Comparison of Wirex vs Biking [ 2024 ]

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

Your expert: Alejandro Borja

Wirex

Wirex

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

Investing risks losing your money

Your expert: Xavier Tarrasó

biking

Biking

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

Investing risks losing your money

Main points

Fees

1%

Earns

No

Customer service

3/5
0,10% /0,20%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with additional benefits for cardholders.
3.7 – Competitive fees but some charges for premium features.

Level

1%
0,10% /0,20%

Brief explanation

Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.
BiKing Exchange employs a competitive fee structure designed to accommodate both casual and high-volume traders. The platform charges a basic trading fee, with discounts available based on trading volume, encouraging active trading. This tiered fee approach ensures that both small-scale traders and large investors can operate efficiently. The fees are structured to be transparent and are clearly communicated on the platform, making it easy for users to understand how much they will be paying per transaction. This setup not only fosters a fair trading environment but also enhances the overall trading experience by minimizing unexpected costs.

Wirex

Wirex
Read Wirex review
  • Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
  • Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
  • Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
  • Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
  • Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.
  • Pros
  • User-friendly interface
  • Crypto-backed Visa card
  • Multi-currency support
  • Cons
  • High foreign exchange fees
  • Limited customer support

Read Wirex review

Biking

biking
Read Wirex review
  • Security Methods: BiKing Exchange employs robust security protocols, including multi-layer encryption, deep cold storage for funds, and multiple offline signatures for transactions. These measures provide strong safeguards against unauthorized access and loss of funds, establishing a secure trading environment.
  • Year Founded: Since its establishment in 2017, BiKing Exchange has shown consistent growth and stability in the highly volatile crypto market. This longevity is a testament to its adaptability and commitment to serving its users effectively, building trust over time.
  • Reputation and Reviews: The exchange has maintained a positive reputation within the cryptocurrency community. User reviews often highlight the reliability, user-friendly interface, and the responsive customer support provided by BiKing, indicating a high level of satisfaction among its clients.
  • Trading Volume and Liquidity: BiKing Exchange supports significant trading volume and liquidity, ensuring that users can execute trades quickly and at desired prices. This capability is crucial for both casual and serious traders who need to manage their portfolios efficiently and capitalize on market opportunities.
  • Customer Service: The platform provides 24/7 customer support, ensuring that user queries and issues are addressed promptly. This commitment to customer service enhances user trust, as participants know they have continuous support for any issues they might encounter.
  • Pros
  • Robust multi-layer security measures.
  • Professional, world-class technical team.
  • 24/7 responsive customer support.
  • Cons
  • No fiat currency support.
  • Limited cryptocurrency selection.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Wirex Limited
Biking Technology Co., Ltd

Regulation

Regulated in the Reino Unido
Not regulated

Year founded

2014
Unknown

Founder

Pavel Matveev and Dmitry Lazarichev
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Wirex FEATURES Biking
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Minimum Trade
BiKing offers a reasonable minimum trade limit, accommodating both small and large traders.
Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
Trading and Transaction Fees
The exchange boasts low trading fees at 0.01% for both makers and takers, promoting active trading.
Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
Number of Cryptocurrencies
While BiKing supports major cryptocurrencies like Bitcoin and Ethereum, it has a more limited selection compared to larger exchanges.
There is a good selection of trading pairs available, providing users with various trading strategy options.
Crypto-to-Crypto Trading Pairs
Offers a modest range of crypto-to-crypto trading pairs, sufficient for mainstream traders but less so for those seeking variety.
The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
Website Transparency
BiKing provides clear information about trading fees and security measures but could improve on regulatory disclosures.
Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
Credit/Debit Card
Without a dedicated exchange card, users of BiKing Exchange may miss out on the convenience and rewards typically associated with such cards in the cryptocurrency space.
Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
Storage Offering
Utilizes secure cold storage solutions to ensure the safety of user funds against potential threats.
Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
Staking and Rewards
Offers staking options and rewards, although the range and returns are somewhat limited compared to competitors.
The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and robust, offering a seamless trading experience.
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
Customer Service
Provides 24/7 customer support with good response times and helpful assistance.
Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though limited by the lack of fiat currency support.

Key features

Analysis tools

Basic price tracking
Unknown

Mobile APP

No
No

Security

High 4,6/5
High 4/5

Additional features

Crypto debit card, staking, Wirex rewards, fiat on/off ramps
Social trading, copy trading, margin trading, futures contracts

Anonymity

No
Yes

Key points

Available cryptocurrencies

10+
50+

User-friendliness

Wirex features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Biking offers an intuitive platform with a user-friendly interface, ideal for beginners. The platform’s design ensures that users can easily navigate and execute trades without encountering unnecessary complexity.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.
Provides reasonable value for money with competitive fees and a user-friendly interface, suitable for both beginners and experienced traders.

Countries of operation

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

Best for

Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for both new and seasoned traders who want a user-friendly interface and competitive fees.

Base currencies available

USD, EUR, GBP, BTC
CNY, BTC, USDT

Account

Trading

Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some exchanges.
Biking is a smaller exchange that provides basic trading functionalities. It’s suitable for beginners but may not meet the needs of advanced traders due to its limited tools and lower liquidity.

Deposit and withdrawal

Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Biking offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

Wirex provides an easy and fast 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.
Biking’s account opening process is straightforward, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes
No

Customer Service

Wirex provides comprehensive 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.
Biking offers customer support through email and live chat. The response time is generally quick, but the support team is not available 24/7, which may be inconvenient for some users.

Security

Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors.
Biking offers robust security features, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I’d recommend BiKing Exchange for traders prioritizing security and low transaction fees. It’s particularly well-suited for those dealing primarily in major cryptocurrencies like Bitcoin and Ethereum. While the platform could improve by expanding its cryptocurrency selection and adding fiat currency support, its robust security measures and user-friendly mobile and desktop applications make it a solid choice for both new and experienced traders seeking a reliable trading environment.

View all comparisons against Wirex

View all comparisons against Biking

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 Wirex and Biking