Bybit and Huobi are two popular crypto derivative exchanges available in the market.
Both of them allow you to trade in various cryptocurrencies across markets like spot and derivatives.
While both exchange offerings seem familiar, many key areas still make the exchanges different from each other.
So the question is, which one is best?
To help you out, I have made a Bybit vs Huobi comparison.
So it will be easier for you to choose the suitable crypto exchange that goes with your requirements.
Bybit vs Huobi: At A Glance
ByBit is a popular crypto futures platform that has been in operation since 2018.
The crypto exchange allows you to trade in markets like spot, USDT, and USDC perpetual contracts, USDC options, inverse contracts, and other derivatives products.
It is best suited for futures trading and is known to have one of the lowest trading fees in the industry. Plus, you can get sign-up bonus when you use ByBit’s promo code.
Huobi is another well-known crypto exchange that has been operating since 2018. The exchange allows you to trade in all sorts of markets, be it spot or margin trading.
Alongside, you can also trade in the derivatives market through instruments like USD-M, Coin-M, and crypto options.
Plus, you will find various ways to indulge in the crypto community, such as staking, crypto loans, and others.
Bybit vs Huobi: Types Of Trading Markets
First, let’s talk about the types of markets available on both exchanges.
Talking about Bybit, the exchange is more focused on futures trading. So even if you are trading in the spot market, you would see a 5x leverage for all the available trading pairs.
Apart from the Spot market, Bybit allows you to trade in derivatives markets such as USDT perpetual, Inverse perpetual and futures, USDC perpetual, and USDC options.
On the other hand, Huobi’s offerings are also pretty similar. But unlike Bybit, it has a spot market as well as margin trading.
For derivatives, it only has USD-M (perpetual contracts settled in USD) and Coin-M (perpetual contracts settled in cryptocurrencies) contracts. Plus, you also get crypto options.
So overall, if you are only interested in trading in the crypto futures, which is what most traders do prefer, going with Bybit would be a better choice as it offers you more derivative products than Huobi.
Bybit vs Huobi: Supported Cryptocurrencies
The more supported cryptocurrencies are there, the more markets you get to explore and add more tokens to your portfolio.
Talking about the supported cryptocurrencies, Bybit has about 350+ supported crypto tokens. It features all of the popular crypto tokens such as BTC, ETH, SOL, USDT, LTC, DOGE, and many others.
Also, the same goes for Huobi. As per the exchange, it has more than 1000 crypto tokens, including the major tokens such as BTC, ETH, SOL, ADA, DOT, LINK, USDT, DOGE, SHIB, etc.
The bottom line for both exchanges, you will find all the popular crypto tokens where most trading happens on both exchanges.
However, going with Huobi would be a better choice if you want to trade unique tokens.
Bybit vs Huobi: Trading Fees
Trading fee is one such area that makes a big difference. If an exchange charges too much of a trading fee, your profits would be minor, and losses would be significant.
Both markets have a tiered fee structure for both spot and futures trading. So the trading fee would depend on your 30 days trading volume. So the more you trade, the less you pay as a trading fee.
Spot Market Trading Fees
Starting with Bybit, the exchange charges you 0.10% as your maker and taker fee under the Non-VIP tier. Whereas, if you fall under the Pro 3 category, which is its highest tier, you would pay 0.02% as the taker and 0% as the maker fee.
Coming to Huobi, the normal users would pay 0.2000% as the base fee rate. However, you can get an effective discount if you hold HT Tokens (Huobi’s native cryptocurrency). The minimum discount one can avail of is 10%, and the maximum is 10%.
Apart from the normal fee structure, there is a professional trader tiered fee program like the Bybit.
Under this, the Level 1 user is required to trade 700 BTC as the 30 days trading volume and have 2000 HT tokens in their wallet. Then the fee would be 0.362% and 0.0452% as the maker and taker fee, respectively.
The thing with the professional trading fee is that you are required to meet the 30 days trading volume and HT holdings requirements. Else, you would get charged on the basis of the normal fee structure.
Futures Trading Fees
Bybit also follows a similar trading fee program for derivatives trading. As a result, the taker fee would be 0.06% for perpetual and futures trading, and the maker fee would be 0.01%.
Whereas Huobi has a standard fee structure for fee structure, there is no tier. So the exchange would charge you about 0.02% as the maker and 0.04% as the taker fees for opening or closing a position.
Huobi will also charge you a delivery fee, which will only occur if the trader fails to close a position before the contract expires. In such a case, there will be 0.015% for BTC contracts and 0.05% for the other contracts.
Deposit & Withdrawal Fees
Talking about the deposit and withdrawal fees, Bybit doesn’t charge you anything for the deposits. However, it does charge you for the withdrawals.
The withdrawal fee depends on what cryptocurrency you are withdrawing. For instance, if you withdraw Bitcoin, there is a 0.0005% charge.
On the other hand, Huobi also doesn’t charge for deposits. But it charges you dynamic withdrawal fees, which means you will be charged according to the current network conditions, and it can fluctuate from time to time.
Overall, Bybit has a clean fee structure compared to Huobi, which can be confusing to many users thanks to its complexities.
Bybit vs Huobi: KYC Requirements
The KYC requirement is another factor that many traders do consider. Also, for many cryptocurrency exchanges, KYC is a mandatory factor.
Talking about Bybit, you can use the exchange without completing KYC. But your daily and monthly withdrawal limits would be 20K USDT and 100K USDT. In addition, the exchange may also limit access to certain features in your daily trading activities.
KYC must also withdraw your funds through standard methods like bank transfers. But if you choose to use P2P, then it can be bypassed.
On the other hand, Huobi doesn’t require you to complete KYC. Just like Bybit, you can deposit and withdraw funds through P2P.
However, you would need to complete KYC verification to deposit funds using credit or debit cards or third-party payment methods or to withdraw a higher number of funds.
Ultimately, both exchanges allow you to use the respective platforms without completing KYC verifications.
However, without verifying KYC, you will have access to limited features and face issues with deposits and withdrawals. So it is recommended that you complete the KYC.
Bybit vs Huobi: Account Funding Methods
Both exchanges offer you various options to fund your accounts. Starting with Bybit, you can deposit or buy crypto in multiple ways.
The most convenient one would be its P2P. Using peer-to-peer, you can purchase crypto from other sellers through various payment options available in your region.
Alternatively, you can buy crypto using bank transfer or using credit or debit cards. Plus, depending on your location Bybit may offer you other payment options too.
Finally, you can deposit funds from any other exchange by transferring the tokens to the Bybit wallet.
Coming to Huobi, the exchange also offers you a P2P option. So you can use your local payment methods to buy or sell crypto. Additionally, you can also transfer funds from other exchanges to Huobi.
Finally, you can use credit or debit cards or third-party payment options to add funds to your account.
Bybit vs Huobi: Customer Support
Finally, it comes down to the customer support part. Both exchanges offer you various methods which you can use to reach out to their support team.
On one side, Bybit offers you a live chat option that can be used to get answers to commonly asked questions.
Even if it doesn’t provide you with any help, it will take you to a live agent who will solve your query. So it is a pretty straightforward process.
Alternatively, you can reach out to Bybit Support through their Twitter Helpdesk at @BybitHelpdesk. They also have a support email if you prefer to go that way.
On the other side, Huobi also has a support chat where you will find answers to the most common questions. And when no help can be found, it will transfer your query to customer service, and you can talk to their live support agent.
However, Huobi doesn’t have any Twitter handle where you can seek support. But it does have a support email.
Overall, Bybit does a better job when it comes to offering support. The chatbot is easier to navigate through. Plus, it offers you multiple support channels.
Bybit vs Huobi: Platform & Trading Experience
Both Bybit and Huobi have powerful trading terminals. On both exchanges, you get all the advanced features like charts, multiple order types, easy-to-use mobile apps, and more.
Talking about Bybit, the exchange can process about 100k transactions per second and has an uptime of 99.9%. So be assured that your trades will be executed on time.
Additionally, it also has features like mark and index price, which prevent unwanted liquidations and offer liquidity depth so your orders will get executed instantly. To get a detailed guide, you can check this ByBit tutorial.
Huobi also has a 100% uptime track record with a capacity of handling 100k transactions per second. Moreover, the exchange also offers you mechanisms like mark and index prices for a smoother trading experience.
Joining Huobi? Know How to short Bitcoin on Huobi?
How to Open Bybit Account?
- First, head over to Bybit.com and click on the Signup button.
- Next, fill in your details like Email and password, and follow the onscreen steps to create your account.
- Go to your Email for the verification code and verify your account.
- Once done, you are all set to start trading.
How to Open a Huobi Account?
- Go to Huobi.com and click on the Signup button.
- You can then sign up using your Email or phone number.
- Once your account is created, verify your Email, and you are good to go.
Among Bybit vs Huobi, Bybit is a clear winner. The exchange not only offers you different derivative products, which most traders prefer to trade.
But it also has a simpler fee structure and offers you quicker support.
You also get high leverage for many cryptocurrencies and support multiple methods of depositing and withdrawing funds.
However, Huobi is not that bad, either. It also offers you all the features that Bybit has. Even it has more supported cryptocurrencies.
Plus, it has other features like crypto loans, OTC loans, and crypto staking that you cannot find on Bybit.
Check out how Bybit & Huobi compares to other exchanges: