Comparison of Bingx vs Cryptology [ 2024 ]

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

Your expert: Alejandro Borja

Bingx

Investing risks losing your money

Your expert: Xavier Tarrasó

Cryptology

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

≤0,20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

4.0 – Reasonable fees with additional benefits for token holders.

Level

0,10%

≤0,20%

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 Additionally, BingX charges withdrawal fees that vary depending on the type of cryptocurrency being withdrawn, aligning with the network fees of each blockchain.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.

Cryptology employs a transparent and competitive fee structure designed to cater to traders of all levels. The platform uses a progressive fee system where trading fees decrease with higher trading volumes over a 30-day period. For trading volumes under €50,000, both market makers and takers are charged a flat 0.20% fee. As trading volumes increase, fees can drop to as low as 0.016% for makers and 0.018% for takers for volumes exceeding €10,000,000. Deposit fees are generally non-existent, except for certain fiat deposits via debit or credit cards, which incur fees ranging from 1.7% to 2.65%. Withdrawal fees are asset-dependent, with Bitcoin withdrawals, for example, subject to a 0.0005 BTC fee .

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

Cryptology

Security Methods: Cryptology employs industry-standard encryption protocols, cold storage solutions, and two-factor authentication (2FA) to ensure the safety of user funds and data .
Year Founded: Established in 2017, Cryptology has a proven track record in the cryptocurrency market, demonstrating stability and growth over the years .
Regulation: The exchange is registered in Estonia and regulated by the Estonian Financial Intelligence Unit (FIU), ensuring compliance with international financial regulations .
Customer Service: Cryptology offers 24/7 customer support through various channels, including email and live chat, enhancing user satisfaction and resolving issues promptly .
Reputation and Reviews: Cryptology has generally positive reviews from users, highlighting its reliability, user-friendly interface, and efficient trading environment .

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

BingX Trading

Cryptology Asset Group Pte Ltd

Regulation

Not regulated

Year founded

2018

Founder

Elvisco Carrington

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bingx	FEATURES	Cryptology
The minimum trade size is accessible for beginners, allowing small investments to start trading.	Minimum Trade	Cryptology allows users to start trading with a minimal amount, making it accessible for beginners.
Competitive fees compared to industry standards, making it economical for frequent trading.	Trading and Transaction Fees	Fees are competitive but not the lowest in the market. The fee structure benefits high-volume traders but could be more advantageous for smaller trades .
Offers a moderate range of cryptocurrencies, sufficient for most traders but not the most extensive.	Number of Cryptocurrencies	The exchange offers a wide selection of cryptocurrencies, providing ample choices for diverse trading strategies .
A wide array of trading pairs provides good options for crypto-to-crypto trading.	Crypto-to-Crypto Trading Pairs	Cryptology has numerous crypto-to-crypto pairs available, facilitating versatile trading opportunities and allowing traders to diversify their portfolios .
Highly transparent about trading processes and fees, providing clear and easy-to-find information.	Website Transparency	The website is highly transparent, providing detailed information about fees, security measures, and company policies. This transparency helps build trust with users .
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	Cryptology does not provide an exchange card for in-store purchases.
Offers robust storage solutions including cold storage options to secure user funds.	Storage Offering	Cryptology provides secure storage options, though it could improve by offering more detailed information on security protocols and insurance coverage for stored assets .
Provides staking options with competitive rewards, enhancing passive earning potential.	Staking and Rewards	The exchange offers staking options, but the rewards programs are not as extensive as those of some competitors. Enhancing the rewards system could attract more users looking for passive income opportunities .
Excellent user interface on both mobile and desktop platforms, ensuring a seamless trading experience.	Mobile App and Desktop	The platform is available on both mobile and desktop with robust features, though some users report minor usability issues on the mobile app. Continuous updates and improvements can enhance the user experience further.
Good customer support with room for improvement in response times and accessibility.	Customer Service	Customer service is responsive but could benefit from 24/7 support availability. Providing more channels for support and ensuring round-the-clock service would greatly improve user satisfaction.
Efficient deposit and withdrawal processes with clear guidelines, but could be faster.	Deposit and Withdraw	Cryptology offers various methods for deposits and withdrawals with reasonable processing times and fees. This flexibility makes it easier for users to manage their funds efficiently.

Key features

Analysis tools

Trading signals, technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

Copy trading, margin trading, derivatives trading, BingX Academy

Margin trading, futures trading, staking, Cryptology Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

50+

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.

Cryptology offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to provide a seamless trading experience with all necessary features easily accessible.

Value for money

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

Provides decent value for money with competitive fees and a user-friendly interface, though it may not have the lowest fees compared to some competitors.

Countries of operation

Singapore, United States, Canada, Australia, United Kingdom

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

Best for

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

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, BTC, USDT

EUR, USD, RUB, 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.

Cryptology offers a good selection of cryptocurrencies and competitive fees. It has a user-friendly platform but lacks some advanced trading tools.

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.

Cryptology supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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.

Cryptology provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

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.

Cryptology provides support through 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

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.

Cryptology employs standard 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

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 in cryptocurrency exchanges, I find Cryptology to be a secure and reliable platform, especially suitable for traders who prioritize security and transparent fee structures. The exchange offers competitive trading fees that decrease with higher trading volumes, which benefits active traders. Additionally, Cryptology’s commitment to security through industry-standard encryption, cold storage solutions, and two-factor authentication (2FA) provides peace of mind for users concerned about the safety of their funds. While the platform excels in these areas, it does have some limitations. The selection of altcoins is relatively limited compared to other exchanges, which might not appeal to traders looking for a broader range of digital assets. Furthermore, there have been reports of customer support issues, indicating a need for improvement in responsiveness and service quality. Overall, Cryptology is a strong choice for traders focusing on major cryptocurrencies and seeking a secure trading environment. Enhancing altcoin variety and improving customer support would further solidify its standing in the competitive cryptocurrency exchange market.

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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.