Margex vs Bybit

Margex vs Bybit

Robert McDougall 

July 19, 2022

Cryptocurrency

Crypto investors have a wide range of crypto platforms to choose from, such as KuCoin, Coinbase, Kraken, and FTX. In this article, we will be comparing two upcoming exchanges in the market: Margex and Bybit.

Margex is a centralised cryptocurrency exchange (CEX) that was founded in 2020. The Margex team is led by seasoned professionals with a strong belief that the crypto industry will shape the future of global finance. The Seychelles-based exchange offers users a secure platform with a user-friendly interface to buy and sell cryptocurrencies.

Bybit is another fast-growing cryptocurrency exchange that was founded in 2018. The Singapore-based cryptocurrency derivatives exchange platform was launched in March 2018 and offers perpetual contracts with up to 100x leverage.

Both exchanges offer different features and benefits, so it really depends on what you are looking for in an exchange. In this article, we will be comparing these two exchanges side-by-side to see which one comes out on top. Without further ado, let's get started!

Cell

Fiat Currencies

USD, AUD, EUR, GBP and many more

USD, AUD, CAD, EUR, GBP

Number of Coins

220+

13

Trading Fees

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

0.019% / 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, AUD, CAD, EUR, GBP

Number of Coins

220+

13

Trading Fees

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

0.019% / 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
  • Wider range of 220+ coins
  • Demo account to practise trading
  • Offers spot, margin, and derivatives trading
  • Copy Trading feature
  • Excellent 24/7 live chat support
Cons
  • No fiat withdrawals
  • Not available in the US
Pros
  • Hassle-free sign-up process with no KYC required
  • Margin trade with up to 100x leverage
  • Comprehensive trading guide available for beginners
  • User-friendly interface makes it easy for beginners
Cons
  • Not available in the USA
  • Limited range of 13 coins, and no spot trading

Bybit vs Margex Fees

Neither Margex and Bybit support fiat deposits or withdrawals, and therefore, there are no charges for either transaction on either platform. However, individual third-party payment processors will charge transaction fees if you wish to purchase crypto directly using fiat currency. These fees vary depending on market conditions.

Depositing crypto into either exchange is free of charge, and withdrawals are subject to a fee dependent on which coin you want to transfer.

When it comes to trading fees, Margex charges 0.019% for makers and 0.060% for takers.

Bybit has different fees for spot trading and derivatives trading. Spot traders pay 0.1% per trade, and derivatives traders pay 0.01% and 0.06% for makers and takers, respectively.

Winner - Bybit

Bybit wins, with lower derivatives trading fees of 0.01/0.06% (maker/taker), as well as the option to spot trade at 0.1% (which is not supported on Margex).

Bybit vs Margex Deposit Methods

As we noted above, you cannot make fiat currency deposits into Margex and Bybit. Instead, you can either deposit cryptocurrency into your account, or use the supported payment methods to buy digital currency. 

Margex supports credit cards and debit cards only, while Bybit supports credit and debit cards, Google Pay, and bank transfer via a wide range of third-party payment processors.

Winner - Bybit

Bybit has an array of options for payment methods, while Margex is limited to only credit and debit cards.

Bybit vs Margex Features 

Margex features:

Margex is a newer margin trading exchange that promises to make trading easy, with an intuitive interface and a variety of features that users will find attractive.

High liquidity trading pairs

Margex offers a limited range of trading pairs, but the ones it offers are the popular coins with high liquidity. For example, XRP/USD and UNI/USD are frequently traded trading pairs, with a good balance between stability and volatility. Some other trading pairs include SOL/USD, BTC/USD, LTC/USD, ADA/USD, EOS/USD and ETH/USD.

Great user experience

Margex offers an excellent customer support experience, with a user-friendly interface that makes it easy for beginners to get started. The comprehensive trading guide available on the website is a great resource for beginners, providing an overview of the different trading options available and how to use them. The Margex team is also very responsive to customer queries, ensuring that all users have a positive experience. Overall, Margex provides a great user experience, with everything that beginners need to get started in online trading.

Sign up quickly and trade anonymously

Margex is committed to providing users with the easiest and fastest sign-up process possible. They understand that nobody likes jumping through hoops to join an exchange, so they've designed the sign-up process to be as straightforward as possible. All you need to do is provide your email address and create a password, and you'll be ready to start trading in no time. Best of all, they don't require any KYC verification, so you can trade immediately and anonymously, without uploading documents or waiting for approval.

Margin trading with up to 100x leverage

Margex currently offers 13 of the major cryptocurrencies for margin trading, with up to 100x leverage. This is a generous amount of leverage, as some other crypto platforms only allow up to 5x or 20x. However, please keep in mind that margin trading is a risky investment strategy, and should only be conducted by experienced traders that fully understand the risks. Having said that, it can offer the potential for high rewards. Margex provides users with the tools and information they need to make informed trades. 

Bonuses

Bonuses and promotions are also available to users who open an account with Margex. Margex offers a generous affiliate program with a 40% commission on all referral trading fees.

There's also a $100 sign-up bonus which is split into two parts. When you first register, you'll get a free $50 bonus to cover your trading fees. Once you've deposited 0.004 BTC or more, you'll receive an additional $50 bonus. This makes it easy to get started with Margex and start earning money from your referrals. With these bonuses, you can easily offset the costs of buying and selling crypto, making it a great option for those just starting out. Sign up with Margex now, to claim your bonuses.

Bybit Features

Bybit is an excellent crypto exchange that has quickly become one of the most popular crypto trading platforms. Unlike Margex, Bybit is well-suited for novice and experienced traders alike. Here are some of the features that make it a worthy competitor to Margex:

Derivatives trading

Bybit is well-known for its derivatives trading offering. The platform offers a variety of contract types to suit different traders' needs. The most popular contract type is the Inverse Perpetual, which uses the coin as collateral. This type of contract is ideal for traders who want to speculate on the price of the underlying asset without having to worry about the volatility of the markets. For those who want to hedge their positions or take advantage of market trends, the USDT Perpetual and Inverse Futures contracts are also available. In a USDT perpetual contract, USDT is used as collateral, and in an inverse futures contract, the coin is again used as collateral.

Spot trading

Bybit's spot trading feature is a great way to complement your derivatives trading. With spot trading, you can trade a variety of digital assets against USDT, including BTC, ETH, XRP and EOS. Bybit currently offers over 220+ different trading pairs, with more being added all the time. The spot market is highly liquid, with prices moving rapidly in response to market conditions. As such, it's a great way to get involved in the digital currency markets without having to commit to a long-term position. Plus, with Bybit's low trading fees, you can trade without worrying about high costs. 

Margin trading

You can also try margin trading on the platform, with Bybit offering up to 100x leverage on some coins. This means that traders can take positions that are worth up to 100 times their initial investment. This high level of leverage can be used to amplify profits, but it can also lead to losses if the market moves against the trader. For this reason, margin trading is only suitable for experienced traders who are aware of the risks.

Insurance fund

As mentioned, Bybit offers up to 100x leverage on its trades. While this can be a great way to amplify your profits, it can also leave you highly exposed to losses in a volatile market. To protect its traders from being wiped out by sudden price movements, Bybit has an insurance fund that covers any excess losses. This means that even if your position is liquidated at a worse than bankruptcy price, you will still have some equity left over. As a result, the insurance fund helps to minimize the risk of trading on Bybit and makes it a more attractive platform for those looking to take advantage of leverage.

Demo account

If you're new to Bybit, we recommend that you start by using a Testnet account. This is a demo version of the main site, and it allows you to practise trading without depositing any real money or crypto. Instead, you use demo Bitcoin to conduct your trades, to get a feel for the exchange before you use your real money. Using the Testnet is a great way to learn how Bybit works, and learn how to place orders and execute trades.

Best of all, the Testnet is identical to the main Bybit site, so you'll be able to transition seamlessly to live trading when you're ready. The Testnet is also a useful tool for experienced traders who want to test out new strategies without putting their capital at risk. 

Great user experience

Bybit is a great choice for those looking for a fast and reliable exchange. With the ability to process 100,000 trades per second, traders can be sure that their orders will be executed quickly and efficiently. In addition, Bybit offers 24/7 customer support, which is always available to answer any questions or concerns that traders may have. The exchange also supports take profit/stop-loss orders, which can help to limit losses and maximize profits.

Winner - Bybit

Bybit comes out on top as the more feature-rich platform. Besides the traditional spot and margin trading, Bybit offers derivatives trading and it's one of the few exchanges that offers such a wide range of derivative products. Bybit has also set up a reserve pool that protects traders from extreme losses and a demo platform that helps novice traders get familiar with Bybit's interface before trading with real money.

Bybit vs Margex Security

In this digital currency age, security is a major concern for any online platform. When it comes to cryptocurrency exchanges, security is even more important since exchanges are often targets for hackers due to the large amounts of money that flow through them.

Every exchange is committed to ensuring the safety of its users' funds and personal information, and both Margex and Bybit haven't been left behind in this regard.

On Margex, two-factor authentication is required for all withdrawals, and all withdrawals are also confirmed via email. In addition, all communications with Margex are encrypted using SSL, and their servers are monitored in real-time to ensure that they are operating properly. Plus, their system is designed to prevent price manipulation and fraud, and all customer assets are stored in cold storage to further protect them from theft.

When it comes to security, Bybit takes a multi-faceted approach. To start, all account access requires both multi-factor authentication and biometric information to prevent unauthorized access. They have also adopted cold wallets to store digital assets. This is one of the most secure storage methods available, as it keeps the assets offline and away from potential hackers.

In addition, Bybit uses SSL encryption to protect all data transmitted between traders and the exchange. They also have a withdrawal limit in place, which restricts traders to withdrawing once every eight hours. This ensures that any suspicious activity is caught and investigated before any funds are lost.

Finally, all withdrawal requests are subject to three levels of verifications and manual reviews per day. This ensures that any attempted fraud is caught and dealt with quickly and efficiently.

Winner - Tie

As the world of digital assets continues to grow, security measures must evolve to keep pace. Online exchanges are particularly vulnerable to attack, and it is essential that they take steps to protect themselves and their users. Since neither of these two has reported any cases of hacking, it's safe to assume they both have tight security measures in place. Plus, they've both employed multiple layers of security such as cold offline storage, Two-Factor Authentication (TFA), and SSL encryption making them both very safe to use.

Number of Cryptocurrencies

Regarding the number of cryptocurrencies supported, Margex falls far behind Bybit. Margex only supports 13 coins, while Bybit supports over 220. This is definitely a huge difference, and it can have a big impact on your trading experience. With Bybit, the numerous options makes it easier to find a profitable market to trade, and take advantage of different market conditions.

Winner - Bybit

 Bybit takes the lead when it comes to the number of supported cryptocurrencies and trading pairs available. If you're looking for a platform with more options and flexibility, Bybit is the clear choice.

Verdict - Bybit

At first glance it can be hard to tell which of these two exchanges is better since they both offer a lot of advantages and different features that appeal to different types of investors. Plus, both offer competitive fees and are extremely secure.

However, after our analysis, we found that Bybit is the better exchange since it caters to both novice and experienced traders, and offers more markets, features, and cryptocurrencies. With features like derivatives trading, 220+ coins, a demo account, and a reserve pool, Bybit definitely has the edge over Margex.

However, if you prefer to use Margex, be sure to take advantage of the generous welcome offer of $100 FREE plus 15% bonus on your first deposit, when you sign up here.

Overall Winner - Bybit

Bybit is a secure crypto trading platform with low trading fees, 220+ coins, 24/7 Live Chat, and advanced features.

Still Researching?

If you want to read more about these two crypto exchanges, read our detailed reviews of Margex (here) and Bybit (here). If you are from the US, you won't be able to access either of these platforms, but you can take a look at the best crypto exchanges in the US. There is also a quick comparison table below that summarizes some key info.

Comparison Table of the Best Crypto Exchanges in the USA

eToro
MEXC Global
Pionex
Coinmama
Uphold
Crypto Exchange
Crypto Exchange
eToro
MEXC Global
Pionex
Coinmama
Uphold
Fiat Currencies
Fiat Currencies
USD
USD, TWD, AED, PHP, AUD, JPY, CAD, EUR & more
USD, TWD
USD, EUR, AUD, CAD, GBP, JPY
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, 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), 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)
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. 

To view our privacy policy read this breakdown.


Tags


You may also like

>