Comparison of Wirex vs Paribu [ 2024 ]

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

Your expert: Alejandro Borja

Wirex

Wirex

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

Investing risks losing your money

Your expert: Xavier Tarrasó

paribu

Paribu

  • Threenvest valuation: 3,7/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

1%

Earns

No

Customer service

3/5
0,25%/0,35%

Fees

Yes

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with additional benefits for cardholders.
3.8 – Competitive fees with strong local support in Turkey.

Level

1%
0,25%/0,35%

Brief explanation

Wirex’s fee structure is designed to encourage both the use of its native token and engagement with its broad range of services. The platform charges a clear, competitive trading fee of 1% for buying or selling cryptocurrencies, which is straightforward and easy to understand for all users. For crypto-to-fiat transactions, Wirex imposes a fee that includes a small percentage of the transaction amount plus a fixed nominal fee, which varies depending on the currency involved. This system allows users to manage their costs effectively by understanding the exact fees in advance, making financial planning simpler and more predictable. Wirex also incentivizes the use of its native WXT tokens by offering reduced fees, enhancing savings for regular users.
Paribu charges a trading fee structure that is slightly above the industry average, consisting of 0.35% for takers and 0.25% for makers. These fees can be reduced based on trading volume, providing an incentive for active traders. This tiered fee system aligns well with traders who maintain high monthly trade volumes, as they can benefit from reduced costs, lowering the fees to as much as 0.15% for both makers and takers under certain conditions. This approach encourages more trading activity while also supporting both casual and serious traders in managing their trading expenses effectively.

Wirex

Wirex
Read Wirex review
  • Security Methods: Wirex employs robust security measures including cold storage for funds, 2FA, and the latest encryption technology to protect user data and transactions.
  • Reputation and Reviews: Wirex has established a strong reputation in the cryptocurrency space, backed by positive reviews from users appreciating its ease of use, innovative features, and reliable customer service.
  • Regulation: As a principal member of Mastercard, Wirex adheres to strict regulatory standards, ensuring a secure and compliant environment for handling your digital and traditional currencies.
  • Customer Service: Wirex supports its users with a dedicated customer service team, providing help and guidance to ensure a smooth user experience across its platform.
  • Volume Managed and Liquidity: Wirex handles a significant volume of daily transactions, offering high liquidity which ensures that users can perform transactions efficiently and at competitive rates.
  • Pros
  • User-friendly interface
  • Crypto-backed Visa card
  • Multi-currency support
  • Cons
  • High foreign exchange fees
  • Limited customer support

Read Wirex review

Paribu

paribu
Read Wirex review
  • Year Founded: Established in 2017, Paribu has been active for several years, allowing it to develop and refine its security and service offerings.
  • Number of Users: With over a million active users, Paribu has a significant user base, which underscores its popularity and reliability in the Turkish market.
  • Security Methods: Paribu prioritizes the security of its users with robust protection measures and has no history of significant security breaches, contributing to its trustworthy reputation.
  • Regulation: It operates under Turkish financial regulations, ensuring compliance with local laws which provides a layer of security and trust for its users.
  • Customer Service: Offering 24/7 customer support in Turkish, Paribu ensures that its users have access to help whenever needed, enhancing user satisfaction and trust in the platform.
  • Pros
  • User-friendly interface
  • 24/7 trading availability
  • Secure transactions
  • Cons
  • Limited global reach
  • No advanced trading tools

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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

Wirex Limited
Unknown

Regulation

Regulated in the Reino Unido
Not regulated

Year founded

2014
2017

Founder

Pavel Matveev and Dmitry Lazarichev
Yasin Oral

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

Yes
Yes

Card

Yes
Yes

Comparative table

Wirex FEATURES Paribu
Wirex allows flexible trading amounts, making it accessible for users of all investment levels, though specific minimums depend on currency pairs.
Minimum Trade
Paribu allows trading with very low minimum thresholds, making it accessible for beginners and those with limited capital.
Wirex offers competitive trading fees, but its foreign exchange fees can be higher than average, which might affect those trading or using multiple currencies frequently.
Trading and Transaction Fees
Paribu’s fees are slightly above average, but it offers reductions for higher volume traders, balancing cost with trading activity.
Wirex supports a solid range of cryptocurrencies including major ones like Bitcoin, Ethereum, and Litecoin, making it suitable for most traders’ needs.
Number of Cryptocurrencies
Paribu offers a moderate variety of cryptocurrencies, primarily focusing on major ones, which might limit options for those looking to trade less common coins.
There is a good selection of trading pairs available, providing users with various trading strategy options.
Crypto-to-Crypto Trading Pairs
The platform has limited crypto-to-crypto pairs, focusing mainly on fiat to crypto transactions, which could be a downside for versatile traders.
The Wirex website provides clear information about fees, services, and user guidelines, making it easy for users to find the information they need.
Website Transparency
The website provides clear information about trading conditions and fees, though some details about governance and operations could be more comprehensive.
Wirex offers a Visa card that integrates with cryptocurrency accounts, allowing users to spend their cryptocurrency at any Visa-compatible point of sale. The card functionality scores highly for its convenience and integration.
Credit/Debit Card
As Paribu focuses primarily on cryptocurrency trading within the Turkish market, the absence of an exchange card limits the utility and flexibility for users seeking integrated financial services like spending crypto directly for purchases or earning rewards. This could be an area for potential development to enhance user engagement and overall platform utility.
Wirex provides secure cryptocurrency wallets with cold storage options, ensuring safety for user funds, though it’s less customizable than dedicated crypto wallet services.
Storage Offering
Offers secure storage solutions, but lacks some advanced security features like multi-sig wallets or insurance on assets.
Offers rewards such as Cryptoback™ rewards on card purchases, but the staking options are somewhat limited compared to dedicated staking platforms.
Staking and Rewards
Limited staking options are available, which might not cater to users looking to earn through staking or participation in network security.
The Wirex app and desktop platform are user-friendly and provide a seamless experience for managing cryptocurrencies and fiat currencies.
Mobile App and Desktop
Both mobile and desktop platforms are user-friendly and well-designed, offering good usability but lacking some advanced trading tools.
Customer service is a known issue with reports of slow response times and unresolved issues, impacting the overall user experience.
Customer Service
Excellent customer service with 24/7 availability and multiple support channels, including direct responses.
Deposits and withdrawals are generally smooth with support for multiple fiat currencies, but sometimes can experience delays which should be noted.
Deposit and Withdraw
Offers multiple deposit and withdrawal methods but can improve by adding more international options and reducing fees for certain transactions.

Key features

Analysis tools

Basic price tracking
Basic charting tools

Mobile APP

No
No

Security

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

Additional features

Crypto debit card, staking, Wirex rewards, fiat on/off ramps
Staking, fiat on/off ramps, Paribu Earn, educational resources

Anonymity

No
No

Key points

Available cryptocurrencies

10+
50+

User-friendliness

Wirex 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.
Paribu features a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with all necessary features easily accessible.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly platform, though it may lack some advanced features.
Offers good value for money with competitive fees and strong local support in Turkey, making it a good choice for regional users.

Countries of operation

Global, including United States, Canada, United Kingdom, Australia, Germany
Turkey

Best for

Best for global traders looking for a reliable platform with competitive fees and a wide range of supported cryptocurrencies.
Suitable for Turkish investors looking for a reliable platform with competitive fees and strong local support.

Base currencies available

USD, EUR, GBP, BTC
TRY, BTC

Account

Trading

Wirex provides a secure platform with easy fiat integration and a good range of cryptocurrencies. It offers additional services like a debit card but has higher fees compared to some exchanges.
Paribu is a popular exchange in Turkey, offering a good selection of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading tools.

Deposit and withdrawal

Wirex supports multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Paribu is popular in Turkey, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Wirex provides an easy and fast account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.
Paribu provides a seamless account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

Yes
No

Customer Service

Wirex provides comprehensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.
Paribu provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in Turkey.

Security

Wirex ensures security through 2FA, encryption, and cold storage. It is regulated by several financial authorities, making it a highly secure platform for investors.
Paribu ensures security through 2FA, encryption, and cold storage. It is regulated by Turkish authorities, providing a secure environment for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As a Wirex exchange expert, I’d like to share a little advice on why you might consider using Wirex for your crypto transactions. Wirex offers a uniquely integrated platform where you can manage both fiat and cryptocurrencies seamlessly. The ability to use a Visa card linked directly to your Wirex account allows you to spend your crypto holdings just as easily as fiat, virtually anywhere Visa is accepted. This feature alone makes Wirex an excellent choice for those who want to make cryptocurrencies a regular part of their financial toolkit. Plus, their user-friendly interface makes navigating through crypto transactions straightforward, even for beginners.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a seasoned analyst observing the dynamics of cryptocurrency exchanges, I find Paribu particularly noteworthy for investors who prioritize ease of use and are based in Turkey. The exchange’s robust local currency support and user-centric approach make it an appealing platform for beginners. It’s ideal for those seeking to enter the crypto market with a straightforward and secure trading environment. If you are navigating the complex world of cryptocurrencies for the first time, Paribu’s tailored features and strong customer support structure provide a comforting starting point.

View all comparisons against Wirex

View all comparisons against Paribu

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 Wirex and Paribu