When it comes to choosing a cryptocurrency exchange, there are many factors to consider. In this Bybit vs Coinbase comparison, we'll look at two of the most popular exchanges and compare their features, fees, and security.

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Is Bybit better than Coinbase?

Summary: Bybit is a much better platform to use for both beginners and expert traders as it has significantly lower fees, a wider selection of assets and more features available on the platform.

Please refer to the below table for a side-by-side comparison of the two cryptocurrency exchanges.

Bybit vs Coinbase Image
Beginner Friendly Image Image
Year Launched 2018 2012
Supported Devices Web, iOS & Android Web, iOS & Android
Cryptocurrencies 302 160
Trading Fees 0.01% - 0.05% 0.5% - 4.5%
Staking Options Multiple Options Available One Staking Option
Features Staking, Futures, Spot, Options, NFTs, Launchpad & Launchpool Spot Trading
Website Visit Bybit Visit Coinbase


Bybit vs Coinbase Trading Fees

When it comes to trading fees, Bybit is the clear winner. Bybit charges a flat trading fee of 0.02% per trade, while Coinbase charges between 0.5% and 4.5%. This means that Bybit is up to 50 times cheaper than Coinbase!

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Deposit and Withdrawal Fees

Coinbase also charges higher deposit and withdrawal fees than Bybit. For example, Coinbase charges a 1.49% fee for bank transfers, while Bybit only charges a 0.1% fee.


Supported Cryptocurrencies

Bybit currently supports a wider range of cryptocurrencies than Coinbase, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash and XRP. Coinbase currently only supports 160 cryptocurrencies on its platform whereas Bybit supports over 300.

Security, Licensing and Regulation

Both Bybit and Coinbase are licensed and regulated by the Financial Conduct Authority (FCA) in the UK. However, Bybit is also registered with the Singaporean MAS and has thus far been more compliant with regulations.

In addition, Bybit has been praised for its high-security measures, such as 2-factor authentication and cold storage. Coinbase has suffered several security breaches in the past and has not always been transparent about its security measures.


Staking Options

Bybit also offers staking options for many different cryptocurrencies, which allows users to earn rewards for holding their digital assets. Coinbase also offers staking options but only for 6 cryptos and at low APY (Annual Percentage Yield).

Deposit Methods

Bybit offers a variety of deposit methods, including bank transfer, credit/debit card and cryptocurrency. Coinbase only offers bank transfer and credit/debit card as deposit methods.

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Features

Bybit has more significantly more features than Coinbase, such as margin trading, derivatives trading, spot trading, options trading, multiple order types, staking, Launchpad and Launchpad projects.

Coinbase currently supports spot trading and staking.

Mobile App

Both Bybit and Coinbase have mobile app versions available for both Android and iOS. Please refer to the below photo for details of Bybits mobile app.

Customer Support

Both Bybit and Coinbase offer excellent customer support. However, Bybit’s customer support is available 24/7, while Coinbase’s customer support is only available during business hours (mon - fri, 9AM - 5PM).

Additional to this, Bybit support staff can also be reached 24/7 by Telegram, Discord, Twitter, Youtube, Instagram, Trust Pilot & Reddit.


Conclusion

Overall, Bybit is the better cryptocurrency exchange when compared to Coinbase. Bybit has lower trading fees, more supported cryptocurrencies, staking options and better customer support options. Coinbase only has lower deposit and withdrawal fees.

If you would like to read a comprehensive review on the cryptocurrency exchange Bybit, please visit our Bybit Review page.

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