The entire derivatives medium of crypto trading is evolving on a rapid pace. Many biggest crypto exchanges are introducing peer-to-peer trading model. Binance and Bybit are two important names in this arena, as they offer quality margin or futures trading options.
Both these crypto coin exchanges have engaged a huge number of users with their unique contracts and high leverage options. To help choose the best-suited margin trading platform here is a complete comparison between Bybit and Binance features. How these two platforms can contribute to your crypto trading portfolio.
Bybit Vs Binance: Overview of Two Biggest Crypto Exchanges
For sure, Binance is considered as one of the largest crypto exchanges in the crypto environment. In 2019 the Binance global introduced its derivatives platform. Now the exchange has stable margin trading platform with deep liquidity, unique products, and around-the-clock customer support. The trading products in the derivatives segment of Binance include vanilla options, perpetual futures contracts, and leveraged tokens. Moreover, the exchange offers leverage of more than 125X for users.
Bybit is a popular crypto-derivative exchange based in Singapore and it was first introduced in March 2018. Being a newcomer in the crypto world, Bybit is growing on a rapid pace with more than 1.2 million registered users. However, unlike Binance, Bybit only offers perpetual futures contracts and supports leveraged position of more than 100X.
Bybit vs Binance Trading Fee
Like many other trading platforms Bybit, also follows a maker and taker-based fee structure. For takers who take liquidity form the market, the exchange has settled the trading fee to 0.075%. Whereas market makers are offered an additional rebate of 0.025% for adding liquidity within the crypto market on both USDT and inverse perpetual contracts.
In the aspect of fee structure Binance is quite similar to Bybit as it also has a maker and takers-based fee structure. Binance is quite popular for its competitive trading fee of 0.1% based on 30-day trading volume. The exchange offers additional 25%discounts when you pay with its native BNB token.
Bybit vs Binance Trading Platforms
Bybit comprises of an high-end innovative and smart derivatives platform having 99.99% system efficiency. The system of this exchange is so strong that it can process more than 100k transactions per second. This is the main reason how Bybit can easily manage volume surges in the market.
Other trading features of Bybit include the unique mark and index pricing module which helps users to prevent sudden and unfair account liquidation, advanced operation APIs. That update market data every 20ms along with liquidity depth that allows instant execution of user transactions with minimal price impact. Moreover, Bybit provides the ability to incorporate best trading bot services using API keys, etc. Additionally, the trading platform has an interactive and easy to use interface that can process multiple order-entry types (limit, market, and advanced).
Binance is one of the biggest crypto exchanges introduce its derivatives marketplace quite recently. The platform interface is simple and easy to use for traders, similar to its spot trading interface. In spite of its wide selection of product offerings, the infrastructure of Binance is well design as the user can easily switch between various product segments.
As one of the largest crypto exchanges, no other exchange matches the liquidity depth of Binance in the market. Moreover, this exchange can easily process more than 1.4 million transactions per second for both spot and futures combined. This means that Binance has instant order execution with no delay.
Bybit Vs. Binance Security
When dealing in a highly dense financial market like crypto, security is the most crucial factor a trader must consider before choosing the biggest crypto exchange. Bybit ensures robust security to its user’s funds and transaction by implementing advanced security management framework, cold-wallet systems for funds security, and two-factor authentication. Bybit safeguards user funds by keeping them in cold wallet. With a multiset address mechanism to prevent any kind of fraudulent activity.
Binance is known for its multi-tier security framework to secure user funds against cyber thefts and system failures. It has two-factor authentication that enables it to provide a secure trading environment for traders.
Summing it up, both Bybit and Binance are biggest crypto exchanges in terms of their liquidity, trading volume, fee structure, and trading options. Choosing one between the two of these platforms solely depends on your trading needs.
If you are still confused with which platform fits your trading scope then take some time and go to the official websites of these platforms and make a decision.