Comparison of Bit vs Paribu [ 2024 ]

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

Your expert: Alejandro Borja

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

paribu

Paribu

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0.07%/0.04%

Earns

Yes

Customer service

3/5
0,25%/0,35%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.6 – Reasonable fees but higher for certain advanced trading options.
3.8 – Competitive fees with strong local support in Turkey.

Level

0.07%/0.04%
0,25%/0,35%

Brief explanation

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.
Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.

Bit

bit
Read bit review
  • Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
  • Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
  • Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
  • Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
  • Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

Read bit review

Paribu

paribu
Read bit review
  • Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.
  • Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.
  • Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.
  • Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.
  • Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.
  • Pros
  • User-friendly interface
  • 24/7 trading availability
  • Secure transactions
  • Cons
  • Limited global reach
  • No advanced trading tools

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Unknown

Regulation

Regulation not specified
Not regulated

Year founded

Unknown
2017

Founder

Unknown
Yasin Oral

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Bit FEATURES Paribu
Allows small minimum trades, accessible for those looking to start with modest amounts.
Minimum Trade
Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Trading and Transaction Fees
Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Number of Cryptocurrencies
Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Crypto-to-Crypto Trading Pairs
The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
The website provides clear and detailed information about fees, policies, and trading options.
Website Transparency
The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Credit/Debit Card
As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
High-level security storage solutions including cold storage options to protect user assets.
Storage Offering
Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Offers staking options but with limited rewards compared to leading competitors.
Staking and Rewards
Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and well-designed, offering good usability but lacking some advanced trading tools.
Customer service is available, but response times can vary, impacting user experience during peak times.
Customer Service
Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.
Deposit and Withdraw
Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Spot trading, margin trading, lending services, OTC trading
Staking, fiat on/off ramps, Paribu Earn, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

30+
50+

User-friendliness

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.
Paribu features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with all necessary features easily accessible.

Value for money

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.
Offers good value for money with competitive fees and strong local support in Turkey, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Turkey

Best for

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.
Suitable for Turkish investors looking for a reliable platform with competitive fees and strong local support.

Base currencies available

JPY, USD, EUR, BTC
TRY, BTC

Account

Trading

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.
Paribu is a popular exchange in Turkey, offering a good selection of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading tools.

Deposit and withdrawal

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.
Paribu is popular in Turkey, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.
Paribu provides a seamless 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.

KYC required?

No
No

Customer Service

BIT 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.
Paribu provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Turkey.

Security

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.
Paribu ensures security through 2FA, encryption, and cold storage. It is regulated by Turkish authorities, providing a secure environment for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting starting point.

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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.

More comparatives Bit and Paribu