Delving into two exchanges that offer a lot for the retail investor, a lot of options as deposits and withdraws, Bitpanda vs CEX – which is the better one? One the one side we have an exchange that is far for better for newbies and on the other, we have a more advanced exchange offering even margin trading for more advanced traders. There will be definitely people who will wonder which one to use. As both offer quite the lucrative options.
And both have a wide range of cryptos, well of course, not as much as Binance for example. But they have something that exchanges like Binance and KuCoin lack. Both Bitpanda and CEX are on the market for quite some time. With CEX living through few iterations as it started as a Cloud mining providing before becoming a full-fledged exchange.
Bitpanda is showing us how a modern and user-friendly interface is made. Suitable for new people to digital platforms. Compelling and effective for daily purchasing for different cryptocurrencies. It is unfortunate that the UI of this platform is limited at the same time. It does not offer a good customization option which is a requirement for the more advanced users. Nevertheless, I find the UI perfect for the use case for which the exchange is aiming mostly.
CEX’s main UI is falling somewhere in the middle as it is more advanced from that on Bitpanda. On top of that, it offers another much more advanced interface suitable for day trading. Why? Because CEX is offering you a margin trading option. The main interface is straightforward, it may be overwhelming in the beginning but you will get used to it fast. It is not as simple as the newbie-friendly UI of Bitpanda.
The margin trading UI speaks a completely different language. It is completely different from the regular interface of CEX. Everything is considered with day trading in mind. The margin interface basically is just like another universe when you look at the two sides of the exchange.
Even with a very slick and simple design of Bitpanda, CEX is offering a bit more. More information and more choice. Thus this round goes to CEX, the margin trading UI is the reason why.
Round 1 Winner – CEX
The two exchanges behave very well in this category as neither of one had any breaches during the years since their inception. Both apply high-security standards and KYC. On Bitpanda the KYC is not mandatory for you to use the platform but you have low limits overall. CEX has a mandatory KYC, so even for the basic functions, you need to pass it. This on one side is very good as it will make it harder for people with malicious intentions to hack the exchange. It will drive them off.
On both, you will find the required 2FA Authenticators, Cold/Hot storage, etc… Both exchanges are licensed which is proving even more that their security is regarded high.
Round 2 – TIE
Here you have two exchanges that have a lot of options for deposits and withdraws. Choosing either one of them will not be a mistake if your main strife is to have a wide selection of deposits and withdraws. On Bitpanda you have 20+ cryptocurrencies for deposits and 4 FIAT currencies as an option through Bank Transfer/EPS/Debit and Credit Cards and more. On CEX you have 10+ cryptocurrencies as an option for deposit and withdraw + 4 FIAT options through Debit/Credit Cards/Bank Transfers/SEPA and much more. Exchanges like this that offer multiple FIAT currencies are bound to be of great help at some point. Bitpanda and CEX are excelling in this which makes them important players in the crypto industry.
Round 3 – TIE
Bitpanda offers quite a lot even on this front with 20+ cryptocurrencies for trading and exchanging towards FIAT and Bitcoin. You will also find commodities – Gold and Silver, thus having even more exposure to completely different markets. This is perfect if you want to build up a balanced investment portfolio.
CEX offers a little bit more, besides trading and exchanging the available cryptocurrencies on the exchange to FIAT or BTC, it also offers margin trading. With seven trading pairs for margin with 10x towards BTC and USD, it takes the lead when you compare it to other exchanges. So much in one place is found rarely.
This round is even because the two exchanges offer things that the other lacks. Like commodities on Bitpanda and Margin trading on CEX.
Round 4 – TIE
Bitpanda has a high fee when you buy bitcoin with FIAT, but the maker and taker fee is relatively low at 0.1%. But it does not end here as the more you trade (the more volume you have in 30 days) the lower the fees become. You can get as low as 0.05% for maker and taker and even more if you use their token (BEST), you can get as low as 0.0375% from 0.075% starting point.
CEX applies a similar system depending on how much you trade. Till 5 BTC trading volume in 30 days you have a fee for Taker – 0.25% and Maker – 0.16%. On CEX you can get as low as 0.10% for Taker and 0.00% for Maker if you have over 6000 BTC volume in 30 days.
This round is won by Bitpanda because of its lower fees and the availability to lower them, even more, thanks to its native token – BEST.
Round 5 Winner – Bitpanda
Both exchanges are very close and aim for a similar audience. Both offer something different, but even with that, they remain really close to each other. Both aiming to be FIAT gateways with CEX experimenting in a new direction with Margin trading. But this is not enough for CEX to take home this win. This choice is hard, so hard that it will take me a lot of time to decide. Maybe I want to use Bitpanda for my daily purchases of Bitcoin or CEX. A choice so hard! The two exchanges are good, so choosing either one for purchasing Bitcoin will not be a mistake.