With hundreds of cryptocurrency exchanges popping up over the years, choosing the right one can seem daunting. In this detailed analysis, we compare two leading derivatives trading platforms – Bybit vs Bitget. Both exchanges offer robust features for spot and futures trading but differ in key areas like fees, regulation, and user experience.
Summary
Our rating for Bybit is 4.5/5, while Bitget scores 4/5. Both are excellent options, but after extensive testing and research, we feel Bybit has a slight edge. It offers a superior trading experience thanks to higher liquidity and a smoother interface. Bybit also has stronger security practices in place and is regulated in more jurisdictions. However, Bitget is better suited for copy trading and auto strategies like grid bots. Its fixed fee structure is also preferable for some traders.
With that brief overview in mind, read on for the full breakdown comparing Bybit vs Bitget. Or click here to open a Bybit account today and get up to $40,000 in bonuses, including a 100% deposit match.
Platform Details
Bybit
- Headquarters: Dubai
- Year Established: 2018
- Regulation: Licensed in Dubai and regulated by the Cyprus Securities and Exchange Commission
- Rating: 4.5/5
Bybit is one of the largest cryptocurrency derivatives exchanges by trading volume. It was launched in 2018 and is now a well-established platform for both professional and retail traders.
Bitget
- Headquarters: Seychelles
- Year Established: 2018
- Regulation: None currently
- Rating: ⅘
Bitget is also a leading spot and derivatives trading venue. Since 2018, it has grown to over 5 million users worldwide through its diverse suite of products. However, it currently lacks any formal regulation.
Feature Comparison: Bybit vs Bitget
Both Bybit and Bitget offer extensive spot and futures markets across major cryptocurrencies. Some key comparisons:
- Assets Listed: Bybit lists over 600 trading pairs while Bitget supports 500+
- Leverage: Bybit offers up to 100x leverage on futures. Bitget provides 125x but no leverage for spot trading.
- Order Types: Both support limit, market, and stop orders. Bybit has additional options.
- Fees: Bybit uses a tiered Maker/Taker model. Bitget has a simple 0.1% fee for both.
- Advanced Features: Bybit’s portfolio margin and quantitative trading tools edge it out.
Beyond core trading, some standout features include:
- Bybit Launchpad: For access to exclusive token sales and IDO projects.
- Bitget Copy Trading: The largest platform for copying trader strategies.
- Bybit Leveraged Tokens: Passive gain exposure without margin risks.
- Bitget Savings: Earn interest on crypto holdings up to 45% APY.
In summary, while both platforms are well-equipped, Bybit provides more depth and sophistication appealed to professional traders.
Fee Structure: Bybit vs Bitget
Bybit utilizes a tiered fee schedule based on 30-day trading volume. Maker fees can be as low as 0%, while taker fees range from 0.02% to 0.1%. There are also no withdrawal fees.
For Bitget, spot trades carry a flat 0.1% maker-taker fee regardless of volume. Futures are charged 0.02% for makers and 0.06% for takers. Users can lower fees by 20% by paying in BGB tokens.
Overall, Bybit’s variable fees give it an edge, especially for high-frequency traders. The tiered rebates incentivize providing liquidity. However, Bitget’s simplicity is appealing to some.
Security and Regulation: Bybit vs Bitget
As the biggest concern for any exchange, security practices deserve close scrutiny. Here’s how they compare:
- Bybit stores the majority of assets in cold wallets with multi-signature authorization. It also has insurance against shortfalls. The platform is regulated in Dubai and by Cyprus authorities.
- Bitget follows industry standards like offline storage and multi-sig withdrawals. However, exactly how much is unknown since it remains unregulated. The exchange has partnered with auditing firms for oversight.
Both have strong track records so far, with no known hacks or thefts. But Bybit’s regulation in key jurisdictions and transparent insurance give it stronger assurance for user funds long-term.
Customer Support: Bybit vs Bitget
Customer service is another differentiator between exchanges:
- Bybit support is available 24/7 through email, live chat and an active community forum. Responses are generally fast and solutions thorough.
- Bitget support operates on a similar multichannel model. However, average response times from testing were slower at around 8-12 hours.
Bybit’s round-the-clock live assistance staffed by crypto experts makes problems easier to resolve quickly. Though Bitget support is adequate, it can’t match Bybit’s standard.
Mobile Application: Bybit vs Bitget
Both Bybit and Bitget provide feature-rich mobile trading apps for iOS and Android:
- Bybit’s app has a 4.7/5 rating on iOS with praise for its smooth performance and customizable interface. The Android version holds 4.6 stars.
- Bitget’s mobile offering is also well-designed for on-the-go access. It averages 4.4 stars on both mobile stores but lags slightly behind Bybit.
Both are fully functional for placing trades, managing accounts and monitoring markets. Bybit again has the edge with slightly higher ratings and a more refined execution.
Supported Countries: Bybit vs Bitget
Bybit welcomes traders globally except the following restricted areas:
- United States
- Canada (excluding Quebec)
- Singapore
- Islamic Republic of Iran
- Crimea and Sevastopol
Bitget allows access worldwide apart from the U.S. While Bybit serves fewer regions, higher global demand makes it more widely used in practice.
User Experience: Bybit vs Bitget
To assess the exchanges beyond product features, we analyzed their front-end usability:
- Bybit implements an intuitive tab structure with clean card-based layouts. Navigation between spot/futures/margin is seamless. Advanced charting tools from TradingView are integrated. Overall the interface feels modern and pleasing to use.
- Bitget presents an organized dashboard albeit with a more dated visual design. While fully functional, it lacks Bybit’s refined aesthetic polish. The learning resources and guides are also more sparse.
Both qualify as advanced trading platforms not optimized for beginners. But Bybit distinctly caters its interface more compellingly to experienced crypto traders seeking high performance.
Community and Reviews: Bybit vs Bitget
A thriving community sustains any platform long-term:
- Bybit operates several official community forums in major languages moderated by staff. Discussion is active, with over 4.3k daily posts on average.
- Bitget’s community hub sees lower participation at around 1k daily posts. However, feedback is generally positive about features like copy trading.
Overall user reviews paint Bybit in a slightly better light, with a score of 4.4/5 vs. Bitget’s 4.2. Comments consistently praise Bybit’s reliability, security and support quality over competitors.
Final Thoughts
In closing, both Bybit and Bitget are proven industry leaders that will likely remain mainstays for years. However, if forced to choose one, we believe Bybit provides a more well-rounded overall experience.
Its trading features are unrivalled, oversight is stronger through regulation, security practices give greater reassurance, and higher liquidity makes it ideal for professional opportunities.
That said, for specific goals like copy trading, grid strategies or simply preferring Bitget’s fee structure, it absolutely warrants recommendation too. Overall both are sound platforms – you can’t go wrong with either.
FAQs
Why is Bybit banned?
Bybit is not technically banned but restricted access from the US due to regulatory uncertainties. It selectively prohibits regions to comply with applicable laws.
How secure is Bitget?
Bitget follows industry standard security practices like offline cold storage and multi-signature withdrawals. However, as an unregulated platform, it offers less transparency into funds management compared to regulated Bybit.
Is Bybit the best exchange?
Bybit is amongst the top exchanges globally in terms of features, liquidity and client base. However, “best” depends on individual needs – both it and Bitget are excellent but cater to slightly different trader profiles as outlined above.
Is Bybit still safe?
Yes, Bybit maintains robust security practices on par with major regulated exchanges. It has never experienced any hacks or theft incidents despite handling billions in daily volume, suggesting comprehensive protections remain in place. However, regulation offers additional assurance not available on Bitget.
