Bybit vs Coinbase

Bybit vs Coinbase

Robert McDougall 

August 26, 2022

Cryptocurrency

Bybit is a crypto exchange founded in 2018 that offers derivatives trading, spot trading, and margin trading. It has amassed over 2 million users, mainly due to the exchange’s offer of up to 100x leverage on ETH/USD and BTC/USD trading pairs, low trading fees, and 220+ coins. Bybit has a fiat gateway for easy purchases, an insurance fund in place to protect traders, a mobile app for iOS and Android devices, and 24/7 customer support via live chat.

Coinbase is a renowned crypto exchange in the USA founded in 2012 and offers easy options to buy, sell, or trade digital assets. There are over 160+ cryptocurrencies to trade and the platform comes with simple buy and sell orders, making it really convenient for beginners as well. This is probably why over 98 million users are currently signed up.

Let’s compare the two to see which one comes out on top, has better tools at its disposal, lower fees, and better security measures in place.

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

AUD, USD, EUR, GBP, CAD, MXN, HRK, CZK & 10+ more

Number of Coins

220+

160+

Trading Fees

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

Varies

Deposit Methods

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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

AUD, USD, EUR, GBP, CAD, MXN, HRK, CZK & 10+ more

Number of Coins

220+

160+

Trading Fees

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

Varies

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
  • Easy to use and navigate, especially for beginners
  • Opportunities to earn interest on crypto
  • Supports a wide range of payment methods
  • Access lower fees if you trade on Coinbase Pro
Cons
  • Higher buy/sell fees than other exchanges
  • Poor customer support

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

Winner - Bybit

No contest here, as Coinbase’s fees are really high compared to many other exchanges, not just Bybit. Bybit enjoys a solid reputation of transparency and low fees, which attract a great deal of users. This is exactly why we’ve chosen it as the winner.

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.

Winner - Coinbase

Coinbase wins as it supports all the methods that Bybit offers, plus 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 220 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.

Winner - Bybit

While Coinbase is more suited to beginners, Bybit is a fully-featured trading platform with tons of markets and additional options. Copy trading, automated bots, margin trading, and a demo mode are just some of the features on offer.

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.

Winner - Bybit

Frequent security checks, industry-leading protocols, and a very rigid system with no notable cyber breaches or loss of data makes Bybit the clear winner here.

Number of Cryptocurrencies

Bybit has more than 220+ 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. 

Winner - Bybit

Bybit offers more coins than Coinbase, so it wins this section easily.

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 220+ 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, even without making a deposit.

Overall Winner - Bybit

Bybit wins with a huge array of features, such as copy trading, bot trading, margin trading (up to 100x leverage), a demo mode, and more.

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.

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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