Bitso and Bybit are two of the popular choices when it comes to buying/selling cryptocurrencies online.
Both exchanges are pretty similar in a few cases. But they have a lot of things that separate one exchange from another.
Hence, it gets really confusing for the newbies to choose between Bitso vs Bybit. But not to worry, as in this article, I am going to compare both leverage crypto exchanges at various factors.
So you can easily know which exchange would suit your investment or trading requirements.
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Bitso vs Bybit: At A Glance Comparison
Bitso is a cryptocurrency exchange based in America. It is even one of the oldest crypto exchanges in Latin America, founded back in 2014.
The best part of Bitso is that it allows users to trade using Mexican Pesos (MXN). Plus, you can also trade crypto using crypto tokens or stablecoins. The exchange also offers you various trading options like spot and API trading.
Bybit is one of the best crypto derivatives trading platforms out there.
With the exchange, you can trade a variety of cryptocurrency contracts, including perpetual swaps, futures contracts and crypto options. Plus, it also offers you spot and margin trading.
The exchange was established in 2018, and it is based out of Singapore. The exchange is known for offering advanced trading tools, high leverage, and low trading fees. To sign-up on the exchange, you can use Bybit referral code to enjoy a deposit bonus.
Bitso vs Bybit: Trading Markets, Products & Leverage Offered
Bitso
Bitso is low on trading market offerings. It only offers one trading market, which is spot trading. You don’t get any derivatives trading markets with Bitso.
- Spot Trading
Bybit
Bybit is a derivatives exchange. But derivatives aren’t the only market it offers. Instead, you would find a wide range of product offerings on the exchange. These offerings are:
- Spot Trading
- Margin Trading (5x Leverage)
- USDT Perpetual Futures Contracts (up to 100x Leverage)
- USDC Perpetual Futures Contracts (up to 125x Leverage)
- Inverse Perpetual Futures Contracts (up to 100x Leverage)
- USDC Options
- Leveraged Tokens (2X Leverage)
- Copy Trading
Verdict: Bybit is the clear winner by offering various trading markets compared to Bitso.
Bitso vs Bybit: Supported Cryptocurrencies
Bitso
On Bitso, you would find a limited number of supported cryptocurrencies. The list contains more than 50 crypto tokens. But you will find quite a lot of trading pairs. Some of the listed tokens are:
- BTC
- XRP
- ETH
- MANA
- LTC
- COMP
Bybit
Bybit supports more than 35+ cryptocurrencies and trading pairs. Also, it launches new crypto tokens from time to time. So you will always find something new and unique to invest in or trade in different markets. Some of the listed tokens are:
- BTC
- ETH
- XRP
- ARB
- DOGE
- GALA
Verdict: As Bybit supports 350+ cryptocurrencies which is far more than Bitso. It is the winner for this section.
Bitso vs Bybit: Trading Fee & Deposit/Withdrawal Fee Compared
Bitso Spot Trading Fee
Bitso has a straightforward trading fee. However, the fee varies from what base currency you are using for trading.
Also, your trading fee would get reduced as your 30 days trading volume increases. Plus, Bitso follows a maker-and-taker fee scheme.
And here is what the trading fee looks like across trading pairs:
| Trading Pair | Maker Fee | Taker Fee |
| Markets vs Mexican Pesos (MXN) | 0.500% | 0.650% |
| Markets vs Bitcoin (BTC) | 0.075% | 0.098% |
| Markets vs Argentinean Pesos (ARS) | 0.450% | 0.600% |
| Markets vs USD stablecoins (USD) | 0.250% | 0.300% |
| Markets vs Brazilian reais (BRL) | 0.200% | 0.400% |
| Markets vs Tether USD (USDT) | 0.095% | 0.099% |
| Markets vs Colombian Pesos (COP) | 0.500% | 0.650% |
Bitso Deposit & Withdrawal Fees
Bitso deposits and withdrawal fees entirely depend on what method you are using to deposit or cash out funds. For instance, if you are depositing or withdrawing Mexican pesos using Bank transfer (SPEI), then there are no charges.
Even most fiat deposits and withdrawal options on the exchange are completely free of charge.
Also, if you are depositing crypto tokens to your Bitso wallet, then there are also no fees. But for crypto token withdrawals, you will be subjected to a network fee.
Additionally, it is also important for you to know that some banks and payment processors might charge you a transaction fee.
ByBit Spot Trading Fee
Just like Bitso, Bybit also follows a maker-and-taker model with a tiered fee structure. This means the higher your 30 days trading volume is, the lower the trading fee you have to pay. However, the regular fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
For Bybit futures trading too, you a similar tiered fee structure. And here is how the regular fee stands out:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Bybit deposits and withdrawal fees depend on what method you have selected. For most fiat deposit and withdrawal methods, there are absolutely no fees.
But for certain deposit and withdrawal methods like bank transfer or credit/debit card purchases will occur a transaction fee.
Also, when it comes to crypto deposits, there are zero fees. But if you are withdrawing crypto, it will be charged with a network fee which is charged by the blockchain and not the exchange.
However, the good part is that you can completely avoid paying deposits and withdrawal fees by using P2P trading.
Verdict: Both exchanges have a low trading fee. But Bybit wins the section because of its straightforward fee structure, which is easy to understand.
Bitso vs Bybit: Order Types
Bitso
- Market
- Limit
- Stop Loss
- Stop Limit
Bybit
- Limit
- Market
- Conditional
Verdict: It is a tie between Bitso and Bybit – As there is not much difference in terms of supported order types.
Bitso vs Bybit: KYC Requirements & KYC Limits
Bitso
Bitso requires you to go through identity verification before you can start trading on the exchange.
If you don’t complete your KYC, you won’t be able to deposit or withdraw funds through any methods. Or you can place any trades.
However, Bitso doesn’t have different KYC levels. The Basic KYC verification would unlock all the features you need to buy and sell crypto efficiently.
Bybit
If you are looking for an anonymous crypto exchange, Bybit should be an ideal option. Unlike Bitso, Bybit does not require you to go through any identity verification.
Without completing KYC, you can deposit funds from another wallet or crypto exchange. But you are not allowed to use P2P trading or other deposit and withdrawal methods.
Also, with the basic email verification, you are getting a daily withdrawal limit of 20,000 USDT daily. Along with a monthly withdrawal limit of 100,000 USDT.
But if you want to enhance your deposit or withdrawal limit, you are required to verify your account.
KYC Limits
ByBit has two different levels of KYC. These are:
| Level 1 | Unlimited P2P Trading | $20K daily fiat top-up | 1,000,000 USDT daily coin withdrawal limit |
| Level 2 | Unlimited P2P Trading | $100K daily fiat top-up | 2,000,000 USDT daily coin withdrawal limit |
Verdict: Bybit is the winner for this section and the ideal choice for anyone looking for an anonymous crypto trading experience.
Bitso vs Bybit: Deposits & Withdrawal Options
Bitso
Bitso supports a wide range of deposit and withdrawal methods. For different fiats, you have a different way to deposit funds. These methods are:
- Methods 1: Deposit funds from another crypto wallet or exchange them to Bitso’s wallet.
- Method 2: Use payment methods like Bitso Transfer, Bank Transfer, TED, PIX, etc., to deposit or withdraw fiat.
Bybit
- Methods 1: Deposit funds from another crypto wallet or exchange them to Bybit’s wallet.
- Method 2: Buy crypto using a credit/debit card or bank transfer or withdraw funds using bank transfer or other locally available payment methods.
- Method 3: Use P2P trading to deposit or withdraw funds.
Verdict: Bitso is the winner for this section. The exchange has a wide range of payment methods for depositing and withdrawing funds. Plus, most of those deposit/withdrawal options are free.
Bitso vs Bybit: Trading & Platform Experience Comparison
Bitso
Bitso has two different trading platforms – Alpha Classic & Alpha Pro.
Alpha Classic offers you a straightforward trading experience where you can buy and sell orders. It doesn’t offer extensive trading features like trading charts, different order types etc. You can use Alpha Classic to buy and sell crypto tokens.
Alpha Pro is meant for advanced traders. It offers you a full-fledged trading platform with all the important trading tools. Such as:
- Trading Chart powered by TradingView
- Buy and Sell orders
- Trading Pairs
- Easy-to-use order form
- Orders
- Easy-to-use mobile app
Bybit
Bybit doesn’t have two separate trading platforms.
Hence, it is much easier to place and execute trades on the exchange. Also, the trading platform and the overall user experience are much better than Bitso. You are getting features like:
- Multiple technical charts, including TradingView
- Easy-to-use order form
- Trading pair details
- Order book
- Recent trades
- Positions, closed P&L, Current orders, order history, and trade history
- Easy-to-use mobile app
To know more about the trading platform, you can check our how to use Bybit guide.
Verdict: Bybit wins this section – As the exchange has an advanced trading platform compared to Bitso.
Bitso vs Bybit: Customer Support
Bitso
Bitso offers its help through live chat. However, the live chat option isn’t located on their website but under the help centre pages.
Also, you can raise a support ticket to get help over email. But Bitso doesn’t provide help through its social media channels.
Bybit
Bybit also offers you help through live chat and email. You can find the live chat option right on their website, which is convenient to access. Additionally, you can also reach out to Bybit over Twitter at @BybitHelpdesk.
Verdict: As Bybit’s customer support is easy to reach out to – it is the winner.
Bitso vs Bybit: Customer Support
Bitso
- Two Factor Authentication
- Transaction PIN
Bybit
- Two Factor Authentication
- Fund Password
- Anti-phishing Code
- Real-Time Monitoring
- Withdrawal Address Whitelist
- Withdraw via Address Book
- Trusted devises Management
- Triple Layer Asset Protection & Platform Security
- Advanced-Data Protection
Verdict: With Bybit, you are getting an extended list of security features. That’s why Bybit wins the section.
Is Bitso Safe & Legal To Use?
Bitso is a safe and legal platform to trade crypto.
The exchange is registered with the Mexican government and complies with all applicable regulations, including anti-money laundering and know-your-customer requirements.
Along with that, the exchange also has implemented several security features to protect users’ funds and data, such as two-factor authentication, SSL encryption, and cold storage.
Is Bybit Safe & Legal To Use?
Bybit is also one of the safest derivatives exchanges out there. The exchange complies with multiple jurisdictions around the globe, and it is considered a safe platform to use.
The exchange also has implemented a wide range of security features, and it uses cold storage to protect its user’s funds and data. Plus, the exchange hasn’t been hacked once since it launched.
Bitso vs Bybit Conclusion: Why not use both?
Overall, Bybit is the ultimate winner at the end of this comparison.
Bybit not only offers you spot trading but allows you to trade in different markets. Plus, it offers you high leverage and low trading fees. As a result, you will get a complete trading experience and maximize your profits.
But Bitso can’t be ignored as well.
The exchange is a suitable option for anyone looking to invest in crypto and build their portfolio. But for crypto trading, it won’t be a good fit.
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