Bitget vs Bybit: Who Is The King Of Crypto Trading? 👑
Jack Moreau
Sep 2023
7 min read
Fact checked
Are you a crypto trader looking for the best exchange to maximize your profits? With so many options available, it can be overwhelming to choose. That's why we have compared two popular exchanges, Bitget vs Bybit. Our in-depth analysis covers everything from the features they offer to the trading fees that they are charging. By the end, you'll have all the information you need to make an informed decision on which exchange is right for you!
If you're looking for a reliable and secure cryptocurrency trading platform, you may have come across both Bitget and Bybit.
Both platforms offer a range of features and services to help you trade cryptocurrencies, but which one is the better choice for you? Let's take a closer look at Bitget vs Bybit.
Bitget was founded in 2018 and is registered in Seychelles with headquarters in Singapore. With over 1000 employees and support for over 100 countries, Bitget has become a popular choice for cryptocurrency traders around the world.
Bitget Exchange
Bitget is licensed by FinCEN, MSB in the US and Canada, and MAS in Singapore, ensuring that the platform is compliant with all relevant regulations.
The platform offers a range of trading products, including spot trading, margin trading, futures trading, and options trading.
Bitget app
Bybit was founded in 2018 and is based in Singapore and has 1000 employees and in over 200 countries.
Bybit has quickly become a major player in the cryptocurrency trading space by offering a range of trading products, including perpetual contracts, futures trading, and spot trading.
Bybit exchange
When it comes to the number of cryptocurrencies available, Bybit offers over 350 cryptocurrencies while Bitget offers over 450. In terms of user base, Bitget has over 8 million users while Bybit has over 10 million users. Both platforms have a large and active community of traders with many positive reviews.
In terms of app downloads, Bitget has 1 million downloads with a 3.2-star rating based on 10,000 reviews, while Bybit has 5 million downloads with a 4.1-star rating based on 50,000 reviews. Both platforms offer mobile apps for both iOS and Android, allowing traders to stay up-to-date with their trades on-the-go.
Bybit app
Bitget vs Bybit: Signup & KYC
Bitget and Bybit are two cryptocurrency exchanges that require only require KYC verification for certain features. Here's what you need to know about each one.
Bitget requires KYC verification for all users who want to buy or deposit fiat currencies. However, you can still trade cryptocurrencies without KYC verification.
The signup process is easy and only requires an email and password. For those that want you complete the KYC verification for Bitget, it usually takes 5-10 minutes to complete and in worst cases up to 24 hours.
Bitget signup & KYC
Creating an account on Bybit is also very easy, simply register with your phone number or email and you can deposit cryptocurrencies and start trading right away.
Bybit signup process
However, if you want to participate in earn, one click fiat buy or do fiat deposits, you will need to complete the KYC verification process. This usually takes around 10 minutes, but can take up to 48 hours in some cases due to the complexity of information verification.
Bybit KYC
Bitget vs Bybit: Products & Services
When it comes to cryptocurrency exchanges, Bitget and Bybit are two names that have been making waves in the trading world.
Both offer a range of trading services such as spot, futures, margin, perps, and options. Additionally, they have other features such as copy trading, trading bots, staking, lend & borrow, and more. But when it comes down to the nitty-gritty, which one offers the best value?
Let's start with Bitget which is a multifaceted cryptocurrency platform offering a wide array of services to meet the diverse needs of crypto traders.
Its primary trading services includes spot and futures trading, supplemented by advanced features like margin and copy trading, which allows users to replicate the strategies of successful traders.
Bitget spot trading
Bitget's leverage is extensive, providing 3X for cross margin and up to 10X for isolated margin, ensuring flexibility for traders across different risk profiles.
In terms of futures trading, Bitget provides an impressive maximum leverage of 125x, which is geared towards experienced traders looking for high-risk, high-reward strategies.
Bitget futures trading
Aside from its core trading offerings, Bitget provides an assortment of additional products that expand the platform's utility.
These include staking, earn products, trading bots, and peer-to-peer (P2P) trading. Significantly, Bitget also maintains a 'proof of reserves' policy, adding an extra layer of transparency and trust for its users.
Bitget earn products
In terms of user experience, Bitget is well-received for its intuitive and user-friendly interface, akin to popular platforms like Bybit, KuCoin, and OKX. It successfully delivers a wide range of products and services without overwhelming users, allowing for easy navigation and efficient operation.
Bitget savings
Bitget also boasts strong market liquidity, as evidenced by its substantial average daily spot trading volume which often exceeds $500 million. This robust liquidity profile contributes to an efficient and reliable trading environment, reducing slippage and ensuring seamless transaction execution.
Bitget cryptocurrencies
This exchange has an average daily spot trading volume over $390 million, and offers 125X leverage in both cross and isolated positions, with 3X for cross margin and 10X for isolated margin.
The user experience on Bitget is quite nice, offering quite a few products and services without overwhelming the user. The website is similar to Bybit, Kucoin, and OKX, making it easy to navigate for those who are already familiar with those platforms.
Bybit cryptocurrency markets
Now, let's move on to Bybit which offers a comprehensive cryptocurrency platform with a wide array of trading services and financial solutions. Its trading products include spot trading, futures, margin trading with up to 5x leverage and perpetual swaps.
Bybit spot trading
It further provides options, leveraged tokens, and trading bots, thereby accommodating both automation and custom trading strategies.
Bybit derivatives trading
Bybit also offers a copy trading feature, enabling users to mimic the transactions of successful traders, thus simplifying trading for beginners and providing learning opportunities.
Bybit copy trading
In addition to trading services, Bybit features financial services like lending and borrowing. It also hosts an NFT marketplace for buying and selling Non-Fungible Tokens, expanding the scope of digital asset exchange.
Bybit NFT marketplace
Another notable feature is the Bybit card, designed to let users seamlessly use their digital assets in routine transactions.
Bybit exchange card
With a user-friendly interface, Bybit manages to cater to the requirements of professional traders while maintaining simplicity for novice users. The platform enjoys a strong liquidity profile, consistently ranking among the top 10 in the market, with daily spot trading volumes often surpassing $1 billion.
As for futures trading, Bybit provides maximum leverage of 100x, thus providing considerable flexibility for experienced traders.
The available collateral for margin trading includes USDC, USDT, BTC, and DAI. Overall, Bybit provides a robust and integrated solution for a wide range of crypto trading and financial needs.
Bybit derivatives offering
With an average daily spot trading volume over $360 million, Bybit offers 100X leverage in both cross and isolated positions, with 10X for margin leverage. Bybit also offers a great user experience with an interface that is intuitive and easy to use.
When comparing the trading fees of Bitget and Bybit, it's important to note that both offer competitive rates in the market. However, there are some differences that may make one more advantageous than the other.
Starting with Bitget Fees, this exchange charges a spot maker and taker fee of 0.10%, which is consistent with some of its competitors. Additionally, the futures maker fee of 0.02% and futures taker fee of 0.06% which is also very competitive.
Bitget spot fees
On the other hand, Bybit's spot maker and taker fees are also at 0.10%. However, the futures maker fee of 0.01% and taker fee of 0.06% are slightly lower than Bitget's rates. Bybit also offers margin trading with a fee of 0.10%.
Bybit trading fees
Overall, both Bitget and Bybit offer similar fees for spot and futures trading, as well as margin trading. However, Bybit has a slight advantage with lower futures maker fees.
That being said, traders should also consider other factors such as platform user-interface, security, liquidity, and customer support when determining which exchange is right for them.
When it comes to buying and depositing crypto, Bitget and Bybit offer different options and advantages.
Bitget supports over 40 fiat currencies for buying crypto with a credit/debit card and charges a 1-3% commission fee. Besides this, Bitget does not provide support for any type of fiat deposits.
Bitget buy crypto with card
On the other hand, Bybit offers support for over ten fiat currencies such as USD, EUR, GBP, RUB, TRY and others. They also offer multiple deposit methods such as bank transfer, SEPA, FPS, QiWI, and Advcash.
Bybit fiat deposit
Bybit also charges a fixed $8 deposit fee via wire transfer and cheaper options with traditional bank deposits. When it comes to fiat deposits, Bybit has a big advantage over Bitget which unfortunately does not offer support for any fiat currencies.
Bitget and Bybit offer different withdrawal options for their users. While Bitget only allows cryptocurrency withdrawals, Bybit supports fiat withdrawals for multiple fiat currencies including USD, EUR, GBP, RUB, BRL, TRY and others.
Bybit fiat withdrawals
For Bitget users, the withdrawal process is straightforward and the exchanges does not charge high crypto withdrawal fees. However, those who prefer the convenience of fiat withdrawals will have to look elsewhere.
Bybit on the other hand offers zero fee bank withdrawals for TRY and BRL, but users looking to withdraw USD via wire transfer will have to pay a steep $25 fee. And for those that wish to withdraw from Bybit with lower withdrawal fees, they offer multiple free to low cost methods such as Advcash, ZEN and free bank transfers.
Nevertheless, the option to withdraw fiat currencies is a significant advantage for those who want to sell their assets and return money to their bank accounts.
Determining whether Bitget is superior to Bybit largely hinges on the individual needs and preferences of each trader.
Both exchanges offer a wide range of products and services can cater to different trading styles including spot, futures and perps with 100X leverage.
In addition to a wide range of products, they also each offer over 400 cryptocurrencies that users can buy, sell, trade and earn with.
Trading fees are another crucial factor to consider as they can significantly influence profitability, especially for those who trade in high volumes.
Once more Bitget and Bybit offer very similar and equally compelling trading fees with low spot and futures fees with the option for lower fees for high volume degen traders.
The user interface and overall user experience of course also plays a significant role and once more, both Bitget and Bybit have done a great job producing modern interfaces that are easy even for beginners to navigate.
So which exchanges comes out on top? While this is a very close contest, we give the slight edge to Bybit as they offer a few more products than Bitget and a more beginner friendly platform overall.
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Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
