BtcTurk vs ByBit: Fees, Coins, Safety Comparison
| Feature | BtcTurk | ByBit |
|---|---|---|
Overall |
2.8 |
4.9 |
1 |
3.1 |
|
2.6 |
5.0 |
|
3.6 |
5.0 |
|
Investment Instruments |
1 |
5.0 |
Platforms and Charting Tools |
3.5 |
4.9 |
Deposit and Withdrawal |
3.3 |
4.0 |
Research |
3.9 |
4.2 |
Education |
3.4 |
4.1 |
Support |
3.3 |
4.5 |
Bonuses |
2.4 |
5.0 |
|
Your capital is at risk.
|
BtcTurk vs ByBit: Pros and Cons
The BTCTurk exchange is an international cryptocurrency trading platform. The trading here is fast and the margin uses a proprietary terminal based on the TradingView platform. The terminal is represented by a mobile application for iOS and Android in addition to the web and desktop iterations. Bitcoin, Litecoin, Ethereum, Ripple, Stellar, Cardano, Tron, and other popular cryptocurrencies are traded on the exchange. Only the Turkish lira (TRY) represents fiats since the exchange is Turkish. Nevertheless, residents of different countries actively cooperate with it, since the website offers a convenient terminal, low commissions, and large trading volumes. The BTCTurk cryptocurrency exchange doesn’t offer investment solutions, referral programs, or other options for passive earnings. It is exclusively focused on active traders.
The Bybit cryptocurrency exchange first appeared in 2018. It is a standalone derivatives trading platform with inverse and perpetual futures contracts with up to 1:100 leverage. Quarterly USD futures are available at Bybit in combination with BTC, ETH, XRP, EOS, LTC, and multiple tokens. There is a linear futures contract on BTC/USDT. The exchange has several technological advantages: it provides for mutual insurance of market participants against possible sharp price movements. There are offsets for long and short positions, and there is market depth.
| BtcTurk | ByBit | |
|---|---|---|
| Overall Pros | two trading modes – for novice and experienced traders; | Trading With Leverage up to 1:100 |
| no deposit fees; | Derivatives, NFT Available | |
| low withdrawal fees; | Zero fee spot trading | |
| transparent cooperation, the cryptocurrency exchange is licensed; | Deposit Fee – 0% | |
| advanced terminal criteria with push notifications; | Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | |
| high level of protection (97% of funds in cold wallets); | Strong Research | |
| variety of cryptocurrencies, there is an exchange with fiat funds; | ||
| API for algorithm trading. | ||
| Overall Cons | the only fiat is the Turkish lira (TRY); | No tier-1 regulation |
| there are no passive earning options. | No Fiat Deposit and Withdrawal |
BtcTurk vs ByBit: Safety and Regulation
| Regulated By: | BtcTurk | ByBit |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
BtcTurk vs ByBit: Trading Conditions
| Trading Conditions | BtcTurk | ByBit |
|---|---|---|
Minimum Deposit |
0.0001 BTC |
$1 |
Trading Platforms |
TradingView |
ByBit |
Max Leverage (Futures) |
44562 |
1-100 |
Number of Markets |
100+ |
320 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Bank cards and accounts, electronic and cryptocurrency wallets |
Crypto |
BtcTurk vs ByBit: Fees
Trading Fees
| Fee | BtcTurk | ByBit |
|---|---|---|
Max Maker |
0.10% |
0.1% |
Max Taker |
0.18% |
0.1% |
Min Maker |
0.10% |
0.1% |
Min Taker |
0.18% |
0.1% |
Debit/Credit Card Purchase Fee |
Not supported |
0 |
Futures Trading fees
| Fee | BtcTurk | ByBit |
|---|---|---|
Max Maker |
Not supported |
-0.025% |
Max Taker |
Not supported |
0.075% |
Min Maker |
Not supported |
-0.025% |
Min Taker |
Not supported |
0.075% |
Non-Trading Fees
| Fee | BtcTurk | ByBit |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
Not supported |
- |
Debit/Credit Card Withdrawal Fee |
Not supported |
0 |
BTC Withdrawal Fee |
0.0005 BTC |
0.0005 BTC |
Inactivity Fee |
No |
No |
BtcTurk vs ByBit: Trading Assets
| Asset Name | BtcTurk | ByBit |
|---|---|---|
Overall |
100+ |
320+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
No |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
No |
Yes |
NFT |
No |
Yes |
Crypto ETF |
No |
No |
BtcTurk or ByBit: Investment Programs
| Asset Name | BtcTurk | ByBit |
|---|---|---|
Staking |
No |
Yes |
Mining pool |
No |
Yes |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
Liquidity mining, Principal-Protected Investment, Guaranteed yield savings |
Trading Platforms: ByBit or BtcTurk
| BtcTurk | ByBit | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Trading Platforms Features: ByBit or BtcTurk
| BtcTurk | ByBit | |
|---|---|---|
SMS Based 2 FA |
No |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: ByBit or BtcTurk
| BtcTurk | ByBit | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: ByBit or BtcTurk
| BtcTurk | ByBit | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: ByBit or BtcTurk
| BtcTurk | ByBit | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
No |
No |
Trailing Stop |
No |
No |
BtcTurk vs ByBit: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | BtcTurk | ByBit |
|---|---|---|
Bank Transfer |
Yes (Only Deposit) |
No |
Credit/Debit Card |
No |
Yes |
Electronic Wallets |
No |
Yes |
Crypto |
Yes |
Yes |
BtcTurk vs ByBit: Research
| Research Type | BtcTurk | ByBit |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
Yes |
BtcTurk vs ByBit: Education
| Education Type | BtcTurk | ByBit |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
No |
Yes |
Webinars |
No |
No |
ByBit vs BtcTurk: Support
| Support Features | BtcTurk | ByBit |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
No |
Yes |
Other |
Ticket |
Telegram |
BtcTurk vs ByBit: Crypto Bonuses and Promo
| Promo | BtcTurk | ByBit |
|---|---|---|
Crypto Bonus |
Bug Bounty program |
Complete tasks and get up to $580 |
Affiliate Program |
No |
$20 per invited user, up to $50 deposit bonus |
|
Your capital is at risk.
|
Top 5 Reviews on ByBit
-
Comment
Bybit educational resources have really helped my early career in crypto trading. The trainings from videos, and seminars is helping me learn how to make more informed decisions on traders. Also guides to trading in bear markets, how to protect your account, a guide to MT4 crypto trading, are informative and I am really improving as a trader. There is also the ByBit Learn portal which is where I got to learn how to use the platform. The demo trading interface is rich and friendly but it took me time to carefully identify each feature. Although I don’t know how some of these indicators work for now but I know I will over time.
-
Comment
The Bybit designed for every level of crypto traders. the simple user interface has been helpful. I only have one concern but I cannot say it is an issue at the moment. This has to do with when i reached out with the customer care to inquire if i can trade futures. The response that i can trade a range of USDC-settled contracts including both USDC Perpetual and USDC Futures Contracts came, but when it did i was off my screen and attending to other things. Can't say if the slow response is due to network or other external issues. I don't know if it is too early to conclude that the customer service is slow.
-
Comment
Guys, it is normal to see trading as a game of chance. Nonetheless, iif you can learn how to use analyze financial markets using tools like line charts, indicators, and other trading tools, you will minimize the rate at which you lose out on profitable trades when you trade with real money. When you register on a platform like Bybit, get familiar with the various trading tools available and how to use them. There are also useful tools you can use to see what will happen if a trade goes your way or against you. Just like the one tool I use daily before I open a trade position which is the pre order calculator. I use this tool to calculate and know the possible profit and loss and ROI if I open trade with any strategy I created
-
Comment
At first I doubted whether to work with Bybit. The conditions here are favorable, but I was still afraid to work with the company I knew nothing about. But I decided to try with small amounts and realized that the broker works well. The money was withdrawn quickly and the fee was minimal, so I stopped being afraid. I’ve been a grateful client of this company for six months now!
-
Comment
I was looking for a reliable exchange and paid attention to Bybit, which has long been on the market and has a good reputation. My friend, who has been trading on Bybit for many years, also recommended this company. Now, after a few years I consider myself a more experienced trader and I am sure that I chose the right one. I am pleased with Bybit’s work, although the income is not too high, but stable. Withdrawals are very fast, but everything depends on the chosen payment system.
Top 5 Reviews on BtcTurk
-
Comment
The conditions in BtcTurk are bad, and even interfere with trading, I traded here more than a year ago, and when it came time to withdraw money, I couldn’t even withdraw the deposit!!! I can't take it out for a year now..........!!! One day I decided that there was no point in waiting.
-
Comment
Worked with BtcTurk a few years ago. They "play" against the client. And it’s true that they don’t let you earn money. I know what will happen next, with those who are now trading with them. Disappointment and regret. They will definitely deprive you of money, do not even hesitate.
-
Comment
After the scandal with the bankruptcy of the Turkish Thodex exchange, as well as the tightening of Turkish legislation regarding cryptocurrencies, the interest in all Turkish exchanges of citizens of other countries has fallen. But amid these scandals, the rating of other crypto exchanges registered in Turkey has risen. One of them is the BtcTurk trading platform. The trading volumes here are less than they were on the Thodex exchange, but still pretty substantial. Also, the recently increased liquidity of the Turkish lira has increased trading volumes. The BtcTurk platform offers good conditions for traders from other countries. Although all the same, the target audience is still the citizens of Turkey. Accounts can only be opened in TRY, BTC, or USDT. You can trade other cryptocurrencies as well, but there are not many of them. The terminal is ordinary, with price charts, quotes, and trading history. If it were not for a good opportunity to speculate on the Turkish Lira exchange rate, and its low commissions, the BtcTurk exchange would not stand out in any way. Taking into account the advantages, profitable trading is quite real here.
-
Comment
The BtcTurk exchange has many opportunities for trading. But a very small listing of crypto coins, no more than 10-15, and just one fiat. These are significant disadvantages. However, there are also enough pluses, such as acceptable commissions, and the commissions are small. Also, crediting and withdrawals are carried out without commissions. Opening an account in a Turkish bank is problematic for me, so I am considering payments through a crypto wallet. There are limits for the deposit and withdrawal of cryptocurrency, but they are quite acceptable for me. There is no leverage for trading on the BtcTurk exchange, this should be taken into account when registering.
-
Comment
After the scam of the Thodex exchange, I stopped trusting Turkish crypto exchanges. But the problem is that I have already opened an account with BtcTurk. And BtcTurk is far from perfect. When I registered, I accepted the documents without any problems. I brought 0.5 BTC to the exchange and decided to trade. So they blocked my access and demanded to show a Turkish document. But I'm not a resident of Turkey. Now, I'm afraid that BtcTurk will not return the money to me.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.