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

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2 days ago

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MEXC vs Bybit: Which is the better choice? Choosing a crypto exchange for trading involves considering a couple of factors. You have to ensure that your chosen exchange can meet your needs and make your trading experience as easy as possible. Factors like onboarding processes, deposit and withdrawal methods, and regulatory compliance should contribute to your choice of exchange. 

In this article, we compare MEXC and Bybit—two major crypto exchanges—to help you make a well-informed decision.

Key Takeaways

• MEXC is a popular crypto exchange that allows the buying and selling of coins. It is famous for its relaxed KYC policy.
• Bybit is the second-largest exchange by trading volume. It is popular for derivatives trading. 
• The better choice depends on your trading needs.

MEXC vs Bybit: Overview

MEXC and Bybit are two of the leading exchanges in the market. So, to choose which is better for your needs, you have to consider specific factors like the types of tradings they offer, coins offered, security, and the safety of your funds. 

Bybit has a trading volume of over $8 billion and serves 60 million users in 160 countries. The exchange currently has about 1700 coins listed including popular and new coins. 

MEXC on the other hand, has a trading volume of over $3 billion and serves 30 million users in 170 countries. It currently has over 3000 coins listed. 

What is MEXC?

MEXC is a cryptocurrency exchange that allows users to trade cryptocurrencies. It was launched in 2018 and has become one of the leading crypto exchanges in the market. With its headquarters in Seychelles, MEXC serves users in over 170 countries. The exchange is especially known for its commitment to privacy as it offers KYC-free (Know Your Customer) trading. 

MEXC offers features and services like spot trading, futures trading ( up to 200x leverage), copy trading, demo trading, and staking. To find out more about the exchange’s features, trading limits, app performance, trading pairs, and security features, refer to our full MEXC review.

Pros and Cons of MEXC

Who is MEXC suitable for?

MEXC is suitable for both beginner and advanced traders. The exchange’s simple interface makes it suitable for beginners. At the same time, it has advanced trading features that appeals to seasoned traders. In addition to this, MEXC offers both popular and new coins, allowing users to pick whichever is suited to their risk and experience level. 

In addition to this, MEXC is perfect for users who want to maintain their privacy by avoiding identity verification. The exchange offers different verification levels: unverified, primary KYC, and verified plus. Unverified users have a withdrawal limit of 5 BTC every 24 hours.

What is Bybit?

Bybit is another popular crypto exchange. Like MEXC, it was launched in 2018 by Ben Zhou and now serves over 194 countries with approximately 60 million users worldwide. According to Coinmarketcap, Bybit is currently the second largest crypto exchange by trading volume. 

Bybit offers a diverse array of features and services including Spot trading, Derivatives (USDT perpetuals, USDC perps, inverse perps, futures, USDC options, leveraged tokens), NFT marketplace, Bybit Earn, and Options trading.

For more detailed analysis of Bybit’s features, read our full Bybit review.

Pros and Cons of Bybit

Who is Bybit suitable for?

Bybit works for beginners and experienced traders. For traders, Bybit offers copy trading and demo trading. Copy trading allows you to copy experienced traders while demo trading allows you to practice your trading strategy without using actual money. For expert traders, there are advanced tools to take advantage of swift price movement.

MEXC vs Bybit: Trading Tools & Features

Both exchanges offer good trading options. But it is worthy of note that Bybit is the better option if you want more advanced trading features. MEXC focuses more on spot trading and less on advaned derivatives trading. This also makes MEXC the better option for beginners who mainly want to convert one coin to another. 

In addition to the features and services listed in the table, Bybit also offers:

• Bybit Card: Bybit provides a free virtual and physical card that can be delivered to your doorstep for free through DHL. Your Bybit card is compatible with Apple Pay, Samsung Pay, and Google Pay.
• TradeGPT: Trade smarter by using Bybit’s AI powered tool. This feature provides users with advanced market insights, sentiment analysis, risk management, predictions, and trade strategy recommendation.
• Islamic account: In the spirit of inclusion, Bybit offers a Shariah compliant account with no interest for muslims.

MEXC vs Bybit: Coins Supported, Liquidity & Volume

It is important to consider the number of coins listed on each exchange. As this gives you an idea of whether they list a lot of new and upcoming project coins or not. 

Both exchanges offer popular coins like BTC, ETH, SOL, and so on. They also offer new coins, however, MEXC lists more new coins. If you are more focused on trading established coins like BTC, Bybit is the perfect choice. However, if you want newer coins, you might want to go with MEXC. 

In terms of liquidity, both exchanges are almost on the same level. Considering fiat support, Bybit is the clear winner as it allows more currencies than MEXC. 

MEXC vs Bybit: Fees & Charges

Frequent traders know that trading fees can rack up really fast, especially if your trades are in high volumes. So, even though fees might look small, in actual reality, you want to go for the exchange with the cheapest trading fee. 

Both exchanges do not charge fees for deposits. But Bybit charges a fee for spot trading. Bybit’s fees for futures trading is also more expensive. Considering these, MEXC is the clear choice if you want to minimize the amount spent on trading fees. 

MEXC vs Bybit: Security & Compliance

From history, we’ve seen exchanges fold up due to lawsuits and regulatory compliance issues. And most times, it is the users who suffer loss of funds. So, it is important to consider compliance, as well as the security of your assets. 

MEXC and Bybit both have cold storages (offline storages that are immune to hacks) for users’ funds, ensuring that no matter what happens to the exchange, you can recover your funds. Both exchanges have also been sued in countries like the US, UK, and Singapore. Bybit for example, has been under investigation by the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) for its trading activities in the country. 

It is important to know that both exchanges also operate in a lot of countries even though they are not outrightly licensed, opening them up to regulatory issues.

While it doesn’t seem like one is worse than the other in terms of security and regulatory compliance, in terms of KYC verification, MEXC is preferable. MEXC offers KYC-free trading while Bybit requires all users to complete KYC verification before trading. For users who are particular about privacy, MEXC is the best choice. 

MEXC vs Bybit: User Experience

MEXC and Bybit offer web apps and mobile apps (Android and iOS) for on-the-go trading. The interfaces might take some getting used to, but they are both intuitive and easy to navigate. 

Bybit’s spot trading interface on the web app features a trading chart, order book, and buy/sell order fields. 

MEXC’s spot trading interface shows a trading chart, order book, buy/sell order fields, and token pairs. The interface looks slightly congested, making Bybit the winner in this category. Even though Bybit’s web interface is less clustered and easier to navigate, MEXC’s mobile app is more beginner-friendly because Bybit is more tailored to advanced traders and offers advanced tools that might be a bit overwhelming for beginners. However, once you get a hang of it, both apps are user-friendly. 

MEXC vs Bybit: Customer Support

Customer support is vital in navigating any platform, and it is even more important when your money is involved. Here’s a comparison of both exchanges:

Both exchanges have generally positive feedback from users. They also have a common user complaint of slow response time during high-traffic hours. 

MEXC vs Bybit: Referral & Affiliate Programs

Apart from making profits from your trades, referral, and affiliate programs are also ways of making some extra cash. Both MEXC and Bybit have referral and affiliate programs. 

While MEXC offers rewards only on a commission basis, Bybit offers commission and token rewards. However, MEXC’s commission rate is higher. So, you choose which is more important to you. 

Conclusion

Again, the choice of exchange depends on your needs. Bybit has better referral rewards, a less clustered web interface, higher liquidity and trading volume, as well as advanced tools and features. On the other hand, MEXC has lower trading fee, KYC-free trading, and more listed coins and trading pairs.  

While they both have their strengths and weaknesses, overall, users seem to be more satisfied with Bybit. However, you should choose what works for you.

FAQs

Is MEXC a reliable exchange?

Yes, MEXC is a reliable exchange. Your assets are insured and the security is tight. 

Are there any exchanges better than Bybit?

Each exchange has its strengths and weaknesses so, “Better” is relative and it depends on what you need. But there are exchanges with higher liquidity, trading pairs, coins listed, and trading volume.

Which is more beginner-friendly, MEXC or Bybit?

Bybit’s user interface is less clustered, and easier to understand for beginners. So, Bybit is more beginner-friendly. 

Does MEXC or Bybit have better mobile apps?

Generally, both exchanges have well-rated mobile apps. However, Bybit is considered to be more feature-rich, making it ideal for advanced traders, while MEXC is simpler and easier to use for beginners. 

Which exchange has lower fees?

MEXC has lower fees. It charges a 0.020% Takers fee for futures trading and zero fees for spot trading, deposits, and withdrawals. 

Which exchange offers better security?

Both exchanges have similar security measures including 2 Factor Authentication, Anti-Phishing codes, and withdrawal passwords. This leaves it up to the users to make sure that their information is not compromised. 

Which exchange has more trading pairs and higher liquidity?

MEXC has more trading pairs, but Bybit has higher liquidity. 

What are the deposit and withdrawal options on MEXC and Bybit?

MEXC supports crypto deposits and withdrawals but does not support direct fiat withdrawals. To withdraw fiat on MEXC, you have to use third-party services. 

Bybit on the other hand supports fiat and crypto withdrawals and deposits.