ByBit vs Bithumb: Fees, Coins, Safety Comparison
| Feature | ByBit | Bithumb |
|---|---|---|
Overall |
4.9 |
4.0 |
3.1 |
4.0 |
|
5.0 |
3.9 |
|
5.0 |
4.2 |
|
Investment Instruments |
5.0 |
4.3 |
Platforms and Charting Tools |
4.9 |
4.2 |
Deposit and Withdrawal |
4.0 |
3.8 |
Research |
4.2 |
3.9 |
Education |
4.1 |
3.8 |
Support |
4.5 |
4.0 |
Bonuses |
5.0 |
4.1 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs Bithumb: 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.
Bithumb is a cryptocurrency exchange and trading platform. Only the Korean won is represented among the broker’s fiat currencies. In addition to making money on the crypto exchange, users can receive passive income using deposit programs. There is also the possibility of automatic trading through a custom bot. Major cryptocurrencies are traded on the exchange, including Bitcoin, Ethereum, Ripple, EOS, DASH, Zcash, Monero, etc. Deposits and withdrawals of funds are possible through credit cards and crypto-wallets. The personal data protection system is assessed as progressive and there is an extended AML verification. The platform has its proprietary trading terminal, which has two versions — web and mobile (in Android and iOS). Only a cold storage (not connected to the internet) method for holding cryptocurrencies is presented.
| ByBit | Bithumb | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | all major cryptocurrencies are at your disposal; |
| Derivatives, NFT Available | fees are below average for the segment; | |
| Zero fee spot trading | high trading volumes equal high liquidity; | |
| Deposit Fee – 0% | well-thought-out investment portfolios; | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | top-notch support service; | |
| Strong Research | the user-friendly interface. | |
| Overall Cons | No tier-1 regulation | only a few dozen cryptocurrencies and tokens are presented; |
| No Fiat Deposit and Withdrawal | no fiat funds except the Korean won; | |
| no referral program. |
ByBit vs Bithumb: Safety and Regulation
| Regulated By: | ByBit | Bithumb |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
Financial Intelligence Unit (FIU) |
ByBit vs Bithumb: Trading Conditions
| Trading Conditions | ByBit | Bithumb |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
ByBit |
Bithumb |
Max Leverage (Futures) |
1-100 |
44562 |
Number of Markets |
320 |
32+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Crypto |
Cryptocurrencies, Korean won |
ByBit vs Bithumb: Fees
Trading Fees
| Fee | ByBit | Bithumb |
|---|---|---|
Max Maker |
0.1% |
0.25% |
Max Taker |
0.1% |
0.25% |
Min Maker |
0.1% |
0.04% |
Min Taker |
0.1% |
0.04% |
Debit/Credit Card Purchase Fee |
0 |
0 |
Futures Trading fees
| Fee | ByBit | Bithumb |
|---|---|---|
Max Maker |
-0.025% |
0.25% |
Max Taker |
0.075% |
0.25% |
Min Maker |
-0.025% |
0.04% |
Min Taker |
0.075% |
0.04% |
Non-Trading Fees
| Fee | ByBit | Bithumb |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
- |
Not supported |
Debit/Credit Card Withdrawal Fee |
0 |
Not supported |
BTC Withdrawal Fee |
0.0005 BTC |
0.001BTC |
Inactivity Fee |
No |
No |
ByBit vs Bithumb: Trading Assets
| Asset Name | ByBit | Bithumb |
|---|---|---|
Overall |
320+ |
193+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
No |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
ByBit or Bithumb: Investment Programs
| Asset Name | ByBit | Bithumb |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
Yes |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Liquidity mining, Principal-Protected Investment, Guaranteed yield savings |
Automatic Trading |
Trading Platforms: Bithumb or ByBit
| ByBit | Bithumb | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Bithumb or ByBit
| ByBit | Bithumb | |
|---|---|---|
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: Bithumb or ByBit
| ByBit | Bithumb | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Bithumb or ByBit
| ByBit | Bithumb | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Bithumb or ByBit
| ByBit | Bithumb | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
ByBit vs Bithumb: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | Bithumb |
|---|---|---|
Bank Transfer |
No |
Yes (Only Deposit) |
Credit/Debit Card |
Yes |
Yes (Only Deposit) |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
ByBit vs Bithumb: Research
| Research Type | ByBit | Bithumb |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
Yes |
No |
ByBit vs Bithumb: Education
| Education Type | ByBit | Bithumb |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Webinars |
No |
No |
Bithumb vs ByBit: Support
| Support Features | ByBit | Bithumb |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
No |
Other |
Telegram |
No |
ByBit vs Bithumb: Crypto Bonuses and Promo
| Promo | ByBit | Bithumb |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
30% from refferal's trading commission |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Bithumb
-
Comment
My experience with Bithumb regrettably fell short of expectations. The fee structure appeared disproportionately high, significantly diminishing potential gains. In light of these cons, I would cautiously advise against entrusting one's assets to Bithumb.
-
Comment
Found a better exchange. Bithumb immediately attracted me, but then I realized that they were weak in terms of conditions. There are better markets. Also, there were problems with the service, then a freeze, then a delay, all this affects the quality of trading, so I decided to find a better company. And found! I wish everyone to find the perfect crypto exchange for their needs.
-
Comment
Whoever has funds on the Bithumb crypto exchange, withdraw them to another exchange and quickly, otherwise there is a risk that your account may be blocked, like me. And most importantly, they blocked it for an incomprehensible and non-specific reason. They say that for security reasons, they promise that after checking the account, they will unblock it. They've been checking for over 3 weeks now! And there, by the way, they have my 550 dollars left!
-
Comment
I tried trading with Bithumb Global purely out of interest, after all, the exchange is more for the Asian market, and I thought that the conditions might be different. I won’t say that there is a difference between Bithumb Global and other exchanges with which I have collaborated, but I have received positive impressions from Bithumb Global. In terms of functionality, everything is familiar, but the conditions on the exchange are very favorable. For example, a fixed commission, liquidity is extremely high when trading basic cryptocurrencies, deposit programs at Bithumb Global are not bad. Of the nuances, I note that there are no fiat currencies here. More precisely, there is, but only the Korean won. And there are not many assets in Bithumb Global, a couple of dozen. I do not recommend the exchange for scalping.
-
Comment
I signed up on Bithumb in 2019 and since then I exchange Bitcoin and Ripple here from time to time. The interface of the trading terminal is so simple that even a beginner can figure it out. I can recommend this crypto exchange to novice traders since there is no minimum deposit and the trading commission is fixed. There are no educational articles or videos on the Bithumb website, so you will have to delve into the nuances of crypto trading with the help of other resources. However, the terms of trade are very favorable.
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.
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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.