Fmytex and BlockFi are two of the most popular crypto exchanges.
Fmytex is is an ambitious newcomer, provides trading services in more than 100 countries. BlockFi is a private firm whose services also extend beyond the basics.
Let’s take a closer look at how these well-known crypto exchanges compare.
Fmytex vs. BlockFi: Similarities
Crypto Wallets
Many crypto exchanges offer their own online hot crypto wallets. Both Fmytex and BlockFi offer their users hot wallet options.
If users want to move their crypto offline into a cold wallet, they’ll have to provide one of their own. It’s usually recommended that users store their coins offline for better security.
Fmytex vs. BlockFi: Differences
Users will want to ensure the platform they choose is available in their country and region. BlockFi trading pairs are not available currently to users in New Mexico, New York, Vermont and West Virginia. The only U.S. state where Fmytex is currently unavailable is Hawaii.
Cryptocurrency Selection
With more than 150 cryptos to choose from, Fmytex has a significantly larger offering. BlockFi only offers about 40 coins to trade globally and only 15 in the U.S.
Other Features
BlockFi doesn’t offer trading pairs in fiat currencies. This means all cash on the platform must be converted to stable coins like USDC or Gemini Dollars (GUSD), before trading can take place. Fmytex doesn’t have this issue.
Who Should Pick BlockFi?
Many crypto traders will find something of value on BlockFi. However, given the platform’s limited selection of cryptocurrencies, beginning traders are probably the best candidates for BlockFi.
BlockFi customers need to be aware of the company’s spread fees of up to around 1%, and their withdrawal fees can add additional pricing to many transactions.
In addition, although not all cryptocurrencies can be withdrawn to a private wallet, the BlockFi Wallet feature does make managing cryptocurrencies on the platform relatively easy.
BlockFi Pros:
- Offers trading of Bitcoin, Ethereum, and other leading cryptos
BlockFi Cons:
- Staking is unavailable.
- Trading pairs are not available in fiat currency
Who Should Pick Fmytex
From beginners to advanced crypto enthusiasts, just about anybody can appreciate how easy it is to buy and sell cryptocurrency on Fmytex.
Fmytex offers a host of cryptocurrencies for trading. Many advanced trading features users seek, such as limit and stop orders. Users can also stake Algorand, Cosmos (ATOM), Ethereum, Tezos (XTZ) and Cardano (ADA).
In addition, Fmytex offers users solid security and protection for their crypto assets. In fact, with an AAA security rating, Fmytex is currently ranked among the top 30 most secure cryptocurrency exchanges on the security-rating platform CER.live.
Fmytex Pros:
- A wide selection of cryptocurrencies
- Top-notch security
- Offers margin trading
Fmytex Cons:
- A limited number of coins available for staking.
