Comparison of Pdax vs Bydfi [ 2024 ]

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

Your expert: Alejandro Borja

pdax

Pdax

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

Investing risks losing your money

Your expert: Xavier Tarrasó

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

Main points

Fees

0,40%/0,50%

Earns

No

Customer service

3/5
0,10%/0,30%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
No

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.9 – Competitive fees with strong local support in the Philippines.
4.0 – Competitive fees with additional benefits for copy trading.

Level

0,40%/0,50%
0,10%/0,30%

Brief explanation

PDAX implements a straightforward fee structure which focuses primarily on trading fees and some transactional costs. Trading fees on PDAX range between 0.40% and 0.50%, depending on the specific market order type—whether it’s a maker or taker order. This fee is slightly above the global average for cryptocurrency exchanges but is justified within the context of a regulated exchange operating under the auspices of the Bangko Sentral ng Pilipinas (BSP). Additionally, while crypto deposits are free, PDAX charges variable fees for fiat deposits and withdrawals which are dependent on the chosen payment method, enhancing flexibility for users. This structure ensures that while users enjoy a secure trading environment, they are also aware of the costs associated upfront.
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.

Pdax

pdax
Read PDAX review
  • Regulatory Compliance: PDAX is licensed and supervised by the Bangko Sentral ng Pilipinas (BSP), ensuring that it adheres to strict financial regulations and provides a secure trading environment for its users.
  • Security Measures: PDAX prioritizes user security with robust protection mechanisms, including multi-factor authentication and cold storage for the majority of user funds, ensuring safety against potential cyber threats.
  • Customer Service: PDAX offers comprehensive customer support with multiple channels, including a detailed FAQ section, email support, and social media engagement, ensuring users receive timely assistance and guidance.
  • Trading Volume and Liquidity: As one of the leading exchanges in the Philippines, PDAX maintains a healthy trading volume and liquidity, which facilitates efficient trading and provides users with better price discovery and trade execution.
  • Transparency: PDAX operates with high transparency, regularly updating users about changes in service, fee structures, and other essential operational aspects, fostering trust through clear communication.
  • Pros
  • Regulated by Philippine central bank.
  • Supports direct PHP transactions.
  • Low entry cost for investors.
  • Cons
  • Limited international market access.
  • Fewer advanced trading features.

Read PDAX review

Bydfi

bydfi
Read PDAX 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.

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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

Philippine Digital Asset Exchange
Unknown

Regulation

Regulated in Filipinas
Not regulated

Year founded

2018
Unknown

Founder

Nichel Gaba
Unknown

Payment methods

Transfers

Yes
No

Mastercard

Yes
No

Wire transfer

Yes
No

Card

Yes
No

Comparative table

Pdax FEATURES Bydfi
PDAX allows users to start trading with as little as PHP 50 per single trade, making it accessible for beginners and those with limited capital.
Minimum Trade
Bydfi offers a low minimum trade requirement, making it accessible for beginners and those looking to start with smaller amounts.
The trading fees range between 0.40% to 0.50%, which is moderately competitive within the region but higher compared to global averages.
Trading and Transaction Fees
Bydfi maintains competitive trading fees, which are lower than many of its competitors, providing cost-effective trading options.
Supports over 37 cryptocurrencies, which is decent for a regional exchange but less compared to larger international platforms.
Number of Cryptocurrencies
Bydfi supports over 100 cryptocurrencies, which is impressive but falls short of the variety offered by some top exchanges.
PDAX primarily focuses on PHP-to-crypto pairs, limiting options for those looking to trade directly between cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Offers a robust selection of trading pairs, enabling versatile trading strategies.
The website provides clear information about trading fees, minimum trade amounts, and other essential policies, although some users may find certain operational details lacking.
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.
This lack of a dedicated card offering means that PDAX users cannot directly utilize their crypto holdings for everyday transactions outside the platform.
Credit/Debit Card
An exchange card is absent, which limits convenience for everyday transactions.
Provides secure wallet services regulated under Philippine law, ensuring safety for digital assets, though it lacks some of the advanced features found in dedicated crypto wallets.
Storage Offering
Offers excellent storage solutions with robust security measures, including cold storage options for the majority of assets.
Currently, PDAX does not offer staking services or rewards, which is a significant drawback for users looking to earn through these mechanisms.
Staking and Rewards
Provides opportunities for staking and earning rewards, though the options and returns are not as extensive as some might prefer.
The mobile app is user-friendly and provides a robust trading experience on the go, although the desktop version could be enhanced with additional trading tools.
Mobile App and Desktop
The Bydfi mobile app and desktop platforms are highly rated for their user-friendly interfaces and reliability.
Offers multiple channels for support including email and social media, but there are reports of delays and the lack of immediate response options like phone support or live chat.
Customer Service
Customer service is available around the clock, but response times can vary, affecting user experience especially in urgent situations.
PDAX supports various local payment methods, which is convenient for Filipino users. International users, however, might find options limited.
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
Basic tools for derivatives trading

Mobile APP

No
No

Security

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

Additional features

Staking, fiat on/off ramps, PDAX Prime, institutional services
Copy trading, futures trading, staking, Bydfi Academy

Anonymity

No
Yes

Key points

Available cryptocurrencies

20+
Limited, derivatives focused

User-friendliness

PDAX 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.
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 good value for money with competitive fees and strong local support in the Philippines, making it a good choice for regional users.
Provides reasonable value for money with competitive fees and a user-friendly interface, making it a good choice for beginners.

Countries of operation

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

Best for

Best for Filipino investors seeking a reliable platform with competitive fees and strong local support.
Best for beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

PHP, BTC
USDT (for derivative products)

Account

Trading

PDAX is a popular exchange in the Philippines, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees.
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

PDAX is popular in the Philippines, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, 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

PDAX provides an easy and quick account registration process. Users need to provide personal details and verify their identity. The process is fully digital and typically takes less than a day to complete.
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
No

Customer Service

PDAX provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.
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

PDAX offers strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some 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-analista-de-brokers.webp

Alejandro Borja

As one of the experts reviewing cryptocurrency exchanges on our website, I’ve taken a close look at PDAX. It stands out as a commendable choice for Filipino investors looking to enter the crypto space. The exchange offers a secure, regulated platform where you can trade directly with the Philippine Peso, making it exceptionally convenient. With a user-friendly interface and the support of local bank transfers, PDAX simplifies the process of buying and selling digital assets. Whether you’re new to cryptocurrencies or seeking a reliable home-market platform, PDAX provides a solid foundation to manage your digital investments.
Xavier-tarraso-mascarell.jpg

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.

View all comparisons against Pdax

View all comparisons against Bydfi

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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