ByBit vs WazirX: Fees, Coins, Safety Comparison
| Feature | ByBit | WazirX |
|---|---|---|
Overall |
4.9 |
3.8 |
3.1 |
3.0 |
|
5.0 |
4.1 |
|
5.0 |
4.5 |
|
Investment Instruments |
5.0 |
4.1 |
Platforms and Charting Tools |
4.9 |
3.7 |
Deposit and Withdrawal |
4.0 |
3.4 |
Research |
4.2 |
4.6 |
Education |
4.1 |
4.0 |
Support |
4.5 |
3.7 |
Bonuses |
5.0 |
3.1 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs WazirX: 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 WazirX exchange is a cryptocurrency exchange and trading platform. The site offers such assets as Bitcoin, Ethereum, Ripple, Litecoin, and others. The WRX is the platform's proprietary token, which was created to draw attention to the site and is the essence of the cryptocurrency exchange ecosystem. You can exchange the WRX token for cryptocurrencies and other tokenized assets. The company has developed its own trading terminal with a high degree of protection. The terminal is provided in desktop and mobile versions. The system’s infrastructure can vary scale in a few seconds to meet a growing demand and ensure high transaction rates. It is a young Indian exchange that uses advanced technologies and offers comfortable trading terms.
| ByBit | WazirX | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | 2 FA Authentication |
| Derivatives, NFT Available | Low Minimum Deposit | |
| Zero fee spot trading | Passive Income With Staking | |
| Deposit Fee – 0% | Minimum maker fee $0 | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | Indicators Available | |
| Strong Research | Derivatives, NFT Available | |
| Strong Research | ||
| Overall Cons | No tier-1 regulation | No tier-1 Regulation |
| No Fiat Deposit and Withdrawal | Market and Trailing Stop orders are not available. | |
| Only 1 fiat currency supported – INR | ||
| Deposits and withdrawals via e-wallets are not available | ||
| No Special Offers |
ByBit vs WazirX: Safety and Regulation
| Regulated By: | ByBit | WazirX |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
No |
ByBit vs WazirX: Trading Conditions
| Trading Conditions | ByBit | WazirX |
|---|---|---|
Minimum Deposit |
$1 |
INR 100 ($1) |
Trading Platforms |
ByBit |
Web, mobile |
Max Leverage (Futures) |
1-100 |
1:1 |
Number of Markets |
320 |
236 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Crypto |
INR, 50+ Crypto |
ByBit vs WazirX: Fees
Trading Fees
| Fee | ByBit | WazirX |
|---|---|---|
Max Maker |
0.1% |
0.2% |
Max Taker |
0.1% |
0.2% |
Min Maker |
0.1% |
0 |
Min Taker |
0.1% |
0 |
Debit/Credit Card Purchase Fee |
0 |
- |
Futures Trading fees
| Fee | ByBit | WazirX |
|---|---|---|
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 | WazirX |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No for fiat deposit |
Bank Transfer Withdrawal Fee |
- |
10 INR |
Debit/Credit Card Withdrawal Fee |
0 |
10 INR |
BTC Withdrawal Fee |
0.0005 BTC |
- |
Inactivity Fee |
No |
No |
ByBit vs WazirX: Trading Assets
| Asset Name | ByBit | WazirX |
|---|---|---|
Overall |
320+ |
|
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
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 |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
Yes |
Yes |
Crypto ETF |
No |
No |
ByBit or WazirX: Investment Programs
| Asset Name | ByBit | WazirX |
|---|---|---|
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: WazirX or ByBit
| ByBit | WazirX | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: WazirX or ByBit
| ByBit | WazirX | |
|---|---|---|
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: WazirX or ByBit
| ByBit | WazirX | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
No |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: WazirX or ByBit
| ByBit | WazirX | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: WazirX or ByBit
| ByBit | WazirX | |
|---|---|---|
Market |
Yes |
No |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
ByBit vs WazirX: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | WazirX |
|---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
Yes |
ByBit vs WazirX: Research
| Research Type | ByBit | WazirX |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
Yes |
Yes |
ByBit vs WazirX: Education
| Education Type | ByBit | WazirX |
|---|---|---|
Demo-account/Paper Trading |
No |
No |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
Yes |
Webinars |
No |
Yes |
WazirX vs ByBit: Support
| Support Features | ByBit | WazirX |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
Telegram |
No |
ByBit vs WazirX: Crypto Bonuses and Promo
| Promo | ByBit | WazirX |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
50% of the trading fees paid by the referred user |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on WazirX
-
Comment
WazirX boasts an extensive selection of cryptocurrencies. But the fee structure is disproportionately high compared to competitors, eating into profits and discouraging active trading. Hidden fees and unclear pricing models only add to the frustration, leaving traders feeling nickel-and-dimed at every turn.
-
Comment
Of course, they threw me beautifully at WazirX. At first everyone was so friendly. Filled them with money - immediately the attitude changed. And then they just did everything to drain my money. I do not recommend!
-
Comment
I can't call WazirX normal. They interfere with work, so it’s impossible to trade profitably. They leaked me a couple of times, I decided to leave. I withdrew the balance from the account for 2 months. I do not recommend trading with this company.
-
Comment
I decided to open a trading account with WazirX. I registered, and immediately the manager of this company called me. I didn't like his aggressive demeanor. I told him about it. In response, insults rained down. I immediately knew who I was dealing with. Didn't even make money.
-
Comment
This is my first time working with the Indian stock exchange, although I have heard that this country is actively developing in the field of technology. And WazirX seems to be a good exchange. Assets are popular, for the most part, except that you need to get confused with commissions, for some cryptocurrencies they are not very profitable. But the terminal is great! Clear, simple, I still have enough functionality, but we'll see. This is enough for my current level, but I think if I decide to increase volumes, I won’t stay at WazirX: it’s more pleasant to have bonuses at high volumes, which WazirX cannot offer. I recommend it for beginners and amateurs. There will be no problems with speed, replenishment and withdrawal. The rest is up to you and your work.
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.