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Do you have ideas or suggestions for changes? Then we look forward to your feedback! We make every effort to keep all metrics and information as up-to-date as possible. However, if you discover an error or outdated information, we would be delighted to hear from you.
Feel free to write to us:
Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
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BitMex vs Binance in comparison
Overview
Binance stands as the preeminent global cryptocurrency exchange, boasting the largest trading volume. Known for its extensive cryptocurrency offerings, competitive fees, and robust features for seasoned users and traders, it also provides a proprietary software wallet, Trust Wallet, for cryptocurrency self-custody.
- Cheap fees
- Comprehensive tools for professional traders
- Might be complex for beginners
- Huge selection of coins
- Low fees
- Range of functions
- Might be complex for beginners
- No regulation
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
- Derivatives
0
%
0.05%
0.00%
₿
0.000079
0.1
%
0.10%
0.10%
₿
0.0002
24
+
$
1
600
+
$
0
- 25 % discount on fees
- Earn interest through staking
- Access token sales on Binance Launchpad
Exchange Rating
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Functions
- Trade bitcoin with 100x leverage
- Low latency market data and trade execution
- Option to place idle funds into BitMEX Earn
- Spot trading, futures trading, margin trading, P2P trading, staking
- Binance Visa Card
- Crypto interest through staking & lending
- Functions for professional traders
Company Details
Our Review
BitMEX is a top choice for experienced traders, offering advanced features such as 100x leverage on Bitcoin and low fees. However, its complex interface and ongoing legal issues involving the founders may deter some users. Security and support receive mixed reviews, making it less ideal for beginners. Overall, BitMEX is a powerful platform for those familiar with crypto trading but has challenges for newer users.
Binance is a leading global crypto exchange offering a vast range of cryptocurrencies and low fees, making it ideal for advanced users. Its extensive features include spot, margin, and derivatives trading, as well as staking and an NFT marketplace. However, the platform's complexity can be challenging for beginners, and ongoing regulatory issues may concern some users. Overall, Binance is a powerful tool for experienced traders who prioritize a comprehensive and cost-effective platform.
Leverage Pioneer vs Market Leader
BitMex made its name offering 100x leverage on Bitcoin before most exchanges dared. Binance became the world's largest exchange by doing everything well. Both target experienced traders—one specialized in high-leverage derivatives, the other in complete capability.
The Leverage Specialist
BitMex built its reputation on extreme leverage—up to 100x on Bitcoin and Ethereum. The platform is designed around derivatives trading with low latency execution and professional-grade tools. For traders specifically focused on leveraged positions, BitMex refined that experience.
Binance offers leverage too, but as one feature among many. The focus is broader—spot, futures, margin, staking, NFTs, and more.
Fee Comparison
BitMex charges 0.05% taker and 0.00% maker—meaning you get paid to add liquidity. Both platforms score 10/10 on fees, but BitMex's maker rebate stands out for high-volume traders.
Binance runs 0.10% on both sides with BNB discounts available. Slightly higher than BitMex's base rates.
Selection and Scope
BitMex lists only 24 cryptocurrencies. It's a derivatives platform, not a discovery platform for new coins.
Binance lists 600 cryptocurrencies across spot and derivatives markets. Far more versatile.
Trust Concerns
BitMex has legal baggage—founders faced charges related to Bank Secrecy Act violations. This affects user trust, and the platform scores 6/10 on security versus Binance's 8/10. Some traders overlook this for the fee benefits; others find it disqualifying.
User Experience
Both score low on beginner friendliness—BitMex at 5/10, Binance at 8/10. Neither is built for newcomers, but Binance at least offers educational resources and a smoother learning path.
BitMex's terminal interface works well for desktop traders who know what they're doing. Those unfamiliar with trading platforms will struggle.
The Decision
BitMex at 7.7 serves derivatives traders who want the lowest fees, highest leverage, and professional tools. Accept the limited selection and legal history concerns.
Binance at 9.4 serves traders who want complete capability—derivatives plus everything else—with stronger trust scores. The rating gap reflects breadth and reliability over specialization.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
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