Comparison of Cex.Io vs Bydfi [ 2024 ]

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

Your expert: Alejandro Borja

Cex.Io

Investing risks losing your money

Your expert: Xavier Tarrasó

Bydfi

Investing risks losing your money

Main points

Fees

0,15%/0,25%

Earns

Yes

Customer service

4/5

0,10%/0,30%

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.

4.0 – Competitive fees with additional benefits for copy trading.

Level

0,15%/0,25%

0,10%/0,30%

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.

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.

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

Bydfi

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.

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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

Not regulated

Year founded

2013

Unknown

Founder

Oleksandr Lutskevych

Unknown

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Cex.Io	FEATURES	Bydfi
CEX.IO allows for small minimum trade amounts, making it accessible for beginners to start trading with a low barrier of entry.	Minimum Trade	Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
The fees are competitive but could be more transparent, particularly concerning the different tiers and specific services.	Trading and Transaction Fees	Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
CEX.IO supports a diverse range of cryptocurrencies, offering users a broad selection of popular and lesser-known coins.	Number of Cryptocurrencies	Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
The exchange provides a substantial number of trading pairs, facilitating versatile trading strategies.	Crypto-to-Crypto Trading Pairs	Offers a robust selection of trading pairs, enabling versatile 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 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.
The card is linked to your crypto account, providing convenience and benefits like crypto cashback on purchases.	Credit/Debit Card	An exchange card is absent, which limits convenience for everyday transactions.
Provides secure storage options with a majority of funds held in cold storage, though details could be more accessible to users.	Storage Offering	Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Offers staking for several cryptocurrencies with competitive rewards; however, more coins could be added to enhance this feature.	Staking and Rewards	Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
Both platforms are user-friendly and fully-featured, making trading accessible on the go and from desktop devices.	Mobile App and Desktop	The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
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 around the clock, but response times can vary, affecting user experience especially in urgent situations.
Deposits are straightforward and usually quick, but withdrawal processes and associated fees need clearer explanations and potentially lower costs.	Deposit and Withdraw	Bydfi offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies, with generally quick processing times.

Key features

Analysis tools

Basic charting tools, technical indicators

Basic tools for derivatives trading

Mobile APP

Security

High 4,9/5

High 4,6/5

Additional features

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

Copy trading, futures trading, staking, Bydfi Academy

Anonymity

Yes

Key points

Available cryptocurrencies

80+

Limited, derivatives focused

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.

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.

Value for money

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

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

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.

Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

USD, EUR, GBP, RUB, BTC

USDT (for derivative products)

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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 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.

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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.