We will compare the overseas virtual currency exchanges Bybit and Binance and explain the characteristics of which one is recommended for use. These two exchanges are very well known and famous for Asians, but the question is which one to choose? Both have good and bad sides.
Bybit VS Binance Which is better?
Binance or Bybit, which is better in terms of company size? We compared which one is recommended for using the service. There is a wealth of information such as high leverage, campaign holding, NFT, defi, bonuses, deposits and withdrawals, how to use, holding positions, etc. When choosing one for the first time, you will probably be concerned about features. I have made a comparison below for easy viewing. Even in Japan, beginners can use the service using Japanese yen. It is popular because it can be used as a smartphone app and the spreads are narrow. The home link is below.
| Binance | Bybit | |
| Company Name | Binance Holdings Limited | Bybit Fintech Limited |
| Found | 2017 | 2018 |
| User | Over 90 million | Over 6 million |
| Address | Hong Kong | Singapore |
| CEO | Changpeng Zhao | Ben Zhou |
| URL | Home Page | Home Page |
Both companies were founded in the same year. The decisive difference is the number of users. Binance is said to be one of the top cryptocurrency exchanges in the world, clearly higher than Bybit. Compared to bitbank, bitflyer, gmo, etc., the number of coins sold on the web is overwhelming. You can specify various orders depending on your purpose while checking the price.
Bybit VS Binance Feature Comparison
Below is a comparison of the latest features by category. The screen is attractive because it can be operated by a smartphone app, even for new users. The campaign is full of discounts. Both types of futures trading are possible, and Bybit is better for makers and takers. Binance is definitely better in terms of the number of altcoins it handles. Identity verification is required for both.
| Bybit | Binance | |
| Company | Bybit Fintech Limited | Binance Limited |
| Headquarters | UAE | Cayman Islands |
| Found | 2018 | 2017 |
| Max Leverage | 100 | 125 |
| Cryptocurrencies | 200～ | 370～ |
| Native Token | BIT | BNB |
| Maker Fee | 0.01% | 0.1% |
| Taker Fee | 0.06% | 0.1% |
| Promotion | Account Open Bonus $5 Deposit bonus $30,000 USDT BTC Deposit Bonus $5 Refer a friend campaign 30% USDC Festival in Spring Others… | Account Open Bonus Deposit bonus Others… |
| Security | High | High |
| Staking | 〇 | 〇 |
| Loss Cut | – | – |
| Mobile App | 〇 | 〇 |
| Live Chat Support | 〇 | 〇 |
| Withdraw Merthod | Crypto | Crypto |
| Deposit Method | Bank Transfer P2P Debit/Credit card Ethereum | Bank Transfer P2P Debit/Credit card Ethereum |
| Demo Account | 〇 | 〇 |
| Minimum Deposit | $0 | $1 |
| Minimum Trade | 0.001BTC | 0.0001 BTC |
| MetaTrader 4 | 〇 | × |
| MetaTrader 5 | × | × |
| cTrader | × | × |
| Future Trading | 〇 | 〇 |
| P2P Trading | 〇 | 〇 |
| Spot Trading | 〇 | 〇 |
| Copy Trading | 〇 | 〇 |
| Auto Trading | 〇 | 〇 |
| VPS Hosting | 〇 | × |
| Trade Instruments | Spot, Futures, P2P, NFT | Spot, Futures, P2P, NFT |
Many trading methods
Both ByBit and Binance basically support orders and operations for spot, futures, and staking crypto assets on their exchanges. However, please note that there are also prohibited items, and if you violate them, your account may be frozen. It is advantageous because you can trade while looking at the selling price. There are also many good reviews. There are more stocks than other exchanges in Japan. Use this as a reference when getting started. You can also check the brands offered on the official website.
Listed project
Due to the overwhelming number of listed projects, IEOs are also held. Japanese virtual currency exchanges such as Coincheck have a small number of coins, but ByBit and Binance also handle basic coins with low market capitalization. There are many benefits, and many launchpad campaigns and events have been held in the past. You can also check the official website for new projects that will be held next.
Types of stocks handled
Regarding the types of stocks handled, Binance supports approximately 370 types of virtual currencies. Bybit handles approximately 200 brands. There are over 100 differences from Binance. Binance may be better in terms of the simple number of virtual currencies. Both platforms are excellent, and users can trade different currencies directly once they get used to them, so they are promising.
Maximum leverage
Binance has a maximum leverage of 125x. Bybit’s maximum leverage is 100x. Comparing the maximum leverage ratio, there is a difference of 25 times, so if you want to make money immediately, you can say Binance. However, Binance allows 125x leverage only when trading with BTC. Leverage drops when it comes to other stocks.
remittance fee
In terms of remittance fees, both are about the same, so I can’t say which one is better. However, Binance may be better for those who are thinking of buying a metaverse currency. There is a big difference in fees.
| Currency | Binance | Bybit |
|---|---|---|
| BTC | 0.0005 | 0.0005 |
| ETH | 0.00625 | 0.005 |
| XRP | 0.25 | 0.25 |
| SAND | 6.87 | 17 |
| MANA | 10 | 32 |
| AXS | 0.005 | 0.39 |
deposit fee
Both Bybit and Binance are basically free of charge for deposits. Keep in mind that some methods of deposit, such as credit and debit cards, will incur fees from your card company, regardless of which exchange you use.
daily trading volume
Binance’s daily trading volume is said to be around 2 trillion yen. Compared to this, Bybit estimates it to be around 40 billion yen, so there is a considerable difference. This is because there is a large difference in the number of users. However, since both companies have very large trading volumes, there is probably no advantage or disadvantage to either one. However, the program also has other NFT marketplaces that you can utilize. Relatively high leverage and small margin required. If you are unsure about it for the first time, it is convenient because you can earn money by investing from a small amount.
Own token
Specifically, Binance issues its own token called BNB, which is based on the BNB chain. Bybit handles BIT tokens issued by a decentralized organization called BitDAO. However, this token is a minor token and is not really the exchange’s own token. Therefore, Bybit does not issue its own tokens.
Registration time
Registration for both Binance and Bybit is simple and easy. Both are popular exchanges with high rankings and are safe. This company is very easy to register. Furthermore, registration for both is free, so there is no risk. However, it is necessary to configure security settings first, so the tasks after registration may be a bit troublesome. It will take some time to make a profit.
spot transaction fee
Please note that the important fee for spot trading in the latest version is 0.01% on Bybit. It was different before, but let’s consider it. There are regular changes, so you will need to log in and check the guide. Both exchanges handle stablecoins such as Bitcoin, Ethereum, Ripple, and Tether. You can safely trade from your wallet. You can also download your transaction history.
Derivative trading commission
It is important to note that fees for derivatives transactions vary widely depending on the transaction method, network type, and blockchain. If you only look at transaction fees, there is no big difference between the two. Check it out to get started. Also, both have official two-step verification systems in place, so be sure to maximize the level before you start.
| Binance | USDⓈ-M | Maker 0.02%, Maker 0.04% |
| Binance | COIN-M | Maker 0.01%, Taker 0.05% |
| Bybit | USDT perpetual contract | Maker 0.075%, Taker 0.01% |
| Bybit | USDT inverse contract | Maker 0.06%, Taker 0.01% |
| Bybit | USDC Options Trading | Maker 0.03%, Taker 0.03% |
business expansion
Binance is actually withdrawing from Japan. This is a withdrawal based on having received a warning from the Japanese Financial Services Agency. As a result, Japanese language support is disappearing on Binance. In comparison, Bybit accepts user registration in Japan as well. Depending on the future actions of the Financial Services Agency, Bybit may also withdraw from Japan. Therefore, Japanese users are better off using Bybit. Bybit also has Japanese support center staff.
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