Binance and Bybit are crypto exchanges that offer trading features such as instant buy/sell crypto, leverage trading, and staking services.
Binance is the best exchange for high-volume traders, boasting the highest global trading volume at around $50 billion daily and supporting over 400 cryptocurrencies with a maximum leverage of 125x. Bybit is best for derivatives traders, mainly focusing on crypto derivatives with a maximum leverage of 100x, supporting over 1,600 cryptocurrencies, and offering advanced trading tools best for futures and options markets.
The key features of Binance are spot trading, futures trading, options trading, staking, NFTs, margin trading, and the SAFU fund. The key features of Bybit are spot trading, an advanced derivatives market, trading bots, staking services, and no-KYC withdrawal.
In this Binance vs. Bybit comparison, we will compare both crypto exchanges based on their best features, trading fee structures, security and regulatory levels, and customer support quality. At last, we will also decide which exchange you should use.
Binance vs Bybit: Overview Comparison
Binance is best for high-volume traders, while Bybit mainly focuses on crypto derivatives trading. Binance provides a higher maximum leverage of 125x compared to Bybit’s 100x, whereas Bybit currently offers trading for over 1600 coins compared to Binance’s 400 only.
Binance enforces mandatory KYC for all users and increases security with its SAFU insurance fund, which is worth over $1 billion. On the other hand, Bybit offers more flexibility with optional KYC for withdrawals.
| Binance | Bybit | |
| Launched Year | 2017 | 2018 |
| Headquarters | No official HQ | Dubai, UAE |
| Supported Countries | 180+ | 160+ |
| Cryptocurrencies | 400+ | 1,600+ |
| Trading Volume (24h) | Highest globally (~$50B/daily) | High (~$20B/day) |
| Trading Fees | 0.1% (maker/taker, tiered discounts) | 0.1% (maker/taker, tiered discounts) |
| Maximum Leverage | 125x | 100x |
| Security Features | SAFU fund, 2FA, cold storage, anti-phishing code, address whitelisting | Cold wallets, 2FA, anti-phishing code, address whitelisting, PoR |
| Regulatory Status | Licensed 22+ countries | Licensed in Dubai, India, etc. |
| Products/Services | Spot, futures, staking, NFTs, earn, margin trading, and more | Spot, futures, staking, copy trading, options, liquidity pools, trading bots, and more |
| KYC Requirements | Mandatory | Withdraw up to 20,000 USDT daily |
| Payment Methods | Credit cards, debit cards, bank transfers, P2P trading, and third-party services like Apple Pay and Google Pay | Bank cards (Visa, Mastercard, JCB), Google Pay, Apple Pay, SEPA, Easy Bank Payment, Zen.com, iDEAL, and more |
| Mobile App | Yes | Yes |
Are you a new user? You can use our Binance referral code “” during registration to get a free $100 crypto sign-up bonus.
Binance vs. Bybit: What Are Their Best Features?
The best features of Binance are high trading volume, fiat deposit and withdrawal support (40+ currencies), advanced trading tools (125x leverage futures), a built-in NFT marketplace, staking and earning options, a P2P trading platform, and robust security measures (SAFU fund).
The best features of Bybit are derivatives trading, vast coin variety (1600+ coins), no-KYC crypto withdrawals (up to 20,000 USDT daily), copy trading with 800,000+ master traders, fast execution speeds, user-friendly interface, and advanced order types.
Binance vs Bybit: What Are Their Fee Structures?
The fee structures of Bybit and Binance are that both charge 0.1% for maker and taker spot fees, with tiered discounts available based on your trading volume. Both exchanges have variable futures fees, zero deposit fees, and variable withdrawal fees.
Let’s compare in detail:
Futures Trading Fees: Bybit vs Binance
Bybit’s futures trading fees will depend on whether you’re a maker or a taker. The exchange sets a maker fee of 0.02% and a taker fee of 0.055% for regular new users trading both perpetual and futures contracts.
A maker means it will add liquidity by placing a limit order that doesn’t fill immediately, while a taker generally removes liquidity by filling an existing order. Bybit’s fees also drop as your trading volume increases – like VIP 5 users, who pay only around 0.01% maker fees and 0.032% taker fees if they trade over $250 million in the last 30 days.
The platform also includes a funding fee for your perpetual contract trades, which you pay or receive every 8 hours to keep the prices close to the spot market.
Here are the full Bybit trading fees:
Binance has lower futures trading taker fees compared to Bybit. The exchange will charge you a maker fee of 0.02% and a taker fee of 0.05% for new users on both your USDT-M and Coin-M futures contracts. Similar to Bybit, Binance also offers fee discounts based on trading volume.
You can also pay Binance trading fees with its native token, BNB, and easily get a 10% discount, which will reduce the maker fee to 0.018% and the taker fee to 0.045%.
Deposit fees
Bybit maintains deposit charges that are minimal and appealing to users. The exchange does not incur any charges for cryptocurrency deposits such as BTC, ETH, or USDT. You can transfer crypto to your Bybit wallet without additional charges from the platform, although blockchain network charges (such as gas fees for Ethereum) still exist and are based on the coin and network traffic.
Bybit also accepts fiat deposits via third-party suppliers such as Banxa or MoonPay, though with fees charged by the providers – usually 1% to 3% – and not Bybit.
Binance also uses the same approach for crypto deposits. It does not charge any fees for depositing cryptocurrencies like BTC, ETH, or USDT, though network fees do apply depending on the blockchain.
Binance is unique in that it provides free bank deposits for fiat currencies like USD, EUR, and AUD in most scenarios. But, there are certain fiat methods – such as credit card deposits – that can charge up to 1.8% or higher in fees based on the payment provider and location.
You can use our Bybit referral code during sign-up as a new user to get a $30,000 USDT welcome bonus.
Withdrawal Fees
Bybit applies dynamic withdrawal fees for your cryptocurrencies, meaning that they may change over time based on network conditions. The exchange doesn’t set a fixed fee by itself but passes on the network cost to users. F
For example, your BTC withdrawal on the Bitcoin network will cost you around 0.0002 BTC, and the same ETH could be around 0.0015 ETH. And, Bybit also doesn’t add extra platform fees on top of this. Fiat withdrawals aren’t directly supported on Bybit, as you’d need to convert your fiat to crypto first or use a third-party service, which will, of course, add costs.
Binance also ties its withdrawal fees to network costs, but we noticed that it tends to offer lower rates. The exchange charges 0.0001 BTC for Bitcoin withdrawals and 0.001 ETH for Ethereum. These are much cheaper than Bybit’s rates.
Also, Binance adjusts these fees regularly to match blockchain conditions, and similar to Bybit, it doesn’t add extra platform fees. It also supports bank transfers with withdrawal fees as low as $0 for some currencies (like AUD), or you need to pay up to $15 for others (like USD), but it also depends on the method and region.
Binance vs. Bybit: What Are Their Security and Regulatory Levels?
Binance and Bybit are highly secure exchanges with measures such as anti-phishing code, withdrawal address whitelisting, PoR data, 2FA, and cold storage.
- Anti-phishing code: Binance provides you with an individual anti-phishing code so that you can easily check and verify authentic emails coming from the site. You can use this code to detect phishing scams so that only official messages from Binance pass through to your inbox. Bybit also offers the same anti-phishing code feature.
- Withdrawal address whitelisting: You can set up and verify a list of only wallet addresses that are allowed for withdrawals. Then, the exchange will limit transfers to only these pre-configured addresses and prevent unauthorized transfers if your account is hacked. Bybit provides the same system, where you can similarly restrict where your money goes.
- Proof of Reserves (PoR) information: Binance publishes PoR reports to demonstrate that it has sufficient assets to cover user funds 1:1. This kind of transparency indicates that the exchange is not using your money elsewhere like FTX. Bybit also publishes PoR information with the same 1:1 reserve ratio.
- Two-factor authentication (2FA): Binance mandates you to activate 2FA for all your logins and withdrawals. You can utilize methods such as SMS codes or some authenticator apps. This additional layer requires hackers to have more than your password in order to gain access to your exchange funds. Bybit also offers 2FA.
- Cold storage: Binance stores around 90% of its user assets in cold wallets; these are generally offline storage systems and protected from online attacks. Bybit also holds most funds in its cold storage wallets as well, but its $1.4 billion hack in February 2025 revealed weaknesses in handling your assets during transfers.
Binance SAFU Fund
Binance launched its Secure Asset Fund for Users (SAFU) in July 2018. The exchange generally sets aside 10% of trading fees, and now, this fund has grown to $1 billion.
Bybit $1.4B Hack
Recently, Bybit experienced a massive $1.4 billion hack on February 21, 2025. The hackers, identified as a North Korean group, stole over 400,000 ETH from a multi-sig cold wallet by manipulating user interaction code. Bybit took out $1.12 billion in bridge loans to cover 80% of the loss funds, but it doesn’t have a fund such as SAFU, so you’re less covered.
Regulatory Levels in Different Countries
Binance secures licenses in 22 jurisdictions globally. The exchange currently operates legally in countries like France, Dubai, Lithuania, Australia, and Ukraine.
Bybit also holds some regulatory approvals, but very few. The exchange is registered as a Virtual Asset Service Provider in Dubai and is also registered with FIU in India. France removed Bybit from its blacklist in February 2025 after talks with the AMF, hinting at a future MiCA license in the EU, but we can say it still lags way behind Binance.
Binance vs. Bybit: What Is Their Customer Support Quality?
Binance provides you with some solid customer support. It comprises 24/7 live chat, email assistance, and a comprehensive help center with tutorials for you to assist in any difficult situations. You can also contact them either using the Binance website or app, and they generally respond within hours; of course, some complicated situations may take longer.
Bybit also offers you the same 24/7 support arrangement. It has live chat, email, and a help center, along with active social media accounts such as Twitter and Telegram.
Binance gets mixed feedback from you on platforms like Reddit and Quora. A Reddit user said, “I’ve no problems with Binance. Mainly, the other exchanges are not great.”
Another user quoted, “My withdrawals have been disabled for over 30 days, and despite multiple attempts to contact support, I keep getting generic responses with no real solution.”
Bybit receives varied reviews, too. A Quora user said, “Avoid Bybit P2P at all cost! Their support is zero! They don’t care about their customers.”
Note: Both Binance and Bybit are good at customer assistance, with some positive and negative user reviews.
Binance vs Bybit: Which Exchange Should You Use?
Binance is best suited for users:
- Who wants fiat deposits and withdrawals: Binance supports over 40 fiat currencies. You can deposit fiat such as USD, EUR, and GBP via bank transfers and cards. It is a very convenient exchange for you if you need easy fiat-to-crypto conversions. The exchange is perfect if you don’t have crypto and want to buy it using your traditional currencies.
- Who wants high trading volume and liquidity: Binance has the highest liquidity in the industry. Currently, it serves over 246 million users globally. Hence, it is great for traders who really need high liquidity to avoid price slippage. Also, this makes the exchange a top choice for day traders or scalpers.
- Who wants advanced trading features: Binance has advanced tools like 125x leverage futures, margin trading, and trading bots. It has a lot of trading options for experienced traders.
- Who wants a built-in NFT marketplace: Binance has a very well-established NFT platform that currently supports multiple blockchains similar to Opensea. It is perfect for you if you want to buy, sell, or trade NFTs also alongside your regular crypto trading.
Are you new to Binance? Sign up with our referral code to claim a $100 crypto bonus.
Bybit is best suited for users:
- Who wants advanced derivatives trading: Bybit is known for crypto derivatives trading with features like futures, options, margin trading, and leveraged tokens. It offers all the advanced features, including advanced order types, high leverage, a fast matching engine, and more.
- Who wants 1600+ coins for trading: Bybit supports over 1,600 cryptocurrencies, far more than Binance’s 400. It is great for users who want access to a massive variety of coins, including niche tokens and many new altcoins that you will see only on DEXes.
- Who wants no-KYC crypto withdrawals: The Bybit cryptocurrency exchange allows withdrawals of up to 20,000 USDT daily without KYC verification. So, if you are a privacy-focused user, Bybit is best for you.
- Who wants crypto copy trading: Bybit’s copy trading feature is very advanced and has over 800,000 master traders. It is excellent for beginners who want to mirror others’ strategies or even want to learn some new trading strategies.
New to Bybit? Register with our Bybit referral link to unlock a $30,000 USDT welcome bonus.
Binance Pros and Cons
Binance Pros
The pros of Binance are a wide range of supported cryptocurrencies, low trading fees, high volume and liquidity, advanced trading features, and strong security.
- Wide range of coins: Binance supports over 400 cryptocurrencies for spot trading and 100+ perpetual derivatives contracts. You can pick from all popular coins like Bitcoin, Ethereum and other smaller altcoins.
- Low trading fees: Binance charges only 0.1% for spot trading and 0.02% maker/0.05% taker fees for futures. These are low costs compared to other exchanges, and you also get a 25% discount using BNB.
- High liquidity: Currently, Binance handles over $50 billion in daily trading volume. This means the exchange is highly liquid, and there is zero price slippage.
- Lots of features: Binance offers staking, NFT trading, launchpad, and even has its own blockchain, BNB Smart Chain. You can also trade options contracts with weekly, monthly, or quarterly expiry.
- Strong security: Binance is a highly safe crypto exchange, and it has the SAFU fund, 2FA, and cold storage for most assets.
Binance Cons
The Cons of Binance are regulatory issues in the United States, and mandatory KYC measures may be restrictive for privacy-focused users.
- Regulatory challenges: Binance faces regulatory issues in countries like the U.S., where it has to offer a separate Binance.US exchange with fewer features, and it does not offer futures, margin trading, and options trading.
- Mandatory KYC: Binance has strict KYC verification for every user upon sign-up. This is time-consuming and also restrictive relative to Bybit’s no-KYC feature for up to 20,000 USDT of daily withdrawals.
Bybit Pros and Cons
Bybit Pros
The pros of Bybit are high-leverage derivative trading, simple interface, no-KYC crypto withdrawals, fast order matching engine, and copy trading.
- High leverage: Bybit offers up to 100x leverage on your futures coins. This lets skilled traders amplify profits, making it a top pick for risk-takers. It also has an advanced derivatives market that includes options, futures, margin trading, and leveraged tokens.
- Simple interface: Bybit’s trading platform is very clean and easy to use, even for beginners. There is also a mobile app for you to trade on the go.
- No KYC for small withdrawals: You can withdraw up to 20,000 USDT daily without your ID verification. But, remember that you need to complete KYC for trading or deposits.
- Fast execution: Bybit has a 99.99% server uptime and also quick order processing. So, there is a zero price slippage when buying crypto on the exchange.
- Copy trading: Bybit supports copying trades from 800,000 master traders. This feature is really helpful for newbies who can learn from pros, something Binance also offers but not as advanced as Bybit.
Bybit Cons
The cons of Bybit are hacking issues, with a recent $1.4B hack and high crypto withdrawal fees.
- $1.4B hack: Bybit recently faced a security breach from North Korean hackers, resulting in $1.4 B stolen funds. This hack was conducted on the Bybit multi-sig cold wallet.
- High withdrawal fees: Bybit charges high withdrawal network fees compared to other exchanges like Binance. This may be called a hidden fee.
