Welcome to the Binance VS Bybit article, where we compare trading fees, maximum leverage, signup bonus, security, deposits, and withdrawals. Both Binance and Bybit are spot and derivative crypto trading platforms.
Binance is the 1st crypto trading platform in both spot trading and derivative trading volumes, according to Coingecko.
Bybit ranks in the 3rd place for derivative volumes and 14th place when we compare spot trading volumes.
Bybit is mainly a derivative trading platform expanding its features, while Binance is the world’s largest crypto trading platform in many categories.
Binance VS Bybit Summary
What is Binance?
What is Bybit trading platform?
Binance VS ByBit Trading Fees
Binance has a complicated fee structure, while Bybit has a straightforward one.
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.
How to reduce Binance and Bybit trading fees?
While Bybit charges flat fees for both spot and derivative trading, several options exist 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 the VIP ladder and pay fewer fees
- An alternative is to hold BNB in your wallet to climb the VIP ladder
- Another way to pay fewer fees is to opt-in for paying the fees with Binance Coin BNB from the fees page
- The last option to reduce the trading fees is to sign up with our referral link to receive -20% off all fees
Binance VS ByBit Leverage
Both Binance and Bybit offer several different leverage trading products.
- An isolated margin is a specific amount of margin applied to a position. The margin can be adjusted manually later. For example, in the event of a liquidation, you may lose the initial margin and extra margin added to this position.
- Cross margin uses all available balances of the corresponding margin account to meet the maintenance margin requirements and to prevent liquidation. However, all corresponding available credit can be lost in liquidation.
Binance VS ByBit Sign-Up Bonus
Both Binance and Bybit are offering a sign-up bonus or discount
- If you sign up with Binance via us, you will receive -20% off 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
The table below compares 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 set up 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)
Allowlist 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 one.
Email phrase: Protect your account from phishing attempts and ensure that your notification emails are from Binance/KuCoin
Device management: Allow your trusted devices
Binance VS ByBit Countries Supported
Binance and Bybit offer 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 allows a long list of countries to signup and uses their platform.
However, some excluded countries include Singapore, China, North Korea, Iran, Russia, and the USA.
For a complete list of countries accepted at Binance, see our Kucoin VS Binance review.
Who can trade on Bybit?
Bybit offers its 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, and Syria.
Binance VS ByBit Markets Supported
In the table below, we have listed all the futures and perpetuals markets from Binance and Bybit.
Binance VS ByBit Deposits and Withdrawals
In the table below, we have listed Binance VS Bybit deposit and withdrawal methods. In addition, you can easily compare the fees.
What is Binance VS Bybit 3th party deposits method?
Both Binance and Bybit are offering 3rd party deposit options. Here, you will get a few alternatives to deposit via a 3rd party platform.
You will leave Binance.com or Bybit and be taken to another service, a separate platform owned by a third party. Read and agree to all the terms before using a 3rd party platform.
Supported 3rd party payments
- Simplex credit card (Binance and Bybit)
- BANXA card and bank transfer
In addition, both listed examples above support Apple Pay with Bybit.