Comparison of Bitfinex vs 50X [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitfinex vs 50X comparison!

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

50X

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

0.20%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.

3.8 – Competitive fees but slightly higher than industry leaders.

Level

0,10% /0,20%

0.20%

Brief explanation

Bitfinex’s fee structure is designed to cater to both high-volume and occasional traders. The exchange employs a maker-taker fee model, where makers, who add liquidity to the market by placing limit orders, typically pay lower fees than takers, who remove liquidity by matching orders already on the book. Fees for takers start at 0.20%, and for makers, they begin at 0.10%. These fees decrease significantly with increased trading volume, making Bitfinex an attractive option for active traders. Additionally, there are no fees for depositing cryptocurrencies, though withdrawal fees do apply and vary depending on the currency. Overall, Bitfinex’s fees are competitive within the industry, providing a fair balance between cost and the comprehensive features offered.

50x employs a relatively straightforward commission structure designed to accommodate both casual and serious traders. The exchange charges a standard trading fee that is competitive with industry norms, yet it varies slightly depending on the trading pair and the volume. Importantly, 50x utilizes a tiered fee system; thus, higher trading volumes benefit from lower fees. This approach encourages active trading and can be particularly advantageous for traders planning to execute large volumes of transactions.

Bitfinex

Year Founded: Bitfinex has been operational since 2012, establishing itself as one of the oldest and most stable players in the volatile cryptocurrency market. Its longevity speaks to its ability to adapt and improve in a rapidly evolving industry
Security Methods: Post-2016 hack, Bitfinex significantly ramped up its security measures, implementing state-of-the-art security protocols including cold storage of funds, two-factor authentication, and advanced encryption technology to protect user data and assets.
Trading Volume and Liquidity: Bitfinex consistently ranks among the top exchanges in terms of trading volume. High liquidity not only makes it easier for users to execute trades at desired prices but also reflects the trust and scale of operation that Bitfinex maintains.
Reputation and Reviews: Despite past challenges, Bitfinex has maintained a strong reputation within the crypto community. It is frequently praised for its advanced trading features and deep liquidity, with many users advocating for its platform in various reviews and crypto forums.
Transparency: Bitfinex has taken steps to enhance its transparency, particularly in how it manages user funds and its operational status. The exchange regularly updates users about new features, security enhancements, and operational changes, helping build trust through openness.

Read bitfinex review

50X

Year Founded: The recent inception of 50x positions it as a modern platform designed with the latest technologies and a fresh approach to cryptocurrency trading.
Security Methods: 50x implements advanced security protocols, including multi-factor authentication and encryption, to protect user data and funds.
Trading Volume and Liquidity: Despite being a newer player, 50x is gradually increasing its trading volume and liquidity, which is essential for executing trades efficiently and minimizing slippage.
Reputation and Reviews: Early reviews highlight 50x's innovative trading features and technology, particularly praising the flexibility offered by its Any2Any trading system.
Customer Service: 50x has committed to a strong customer support framework, providing users with multiple channels for assistance and fast response times, which is crucial for building trust with users.

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Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

AXX Exchange

Regulation

Not regulated

Year founded

2012

2018

Founder

Jean

Alexander Udovichenko

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitfinex	FEATURES	50X
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	Allows small minimum trades, suitable for beginners testing strategies.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	Competitive fees, but could be better explained on the website.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	Offers a wide variety, though not the largest selection available.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	Extensive pairs due to Any2Any technology, facilitating unique pairings.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	Needs more clarity on fees and liquidity sources.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	Lacks an exchange card, missing out on potential benefits and convenience for users.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Provides secure storage solutions, though details are scarce.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Offers staking options, but fewer rewards compared to competitors.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	Both platforms are robust but require a learning curve.
Customer service is available but response times can be slow during peak times.	Customer Service	Generally responsive with multiple support channels, though not 24/7.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	Supports multiple methods but feedback suggests delays during high traffic.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

Advanced charting tools, technical indicators

Mobile APP

Security

High 4,9/5

High 4/5

Additional features

Margin trading, lending services, staking, Bitfinex Pulse (social network)

Margin trading, futures contracts, staking rewards, advanced charting tools

Anonymity

Key points

Available cryptocurrencies

150+

100+

User-friendliness

Bitfinex provides a powerful platform with a user-friendly interface that caters to both beginners and advanced traders. While it offers advanced trading features, the platform is designed to be accessible and easy to use.

50x offers a user-friendly interface that is intuitive for both beginners and experienced traders. The platform’s design emphasizes simplicity without compromising on advanced features, making it easy to navigate and execute trades efficiently.

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 competitive trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for traders.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.

Ideal for experienced traders looking for competitive fees and a wide range of supported cryptocurrencies, as well as those interested in margin trading.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT

USD, BTC

Account

Trading

Bitfinex is tailored for professional traders with its advanced trading features and high liquidity. It offers a wide range of cryptocurrencies but has had security breaches in the past, making some users cautious.

50x offers a robust trading platform with a wide range of cryptocurrency pairs. The interface is user-friendly, making it suitable for both beginners and experienced traders. Security features are strong, but liquidity might be lower compared to larger exchanges.

Deposit and withdrawal

Bitfinex supports a wide range of deposit options, including bank transfers and crypto. Withdrawals are processed quickly, usually within a few hours. Fees are competitive, though high-volume users may benefit more.

50x offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Processing times are generally quick, but bank transfers can take several days. Fees are minimal.

Account opening process

Bitfinex provides a straightforward and fully digital account registration process. Users need to submit personal details, verify their identity, and address. The process is quick, usually taking less than a day to complete.

Opening an account with 50x is straightforward and fully digital. The process involves filling out basic personal information, verifying your identity, and typically takes less than a day to complete. No significant barriers to entry are noted.

KYC required?

Yes

Customer Service

Bitfinex provides extensive support through email, live chat, and a help center. The response time is quick, and support is available 24/7, ensuring users get timely assistance.

50x provides customer support through email and live chat. Responses are generally quick and helpful, but phone support is not available, which may limit immediate assistance for urgent issues.

Security

Bitfinex provides extensive security features, including 2FA, cold storage, and encryption. It is regulated by several financial authorities, making it a secure platform for investors .

50x prioritizes security with two-factor authentication (2FA) and encryption. The platform has a good track record but lacks regulation by top-tier authorities, which may be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Bitfinex for traders seeking a diverse and dynamic trading environment. The platform’s extensive range of cryptocurrencies and crypto-to-crypto trading pairs is impressive, making it a great choice for those looking to explore different trading strategies. While the trading fees and customer service response times could see improvement, Bitfinex’s advanced trading features and robust security measures make it a reliable option for serious traders.

Xavier Tarrasó

As an expert reviewing 50x, I find its innovative Any2Any trading technology particularly compelling for those interested in exploring a wide range of crypto pairings. This feature alone sets it apart in a crowded market. However, newcomers should be prepared for a learning curve due to the platform’s complex interface. I recommend 50x for traders who have some experience and are looking for new trading opportunities in a secure and technically advanced environment.

View all comparisons against Bitfinex

View all comparisons against 50X

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.