Binance and Bybit are crypto exchanges that provide buying and selling options resembling instantaneous purchase/promote crypto, leverage buying and selling, and staking providers.
Binance is one of the best alternate for high-volume merchants, boasting the very best world buying and selling quantity at round $50 billion each day and supporting over 400 cryptocurrencies with a most leverage of 125x. Bybit is greatest for derivatives merchants, primarily specializing in crypto derivatives with a most leverage of 100x, supporting over 1,600 cryptocurrencies, and providing superior buying and selling instruments greatest for futures and choices markets.
The important thing options of Binance are spot buying and selling, futures buying and selling, choices buying and selling, staking, NFTs, margin buying and selling, and the SAFU fund. The important thing options of Bybit are spot buying and selling, a sophisticated derivatives market, buying and selling bots, staking providers, and no-KYC withdrawal.
On this Binance vs. Bybit comparability, we are going to examine each crypto exchanges based mostly on their greatest options, buying and selling charge constructions, safety and regulatory ranges, and buyer assist high quality. Finally, we can even resolve which alternate you must use.
Binance vs Bybit: Overview Comparability
Binance is greatest for high-volume merchants, whereas Bybit primarily focuses on crypto derivatives buying and selling. Binance gives the next most leverage of 125x in comparison with Bybit’s 100x, whereas Bybit at present provides buying and selling for over 1600 cash in comparison with Binance’s 400 solely.
Binance enforces necessary KYC for all customers and will increase safety with its SAFU insurance coverage fund, which is price over $1 billion. However, Bybit provides extra flexibility with optionally available KYC for withdrawals.
BinanceBybitLaunched Yr20172018HeadquartersNo official HQDubai, UAESupported International locations180+160+Cryptocurrencies400+1,600+Buying and selling Quantity (24h)Highest globally (~$50B/each day)Excessive (~$20B/day)Buying and selling Charges0.1% (maker/taker, tiered reductions)0.1% (maker/taker, tiered reductions)Most Leverage125x100xSafety OptionsSAFU fund, 2FA, chilly storage, anti-phishing code, handle whitelistingChilly wallets, 2FA, anti-phishing code, handle whitelisting, PoRRegulatory StandingLicensed 22+ international locationsLicensed in Dubai, India, and many others.Merchandise/ProvidersSpot, futures, staking, NFTs, earn, margin buying and selling, and extraSpot, futures, staking, copy buying and selling, choices, liquidity swimming pools, buying and selling bots, and extraKYC NecessitiesNecessaryWithdraw as much as 20,000 USDT each dayFee StrategiesBank cards, debit playing cards, financial institution transfers, P2P buying and selling, and third-party providers like Apple Pay and Google PayFinancial institution playing cards (Visa, Mastercard, JCB), Google Pay, Apple Pay, SEPA, Simple Financial institution Fee, Zen.com, iDEAL, and extraCell AppSureSure
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Binance vs. Bybit: What Are Their Finest Options?
The most effective options of Binance are excessive buying and selling quantity, fiat deposit and withdrawal assist (40+ currencies), superior buying and selling instruments (125x leverage futures), a built-in NFT market, staking and incomes choices, a P2P buying and selling platform, and strong safety measures (SAFU fund).
The most effective options of Bybit are derivatives buying and selling, huge coin selection (1600+ cash), no-KYC crypto withdrawals (as much as 20,000 USDT each day), copy buying and selling with 800,000+ grasp merchants, quick execution speeds, user-friendly interface, and superior order sorts.
Binance vs Bybit: What Are Their Charge Buildings?
The charge constructions of Bybit and Binance are that each cost 0.1% for maker and taker spot charges, with tiered reductions obtainable based mostly in your buying and selling quantity. Each exchanges have variable futures charges, zero deposit charges, and variable withdrawal charges.
Let’s examine intimately:
Futures Buying and selling Charges: Bybit vs Binance
Bybit’s futures buying and selling charges will rely upon whether or not you’re a maker or a taker. The alternate units a maker charge of 0.02% and a taker charge of 0.055% for normal new customers buying and selling each perpetual and futures contracts.
A maker means it is going to add liquidity by putting a restrict order that doesn’t fill instantly, whereas a taker typically removes liquidity by filling an current order. Bybit’s charges additionally drop as your buying and selling quantity will increase – like VIP 5 customers, who pay solely round 0.01% maker charges and 0.032% taker charges in the event that they commerce over $250 million within the final 30 days.
The platform additionally features a funding charge on your perpetual contract trades, which you pay or obtain each 8 hours to maintain the costs near the spot market.
Listed here are the complete Bybit buying and selling charges:
Binance has decrease futures buying and selling taker charges in comparison with Bybit. The alternate will cost you a maker charge of 0.02% and a taker charge of 0.05% for brand spanking new customers on each your USDT-M and Coin-M futures contracts. Just like Bybit, Binance additionally provides charge reductions based mostly on buying and selling quantity.
You too can pay Binance buying and selling charges with its native token, BNB, and simply get a ten% low cost, which can scale back the maker charge to 0.018% and the taker charge to 0.045%.
Deposit charges
Bybit maintains deposit expenses which can be minimal and interesting to customers. The alternate doesn’t incur any expenses for cryptocurrency deposits resembling BTC, ETH, or USDT. You’ll be able to switch crypto to your Bybit pockets with out extra expenses from the platform, though blockchain community expenses (resembling gasoline charges for Ethereum) nonetheless exist and are based mostly on the coin and community visitors.
Bybit additionally accepts fiat deposits through third-party suppliers resembling Banxa or MoonPay, although with charges charged by the suppliers – normally 1% to three% – and never Bybit.
Binance additionally makes use of the identical strategy for crypto deposits. It doesn’t cost any charges for depositing cryptocurrencies like BTC, ETH, or USDT, although community charges do apply relying on the blockchain.
Binance is exclusive in that it gives free financial institution deposits for fiat currencies like USD, EUR, and AUD in most eventualities. However, there are specific fiat strategies – resembling bank card deposits – that may cost as much as 1.8% or larger in charges based mostly on the cost supplier and placement.
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Withdrawal Charges
Bybit applies dynamic withdrawal charges on your cryptocurrencies, that means that they might change over time based mostly on community situations. The alternate doesn’t set a set charge by itself however passes on the community value to customers. F
For instance, your BTC withdrawal on the Bitcoin community will value you round 0.0002 BTC, and the identical ETH could possibly be round 0.0015 ETH. And, Bybit additionally doesn’t add additional platform charges on high of this. Fiat withdrawals aren’t immediately supported on Bybit, as you’d have to convert your fiat to crypto first or use a third-party service, which can, in fact, add prices.
Binance additionally ties its withdrawal charges to community prices, however we observed that it tends to supply decrease charges. The alternate expenses 0.0001 BTC for Bitcoin withdrawals and 0.001 ETH for Ethereum. These are less expensive than Bybit’s charges.
Additionally, Binance adjusts these charges commonly to match blockchain situations, and just like Bybit, it doesn’t add additional platform charges. It additionally helps financial institution transfers with withdrawal charges as little as $0 for some currencies (like AUD), or it’s worthwhile to pay as much as $15 for others (like USD), however it additionally will depend on the strategy and area.
Binance vs. Bybit: What Are Their Safety and Regulatory Ranges?
Binance and Bybit are extremely safe exchanges with measures resembling anti-phishing code, withdrawal handle whitelisting, PoR information, 2FA, and chilly storage.
Anti-phishing code: Binance gives you with a person anti-phishing code as a way to simply examine and confirm genuine emails coming from the positioning. You need to use this code to detect phishing scams in order that solely official messages from Binance cross by to your inbox. Bybit additionally provides the identical anti-phishing code function. Withdrawal handle whitelisting: You’ll be able to arrange and confirm a listing of solely pockets addresses which can be allowed for withdrawals. Then, the alternate will restrict transfers to solely these pre-configured addresses and stop unauthorized transfers in case your account is hacked. Bybit gives the identical system, the place you’ll be able to equally prohibit the place your cash goes.Proof of Reserves (PoR) data: Binance publishes PoR experiences to show that it has enough belongings to cowl person funds 1:1. This sort of transparency signifies that the alternate just isn’t utilizing your cash elsewhere like FTX. Bybit additionally publishes PoR data with the identical 1:1 reserve ratio.Two-factor authentication (2FA): Binance mandates you to activate 2FA for all of your logins and withdrawals. You’ll be able to make the most of strategies resembling SMS codes or some authenticator apps. This extra layer requires hackers to have greater than your password with the intention to achieve entry to your alternate funds. Bybit additionally provides 2FA.Chilly storage: Binance shops round 90% of its person belongings in chilly wallets; these are typically offline storage methods and protected against on-line assaults. Bybit additionally holds most funds in its chilly storage wallets as properly, however its $1.4 billion hack in February 2025 revealed weaknesses in dealing with your belongings throughout transfers.
Binance SAFU Fund
Binance launched its Safe Asset Fund for Customers (SAFU) in July 2018. The alternate typically units apart 10% of buying and selling charges, and now, this fund has grown to $1 billion.
Bybit $1.4B Hack
Lately, Bybit skilled a large $1.4 billion hack on February 21, 2025. The hackers, recognized as a North Korean group, stole over 400,000 ETH from a multi-sig chilly pockets by manipulating person interplay code. Bybit took out $1.12 billion in bridge loans to cowl 80% of the loss funds, however it doesn’t have a fund resembling SAFU, so that you’re much less coated.
Regulatory Ranges in Totally different International locations
Binance secures licenses in 22 jurisdictions globally. The alternate at present operates legally in international locations like France, Dubai, Lithuania, Australia, and Ukraine.
Bybit additionally holds some regulatory approvals, however only a few. The alternate is registered as a Virtual Asset Service Supplier in Dubai and can also be registered with FIU in India. France eliminated Bybit from its blacklist in February 2025 after talks with the AMF, hinting at a future MiCA license within the EU, however we will say it nonetheless lags means behind Binance.
Binance vs. Bybit: What Is Their Buyer Help High quality?
Binance gives you with some stable buyer assist. It contains 24/7 stay chat, e-mail help, and a complete assist heart with tutorials so that you can help in any troublesome conditions. You too can contact them both utilizing the Binance web site or app, and so they typically reply inside hours; in fact, some sophisticated conditions could take longer.
Bybit additionally provides you an identical 24/7 assist association. It has stay chat, e-mail, and a assist heart, together with lively social media accounts resembling Twitter and Telegram.
Binance will get combined suggestions from you on platforms like Reddit and Quora. A Reddit person mentioned, “I’ve no issues with Binance. Primarily, the opposite exchanges will not be nice.”
One other person quoted, “My withdrawals have been disabled for over 30 days, and regardless of a number of makes an attempt to contact assist, I preserve getting generic responses with no actual answer.”
Bybit receives assorted critiques, too. A Quora person mentioned, “Keep away from Bybit P2P in any respect value! Their assist is zero! They don’t care about their prospects.”
Be aware: Each Binance and Bybit are good at buyer help, with some optimistic and unfavorable person critiques.
Binance vs Bybit: Which Change Ought to You Use?
Binance is greatest fitted to customers:
Who desires fiat deposits and withdrawals: Binance helps over 40 fiat currencies. You’ll be able to deposit fiat resembling USD, EUR, and GBP through financial institution transfers and playing cards. It’s a very handy alternate for you when you want straightforward fiat-to-crypto conversions. The alternate is ideal when you don’t have crypto and need to purchase it utilizing your conventional currencies.Who desires excessive buying and selling quantity and liquidity: Binance has the very best liquidity within the business. At present, it serves over 246 million customers globally. Therefore, it’s nice for merchants who really want excessive liquidity to keep away from worth slippage. Additionally, this makes the alternate a best choice for day merchants or scalpers.Who desires superior buying and selling options: Binance has superior instruments like 125x leverage futures, margin buying and selling, and buying and selling bots. It has a variety of buying and selling choices for knowledgeable merchants.Who desires a built-in NFT market: Binance has a really well-established NFT platform that at present helps a number of blockchains just like Opensea. It’s excellent for you if you wish to purchase, promote, or commerce NFTs additionally alongside your common crypto buying and selling.
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Bybit is greatest fitted to customers:
Who desires superior derivatives buying and selling: Bybit is understood for crypto derivatives buying and selling with options like futures, choices, margin buying and selling, and leveraged tokens. It provides all of the superior options, together with superior order sorts, excessive leverage, a quick matching engine, and extra.Who desires 1600+ cash for buying and selling: Bybit helps over 1,600 cryptocurrencies, way over Binance’s 400. It’s nice for customers who need entry to an enormous number of cash, together with area of interest tokens and lots of new altcoins that you will note solely on DEXes.Who desires no-KYC crypto withdrawals: The Bybit cryptocurrency alternate permits withdrawals of as much as 20,000 USDT each day with out KYC verification. So, if you’re a privacy-focused person, Bybit is greatest for you.Who desires crypto copy buying and selling: Bybit’s copy buying and selling function could be very superior and has over 800,000 grasp merchants. It’s wonderful for learners who need to mirror others’ methods and even need to study some new buying and selling methods.
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Binance Professionals and Cons
Binance Professionals
The professionals of Binance are a variety of supported cryptocurrencies, low buying and selling charges, excessive quantity and liquidity, superior buying and selling options, and robust safety.
Big selection of cash: Binance helps over 400 cryptocurrencies for spot buying and selling and 100+ perpetual derivatives contracts. You’ll be able to decide from all in style cash like Bitcoin, Ethereum and different smaller altcoins.Low buying and selling charges: Binance expenses solely 0.1% for spot buying and selling and 0.02% maker/0.05% taker charges for futures. These are low prices in comparison with different exchanges, and also you additionally get a 25% low cost utilizing BNB.Excessive liquidity: At present, Binance handles over $50 billion in each day buying and selling quantity. This implies the alternate is very liquid, and there’s zero worth slippage.A number of options: Binance provides staking, NFT buying and selling, launchpad, and even has its personal blockchain, BNB Sensible Chain. You too can commerce choices contracts with weekly, month-to-month, or quarterly expiry.Robust safety: Binance is a extremely secure crypto alternate, and it has the SAFU fund, 2FA, and chilly storage for many belongings.
Binance Cons
The Cons of Binance are regulatory points in the USA, and necessary KYC measures could also be restrictive for privacy-focused customers.
Regulatory challenges: Binance faces regulatory points in international locations just like the U.S., the place it has to supply a separate Binance.US alternate with fewer options, and it doesn’t supply futures, margin buying and selling, and choices buying and selling.Necessary KYC: Binance has strict KYC verification for each person upon sign-up. That is time-consuming and in addition restrictive relative to Bybit’s no-KYC function for as much as 20,000 USDT of each day withdrawals.
Bybit Professionals and Cons
Bybit Professionals
The professionals of Bybit are high-leverage spinoff buying and selling, easy interface, no-KYC crypto withdrawals, quick order matching engine, and duplicate buying and selling.
Excessive leverage: Bybit provides as much as 100x leverage in your futures cash. This lets expert merchants amplify income, making it a high decide for risk-takers. It additionally has a sophisticated derivatives market that features choices, futures, margin buying and selling, and leveraged tokens.Easy interface: Bybit’s buying and selling platform could be very clear and straightforward to make use of, even for learners. There’s additionally a cellular app so that you can commerce on the go.No KYC for small withdrawals: You’ll be able to withdraw as much as 20,000 USDT each day with out your ID verification. However, do not forget that it’s worthwhile to full KYC for buying and selling or deposits.Quick execution: Bybit has a 99.99% server uptime and in addition fast order processing. So, there’s a zero worth slippage when shopping for crypto on the alternate.Copy buying and selling: Bybit helps copying trades from 800,000 grasp merchants. This function is actually useful for newbies who can study from execs, one thing Binance additionally provides however not as superior as Bybit.
Bybit Cons
The cons of Bybit are hacking points, with a current $1.4B hack and excessive crypto withdrawal charges.
$1.4B hack: Bybit just lately confronted a safety breach from North Korean hackers, leading to $1.4 B stolen funds. This hack was carried out on the Bybit multi-sig chilly pockets.Excessive withdrawal charges: Bybit expenses excessive withdrawal community charges in comparison with different exchanges like Binance. This can be referred to as a hidden charge.
