ByBit vs WhiteBIT: Fees, Coins, Safety Comparison
| Feature | ByBit | WhiteBIT |
|---|---|---|
Overall |
4.9 |
3.8 |
3.1 |
3.7 |
|
5.0 |
3.5 |
|
5.0 |
4.3 |
|
Investment Instruments |
5.0 |
3.9 |
Platforms and Charting Tools |
4.9 |
3.6 |
Deposit and Withdrawal |
4.0 |
4 |
Research |
4.2 |
3.9 |
Education |
4.1 |
3.7 |
Support |
4.5 |
3.5 |
Bonuses |
5.0 |
3.8 |
|
Your capital is at risk.
|
Your capital is at risk.
|
ByBit vs WhiteBIT: 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 WhiteBIT exchange is a universal platform for trading and exchanging cryptocurrencies. In addition to basic (simplified) trading, there are spot and margin trading. Bitcoin, Litecoin, Ethereum, Ripple, DASH, and dozens of other altcoins are traded on the exchange. Fiats are represented by the USD and the EUR. For margin trading, 1:20 leverage is provided. In addition to active trading, there is the possibility of investing in a blockchain project with interest payments (from staking). The exchange has a standard referral program, and trading commissions are fixed. There is a TradingView web terminal and a mobile trading application.
| ByBit | WhiteBIT | |
|---|---|---|
| Overall Pros | Trading With Leverage up to 1:100 | Bitcoin, dozens of altcoins and tokens, four fiat currencies, including the USD and the EUR; |
| Derivatives, NFT Available | large trading volumes, high liquidity, multilevel security system; | |
| Zero fee spot trading | basic trading for beginners, spot and margin, P2P exchanger, and free multicurrency account; | |
| Deposit Fee – 0% | most options for depositing/withdrawing funds such as e-wallets, bank cards, and transfers; | |
| Passive Income With Staking, DeFi Mining, Multi Currency deposits, Principal-Protected Investment | a simple and profitable system for investing in blockchain projects of crypto exchange affiliates; | |
| Strong Research | the commission does not change - 0.1% of the trade amount, and no additional fees or charges; | |
| FAQs on the basics of crypto trading, a demo token for education and training. | ||
| Overall Cons | No tier-1 regulation | communication with the exchange only through the website and email, there is no call center or alternative methods of prompt communication; |
| No Fiat Deposit and Withdrawal | there is no advanced training, except for staking; and there are no alternative investment options. |
ByBit vs WhiteBIT: Safety and Regulation
| Regulated By: | ByBit | WhiteBIT |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
Clear White Technologies (Hongkong) |
ByBit vs WhiteBIT: Trading Conditions
| Trading Conditions | ByBit | WhiteBIT |
|---|---|---|
Minimum Deposit |
$1 |
0.0005 BTC |
Trading Platforms |
ByBit |
WhiteBIT TradingView |
Max Leverage (Futures) |
1-100 |
1-20 |
Number of Markets |
320 |
138 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Crypto |
EUR, USD, UAH, RUB + 51 crypto |
ByBit vs WhiteBIT: Fees
Trading Fees
| Fee | ByBit | WhiteBIT |
|---|---|---|
Max Maker |
0.1% |
0.10% |
Max Taker |
0.1% |
0.10% |
Min Maker |
0.1% |
0.10% |
Min Taker |
0.1% |
0.10% |
Debit/Credit Card Purchase Fee |
0 |
3% for RUB; 0,7% for UAH; 2.7% and 4.5% others, depending on the fiat currency. |
Futures Trading fees
| Fee | ByBit | WhiteBIT |
|---|---|---|
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 | WhiteBIT |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
Crypto deposits - free; ADVCash 1,5%; Perfect money 3%; Visa/Mastercard 0,7%-4,5% depending on the currency, Qiwi 2,5%, Yandex 2,5% |
Bank Transfer Withdrawal Fee |
- |
Not supported |
Debit/Credit Card Withdrawal Fee |
0 |
0,7%-4% depending on the currency |
BTC Withdrawal Fee |
0.0005 BTC |
No |
Inactivity Fee |
No |
No |
ByBit vs WhiteBIT: Trading Assets
| Asset Name | ByBit | WhiteBIT |
|---|---|---|
Overall |
320+ |
86+ |
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 |
No |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
No |
NFT |
Yes |
No |
Crypto ETF |
No |
No |
ByBit or WhiteBIT: Investment Programs
| Asset Name | ByBit | WhiteBIT |
|---|---|---|
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: WhiteBIT or ByBit
| ByBit | WhiteBIT | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: WhiteBIT or ByBit
| ByBit | WhiteBIT | |
|---|---|---|
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: WhiteBIT or ByBit
| ByBit | WhiteBIT | |
|---|---|---|
Indicators |
Yes |
Yes |
Drawing tools |
Yes |
Yes |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
No |
Mobile trading: WhiteBIT or ByBit
| ByBit | WhiteBIT | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: WhiteBIT or ByBit
| ByBit | WhiteBIT | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
Yes |
Yes |
Stop Limit |
No |
Yes |
Trailing Stop |
No |
No |
ByBit vs WhiteBIT: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | ByBit | WhiteBIT |
|---|---|---|
Bank Transfer |
No |
No |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
Yes |
ByBit vs WhiteBIT: Research
| Research Type | ByBit | WhiteBIT |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
No |
No |
E-Mail Reports |
Yes |
No |
ByBit vs WhiteBIT: Education
| Education Type | ByBit | WhiteBIT |
|---|---|---|
Demo-account/Paper Trading |
No |
Yes |
Courses |
No |
No |
Articles |
Yes |
Yes |
Videos |
Yes |
No |
Webinars |
No |
No |
WhiteBIT vs ByBit: Support
| Support Features | ByBit | WhiteBIT |
|---|---|---|
Working Days |
24/7 |
44766 |
Yes |
Yes |
|
Phone |
No |
No |
Online chat |
Yes |
No |
Other |
Telegram |
No |
ByBit vs WhiteBIT: Crypto Bonuses and Promo
| Promo | ByBit | WhiteBIT |
|---|---|---|
Crypto Bonus |
Complete tasks and get up to $580 |
No |
Affiliate Program |
$20 per invited user, up to $50 deposit bonus |
Get 40% of every trading fee paid by the users who sign up via your referral link |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on WhiteBIT
-
Comment
My review of WhiteBIT is quite normal. The fee here is ok, I make a profit on long-term trades. Liquidity is not bad, despite the fact that the exchange is not very cool. There are coins, so you can trade. On the technical side, there are no obvious problems: nothing freezes too much, the platform is working. I did not notice any fraudulent actions on the part of WhiteBIT.
-
Comment
I withdrew money to my bank card. They promised that the withdrawal would be within two hours. But in fact, it took two days for the money to arrive. Why do I need such an exchange where they clearly engage in deception? Now a representative of WhiteBIT will come out and start telling tales about how well the exchange works, and all the problems arise only because of the banks. Not true! I work with another exchange, withdraw to the same bank, and the withdrawal happens several times faster.
-
Comment
My history of working with WhiteBIT is sad. Frequent delays in order execution resulted in heavy losses. It feels like all the technical problems are created on purpose. The support service is poor and it is impossible to get quick help from them. I see that representatives of the exchange quickly respond only on resources where negative reviews are written about WhiteBIT. It would be very good if they reacted to my requests like this. I recommend avoiding this exchange due to poor service and problems with the platform.
-
Comment
The Whitebit exchange is very weak. The conditions they offer seem normal in theory, but it's only on paper. In reality, the trading platform performs poorly, with significant issues. I don't know about the trading volumes here, but there are constant problems with executing market orders as well as limit orders. Whitebit allows withdrawals, but delays are frequent.
-
Comment
Recently, WhiteBIT has begun to improve its rating. If earlier there were a lot of negative reviews about this exchange, now major resources are simply bombarded with positive reviews created as a blueprint. And even here, on Traders Union, WhiteBIT’s bot writes to spam all the negative reviews. So I will still say - WhiteBIT is a deception and a scam!
Top 5 Reviews on ByBit
-
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.
-
Comment
I have never had any problems with this company. I will even say that this is the best thing that I have seen in the last year. They try to please everyone. I can only praise.
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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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!