Summary: Bybit is the better overall crypto trading platform for all non-US investors because they offer lower fees, more crypto assets and a futures trading platform. That said, their services are not available to US investors, which means that Coinbase will be your preferred destination.
Bybit and Coinbase Overview
Coinbase and Bybit are both cryptocurrency exchanges that allow users to buy, sell, and trade digital assets. However, there are some key differences between the two platforms.
Coinbase is a well-known and trusted exchange that is based in the United States. It is known for its user-friendly interface and easy-to-use features, making it a popular choice for beginners. Coinbase offers a wide range of cryptocurrencies for trading, including popular coins like Bitcoin, Ethereum, and 160 other cryptos. It also has a feature called Coinbase Pro, which is a more advanced platform for experienced traders.
Bybit is a newer exchange that was founded in 2018 and is based in Singapore. It is known for its high liquidity and low fees, which make it a popular choice for traders who are looking to execute large trades or who trade frequently. Bybit offers a variety of trading options, including spot trading and margin trading with up to 25x leverage on 300+ crypto assets.
Overall, Coinbase is a more established exchange that is suitable for beginners, while Bybit is geared more towards experienced traders who are looking for advanced trading features and low fees. It is worth noting that Bybit is not available in all countries, so it may not be an option for everyone.
Trading and Platform Fees
When it comes to trading fees, Bybit is the clear winner. Bybit charges a maximum flat trading fee of 0.075% per trade, while Coinbase charges between 0.5% and 4.5%. This means that Bybit is up to 50 times cheaper than Coinbase.
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.
Bybit has the clear advantage when it comes to the variety of cryptocurrencies that are supported. Bybit offers over 300 crypto assets, while Coinbase only offers 180 of popular crypto assets. This makes Bybit a better option for traders who want access to more obscure or niche coins.
It is important to note that Coinbase will generally be slower to list new cryptos than Bybit because they adhere to tighter regulatory standards being domiciled in the USA.
Bybit is the most feature-rich platform when it comes to crypto trading & investing. Some of the key products and services they offer include:
- Spot trading, futures trading & crypto options trading (25x leverage)
- 300+ cryptocurrencies & 100+ assets to stake
- An NFT Marketplace and NFT Wallet
- Multi-chain withdrawal support
- Support for 180+ countries (except USA)
Coinbase on the other-hand is more tailored toward institutional investors on review of their key products & services. Here is a list of their most popular features:
- Spot trading only and OTC for institutional investors
- 180+ cryptocurrencies and 30+ assets to stake
- NFT Marketplace and Coinbase Wallet
- Coinbase Pro for high-net worth investors
- IRA & 401K account support
- Support for 40+ countries (not available in all states)
Security and Regulation
Coinbase is a regulated exchange that is registered with the Financial Crimes Enforcement Network (FinCEN) in the United States and is licensed to operate in most states. It is also registered with several other regulatory agencies around the world, including the UK Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC).
Bybit is also a regulated exchange, but the specific regulations it operates under depend on the location of the user. Bybit is registered with the International Enterprise Singapore (IE Singapore), which is a government agency responsible for promoting international trade and helping businesses grow in Singapore. It is also registered with the British Virgin Islands Financial Services Commission (FSC), which regulates financial services in the British Virgin Islands.
Coinbase offers fewer fiat currency options and payment methods for deposit than Bybit. At time of writing, the primary deposit methods for Coinbase are Bank Transfer, Debit Card or Credit Card. Bybit, on the other hand, offers a wide range of payment methods for deposits, including bank transfers, debit cards, credit cards, Apple Pay, Google Pay, PayPal, SKRILL and many others.
Bybit and Coinbase are both great platforms for crypto trading & investing. They both offer different features to suit the needs of different types of investors. Coinbase is perfect for beginner investors or those who want to buy, sell and store cryptocurrencies in a secure and regulated environment. Bybit is better suited for more experienced traders and investors who are looking for more advanced trading tools & greater variety of cryptos. Ultimately, the decision of which platform to use will depend on the individual's investment goals and preferences.
A comparison of two major futures trading cryptocurrency exchanges, Bybit and Coinbase.