Comparison of Bitfinex vs Coinstore [ 2024 ]

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

Your expert: Alejandro Borja

bitfinex

Bitfinex

Your expert: Xavier Tarrasó

coinstore

Coinstore

Main points

Fees

0,10% /0,20%

Earns

No

Customer service

3/5
0.20%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.2 – Low fees for high-volume traders but higher for smaller trades.
4.0 – Competitive fees with additional benefits for high-volume trading.

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.
Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.

Bitfinex

Coinstore

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Product selection

Native token

Token LEO
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

iFinex Inc.
Unknown

Regulation

Not regulated
Not regulated

Year founded

2012
2021

Founder

Jean
Unknown

Payment methods

Transfers

Yes
No

Mastercard

No
Yes

Wire transfer

Yes
No

Card

No
Yes

Comparative table

Bitfinex FEATURES Coinstore
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.
Minimum Trade
Minimum trade amount details not specified but low barrier to entry.
Fees are competitive, but high withdrawal fees may deter frequent traders.
Trading and Transaction Fees
0.2% fee for spot trading, and 0.025%-0.06% for futures .
Offers a wide range of cryptocurrencies, providing extensive trading options.
Number of Cryptocurrencies
Supports 96 tokens and 94 trading pairs .
Extensive crypto-to-crypto pairings offer flexible trading strategies.
Crypto-to-Crypto Trading Pairs
94 trading pairs available .
Generally transparent with operational and security practices but could improve in fee structures.
Website Transparency
Lacks detailed information on some aspects, like withdrawal fees .
Bitfinex does not provide an exchange card for customers to use for in-store purchases.
Credit/Debit Card
Coinstore does not provide an exchange card for in-store purchases.
Provides secure storage options including cold storage, though it’s complex for beginners.
Storage Offering
70% of assets stored in cold storage, AES-256 encryption used .
Offers competitive staking options and rewards, enhancing user investment potential.
Staking and Rewards
No dedicated staking program mentioned .
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.
Mobile App and Desktop
Full-featured mobile app for Android and iOS available .
Customer service is available but response times can be slow during peak times.
Customer Service
Provides 24-hour chat service but lacks direct phone support .
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.
Deposit and Withdraw
Only supports crypto deposits and withdrawals, no fiat support .

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,9/5

Additional features

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

Anonymity

No
Yes

Key points

Available cryptocurrencies

150+
50+

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

Value for money

Offers good value for money with competitive fees and advanced trading features, suitable for both retail and institutional traders.
Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.

Countries of operation

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

Best for

Suitable for experienced traders and institutions looking for advanced trading features and a wide range of cryptocurrencies.
Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

USD, EUR, GBP, JPY, BTC, ETH, USDT
USDT, 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.
Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major 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.
Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, usually within a day, with low fees.

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.
Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

KYC required?

Yes
No

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

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 .
Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

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.
As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.

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.

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