Summary: Bybit surpasses Binance as a crypto exchange due to its lower fees, higher leverage on futures trading, and no KYC requirements for registration. Unlike Binance's 0.1% trading fee, Bybit offers a 0.025% rebate for makers, effectively paying you for Maker Orders. Additionally, Bybit provides better leverage options and a more straightforward signup process. Overall, Bybit's offerings make it a preferable choice for many traders.
- Trade over 700 Cryptos with up to 100x leverage on Bybit.
- The Bybit Spot and Futures trading fees are lower than Binance starting at 0.01%.
- No KYC or Identity Verification required to sign up on Bybit.
Bybit and Binance Comparison
Among the numerous cryptocurrency exchanges on the global scene, Bybit and Binance stand out as two major players. This comparative analysis explores these platforms in terms of fees, leverage, liquidity, available markets, and other features to determine which one emerges superior.
The comparison below outlines key attributes of Bybit and Binance.
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|---|---|---|
| Trading Fees | 0.1% Maker | 0.1% Taker | -0.025% Maker | 0.075% Taker |
| Platform Features | 20x Leverage, Futures, Spot Markets, Crypto Staking, NFT Marketplace | 50x Leverage, Futures, Spot Markets, Staking, IDO Launchpads |
| Available Cryptos | 300+ | 200+ |
| Year Founded | 2016 | 2017 |
| Available for USA | Yes | No |
| Deposit Methods | Cryptocurrency, Bank Transfer, Debit or Credit Card, PayPal and more | Cryptocurrency, Debit or Credit Card, Bank Transfer, Bank Wire and more |
| Overall Rating |  |
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| Visit Website | Binance Futures | Bybit |
Trading Fees
Bybit offers competitive trading fees at a 0.075% taker fee and a rebate of 0.025% for makers. Comparatively, Binance levies a 0.1% taker fee and a 0.075% maker fee. This means traders on Bybit can earn a rebate on their limit orders, such as earning $25 on a filled $10,000 limit order due to the 0.025% maker rebate.
Leverage Trading
While Binance once offered 125x leverage, regulatory constraints have seen it pull back to 25x. On the contrary, Bybit provides up to 50x leverage on crypto futures, giving it a slight edge in utility for small players looking to increase their leverage.
In terms of margin requirements, Bybit necessitates a 10% initial margin and a 5% maintenance margin. Binance requires a more significant initial margin of 20% and a 10% maintenance margin.
Bybit and Binance Futures
Binance and Bybit both offer excellent futures trading platforms. Binance edges out with a wider range of tradeable cryptocurrencies and deeper liquidity, leading to better execution and reduced slippage. However, Bybit comes out cheaper for futures trading, charging a 0.075% taker fee and providing a 0.025% rebate for makers, while Binance charges a 0.1% fee with no rebates.
Crypto Staking Options
Bybit and Binance both have extensive cryptocurrency staking options for their users. They offer a relatively similar group of cryptocurrencies to stake that includes Bitcoin, Ethereum, Stablecoins, Layer 1's like AVAX and Solana and other PoS tokens.
Bybit does seem to pay out slightly higher interest in their awards, which could indicate that Binance takes a larger fee from stakers.
NFT Marketplaces
Binance and Bybit both offer NFT Marketplaces that allow their users to trade stablecoins, Bitcoin and ETH for non-fungible tokens. Both platforms have relatively limited diversity of NFT's because the large bulk get minted on popular NFT marketplaces like OpenSea or Rarible. With that said, there is still a vibrant community around the Bybit and Binance NFT scene and is worth further investigation if you're interested in NFT Markets.
Final Thoughts
When considering trading fees, leverage, liquidity, and available markets, Bybit takes the lead. However, Binance shines in terms of cryptocurrency variety and liquidity, offering a safer overall trading environment. Both platforms have their merits, and the choice comes down to individual trader preferences and requirements.
For more detailed insights on these platforms, refer to our in-depth reviews: Bybit Review and Binance Review.
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
