Introduction: Are you trying to decide between OKX vs Bybit but not sure which exchange to use? Worry not, we have compare OKX and Bybit across a number of categories like product range, KYC requirements, trading fees and much more to help you pick the best one!
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
Founded in 2017 by Star Xu, OKX has risen to become a prominent name in the cryptocurrency exchange landscape.
Registered in Seychelles and operating out of its headquarters in Hong Kong, OKX has built a strong team of over 1000 employees spread globally.
Bourse OKX
OKX is a multifaceted exchange that offers a variety of trading services, including spot, margin, perps (perpetual swaps), futures, and options trading.
But it's not just about trading. OKX stands out with a host of other services such as trading bots, demo & copy trading, and earn products.
With an impressive 20 million users from across the globe, OKXÂ has also made inroads into the mobile space with over 1 million app downloads.
Application OKX
Bybit on the other hand was founded in 2018 by Ben Zhou and has quickly grown into a dynamic cryptocurrency derivatives exchange.
Registered as Bybit Fintech Limited in the British Virgin Islands and headquartered in Singapore, the company has quickly expanded its operations with a team of over 1000 employees.
A defining aspect of Bybit is its focus on user experience. The platform has invested in a high-speed matching engine, ensuring minimal downtime and slippage for its users.
This has resulted in a seamless and reliable trading environment that's appreciated by its extensive user base.
Speaking of its user base, Bybit's reach is truly global extending to over 200 countries. Although service is restricted in a few regions such as the US, the UK, Singapore, Quebec, and Ontario, it has successfully amassed a solid user base of over 10 million, with a strong foothold in Europe and Asia.
Signing up for OKX is quick and easy and only takes a few minutes. KYC is not required by OKX and users can access certain features without it.
OKX niveau 1 KYC
For those that want to access the full range of features offered by OKX, the basic Level 1 verification process takes minutes and level 2 verification can a little longer.
Both level 1 and level 2 KYC on OKX requires users to provide personal information (level 1) and a valid government ID in Level 2.
Bybit's sign-up process is also straightforward and like OKX, users can begin trading without KYC verification. For users that want to access more products and services on Bybit, they will have to pass KYC.
Bybit signup process
The KYC verification process on Bybit takes about 10 minutes to complete in the best of cases but can take up to 48 hours in some cases.
Similar to OKX, Bybit also offers different tiers of KYC where depending on how much information that users are willing to provide, they get access to more features.
Bybit KYC verification
Basic KYC on Bybit provides access to higher withdrawal amounts while Lv1 and Lv2 KYC which requires a valid ID gives access to additional trading products.
In terms of liquidity, OKX exchange frequently records an impressive average daily spot trading volume, which ranges between $500 million and $1 billion.
OKX Cryptocurrencies
This not only indicates the platform's popularity but also ensures a smoother trading experience with fewer price slippages.
What makes OKX particularly user-friendly is its modern, easy-to-navigate interface, which, despite the wide array of products and services, ensures a seamless and enjoyable user experience.
It is designed to accommodate both novice and experienced traders, making it a favourite among many in the cryptocurrency community.
In just five years, Bybit has remarkably grown its user base and product offerings emerging as a major player in the crypto exchange world.
Bybit Product Offering
It's primarily targeted at retail users and professional traders, offering a diverse range of services. Despite the wide range of these offerings, Bybit stands out for its user-friendly interface which is straightforward enough for beginners to navigate.
The core service of Bybit is spot trading with support for a solid selection of over 450 cryptocurrencies.
Bybit Spot Trading
This includes a wide array of major coins like BTC, ETH and SOL and a generous assortment of more obscure and hard to find altcoins.
Bybit Crypto Markets
For traders interested in leveraged trading, Bybit offers up to 10X leverage in margin trading. This is ideal for those looking to either long or short assets.
Bybit Margin Trading
Additionally, Bybit has a unique offering of leveraged tokens where users can take up to 2X leverage on 30 cryptocurrencies, with the added benefit of no liquidation risk.
Bybit Leveraged Tokens
Bybit also caters to automated trading enthusiasts with a variety of trading bots. These bots support strategies like futures grid, futures martingale, spot grid, and DCA.
Bybit Trading Bots
Users can also access a range of pre-built strategies with historical track records, and engage in copy trading to emulate the moves of professional traders.
Bybit Copy Trading
The platform is strong in the futures trading sector where users can access over 180 perpetual contracts with up to 100X leverage.
Bybit Perpetual Trading
Its product range includes USDT perpetuals, inverse perpetual & futures, USDC perpetual & futures, and USDC Options.
Bybit Perpetual Products
Options traders have access to European-style cash-settled options priced in USDC. Bybit also provides flexibility in margin trading, offering both isolated and cross margin options.
Bybit Derivatives
Bybit’s market presence is significant with a top 10 for spot trading volumes with over $1 billion in 24 hour volume, and top 5 for derivatives trading with over $7 billion.
Bybit Trading Volumes
For those new to trading or looking to try new strategies, Bybit supports demo trading. This feature allows users to practice without financial risk.
On the financial side of things, users looking to earn on their digital assets can explore various options like lending, borrowing, liquidity mining, dual asset, and more, earning interest on cryptocurrencies including BTC, ETH, USDT, and USDC.
Bybit Earn
A unique offering from Bybit is its Master Card which bridges the gap between digital and real-world spending, offering up to 10% cashback.
Bybit Mastercard
The recent addition of NFTs with support for Ethereum, Polygon, Solana and BNBÂ Chain also adds another layer to its services.
NFT Bybit
Bybit also runs a launchpad for early-stage projects, where users can invest in new tokens by committing MNT or USDT tokens. Finally, for large-scale traders, Bybit offers an OTC desk for transactions up to $10 million.
Bybit OTC Desk
Overall, Bybit presents a comprehensive, robust, and user-friendly platform, catering to a wide range of trading preferences and needs in the cryptocurrency market.
OKX and Bybit offer some of the most competitive trading fees in the industry. For spot trading, OKX offers a maker fee of 0.8% and a taker fee of 0.1% while Bybit offers 0.1% for both makers and takers.
OKX spot fee
When it comes to futures trading, once again OKX and Bybit are evenly matched. OKX charges a futures maker fee of 0.02% and a taker fee of 0.05%, while Bybit charges a slightly lower maker fee of 0.01% and a slightly higher taker fee of 0.06%.
Bybit spot fees
Besides both OKX and Bybit offering very competitive fees for both spot and futures trading, they also both offer discounts to high volume traders. Users who trade over $1 million during a 30-day period will see their fees reduced on both OKX and Bybit.
Bybit, on the other hand, supports deposits in ten different fiat currencies, including USD, EUR, GBP, RUB, MXN, BRL, ARS, and TRY. Bank transfers such as SEPA and FPS are also accepted, with an $8 deposit fee via Wire Transfer and free bank transfers for other fiat currencies.
Bybit fiat deposit options
If you prefer using credit/debit cards, Bybit offers that option, too. But be aware that there is a 3.8% deposit fee for Visa and Mastercard purchases.
So, which exchange should you choose? It depends on your preferences. If you're keen to buy crypto with fiat, Bybit might be the better choice, as it offers a broader range of options.
If you're more comfortable buying crypto with a credit/debit card, OKX could work for you, as long as you're comfortable with the 1-2% fee.
Si vous tradez sur OKX ou Bybit, il est important de comprendre les options de retrait de fiats dont vous disposez.
While Bybit supports ten fiat withdrawal options such as USD, EUR, GBP, BRL, RUB and TRY, OKX does not offer any fiat withdrawal options at all. If you need to withdraw fiat currency, you'll have to use a different platform.
Bybit fiat withdrawal fees
For those using Bybit, it's worth noting that bank withdrawals are free for BRL and TRY, which is great news for traders in Brazil and Turkey.
However, the USD Wire Transfer fee is a bit steep at $25. Users on Bybit can also withdraw their EUR and GBP via SEPA and Faster Payments (FSP)Â for small commissions under 0.2%.
Needless to say, we are very big fans of both OKX and Bybit as they are seriously impressive exchanges with a wide range of products and services and incredibly low trading fees. In this case, we rather not pick a winner as we use and love both exchanges!
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
eToro USA LLC: Investments are subject to market risk. Including the possible loss of principal. Don’t invest unless you’re prepared to lose all the money you invest.
