Bybit vs Bitget

Bybit vs Bitget

Robert McDougall 

August 25, 2022

Cryptocurrency

British Virgin Islands-based Bybit was launched in 2018. Considered the fastest-growing exchange, the global cryptocurrency platform currently has over 2 million active users, indicating the trust they have built in the crypto community.

Its diverse range of features is the platform’s main highlight that attracts users from all over the world to join the ecosystem Bybit has created. 

The one-stop cryptocurrency exchange offers crucial and popular crypto services and features. Users on Bybit can easily sell and purchase crypto assets with a variety of payment methods or access the P2P market available for a hassle-free experience. The trading features along with the automation brought by Bybit are next-level and can certainly be revolutionary for countless traders.

Bitget has many similarities with Bybit. Launched in the same year as Bybit, Bitget also has over 2 million users, making it one of the few exchanges to have accomplished this milestone. It features a comprehensive and user-friendly layout which allows you to easily explore every single service and go for any feature you want without being lost.

Bitget also offers a variety of features and services, which include pretty much everything an amateur and a professional trader or investor would look for. Starting with simple crypto selling and purchasing, you can go all the way to trading different markets and investing your digital assets to earn a considerable profit. Automated trading is also a Bitget forte that you would surely love to explore.

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

USD, EUR, GBP

Number of Coins

220+

280+

Trading Fees

Spot: 0.1%, Derivatives: 0.01% / 0.06%

Spot: 0.1%, Futures: 0.02% / 0.06%

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

USD, EUR, GBP

Number of Coins

220+

280+

Trading Fees

Spot: 0.1%, Derivatives: 0.01% / 0.06%

Spot: 0.1%, Futures: 0.02% / 0.06%

Deposit Methods

Cell
Cell

Bank Transfer

Google Pay

Fedwire

PayPal

Credit Card

Debit Card

Apple Pay

SWIFT

Skrill

SOFORT/iDEAL

Cryptocurrency

Features

Cell
Cell

User-friendly

Mobile app

Live Chat

Security

Cell
Cell

2FA

Biometric security

ISO 27001 certified

Offline cold storage

Website

Pros
  • No KYC required
  • Margin trading with high leverage (up to 100x)
  • Testnet (demo mode) to learn how to trade
  • Copy trading available so you can automatically copy successful investors
  • Excellent 24/7 live chat support
Cons
  • No fiat withdrawals
  • Not available in the US
Pros
  • Buy cryptocurrencies with hassle-free methods
  • Trade 280+ cryptocurrencies using spot and futures markets
  • Automate your trading with copy trading
  • Earn crypto with savings accounts and launchpad
Cons
  • Slow customer support
  • Not the best variety available in the savings program

Bybit vs Bitget Fees

Bybit has kept its trading fees lower than competitors, and even provides users with the option to bring their fees even lower. For basic trading, you pay a fixed fee of 0.1% as a maker or a taker if you are trading in the spot market. If you are trading contracts, the trading fee gets even cheaper as you will only have to pay 0.06% as a taker and 0.01% as a maker. To lower the trading fee further, you can increase your 30-day trading volume and fulfil the requirements stated by the platform. Increasing the trading volume will allow you to jump your tier and receive trading fee discounts.

For copy trading, every trader has its own fee and might ask for a commission on every successful trade. Crypto deposits are free of charge. For cryptocurrency withdrawals, a variable fee is charged to you at the time of withdrawals. Direct crypto purchases also carry a fee, which varies depending on the the payment provier you choose.

Bitget also offers zero-fee crypto deposits but withdrawals come with a small network fee that you have to pay in order to get your transaction processed. The payments from third-party merchants also carry a specific fee which can vary between 2% to 8% depending on the payment provider you choose. In case you go with the P2P market to buy or sell, you have to pay the merchants a commission.

The spot trading fee at Bitget is the same as Bybit, at 0.1% from takers and makers. If you pay the trading fee with BGB, which is the native token of the exchange, you only need to pay 0.08% as a maker or taker. As for contract trading, it is also pretty much the same as Bybit, as traders have to pay 0.02% as makers and 0.06% as takers. But unlike Bybit, Bitget does not have a defined tier-based program which offers discounted fees according to your tier. If you want to get trading fee discounts on Bitget, you have to get in touch with the platform separately and submit your application.

Winner - Bybit

Bybit is the winner because of its trading fee structure, which allows users to discount fees by increasing their 30-day trading volume. Bitget currently does not have this efficient system, as traders on their platform have to apply manually to receive fee discounts.

Bybit vs Bitget Payment Methods

Bybit has made payments easy with their support of crypto deposits and fiat purchases. You can kickstart your journey on the platform by simply depositing cryptocurrencies from your crypto wallet. If you want to use your fiat currency, you can pay directly for crypto using a range of methods, such as bank transfers, Visa/Mastercard, Google Pay, and Apple Pay. There is also a P2P market available with countless merchants from different jurisdictions that offer more payment options.

Bitget also allows users to deposit cryptocurrencies with their crypto wallets. To purchase crypto assets, they can use third-party payment merchants that the exchange has partnered up with, and they will provide you with plenty of methods such as bank transfer, credit/debit cards, Google Pay, and Apple Pay. There is a P2P market that can help you get connected with local merchants so that you can pay locally with the easiest methods available.

Winner - Draw

Both Bybit and Bitget support the same deposit and payment options, so there is no winner for this section.

Bybit vs Bitget Features 

Check out the Bybit and Bitget features below, and then decide which one best fits your needs.

Bybit Features

Several trading markets are available

Any professional or experienced trader would love to explore different trading markets rather than sticking to a single market or a single asset, which can result in a more significant loss in case of uncertain scenarios. Moreover, the concept of trading has changed in the past few years as now you can leverage your trades and earn considerably more than what you invest. This is called margin trading, and Bybit offers this feature that enables you to leverage cryptocurrencies (up to 100x) to multiply your potential of earning.

If you want to keep things simple, there is a spot market with more than 220+ cryptocurrencies that allows you to diversify your portfolio. To broaden the experience of their users even more, Bybit has also created a separate section for derivatives trading where you can find USDT perpetual, USDC perpetual, and even inverse contracts that you can trade right away. Not surprisingly, the platform also offers a whole marketplace to buy or trade NFTs. You will never find Bybit lacking in diversity within the trading markets. There are countless options to go with and trade just as you want.

Professional, accurate, and fast trading interface

If the trading interface is your main concern in a cryptocurrency exchange, Bybit will certainly not disappoint with its design, structure, and algorithm. The Bybit trading interface is fast and light, enabling users to access it with quick loading times and without requiring fast internet service. Their charts and market movements are accurate and precise. Every single movement of the assets is synced for accurate data so that you can know exactly where the price of a particular asset stands. 

There are two types of charts you can access on the platform. One is provided by the platform and the other by TradingView, a very popular charting service in the whole world. Both charts come with tons of customizable options that can help you evaluate the markets in a better way. You can use as many indicators as you want, change the dynamics of the charts, take a look at the depth chart, change the candles/bars, or even select different timestamps for even better evaluation. 

Earn with Bybit savings and liquidity pools

Bybit has two main earning programs that users can opt for and enable them to utilize their idle assets to make some bucks. The Bybit savings program works just like a bank savings account where you deposit cash and earn interest. You have to deposit a crypto asset, whether for a fixed term or a flexible term plan, and earn interest in return after the mentioned period. The Bybit savings program supports popular cryptocurrencies like BTC, USDT, and even ETH.

Liquidity pools are considered a little complex but can pay off really well if you decide to invest in the right pools. There are countless pools available on Bybit consisting of two different assets, and you can provide liquidity to any of them depending on what asset you have. You can earn up to 50% weekly APY by investing in liquidity pools thereby creating a profitable income stream through crypto assets.

Advanced copy trading and grid-bots

Does the concept of automation in trading excite you? If yes, then you should definitely check out the copy trading and trading bots options offered by Bybit. Copy trading is the process of copying a professional trader and the trades executed by that trader. The best thing about copy trading is that you do not have to do anything manually, as every trade is copied automatically, and you can see the results whenever a trade is closed. There are a lot of successful investors on Bybit that you can start copying by checking out their statistics and profit.

There are a lot of trading bots created by different professionals that you can opt for and start trading without doing anything. All follow the algorithm of buying low and selling high to make you as much profit as you can. You can also create your own bot on Bybit if you have the expertise and insights and know how you can be successful. 

Hassle-free crypto purchasing

Bybit has made crypto purchases easier with the variety of payment options they bring to the table. If you want to buy cryptocurrencies at Bybit, you can simply pay with your credit/debit card, bank transfer, Google Pay, or Apple Pay.

There is a P2P market that gives you the option to buy and sell your assets right away by interacting with other Bybit users.

Bitget Features

Spot and futures trading

There are two broad types of traders: one prefers to go with a standard trading system, buying crypto and hoping for it to rise so they can cash out their profits. Another type likes to spice up their trades with leverage that brings more risk but enormously high profits. Bitget has kept both types of traders in mind and provided a spot market and futures market available for anyone to trade. The spot market at Bitget consists of 280+ cryptocurrencies allowing you to trade a huge range, and bring diversity to your portfolio.

For futures, Bitget has different sub-markets which include USDT-M futures, USDC futures, Coin-M futures, simulated futures, and some demo futures that you can consider checking out. But before going into futures trading, make sure to understand the concept and the risk first.

Buy cryptocurrencies with several payment options

Buying cryptocurrencies has never been more accessible as Bitget provides some very fast and convenient payment options to their users. The exchange has partnered up with third-party payment merchants like Banxa and Simplex. You can pay through your credit or debit card or even use Google Pay or other types of payment options.

If you prefer to pay with payment methods that are locally available in your country, check out their P2P market and see if there are any merchants available to serve you. Every merchant has its own commission that you have to pay when purchasing cryptocurrencies.

Profitable strategic trading and copy trading

Strategic trading is just another name for grid-bot trading, where the bot is designed to buy low and sell high. With strategic trading, users on Bitget can create their own bots by setting up the parameters and seeing how those bots perform. If you do not want to go through the hassle of creating your own bot, you can go with the pre-designed AI bot. There will be a specific APY for each bot that you can keep in mind before investing your money in it.

Bitget also has a copy trading feature where there are countless professional traders available to be copied. Simply check the P&L of different traders, check out their average daily profit and the number of copiers, and then pick one that you think is the best for you. You can also use the option to filter out the traders available and check only those who fulfil your requirements.

Great rewards with savings program and BGB ecosystem

Bitget also has a savings program in which their users can participate and earn interest on their crypto assets. It is a good idea to have your money make money for you passively. This way, you might even save your assets from depreciation and earn a considerable amount.

You can also join the Bitget ecosystem by purchasing the exchange-native crypto asset, BGB, which comes with several benefits like low trading fees, staking rewards, early investment access through the launchpad, and much more.

Full-proof security, protection, and insurance

Bitget claims they are committed to foolproof security and protection of their users, and that is why they have opted for an insurance or protection fund that is worth about $200 million. So, in case a breach or hacking attempt compromises your account, and you lose funds, you will be able to recover them through the protection fund opted for by Bitget. 

Bitget is one of the most secure cryptocurrency exchanges, with no reports of hacking or breaching in the past. You can use the protective measures offered by the platform to secure your account even more and trade or invest with peace of mind.

Winner - Bybit

Bybit and Bitget both offer an attractive range of services. Bybit wins with diverse trading markets, trading bots, copy trading, NFT marketplace, and crypto savings accounts.

Bybit vs Bitget Security

Bybit and Bitget are both strict when it comes to security. Neither is willing to risk the privacy and the funds of their users. Considering the rising number of scams, breaches, and hacks, all cryptocurrency exchanges must update and enhance their security system according to the current generation and make it invulnerable to all attacks.

Bybit ensures that all the funds of their users are stored in cold wallets or offline wallets, which cannot be accessed by unauthorized party through the internet. In order to fully protect the individual accounts of the users, Bybit provides them with multiple security options to enable and make authorization necessary every time an activity takes place. For instance, you can turn on 2FA for different activities on Bybit, and you will always have to verify yourself every time you perform any of those particular activities. You can also turn on the features like IP address whitelist, anti-phishing code, address book whitelist, and trusted devices.

Bitget is considered one of the most secure and safest crypto exchanges for traders because they have reserved protection funds backing them up. In case of any unfortunate event, there is a protection fund of around $200M that would compensate you without any problems. And of course, you can also take measures to protect your account individually by enabling 2FA, SMS verification, and email verification systems for added security.

Winner - Bybit

Bybit wins as it offers features like IP whitelisting and trusted devices that play a crucial role in securing your account.

Number of Cryptocurrencies

Bybit has more than 220 cryptocurrencies and Bitget has over 280 cryptocurrencies. Both offer all the most popular cryptocurrencies as well as many newer ones with lots of potential. It is up to you which one you choose for your trading activities.

Winner - Draw

While Bitget offers slightly more coins than Bybit, they both offer a wide range and it is up to you which coins you prefer to trade, and whether that particular exchange supports it.

Verdict - Bybit

Bybit has a better fee structure, more account security functions, and has various features like margin trading, copy trading and bot trading. With 24/7 live chat support and more than 220+ coins, it is the better option out of the two platforms.

To open an account with Bybit, use this unique link and receive $10 FREE Bitcoin when you sign up, even before you make any deposit.

Overall Winner - Bybit

Bybit wins with 24/7 live chat support, copy trading, bot trading, margin trading (up to 100x leverage) and much more.

Still Researching?

To learn more about these two crypto exchanges, read our detailed reviews of Bybit (here) and Bitget (here). If you are from the US, you won't be able to access Bybit, unless you use a VPN, since Bybit blocks IP addresses in the USA. Otherwise, you can read our article on the best crypto exchanges in the US. We have also included a short comparison table below to highlight the key info for you.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Gemini
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Gemini
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
USD, AUD, CAD, EUR, GBP, SGD, HKD
USD, GBP, EUR, CHF, AUD, JPY & 21 more
Cryptocurrencies
Cryptocurrencies
BTC, ETH, BCH, XRP, DASH, LTC, ETC, ADA & 75 more
MEXC, BTC, ETH, EOS, BCH, LTC & 1,520+ more
BTC, ETH, LTC, SOL, DOT, TRX & 120+ more
BTC, ETH, ETC, UNI, LINK, LTC, BCH, DOGE, MATIC, EOS, AAVE, COMP, OMG, YFI, WBTC
BTC, ETH, BCH, DOGE & 90+ more
BTC, ETH, ADA, DOGE, COMP, DOT & 125+ more
Deposit Methods
Deposit Methods
PayPal, Debit card, Credit card, Wire transfer, Online banking
Visa/Mastercard, Bank Cards, Bank Transfer, Apple Pay, Google Pay, Cryptocurrency
Credit card, Cryptocurrency
Credit card, Debit card, Fedwire, Apple Pay, Google Pay
Bank transfer (ACH), Debit card, Wire Transfer, Cryptocurrency
Bank Transfer (ACH), Bank Transfer (SEPA), Debit/Credit Card, Wire Transfer, Faster Payments Service, SWIFT, Cryptocurrency
Trading Fees
Trading Fees
1%
0.2% for spot, 0.02%/0.06% for futures
0.05%
2.93% - 3.90% (depending on loyalty level)
From 0.25% (maker) and 0.35% (taker)
Fees included in the spread

eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."

Marketplacefairness.org provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade or sell cryptocurrency or use any specific exchange. Please do not use this website as investment advice, financial advice or legal advice, and each individual's needs may vary from that of the author. This post includes affiliate links with our partners who may compensate us. 

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