Comparison of Phemex vs Bitrue [ 2024 ]

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

Your expert: Alejandro Borja

Phemex

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitrue

Investing risks losing your money

Main points

Fees

0,10%

Earns

Customer service

3/5

0,01%/0,35%

Fees

Yes

Earns

4/5

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

4.1 – Low fees with a focus on derivatives trading.

4.0 – Low fees, particularly for XRP trading pairs.

Level

0,10%

0,01%/0,35%

Brief explanation

Phemex implements a transparent and competitive commission structure, which is one of its standout features. The platform offers zero-fee spot trading for premium members, a unique model that encourages active trading and enhances affordability. For non-premium users, the fees remain competitive with the industry average. The fees for futures trading are also attractively low, with maker and taker fees structured to incentivize liquidity provision on the platform. This setup allows traders to manage their costs effectively, which is especially beneficial in a market where margins can be tight.

Bitrue’s commission structure is designed to be competitive and accessible for traders of all levels. The exchange utilizes a tiered fee system, where the fees decrease as a user’s trading volume increases, incentivizing active trading. Typically, trading fees range from 0.098% to 0.028% for takers and from 0.075% to 0.020% for makers, which are below industry averages. This structure makes Bitrue an attractive option for both high-volume traders seeking to minimize costs and newcomers looking to enter the crypto trading space affordably.

Phemex

Robust Security Measures: Phemex employs comprehensive security protocols, including cold wallet storage, two-factor authentication, and advanced encryption technology to protect user assets and data.
High Trading Volume and Liquidity: With significant daily trading volumes, Phemex offers high liquidity, facilitating quick and efficient execution of trades without significant price slippage.
Transparent Withdrawal and Deposit Policies: Phemex provides clear and concise policies regarding withdrawals and deposits, ensuring users understand the terms of service and any associated fees clearly.
Strong Reputation and Positive Reviews: Since its launch, Phemex has built a strong reputation in the cryptocurrency community, supported by positive user reviews that praise its reliability, customer service, and platform stability.
Effective Customer Service: Phemex offers responsive and helpful customer support, ensuring that users' queries and issues are addressed promptly, which is crucial for maintaining trust and user satisfaction.

Read phemex review

Bitrue

Security Methods: Bitrue implements robust security measures to protect user assets. These include two-factor authentication (2FA), cold storage of the majority of funds to minimize exposure to potential hacks, and encryption technology to secure users' data. These stringent security protocols are a cornerstone of Bitrue’s reliability.
Year Founded: Established in 2018, Bitrue has quickly risen to prominence in the cryptocurrency space. Despite being relatively new, it has built a reputation for reliability and innovation, indicating a solid foundation and a commitment to long-term growth and stability.
Trading Volume and Liquidity: Bitrue boasts a high trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that traders can execute transactions quickly and at predictable prices, making Bitrue an attractive platform for both casual and serious traders.
Customer Service: Bitrue is known for its responsive and helpful customer service. Having a reliable customer support team is essential in the crypto space where users often need quick and effective solutions to their issues. Bitrue's commitment to excellent customer service fosters trust and user satisfaction.
Reputation and Reviews: The exchange has garnered positive reviews and a good reputation within the cryptocurrency community. User feedback often highlights the platform's user-friendly interface, range of supported cryptocurrencies, and the reliability of its services. Positive community feedback and testimonials further reinforce the trustworthiness of Bitrue.

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Product selection

Native token

Token BTR (Bitrue Coin)

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Phemex Financial Pte. Ltd.

Bitrue

Regulation

Not regulated

Year founded

2019

2018

Founder

Jack Tao

Curis Wang

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Phemex	FEATURES	Bitrue
Phemex allows trading with relatively low minimums, making it accessible for beginners who wish to start small.	Minimum Trade	Bitrue allows users to engage in trading with relatively low minimum trade requirements, making it accessible for beginners.
Offers competitive fees with several fee-free options for premium members, though slightly higher for regular users.	Trading and Transaction Fees	Bitrue offers competitive trading fees that are lower than many other exchanges, though they can vary based on market conditions and trading volume.
Supports a wide range of cryptocurrencies, providing ample trading opportunities for users.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, providing users with many trading options across popular and niche markets.
Extensive selection of trading pairs, allowing users to diversify their trading strategies.	Crypto-to-Crypto Trading Pairs	Bitrue excels in offering a diverse array of crypto-to-crypto trading pairs, facilitating robust trading strategies.
The website provides essential information, although some users may find details on fees and terms could be clearer.	Website Transparency	While Bitrue provides essential information, some users might find it difficult to locate detailed data about certain policies or operational aspects.
Phemex does not provide an exchange card for in-store purchases. It focuses on trading features and derivatives.	Credit/Debit Card	Bitrue lacks an exchange card feature, which is a notable omission compared to some competitors who provide this convenient service for everyday transactions.
Offers secure cold storage options, enhancing safety for user funds against potential cyber threats.	Storage Offering	Provides secure storage options with the integration of cold storage solutions, enhancing the safety of user funds.
Provides staking options with competitive rewards, though options are more limited compared to specialized staking platforms.	Staking and Rewards	One of Bitrue’s strengths, offering competitive staking options and rewards that are attractive to users looking to earn passive income.
Both the mobile app and desktop platform are highly user-friendly and robust, suitable for trading on the go.	Mobile App and Desktop	Both the mobile app and desktop platform are well-designed, offering full functionality with occasional user interface complexities.
Generally responsive customer service with multiple channels available, but some reports of delayed responses during peak times.	Customer Service	Offers 24/7 customer support, though response times and the quality of support can vary, reflecting room for improvement.
Offers multiple deposit and withdrawal methods, but some users have experienced delays and higher fees for certain methods.	Deposit and Withdraw	Bitrue provides a variety of deposit and withdrawal methods, although some users have reported delays with fiat transactions.

Key features

Analysis tools

Advanced charting tools, technical analysis

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Margin trading, futures trading, staking, Phemex Earn

Power Piggy staking, futures trading, Bitrue token (BTR) rewards, lending services

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

100+

User-friendliness

Phemex provides 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.

Bitrue offers a user-friendly platform that is easy to navigate, catering to both beginners and experienced traders. The interface is designed to facilitate smooth and efficient trading.

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.

Provides good value for money with low trading fees and a focus on XRP trading pairs, making it an attractive option for XRP enthusiasts.

Countries of operation

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

Singapore, United States, Canada, Australia, United Kingdom

Best for

Suitable for both retail and institutional traders interested in derivatives trading with competitive fees and advanced features.

Best for XRP enthusiasts and other traders looking for a platform with low trading fees and a focus on XRP trading pairs.

Base currencies available

USD, BTC, USDT

USD, USDT, BTC

Account

Trading

Phemex offers extensive trading options including spot, margin, and futures trading. It provides advanced tools suitable for experienced traders but might be overwhelming for beginners.

Bitrue offers a wide selection of cryptocurrencies and is known for its staking and loan services. It provides good liquidity but has faced some security issues in the past.

Deposit and withdrawal

Phemex supports multiple deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Bitrue supports multiple deposit and withdrawal methods including bank transfers and crypto. Withdrawals are processed quickly, usually within 24 hours, with low fees.

Account opening process

Phemex offers a seamless and fully digital account opening process. Users need to submit personal information and verify their identity. The process is quick and usually completed within a day.

Bitrue provides a straightforward account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, ensuring quick access to trading.

KYC required?

Yes

Customer Service

Phemex offers 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.

Bitrue offers customer support via email and live chat. The support team is responsive, and support is available 24/7, ensuring users get timely help when needed.

Security

Phemex provides extensive security measures, including 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Bitrue employs strong security features like 2FA, cold storage, and encryption. 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

As one of the experts reviewing cryptocurrency exchanges on our website, I find Phemex to be a highly compelling choice for traders. The platform impresses with its robust security features and a wide array of trading options, catering to both newcomers and seasoned traders. Personally, I appreciate the platform’s user-friendly interface and the fact that it offers high liquidity, which is crucial for executing trades swiftly and efficiently. I would recommend Phemex to anyone looking to dive into the world of cryptocurrency trading, especially those who value security and a diverse range of trading instruments.

Xavier Tarrasó

As an expert on our website, I recommend Bitrue for those interested in a diverse selection of cryptocurrencies and robust security features. In my experience, Bitrue’s platform is user-friendly and ideal for both beginners and experienced traders. The exchange’s commitment to maintaining competitive fees and offering a reliable customer support service makes it a solid choice for anyone looking to engage with the crypto market effectively.

View all comparisons against Phemex

View all comparisons against Bitrue

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.