ByBit vs Bitfinex: Fees, Coins, Safety Comparison
| Feature | ByBit | Bitfinex |
|---|---|---|
Overall |
4.9 |
4.0 |
3.1 |
2.7 |
|
5.0 |
4.5 |
|
5.0 |
4.0 |
|
Investment Instruments |
5.0 |
4.6 |
Platforms and Charting Tools |
4.9 |
5.0 |
Deposit and Withdrawal |
4.0 |
3.9 |
Research |
4.2 |
4.3 |
Education |
4.1 |
5.0 |
Support |
4.5 |
4.8 |
Bonuses |
5.0 |
4.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs Bitfinex: Pros and Cons
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.
Bitfinex was founded in 2012 and is one of the oldest cryptocurrency exchanges in the world. The cryptocurrency platform is registered in the British Virgin Islands. More than 170 cryptocurrencies are available on the exchange, as well as cryptocurrency futures and NFT. The disadvantages of the exchange include numerous proceedings with U.S. regulators, as well as several major successful hacks.
| ByBit | Bitfinex | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | Trading with leverage up to 1:100 |
| Derivatives, NFT Available | Derivatives are available | |
| Zero fee spot trading | Negative fees for large derivative traders | |
| Deposit Fee – 0% | Very essential discounts for LEO holders | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | ||
| Strong Research | Strong research | |
| Advanced trading platform | ||
| Overall Cons | No tier-1 regulation | Several successful hacks |
| No Fiat Deposit and Withdrawal | Multiple regulatory fines in the US | |
| $10,000 minimum deposit in fiat currencies |
ByBit vs Bitfinex: Safety and Regulation
| Regulated By: | ByBit | Bitfinex |
|---|---|---|
Government-regulated |
Yes |
No |
U.S Regulated |
No |
No |
FCA U.K Regulated |
No |
No |
Germany Regulated |
No |
No |
AMF in France Regulated |
No |
No |
Spain Regulated |
No |
No |
DFSA in UAE |
No |
No |
Singapore Regulated |
No |
No |
Australia Regulated |
No |
No |
Seychelles Regulated |
Yes |
No |
Other countries |
Austria’s Financial Market Authority (FMA), Georgia, Kazakhstan |
ByBit vs Bitfinex: Trading Conditions
| Trading Conditions | ByBit | Bitfinex |
|---|---|---|
Minimum deposit, USD or USDT |
1 |
10,000 |
Futures leverage |
100 |
100 |
Spot leverage |
10 |
10 |
Supported Coins |
638 |
350 |
Trading platform |
||
DFSA in UAE |
||
P2P |
1 |
0 |
Perpetual contracts |
1 |
1 |
ByBit vs Bitfinex: Fees
| Fee | ByBit | Bitfinex |
|---|---|---|
Spot Taker fee |
0.1 |
No |
Spot Maker fee |
0.1 |
No |
Futures Taker fee |
0.055 |
No |
Futures Maker fee |
0.02 |
No |
Deposit fee |
No |
No |
Withdrawal fee |
0.000111 ВТС 0.0015 ETH (ERC20) |
0.10% |
P2P taker fee |
No |
No |
P2P fee rate, maker fee |
No |
15 |
ByBit vs Bitfinex: Trading Assets
| Asset Name | ByBit | Bitfinex |
|---|---|---|
Coins Supported |
638 |
350 |
P2P |
Yes |
No |
Perpetual contracts |
Yes |
Yes |
NFT |
Yes |
No |
Crypto Options |
Yes |
No |
Futures |
Yes |
Yes |
ByBit or Bitfinex: Investment Programs
| Asset Name | ByBit | Bitfinex |
|---|---|---|
Staking |
Yes |
Yes |
Copy trading |
Yes |
No |
Yield farming |
No |
No |
Affiliate program |
Yes |
Yes |
Trading Platforms: Bitfinex or ByBit
| ByBit | Bitfinex | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Bitfinex or ByBit
| ByBit | Bitfinex | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
Yes |
Filters |
Yes |
Yes |
Technical Analysis: Bitfinex or ByBit
| ByBit | Bitfinex | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Bitfinex or ByBit
| ByBit | Bitfinex | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Bitfinex or ByBit
| ByBit | Bitfinex | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
Yes |
ByBit vs Bitfinex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | Bitfinex |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
No |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
ByBit vs Bitfinex: Research
| Research Type | ByBit | Bitfinex |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
Yes |
Yes |
ByBit vs Bitfinex: Education
| Education Type | ByBit | Bitfinex |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
Bitfinex vs ByBit: Support
| Support Features | ByBit | Bitfinex |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
Telegram |
No |
ByBit vs Bitfinex: Crypto Bonuses and Promo
| Promo | ByBit | Bitfinex |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
Up to 38% |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Bitfinex
-
Comment
I like how Bitfinex handles security. The multi-stage verification felt a bit long at first, but after going through it, I feel safer trading here than on other platforms I’ve tried. The custom order features are a huge plus for me as I can fine-tune my trading strategy. However, I wish they had more direct customer support options because getting responses through alternative channels can sometimes be slow.
-
Comment
Bitfinex is great for experienced traders like me who need advanced tools and options. I’ve used their staking feature for a few months, and it’s been pretty decent, with steady returns. The interface, especially on the desktop version, is well designed and easy to navigate. That said, the fiat fees can get a bit high, so I mostly stick to crypto-only trades to avoid them. All in all, it’s been a reliable platform for my needs.
-
Comment
Honestly, I didn’t expect much when I first started using Bitfinex, but it’s actually surprised me in a good way. The first thing that got me hooked was how easy it is to execute trades, especially during crazy market swings. I’m talking about times when other platforms freeze up, Bitfinex kept running smoothly. The advanced trading features, like margin and stop orders, are awesome but not overwhelming. I also really appreciate how tight their security is. Every time I log in or make a move, I get instant notifications, so I know my account’s in good hands. On the flip side, their fees could be better. It’s not terrible, but sometimes I feel like I’m paying more than expected. Withdrawals are quick though, no hiccups there.
-
Comment
What stands out to me with Bitfinex is the huge variety of crypto pairs they offer. The platform is user-friendly, especially the mobile app which I use most of the time. One thing that could be better is the verification process, it took quite a while to get through it, but once it’s done, withdrawals are smooth. I mainly do margin trading, and the leverage up to 1:100 for derivatives has worked well for me. Just be mindful of the fees, which can add up with smaller trades.
-
Comment
The customer support provided by Bitfinex is often slow and unresponsive, leaving users feeling frustrated and unsupported. I cannot recommend Bitfinex as a reliable or trustworthy crypto exchange option.
Top 5 Reviews on ByBit
-
Comment
I chose Bybit for the ability to work with different order types and risk management. I often use stops and take-profits, and everything works fine here. My deposit was 800 USDT, and I traded futures with moderate leverage. A few trades closed in loss, a few in profit, and the overall result was almost zero. The platform didn’t get in the way, which is already a plus.
-
Comment
I was looking for an exchange with a user-friendly mobile app so I could manage trades not just from a PC. Bybit’s app turned out to be functional, almost like the web version. I registered, completed basic verification, and deposited around 300 USDT. I traded spot, without leverage. Profits were small, around 25 USDT over two weeks. For me, it’s more of a practical tool than anything outstanding.
-
Comment
I considered Bybit as an alternative to my main exchange to diversify risks. I was interested in the hedging tools and perpetual futures. I started with the demo mode, then deposited 1,000 USDT. I mainly traded BTCUSDT and SOLUSDT. I liked the execution speed and the terminal’s stability during high-volatility periods. After a month, I ended up almost even, with a modest gain of around 12%, and experienced no major issues.
-
Comment
Bybit — один из самых известных криптовалютных брокеров и биржевых сервисов в мире цифровых активов. За последние годы платформа заметно выросла, расширила функционал и превратилась из площадки для деривативов в полноценную экосистему для трейдинга, инвестирования и хранения криптовалюты. Первое, что бросается в глаза — это удобство интерфейса. Платформа выглядит современной, логично структурированной и подходит как для начинающих, так и для продвинутых трейдеров. Навигация интуитивная, а торговый терминал предоставляет все необходимые инструменты для анализа: графики TradingView, индикаторы, различные типы ордеров, настройку плеча и риск-менеджмента. Bybit предлагает широкий выбор инструментов: спотовая торговля, фьючерсы, бессрочные контракты, опционы, копитрейдинг, стейкинг, launchpad-проекты и earn-программы. Это делает платформу универсальной — здесь можно не только активно торговать, но и инвестировать более консервативно. Отдельно стоит отметить высокую ликвидность и скорость исполнения ордеров. Проскальзывания минимальны, особенно на популярных торговых парах. Для активных трейдеров это критически важный фактор. Комиссии у Bybit конкурентные и ниже среднерыночных, особенно при использовании токена платформы или при больших торговых объемах. Система уровней VIP дополнительно снижает издержки для активных пользователей. Также стоит отметить мобильное приложение — оно стабильное, быстрое и функционально почти не уступает десктопной версии. Поддержка работает достаточно оперативно, а база знаний и обучающие материалы помогают быстрее освоиться на платформе.
-
Comment
I registered on Bybit primarily for derivatives and the ability to trade with leverage. Before that, I was trading spot on another exchange. Here, I opened a Unified Trading Account to avoid confusion between balances. I tested both spot and futures trading, with turnover of around 15–20 thousand USDT over a couple of weeks. Fees were standard, nothing unexpected. I didn’t make much profit, about 70 USDT, but overall the platform left a neutral impression.
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.
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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.
