Comparison of Bitfinex vs Wirex [ 2024 ]

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

Your expert: Alejandro Borja

Bitfinex

Your expert: Xavier Tarrasó

Wirex

Main points

Fees

0,10% /0,20%

Earns

Customer service

3/5

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

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

3.8 – Reasonable fees with additional benefits for cardholders.

Level

0,10% /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.

Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.

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

Wirex

Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.

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Product selection

Native token

Token LEO

Earns

NFT marketplace

Cripto/debit card

Full name

iFinex Inc.

Wirex Limited

Regulation

Not regulated

Regulated in the Reino Unido

Year founded

2012

2014

Founder

Jean

Pavel Matveev and Dmitry Lazarichev

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitfinex	FEATURES	Wirex
Bitfinex allows trading with a relatively low minimum, catering to both small and large investors.	Minimum Trade	Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Fees are competitive, but high withdrawal fees may deter frequent traders.	Trading and Transaction Fees	Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
Offers a wide range of cryptocurrencies, providing extensive trading options.	Number of Cryptocurrencies	Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
Extensive crypto-to-crypto pairings offer flexible trading strategies.	Crypto-to-Crypto Trading Pairs	There is a good selection of trading pairs available, providing users with various trading strategy options.
Generally transparent with operational and security practices but could improve in fee structures.	Website Transparency	The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
Bitfinex does not provide an exchange card for customers to use for in-store purchases.	Credit/Debit Card	Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
Provides secure storage options including cold storage, though it’s complex for beginners.	Storage Offering	Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
Offers competitive staking options and rewards, enhancing user investment potential.	Staking and Rewards	Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
Both platforms are robust and user-friendly, but the mobile app lacks some advanced features.	Mobile App and Desktop	The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
Customer service is available but response times can be slow during peak times.	Customer Service	Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
Efficient deposit methods; however, withdrawal policies can be restrictive and costly.	Deposit and Withdraw	Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.

Key features

Analysis tools

Advanced charting tools, multiple technical indicators, and APIs

Basic price tracking

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Crypto debit card, staking, Wirex rewards, fiat on/off ramps

Anonymity

Key points

Available cryptocurrencies

150+

10+

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.

Wirex 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.

Delivers reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.

Countries of operation

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

Best for

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

Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

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

USD, EUR, GBP, 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.

Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some 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.

Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive 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.

Wirex provides an easy and fast 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?

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.

Wirex provides comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely 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 .

Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for 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 a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.

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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.