Binance VS Bybit Trading Review 2022 – Fees, Leverage Sign Up Bonus

Binance VS Bybit – Markets, Fees, Leverage

Welcome to Binance VS Bybit article where we will compare trading fees, maximum leverage, signup bonus, security, deposits, and withdrawals. Both Binance and Bybit are spot and derivative crypto trading platforms.

Binance rank as the 1st crypto trading platform in both spot trading and derivative trading volumes, according to Coingecko.

Bybit ranks in the 3th place for derivative volumes and 14th place when we compare spot trading volumes. 

Bybit is mainly a derivative trading platform expanding it’s features while Binance is the worlds largest crypto trading platform in many categories.

Binance VS Bybit Infogrpahic Summary

Binance VS Bybit Infographic

What is Binance?

Binance is the largest crypto trading platform and is offering the following trading instruments

  • Spot trading
  • Margin Trading
  • Futures and perpetuals (USDT/BUSD and crypto)
  • Leveraged Tokens
Read more about the Binance company in our full Binance review.

What is Bybit trading platform?

Bybit is a crypto spot and derivative trading platform and is offering only perpetual futures contracts.

  • Spot trading
  • USDT perpetual
  • Inverse perpetual
Read more about the Bybit company in our Bybit review.

Binance VS ByBit Trading Fees

Binance has a complicated fee structure while Bybit has a straight forward fee structure.

Both Binance and Bybit apply maker and taker fee schemes. In the table below, you can compare spot trading fees, spot trading fees (if paid in Binance Coin BNB), USDT derivative trading fees and BUSD derivative trading fees. In the next section we explain how you can reduce the trading fees on Binance.

Crypto Trading Platform Reviews Binance
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How to reduce Binance and Bybit trading fees?

While Bybit charges flat fees for both spot trading and derivative trading there are  several options to reduce your trading fees with Binance (from already low levels).

  • If your average trading volume for the last 30 days exceeds certain limits you will climb in the VIP ladder and pay less fees
  • An alternative is to hold BNB in your wallet to climb the VIP ladder
  • Another way to pay less fees is to opt in for paying the fees with Binance Coin BNB from the fees page
  • A last option to reduce the trading fees are to sign up with our referral link to receive -20% on all fees

Binance VS ByBit Leverage

Both Binance and Bybit is offering several different leverage trading products

  • Isolated margin is a specific amount of margin is applied to a position. The margin can be adjusted manually later. In the event of a liquidation, you may lose the initial margin and extra margin added to this position. 
  • Cross margin uses all available balance of the corresponding margin account to meet the maintenance margin requirements and to prevent from liquidation. All corresponding available balance can be lost in the event of liquidation. 
Crypto Trading Platform Reviews Binance
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Binance VS ByBit Sign-Up Bonus

Both Binance and Bybit is offering a sign-up bonus or discount

  • If you sign up with Binance via us, you will receive -20% on all fees charged by Binance.
  • If you sign-up with Bybit you will get a chance to get up to $600 in different sign-up tasks.

Binance VS ByBit Account Security

In the table below, we have compared the Binance and Bybit security features for your account and login safety.

2FA: Two Factor Authentication is an extra layer of protection used to ensure the security of online accounts beyond just a username and password. It can be setup via Google Auth, Phone or Security Key (e.g. Yubikey).

Email auth: Critical actions, like withdrawals, are confirmed via an email code(in addition to 2FA)

Whitelist withdrawal addresses: Withdrawals can only be made to preset addresses and it is a 24h delay to add a new address or change an existing.

Email phrase: Protect your account from phishing attempts and ensure that your notification emails are from Binance/KuCoin

Device management: Whitelist your trusted devices

Crypto Trading Platform Reviews Binance
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Binance VS ByBit Countries Supported

Both Binance and Bybit are offering their service and trading platforms internationally and globally. However, there are certain jurisdictions and countries excluded from the list

Who can trade on Binance?

Binance are allowing a long list of countries to signup and use their platform.

However, there are some excluded countries including Singapore, China, North Korea, Iran, Russia and USA, for example. 

For a full list of countries accepted at Binance, see our Kucoin VS Binance review.

Who can trade on Bybit?

Bybit offer it’s products to all jurisdictions globally but a few are excluded; the United States, mainland China, Singapore, Quebec (Canada), North Korea, Cuba, Iran, Crimea, Sevastopol, Sudan, Syria.

Binance VS ByBit Markets Supported

In the table below, we have listed all the futures and perpetuals markets from Binance and Bybit.

Crypto Trading Platform Reviews Binance
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Binance VS ByBit Deposits and Withdrawals

In the table belwo, we have listed Binance VS Bybit deposit and withdrawal methods. In addition, you can easily compare the fees.

Crypto Trading Platform Reviews Binance
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What is Binance VS Bybit 3th party deposits method?

Both Binance and Bybit are offering 3th party deposit options. Here, you will get a few different alternatives to deposit via a 3th party platform.

You will leave or Bybit and be taken to another service which is a separate platform owned by a third party. Read and agree to all the terms before using a 3th party platform.

Supported 3th party payments

  • Simplex credit card (Binance and Bybit)
  • BANXA card and bank transfer

In addition, both listed examples above supports Apple Pay with Bybit.