Comparison of Bitfinex vs Altcoin Trader [ 2024 ]

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

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Altcoin Trader

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

0,10%

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

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

3.5 – Competitive fees within South Africa but higher for international transactions.

Level

0,10% /0,20%

0,10%

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.

AscendEX maintains a competitive and transparent fee structure, which is essential for both casual and serious traders. The platform typically charges a flat fee for both makers and takers, simplifying calculations for users. These fees are generally aligned with industry standards, ensuring that traders can engage in frequent trading activities without excessive costs. Additionally, AscendEX may offer tiered discounts based on the user’s monthly trading volume, which incentivizes higher trading activity with lower fees. For users looking to minimize costs while maximizing trading opportunities, AscendEX’s fee structure is designed to support a wide range of trading strategies and volumes, making it a compelling choice for those who value straightforward and equitable financial dealings in their trading platform.

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

Altcoin Trader

Security Methods: AscendEX employs a comprehensive array of security measures including SSL encryption, two-factor authentication, and cold storage of assets. These rigorous security protocols ensure that users’ data and funds are protected against unauthorized access and cyber threats, fostering a secure trading environment.
Reputation and Reviews: Since its inception in 2018, AscendEX has built a solid reputation within the cryptocurrency community. User reviews often highlight the platform's reliability, wide range of services, and user-friendly interface, underscoring its standing as a reputable exchange in the crypto market.
Trading Volume and Liquidity: AscendEX supports a high trading volume and liquidity, which is crucial for traders looking to execute large trades without significantly affecting the market price. This high liquidity not only facilitates better price discovery but also enables efficient entry and exit from positions.
Customer Service: AscendEX is known for its robust customer support, offering quick and helpful responses to user inquiries and issues. This commitment to excellent customer service enhances user experience and trust, particularly for new traders who may need assistance navigating the platform.
Withdrawal and Deposit Policies: The platform’s policies on withdrawals and deposits are clear, secure, and user-centric, ensuring a smooth process for moving funds into and out of the exchange. AscendEX’s efficient handling of these critical operations reinforces its reliability and the trust users place in it.

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Product selection

Native token

Token LEO

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

Altcoin Trader (Pty) Ltd.

Regulation

Not regulated

Year founded

2012

2014

Founder

Jean

Richard de Sousa

Payment methods

Transfers

Yes

Mastercard

Wire transfer

Yes

Card

Comparative table

Bitfinex	FEATURES	Altcoin Trader
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	AscendEX allows small minimum trades, making it accessible for users with smaller capital.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	Competitive fees, especially favorable for high-volume traders with further discounts available.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	Offers a broad range of over 100 cryptocurrencies, catering to diverse trader demands.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	Features an extensive array of trading pairs, facilitating varied and flexible trading strategies.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	Generally transparent about fees and terms, though some details on security could be clearer.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	AscendEX lacks an exchange card feature, which could enhance the usability of cryptocurrencies for everyday transactions and offer additional benefits to its users.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Provides secure storage options with cold storage and multi-factor authentication.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Offers competitive staking rewards and various incentives for participation in trading activities.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and ease of use.
Customer service is available but response times can be slow during peak times.	Customer Service	Robust customer support with responsive service via multiple channels.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	Efficient deposit and withdrawal processes are in place, although adding more fiat options could improve accessibility and convenience.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,5/5

Additional features

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

Instant EFT payments, savings wallets, recurring buy orders, OTC trading

Anonymity

Key points

Available cryptocurrencies

150+

20+

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.

Altcoin Trader is known for its simple and user-friendly interface, which makes it accessible for new traders. The platform focuses on ease of use, ensuring that buying and selling cryptocurrencies is straightforward.

Value for money

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

Delivers decent value for money, especially for South African users, with competitive fees and easy access to local banking options.

Countries of operation

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

South Africa, Namibia, Botswana, Zimbabwe, Lesotho

Best for

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

Best for South African investors looking for easy access to local banking options and competitive fees, making it ideal for regional users.

Base currencies available

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

ZAR, 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.

Altcoin Trader is ideal for users looking to trade a variety of altcoins. The platform is easy to navigate, but its fee structure is slightly higher than average. Additionally, the platform’s customer support could use improvement.

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.

Altcoin Trader provides bank transfer and cryptocurrency deposit options. Withdrawals are usually processed within 24 hours. Fees are relatively low, making it accessible for beginners.

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.

Altcoin Trader has a simple account registration process. It requires basic personal information, proof of identity, and address verification. The process is quick, usually taking less than a day, making it accessible for new users.

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.

Altcoin Trader provides support through email and live chat. The support team is responsive and helpful, but the lack of 24/7 availability can be a downside for users needing immediate assistance.

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 .

Altcoin Trader employs standard security measures like 2FA and encryption. It lacks regulation from major financial bodies, which could be a concern for some investors regarding the safety of their funds.

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 reviewer on our website, I highly recommend AscendEX for both new and experienced traders looking for a comprehensive crypto trading platform. Its robust security measures, extensive range of cryptocurrencies, and competitive trading fees make it a reliable choice. The platform’s user-friendly interface, coupled with excellent customer support, ensures a smooth trading experience, making it well-suited for anyone looking to delve into the crypto 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.