Comparison of Pionex vs Switchere [ 2024 ]

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

Your expert: Alejandro Borja

pionex

Pionex

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

Your expert: Xavier Tarrasó

switchere

Switchere

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

Main points

Fees

0.05%

Earns

Yes

Customer service

3/5
only card 3.60%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

No

Buy and hold


Comparison of fees

Rating

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

Level

0.05%
only card 3.60%

Brief explanation

Pionex’s trading fee structure is notably competitive, designed to cater to both frequent and casual traders. The platform charges a flat trading fee of 0.05% per transaction, which applies to both makers and takers. This fee rate is among the lowest in the cryptocurrency exchange industry, making Pionex an attractive option for traders looking to minimize costs while maximizing returns. Additionally, the integration of trading bots at no extra cost enhances the value, as these bots can execute trades automatically based on predefined strategies, further optimizing trading expenses for users.
Switchere’s fee structure is designed with simplicity in mind, catering to users who value straightforward transactions. The exchange primarily charges a fee on the conversion of fiat to crypto, and this fee is transparently incorporated into the exchange rate displayed at the time of purchase. The typical transaction fee ranges from 1% to 2%, depending on the payment method and the specific currencies involved. This simplicity allows users, especially beginners, to easily understand the costs associated with their transactions without worrying about additional hidden charges.

Pionex

pionex
Go exchange
  • Regulation: Pionex is registered with FinCEN as a Money Services Business (MSB), which means it complies with several regulatory standards aimed at preventing money laundering and financial fraud. This registration enhances user trust as the platform adheres to stringent financial regulations.
  • Security methods: Pionex prioritizes security with several layers of protection, including bank-level security systems and encrypted algorithms to safeguard user data and assets. The platform also employs two-factor authentication (2FA) for additional security during login and withdrawal processes.
  • Customer service: Pionex offers a comprehensive customer support system, including a detailed FAQ, a responsive email support team, and a community on various social media platforms where users can seek help and share their experiences.
  • Trading volume and liquidity: Thanks to its liquidity aggregation that combines liquidity from Binance and Huobi Global, Pionex provides high trading volume and liquidity, ensuring that trade orders are executed swiftly and at competitive prices.
  • Reputation and Reviews: Pionex has garnered positive reviews from users primarily due to its user-friendly interface and the unique offering of built-in trading bots. The community feedback on the effective functioning of these bots and the overall reliability of the platform is generally favorable, reinforcing its reputation in the crypto community.
  • Pros
  • Automated trading bots
  • Low trading fees
  • High liquidity aggregation
  • Cons
  • Complex interface for beginners
  • Limited regulatory information

Switchere

switchere
Go exchange
  • Year Founded: Switchere was established under Estonia's progressive and stringent regulatory framework, enhancing its credibility as a trustworthy platform.
  • Security Methods: Adhering to rigorous security protocols required by Estonian law, Switchere ensures that user data and funds are protected through advanced security measures, including SSL encryption and compliance with AML (Anti-Money Laundering) policies.
  • Reputation and Reviews: Switchere has built a positive reputation among its users for its ease of use and reliable customer service. This is reflected in consistently good reviews across various consumer feedback platforms.
  • Transparency: The platform maintains high transparency in transaction fees and exchange rates. It discloses all costs upfront, ensuring users are not met with unexpected charges.
  • Customer Service: Switchere offers robust support with quick response times, providing users with a dependable resource for resolving issues and inquiries, which is essential for new entrants in the crypto market.
  • Pros
  • Easy for beginners
  • No registration for small buys
  • Instant card purchases
  • Cons
  • Limited cryptocurrency options
  • Higher transaction fees

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

Yes
No

Cripto/debit card

Yes
No

Company information

Full name

Pionex Inc.
Unknown

Regulation

Not regulated
Not regulated

Year founded

2019
2019

Founder

Unknown
Unknown

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Pionex FEATURES Switchere
Pionex allows for low minimum trade amounts, making it accessible for beginners wanting to start small.
Minimum Trade
Switchere offers a low minimum trade amount, making it accessible for beginners or those looking to experiment with small transactions.
Offers highly competitive fees, particularly attractive because of the zero-fee trading with bots, which is a standout feature.
Trading and Transaction Fees
The fees are relatively high compared to industry standards, which might deter frequent traders or those dealing in larger volumes.
Supports a wide range of cryptocurrencies, providing users with a diverse selection of trading options.
Number of Cryptocurrencies
Switchere supports a limited but essential selection of cryptocurrencies, suitable for those new to crypto but restrictive for diverse portfolios.
Extensive range of trading pairs, allowing users flexibility in their trading strategies.
Crypto-to-Crypto Trading Pairs
Offers basic trading pairs; however, it lacks the variety provided by larger exchanges, limiting strategic trading options.
While Pionex offers good information on its operations, more clarity on regulatory compliance and security measures could improve transparency.
Website Transparency
The website clearly outlines fees, processes, and security measures, providing users with the information they need to make informed decisions.
PointPay does not currently offer a card for customers to use in their daily transactions or at shops.
Credit/Debit Card
Switchere focuses on direct cryptocurrency purchases with fiat and does not provide additional financial tools like a branded exchange card.
Provides secure storage options, but enhanced details about its cold storage capabilities would be beneficial.
Storage Offering
Offers secure storage solutions, though it might lack some advanced security features available on more specialized platforms.
Offers competitive staking rewards, particularly through its bot-driven strategies, though it could expand its rewards program.
Staking and Rewards
Limited options for staking and rewards, which could be expanded to encourage longer-term investments and user retention.
Both platforms are highly user-friendly and well-designed, offering full functionality.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and reliable, though they may lack some functionalities expected by advanced users.
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Customer Service
Generally responsive and helpful, but some users may experience delays during peak times.
Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Deposit and Withdraw
The process is straightforward, but the high fees for some operations and limited methods for withdrawal can be a drawback.

Key features

Analysis tools

Integrated bots for automated trading
No significant tools, mainly a buying platform

Mobile APP

Yes
No

Security

High 4,6/5
High 4/5

Additional features

Automated trading bots, margin trading, staking, Pionex Earn
Instant crypto purchases, staking, Switchere wallet, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

120+ (with trading bots)
10+

User-friendliness

Pionex 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.
Switchere provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides good value for money with low trading fees and automated trading bots, making it an attractive option for new and experienced traders.
Provides decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

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

Best for

Ideal for traders interested in automated trading bots and low trading fees.
Ideal for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USDT, BTC
EUR, USD, BTC

Account

Trading

Pionex is known for its automated trading bots, offering a unique feature for users. It has a good range of cryptocurrencies and competitive fees but can be complex for beginners.
Switchere provides a secure platform with easy fiat integration and a decent range of cryptocurrencies. It offers competitive fees but lacks advanced trading tools.

Deposit and withdrawal

Pionex offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Switchere supports various deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed efficiently, with low fees.

Account opening process

Pionex provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.
Switchere offers a straightforward and user-friendly account registration process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

Pionex provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
Switchere 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

Pionex 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.
Switchere employs robust security features, including 2FA and encryption. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a seasoned user and reviewer of cryptocurrency exchanges, I find Pionex to be an intriguing option, particularly for those who are fascinated by automated trading. The built-in trading bots, which offer diverse strategies and the ability to operate 24/7, make Pionex a standout choice for traders who aim to maximize their trading efficiency without constant personal monitoring. This feature alone simplifies the trading process significantly and can be a game-changer for both new and experienced traders. However, it’s important to approach with a degree of caution and ensure understanding of how these bots operate to truly benefit from what Pionex has to offer.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency expert reviewing various platforms, I find Switchere to be a notably accessible exchange for newcomers to the cryptocurrency market. The platform’s straightforward design eliminates the usual complexities associated with crypto transactions, making it exceptionally user-friendly. For anyone looking to start their journey into cryptocurrencies with minimal hassle, Switchere’s ability to process direct purchases through credit and debit cards offers a significant convenience. However, while it’s ideal for beginners due to its simplicity, more experienced traders might find the limited selection of cryptocurrencies and higher transaction fees a bit restrictive. Therefore, I recommend Switchere for those new to the space or for casual users not looking to engage in more complex trading activities.

Read pionex review

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Read switchere review

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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.

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