Comparison of Bingx vs Bitvavo [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Investing risks losing your money

Your expert: Xavier Tarrasó

Bitvavo

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,15%/0,25%

Fees

Yes

Earns

4/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for social trading features.

4.1 – Low fees with additional discounts for high-volume traders.

Level

0,10%

0,15%/0,25%

Brief explanation

BingX offers a competitive and transparent fee structure that is designed to accommodate both occasional and frequent traders. The platform charges a trading fee for each transaction, which is broken down into maker and taker fees. These fees are competitively set to encourage trading activities while ensuring the platform can maintain high-quality services. The trading fees on BingX are tiered based on the user’s trading volume, which means that the more you trade, the lower your fees can be. This system is particularly advantageous for active traders who can benefit from significantly reduced costs as their trading activity increases. Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain. Overall, BingX’s commission structure is built to support both new entrants to the crypto market and seasoned traders, ensuring transparency and fairness in every transaction.

Bitvavo’s commission structure is designed to be highly competitive, particularly appealing to both new entrants and experienced traders in the cryptocurrency market. The platform operates on a tiered fee system where the trading fees decrease as the user’s 30-day trading volume increases. Starting from 0.25% for takers and 0.15% for makers, these fees can go as low as 0.03% for takers and 0.00% for makers, depending on the trading volume. This encourages active trading and is beneficial for high-volume traders seeking to minimize costs while maximizing their trading strategies.

Bingx

Security Methods: BingX implements stringent security protocols, including two-factor authentication, cold storage of assets, and encryption technologies. These measures ensure a high level of protection for user funds and personal information, making it a trustworthy platform for trading cryptocurrencies.
Reputation and Reviews: BingX has built a solid reputation within the crypto community, backed by positive user reviews and ratings. The platform's commitment to user satisfaction and continuous improvement has garnered trust and loyalty among its users.
Transparency: BingX operates with a high degree of transparency, providing clear information about its operations, fee structure, and trading processes. This openness is crucial in building trust with users and differentiates BingX from other exchanges that might not be as forthcoming.
Trading Volume and Liquidity: The exchange boasts significant trading volume and liquidity, ensuring that trades can be executed quickly and at stable prices. High liquidity not only enhances the user experience but also establishes BingX as a reliable exchange for handling large volumes of trades efficiently.
Customer Service: Despite some delays, BingX's dedication to providing helpful and responsive customer service contributes to its trustworthiness. The platform's efforts to improve response times and expand its support capabilities demonstrate a commitment to user support, crucial for trust and reliability in the fast-paced crypto market.

Read bingx review

Bitvavo

Year Founded: Established in 2018, Bitvavo has swiftly risen to prominence within the European market, demonstrating robust growth and stability in a relatively short period. This rapid development signifies strong management and a solid business model, instilling confidence in its longevity and reliability.
Security Methods: Bitvavo places a high priority on security with comprehensive measures to protect user assets. These include cold storage for a majority of funds, two-factor authentication, and advanced encryption technology, ensuring that users' data and funds are safeguarded against unauthorized access and cyber threats.
Possible Regulation: Operating from Amsterdam, Bitvavo adheres to European financial regulations, which are known for their strict standards. Compliance with these regulations not only confirms the legitimacy of the exchange but also ensures it operates under stringent oversight, enhancing user trust.
Reputation and Reviews: Bitvavo has cultivated a positive reputation among its users and in the broader crypto community, reflected in numerous favorable reviews. Users frequently cite the platform's user-friendly interface, low fees, and excellent customer service as major advantages, which speaks to its reliability and the quality of services offered.
Customer Service: Commitment to providing excellent customer support is a cornerstone of Bitvavo's operational philosophy. The exchange offers responsive support through multiple channels, ensuring that users' queries and issues are addressed promptly and effectively, which is crucial for building and maintaining trust, especially in the dynamic environment of cryptocurrency trading.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

Bitvavo B.V.

Regulation

Not regulated

Regulated in the Países Bajos

Year founded

2018

2017

Founder

Elvisco Carrington

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bingx	FEATURES	Bitvavo
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	Bitvavo allows users to start trading with small amounts, making it accessible for beginners.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	Bitvavo offers some of the lowest fees in Europe, which are transparent and competitive.
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	Supports a wide variety of over 50 cryptocurrencies, catering to diverse trading preferences.
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Offers a robust selection of trading pairs, allowing for versatile crypto-to-crypto transactions.
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	The website provides clear information about fees, policies, and trading options.
While BingX provides a robust trading platform with various features, the lack of an exchange card limits additional spending flexibility and rewards for its users	Credit/Debit Card	While Bitvavo excels in providing a secure and user-friendly trading platform, the lack of an exchange card limits the flexibility for users to spend and gain direct benefits from their cryptocurrency holdings in everyday transactions.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Provides secure storage solutions with cold storage options for the majority of assets.
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	Offers staking services with rewards but has room for expansion in terms of options and higher returns.
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	Both the mobile app and desktop platforms are highly user-friendly and well-designed.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Exceptional customer service with multiple channels for support and quick response times.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Efficient deposit and withdrawal processes, although improvements can be made in variety.

Key features

Analysis tools

Trading signals, technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Staking, Bitvavo Earn program, API access, fiat on/off ramps

Anonymity

Yes

Key points

Available cryptocurrencies

50+

150+

User-friendliness

BingX features an easy-to-navigate platform with a focus on social trading. The user interface is designed to be beginner-friendly, allowing users to follow and copy trades from experienced traders effortlessly.

Bitvavo features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a smooth and seamless trading experience.

Value for money

Delivers good value for money with competitive fees and innovative social trading features, making it a cost-effective choice for traders.

Delivers good value for money with low trading fees and a user-friendly interface, making it an affordable choice for European traders.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

Netherlands, Germany, France, Spain, Italy

Best for

Suitable for both beginners and experienced traders interested in social trading and following the strategies of other successful traders.

Great for European traders looking for a user-friendly platform with low trading fees and a diverse selection of cryptocurrencies.

Base currencies available

USD, BTC, USDT

EUR, BTC

Account

Trading

BingX focuses on social trading, allowing users to follow and copy trades from experienced traders. It offers a unique feature but has a smaller selection of cryptocurrencies compared to leading exchanges.

Bitvavo is a European exchange known for its low fees and wide range of cryptocurrencies. It offers a user-friendly interface but lacks some advanced trading features.

Deposit and withdrawal

BingX provides various deposit methods, including bank transfers and crypto. Withdrawals are fast and generally processed within 24 hours. Fees are low, making it user-friendly.

Bitvavo supports various deposit methods, including bank transfers and crypto. Withdrawals are processed within a day, with minimal fees, making it user-friendly.

Account opening process

BingX offers a simple and fast account opening process. Users need to fill in basic information and verify their identity. The process is fully digital and typically takes less than a day to complete.

Bitvavo provides an easy and quick account opening process. Users need to fill out personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

BingX provides customer support via email and live chat. The support team is responsive and helpful, although 24/7 availability is not guaranteed, which can be a limitation.

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

Security

BingX uses standard security measures like 2FA and cold storage. However, it is not regulated by top-tier financial authorities, which might be a concern for some investors.

Bitvavo employs comprehensive security measures, including 2FA and cold storage. It is regulated by Dutch authorities, ensuring high security for investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I highly recommend BingX for both new and experienced traders seeking a balanced platform. Its strong security measures and transparent trading environment provide a trustworthy space for cryptocurrency transactions. However, while the platform offers robust features, including diverse trading pairs and competitive staking rewards, potential users should note the occasional delays in customer service response times. Overall, BingX stands out as a solid choice for navigating the complexities of the crypto market.

Xavier Tarrasó

As an expert on our website, I highly recommend Bitvavo for those looking to engage in cryptocurrency trading, especially within Europe. The exchange combines low fees, a user-friendly interface, and robust security measures, making it an excellent choice for both beginners and seasoned traders. With its wide range of cryptocurrencies and effective customer support, Bitvavo stands out as a reliable platform to efficiently manage your digital assets.

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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.