed reviews regarding response times, the availability of multiple support channels is a positive aspect for users needing assistance.
Number of Users: The exchange has a substantial user base, with millions of registered users. This large user base reflects the platform's popularity and trustworthiness among crypto traders.
Trading Volume and Liquidity: Gate.io is known for its high trading volume and liquidity, ranking among the top exchanges globally. This high volume ensures that users can easily buy and sell assets without significant price slippage.
Security Methods: Gate.io employs robust security measures, including cold storage for the majority of user funds, two-factor authentication, and SSL encryption. These measures are designed to protect user assets and personal information from potential breaches.

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

Token GT (GateToken)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Gate Technology Inc.

Unknown

Regulation

Not regulated

Year founded

2013

Unknown

Founder

Lin Han

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Gate.Io	FEATURES	Bydfi
Minimum trade size is $10, making it accessible for small investors.	Minimum Trade	Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
Flat fee of 0.2% for both makers and takers, competitive in the industry.	Trading and Transaction Fees	Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Over 1,400 cryptocurrencies available, providing extensive trading options.	Number of Cryptocurrencies	Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Supports a wide range of trading pairs, enhancing trading flexibility.	Crypto-to-Crypto Trading Pairs	Offers a robust selection of trading pairs, enabling versatile trading strategies.
Good security measures but lacks full transparency in some areas.	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.
Gate.io does not currently offer its own exchange card for customers to use for in-store purchases and receive benefits.	Credit/Debit Card	An exchange card is absent, which limits convenience for everyday transactions.
Utilizes both hot and cold storage, with the majority of funds kept offline.	Storage Offering	Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Offers various staking and earning opportunities with competitive returns.	Staking and Rewards	Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Robust mobile app available on iOS and Android, well-rated for Android users but mixed reviews for iOS.	Mobile App and Desktop	The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Provides 24/7 support via live chat and email, though response times and quality vary.	Customer Service	Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Crypto deposits are free; withdrawal fees vary by asset, no fiat withdrawals supported.	Deposit and Withdraw	Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.

Key features

Analysis tools

Advanced charting tools, technical indicators

Basic tools for derivatives trading

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, futures trading, staking, Gate.io Earn

Copy trading, futures trading, staking, Bydfi Academy

Anonymity

Yes

Key points

Available cryptocurrencies

800+

Limited, derivatives focused

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

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 good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

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

Suitable for traders of all experience levels looking for a platform with a wide range of cryptocurrencies 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

Gate.io offers a wide range of cryptocurrencies and advanced trading tools. It has competitive fees but can be complex 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

Gate.io supports a wide range of deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with competitive 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

Gate.io provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

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

Gate.io provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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

Gate.io provides extensive security measures, including 2FA and cold storage. It is not regulated by major financial authorities, which might be a concern for some investors.

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 in cryptocurrency exchanges, I highly recommend Gate.io for its comprehensive trading features and extensive selection of cryptocurrencies. With over 1,400 coins and a wide range of trading pairs, Gate.io offers excellent opportunities for diversifying your investment portfolio. The platform’s robust security measures, including cold storage and two-factor authentication, provide peace of mind for users concerned about the safety of their assets. While the interface may be complex for beginners, its advanced tools make it a powerful choice for experienced traders. Despite some limitations with fiat support, the competitive fees and strong liquidity make Gate.io a top choice for serious cryptocurrency enthusiasts.

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.