bynex review

Bynex charges a taker fee of 0.025% on trading, and that is the main cost a buyer pays. It sits below the 0.06% lower mark recorded across exchanges on the site. Withdrawals add 2 BYN bank transfer on the way out.

Bynex is custodial. Custody is listed as custodial, which means the operator holds the balance and the keys stay with the exchange until a withdrawal is made. Anyone who wants to control their own keys needs a different arrangement.

Fiat deposits cover card and bank, so a bank transfer and a card payment both work for topping up. The entity behind the account is ERPBEL Limited Liability Company, based in Belarus, and that is the name deposits sit with.

Withdrawals go out by 2 BYN bank transfer, the published charge for moving funds off the exchange. Budget for it before you sell, since it applies on the way out on top of the 0.025% charged on the trade itself.

Bynex fits buyers who hold Belarusian currency and want a custodial account they can top up by card or bank. It also suits traders who deal often enough for a 0.025% taker fee to matter and who are comfortable with custodial custody.

Support runs on email, chat and help centre, so questions can go by email, live chat or the help centre. No telephone line is listed, which suits people who would rather keep a written record of the exchange than talk it through live.

On cost Bynex leads the three rivals. Bynex charges 0.025%, ActivTrades lists 0%, bunq runs 0.25% to 1.99% and Bit2Me charges 0.6%. Fee levels point clearly towards Bynex for frequent trading.

Bynex is a centralised exchange. Its type is listed as cex and its feature set as custodial, so the account is run by a single operator in Belarus rather than by a decentralised protocol, and the exchange holds the balance.