Comparison of Blockchain.Com vs Bit [ 2024 ]

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

Your expert: Alejandro Borja

Blockchain.Com

Investing risks losing your money

Your expert: Xavier Tarrasó

Bit

Investing risks losing your money

Main points

Fees

0,40%/0,45%

Earns

Yes

Customer service

3/5

0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.8 – Reasonable fees with a focus on security and ease of use.

3.6 – Reasonable fees but higher for certain advanced trading options.

Level

0,40%/0,45%

0.07%/0.04%

Brief explanation

Blockchain.com maintains a competitive fee structure for its trading services. The platform charges a dynamic fee for transactions, which typically aligns with industry standards to ensure affordability while maintaining high-quality service. For cryptocurrency trading, the fees vary depending on the market conditions and the type of transaction, such as buying, selling, or exchanging cryptocurrencies. It’s important for users to review the specific fees associated directly on the Blockchain.com platform before executing any trades to understand the potential costs involved fully. This fee structure is designed to be transparent, allowing users to make informed decisions without hidden charges.

Bit.com offers a competitive fee structure that’s attractive for both casual and serious traders. The exchange charges a 0.06% fee for takers and a 0.04% fee for makers, which is below the industry average. This low fee schedule is beneficial for high-volume traders as it allows them to maximize their profits on each trade. Additionally, Bit.com does not charge any deposit fees for cryptocurrencies, though there are fees associated with fiat withdrawals and deposits, which vary depending on the payment method and the currency involved. Overall, this fee arrangement supports an active trading environment at a reduced cost.

Blockchain.Com

Year Founded: Blockchain.com has been a trusted name in the cryptocurrency market since 2011. Its longstanding presence serves as a testament to its reliability and enduring commitment to serving the crypto community.
Security Methods: The exchange employs advanced security measures including the use of cold storage for the majority of assets, two-factor authentication, and cutting-edge encryption technology. These protocols ensure a high level of security, safeguarding user funds against potential threats.
Reputation and Reviews: Over the years, Blockchain.com has built a solid reputation within the cryptocurrency community. Positive user reviews frequently highlight the platform's reliability, security, and ease of use, which reinforces its status as a trusted exchange.
Trading Volume and Liquidity: Blockchain.com supports a significant trading volume and liquidity, making it a preferred platform for traders looking for a seamless trading experience without the risk of market manipulation. High liquidity ensures that trades can be executed quickly and at desired prices.
Transparency: Blockchain.com is known for its transparent operations, providing users with detailed information on transactions, fees, and the security measures in place. This level of openness is crucial in building trust and credibility among users.

Read blockchain.com review

Bit

Security Methods: Bit.com employs advanced security protocols including multi-factor authentication, cold storage of assets, and continuous system monitoring, ensuring a high level of protection for user funds and personal data.
Reputation and Reviews: Since its inception, Bit.com has quickly built a strong reputation for reliability and professionalism within the crypto community. The positive reviews and testimonials from seasoned traders underline its credibility and trusted status in the market.
Trading Volume and Liquidity: Bit.com is known for its high trading volume and liquidity, which is crucial for executing large trades without significant price slippage. This makes it an ideal platform for institutional investors and professional traders who require quick order execution.
Transparency: The exchange is transparent about its fee structure, trading processes, and the security measures it implements. This openness is essential for building trust with users and is a core reason why many choose to trade on Bit.com.
Withdrawal and Deposit Policies: Bit.com offers clear and user-friendly policies regarding withdrawals and deposits. These policies are designed to provide convenience while also ensuring the security of transactions, which significantly enhances user trust and satisfaction with the platform.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Blockchain Access UK Ltd.

Unknown

Regulation

Not regulated

Regulation not specified

Year founded

2011

Unknown

Founder

Ben Reeves (parte del equipo original de Coinbase también)

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Blockchain.Com	FEATURES	Bit
Blockchain.com allows users to start trading with a relatively low minimum, accommodating smaller budgets.	Minimum Trade	Allows small minimum trades, accessible for those looking to start with modest amounts.
Fees are somewhat higher than competitors, which could be a deterrent for high-frequency traders.	Trading and Transaction Fees	Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Supports a wide range of popular cryptocurrencies, providing good options for diversification.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
Offers a solid variety of trading pairs, allowing users to trade popular crypto combinations easily.	Crypto-to-Crypto Trading Pairs	Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
The platform is highly transparent about its operations, fees, and security measures.	Website Transparency	The website provides clear and detailed information about fees, policies, and trading options.
While Blockchain.com provides a robust platform for trading and wallet services, the lack of a branded exchange card limits the flexibility for users to spend and earn rewards directly from their cryptocurrency holdings in everyday transactions.	Credit/Debit Card	Bit.com lacks an exchange card, limiting additional spending flexibility and benefits for its users compared to some competitors that offer branded cards with rewards.
Provides secure storage options including cold storage, ensuring high safety for user assets.	Storage Offering	High-level security storage solutions including cold storage options to protect user assets.
Limited options for staking and rewards, which could be improved to enhance user investment benefits.	Staking and Rewards	Offers staking options but with limited rewards compared to leading competitors.
Both mobile and desktop platforms are user-friendly and well-designed, offering seamless trading experiences.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer support is available but response times and effectiveness can vary, indicating room for improvement.	Customer Service	Customer service is available, but response times can vary, impacting user experience during peak times.
Efficient deposit and withdrawal processes, though some users may find the options somewhat limited.	Deposit and Withdraw	Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Price tracking, but limited technical analysis tools

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Blockchain wallet, lending services, staking, institutional services

Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

40+

30+

User-friendliness

Offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides essential features without overwhelming new users.

Bit offers a straightforward and intuitive platform that is easy for beginners to use. The interface is clean and provides essential features without overwhelming new users.

Value for money

Offers reasonable value for money with competitive fees and a strong focus on security, though it may lack some advanced trading features.

Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Countries of operation

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

United States, Canada, United Kingdom, Australia, Singapore

Best for

Best for traders who prioritize security and want a straightforward platform with competitive fees.

Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Base currencies available

USD, GBP, EUR, BTC

JPY, USD, EUR, BTC

Account

Trading

Blockchain.com provides a secure trading platform with a good selection of cryptocurrencies. It is easy to use but has higher fees compared to some competitors.

BIT exchange offers robust security and a user-friendly interface. While it provides essential trading features, it lacks the advanced tools required by professional traders. The exchange also has moderate liquidity.

Deposit and withdrawal

Blockchain.com offers multiple deposit options like bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day, with low fees.

BIT exchange supports multiple deposit options such as bank transfers and cryptocurrencies. Withdrawals are processed efficiently, usually within a day. Fees are minimal, enhancing accessibility.

Account opening process

Blockchain.com offers a straightforward and user-friendly account registration process. Users need to provide personal information, verify their identity, and the account is usually approved within a day.

BIT exchange provides an easy account registration process. Users need to provide personal details and verify their identity. The account is usually approved within a day, ensuring quick access to trading.

KYC required?

Yes

Customer Service

Blockchain.com offers customer support through email and live chat. The support team is responsive, but the absence of phone support and limited availability can be a disadvantage.

BIT 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.

Security

Blockchain.com offers strong security features like 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

BIT offers strong security features, including 2FA and encryption. Despite its robust security measures, the platform lacks regulation from major financial authorities, which could be a concern for some users.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend Blockchain.com for those who prioritize security and a user-friendly trading environment. It’s particularly suitable for new entrants to the cryptocurrency market, thanks to its intuitive interface and robust security measures. However, potential users should be aware of its higher transaction fees and mixed customer service reviews, which are areas the platform could improve to enhance the overall user experience.

Xavier Tarrasó

As an expert on our website, I recommend Bit.com for traders looking for a robust platform that excels in derivatives trading and offers high liquidity. Its advanced security and comprehensive trading tools make it a strong choice for experienced traders. However, new traders should be aware that the platform’s complexity and limited fiat support could pose initial hurdles. Overall, Bit.com is a standout exchange for those looking to leverage sophisticated trading strategies in the cryptocurrency market.

View all comparisons against Blockchain.Com

View all comparisons against Bit

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.