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Cryptocurrency & Blockchain · head to head

Alchemy vs Phemex

Alchemy logo

Alchemy

Cryptocurrency & Blockchain

The web3 development platform

From
Free
Rated
-
Full reviewWebsite
Phemex logo

Phemex

Cryptocurrency & Blockchain

Break through with crypto

From
Free
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Alchemy the free tier is capped at 30M compute units a month and 25 requests per second; Phemex full KYC verification required for complete feature access and higher withdrawal limits
  • They diverge on capability: Alchemy covers Node APIs, Phemex covers Spot Trading.

Where they differ

Only the attributes on which Alchemy and Phemex actually diverge.

Attributes where Alchemy and Phemex differ
AttributeAlchemyPhemex
Pricing modelfreemiumUnknown
PlatformsApi, WebWeb, Mobile
Founded20172019

Identical on both: starting price (Free), free tier (Yes), user rating (Not yet rated), category (Cryptocurrency & Blockchain).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Alchemy

  • Node APIs
  • Enhanced APIs
  • NFT API
  • Webhooks
  • Mempool
  • 35+ chains
  • SDKs
  • Api support

Only in Phemex

  • Spot Trading
  • Contract Trading
  • Copy Trading
  • Earn
  • Launchpad
  • PT Token
  • Ios support
  • Android support

Both cover

  • Web support

What people use each for

The jobs each tool is most often brought in to do.

Alchemy

  • Hosted blockchain node access across mainnets and testnetsnot Phemex
  • Backing a production web3 application without running nodesnot Phemex
  • Webhook-driven notifications for on-chain eventsnot Phemex
  • Scaling read throughput beyond self-hosted node limitsnot Phemex

Phemex

  • Spot trading across 600+ crypto assets with high-speed matchingnot Alchemy
  • Perpetual futures contracts with up to 100x leverage (USDT-M and Coin-M)not Alchemy
  • Automated trading with grid, Martingale, and signal trading botsnot Alchemy
  • Copy trading to mirror top traders' strategiesnot Alchemy
  • Staking and fixed/flexible savings for yield generationnot Alchemy

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Alchemy

  • The free tier is capped at 30M compute units a month and 25 requests per second
  • Free accounts are limited to 5 apps and 5 webhooks
  • Beyond the free allowance it is $0.45 per 1M compute units for the first 300M a month
  • Request cost varies by call complexity, from around 10 compute units to over 100, so spend is hard to predict from request counts alone
  • Signed SLAs and priority support require an Enterprise contract

Phemex

  • Full KYC verification required for complete feature access and higher withdrawal limits
  • Specific trading fees not disclosed on primary page; requires navigation to separate Fees page
  • Leverage trading up to 100x carries high risk; platform requires user understanding of derivatives
  • On-chain trading carries smart contract and liquidity risks

Pricing, plan by plan

Alchemy

Free
  • FreeFree
    • 300M compute units
    • 5 apps
    • Core APIs
  • Growth$49/month
    • 400M compute units
    • 15 apps
    • Enhanced APIs
  • Scale$199/month
    • 1B compute units
    • Unlimited apps
    • Premium support

Phemex

Free

No published plan breakdown. See the Phemex review.

Which should you pick?

Choose Alchemy if

  • You need node apis.
  • You want to start without paying.
  • You work on Api, Web.
  • You also want enhanced apis.
Alchemy review

Choose Phemex if

  • You need spot trading.
  • You want to start without paying.
  • You work on Web, Mobile.
  • You also want contract trading.
Phemex review

Questions people ask

Is Alchemy or Phemex better?
Neither clearly leads. Alchemy starts at Free and Phemex at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Alchemy or Phemex?
Alchemy starts at Free and Phemex at Free.
Does Alchemy or Phemex run on more platforms?
Alchemy runs on Api, Web. Phemex runs on Web, Mobile.
Can I use Alchemy for free?
Both have a free tier, so you can try either at no cost before committing.
What is Alchemy best used for?
Alchemy is most often used for hosted blockchain node access across mainnets and testnets, backing a production web3 application without running nodes, webhook-driven notifications for on-chain events, scaling read throughput beyond self-hosted node limits. Of those, hosted blockchain node access across mainnets and testnets and backing a production web3 application without running nodes are not what Phemex is typically brought in for.
What can Alchemy do that Phemex cannot?
Alchemy covers Node APIs, Enhanced APIs, NFT API, Webhooks. Phemex covers Spot Trading, Contract Trading, Copy Trading, Earn. Both handle Web support.
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