CoinEx and ByBit are two of the well-known crypto exchanges out there. Both of them are quite similar in many cases, such as market offerings, leverage, supported tokens, and more.
Hence, for any newbie, it gets really confusing to choose between Coinex vs ByBit.
But not to worry, to help you choose the best exchange for futures crypto trading for your needs, I have compared both of them below at many key factors.
So let’s dive into the topic right away:
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CoinEx vs ByBit: At A Glance Comparison
CoinEx is one of the leading cryptocurrency exchanges.
It has been operating since 2017, and it acts as your one-stop solution for everything crypto. You can use the exchange to trade in markets like spot and futures.
The exchange is also known for offering one of the lowest trading fees in the market and has the best business security measures in place.
ByBit is one of the top cryptocurrency derivatives exchanges trusted by millions of users worldwide. The exchange was founded back in 2018.
With ByBit, you will also get everything related to crypto. Be in trading in the spot and futures market. Or you can use other advanced trading features such as copy trading, trading bot, and more. Plus, it has one of the lowest trading fees. Also, you can use this coupon code to get ByBit sign-up bonus.
CoinEx vs ByBit: Trading Markets, Products & Leverage Offered
When it comes to product offerings, both exchanges stand at an equal position with few differences. The product offerings from both exchanges are:
CoinEx
- Spot Trading
- Margin Trading with different leverages like 3x, 5x and 10x
- USDT Futures Trading with leverage up to 100x
Note: CoinEx doesn’t offer you Coin-M perpetual contracts.
ByBit
- Spot Trading
- Crypto margin trading with leverage up to 5x
- Crypto Leveraged Tokens with leverage of up to 2x
- Perpetual contracts settled in USDT with leverage up to 100x
- Perpetual contracts settled in USDC with leverage up to 125x
- Coin-M Perpetual contracts with leverage up to 100x
- USDC Options
- P2P Trading
Verdict: As ByBit has more market types and higher leverage, it is the clear winner for this section.
CoinEx vs ByBit: Supported Cryptocurrencies
Now coming to the number of tokens and trading pairs offered by both exchanges. Both exchanges let you trade in the most popular tokens. But you will also find many new tokens on both CoinEx and ByBit.
CoinEx
CoinEx stands at a solid position in terms of the crypto pair’s availability, as the exchange allows you to trade in more than 600 cryptocurrencies.
Also, apart from the popular tokens, CoinEx primarily focuses on innovative crypto assets. Some of such tokens are:
- CET
- USDC
- ADA
- XRP
- BTC
- ETH
- BNB
ByBit
ByBit is not behind. In fact, it offers you access to more than 350+ trading pairs.
Also, ByBit being a popular exchange works as the gateway for many new coins to get launched. So you get a mix of both popular and new tokens for trading. Some of the listed tokens are:
- APT
- MATIC
- MASK
- XRP
- ARB
- BTC
- ETH
Verdict: CoinEx supports more tokens than ByBit, so it wins this section.
CoinEx vs ByBit: Trading Fee & Deposit/Withdrawal Fee Compared
Let’s now look at the key element of choosing a crypto exchange – the trading fee. And here is how both exchanges compare:
CoinEx Spot Trading Fee
Just like many other crypto exchanges, CoinEx too has a tiered fee structure. But it doesn’t follow a maker-and-taker fee model. Instead, it charges you a flat fee for your trades.
Additionally, unlike other exchanges, the tier is not based on your last 30 days’ trading volume. Instead, your tier is based on your CET (CoinEx’s native tokens) holdings.
So the higher number of CET you have in your wallet, the less you have to pay as the trading fee.
The regular spot trading fee stands at:
- Trading Fee: 0.2000%
- With CET Holdings: 0.1600%
CoinEx Futures Trading Fee
For futures trading, CoinEx also has a tiered fee structure which is based on your CET holdings. But this time, it does follow a maker-and-taker fee model. So the regular trading fee stands at:
- Maker: 0.0300%
- Taker: 0.0500%
CoinEx Deposit & Withdrawal Fee
There are no charges for depositing funds to your COinEx wallet. But if you are depositing fiat using bank transfer, credit/debit cards, or other third-party payment options, then it might occur a transaction fee.
For withdrawals, CoinEx does charge you a certain fee. The fee depends on what currency you are withdrawing.
Unfortunately, there is no way to enjoy free deposits and withdrawals as there is no P2P trading. Nor the exchange allows you to withdraw fiat.
ByBit Spot Trading Fee
ByBit also follows a similar tiered fee structure and follows a maker-and-taker fee model. But unlike CoinEx, your tier is based on your last 30 days’ trading volume. So the higher volume you trade, the lesser you have to pay as the trading fee.
But there are no additional trading discounts. So the regular fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
For Bybit futures or derivatives trading, it has a similar tier with no additional discounts. So the regular fee stands at:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Just like CoinEx, there are no charges on deposits.
But when depositing fiat, you might get charged a transaction fee depending on what payment method you are selecting to deposit fiat. Also, for certain payment methods, there are no discounts.
But for withdrawals, ByBit does have fees. But the fee again depends on what currency you are withdrawing.
Luckily, ByBit offers you the option of P2P Trading. As a result, you can enjoy free fiat deposits and withdrawals using your local payment methods.
Verdict: Overall, it is ByBit that wins this section. The exchange has a straightforward trading fee model and requires no crypto holdings to avail discounts.
CoinEx vs ByBit: Order Types
CoinEx
- Limit
- Market
- Limit Stop
- Market Stop
ByBit
- Limit
- Market
- Conditional
Verdict: There is not much difference in terms of supported order types, it is a tie between CoinEx and ByBit.
CoinEx vs ByBit: KYC Requirements & KYC Limits
CoinEx
CoinEx doesn’t require you to verify your user account before you can start trading.
With just email verification, you are allowed to deposit and withdraw crypto. But for buying crypto using fiat, KYC is made mandatory by the exchange.
After verifying your user verification or KYC, you will enjoy a daily withdrawal limit of 1,000,000 USD. However, there are no KYC levels, and it has a complicated KYC process.
ByBit
ByBit also doesn’t have any mandatory KYC policy. With just a basic verification, you can deposit and withdraw funds.
It even allows you to access P2P trading without completing your KYC. But if you complete your KYC, you will only get access to a higher daily withdrawal limit.
KYC Limits
ByBit has three levels of KYC. Each level comes with its own KYC requirements and offers you a higher limit. These levels are:
- Basic (Requires No KYC): You get a daily withdrawal limit of 20,000 USDT. Along with a monthly withdrawal limit of 100,000 USDT.
- Level 1: You get an unlimited P2P trading limit. Along with a daily fiat-top-up limit of $20k. Plus, a withdrawal limit of 1,000,000 USDT per day.
- Level 2: You will get unlimited P2P trading with a daily withdrawal limit of 2,000,000 USDT with a $100K daily fiat top-up.
Verdict: While both exchanges don’t require you to complete your KYC. But I would still prefer ByBit – as it has a straightforward KYC model.
CoinEx vs ByBit: Deposits & Withdrawal Options
Depositing and withdrawal of funds should be as smooth as possible. And both exchanges do a pretty good job in this section.
CoinEx
- Method 1: You can use your credit, debit card, bank transfer, or third-party payment solutions to purchase crypto. However, you don’t get the option to withdraw fiat.
- Method 2: You can deposit or withdraw crypto tokens from another crypto exchange or wallet.
ByBit
- Method 1: You can use P2P trading to deposit and withdraw funds at zero cost using your local payment methods.
- Method 2: You can use your credit/debit card, bank transfer, or third-party payment methods to buy crypto (Subjected to transaction fees).
- Method 3: You can deposit or withdraw crypto tokens from another crypto exchange or wallet.
Verdict: As you can see ByBit supports more options of ways to deposit and withdraw funds. Hence, it clearly wins this section.
CoinEx vs ByBit: Trading & Platform Experience Comparison
In terms of the overall trading experience, both exchanges again stand at an equal position. You see a similar feature across the exchanges and the same interface. And here is how both exchanges compare to each other:
CoinEx
- Advanced technical chart offered by TradingView
- Multiple trading pairs with maximum leverage details
- Order book
- Easy-to-use order form
- Current positions and position history
- Cumulative PNL, balance, position margin etc., details
ByBit
- Deep liquidity
- 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: Even though the competition between these exchanges is pretty close, ByBit is still a better choice in terms of trading experience.
CoinEx vs ByBit: Customer Support
CoinEx
You can get help from CoinEx using its chat feature.
The chat feature can be accessed for both getting different help guides or connecting with a live support agent. The exchange also offers its help through email and social media channels like Twitter.
ByBit
In a similar manner, ByBit also offers you help through their live chat window, which can be used for both accessing support guides or connecting to a support agent.
Or you can send them an email to get help over email. Alternatively, you can also reach out to them at their Twitter handle @BybitHelpdesk to get help.
Verdict: As both exchanges have similar ways of offering support, it is a tie.
CoinEx vs ByBit: Security Features
CoinEx
- Google verification
- Trading password
- Restrict login IP
- Email anti-phishing code
- Withdrawal anti-phishing code
- Freeze account
ByBit
- Triple Layer Asset Protection
- & Platform Security
- Advanced-Data Protection
- Real-Time Monitoring
- 2FA
- Anti-phishing Code
- Fund Password
- Withdrawal Address Whitelist
- Withdraw via Address Book
- Trusted Devices Management
Verdict: As ByBit has more security features compared to CoinEx, it is the winner for this section.
Is CoinEx Safe & Legal To Use?
Yes, CoinEx is a safe crypto exchange to use.
The exchange is used by millions of users worldwide and has implemented strong security measures in place to help you protect your account.
Such as 2FA, multi-signature wallets, and so on. Plus, it keeps a majority of users’ funds in offline storage. Also, the exchange doesn’t have any history of hacks at all.
Is ByBit & Legal To Use?
ByBit is a legit cryptocurrency to use. The exchange is trusted by millions of users globally and doesn’t have any history of hacks.
The exchange is also compiled with multiple jurisdictions to offer its users a safe trading experience.
Plus, it offers you lots of tools to protect your account, and it keeps a majority of users’ funds in cold or offline storage.
CoinEx vs ByBit Conclusion: Why not use both?
In the end, it is ByBit that clearly wins this comparison. The exchange has a low trading fee and supports a wide range of markets and P2P trading.
As a result, your overall trading experience will be super smooth.
But I see CoinEx as no loser.
The exchange also has a competitive trading fee and a great user interface. So go ahead and check both exchanges out and see which one suits your needs.
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