For some months now we have had a slight suspicion or, to be more formal, a hypothesis: if you buy €100 of Bitcoin in Bitnovo, you receive more BTC than in any of the most used platforms in Spain.
One day we decided to test and use the platforms of other cryptoasset service providers to confirm if our hypothesis was valid. Here is the research conducted and its results.
Platforms and methodology
We have conducted the study analyzing different platforms both nationally and internationally such as: Coinbase, Bit2me, Binance and Crypto.com. The procedure to make the analysis was identical among all platforms and the 5 purchases were made in a margin of less than 5 minutes. The methodology was as follows:
1- A purchase of Bitcoin (BTC) is made with a credit card for a total amount of 100€.
2- If the platform is in custody, the Bitcoins are withdrawn and sent to the user’s Wallet to see how much BTC the buyer really gets.
Which platform is the cheapest to buy Bitcoin?
We proceeded to buy €100 of Bitcoin on each platform and below, we show you the results. If you want to see the step-by-step of each purchase, including images, you can download the study here.
Coinbase
- We bought 100€ in BTC and the total amount received once withdrawn to the wallet is 0,00356316 BTC.
Bit2me
- We bought 100€ in BTC and the total amount received once withdrawn to the wallet is 0,00357175 BTC.
Binance
- We bought 100€ in BTC and the total amount received once withdrawn to the wallet is 0,00341519 BTC.
Crypto.com
- We bought 100€ in BTC and the total amount received once withdrawn to the wallet is 0,00306260 BTC.
Bitnovo
- We bought 100€ in BTC and the total amount received in the wallet is 0,00358214 BTC.
The results of the analysis
In this image you can see the results of our study, where we conclude that Bitnovo’s platform is the one with which we have received the most BTC in the wallet, followed by Bit2me (-0.29%), Coinbase (-0.53%), Binance (-4.66%) and Crypto.com (-14.50%).
Without a doubt, this comparison shows that we have the lowest commissions and that the companies that custody your funds, when it comes down to it, and as the saying goes: cheap is expensive.
Having the best prices is not only a competitive advantage for our company, it is also another sign that we are doing a great job in facilitating access to cryptocurrencies to the general public.
We must emphasize, without talking only about Bitnovo, that it is an important milestone that the two most important Spanish companies in the sector have the best prices and are the fastest in delivering cryptos, comparing them on an equal footing with international unicorns.
If you want to download the complete study, you can do so here.
