This guide compares two of the most important crypto exchanges, Bybit vs. Binance.

Both platforms are global crypto exchanges with strong user bases and a vast palette of trading options for beginners and experienced traders.

In our review of Bybit vs Binance, we’ll break down the platforms’ backgrounds, user experience and interfaces, trading features, fees, products, available assets, security measures, transparency, regulatory statuses, and the platforms’ pros and cons to help you make the most well educated decision when it comes to choosing the best crypto exchange for your needs.

Bybit vs Binance – Crypto Exchanges’ Backgrounds and Offerings

This section of our Bybit vs. Binance review details the crypto companies’ launch years, global reach, and core features.

What is Binance?

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Binance is a centralized crypto exchange launched in 2017 by Changpeng Zhao, known as CZ.

Digital Assets Available, Users, Reach

• The exchange offers over 400 digital assets for its global users.
• Binance has over 270 million registered users.
• The global crypto exchange is available in over 100 countries.

Trading Volume and Total Assets

Over the past six months, Binance’s 24-hour trading volume exceeded $20 billion, the highest trading volume of all the crypto exchanges we reviewed so far.

The crypto exchange has over $136 billion in total assets.

Core Products, Services, Features

Binance’s most important products and services include:

• Binance Wallet
• Binance Pay platform
• Basic and advanced trading services
• Futures trading
• Simple and advanced Earn
• Staking services
• Launchpool and Launchpad platforms
• Campaigns and rewards platforms, including HODLer Airdrop and Megadrop
• NFT Marketplace
• Education and research platforms

Binance’s core features include:

• Strong emphasis on security, following strict KYC rules
• Compliance with regulatory legislation with 21 global licenses
• User assets security via SAFU
• High transparency via PoR
• A US branch, Binance US
• Low fees

What is Bybit?

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Bybit is a centralized crypto exchange headquartered in Dubai and founded in 2018 by Ben Zhou.

Digital Assets Available, Users, Reach

• Bybit offers traders over 650 digital assets.
• The crypto exchange offers its services and products to over 70 million users.
• Bybit is available wordlwide in over 70 countries.

Trading Volume and Total Assets

Over the past six months, Bybit’s 24-hour trading volume recorded an average of over $2.5 billion. The crypto exchange has over $15.5 billion in total assets.

Core Products, Services, Features

Bybit’s most important products and services include:

• A derivatives market
• Bybit Earn
• Bybit Savings
• Liquidity Mining
• Dual Asset Tool
• ETH 2.0 Staking Product
• Double Win
• Wealth Management
• Launchpool and Launchpad platforms
• NFT Marketplace
• Bybit Card
• P2P Trading
• VIP Program

Bybit’s core features include the following:

• Competitive fees
• Strong security measures
• Commitment to compliance and regulatory standards
• Transparency initiatives via PoR

Based on our Bybit vs Binance review, the CZ-founded crypto exchange has a wider global reach, more users, and higher trading volume and total assets. In terms of product offerings, both exchanges provide a vast selection of options for users.

Binance vs Bybit: UX and UI

While analyzing Binance and Bybit platforms, we found that both crypto exchanges offer user-friendly interfaces that provide complex, yet easy-to-navigate platforms.

The onboarding process is similar and easy on both crypto exchanges, which reveal high security measures, requiring the following steps:

• Sign in.
• Complete KYC verification.
• Deposit/buy crypto.
• Start trading.

The crypto exchanges’ dashboards are similar, providing user account and asset information.

Binance offers user data along with estimated balance, market-related data, and details on Earn and Copy Trading. Binance Square provides important news, and users have the option to check out the latest personalized news as well.

Binance’s dashboard stands out compared to Bybit’s, especially due to the fact that it shows asset-related data in real time, while Bybit’s dashboard may have delays regarding user assets after trading.

The two crypto exchanges provide options for beginners and more experienced users, but, based on our Binance vs. Bybit review, Binance offers more in-depth guides and information about its products, along with insightful research.

Both apps and web platforms performed well.

Bybit vs Binance: Trading Features

In this section of our Bybit vs. Binance review, we’ll list the most important trading types and related features, so that you can see a clear comparison between them.

Spot Trading on Bybit vs Binance

Bybit’s Spot Market offers a straightforward and effective trading experience.

Binance Spot allows users to trade crypto, providing real-time data on prices, technical indicators, charts, analysis, and more.

Futures Trading on Bybit vs Binance

Bybit’s Futures Trading offers users the option of trading futures and perpetual contracts settled in USDC, USDT, and other digital assets. Bybit also offers Inverse Perpetuals, contracts settled in the base crypto of the pair that is traded.

Binance Futures also includes contracts settled in USDT, USDC, and other crypto, while providing USDT options with limited downside and affordable entry. Binance features Inverse Perpetuals available as COIN-margined contracts.

Here’s a clearer side-by-side Bybit vs. Binance comparison regarding futures trading:

Feature	Bybit	Binance
Contract Types	Futures, Perpetuals, and Options	Futures, Perpetuals, and Options
Settlement Currencies	USDC, USDT, and other digital assets	USDT, USDC, and other cryptocurrencies
Inverse Perpetuals	✅ Yes – settled in the base crypto of the trading pair	✅ Yes – available as COIN-margined contracts
Options (USDT-settled)	✅ Yes – introduced April 2025; BTC/USDT & ETH/USDT contracts; European-style, cash-settled	✅ Yes – limited downside, affordable entry, USDT-settled
Options (USDC-settled)	✅ Yes – offered before April 2025	✅ Yes – available and currently supported
Options Style	European-style – exercised only at expiration	European-style – exercised only at expiration

Margin Trading on Bybit vs Binance

Margin trading is a way of using funds provided by a third party to conduct asset transactions, and allows traders to get more funds and support them in using positions.

Binance Margin allows users to boost profits with leverage, offering:

• Over 600 trading pairs
• High liquidity
• Responsible trading
• Insurance fund
• Cooling off period
• Reliable security

To get started on Margin Trading, Binance offers users tutorial videos to learn more about the type of trading on the exchange.

Bybit’s Spot Margin Trading is a derivative product of Spot trading that allows users to invest with borrowed funds to boost returns. The borrowed funds will be used to amplify trade profits on a successfully leveraged position in low or high-volatility markets.

Bybit’s Spot Margin Trading offers the following:

• Magnified trading revenue
• Support for long/short position trading
• Improved capital utilization
• Diversification of assets

Both exchanges offer cross-margin and isolated margin.

Cross margin allows users to share the margin balance across all open positions, which means that if one position starts losing money, the system automatically uses the available balance from the users’ other positions to prevent liquidations.

Isolated margin isolates the margin for each individual position, and if the position moves against the user, only the margin allocated to that trade is at risk.

Advanced Features – Copy Trading and Trading Bots

While reviewing Bybit vs Binance crypto exchanges, we found that both offer advanced features, including Copy Trading and Trading Bots.

Bybit vs Binance: Copy Trading

Copy trading allows users to follow other traders’ strategies, simplifying their trading experience.

Bybit provides three options regarding Copy Trading:

• Copy Trading Classic – Allowing users to copy other trading strategies
• Copy Trading Pro – Offering Pro Masters’ strategies selected based on specific criteria
• Copy Trading Gold&FX – Allowing the copying of Gold&FX strategies with ease

Binance’s Copy Trading option includes Futures and Spot sections, and information on how to copy trade.

Bybit vs Binance: Trading Bots

Bybit’s Trading Bot allows users to match with the right trading bot, allowing the creation of:

• Futures Grid – Offering profit from market swings and ideal for volatile markets
• Futures Martingale – Allowing a quick recovery from losses and ideal for volatile markets
• Futures Combo – Maintaining an auto-rebalancing portfolio, ideal for all market conditions
• Spot Grid – Allowing to buy low and sell high automatically 24/7, ideal for sideways markets
• DCA – Allowing steady and consistent investments, ideal for long-term growth

Binance’s Trading Bots section allows the creation of bots for traders. When the price drops and hits the buy order, the bot will place a sell order, and when the price rises and hits the sell order, the bot will place a buy order.

Binance Trading Bots service also includes the following:

• A rebalancing bot
• Spot DCA
• Spot algo orders

Bybit vs Binance: Fee Comparison

In this Bybit vs Binance fees section, we’ll compare the maker/taker fee structure, spot and futures trading fees for both crypto exchanges, while also addressing withdrawal fees or hidden taxes.

Bybit vs Binance: Maker/Taker Fee Structure

Both crypto exchanges have competitive low fees.

Binance’s fees decrease significantly with higher 30-day trading volume if users hold BNB and pay fees with it. The crypto exchange has a complex, tiered fee system, with various fee discount options available.

Bybit’s fees are mostly aimed at derivatives and spot margin traders, while maker fees can be negative for high volumes. Bybit’s fees depend on the users’ 30-day trading volume and BYT token holdings in the case of derivatives.

A maker adds liquidity by placing an order that doesn’t fill immediately, and a taker takes liquidity by placing an order that fills immediately.

Here’s a comparison between Bybit vs Binance maker/taker fees for spot, futures, and options.

Spot, Futures, Options Trading Fees on Bybit vs Binance

Binance’s spot trading fees for maker/taker are 0.075%/0.075% with a BNB discount, and 0.1%/0.1% without a BNB discount.

Binance’s futures trading fees for maker/taker are 0.02%/0.05%, without the possibility of a BNB discount at the moment.

Binance options fees for maker/taker are 0.03%/0.03%.

Bybit’s spot trading fees for maker/taker are 0.1%/0.1%, in the case of non VIP users. The crypto exchange has various fees for VIP users, according to their VIP levels, starting from 0.0675%/0.08% for VIP 1.

Bybit’s fees for perpetual and futures are 0.02%/0.05% for non VIP users, and start from 0.018%/0.04% for VIP 1 level.

Bybit’s options fees are 0.02%/0.03% for non VIP users, and start from 0.015%/0.02% for VIP 1 level users.

Below, we reveal a table featuring Bybit vs Binance fees for spot, futures, and options, based on the data presented above:

Type	Platform	Maker Fee	Taker Fee	Notes
Spot Trading	Binance	0.075% (with BNB) / 0.1% (without BNB)	0.075% (with BNB) / 0.1% (without BNB)	BNB discount applies to fees
	Bybit	0.1% (non-VIP) / 0.0675% (VIP 1)	0.1% (non-VIP) / 0.08% (VIP 1)	Varies by VIP level
Futures	Binance	0.02%	0.05%	No BNB discount available
	Bybit	0.02% (non-VIP) / 0.018% (VIP 1)	0.05% (non-VIP) / 0.04% (VIP 1)	Called “perpetual and futures” on Bybit
Options	Binance	0.03%	0.03%	Flat rate
	Bybit	0.02% (non-VIP) / 0.015% (VIP 1)	0.03% (non-VIP) / 0.02% (VIP 1)	Tiered by VIP level

Deposit/Withdrawal Fees on Bybit vs Binance

Bybit doesn’t charge fees for internal transfers or on-chain crypto deposits into users’ accounts. On-chain withdrawal fees are charged depending on the different coins and chains selected.

Binance doesn’t charge deposit fees, and for each withdrawal, a flat fee is paid by users to cover the transaction costs of moving crypto out of their accounts.

Withdrawal fees are determined by the blockchain, and they can vary without notice due to multiple factors, including network congestion.

Potential Hidden Fees

There should be no hidden fees on Bybit or Binance, as both exchanges clearly state the amounts they take for all types of trading fees, and place a great emphasis on transparency and user security.

Bybit vs Binance: Security and Trust

As stated above, both crypto exchanges value user security and trust with various transparency-related features.

Both Bybit and Binance have complex KYC measures set in place for users onboarding the crypto exchanges.

Bybit Security and Transparency

Bybit prioritizes security via multiple layers of protection, and user funds are stored offline in cold wallets, ensuring protection against hacks.

The exchange employs the following:

• Advanced data encryption during storage and transit
• Strict authorization controls
• Real-time monitoring system analyzing user behavior
• Security testing
• Bug bounty programs to identify and mitigate potential vulnerabilities

Bybit is committed to compliance and regulation, and it has secured an MVP license in Dubai, adhering to global regulatory requirements.

The exchange’s transparency initiatives include publishing real-time data about holdings via PoR. It was also the first crypto exchange to publish real data regarding liquidations.

Binance Security and Transparency

Binance uses the following security measures:

• 2FA
• Biometrics
• Device management
• Whitelisting

The crypto exchange’s strong compliance with regulations is mirrored by its 21 global licenses, allowing it to become a licensed broker-dealer institution.

Binance also secures user assets via SAFU – its Secure Asset Fund for Users, which was created in July 2018 and is now valued at $1 billion.

Binance offers Proof-of-Reserves showing users’ assets are fully backed by at least 1:1. The verification mechanism used by the exchange is zk-SNARKs, with a Merkle Tree data encryption structure.

Past Incidents of Bybit vs Binance

After reviewing past incidents on Bybit vs Binance, we found that the most notable incident involving Binance was a cyberattack on October 4, 2022, which resulted in the theft of about 2 million BNB tokens for over $570 million in fiat.

Bybit, on the other hand, was involved in the biggest hack in the crypto industry, when, on February 21, 2025, the exchange suffered a security breach allowing hackers to steal $1.5 billion.

However, both crypto exchanges are working continually to enhance security measures to prevent such events from happening again.

Bybit vs Binance: Earn and Passive Income Products

Both crypto exchanges offer users Earn and other similar passive income products.

Bybit Earn, Savings, Staking, and Liquidity Mining

Earn

Bybit Earn offers users easy access to grow their crypto via a management platform that provides competitive yields and strong security. Bybit Earn is suitable for both beginners and experienced investors, offering various products tailored to different risk appetites and investment goals.

Savings

Bybit Savings is a one-step investment center with a suite of products (Flexible Term and Fixed Term) that offer users flexibility and high returns.

Flexible Term savings allow users to deposit and withdraw funds at any time, offering flexibility, and Fixed Term savings require locking in crypto for a specified period to earn higher guaranteed returns.

Staking

Bybit’s on-chain Earn section offers users the chance to mint USDe, stake SOL, and BTC.

Liquidity Mining

The Liquidity Mining section on Bybit allows users to earn yield via liquidity provision. Users can also add leverage to maximize yields, which can be reinvested anytime.

The Dual Asset product allows users to earn high APR while waiting for the buy/sell target.

Binance Earn, Staking, Loans

Earn

Binance’s Earn section offers Simple and Advanced Earn options and Loans.

Simple Earn helps users earn passive income from Savings and Staking, allowing them to earn rewards by depositing crypto into Flexible/Locked periods.

Advanced Earn offers Dual Investment and On-Chain Yields. Dual Investment is a high-yield structured financial product allowing users to buy low or sell high at a specific price and date in the future, earning rewards regardless of market trajectory.

Staking

Binance provides staking services for SOL and ETH.

Loans

Binance also offers three types of loans:

• Flexible Rate Loan, which allows users to borrow for Spot/Margin/Futures
• VIP Loan, designed for institutional investors
• Fixed Rate Loan, allowing users to borrow and supply at chosen fixed interest rates

Bybit vs Binance: Launchpool and Launchpad

While reviewing the Binance and Bybit platforms, we noticed that both crypto exchanges offer users access to Launchpool and Launchpad, but they have different uses.

Bybit’s Launchpool platform allows users to stake multiple cryptos to earn project tokens for free, with the flexibility to redeem staked tokens anytime. The platform also allows borrowing.

Bybit’s Launchpad platform allows users to get early access to tokens from promising projects.

Binance’s Launchpool and Launchpad platforms allow users to launch projects, helping and advising teams on how to best issue and launch tokens. Based on our previous Binance review, Launchpool has over 60 projects, and most of them offer users 4% of the supply.

Regulatory Status and Jurisdictions for Bybit vs Binance

Both crypto exchanges are fully regulated, following strict legislation rules. While Binance is available in over 100 countries, including in the US via its Binance US platform, Bybit is currently available in 70 countries worldwide.

However, Bybit does not offer its services in the US, and other countries, including Hong Kong, Singapore, Canada, France, the United Kingdom, North Korea, Cuba, Iran, Uzbekistan, Russian-controlled regions of Ukraine.

Binance is not available in Canada, the Netherlands, Cuba, the Democratic People’s Republic of North Korea (“DPRK”), Iran, Syria, the Crimea region, and any non-government-controlled areas of Ukraine.

In our review of Binance and Bybit platforms’ regulations and user safety, we highlighted that both crypto exchanges follow strict KYC rules when onboarding new users.

Final Verdict – Bybit vs Binance: Pros and Cons

Both crypto exchanges are strong names in the industry, each of them with tailored offerings and products suited for both beginners and professional users. Here are the most relevant pros and cons for Bybit vs Binance.

Category	Bybit – Pros	Bybit – Cons	Binance – Pros	Binance – Cons
User Base	70M+ users, strong growth	Smaller than Binance	Largest user base globally (270M+)	Larger scale may lead to slower support response
Trading Volume	$2.5B 24h avg (solid)	Lower liquidity than Binance	$20B+ 24h avg (top liquidity)	High volume can mean higher volatility
Asset Variety	600+ digital assets	Not available in US & key regions	400+ assets with global access	Fewer assets than Bybit
Derivatives	Advanced derivatives offering	Complex for beginners	Strong, accessible futures/options	US regulatory constraints limit some features
Fees	Competitive & tiered VIP discounts	Non-VIPs pay higher spot fees	Very low fees with BNB discounts	Complex tier system can confuse new users
Transparency	Real-time PoR, liquidation transparency	Past $1.5B hack in Feb 2025	zk-SNARK PoR, SAFU fund ($1B)	Past 2022 hack ($570M in BNB)
UI/UX	Clean, user-friendly, pro features	Slight delay in asset dashboard updates	Advanced dashboard & real-time data	Can feel cluttered for new users
Copy Trading & Bots	Multiple bot types & copy trade options	May be overwhelming for casual users	Simple, effective bots & copy trading	Fewer customization options
Passive Income	Dual Asset, Staking, Flexible/Fixed savings	Lower returns than some DeFi protocols	Simple & Advanced Earn, Loans	High yield products require locking funds
Regulation & Reach	Compliant, Dubai MVP license	Banned in US, UK, France, etc.	21 global licenses, Binance US	Regulatory scrutiny is high in multiple regions

There’s no exact answer to the question of which crypto exchange is better for users in the Bybit vs Binance comparison. Both of them offer multiple services and products and cater to various types of traders.

While Bybit is more suited for derivatives traders, Binance offers more DeFi and staking options, also providing P2P trading. It all depends on what you’re looking for as a trader.

Based on our Bybit vs Binance review, Bybit might seem more complicated for beginners. compared to Binance. Also, it’s important to mention that US users have the option of trading on Binance US, while Bybit is currently not offering services in the region, which can be a downside for interested traders in the USA.

Overall, both crypto exchanges are complex with a vast palette of trading options and services, while having competitive fees for users and strong security measures implemented.

FAQ

Bybit vs Binance: Which crypto exchange is better for trading?

It depends on your needs. Binance is better for users seeking a wide range of services, global availability (including Binance US), and more educational content.

Bybit is more appealing for advanced traders, especially those focused on derivatives and copy trading.

How do Bybit’s fees compare to Binance’s fees?

Both offer competitive fees, but Binance has lower spot trading fees, especially with BNB discounts. Bybit offers tiered VIP discounts that can lower costs for high-volume traders, particularly in derivatives.

What are the futures trading fees on Bybit vs Binance?

Bybit and Binance both charge 0.02% maker and 0.05% taker fees for futures.

Bybit VIP users can access lower rates, while Binance does not currently offer discounts for futures fees, even when using BNB.

Is Bybit available in the United States like Binance US?

No, Bybit is not available in the United States. Binance, on the other hand, offers a separate platform, Binance.US, specifically for American users.

Which platform offers better passive income products: Bybit or Binance?

Binance offers more options, including Simple Earn, Advanced Earn, and various loan products. Bybit provides flexible savings, dual asset products, and liquidity mining, but Binance generally has more variety and support for DeFi-related earnings.