ByBit vs PaxFul: Fees, Coins, Safety Comparison
| Feature | ByBit | PaxFul |
|---|---|---|
Overall |
4.9 |
4.1 |
3.1 |
3.9 |
|
5.0 |
4.5 |
|
5.0 |
3.2 |
|
Investment Instruments |
5.0 |
4.1 |
Platforms and Charting Tools |
4.9 |
3.4 |
Deposit and Withdrawal |
4.0 |
5.0 |
Research |
4.2 |
2.5 |
Education |
4.1 |
5.0 |
Support |
4.5 |
3.9 |
Bonuses |
5.0 |
2.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs PaxFul: 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 Paxful exchange is a peer-to-peer trading platform for Bitcoin, Tether, and Ethereum trading instruments. There are over 350 ways to buy and sell these cryptocurrencies. The company has its offices in 21 countries and has almost 5 million active users. A free cryptocurrency wallet, which is provided when registering on the exchange, is among the distinctive features. The security system is based on a safekeeping account, where the funds of the seller and the buyer shall be reserved to avoid the dishonesty of one of the parties.
| ByBit | PaxFul | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | Low P2P fees |
| Derivatives, NFT Available | The platform is fully localized and translated into 21 languages | |
| Zero fee spot trading | Hundreds payment methods, from bank transfers to e-wallets; | |
| Deposit Fee – 0% | Over 12 thousand reliable sellers and buyers | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | Free Bitcoin wallet with BitGo is enabled; | |
| Strong Research | Pafull pay for business | |
| You change Bitcoin for any services and goods | ||
| Overall Cons | No tier-1 regulation | Limited number of suported coins - only ETH, BTC, USDT |
| No Fiat Deposit and Withdrawal | Limited analytics and educatioin |
ByBit vs PaxFul: Safety and Regulation
| Regulated By: | ByBit | PaxFul |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
ByBit vs PaxFul: Trading Conditions
| Trading Conditions | ByBit | PaxFul |
|---|---|---|
Minimum Deposit |
$1 |
$1 |
Trading Platforms |
ByBit |
Paxful |
Max Leverage (Futures) |
1-100 |
1:1 |
Number of Markets |
320 |
100+ |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Crypto |
BTC, USDT, ETH, 100+ fiat currencies for exchange |
ByBit vs PaxFul: Fees
Trading Fees
| Fee | ByBit | PaxFul |
|---|---|---|
Max Maker |
0.1% |
1% for sellers, 0% for buyers |
Max Taker |
0.1% |
1% for sellers, 0% for buyers |
Min Maker |
0.1% |
1% for sellers, 0% for buyers |
Min Taker |
0.1% |
1% for sellers, 0% for buyers |
Debit/Credit Card Purchase Fee |
0 |
1% for sellers, 0% for buyers |
Futures Trading fees
| Fee | ByBit | PaxFul |
|---|---|---|
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 | PaxFul |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Bank Transfer Withdrawal Fee |
- |
1% for sellers, No for buyers |
Debit/Credit Card Withdrawal Fee |
0 |
1% for sellers, No for buyers |
BTC Withdrawal Fee |
0.0005 BTC |
0.0004 for sending BTC, 0 for recieving BTC |
Inactivity Fee |
No |
No |
ByBit vs PaxFul: Trading Assets
| Asset Name | ByBit | PaxFul |
|---|---|---|
Overall |
320+ |
3 coins |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
No |
Dogecoin (DOGE) |
Yes |
No |
Binance Coin (BNB) |
Yes |
No |
Uniswap (UNI) |
Yes |
No |
Ripple (XRP) |
Yes |
No |
Polkadot (DOT) |
Yes |
No |
Cardano (ADA) |
Yes |
No |
Stellar (XLM) |
Yes |
No |
IOTA (MIOTA) |
Yes |
No |
Tron (TRX) |
Yes |
No |
Derivatives (Futures) |
Yes |
No |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
ByBit or PaxFul: Investment Programs
| Asset Name | ByBit | PaxFul |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
Yes |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
Liquidity mining, Principal-Protected Investment, Guaranteed yield savings |
Paxful earn |
Trading Platforms: PaxFul or ByBit
| ByBit | PaxFul | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: PaxFul or ByBit
| ByBit | PaxFul | |
|---|---|---|
SMS Based 2 FA |
No |
Yes |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
Yes |
No |
Filters |
Yes |
No |
Technical Analysis: PaxFul or ByBit
| ByBit | PaxFul | |
|---|---|---|
Indicators |
Yes |
not supported |
Drawing tools |
Yes |
not supported |
Historical Trades |
Yes |
not supported |
Live 2 Quotes |
Yes |
not supported |
Mobile trading: PaxFul or ByBit
| ByBit | PaxFul | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: PaxFul or ByBit
| ByBit | PaxFul | |
|---|---|---|
Market |
Yes |
No |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
No |
Stop Limit |
No |
No |
Trailing Stop |
No |
No |
ByBit vs PaxFul: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | PaxFul |
|---|---|---|
Bank Transfer |
No |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
ByBit vs PaxFul: Research
| Research Type | ByBit | PaxFul |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
No |
No |
E-Mail Reports |
Yes |
No |
ByBit vs PaxFul: Education
| Education Type | ByBit | PaxFul |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
Yes |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
PaxFul vs ByBit: Support
| Support Features | ByBit | PaxFul |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
Yes |
Other |
Telegram |
No |
ByBit vs PaxFul: Crypto Bonuses and Promo
| Promo | ByBit | PaxFul |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
Up to 50% of refferall trading fees |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on PaxFul
-
Comment
My experience with Paxful has been negative, marred by unreliable customer support, security concerns, and high fees. The lack of protection for users' assets is unacceptable and undermines trust in the platform as a safe and reliable marketplace for buying and selling cryptocurrencies. As a client, I cannot in good conscience recommend Paxful to others, and I would advise anyone considering using the platform to proceed with caution and explore alternative options that offer a more reliable and user-friendly experience.
-
Comment
I opened a mini account in this scam, worked out a strategy and what a blessing that I first decided to test the withdrawal technology before opening a normal trading account. Now I put everything that was there on the withdrawal, namely $ 500! They can't even return the money!
-
Comment
Initially, I did not plan to trade on Paxful for a long time, it was interesting to try and compare the conditions with my then exchange. I registered, quickly passed the verification (so that, if anything, quickly withdraw the deposit) and replenished the account. There is no demo, but it is not needed with such and such minimum requirements: just a dollar is enough to deposit. On the plus side, there are many ways to replenish. But the base currency here is XBT, and I had to get confused. In terms of trade - an average option. I would not say that Paxful is very different from its competitors. There are really no analytics, and trading here is mainly due to three cryptocurrencies. Three! I won’t say that Paxful is a bad exchange, but I didn’t find anything interesting here for myself.
-
Comment
I support positive reviews about Paxful. The first thing that caught my eye when visiting this P2P platform is an intuitive interface, presented in 21 languages. This means that the company is open to cooperation with traders from different countries. And now, 2 years after registering on this site, I understand that the first impression was not deceptive. I am satisfied with the cooperation with the Paxful exchanger, if not for 100%, then for 99% for sure. Trading here is comfortable, there are no technical failures, so the execution of transactions is always on top. Honestly, I'm not surprised that the pool of buyers/sellers on Paxful is growing every day.
-
Comment
Paxful simply does not fail you. I registered on this exchanger following a recommendation from a friend. To be honest, I wouldn't have noticed it myself. It does not appear in the leaders, the trade turnover is quite modest. Well, it is understandable, only three cryptocurrencies were listed - bitcoin, ethereum and tezer. When I started working with this P2P platform, I realized why it was being praised. There is a really large pool of buyers and sellers here (according to rumors, the services of this crypto exchange are used by about 12 thousand people). At first, I traded on Paxful and on other platforms at the same time, but now I completely abandoned them.
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.
- KuCoin vs ByBit
- OKEx vs ByBit
- PrimeXBT vs ByBit
- ByBit vs XT.com
- ByBit vs VALR
- ByBit vs StormGain
- ByBit vs MXC
- ByBit vs Huobi
- ByBit vs Hotbit
- ByBit vs FatBTC
- ByBit vs Cryptohopper
- ByBit vs Coinsbit
- ByBit vs Coinbase
- ByBit vs CoinDCX
- ByBit vs Bitvavo
- ByBit vs Bitsgap
- ByBit vs Bithumb
- ByBit vs Bitget
- ByBit vs AltCoinTrader
- BtcTurk vs ByBit
- Bitvavo vs ByBit
- CoinDCX vs ByBit
- AltCoinTrader vs ByBit
- ApolloX vs ByBit
- StormGain vs ByBit
- STEX vs ByBit
- Lbank vs ByBit
- Nexus vs ByBit
- CoinMetro vs ByBit
- CoinEx vs ByBit
- Bitbank vs ByBit
- Delta Exchange vs ByBit
- Bitsgap vs ByBit
- Hotbit vs ByBit
- VALR vs ByBit
- Bitget vs ByBit
- XT.com vs ByBit
- ByBit vs WhiteBIT
- ByBit vs PrimeXBT
- ByBit vs Revolut (crypto)
- ByBit vs OKEx
- ByBit vs WazirX
- ByBit vs eToroX
- ByBit vs Crypto.com
- ByBit vs Bitfinex
- ByBit vs CoinEx
- ByBit vs KuCoin
- ByBit vs Kraken
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.