Comparison of Cex.Io vs Bit [ 2024 ]

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

Your expert: Alejandro Borja

Cex.Io

Investing risks losing your money

Your expert: Xavier Tarrasó

Bit

Investing risks losing your money

Main points

Fees

0,15%/0,25%

Earns

Yes

Customer service

4/5

0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

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 but slightly higher for fiat transactions.

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

Level

0,15%/0,25%

0.07%/0.04%

Brief explanation

CEX.IO operates with a transparent fee structure primarily revolving around trading and transaction fees. For traders, the fees are tiered based on the 30-day trade volume, starting from 0.25% for takers and 0.16% for makers at the lowest tier, and decreasing with higher volume. This competitive pricing makes it appealing for both high-volume traders and newcomers. The platform also charges fees for deposits and withdrawals, which vary depending on the currency and method of payment. For example, credit card deposits incur a fee, whereas some methods like bank transfers might offer free deposits depending on the user’s location.

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.

Cex.Io

Security Methods: CEX.IO employs a comprehensive security framework which includes two-factor authentication, encryption technology, and cold storage of digital assets, ensuring a high level of user fund safety.
Reputation and Reviews: Since its inception in 2013, CEX.IO has maintained a strong reputation within the cryptocurrency community for reliability and trustworthiness, reflected in positive user reviews across various platforms.
Regulation Compliance: CEX.IO is registered with FinCEN in the USA and complies with international financial regulations, providing a secure trading environment and adhering to legal standards for financial operations.
Customer Service: The exchange offers dedicated customer support with a commitment to resolving user issues promptly, enhancing user trust through effective communication and support.
Trading Volume and Liquidity: CEX.IO consistently shows strong trading volumes, ensuring liquidity and enabling users to execute transactions swiftly and at desired prices, making it a reliable platform for trading major cryptocurrencies.

Read cex.io 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

CEX.IO Ltd

Unknown

Regulation

Regulated in the Reino Unido

Regulation not specified

Year founded

2013

Unknown

Founder

Oleksandr Lutskevych

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Cex.Io	FEATURES	Bit
CEX.IO allows for small minimum trade amounts, making it accessible for beginners to start trading with a low barrier of entry.	Minimum Trade	Allows small minimum trades, accessible for those looking to start with modest amounts.
The fees are competitive but could be more transparent, particularly concerning the different tiers and specific services.	Trading and Transaction Fees	Competitive fees across trading types, appealing to high-volume traders due to lower costs.
CEX.IO supports a diverse range of cryptocurrencies, offering users a broad selection of popular and lesser-known coins.	Number of Cryptocurrencies	Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
The exchange provides a substantial number of trading pairs, facilitating versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
The website offers clear information on trading conditions, security protocols, and company policies, making it easy for users to find essential details.	Website Transparency	The website provides clear and detailed information about fees, policies, and trading options.
The card is linked to your crypto account, providing convenience and benefits like crypto cashback on purchases.	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 with a majority of funds held in cold storage, though details could be more accessible to users.	Storage Offering	High-level security storage solutions including cold storage options to protect user assets.
Offers staking for several cryptocurrencies with competitive rewards; however, more coins could be added to enhance this feature.	Staking and Rewards	Offers staking options but with limited rewards compared to leading competitors.
Both platforms are user-friendly and fully-featured, making trading accessible on the go and from desktop devices.	Mobile App and Desktop	Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Customer service is available and helpful but can be slow to respond during peak times. Improvements in response time could enhance user experience.	Customer Service	Customer service is available, but response times can vary, impacting user experience during peak times.
Deposits are straightforward and usually quick, but withdrawal processes and associated fees need clearer explanations and potentially lower costs.	Deposit and Withdraw	Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Basic charting tools, technical indicators

Basic charting tools

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

Margin trading, staking, CEX.io Loan service, fiat on/off ramps

Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

80+

30+

User-friendliness

Features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform provides a seamless trading experience with essential features easily accessible.

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

Delivers decent value for money with competitive fees and strong security features, suitable for both beginners and experienced traders.

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, United Kingdom, Europe, Canada, Australia

United States, Canada, United Kingdom, Australia, Singapore

Best for

Suitable for global traders looking for a reliable and secure platform with competitive fees and a wide range of supported cryptocurrencies.

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

Base currencies available

USD, EUR, GBP, RUB, BTC

JPY, USD, EUR, BTC

Account

Trading

CEX.IO offers a secure and user-friendly platform with a good range of cryptocurrencies. It supports fiat integration and has competitive fees but lacks some advanced trading tools.

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

CEX.IO provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, usually within a day, with competitive 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

CEX.IO offers a straightforward account opening process. Users need to provide personal information, verify their identity, and the process is typically completed within a day, making it efficient and user-friendly.

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

CEX.IO provides customer support via email, live chat, and phone. The support team is responsive and available 24/7, ensuring users get timely assistance.

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

CEX.IO offers comprehensive security measures, including 2FA, encryption, and cold storage. It is regulated by several financial authorities, ensuring high security for 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 one of the experts reviewing CEX.IO on our website, I’ve had a positive experience with their platform overall. It’s a great choice for both newcomers to cryptocurrency and seasoned traders. The user interface is straightforward, making navigation and trading uncomplicated. Additionally, their security measures give me confidence in recommending CEX.IO as a reliable place to trade and store digital assets. For anyone looking to dive into crypto trading or expand their portfolio, CEX.IO offers a solid, dependable foundation.

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.

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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.