Bitget and Bybit have emerged as two of the most prominent cryptocurrency exchanges, boasting millions of active users and offering diverse services, including spot trading, perpetual futures contracts, trading bots, copy trading, launchpads, staking, and a Web3 ecosystem. While Bitget is renowned for its expansive copy-trading capabilities, Bybit shines in the derivatives market, known for its high liquidity.
When evaluating their fee structures, Bybit presents slightly lower taker fees than Bitget, with rates of 0.055% compared to 0.06%. Both exchanges prioritize security, employing various measures like two-factor authentication (2FA), anti-phishing codes, withdrawal address whitelisting, cold storage, and Proof of Reserves (PoR) to safeguard users’ assets. Notably, Bybit faced a significant security breach in 2024, losing approximately $1.4 billion in exchange funds. However, user funds remained unaffected.
Comparing their offerings, Bitget and Bybit have similar origins, both founded in 2018, with Bitget headquartered in Singapore and Bybit in Dubai. Bitget has around 120 million registered users worldwide and operates in over 150 countries, while Bybit has approximately 78 million users and is available in over 180 countries.
Fees and Trading Options
In spot trading, both Bitget and Bybit charge approximately 0.10% for both maker and taker trades, which reflects the industry standard. Users can reduce fees by using their respective native tokens. Bybit offers users a 25% fee discount when paying with MNT, dropping the fee to 0.075%, whereas Bitget offers a 20% discount using BGB, which lowers the spot trading fee to 0.08%.
In terms of futures trading, both platforms maintain a base maker fee of 0.02%. However, Bybit’s taker fee of 0.055% is more appealing compared to Bitget’s 0.06%. Users can further reduce fees through their respective VIP programs, which cater primarily to high-volume traders.
Both exchanges facilitate free cryptocurrency deposits and charge only network fees for withdrawals. Fiat transactions are more complex, often relying on third-party processors, which can incur additional costs.
Unique Features and Trading Instruments
Bitget is recognized for its extensive offerings in copy trading and perpetual futures. It features a large ecosystem of elite traders, where users can mimic successful trading strategies. Its trading tools allow for spot margin trading up to 10x and up to 125x leverage on specific options.
Conversely, Bybit has solidified its reputation as a leader in derivatives, offering a variety of perpetual contracts and the ability to trade options. It also boasts high-performance tools and interfaces designed for serious traders.
Bybit’s unified trading account allows for the flexible use of multiple cryptocurrencies and stablecoins as collateral, while Bitget’s unified account facilitates seamless transferring of funds across various trading forms without manual intervention.
Security and Compliance
Security is paramount for both exchanges. They utilize cold storage for the majority of funds and regularly conduct audits to maintain transparency. The Proof of Reserves system allows users to verify the existence of their assets on the platform.
Regulatory compliance is another critical aspect. Bitget has voluntarily excluded services to specific countries like the U.S. and Canada to adhere to regulations. Meanwhile, Bybit has established a presence in various regulated markets, ensuring it complies with localized rules.
Regional Availability
Both exchanges have restricted access in heavily regulated nations such as the U.S., Canada, and Singapore. However, they remain accessible in numerous other regions worldwide. Bitget is available in about 150 countries, while Bybit extends its services to over 180 nations.
Choosing Between Bitget and Bybit
Ultimately, the choice between Bitget and Bybit depends on user trading preferences. Bitget excels in copy trading and offers a wide range of altcoins, making it suitable for less experienced traders and those seeking automatic trading solutions. On the other hand, Bybit is more attuned to serious derivatives traders, providing deeper liquidity, advanced trading tools, and robust compliance measures.
Users should assess their trading style, preferred features, and security requirements before choosing the platform that best aligns with their needs.
