MEXC VS Bybit - trading fees - legit trading sites - a trader vs another trader

MEXC VS Bybit – Trading Fees – USA – Security

MEXC vs. Bybit Summary

  • MEXC Global has lower spot trading fees and lower futures trading fees than Bybit.
  • MEXC and Bybit are restricted for USA traders. Still, MEXC has the most generous non-KYC withdrawal limits.
  • Bybit has higher publicly available security measures than MEXC.
  • Bybit has more trading volume and more listed futures but not more perpetuals and spot markets.

MEXC vs. Bybit Trading Fees

A percentage symbol for the lowest crypto futures trading fees
  • MEXC has free crypto spot trading. Reduce the MEXC spot trading fees with 20% by paying with MX tokens.
  • MEXC charges 0.01% for crypto maker futures trading fees. 
  • MEXC charges 0.05% for crypto taker futures trading fees.
  • On MEXC, you can reduce your trading fees by 50% if you hold 1000 MX tokens and 10% if you pay the futures trading fees with the MX token.
  • Both MEXC and Bybit has VIP tier trading fee system.
In the table below, you find the VIP0 tier level trading fees.

MEXC VS Bybit Restricted Countries

World Globe accepted and restricted countries

As you can read in the next section, MEXC Global has a generous approach for non-KYC customers. Still, both MEXC Global and Bybit officially restrict certain countries since they don’t hold licenes to operate in these countries. 

Bybit restricted countries: United States, mainland China, Singapore, Canada, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine (currently including the Crimea, Donetsk, and Luhansk regions), Syria.

MEXC prohibited countries:  North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Singapore, Venezuela, the United States, and Canada.

MEXC VS Bybit Non-KYC Limits

Iris scan for ID and Non KYC withdrawal limits on exchanges

The general procedure for personal KYC on crypto exchanges are:

  • Non-KYC: Register with an email
  • KYC 1: National ID and Proof of address
  • KYC 2: Selfie 
MEXC Global is known for allow relative large withdrawals for non-KYC accounts. Read the entire cover of non-KYC crypto exchanges and withdrawal limits.

MEXC VS Bybit Security – Are they Legit?

Bybit Security

  • Coingecko: 10
  • Coinmarketcap: 7.3
  • Google Play. 4.4
  • App Store: 4.5
  • Trustpilot: 2.4
  • Launched: 2018
  • Proof-of-reserves: Yes
  • Cold storage: User funds are stored securely offline in cold wallets.
  • Hack Incident: Bybit has never been hacked
  • Regulation: Bybit is not regulated in any specific region but has mandatory KYC and works closely with regulatory bodies and institutions worldwide to fight cybercrime.
  • Insurance Fund: Bybit maintains an insurance fund to cover the excessive losses caused by liquidated positions that are closed at worse-than-bankruptcy prices.

MEXC Global Security

  • Coingecko: 9
  • Coinmarketcap: 5.8
  • Google Play. 4.2
  • App Store: 4
  • Trustpilot: 2
  • Launched: 2018
  • Proof-of-reserves: Yes
  • Cold storage:  MEXC holds most users’ funds in a cold wallet.
  • Hack Incident:  The MEXC exchange has never been hacked.
  • Regulation:  MEXC has a presence over and across major continents and jurisdictions around the globe and is regulated, directly or through affiliates, by some of the world’s most renowned jurisdictions.
  • Insurance Fund: MEXC has an insurance fund.

MEXC VS Bybit Deposits and Withdrawals

  • SEPA: The best option for all EU countries depositing in EUR. Both fast (sometimes instant) and often free or very low cost.
  • P2P: The peer-to-peer method is preferable if you live in a country where it’s hard to access Bitcoin via traditional deposit channels. Also, it can be an excellent way to use a gift card or an account balance in an odd e-wallet. Often limited volume and premium exchange prices.
  • CARD: Credit/Debit card like VISA or Mastercard. 
  • 3rd PARTY: Often Simplex, Banxa, Moonpay, Mercuryo. These companies might offer convenient deposit or withdrawal methods, but be careful with the fees. Fees tend to be very high with 3rd parties involved.

Read more about fiat deposit alternatives to crypto exchanges.

MEXC VS Bybit Markets and Volume

  • Spot markets: The number of spot trading markets available to trade on the exchange
  • Coins: The total number of cryptocurrencies supported. One cryptocurrency can have several markets (BTC/ETH, BTC/BNB, BTC/USDT etc)
  • Futures: The number of listed futures.
  • Perpetuals: The number of listed perpetual trading contracts.
  • 24H spot volume: Trading volume for 24H in million dollars.
  • 24H Derivatives: The trading volume in the derivative market during a 24H period.

MEXC VS Bybit P2P Trading

MEXC and Bybit charge no fees for P2P trading on their platforms. Still, there might be fees associated with the payment method you are using.
  • MEXC P2P trading fiat currencies: Vietnamese đồng(VND), Russian ruble(RUB), South Korean won(KRW)

MEXC VS Bybit Payment Card

Bybit Card information

  1. Foreign exchange fee: 0.5% (on top of Mastercard’s foreign exchange rate)
  2. Crypto conversion fee: 0.9% (on top of Spot fees)
 

MEXC Card information

  1. The top-up fee is 1%.
  2. The single transaction limit is 3,000 USDT; the monthly transaction limit is 30,000 USDT; the card capacity is 100,000 USDT.
  3. The transaction fee is 0 within the EEA area and 2% out of the EEA areas (0.60 EUR minimal per transaction).
 

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