Comparison of Bydfi vs Blocktrade [ 2024 ]

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

Your expert: Alejandro Borja

bydfi

Bydfi

  • Threenvest valuation: 3,9/5
  • US legal: Yes
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

blocktrade

Blocktrade

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0,10%/0,30%

Earns

Yes

Customer service

3/5
0,30%

Fees

No

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
No

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for copy trading.
3.9 – Competitive fees with additional benefits for European traders.

Level

0,10%/0,30%
0,30%

Brief explanation

Bydfi’s commission structure is designed to be transparent and competitive, catering to both novice and experienced traders. The trading fees are based on a tiered structure that decreases as your trading volume increases, making it more attractive for high-volume traders. This approach not only encourages more frequent and higher volume trading but also ensures that traders can maximize their returns by reducing costs as they scale up their trading activities. For specific transactions, Bydfi charges a nominal fee, which is clearly outlined on their platform, ensuring that users are fully aware of the costs associated with their trading activities. This straightforward fee system is part of Bydfi’s commitment to providing a transparent trading environment.
Blocktrade employs a competitive and transparent fee structure that aligns well with industry standards, making it a cost-effective choice for traders. The platform charges a flat trading fee which is comparable to, if not slightly below, the average fees charged by other exchanges. This straightforward approach ensures that traders can engage in transactions without worrying about variable costs based on the type of trade or the asset being traded. Additionally, Blocktrade does not impose high withdrawal fees, keeping them reasonable and ensuring that users retain most of their earnings. This fee structure is particularly advantageous for frequent traders and those dealing in smaller amounts, as it minimizes the impact of fees on overall investment returns. The clarity and fairness of the fee system at Blocktrade contribute significantly to its attractiveness as a trading platform, especially for those new to the cryptocurrency markets or looking for a cost-effective trading solution.

Bydfi

bydfi
Read bydfi review
  • Year Founded and Stability: Bydfi was established with a clear vision to provide secure and accessible cryptocurrency trading options, rapidly earning a reputation for reliability and user satisfaction.
  • Reputation and Reviews: Bydfi is highly regarded within the crypto community, reflected through positive user reviews and ratings. Its commitment to user satisfaction and continuous improvement of its trading environment have contributed to its strong reputation.
  • Security Methods: Bydfi employs advanced security measures including two-factor authentication, cold storage solutions for the majority of assets, and ongoing security audits, ensuring a robust defense against potential cyber threats.
  • Customer Service: Bydfi offers round-the-clock customer support through multiple channels including live chat, email, and a comprehensive FAQ section. This responsiveness and accessibility demonstrate its dedication to providing a seamless user experience.
  • Volume Managed and Liquidity: Bydfi handles a significant trading volume, offering high liquidity which ensures that trades are executed swiftly and at predictable prices, making it a dependable platform for both high-frequency traders and casual investors.
  • Pros
  • User-friendly interface.
  • Robust security protocols.
  • Wide cryptocurrency selection.
  • Cons
  • Higher transaction fees.
  • Limited customer support.

Read bydfi review

Blocktrade

blocktrade
Read bydfi review
  • Possible Regulation: Blocktrade operates under the regulatory oversight of the Estonian Financial Intelligence Unit and has a legal entity registered in Luxembourg. This adherence to stringent European financial laws ensures a high level of operational integrity and compliance, making it a trustworthy platform for traders.
  • Security Methods: The platform employs advanced security measures to protect user assets and data. These include the use of secure servers, encryption protocols, and a robust internal security framework. The commitment to security is crucial in gaining and maintaining the trust of users.
  • Transparency: Blocktrade is known for its clear and transparent operational practices. This includes straightforward disclosures about trading fees and the risks associated with trading cryptocurrencies. Such transparency is essential for building trust with users who value clear and honest communication.
  • Customer Service: Blocktrade offers dedicated customer support, providing users with timely and helpful assistance on a range of issues, from technical support to transaction inquiries. Good customer service is instrumental in building trust, as it ensures users that the exchange is responsive and attentive to their needs.
  • Trading Volume and Liquidity: While not among the largest, Blocktrade maintains a healthy trading volume and liquidity, which indicates a stable trading environment. This liquidity is vital for users to execute trades efficiently without significant price slippage, further enhancing trust in the platform’s capabilities.
  • Pros
  • Regulated by EU authority.
  • Supports fiat and cryptocurrency deposits.
  • Offers mobile trading applications.
  • Cons
  • Limited cryptocurrency selection.
  • No passive income features.

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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

Unknown
Blocktrade S.A.

Regulation

Not regulated
Regulated in the UE

Year founded

Unknown
2018

Founder

Unknown
Luka Gubo

Payment methods

Transfers

No
No

Mastercard

No
No

Wire transfer

No
No

Card

No
No

Comparative table

Bydfi FEATURES Blocktrade
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
Minimum Trade
Blocktrade allows users to start trading with as little as 1 USD for cryptocurrencies and 3 EUR for fiat, making it accessible for beginners and those testing the platform.
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Trading and Transaction Fees
Fees are competitive within the industry, typically aligning with or slightly better than average, which benefits frequent traders.
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Number of Cryptocurrencies
Currently supports only 8 cryptocurrencies, which may be limiting for those looking to diversify beyond the most common coins.
Offers a robust selection of trading pairs, enabling versatile trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a basic range of crypto-to-crypto trading pairs, sufficient for new traders but less so for advanced users.
The Bydfi website provides clear and comprehensive information about trading procedures and fees, though some users might seek more in-depth details on certain operational aspects.
Website Transparency
The website provides clear information about trading conditions and fees, though some users might seek more detailed data on security practices.
An exchange card is absent, which limits convenience for everyday transactions.
Credit/Debit Card
Lacking a dedicated exchange card, Blocktrade misses an opportunity to provide additional convenience and value to its users through card-linked benefits.
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Storage Offering
Offers secure cold storage options, but lacks some of the more advanced custody solutions available on other platforms.
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Staking and Rewards
Does not currently offer staking or other passive income/reward programs, which could detract from its appeal to long-term investors.
The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Mobile App and Desktop
Both the mobile app and desktop platform are user-friendly and well-designed, making trading accessible for all user levels.
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Customer Service
Generally responsive customer service with multiple channels available, though peak times can see delayed responses.
Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.
Deposit and Withdraw
Supports multiple deposit and withdrawal methods including EUR transactions, but the options for other fiat currencies are limited.

Key features

Analysis tools

Basic tools for derivatives trading
Basic charting tools

Mobile APP

No
No

Security

High 4,6/5
High 4,6/5

Additional features

Copy trading, futures trading, staking, Bydfi Academy
Staking, Blocktrade Earn program, advanced trading tools, fiat on/off ramps

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

Limited, derivatives focused
10+

User-friendliness

Bydfi provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making the trading process smooth and efficient.
Blocktrade provides a straightforward and easy-to-use platform, ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

Value for money

Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.
Provides decent value for money with competitive fees and a focus on European markets, making it a good choice for regional users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Germany, Austria, Switzerland, Slovenia, France

Best for

Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.
Ideal for European investors looking for a reliable platform with competitive fees and a focus on security.

Base currencies available

USDT (for derivative products)
EUR, BTC

Account

Trading

BYDFi (formerly Bybit) focuses on derivatives trading with high leverage options. It is ideal for experienced traders but can be risky and complex for newcomers.
Blocktrade offers a straightforward trading experience with a limited selection of cryptocurrencies. It focuses on security and ease of use, making it suitable for beginners.

Deposit and withdrawal

BYDFi (formerly Bybit) focuses on cryptocurrency deposits and withdrawals. Withdrawals are processed daily, and fees are minimal, but users must manage the timing of their requests.
Blocktrade provides standard deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

BYDFi (formerly Bybit) provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.
Blocktrade’s account opening process is simple and fully digital. Users need to submit personal details and verify their identity. The process is quick and typically takes less than a day to complete.

KYC required?

No
No

Customer Service

BYDFi (formerly Bybit) offers support through email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.
Blocktrade provides support via email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback for some users.

Security

BYDFi (formerly Bybit) ensures security with 2FA, encryption, and cold storage. Despite its strong security measures, it is not regulated by top-tier financial authorities, which could be a concern for some investors.
Blocktrade ensures security through 2FA, encryption, and cold storage. It is not regulated by top-tier financial authorities, which might be a concern for some users.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As one of the seasoned experts at Threenvest, I personally find Bydfi to be an appealing choice for both new and experienced cryptocurrency traders. The platform’s user-friendly interface makes it accessible for newcomers, while its robust security measures provide peace of mind, crucial for safeguarding investments in the often volatile crypto market. From my experience, Bydfi’s competitive fees and diverse range of cryptocurrencies cater effectively to diverse trading strategies, ensuring that both speculative traders and long-term investors can find value. If you’re seeking an exchange that combines usability with a strong focus on security, Bydfi certainly deserves your consideration.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert reviewer on our website, I highly recommend Blocktrade for traders seeking a secure and regulatory-compliant platform. Its strong adherence to European financial regulations ensures a secure trading environment, which is crucial given the volatile nature of cryptocurrencies. If you’re looking for a straightforward, reliable exchange with competitive fees and solid customer support, Blocktrade should definitely be on your radar.

View all comparisons against Bydfi

View all comparisons against Blocktrade

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.

More comparatives Bydfi and Blocktrade