Bybit vs Coinbase Fees

Bybit is renowned for having some of the lowest fees on the market. Depositing crypto is free of charge, and purchasing of crypto using the fiat gateway will incur a fee dependent on the third-party merchant, but Bybit does not take any fee.

Trading on Bybit has a low fee of 0.1% for spot trading, and lower fees for derivatives trading, at just 0.01% for makers and 0.06% for takers. 

Coinbase falls short in this category as its fees are very high, in addition to a really confusing fee structure. For each transaction, you’re charged anywhere between 0.5% to 4.5%. Each transaction has 0.5% fee as a base, then an additional fee dependant on which payment method, as follows:

• USD Wallet - 1.49%
• Bank Transfer - 1.49%
• Debit/Credit Card - 3.99%
• Crypto Conversion - 2%
• Wire Transfer - $25 outgoing and $10 incoming
• ACH Transfer - Free

Bybit vs Coinbase Payment Methods

Bybit has a variety of payment methods available using the fiat gateway. The following are accepted: Visa/Mastercard, Bank Transfers, Apple Pay, Google Pay, and Samsung Pay.

Coinbase offers plenty of payment options, including everything that Bybit supports, as well as Fedwire, SWIFT, SOFORT/iDEAL, and more.

Bybit vs Coinbase Features 

Bybit was originally a derivatives-only crypto platform, but numerous users’ reviews and requests managed to sway the team behind this platform to venture and add other opportunities as well.

Namely, spot trading and margin trading were added to the platform with incredibly high leverage. Experienced traders can take full advantage and acquire up to 100x leverage, something few other crypto platforms can offer.

Over 280 cryptocurrencies and coins are available on the platform and there’s a fiat gateway in place for instant crypto purchases. The intuitive interface makes it easy to use, navigate, and conduct trading operations, something that is extremely beneficial to beginners and experienced users. There is also the addition of a testnet demo mode, where you can learn how to trade using play money, and data gathered from live markets. 

If you really have no idea where to start with crypto trading, you can even use a trading bot or copy trading to automate your strategy. With a trading bot, the automated system will make trades based on your set parameters, or a pre-made bot on the site. If you are copy trading, you simply select a profitable investor and your trades will be conducted exactly the same as the person you are following.

On the other end we have Coinbase - the largest US-based crypto exchange, which offers a set of interesting features for users to operate with.

Here you can access an easy-to-use interface that is perfect for newbies who are after a quick buy and sell function. If you prefer trading, then you can use the advanced platform, Coinbase Pro, which has charting functions, stop orders, limit orders, and enables crypto-to-crypto trading. 

One of the best tools at Coinbase’s disposal is the Coinbase Earn option. This allows you to earn while learning and educating yourself on the crypto world. The platform offers exams and video classes to educate its users, and in return, they receive rewards in the form of cryptocurrency. Coinbase continues to add more features and options to improve its functionality.

Bybit vs Coinbase Security

Bybit and Coinbase follow all the latest security protocols, and both employ state-of-the-art safety measures. However, Bybit excels with a proven track record, something which Coinbase cannot claim. Bybit has two-factor authentication (2FA) in place, cold wallet storage, SSL encryption, and a three-level verification.

Bybit focuses on transparency and is quite rigid when it comes to security. Namely, it conducts frequent safety checks, and reviews all security protocols on a regular basis. It goes even further by giving out rewards to hackers who can successfully identify and locate possible security vulnerabilities in its system.

Coinbase also follows the latest practices to keep users’ data and assets safe from harm. Similar to Bybit, this platform uses two-factor authentication (2FA), bank standard encryption, and cold wallet storage. However, the difference is that 98% of users’ data and assets are stored offline, but 2% are stored online, meaning hackers can still do damage.

Now even though the company assures its users that it is safe and secure, numerous users have stated that they fell victim to schemes and hackers that have sliced their accounts.

Number of Cryptocurrencies

Bybit has more than 280+ cryptocurrencies on offer, and has most almost all of the popular ones.

Coinbase offers roughly 160 cryptocurrencies, and it regularly adds coins to their supported list. 

Verdict - Bybit

Coinbase is a good platform to buy, sell, store, or trade crypto with a great interface that is suitable for beginners. With poor customer service and a high fee structure in place, though, it is not an ideal choice, especially if you’re looking to deposit or withdraw frequently.

Also, Coinbase is more susceptible to cyber breaches and hacks, so keep this in mind if you’re looking to sign up to this platform.

Bybit, on the other hand, is outstanding when it comes to safety for its users. With an easy, simple, and sleek design and interface, it’s a platform that caters to its users heavily, no matter if you are a beginner or an experienced crypto trader. Customer support is available 24/7 via live chat, and it is so easy to sign up and instantly deposit funds and start trading immediately, since there is no KYC required.

With over 280+ cryptocurrencies and up to 100x leverage on margin trading, Bybit is the ideal place for all your crypto trading needs. If you want to sign up to Bybit, use our special link to receive $10 FREE Bitcoin when you sign up and deposit $100.

Still Researching?

To learn more about these two crypto exchanges, read our look at reviews of Bybit (here) and Coinbase (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 look at our article on the top cryptocurrency exchanges in the US. We have also included a short comparison table below to highlight the key information.