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Transferable to your own wallet
Self-custody of cryptocurrencies plays an important role for many users who want to manage their cryptocurrencies and thus their "private keys" themselves and not leave them in the hands of the exchange. Most exchanges offer the option of sending the purchased cryptocurrencies to their own wallet.
Deposit protection is a safeguard for the assets of users of a stock exchange or broker, which is intended to protect investors in the event of insolvency or a high loss due to a hacker attack. Service providers based in Germany are legally obliged to provide deposit protection of €100,000. In some cases, international exchanges have a special insurance policy that covers a certain portion of the assets instead of a deposit guarantee.
The overall rating is the average of our individual ratings. Our ratings do not constitute investment advice, but merely our personal opinion. You are welcome to use them as rough indicators and additional perspective. In the dynamic and fast-growing crypto sector, parameters can often change from one day to the next, so we cannot guarantee that the rating data is up to date. Therefore, please never use our ratings as an isolated basis for decision-making and not as a substitute for your own research.
This rating describes our personal assessment of the user-friendliness of the product. How easy is the onboarding process? How modern is the user interface and is it easy to use? Are all the important functions quick and easy to find? We ask ourselves all these questions in order to give a personal rating from 1 to 10 points.
This rating describes our assessment of the fee structure of a stock exchange or broker. It is not only the amount of fees that can differ, but also the type of fees. The most common type of fees for crypto exchanges are the "maker/taker" fees or spreads. In some cases, there are also hidden fees that are not recognizable to users at first glance.
For products or services in the crypto space, trust and security should be the biggest factors in the selection process. Since we could not seriously evaluate the technical security of a platform or product, we analyze publicly available factors such as security features, location, regulation, certifications, audits, team/company, general reputation and, of course, track record.
Crypto doesn't have to be cryptic. Especially for beginners, the first contact with the crypto world can be overwhelming. With this rating, we give our assessment of how easy it is for beginners to find their way around: from the onboarding process to using the most important functions.
Customer support is an important factor for many users. A long wait or no response at all in the event of problems can be frustrating, especially when it comes to sensitive topics such as finances. With this rating, we give our assessment of the quality of customer support. In order to provide as balanced an assessment as possible, we also include user opinions from other platforms in our evaluation.
Some exchanges and brokers are regulated by financial supervisory authorities in certain countries/states. This often entails strict financial regulatory requirements and compliance requirements to which the company must adhere. Regulatory clarity can contribute to greater transparency and thus also greater trustworthiness.
Bybit vs Gate.io in comparison
Overview
- Clear trading view
- Large selection of trading tools
- Low fees
- Might be complex for beginners
- Global platform still under assessment by the Seychelles FSA
- 1,464 crypto assets with an active spot market on gate.com
- Spot fees of 0.10% maker and taker at the entry tier on gate.com and Gate's EU site
- USDT perpetual futures at 0.02% maker and 0.05% taker, with leverage up to 200x on BTC
- A proof-of-reserves report with a 117% total reserve rate
- MiCA authorization for Gate's EU company in Malta
- No named license and no named operating company for the global gate.com platform
- gate.com does not accept US residents; Gate US offers spot trading only and does not operate in six states, among them New York and Texas
- Gate US accounts have no protection from the Federal Deposit Insurance Corporation or the Securities Investor Protection Corporation
- A product menu that is hard to learn for first-time buyers, in our view
Features Comparison
- Cryptocurrencies
- Cryptocurrencies
0.1
%
0.10%
0.10%
Varies
0.1
%
0.10%
0.10%
Varies
393
+
$
1
1464
+
$
1
Exchange Rating
Functions
- Spot, derivatives, bot trading, and copy trading8
- Bybit Earn
- Launchpad
- Spot market for over 2,000 pairs
- Margin trading with up to 10x leverage
- Copy trading function
Company Details
Our Review
Bybit is a top platform for advanced traders, offering extensive derivatives and leveraged trading options with competitive fees. It excels in security and user experience but may be complex for beginners due to its advanced features. Geographical restrictions, particularly in the U.S., limit access, and withdrawal fees can vary. Overall, Bybit is well-suited for experienced traders looking for sophisticated tools and high-risk trading opportunities, but beginners should approach with caution.
In our view, Gate.io suits experienced traders who want 1,464 crypto assets, 0.10% spot fees at the entry tier and futures with up to 200x leverage on gate.com. US residents use Gate US, a separate company with fees of 0.25% maker and 0.40% taker. For a first purchase, we rate Coinbase higher for beginners.
Low Fees vs Maximum Selection
Bybit and Gate.io both target traders but optimize for different things. Bybit offers a cleaner interface. Gate.io offers more coins than almost any exchange. Both charge 0.10% spot fees at the entry level, so choose based on whether you prioritize the interface or the coin selection.
Fee Comparison
On spot, Bybit and Gate.io both charge 0.10% maker and taker at the entry level of their global platforms. On perpetual futures, Bybit charges 0.02% maker and 0.055% taker.
Coin Selection
Gate.io lists 1,464 cryptocurrencies with over 2,000 trading pairs. If you're hunting for smaller altcoins before they hit major exchanges, Gate.io has them.
Bybit offers more than 350 cryptocurrencies, substantial but less than a third of Gate.io's selection.
Trading Features
Both platforms serve traders with derivatives, copy trading, and professional tools. Bybit gets praised for its clear trading view and large selection of trading tools.
Gate.io offers margin trading with up to 10x leverage and an enormous spot market.
Trust Scores
Bybit scores 8.5/10 overall; Gate.io scores 7.2/10. The 1.3 point gap reflects Bybit's better execution and interface despite smaller selection.
Your Choice
Bybit at 8.5 serves traders who prioritize low fees and clean execution.
Gate.io at 7.2 serves altcoin hunters who want maximum selection.
About the author
At Exchange Flow, Ethan is recognized as the resident crypto expert. With 10+years of experience navigating the waters of global crypto exchanges, Ethan is a trusted voice in the ever-evolving world of digital currencies. He tests and scrutinizes exchanges so you don’t have to, offering reviews and articles that newbies and seasoned traders alike find invaluable. When he’s not coding, Ethan likes to travel and play retro games. He uses his crypto earnings to fund his trip around the globe.
