Comparison of Blockchain.Com vs Bitmex [ 2024 ]

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

Your expert: Alejandro Borja

Blockchain.Com

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitmex

Investing risks losing your money

Main points

Fees

0,40%/0,45%

Earns

Yes

Customer service

3/5

≤0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees with a focus on security and ease of use.

4.2 – Competitive fees with a focus on leveraged trading.

Level

0,40%/0,45%

≤0,10%

Brief explanation

Blockchain.com maintains a competitive fee structure for its trading services. The platform charges a dynamic fee for transactions, which typically aligns with industry standards to ensure affordability while maintaining high-quality service. For cryptocurrency trading, the fees vary depending on the market conditions and the type of transaction, such as buying, selling, or exchanging cryptocurrencies. It’s important for users to review the specific fees associated directly on the Blockchain.com platform before executing any trades to understand the potential costs involved fully. This fee structure is designed to be transparent, allowing users to make informed decisions without hidden charges.

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

Blockchain.Com

Year Founded: Blockchain.com has been a trusted name in the cryptocurrency market since 2011. Its longstanding presence serves as a testament to its reliability and enduring commitment to serving the crypto community.
Security Methods: The exchange employs advanced security measures including the use of cold storage for the majority of assets, two-factor authentication, and cutting-edge encryption technology. These protocols ensure a high level of security, safeguarding user funds against potential threats.
Reputation and Reviews: Over the years, Blockchain.com has built a solid reputation within the cryptocurrency community. Positive user reviews frequently highlight the platform's reliability, security, and ease of use, which reinforces its status as a trusted exchange.
Trading Volume and Liquidity: Blockchain.com supports a significant trading volume and liquidity, making it a preferred platform for traders looking for a seamless trading experience without the risk of market manipulation. High liquidity ensures that trades can be executed quickly and at desired prices.
Transparency: Blockchain.com is known for its transparent operations, providing users with detailed information on transactions, fees, and the security measures in place. This level of openness is crucial in building trust and credibility among users.

Read blockchain.com review

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Blockchain Access UK Ltd.

HDR Global Trading Limited

Regulation

Not regulated

Not regulated, enfrentó acciones legales en los EE. UU.

Year founded

2011

2014

Founder

Ben Reeves (parte del equipo original de Coinbase también)

Arthur Hayes, Ben Delo, Samuel Reed

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Blockchain.Com	FEATURES	Bitmex
Blockchain.com allows users to start trading with a relatively low minimum, accommodating smaller budgets.	Minimum Trade	BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Fees are somewhat higher than competitors, which could be a deterrent for high-frequency traders.	Trading and Transaction Fees	BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.
Supports a wide range of popular cryptocurrencies, providing good options for diversification.	Number of Cryptocurrencies	While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.
Offers a solid variety of trading pairs, allowing users to trade popular crypto combinations easily.	Crypto-to-Crypto Trading Pairs	BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
The platform is highly transparent about its operations, fees, and security measures.	Website Transparency	The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
While Blockchain.com provides a robust platform for trading and wallet services, the lack of a branded exchange card limits the flexibility for users to spend and earn rewards directly from their cryptocurrency holdings in everyday transactions.	Credit/Debit Card	BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.
Provides secure storage options including cold storage, ensuring high safety for user assets.	Storage Offering	BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Limited options for staking and rewards, which could be improved to enhance user investment benefits.	Staking and Rewards	Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Both mobile and desktop platforms are user-friendly and well-designed, offering seamless trading experiences.	Mobile App and Desktop	Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.
Customer support is available but response times and effectiveness can vary, indicating room for improvement.	Customer Service	Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Efficient deposit and withdrawal processes, though some users may find the options somewhat limited.	Deposit and Withdraw	BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.

Key features

Analysis tools

Price tracking, but limited technical analysis tools

High-level technical analysis tools, derivatives trading features

Mobile APP

Security

High 4,9/5

Additional features

Blockchain wallet, lending services, staking, institutional services

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Anonymity

Yes

Key points

Available cryptocurrencies

40+

Primarily derivatives, few direct cryptocurrencies

User-friendliness

Offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides essential features without overwhelming new users.

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Value for money

Offers reasonable value for money with competitive fees and a strong focus on security, though it may lack some advanced trading features.

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Countries of operation

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

Best for

Best for traders who prioritize security and want a straightforward platform with competitive fees.

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Base currencies available

USD, GBP, EUR, BTC

BTC, USDT (for derivative products)

Account

Trading

Blockchain.com provides a secure trading platform with a good selection of cryptocurrencies. It is easy to use but has higher fees compared to some competitors.

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Deposit and withdrawal

Blockchain.com offers multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with low fees.

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Account opening process

Blockchain.com offers a straightforward and user-friendly account registration process. Users need to provide personal information, verify their identity, and the account is usually approved within a day.

BitMEX has a straightforward account registration process, 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

Customer Service

Blockchain.com offers customer support through email and live chat. The support team is responsive, but the absence of phone support and limited availability can be a disadvantage.

BitMEX 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

Blockchain.com offers strong security features like 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Blockchain.com for those who prioritize security and a user-friendly trading environment. It’s particularly suitable for new entrants to the cryptocurrency market, thanks to its intuitive interface and robust security measures. However, potential users should be aware of its higher transaction fees and mixed customer service reviews, which are areas the platform could improve to enhance the overall user experience.

Xavier Tarrasó

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

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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.