That doesn’t mean, however, that ByBit is worse - it just focuses on traders who prefer derivatives. The fee structure is more user-friendly, and the array of available trading assets is also wider. While the two exchanges are very similar in many ways, Binance seems to be a bit better. ByBit in terms of BTC withdrawal fees, the former is also better: the exchange charges 0.0001 against 0.0005 offered by ByBit.Īlso Read: Crypto Exchange India: General Overview For example, ByBit sets its min maker fee to 0.1%, and Binance charges you with just 0.012%. On September 30, 2021, derivative trades on Binance amounted to US58 billion, followed by Huobi Global with US19 billion, OKEx with almost US14. When it comes to fees and commissions, ByBit seems to be more expensive than Binance. However, this exchange allows you to use a much riskier strategy since the leverage can go all the way to 1:100. Founded in 2018, ByBit offers its users a wide range of derivatives and cryptocurrencies, including BTC, XRP, ETH, and many others, but the array is not that impressive, after all.
#BYBIT VS BINANCE FEES VERIFICATION#
The leverage is limited to 1:10, and the platform requires verification to trade: you won’t be able to withdraw more than 2 BTC without verification.īyBit is a relatively new face on the crypto market. However, Binance seems to be rather conservative in terms of trading conditions. The array of trading assets is also impressive: Binance allows you to choose from about 400 cryptocurrencies, and it has its own native BNB coin that is used to further reduce the commissions. It has extremely high liquidity, and that allows the exchange to offer very low fees compared to other platforms. In this article, we’re going to explain which of the ByBit trading options are really worth your time and then answer the question: should you choose it over Binance or not?īinance is probably the most well-known crypto exchange in the world.
However, there are many decent competitors like ByBit which may offer their users rather interesting and rare features. In most cases, that just means signing up for Binance, the leading exchange in terms of daily trading volume. Many newcomers to the market tend to choose the most reputable and huge exchanges without thinking too much about other options. In this article, we’re going to compare Binance and ByBit to determine which one will be a better choice for a novice crypto trader. But if you have enough patience, you can find other exchanges with more interesting options like ByBit. They just look for the most popular one, and so many of them end up on platforms like Binance. Many novice traders on the crypto market don’t think twice about choosing an exchange. Huobi Global isn’t far behind, with a volume of over 12 billion. With a combined daily trading volume of over 80 billion, Binance is the biggest crypto derivatives platform in the world.
Binance and Huobi are two of the most popular cryptocurrency exchanges in the world.
#BYBIT VS BINANCE FEES FREE#
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