Comparison of Bitmex vs Yellow Card [ 2024 ]

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

Your expert: Alejandro Borja

bitmex

Bitmex

Your expert: Xavier Tarrasó

Yellow Card

Yellow Card

Main points

Fees

≤0,10%

Earns

Yes

Customer service

3/5
hidden

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.2 – Competitive fees with a focus on leveraged trading.
3.8 – Reasonable fees with strong local support in Africa.

Level

≤0,10%
hidden

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.
Yellow Card’s fee structure is designed to be straightforward and competitive, particularly catering to its primary audience in Africa. The platform charges a nominal fee on transactions, which varies slightly depending on the payment method used and the specific fiat or cryptocurrency involved. These fees are generally on par with regional standards and are structured to encourage frequent small transactions, which is typical among its user base. This makes Yellow Card an appealing option for users who value transparency and affordability in their trading activities.

Bitmex

Yellow Card

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Product selection

Native token

No
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

HDR Global Trading Limited
Yellow Card Financial

Regulation

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

Year founded

2014
2016

Founder

Arthur Hayes, Ben Delo, Samuel Reed
Chris Maurice

Payment methods

Transfers

No
Yes

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bitmex FEATURES Yellow Card
BitMEX allows for relatively small minimum trade sizes, making it accessible for traders who prefer to start with smaller amounts.
Minimum Trade
Yellow Card supports relatively low minimum trades, making it accessible for beginners who might want to start small.
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 offers competitive fees, though not the lowest in the market. This could be more attractive with clearer fee structures.
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
Offers only a limited selection of cryptocurrencies, which could be a limitation for those looking to trade beyond the most popular coins.
BitMEX provides a solid selection of trading pairs for major cryptocurrencies, especially in derivatives markets.
Crypto-to-Crypto Trading Pairs
Limited trading pairs are available, focusing primarily on major cryptocurrencies, which restricts trading strategies.
The platform is quite transparent about its terms, fees, and trading options, though some users may find the information overwhelming.
Website Transparency
Yellow Card’s website provides clear information about their services and fees, enhancing user trust.
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
Yellow Card lacks an exchange card, missing an opportunity to extend additional benefits and conveniences to its users.
BitMEX provides secure storage options, but as a derivatives exchange, it does not emphasize wallet services like other exchanges.
Storage Offering
Provides secure storage options, though details on cold storage or insurance would enhance user confidence further.
Limited options for staking or earning rewards, as BitMEX is primarily a trading platform for derivatives.
Staking and Rewards
Offers basic staking services but lacks the variety and competitive rates found on more established platforms.
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 highly functional, suitable for traders on-the-go or at home.
Customer service is adequate, with support channels available, but response times and resolution effectiveness can vary.
Customer Service
Generally responsive and helpful customer service, although peak times can see slower responses.
BitMEX supports efficient mechanisms for deposit and withdrawal, though primarily limited to cryptocurrency movements.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods, though some users may find the options limited compared to larger exchanges.

Key features

Analysis tools

High-level technical analysis tools, derivatives trading features
Basic buying and selling, no advanced tools

Mobile APP

No
No

Security

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

Additional features

High leverage trading, futures contracts, perpetual contracts, BitMEX Academy
Crypto-to-fiat services, bill payments, mobile top-ups, staking

Anonymity

No
Yes

Key points

Available cryptocurrencies

Primarily derivatives, few direct cryptocurrencies
Few, primarily major cryptocurrencies

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.
Yellow Card 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 Africa, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
Nigeria, South Africa, Botswana, Kenya, Ghana

Best for

Ideal for experienced traders interested in leveraged trading and advanced trading features.
Ideal for African investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

BTC, USDT (for derivative products)
Multiple local currencies, 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.
Yellow Card is a popular exchange in Africa, offering easy fiat integration and a user-friendly platform. It supports a good 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.
Yellow Card is popular in Africa, 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.
Yellow Card provides a straightforward and user-friendly account registration 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
No

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.
Yellow Card 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 Africa.

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.
Yellow Card employs comprehensive security measures, including 2FA and cold storage. It is regulated by African authorities, ensuring high security for investors.

Which of these exchanges is for you?

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.
As an expert closely analyzing Yellow Card, I appreciate its focused approach to serving the African market. Its user-friendly interface and support for local payment methods make it an excellent choice for newcomers. However, I recommend potential users consider the limited variety of cryptocurrencies offered. This platform is ideal for those starting their journey in crypto trading or those who primarily deal with major cryptocurrencies.

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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