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

When pitting Bybit vs BingX, it’s all about figuring out what fits your trading style. Both are heavy hitters in the crypto industry, and honestly, they’ve got a lot going for them. We’re talking features, fees, security, and regulation compliance. 

Whether you’re a newbie dipping your toes in or a seasoned trader chasing leverage, this breakdown will help you pick the winner for your needs. They’re both in the top tier of exchanges, so let’s see how they stack up in 2025.

Key Takeaways

• Bybit is best for derivatives trading and offers a slick, beginner-friendly experience, while BingX stands out with its social trading edge and forex options.
• BingX keeps fees low with sweet VIP discounts, but Bybit’s broader fiat support makes funding easier.
• Bybit got hit with a $1.5 billion hack in February 2025, shaking its security cred, while BingX had a smaller $43 million breach in 2024 but bounced back fast.

Bybit vs BingX: Overview

According to CoinMarketCap, Bybit ranks as the 2nd largest exchange, pulling in a hefty $8 billion in daily trading volume and serving over 60 million users across 160+ countries. It’s got a massive lineup of over 1,700 coins trading on the exchange.

BingX, meanwhile, sits a bit lower on the ladder but still packs a punch with a daily trading volume of about $5 billion. It’s got over 10 million users worldwide and lists 750+ coins. While it’s not as massive as Bybit, it’s carving out its space for itself with unique offerings.

What is Bybit?

Bybit is a cryptocurrency exchange that was launched in March 2018 by co-founder and CEO Ben Zhou, a former forex trading expert from China who transitioned into crypto after working for XM and building a YouTube following to educate traders, aiming to create a fast, derivatives-focused exchange. 

The exchange has quickly become a go-to for traders who focus mainly on derivatives trading. Majorly because they offer high leverage—up to 100x. It also has a sleek user interface that’s easy on the eyes and works for both newbies and pros. Want more details? Check out our full Bybit review.

Pros and Cons of Bybit

Who is Bybit suitable for?

Bybit works best for traders who like derivatives, such as futures with high leverage — up to 100x on coins like Bitcoin and Ethereum. This is most suitable for people who know the market well and want to make more from price changes. 

It’s also good for new traders because it has an easy-to-use design that’s not messy, so they won’t feel lost. Plus, it has a demo mode where beginners can try trading with fake money—like $100,000 worth—to practice without losing anything, helping them learn before using real cash.

What is BingX?

BingX is a crypto exchange that was founded in 2018 in Singapore as Bingbon (rebranded in 2021). It emerged from an anonymous team of finance and tech veterans from firms like J.P. Morgan, Google, Tencent, and Alibaba, led by a figure possibly named “Lee,” with a mission to build a social trading platform rooted in crypto’s inclusive potential. 

The exchange presently serves over 10 million users worldwide and has gained recognition for its emphasis on social trading, enabling users to replicate the strategies of experienced traders. Beyond cryptocurrencies, it provides access to forex, stocks, and commodities markets, complemented by staking opportunities and a Launchpad for early-stage projects.

Pros and Cons of BingX

Who is BingX suitable for?

BingX is a great pick for traders who enjoy social trading, where they can copy what skilled traders do, or for those who want to trade not just crypto but also things like forex, mixing regular markets with digital coins. 

It’s perfect for new traders who don’t want to figure everything out themselves and would rather follow the moves of experts instead. With social trading, BingX lets you pick from over 600 experienced traders, see their past results—like how much they’ve earned—and copy their trades with a few clicks, making it easy to get started without needing to know all the details of the market. 

For people interested in more than crypto, BingX offers trading in forex—like currencies such as the U.S. dollar or euro—plus stocks and commodities, all in one place, so you can spread your money across different types of investments.

Bybit vs BingX: Trading Tools & Features

Bybit holds an advantage with additional tools such as margin trading, options, and Spot ETFs. It also offers:

• TradeGPT (AI-Powered Assistant): TradeGPT is Bybit’s AI tool, built on GPT-3.5, delivering real-time market analysis and trading ideas. It provides insights like market sentiment, technical indicator breakdowns (RSI, MACD), and price predictions. Users can ask custom questions (e.g., “What’s BTC’s outlook?”) or use pre-set prompts for instant answers
• Islamic Account: Launched in 2024, this is the world’s first Shariah-compliant crypto account, developed with CryptoHalal and ZICO Shariah. Features no interest (riba-free), transparent fees, and no fund commingling, aligning with Islamic finance principles. Supports spot trading (75 Shariah-approved tokens), DCA bots, and Spot Grid bots for automated, ethical investing.   Targets Muslim traders globally, offering a faith-friendly way to trade crypto—a standout Bybit exclusive.

BingX, however, excels in its streamlined copy trading capabilities which allows users to mirror the trades of top performers effortlessly.  

Bybit vs BingX: Coins Supported, Liquidity & Volume

Bybit surpasses BingX in trading volume, coin variety, and fiat support breadth. However, BingX counters with a higher number of trading pairs.

Bybit vs BingX: Fees & Charges

Both exchanges align closely on spot trading fees, but BingX offers a marginal advantage in perpetual futures with a lower taker fee (0.05% vs. 0.055%). Deposits are free on both platforms, and withdrawal fees vary by cryptocurrency and network. 

Bybit vs BingX: Security & Compliance

Both platforms have strong security measures, including cold storage and 2FA. 

Bybit faced a $1.5 billion hack in February 2025, which was allegedly carried out by a group of North Korean hackers. The exchange had to take a loan to cover the losses. Even though it was swiftly handled by the exchange’s management and users didn’t lose their assets, the hack still significantly hurt Bybit’s reputation.

BingX also had a $43 million hack in September 2024. This hack was less severe than Bybit’s and the exchange quickly paid users back fully. 

It is also important to mention that BingX's services are not available to residents of the following countries: Canada, Mainland China, Hong Kong SAR, Macau SAR, Netherlands, Singapore, the United States (including all US territories), and the United Kingdom.

In the same vein, Bybit is restricted in the following countries: United States, Canada, United Kingdom, Mainland China, Hong Kong, Singapore, France, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine (Crimea, Donetsk, Luhansk), Sevastopol, Sudan, Syria

Bybit vs BingX: User Experience

BingX provides a simple, user-friendly experience with a clean website and a mobile app designed for beginners and social trading enthusiasts. It features TradingView charts, easy navigation, and a focus on copy trading with over 600 expert traders to follow. The app is fast and uncluttered, offering quick access to trading and assets. It suits newbies with no-KYC options (up to $50,000 withdrawal) and a demo mode, but has syncing issues between the web and mobile app.

Bybit offers a sleek, powerful user experience via its dark-themed website and mobile app, tailored for fast, advanced trading with a derivatives focus. The website has customizable TradingView charts and a Lite mode for beginners, while the app delivers quick trades and a demo mode in a polished package. With over 1,700 coins and extras like options, it’s built for pros but welcomes newbies, though some find its many features overwhelming. It’s ideal for traders seeking a robust, high-speed platform.

Bybit vs BingX: Customer Support

Bybit and BingX both provide customer support on a 24/7 basis; however, Bybit has a more efficient and dependable service structure. Bybit offers rapid live chat responses (typically under five minutes), prompt email support through [email protected] (often within hours), and a comprehensive Help Center replete with FAQs and instructional content.

Conversely, BingX ensures constant availability via live chat (approximately five-minute response times), email correspondence at [email protected] (responses within a day, though sometimes delayed), and notable multilingual support across more than 15 languages, including over ten Telegram community groups. Nevertheless, its performance is marred by inconsistent execution, with users complaining about unresolved issues and interrupted chats, though positive remarks on X highlight its accessibility and linguistic coverage.

Bybit’s refined and efficient support system makes it the superior option, whereas BingX excels in language coverage but falls short in reliability.

Bybit vs BingX: Referral & Affiliate Programs

BingX offers an enticing bonus program for new users in 2025, starting with a potential $5,000 sign-up bonus by using a referral code during registration. Beyond signup, you’ll earn 10-30 USDT just for registering and 5-500 USDT for completing KYC verification. Your first deposit unlocks tiered bonuses from $10 to $500 based on the amount, and making your first trade after depositing scores you a 5-500 USDT surprise box, keeping the rewards flowing as you engage with the platform.

Bybit also offers new users a chance to claim a $30,000 sign-up bonus using a promo code The bonus is delivered through various rewards like trading bonuses, deposit incentives, and free trading vouchers. The bonus breaks down into parts, mainly tied to deposit and trading activities: a $100 deposit paired with $500 in trades earns 10 USDT, with rewards scaling up based on deposit size and trade volume—reaching the full $30,000 requires a hefty $250,000 deposit and $150 million in crypto trades. Essentially, Bybit ramps up the perks as you dive deeper into the platform, making it a big win for high traders.

Conclusion

Bybit demonstrates superiority in trading volume, coin diversity, and feature richness, though its February 2025 security breach remains a notable concern—mitigated by effective management. BingX excels in social trading, competitive fees, and a resilient response to its 2024 incident. Below are their ratings:

FAQs

Is Bybit a reliable exchange?

Yes, Bybit remains a dependable platform, supported by a large user base and strong features despite its recent security challenge.

Are there any exchanges better than BingX?

Superiority depends on individual needs. But, of course, there are exchanges that rank higher than BingX; you can check out our futures trading exchange review for additional comparisons.

Which is more beginner-friendly, Bybit or BingX?

Bybit’s streamlined design slightly outshines BingX for novice traders.

Which exchange has lower fees?

BingX provides marginally lower futures taker fees (0.05% vs. 0.055%). Other fees are virtually the same.

Which exchange offers better security?

BingX currently holds an edge, given Bybit’s larger breach in 2025.

Which exchange has more trading pairs and higher liquidity?

BingX offers more trading pairs (1,068+), while Bybit leads in liquidity and volume ($8.3 billion).