Comparison of Wirex vs Coinsbank [ 2024 ]

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

coinsbank

Coinsbank

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

Investing risks losing your money

Main points

Fees

1%

Earns

No

Customer service

3/5
0,20%/0,50%

Fees

Yes

Earns

2/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

No

Trading

Yes

Passive income

No

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with additional benefits for cardholders.
3.7 – Competitive fees with additional benefits for cardholders.

Level

1%
0,20%/0,50%

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.
CoinsBank structures its commission model to accommodate both crypto-to-crypto and fiat-to-crypto transactions. The trading fees are notably higher than the industry average, typically around 0.50% for takers, which is double the more commonly seen rate of 0.25% among various exchanges. This elevated fee structure can impact high-volume traders significantly, making it a critical consideration for anyone looking to use CoinsBank for frequent trading activities.

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

Coinsbank

coinsbank
Read Wirex review
  • Year Founded: Established in 2016, CoinsBank has been active for several years, providing a stable and evolving service platform in the cryptocurrency exchange market.
  • Customer Service: Offers a comprehensive array of customer support options including email, telephone, and live chat, ensuring that users have access to assistance whenever needed.
  • Security Methods: Implements robust security measures including two-factor authentication (2FA), cold storage of funds to protect user assets, and SSL encryption for data security.
  • Reputation and Reviews: Despite some challenges, CoinsBank has managed to maintain a mix of positive reviews particularly for its user-friendly interface and multi-functional platform, highlighting its commitment to customer satisfaction.
  • Regulation: CoinsBank is licensed under the International Financial Services Commission (IFSC) of Belize and is registered with FinCEN MSB in Belize, indicating compliance with certain regulatory standards.
  • Pros
  • Supports multiple fiat currencies.
  • User-friendly interface and mobile app.
  • Offers wallet, card, and merchant services.
  • Cons
  • High transaction fees.
  • Limited cryptocurrency assets.

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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
CB Exchange LP

Regulation

Regulated in the Reino Unido
Not regulated

Year founded

2014
2016

Founder

Pavel Matveev and Dmitry Lazarichev
Unknown

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Wirex FEATURES Coinsbank
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Minimum Trade
The platform offers a low minimum trade amount, making it accessible for beginners or those looking to start with small investments.
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
CoinsBank charges higher than average fees, which could be a deterrent for high-volume traders.
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
Offers a moderate selection of cryptocurrencies including major ones like Bitcoin, Ethereum, Litecoin, and Ripple, but lacks a wider range as seen in larger exchanges.
There is a good selection of trading pairs available, providing users with various trading strategy options.
Crypto-to-Crypto Trading Pairs
A decent range of trading pairs is available, though not as extensive as some of the larger platforms.
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
The platform lacks some transparency regarding team details and operational insights, which could affect user trust.
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
Dont’ have crypto card
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
Excellent security measures with cold storage options that ensure the safety of digital assets.
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 some staking options, but the rewards and varieties are not as competitive as other top exchanges.
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 mobile and desktop platforms are user-friendly and reliable, suitable for trading on the go.
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
Customer Service
Provides various channels for support including live chat and email, although response times can vary.
Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including bank transfers and cards; however, the high fees on certain transactions can be a disadvantage.

Key features

Analysis tools

Basic price tracking
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
Low 2/5

Additional features

Crypto debit card, staking, Wirex rewards, fiat on/off ramps
Crypto debit card, OTC trading, staking, Coinsbank wallet

Anonymity

No
No

Key points

Available cryptocurrencies

10+
Few, primarily major cryptocurrencies

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.
Coinsbank 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

Delivers reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.
Delivers reasonable value for money with competitive fees and a wide range of supported cryptocurrencies, though it may lack some advanced features.

Countries of operation

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

Best for

Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for traders seeking a secure platform with a wide range of supported cryptocurrencies and competitive fees.

Base currencies available

USD, EUR, GBP, BTC
USD, EUR, GBP, RUB, BTC

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.
CoinsBank provides a secure trading platform with a good selection of cryptocurrencies. It offers additional services like a wallet and card but has higher fees compared to some competitors.

Deposit and withdrawal

Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
CoinsBank provides multiple deposit options, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.

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.
CoinsBank provides a straightforward account registration process. Users need to submit personal information and verify their identity. The process is efficient and usually takes less than a day to complete.

KYC required?

Yes
Yes

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.
CoinsBank provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback 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.
CoinsBank 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.

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’ve extensively evaluated CoinsBank and can confidently share my insights. For individuals new to cryptocurrencies or those seeking a multifunctional platform, CoinsBank stands out with its user-friendly interface and versatile offerings, including wallets, cards, and merchant services. However, it’s crucial to be aware of the higher transaction fees and the limited information about the team behind the scenes. These factors should be carefully considered when deciding if CoinsBank aligns with your trading and investment needs. Overall, if convenience and a variety of services are your priority, CoinsBank could be a suitable choice.

View all comparisons against Wirex

View all comparisons against Coinsbank

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 Coinsbank