As the crypto markets continue to evolve at an explosive pace, traders seek optimal platforms to fulfill their needs. Bybit vs MEXC are two dominant exchanges that have carved distinct niches. This comprehensive comparison analyzes their divergences to help you select the best fit.
TL;DR
While both Bybit and MEXC have their merits, Bybit emerges as a stronger platform for more experienced traders. Bybit leads the field with its robust derivatives offerings, lower fees, a wide range of deposit options, and strict regulatory compliance standards. These advanced features give seasoned crypto traders more powerful tools to generate profits. Meanwhile, MEXC remains attractive for beginners thanks to its broad crypto listings and flexibility between KYC and non-KYC services.
However, for active traders seeking the most sophisticated trading tools, we highly recommend Bybit. Its extensive derivatives options coupled with lower costs make it the premium platform for maximizing returns. For advanced crypto enthusiasts, it’s worth checking out Bybit today.
Platform Details
MEXC
MEXC has an excellent overall rating of 4.4 out of 5 stars based on user reviews. Established in 2018, MEXC is a cryptocurrency exchange based in the Seychelles. It operates two platforms – MEXC Global, which requires KYC verification, and MEXC Exchange, which does not require KYC. MEXC offers trading of major cryptocurrencies against fiat currencies like the US Dollar. They also provide trading pairs between cryptocurrencies and support a variety of deposit and withdrawal options for users.
Highlighted features:
- Supports over 800 cryptocurrencies for trading
- Intuitive and easy-to-use interface praised by users
- Offers spot trading as well as contracts for coins and tokens
- Users can earn passive income through lending and liquidity mining
- Low trading fees of 0.1% for spot trades and 0.02% for futures
- 24/7 customer support
Bybit
Bybit has an impressive rating of 4.7 out of 5 stars based on our user reviews. Founded in 2018, Bybit is a cryptocurrency exchange based in Singapore that handles over $3 billion in daily trading volume. They provide spot and derivatives trading of major cryptocurrencies. Bybit supports a range of fiat on-ramps and offers services like trading bonuses, 24/7 customer support, and secure banking-grade infrastructure.
Highlighted features:
- Supports 350+ crypto assets including BTC, ETH and USDT
- Advanced trading tools allowing up to 100x leverage
- Wide range of derivatives products like futures, options and perpetual swaps
- Top security Features like bank-level KYC verification
- Lowest spot trading fees of 0.1% maker/taker
- Wide payment options for deposits and withdrawals
- Insightful tutorials and courses for beginners
- Round-the-clock customer support
Bybit Vs MEXC: Feature Comparison
Bybit and MEXC are two prominent cryptocurrency exchanges, each offering a unique set of features, assets, and services.
| Trading Options | Bybit | MEXC |
| Spot Trading | ✔ | ✔ |
| Futures Trading | ✔ | ✔ |
| Options Trading | ✔ | – |
| Perpetual Contracts | ✔ | ✔ |
| Margin Trading | ✔ | ✔ |
| Leverage | Up to 100x | Up to 200x |
| Copy Trading | ✔ | ✔ |
| Assets & Platforms | Bybit | MEXC |
| Available Crypto Assets | 350+ | 800+ |
| Mobile App Ratings (iOS) | 4.8/5 stars | 4.3/5 stars |
| Platforms Supported | Web, iOS | Web, iOS, Android |
| Countries Available | 231 | 190+ |
| Security & Compliance | Bybit | MEXC |
| Proof of Reserves Audited | 1:1 Audited | Regularly |
| KYC Required | Yes | Partial |
| Regulatory Oversight | High | Mixed Model |
| Security Features | 2FA, Cold Storage | 2FA, Cold Storage |
| Fees | Bybit | MEXC |
| Spot Trading Maker | 0.1% | 0% |
| Spot Trading Taker | 0.1% | 0% |
| Futures Trading Maker | 0.01% | N/A |
| Futures Trading Taker | 0.06% | 0.01% |
| Deposit Options | Bybit | MEXC |
| Fiat Deposit Methods | 50+ crypto only | – |
| Crypto Deposit Methods | All majors | All majors |
| Third Party Providers | Available | Not available |
Comparison Bybit vs MEXC Products & Services
While both MEXC and Bybit offer a wide range of products and services, there are some key differences:
| Comparison Aspect | MEXC | Bybit |
| Spot Trading | Supports over 750 cryptocurrencies | Supports over 250 cryptocurrencies |
| Derivatives | Offers futures, leveraged ETFs | Provides futures (up to 100x leverage), perpetual swaps, options, and leveraged tokens |
| Lending/Earning Interest | Both platforms offer staking and lending services to earn interest on cryptocurrencies. Bybit also has a lending/borrowing feature. | Both platforms offer staking and lending services to earn interest on cryptocurrencies. Bybit also has a lending/borrowing feature. |
| Copy Trading | Offers copy trading functionality for novice traders | Offers copy trading functionality for novice traders |
| Additional Services | Serves as an ICO/IDO launchpad | Exclusive NFT marketplace and debit card spending capabilities |
Bybit vs MEXC: Supported Countries
Bybit requires KYC verification and restricts access to users from certain prohibited jurisdictions. MEXC, on the other hand, can be used without KYC from most countries aside from the US and Canada.
Currently, Bybit denies service to users from the US, China, Canada, Singapore, Syria, North Korea, Iran, Cuba, Crimea region, and other prohibited jurisdictions.
Bybit vs MEXC: User Experience
Bybit dazzles users with its optimized interface tailored for desktop and mobile. Screens are neatly organized with interactive charts and one-click access to positions, orders and accounts. MEXC also delivers an intuitive experience wrapped in sleek graphical elements. Both exchanges maintain comprehensive learning centers and 24/7 multilingual support.
Bybit vs MEXC: Customer Support
Bybit and MEXC offer 24/7 customer support via email, web forms, and live chat.
Bybit provides exceptional multilingual support available in English, Chinese, Korean, Japanese, Russian, and German.
MEXC supports English, Chinese, Korean, Russian, Portuguese, Turkish, and Spanish.
Response times are prompt on both exchanges. MEXC has the advantage of offering phone support in addition to email and live chat.
Bybit vs MEXC: Community & Reviews
Bybit has a very active community on social media platforms like Twitter, Telegram and Reddit. The exchange gained popularity among professional traders and has over 100,000 members on Telegram. Reviews on Trustpilot give Bybit an average rating of 4.4/5 from over 8,000 reviews, praising its superior trading tools and futures offerings.
MEXC’s community is smaller compared to Bybit, with around 20,000 Telegram members. On Trustpilot, it has an average rating of 4.1/5 from over 1,000 reviews. Users appreciate MEXC’s diverse range of cryptocurrencies and copy trading features.
Bybit vs MEXC: Pros and Cons
In the following table, we provide an overview of the pros and cons of two popular cryptocurrency exchanges, Bybit and MEXC. This comparison highlights the key advantages and drawbacks of each platform, assisting you in making an informed decision about which exchange aligns with your trading preferences and requirements.
Bybit Pros and Cons
| Pros | Cons |
| Offers an extensive selection of derivatives like futures, options, and perpetual contracts | Comparatively higher spot trading fees of 0.1% |
| Provides high leverage of up to 100x for futures trading | Mandatory KYC requirements limit anonymity |
| Supports spot trading for over 350 cryptos with deep liquidity | Learning curve for advanced trading options |
| Daily volume regularly exceeds $10 billion, ensuring fast trade execution | |
| Multi-tier security system including cold storage, KYC, and 2FA | |
| Proof of reserves and asset insurance with Lloyd’s of London | |
| Over 50 funding options across bank transfers, cards, and e-wallets | |
| Strong regulatory compliance as a Licensed Financial Institution |
MEXC Pros and Cons
| Pros | Cons |
| Support for over 800 cryptos, great for altcoins | Lower daily volume leads to less liquidity than Bybit |
| Fees as low as 0% for spot and 0.02% for futures | Fewer than 15 deposit options limits funding methods |
| Optional KYC allows both anonymous and verified accounts | No insurance or public proof of reserves disclosures |
| Copy trading feature lets beginners emulate experts | Regulatory status less clear than Bybit’s financial license |
| Margin trading offers up to 200x leverage | Lacks advanced options like crypto futures and options |
| Generous staking and lending rewards |
Final Thoughts
Bybit and MEXC both offer excellent trading platforms catering to different user needs. Bybit triumphs when it comes to derivatives trading, liquidity, and user experience. MEXC shines in altcoin variety, fee structure, and accessibility.
For futures, options, and margin traders, Bybit is likely the better pick. The exchange boasts deep order books across 150+ contracts and up to 100x leverage.
MEXC is ideal for traders focused on spot trading a diverse range of altcoins. Its non-KYC option also appeals to users who value privacy. However, MEXC’s futures offerings are limited compared to Bybit.Both exchanges continue to evolve, improving liquidity and launching new features. Ultimately, the choice between Bybit and MEXC depends largely on your specific priorities as a cryptocurrency trader or investor.
