Confused between BKEX vs ByBit?
If yes, here is a comparison to help you choose between the two exchanges.
BKEX and ByBit are two popular crypto exchanges with many things in common. Both exchanges offer you similar features and trading markets. But you would still find quite a lot of differences.
Hence, it can be confusing to choose one of the two exchanges, but not to worry, as I have compared both exchanges at various factors below.
So go ahead and have a quick look:
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BKEX vs ByBit: At A Glance Comparison
BKEX is one of the most well-known crypto trading platforms out there.
The exchange is based out of Hong Kong and was established back in 2018 by a group of blockchain enthusiasts and professionals.
The exchange is known for offering a wide range of trading services, such as spot trading, margin trading and futures trading.
Also, it comes with an easy-to-use mobile app and offers top-notch security and a great trading experience.
ByBit is one of the top cryptocurrency derivatives exchanges out there. The exchange was founded in 2018, and it is based in Singapore.
The exchange allows you to trade in various crypto markets, be it derivatives products like perpetual contracts, futures contracts, options contracts, spot and margin and trading, and more.
ByBit is known for its low trading fees and wide range of trading pairs. Also, you can get sign-up bonus on the exchange using ByBit promo code.
BKEX vs ByBit: Trading Markets, Products & Leverage Offered
First, let’s talk about the trading markets and leverage offered by both crypto leverage exchanges:
BKEX
- Spot Trading
- Leveraged Token
- USD-M perpetual contracts with leverage between 1x to 100x
- Copy Trading
- Demo Trading
- P2P Trading
ByBit
- Spot Trading
- Margin Trading with leverage between 1x to 5x.
- USDT perpetual contracts with leverage between 1x to 100x
- USDC perpetual contracts with leverage between 1x to 125x
- USDC options
- Inverse perpetual contracts with leverage between 1x to 100x
- Leveraged tokens with up to 2x leverage
- Copy Trading
Verdict: ByBit is a better choice in terms of supported trading markets. You can use the exchange to trade all sorts of markets, whereas, on BKEX, you would only find a few options.
BKEX vs ByBit: Supported Cryptocurrencies
BKEX
Talking about the supported cryptocurrencies on BKEX, there is no official number. However, the exchange adds new currencies from time to time.
Also, you would find a mix of both major coins as well as various altcoins listed on the exchange. Some of such listed tokens are:
- BTC
- ETH
- SUI
- GLXY
- USDC
- ARB
ByBit
On ByBit, you can find more than 350+ crypto tokens and trading pairs across futures and spot trading markets.
Also, the exchange offers you access to various newly launched tokens along with majorly traded tokens and other altcoins. Some of the listed tokens are:
- BTC
- SOL
- USDT
- ARB
- XRP
- INJ
Verdict: As ByBit supports a wider range of crypto tokens compared to BKEX, it is the winner.
BKEX vs ByBit: Trading Fee & Deposit/Withdrawal Fee Compared
Now coming to the most crucial part is a trading fee. As a trader, it is important for you to choose a crypto exchange with the lowest trading fees. And here is how the exchanges’ fee compares:
BKEX Trading Fees
On BKEX, the trading fee can be a bit confusing as there is no dedicated page where you can see the trading fee across the spot and futures markets.
However, the exchange does charge you a flat fee trading fee with no additional discounts or tiers. So the trading fee stands at:
- Maker Fee: 0.15%
- Taker Fee: 0.2%
BKEX Deposits & Withdrawal Fees
You don’t have to pay fees when depositing crypto on BKEX, as deposits are free. But crypto withdrawals on the exchange are chargeable.
When it comes to depositing and withdrawals of fiat, you might get charged a transaction fee depending on your payment method selection. But you get different deposit and withdrawal methods.
Additionally, as the exchange supports C2C trading, known as P2P trading, you can enjoy free deposits and withdrawals of funds.
ByBit Spot Trading Fee
ByBit has a straightforward fee structure that is pretty easy to understand. It also follows a tiered fee structure which enables you to enjoy heavy discounts.
The tier is based on your 30days trading volume, so the more you trade, the lesser your trading fees would be. However, the regular trading fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
A similar tiered fee structure can also be seen for Bybit futures trading, and here is what the fee looks like:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Just like BKEX, crypto deposits are free on ByBit. But when it comes to crypto withdrawals, it will be subjected to a withdrawal fee. The withdrawal fee varies from one currency to another and the blockchain network.
For fiat deposits and withdrawals, there are both paid and free options are available. Also, for certain deposit withdrawal methods like credit/debit card or bank transfer will occur a transaction fee.
But since ByBit supports P2P trading, you don’t have to pay any deposit or withdrawal fees.
Verdict: Overall, ByBit has a straightforward fee structure with room to get heavy discounts on your trading fee. So it is the winner in this case.
BKEX vs ByBit: Order Types
BKEX
- Limit
- Market
- Trigger
ByBit
- Limit
- Market
- Conditional
Verdict: As both the exchanges offer similar order types, it is a tie between BKEX and ByBit.
BKEX vs ByBit: KYC Requirements & KYC Limits
BKEX
BKEX doesn’t require you to verify your account to start using the exchange. However, if you don’t verify your account, you will be restricted from using certain features.
Without verifying your account, transfer out or red packets are not supported, and you won’t get access to any subscription, flash sale, or group buying activities. Also, your daily withdrawal limit would be limited to < 2 BTC.
KYC Limits
BKEX has two different KYC levels, these are:
- Basic Identity Verification: It offers you transfer out or red pack support, access to the subscription, flash sale, and group buying. Along with a daily withdrawal limit of < 60 BTC.
- Advanced KYC Verification: You can participate in all activities on the platform and enjoy a daily cumulative withdrawal limit of < 150 BTC.
ByBit
ByBit also doesn’t require you to verify your account. Also, unlike BKEX, you don’t get a restricted experience if you don’t verify your account.
Of course, without verifying your account, you are not allowed to deposit fiat or use P2P trading. But you can always deposit crypto from another wallet or exchange.
Without identity verification, ByBit offers you a withdrawal limit of 20,000 USDT daily and a monthly withdrawal limit of 100,000 USDT.
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: Both exchanges allow you to trade without identity verification. But ByBit is still a better choice as it offers you unrestricted access to the platform.
BKEX vs ByBit: Deposits & Withdrawal Options
BKEX
- Method 1: You can buy crypto using payment options like credit/debit card, AliPay, WeChat, PayPal etc.
- Method 1: Deposit or withdraw funds using P2P trading or C2C Trading
- Method 3: You can also deposit or withdraw funds from any other crypto wallet or exchange.
ByBit
- Method 1: You can buy crypto using payment options like credit/debit cards, bank transfers, etc.
- Method 2: Use Deposit or withdraw funds using peer-to-peer (P2P) trading.
- Method 3: You can also deposit or withdraw funds from any other crypto wallet or exchange.
Verdict: As both exchanges allow you to deposit and withdraw funds in a similar manner, it is a tie.
BKEX vs ByBit: Trading & Platform Experience Comparison
Now let’s talk about the overall trading experience offered by both exchanges.
BKEX
- Technical chart powered by TradingView
- Trading Pair Details
- Multiple Order Types
- Order Book and Recent Trades
- Easy-to-use order form
- Positions, Active orders, trigger orders, order history, filled history & trigger order history
ByBit
- 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
Verdict: In terms of trading features and feel, both exchanges stand at an equal position.
However, I find ByBit’s trading platform much more user-friendly. Also, it has an advanced mobile trading app. So ByBit wins this section.
BKEX vs ByBit: Customer Support
BKEX
The customer support of BKEX isn’t really impressive. Although they do have live chat support, it is in Chinese.
So navigating through the support chat might be complicated for you. But you can always get help through email. However, you don’t get help through social media channels like Twitter.
ByBit
ByBit is clearly a better choice in terms of support.
They have live chat support right on their website, which allows you to connect with a support agent instantly. Or you can use the chatbot to access different help guides.
You can also raise a support ticket or reach out to them on Twitter at @ByBitHelpdesk.
Verdict: As ByBit offers you multiple ways to connect to the support team and has a quicker response time, it is the winner for this section.
BKEX vs ByBit: Security Features
BKEX
- Two Factor Authentication
- Fund password
- Security Questions
- Anti-phishing code
- Login valid for
ByBit
- Two Factor Authentication
- Fund Password
- Anti-phishing Code
- Real-Time Monitoring
- Withdrawal Address Whitelist
- Withdraw via Address Book
- Trusted Devices Management
- Triple Layer Asset Protection & Platform Security
- Advanced-Data Protection
Verdict: With ByBit, you are getting an extended list of security features – hence it is the winner.
Is BKEX Safe & Legal To Use?
BKEX is a safe and legal platform to trade crypto. BKEX has taken several steps to ensure the safety and security of its users.
For example, it uses SSL encryption to protect user data and stores most of its funds in cold storage to prevent them from being hacked. It also offers two-factor authentication to help prevent unauthorized access to user accounts.
Is ByBit Safe & Legal To Use?
Being a leading crypto exchange, ByBit is absolutely safe to use.
The exchange is compiled with multiple jurisdictions around the globe and has implemented several high-end security features.
The exchange uses technologies like multi-signature and offline wallets to keep its users’ funds protected. Along with that, it also offers several features to its users to protect their accounts.
BKEX vs ByBit Conclusion: Why not use both?
In the end, it is ByBit that clearly stands out as a winner.
The exchange is a far better choice in terms of product offerings, leverage, trading fees, and customer support. Also, it is a highly secure crypto exchange used by millions of users worldwide.
But BKEX is also not a bad option. The exchange offers you spot and futures trading and offers deep liquidity and sufficient leverage.
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See how BKEX & ByBit compares to other exchanges
