Comparison of Coinstore vs Bit [ 2024 ]

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

Your expert: Alejandro Borja

coinstore

Coinstore

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

Investing risks losing your money

Your expert: Xavier Tarrasó

bit

Bit

  • Threenvest valuation: 3,8/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Main points

Fees

0.20%

Earns

No

Customer service

3/5
0.07%/0.04%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for high-volume trading.
3.6 – Reasonable fees but higher for certain advanced trading options.

Level

0.20%
0.07%/0.04%

Brief explanation

Coinstore has a competitive fee structure designed to accommodate various types of traders. For spot trading, Coinstore charges a 0.2% fee for both makers and takers. This rate is in line with industry standards and makes it an attractive option for traders looking for cost-effective trading solutions. When it comes to futures trading, the fees are slightly different. Makers are charged a 0.025% fee, while takers are charged a 0.06% fee. This fee structure incentivizes liquidity provision in the futures market, benefiting active traders who can take advantage of lower maker fees. While Coinstore does not support fiat currency deposits or withdrawals, it facilitates crypto-to-crypto transactions efficiently. Users should be aware that withdrawal fees can vary depending on the specific cryptocurrency being withdrawn, although detailed fee information is not prominently displayed on the website. Overall, Coinstore’s fee structure is straightforward and competitive, particularly for those engaged in frequent trading. The lack of fiat support and transparency in some fee details are areas where potential users should exercise caution and seek further information if needed.
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.

Coinstore

coinstore
Read coinstore review
  • Strong Security Measures: Coinstore implements robust security protocols to protect user assets. The exchange stores 70% of its funds in cold storage, uses AES-256 encryption for wallets and private keys, and requires multi-step verification for account access​​.
  • Reputation and Industry Recognition: Coinstore has received accolades within the industry, being named the best exchange in Asia by Crypto 306 and the best rising star by Crypto Expo. Such recognitions highlight the exchange’s commitment to excellence and innovation​​.
  • High Volume and User Base: Coinstore has a significant trading volume and user base. The exchange reports a 24-hour trading volume of around $144 million and supports over 1.1 million registered users across 175 countries, indicating its popularity and trustworthiness among traders​​.
  • Comprehensive Risk Control: The platform uses bank-level security measures, including real-time reconciliation and a comprehensive risk control system, to ensure the safety of user assets. This further enhances the reliability and trustworthiness of Coinstore​​.
  • Regulatory Compliance: As a Singapore-based company, Coinstore complies with the country’s stringent regulatory guidelines. This ensures that the exchange adheres to high standards of security and operational transparency​​.
  • Pros
  • Supports spot and futures trading.
  • Strong mobile app functionality.
  • Robust cold storage security measures.
  • Cons
  • No fiat currency support.
  • Limited advanced trading tools.

Read coinstore review

Bit

bit
Read coinstore review
  • 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.
  • Pros
  • Advanced trading features integrated.
  • High liquidity ensures efficient execution.
  • Competitive fee structure for traders.
  • Cons
  • Complex interface, steep learning curve.
  • No fiat currency support available.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Unknown
Unknown

Regulation

Not regulated
Regulation not specified

Year founded

2021
Unknown

Founder

Unknown
Unknown

Payment methods

Transfers

No
No

Mastercard

Yes
No

Wire transfer

No
No

Card

Yes
No

Comparative table

Coinstore FEATURES Bit
Minimum trade amount details not specified but low barrier to entry.
Minimum Trade
Allows small minimum trades, accessible for those looking to start with modest amounts.
0.2% fee for spot trading, and 0.025%-0.06% for futures .
Trading and Transaction Fees
Competitive fees across trading types, appealing to high-volume traders due to lower costs.
Supports 96 tokens and 94 trading pairs .
Number of Cryptocurrencies
Offers a decent variety of cryptocurrencies, though not as extensive as the largest platforms.
94 trading pairs available .
Crypto-to-Crypto Trading Pairs
Provides a wide range of crypto-to-crypto trading pairs, enabling diverse trading strategies.
Lacks detailed information on some aspects, like withdrawal fees .
Website Transparency
The website provides clear and detailed information about fees, policies, and trading options.
Coinstore does not provide an exchange card for in-store 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.
70% of assets stored in cold storage, AES-256 encryption used .
Storage Offering
High-level security storage solutions including cold storage options to protect user assets.
No dedicated staking program mentioned .
Staking and Rewards
Offers staking options but with limited rewards compared to leading competitors.
Full-featured mobile app for Android and iOS available .
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Provides 24-hour chat service but lacks direct phone support .
Customer Service
Customer service is available, but response times can vary, impacting user experience during peak times.
Only supports crypto deposits and withdrawals, no fiat support .
Deposit and Withdraw
Efficient processes for depositing and withdrawing funds, though improvements could be made in speed.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, futures trading, staking, Coinstore Launchpad
Spot trading, margin trading, lending services, OTC trading

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

50+
30+

User-friendliness

Coinstore features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
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

Provides decent value for money with competitive fees and a wide range of supported cryptocurrencies, though it may not suit all traders.
Offers reasonable value for money with competitive fees and a straightforward trading experience, though it may lack some advanced features.

Countries of operation

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

Best for

Suitable for traders of all experience levels seeking a platform with a wide range of cryptocurrencies and competitive fees.
Great for beginners and experienced traders looking for a straightforward trading experience with competitive fees.

Base currencies available

USDT, BTC
JPY, USD, EUR, BTC

Account

Trading

Coinstore offers a variety of cryptocurrencies and competitive fees. It has a user-friendly interface but lower liquidity compared to major exchanges.
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

Coinstore supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed quickly, 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

Coinstore provides an easy account registration process. Users need to submit personal details and verify their identity. The process is efficient and usually takes less than a day, making it 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?

No
No

Customer Service

Coinstore provides support via email and live chat. The support team is responsive, but the lack of 24/7 availability can be a limitation for some users.
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

Coinstore offers strong security features with 2FA and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.
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-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I can confidently say that Coinstore is a solid choice for both new and experienced cryptocurrency traders. Its strong security measures, including cold storage and AES-256 encryption, ensure that your assets are well-protected. With a user-friendly interface and a comprehensive mobile app, Coinstore makes trading accessible and convenient. However, keep in mind that it doesn’t support fiat currency transactions and has limited customer service options. If these aspects aren’t deal-breakers for you, Coinstore is a reliable platform worth considering for your crypto trading needs.
Xavier-tarraso-mascarell.jpg

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.

More comparatives Coinstore and Bit