Bybit vs Binance 2025: Which Is the Better Crypto Exchange?

Crypto traders and investors are often faced with the Bybit vs Binance question when looking for the best exchange. Picking between both cryptocurrency exchanges can be a difficult task for new and advanced traders.

By the end of this detailed comparison, you'll have gotten in-depth knowledge of the two crypto exchanges. At the end, you'll be able to use this information to choose which is the better trading platform for you.

Key Takeaways:

• Bybit has listed more coins (1,680+) than Binance and has a better user interface for trading and a more advanced trading features for copy trading.
• Binance goes down the route of offering a very wide range of features and products, while Bybit is primarily focused on derivatives and copy trading. 
• ByBit offers a better fee structure and customer support than Binance. It also has better investment programs and offers bigger crypto bonuses.

Bybit vs Binance: Overview

Bybit vs Binance both feature in the top three trading platforms when ranked by trading volumes and user trust scores. Both are very reliable crypto exchanges that target to attract different types of traders. 

What is Bybit?

Bybit was launched in 2018 and is now one of the big three cryptocurrency trading platforms, recently crossing 60 million global users. The virtual asset service provider became popular for offering a diverse range of trading services, particularly its derivatives trading and spot trading with very high leverage. 

Bybit is also one of the best cryptocurrency exchanges to earn passive income with options for staking, liquidity mining, yield-protected investments, and Bybit Earn. Bybit fees are among the lowest in the industry, one of the key features that have attracted traders.

It is one of the best exchanges for copy trading. Users gain access to the strategies of a wide range of successful traders on Bybit's copy trading platform. The crypto exchange also supports running multiple trading bots. Traders can run up to 50 trading bots for futures contracts, 50 for spot trading, and 50 for margin trading.

For a more comprehensive overview of the trading features on Bybit and how you can take advantage of them, be sure to check out our detailed Bybit review.

Pros and Cons of Bybit

Who is Bybit best suited for?

Bybit is the best cryptocurrency exchange for you if you are looking for a user-friendly and intuitive trading platform that prioritizes derivatives trading. Its copy trading platform with many skilled traders also makes it great for new traders finiding their feet.

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What is Binance?

The first name that comes to mind when crypto exchanges are mentioned is Binance. By a large margin, Binance is the largest cryptocurrency exchange in the world, used by over 252 million individuals and institutions worldwide.

Binance stands as the biggest Crypto Asset Service Provider (CASP), having been granted a license in several jurisdictions, including Bahrain and Dubai. It is truly unmatched in terms of the sheer size of trading volume and features offered.

The Binance exchange backs this unrivaled liquidity with a wide range of trading options, including futures trading, spot trading, margin trading, leverage trading, options trading and more. The Binance Smart Chain also facilitates the development of decentralized applications (dApps), making the cryptocurrency exchange more versatile.

Pros and Cons of Binance

Who is Binance best suited for?

Binance is perfect for crypto traders and investors looking for a wide selection of cryptocurrencies and trading pairs, high liquidity and trading volume, or a comprehensive suite of features. It also has an extensive library of advanced trading tools.

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Bybit vs Binance: Trading Tools & Features

If you're looking to choose between Bybit vs Binance, a great place to start is the trading tools and features they offer.  Both Binance and Bybit offer a wide range of trading options. They include:

Binance takes this category, as it offers similar features to Bybit but has more base account currencies that users can trade with and options trading. Binance also has a more extensive library of advanced trading tools. This makes Binance great for experienced traders.

Bybit vs Binance: Coins Supported, Liquidity & Volume

In considering Bybit vs Binance which is better, it's also very useful to look at the coin supported, liquidity, and volume. A digital asset service provider should offer a wide range of options for users.

It also is important to operate on a cryptocurrency exchange with high trading volume to avoid price slippage. Price slippage can greatly affect your profits and affect your trading strategies.

Both cryptocurrency exchanges have a good list of supported coins, liquidity, and trading volume. However, let's see how Bybit vs Binance compare against each other.

Bybit wins this category by a large mile, offering significantly more listed coins and trading pairs than Binance. This makes Bybit perfect for experienced traders with high trading volume needs.

Bybit vs Binance: Fees & Charges

Bybit vs Binance fees is one of the most important categories to check. While the Bybit vs Binance trading fees are among the most competitive in the crypto space, there are still some key differences.

Bybit fees vs Binance are slightly lower, giving the cryptocurrency exchange this category. However, Bybit doesn't support bank transfers and limited fiat currencies. Binance also has Binance Pay for deposits and withdrawals, enabling users to choose an option with the lowest fee structure.

Bybit vs Binance: Security & Compliance

Security and compliance are key features every trader should pay attention to before picking a crypto exchange.

The Bybit vs Binance security comparison shows that both crypto exchanges have robust security measures. Both exchanges have cold storage to ensure user funds are safe. Binance wins this category with advanced measures and the SAFU insurance fund. However, it has faced the most regulatory issues among crypto exchanges.

Bybit vs Binance: User Experience

As for user experience, Bybit and Binance differ.

Binance Trading Interface

Bybit Trading Interface

This category is subjective, with Binance going for a comprehensive and customizable approach while ByBit goes with a clean, intuitive, and user-friendly interface.

Bybit vs Binance: Customer Support

How good the customer support is is also a vital aspect to be considered when you want to pick a cryptocurrency exchange. Here's a comparison of Bybit vs Binance in this area:

It's a close call choosing between Bybit vs Binance in terms of customer support. Although Binance may have more resources and ways of getting help, Bybit wins this category as it has one of the best customer support teams.

Bybit vs Binance: Referral & Affiliate Programs

Cryptocurrency exchanges offer a referral program to attract new users, raise brand awareness, and retain customers. Here's how Bybit vs Binance compare in this category.

You can use the Binance Referral Code O0BTS35V to earn up to a $100 sign-up bonus and a 10% trading fee discount. New users can earn up to $30,000 using the Bybit Referral Code PZM3LW.

Bybit clears this category by a large mile, offering more opportunities to earn and bigger bonuses via its referral program. 

This Bybit vs Binance comparison shows that they are both good, reliable cryptocurrency exchanges that will meet the needs of most regular and seasoned traders. While Binance has more services on offer, Bybit comes out on top in most of the Bybit vs Binance categories. It is a reliable option for traders who want a premium derivatives platform.

FAQs

Is Bybit a reliable cryptocurrency exchange?

One of the most trustworthy crypto exchanges is Bybit as it scores very highly on customer reviews.

Are there any exchanges better than Binance?

Binance does everything consistently great and is the reason why it remains the best crypto exchange.

Which is more beginner-friendly, Bybit or Binance?

Bybit's interface is generally considered more user-friendly and intuitive, particularly for derivatives trading. It's designed to be clean and efficient, making it easier for traders to navigate and place orders.

Which exchange has lower fees?

While they both have very similar fee structures, Bybit offers lower spot trading fees and futures trading fees than Binance, making it more attractive for high volume traders.

Which cryptocurrency exchange offers better security?

Both cryptocurrency exchanges offer comparable levels of security; however, Bybit's record of zero security breaches and AI risk engine give it the edge over Binance.

Which exchange has more trading pairs and higher liquidity?

Bybit has more trading pairs at 1,800+, compared to Binance's 1,300+. However, Binance has the largest liquidity in the entire industry.