Comparison of Bydfi vs Coinjar [ 2024 ]

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

coinjar

Coinjar

  • Threenvest valuation: 3,7/5
  • US legal: Yes
  • 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
≤0,10%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for copy trading.
3.8 – Reasonable fees with additional costs for premium services.

Level

0,10%/0,30%
≤0,10%

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.
CoinJar implements a competitive fee structure tailored to accommodate both novice and experienced traders. For trading, the fees vary depending on whether you use the instant buy/sell feature or the CoinJar Exchange. Instant buy/sell transactions come with a straightforward 1% fee, which is slightly higher but offers convenience for quick trades. On the other hand, CoinJar Exchange offers a tiered fee structure starting from 0.1% for makers and 0.2% for takers, decreasing with higher trading volumes. This tiered approach incentivizes active traders with lower fees, making it a more cost-effective option for frequent trading.

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

Coinjar

coinjar
Read bydfi review
  • Year Founded: CoinJar was established in 2013, making it one of the earliest players in the cryptocurrency exchange space, which speaks to its longevity and experience in the industry.
  • Reputation and Reviews: CoinJar is known for its user-friendly interface and reliable customer support. It has garnered positive reviews from users worldwide, contributing to its reputation as a trustworthy platform.
  • Security Methods: CoinJar employs robust security measures including two-factor authentication, multi-signature wallets, and encrypted personal data to ensure the safety of its users' assets.
  • Customer Service: The platform is lauded for its responsive customer service, offering quick and helpful support through multiple channels including email, phone, and live chat, ensuring users receive the assistance they need.
  • Volume Managed: CoinJar has processed over $1.5 billion in transactions, demonstrating its capability to handle large volumes and providing liquidity which is essential for a reliable trading experience.
  • Pros
  • User-friendly, intuitive trading platform.
  • No deposit or withdrawal fees.
  • Integrated with Apple Pay, Google Pay.
  • Cons
  • Higher fees compared to competitors.
  • Limited advanced trading features.

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
CoinJar Pty Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

Unknown
2013

Founder

Unknown
Asher Tan and Ryan Zhou

Payment methods

Transfers

No
Yes

Mastercard

No
Yes

Wire transfer

No
Yes

Card

No
Yes

Comparative table

Bydfi FEATURES Coinjar
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
Minimum Trade
CoinJar allows users to trade with small minimums, making it accessible for beginners to start with lower risk.
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Trading and Transaction Fees
The fees are slightly higher than some competitors, which could be a disadvantage for frequent traders.
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
Number of Cryptocurrencies
CoinJar offers a solid range of cryptocurrencies, providing good options for users looking to diversify their portfolios.
Offers a robust selection of trading pairs, enabling versatile trading strategies.
Crypto-to-Crypto Trading Pairs
It supports various trading pairs, allowing users to trade directly between cryptos without converting to fiat first.
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 is clear and informative, providing all necessary information about fees, services, and trading options without hidden details.
An exchange card is absent, which limits convenience for everyday transactions.
Credit/Debit Card
nJar offers a prepaid Mastercard that allows users to spend their cryptocurrency in-store and online wherever Mastercard is accepted. The card supports over 50 cryptocurrencies and integrates with Apple Pay and Google Pay.
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Storage Offering
Provides excellent digital wallet services with robust security measures, ensuring the safety of user assets.
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Staking and Rewards
Offers some options for staking and rewards but may not be as competitive or extensive as other platforms.
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, offering a seamless trading experience.
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
Customer Service
Generally receives good reviews for customer service, though response times can vary during peak times.
Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.
Deposit and Withdraw
CoinJar supports multiple methods for deposit and withdrawal, including bank transfers and digital wallets, though fees may apply.

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
CoinJar Card, recurring buys, CoinJar Bundles, CoinJar Exchange

Anonymity

Yes
No

Key points

Available cryptocurrencies

Limited, derivatives focused
30+

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.
CoinJar features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.
Provides reasonable value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and Australian users.

Countries of operation

United States, Canada, United Kingdom, Australia, Singapore
Australia, United Kingdom, Europe

Best for

Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.
Ideal for Australian and UK investors looking for a user-friendly platform with competitive fees and strong customer support.

Base currencies available

USDT (for derivative products)
AUD, GBP, 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.
CoinJar is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but lacks advanced trading tools.

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

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.
CoinJar provides a simple and efficient account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

No
Yes

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.
CoinJar provides support through email and live chat. The support team is responsive and available 24/7, ensuring users get timely assistance.

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

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 one of the experts here at our site, I’ve had a lot of experience with various crypto exchanges, and I can confidently say that CoinJar stands out, especially for those who are just starting their journey into cryptocurrencies. Its user-friendly interface makes it incredibly easy to navigate and manage your digital assets. Whether you’re looking to buy your first Bitcoin or diversify into other cryptocurrencies, CoinJar provides a seamless experience with robust security measures to protect your investments. I highly recommend giving CoinJar a try if you value a straightforward and secure platform for engaging with the crypto market.

View all comparisons against Bydfi

View all comparisons against Coinjar

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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