Binance vs Bybit in comparison

Binance

We rate operation lower than functions and fees. Binance puts spot, margin, futures, options, stocks, Earn, P2P trading, copy trading and bots into one account, and in our view that breadth means many menus before a first-time user places a first trade. Users rate the apps well: 4.76 of 5 from 4,743,344 ratings on Google Play and 4.65 of 5 from 120,427 ratings on Apple's App Store in Britain.

Bybit

Bybit runs on the web and in apps for iOS and Android, and Bybit EU has its own app. In our view, one account for spot, derivatives, copy trading and bots works well once you know what you want to trade, but the number of products and order screens takes time to learn.

App store users rate the main app well: 4.72 on the UK App Store from 5,195 ratings, 4.74 on the German App Store from 7,438 ratings and 4.6 on Google Play from 1.43 million reviews. The Bybit EU app has 4.55 on the German App Store from 360 ratings.

Binance

Functions and offer is one of the two criteria we rate highest. By our count of Binance's market data, 416 crypto assets have an active spot market; Binance also lists 87 tokenized US stocks and ETFs (bStocks), and counting those, it has 1,372 active spot pairs in all. Derivatives cover USD-margined and coin-margined futures, options and TradFi perpetuals: 788 USD-margined contracts were trading in the data we read, 213 of them on stocks, indices, commodities and currencies. Where it is offered, you can also trade US stocks and ETFs, with clearing and custody by Alpaca Securities. Around the exchange sit Earn and staking, Auto-Invest for recurring buys, Convert, P2P trading, copy trading and trading bots, Binance Pay and the self-custody Binance Wallet. Two things are gone or limited: the NFT service on the exchange has closed and moved to Binance Wallet, and the Binance Card is offered only to residents of Brazil.

Bybit

Bybit's range covers spot, spot margin, perpetual and dated futures, inverse contracts and options, plus copy trading, grid and dollar-cost averaging bots, Bybit Earn, crypto loans, a P2P market, TradFi products through MT5 and 11 tokenized US stocks on spot.

The limits: Bybit EU lists 108 crypto assets and no USDT or USDC perpetual or futures contracts, and in the UK Bybit relaunched with spot trading and P2P. Bybit closed its NFT marketplace in April 2025. In our view, the range is broad for traders, and we rate it a little lower than Kraken's.

Binance

Fees are, with functions, the criterion we rate highest. Spot trades cost 0.10% for maker and taker orders at the entry tier, and 0.075% when you pay the fee in BNB. Rates fall with 30-day volume, down to 0.011% maker and 0.023% taker at VIP 9. USD-margined futures with USDT contracts start at 0.02% maker and 0.05% taker. Bitcoin deposits are free. Buying through Buy Crypto costs more: 2% by card, Apple Pay or Google Pay, 1.5% with PayPal and 1 EUR by SEPA transfer. Withdrawals carry a flat fee per coin and network that Binance publishes on its fee page and changes with network conditions without notice, so check the current amount before you withdraw. For context, OKX charges 0.08% maker and 0.10% taker at its global entry tier.

Bybit

Fees are the criterion we rate highest for Bybit. Spot trading starts at 0.10% maker and 0.10% taker at VIP 0 and falls to 0.030% maker and 0.045% taker at Supreme VIP. Perpetual and futures contracts start at 0.02% maker and 0.055% taker, and options at 0.02% maker and 0.03% taker. Crypto deposits are free, and P2P trades carry no Bybit fee.

Costs rise for spot pairs against a fiat currency (0.20% taker), for xStocks (0.20%), for One-Click Buy, where the third-party provider sets the fee, and on Bybit EU (0.25% on spot). In our view, Bybit is among the cheaper exchanges for regular trading; our ranking of exchanges by fees shows how other platforms compare.

Binance

We rate security and trust below functions and fees. In Binance's favor: since January 2026 its global platform has been regulated by the FSRA in Abu Dhabi, a separate custody company holds client assets under ADGM client-asset rules, and Binance publishes a proof-of-reserves snapshot every month. Its hot wallets were hacked in May 2019 (7,000 BTC) and in October 2026 (about $6.3 billion, by Binance's count), and both times Binance said it would cover the loss itself. Against it: in November 2023 the group company pleaded guilty in the US to anti-money laundering, money transmitting and sanctions violations, and the four US actions required it to pay over $4.3 billion; we found no primary source saying the monitorships that followed have ended. There is no deposit insurance, no outside auditor for the reserve snapshots and no MiCA authorization in the EU.

Bybit

Security and trust is the other criterion we rate lowest for Bybit. In its favor, Bybit publishes regular proof-of-reserves reports, names two-factor and hardware authentication in its legal documents and announced a SOC 2 Type II audit by Deloitte, and Bybit EU holds a MiCA authorization from Austria's FMA.

Against it: about $1.5 billion was stolen from Bybit in February 2025, a theft the FBI attributed to North Korea. In our view, the reserve report after the hack is reassuring.

Binance

We rate beginner friendliness below functions and fees. Every account needs identity verification with a government ID and a liveness check before you can deposit or trade. Buying is simple through Buy Crypto, at 2% by card and 1 EUR by SEPA transfer, and Auto-Invest sets up recurring buys. The catch is the number of products and order types around them. If you are buying crypto for the first time, we think Coinbase is the easier start; we rate it higher for beginners.

Bybit

Beginner friendliness is one of the two criteria we rate lowest for Bybit. All products and services need at least Standard identity verification, which Bybit says usually takes about 15 minutes and at times up to 48 hours. Advanced adds proof of address and Pro adds extra due diligence, and the daily withdrawal limit rises from 1 million USDT at Standard to 2 million USDT.

Recurring Buy, One-Click Buy and P2P give newcomers simple ways in. In our view, the trading screens, the leverage on offer and the number of products make Bybit a better second platform than a first one.

Binance

We rate support lower than most other criteria. Binance says it offers 24/7 customer support in 40 languages.

Bybit

Bybit's help center has public articles on fees, identity verification and restricted countries, which we read for this review. For a problem, you submit a case to Customer Support; Bybit says you then receive an automated email with the case number and that the team replies within one working day, at least for verification issues. In our view, the help center is good for self-service, and the case system leaves you a written record.