Comparison of Bitmex vs Unocoin [ 2024 ]

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

Your expert: Alejandro Borja

Bitmex

Your expert: Xavier Tarrasó

Unocoin

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5

≈ 0,20%/0,70%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.2 – Competitive fees with a focus on leveraged trading.

3.9 – Reasonable fees with strong local support in India.

Level

≤0,10%

≈ 0,20%/0,70%

Brief explanation

BitMEX’s commission structure is geared towards facilitating a dynamic trading environment, particularly favorable for traders who engage in high-volume trading. The platform primarily charges a trading fee based on the maker-taker model, where makers, who add liquidity to the market by placing limit orders, generally pay a lower fee compared to takers, who remove liquidity by executing against existing orders. The fees on BitMEX vary depending on the product being traded but are typically in the range of 0.025% to 0.075% for makers, which can actually go negative, effectively rewarding makers for adding liquidity. Takers, on the other hand, face fees from 0.075% to 0.25%. This competitive fee structure is particularly advantageous for frequent traders who can benefit from lower costs as their trading volume increases. Moreover, BitMEX does not charge fees for deposits or withdrawals, though standard blockchain network fees apply when withdrawing cryptocurrency. This aspect of the fee structure makes it straightforward and cost-effective for users to manage their funds, aligning with BitMEX’s user-centric approach to crypto trading.

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

Bitmex

Security Methods: BitMEX employs robust security measures, including multi-factor authentication and manual checks for withdrawal processes. This comprehensive approach ensures that all transactions are secure and user funds are protected against unauthorized access.
Trading Volume and Liquidity: The platform is known for its high liquidity and substantial trading volume, which enables traders to execute large trades without significantly affecting the market price. This high volume and liquidity make it a preferred choice for serious traders looking for effective trade execution.
Reputation and Reviews: BitMEX has built a strong reputation in the cryptocurrency trading community, particularly among experienced traders who require advanced trading tools. Despite facing regulatory challenges, it maintains positive reviews for its technical capabilities and innovative financial products.
Year Founded: Established in 2014, BitMEX is one of the more seasoned platforms in the rapidly evolving crypto exchange landscape. Its longevity in the market speaks to its resilience and ability to adapt to the changing regulatory and technological environments.
Customer Service: BitMEX provides dedicated customer service that assists users with any inquiries or issues. The availability of responsive support helps in building trust and ensures that users can rely on prompt assistance whenever needed.

Unocoin

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.
Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users' investments.
Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.
Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.
Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

HDR Global Trading Limited

Unocoin Technologies Private Limited

Regulation

Not regulated, enfrentó acciones legales en los EE. UU.

Not regulated

Year founded

2014

2013

Founder

Arthur Hayes, Ben Delo, Samuel Reed

Sathvik Vishwanath, Harish B V, Abhinand Kaseti, Sunny Ray

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitmex	FEATURES	Unocoin
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.	Minimum Trade	Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.
BitMEX offers competitive fees, especially for high-volume traders, but can be slightly on the higher side for low-volume or casual traders.	Trading and Transaction Fees	The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.
While BitMEX supports major cryptocurrencies, its focus is more on derivatives and futures rather than providing a wide array of crypto assets.	Number of Cryptocurrencies	Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.	Crypto-to-Crypto Trading Pairs	Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.	Website Transparency	The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.
BitMEX lacks a debit or credit card feature for spending or earning rewards, limiting its utility for everyday transactions compared to other exchanges that offer such cards.	Credit/Debit Card	Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.	Storage Offering	Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.	Staking and Rewards	Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.
Both mobile and desktop platforms are robust and well-designed, offering high functionality for trading on the go or at a workstation.	Mobile App and Desktop	Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.	Customer Service	Provides a decent level of customer service with support available through multiple channels, though response times can vary.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.	Deposit and Withdraw	Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy

Staking, recurring buys, Unocoin Earn, bill payments

Anonymity

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies

10+

User-friendliness

BitMEX, while offering advanced trading features, has a relatively user-friendly interface. However, it may be more suited to those with some experience in trading due to its focus on leveraged trading.

Unocoin provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Delivers reasonable value for money with competitive fees and advanced trading features, though its focus on leveraged trading may not suit all users.

Provides decent value for money with competitive fees and strong local support in India, making it a good choice for regional users.

Countries of operation

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

India

Best for

Ideal for experienced traders interested in leveraged trading and advanced trading features.

Ideal for Indian investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

BTC, USDT (for derivative products)

INR, BTC

Account

Trading

BitMEX is renowned for its derivatives trading and leverage options, making it ideal for experienced traders. However, it is not suitable for beginners due to its complexity and high-risk trading environment.

Unocoin is a popular exchange in India, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees compared to some other exchanges.

Deposit and withdrawal

BitMEX focuses on cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.

Unocoin is popular in India, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

BitMEX has a straightforward account registration process, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

Unocoin provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

KYC required?

Yes

Customer Service

BitMEX 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.

Unocoin 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 India.

Security

BitMEX ensures security with 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users regarding the safety of their funds.

Unocoin provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert reviewing cryptocurrency exchanges, I find BitMEX to be a compelling option for experienced traders who are looking for high leverage and sophisticated trading options. However, due to its complexity and the high risk associated with its leverage capabilities, I recommend it primarily for seasoned traders. New users should approach with caution and consider starting with smaller trades until they become more familiar with the platform’s functionalities.

Xavier Tarrasó

As one of the analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto assets.

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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.

Comparison of Bitmex vs Unocoin [ 2024 ]

Bitmex

Unocoin

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Bitmex

Unocoin

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Bitmex and Unocoin