ByBit vs Coinsbit: Fees, Coins, Safety Comparison
| Feature | ByBit | Coinsbit |
|---|---|---|
Overall |
4.9 |
2.8 |
3.1 |
1 |
|
5.0 |
3.6 |
|
5.0 |
3.3 |
|
Investment Instruments |
5.0 |
2.3 |
Platforms and Charting Tools |
4.9 |
2.6 |
Deposit and Withdrawal |
4.0 |
3.2 |
Research |
4.2 |
3.3 |
Education |
4.1 |
2.6 |
Support |
4.5 |
2.8 |
Bonuses |
5.0 |
3.1 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs Coinsbit: 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.
The Coinsbit exchange is a platform for exchanging, buying, and selling cryptocurrencies. The company trades Bitcoin, Ripple, Litecoin, Bitcoin Cash, Ethereum Classic, and other cryptocurrencies. Defi coins are represented by Swipe, Loopeng, Republic, SushiTokerm, and Compound, etc. There are stablecoins. Coinsbit features crypto-fiat pairs with eight world currencies, including the US dollar and the Russian ruble. There is classic and advanced trading, trading through Metamask and OTC. Passive earning options include staking into blockchain projects and the ability to provide P2P loans. You can receive additional payments for participating in trading contests and the Bug Bounty Vulnerability Search Bonus Program. There is a three-level referral program, and you can enter your own coin on the platform.
| ByBit | Coinsbit | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | the most popular cryptocurrencies are traded on this exchange; |
| Derivatives, NFT Available | there are eight crypto-fiat pairs; | |
| Zero fee spot trading | there’s the opportunity to invest profitably in the blockchain; | |
| Deposit Fee – 0% | loans in crypto; | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | convenient application for mobile trading; | |
| Strong Research | simplified and professional cryptocurrency trading; | |
| high level of security (cold storage and WAF); | ||
| high productivity (up to 10,000 trades per minute); | ||
| low but fixed commissions for trading operations; | ||
| Overall Cons | No tier-1 regulation | no call center; |
| No Fiat Deposit and Withdrawal | no training courses. |
ByBit vs Coinsbit: Safety and Regulation
| Regulated By: | ByBit | Coinsbit |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
ByBit vs Coinsbit: Trading Conditions
| Trading Conditions | ByBit | Coinsbit |
|---|---|---|
Minimum Deposit |
$1 |
0.00001 BTC |
Trading Platforms |
ByBit |
TradingView |
Max Leverage (Futures) |
1-100 |
44562 |
Number of Markets |
320 |
1 560+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Crypto |
Cryptocurrencies, fiat currencies |
ByBit vs Coinsbit: Fees
Trading Fees
| Fee | ByBit | Coinsbit |
|---|---|---|
Max Maker |
0.1% |
0.2% |
Max Taker |
0.1% |
0.2% |
Min Maker |
0.1% |
0.2% |
Min Taker |
0.1% |
0.2% |
Debit/Credit Card Purchase Fee |
0 |
0.8% |
Futures Trading fees
| Fee | ByBit | Coinsbit |
|---|---|---|
Max Maker |
-0.025% |
Not supported |
Max Taker |
0.075% |
Not supported |
Min Maker |
-0.025% |
Not supported |
Min Taker |
0.075% |
Not supported |
Non-Trading Fees
| Fee | ByBit | Coinsbit |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
USD 0.8% , Crypto - free |
Bank Transfer Withdrawal Fee |
- |
0.4% |
Debit/Credit Card Withdrawal Fee |
0 |
0.4% |
BTC Withdrawal Fee |
0.0005 BTC |
0.0005 BTC |
Inactivity Fee |
No |
No |
ByBit vs Coinsbit: Trading Assets
| Asset Name | ByBit | Coinsbit |
|---|---|---|
Overall |
320+ |
1 560+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
Yes |
Uniswap (UNI) |
Yes |
No |
Ripple (XRP) |
Yes |
Yes |
Polkadot (DOT) |
Yes |
No |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
Yes |
Yes |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
No |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
ByBit or Coinsbit: Investment Programs
| Asset Name | ByBit | Coinsbit |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
Yes |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Liquidity mining, Principal-Protected Investment, Guaranteed yield savings |
No |
Trading Platforms: Coinsbit or ByBit
| ByBit | Coinsbit | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Coinsbit or ByBit
| ByBit | Coinsbit | |
|---|---|---|
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: Coinsbit or ByBit
| ByBit | Coinsbit | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Coinsbit or ByBit
| ByBit | Coinsbit | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Coinsbit or ByBit
| ByBit | Coinsbit | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
ByBit vs Coinsbit: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | Coinsbit |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
ByBit vs Coinsbit: Research
| Research Type | ByBit | Coinsbit |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
Yes |
E-Mail Reports |
Yes |
No |
ByBit vs Coinsbit: Education
| Education Type | ByBit | Coinsbit |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Webinars |
No |
No |
Coinsbit vs ByBit: Support
| Support Features | ByBit | Coinsbit |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
Telegram |
No |
ByBit vs Coinsbit: Crypto Bonuses and Promo
| Promo | ByBit | Coinsbit |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
Trading contests, Bug Bounty Vulnerability Search Bonus Program |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
25% of commissions for first-level referrals; 15% of commissions for second-level referrals; 10% of the commissions of third-level referrals. |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Coinsbit
-
Comment
Coinsbit suffers from frequent technical issues, including slow transactions and unreliable performance during peak hours. Furthermore, the lack of transparency regarding fees and security measures raises concerns about the platform's integrity. I advise caution and recommend exploring alternative exchanges for a smoother trading experience.
-
Comment
Money is not withdrawn, information is not given, the specified phones are fake. Another kidalovo.
-
Comment
The support could not give clear answers to my questions, this indicates the frivolity of the company. It looks like everything is fake. Therefore, I think that especially for beginners, there is every chance to easily drain all the money.
-
Comment
This is an average exchange with average opportunities. Although I have been trading on Coinsbit for two years, I cannot call this platform above average. Yes, there are passive investing chips. But at the moment, many exchanges offer such investment and accept the same CNB coin that you could get for free not so long ago. Everyone expected the CNB rate to skyrocket, but it sank so that it makes no sense to sell CNB now. I still keep this token in the investment pool, but the profitability on it is very weak. I think the owners of the Coinsbit exchange should do some marketing work. Otherwise, clients will start scattering.
-
Comment
Everything suits me on the Coinsbit exchange and there are a very large number of crypto pairs here. The exchange is constantly listing and adding new crypto pairs. The support service works competently and always answers questions. So far, no controversy has arisen. The trading platform is good and deals are opened very quickly. I trade the main crypto pairs in most transactions, the demand and supply for them are high. I don’t use such functions as investing or 2P2 loans, trading is enough for me. The commissions for transactions are quite acceptable, and I did not notice that the exchange took commissions for input and output.
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.