In today’s comparison, we are going to look at Coinsbit vs Bybit.
Both these exchanges are extremely popular and offer a convenient way to buy and sell digital assets.
On one side, Coinsbit is a great option for spot trading. On the other side, Bybit makes it easy for you to trade crypto derivatives.
Now the question is, how do these two exchanges compare to each other? To answer this, I am going to compare Coinsbit and Bybit in many key areas.
So you can pick the ideal crypto exchange for your crypto trading needs.
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Coinsbit vs Bybit: At A Glance Comparison
Coinsbit is one of the popular cryptocurrency exchange platforms that allows you to buy, sell and trade digital assets. The exchange was founded in 2018, and it is based in Estonia.
Coinsbit is known for offering a secure yet user-friendly way to buy and trade crypto. However, unlike other crypto exchanges, it doesn’t offer you a wide range of market types.
Instead, with Coinsbit, you can experience an easy yet advanced spot trading experience. Also, it supports DEX trading. Simply connect your crypto wallet and trade crypto anonymously.
Bybit, on the other side, is a full-fledged crypto derivatives exchange. Meaning you can use the exchange to trade in the spot market along with derivatives markets like crypto futures and options.
The exchange was founded in 2018, and it is based out of Singapore. Within a short period of time, the exchange has become the favourite choice of many traders.
Also, Bybit offers you tons of crypto features such as copy trading, bot trading, crypto loans, liquidity mining, and so on. Moreover, you can also use the Bybit referral code to get sign-up bonus.
Coinsbit vs Bybit: Trading Markets, Products & Leverage Offered
Coinsbit
In terms of trading markets, Coinsbit options are pretty limited.
It only offers you spot trading but in two separate ways.
The first one is the usual spot trading, and the second one is crypto trading with DEX. Also, as the exchange doesn’t support derivatives trading, there is no involvement of leverage.
- Pro spot trading
- Crypto trading with DEX
Bybit
Bybit not only supports spot trading. But it also offers multiple trading markets, which is ideal for any crypto trader. These markets are
- Spot Trading
- Margin Trading with up to 5x Leverage
- USDT & Inverse Perpetual Futures Contracts with up to 100x Leverage
- USDC Perpetual Futures Contracts with up to 125x Leverage
- USDC Options
- Leveraged Tokens with up to 2X Leverage
- P2P Trading
- Copy Trading
Verdict: Bybit clearly wins this segment. The exchange supports more trading markets compared to Coinsbit. Plus, it offers you lucrative leverage for crypto derivatives trading.
Coinsbit vs Bybit: Supported Cryptocurrencies
Coinsbit
Coinsbit supports a limited number of crypto tokens. Although, there is no number on how many tokens are listed on the exchange. But be assured that you will find all the popular crypto tokens with a few ne ones. These coins are:
- LTC
- CNB
- SOL
- XRP
- BNB
- BDX
Bybit
Bybit supports more than 350+ crypto tokens and other trading pairs. It includes all the popular crypto tokens. Along with many new cryptocurrencies. Some of the listed crypto tokens are:
- USDC
- LTC
- BTC
- ETH
- XRP
- MATIC
Verdict: Without any doubt, Bybit emerges as the clear winner and a better choice. The exchange not only supports more tokens than Coinsbit. But also lists new crypto tokens from time to time.
Coinsbit vs Bybit: Trading Fee & Deposit/Withdrawal Fee Compared
Coinsbit Trading Fee
Coinsbit charges you a flat trading fee for spot trading. There are no maker or taker fees or a tiered fee structure on the exchange. Instead, it charges you a flat rate at:
- Fee for trading: 0.2%
Coinsbit Deposit & Withdrawal Fees
Talking about deposits and withdrawal fees, it charges you different deposit and withdrawal fees for both fiat and crypto deposits.
For instance, if you are depositing USD, then there is a minimum fee of 2 USD + ADV. Also, a minimum deposit limit is set at 10 USD.
Talking about the USD withdrawal fee, there is a minimum fee of 2 USD and has a minimum withdrawal limit set at 15 USD.
On the other side, if you are depositing USDT, then there are no charges. But for USDT withdrawal, there is a withdrawal fee of 1 USDT and a minimum withdrawal limit of 2 USDT.
The charges vary from one crypto token and fiat to another. So I would recommend you check Coinsbit’s trading fee page to get more clarity.
Bybit Spot Trading Fee
Bybit doesn’t charge you a flat trading fee. Instead, it follows a tiered fee structure with a maker and taker fee model.
The tier is based on your 30 days trading volume, and it will determine the trading fees you have to pay per trade. So you can reduce your trading fee by trading higher volume. And here is how the trading fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
Bybit Futures Trading Fee
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Compared to Coinsbit, Bybit is quite different when it comes to deposit and withdrawal fees. Bybit charges you zero fees for crypto token deposits.
But charges you withdrawal fees for crypto tokens which depend on the currency you are withdrawing and other factors. Also, yes, you are required to meet the minimum withdrawal limit.
Talking about fiat deposits/withdrawals, there will be a transaction fee and other additional charges depending on your payment method selection.
But fortunately, Bybit offers you P2P trading, which can be used for free funds deposits and withdrawals.
Verdict: Bybit stands out as a better choice in terms of trading fees. It not only has cheaper trading fees but has the room to avail extra discount by increasing your 30days trading volume.
Coinsbit vs Bybit: Order Types
Coinsbit
- Limit
- Market
Bybit
- Limit
- Market
- Conditional
Verdict: As you can see, Bybit is offering one extra order type – hence it is the winner for this segment. Using Bybit’s conditional order type, you can execute advanced orders and trade more efficiently.
Coinsbit vs Bybit: KYC Requirements & KYC Limits
Coinsbit
Coinsbit doesn’t require you to complete KYC. Without verifying your account, you are allowed to access crypto deposits and place trades.
However, when it comes to crypto withdrawal, you are required to complete KYC. Also, by completing KYC, you will get access to special exchange events and deposit fiat.
Bybit
To start trading on Bybit, you are required to complete your identity verification. The exchange didn’t need KYC verification earlier, but recently, they have made changes in their KYC policies.
However, unlike Coinsbit, Bybit has different levels of KYC. Depending on your KYC level, you will enjoy a different withdrawal limit.
KYC Limits:
On Bybit, you have two levels of KYC, these are:
- Level 1: With a monthly withdrawal limit set at 1,000,000 USDT and daily fiat top-up limit set at 20K USDT with unlimited P2P trading.
- Level 2: With a monthly withdrawal limit of 2,000,000 USDT and daily fiat top-up limit set at 100K USDT with unlimited P2P trading.
Verdict: Overall, both exchanges require you to complete KYC. Even though, Coinsbit don’t require KYC verification at first but made it mandatory for withdrawals. So it is a tie between Coinsbit and Bybit.
Coinsbit vs Bybit: Trading & Platform Experience Comparison
Coinsbit
Coinsbit being a spot trading exchange, doesn’t offer you way too many features under their trading platform. Instead, you will get access to basic and the required trading features. Such as:
- Technical Chart
- Order book
- Trading pair details
- Market history
- Easy-to-use order form
- Active orders, order history & trades history
Bybit
Bybit is much more advanced and rich-in features in terms of the overall trading experience. It has all the features and a great mobile app for effective trading. These features include:
- 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 learn more, you can check this guide on How to trade crypto futures on Bybit.
Verdict: Bybit undoubtedly wins the section. The exchange offers a smooth trading experience on both web and mobile app.
Coinsbit vs Bybit: Customer Support
Coinsbit
Coinsbit doesn’t offer way too many options or methods to get help.
The only way the exchange offers customer support is via support email. There is no live chat option, or the exchange offers help through their social media channels.
Bybit
Bybit is a favourable choice when it comes to getting customer support.
The exchange offers customer support in multiple ways.
Such as, you can get help via the live chat option. Alternatively, you can also get help over email, or you can reach out to Bybit on Twitter.
The exchange also has a quicker response time, and you won’t find it difficult to solve your issues.
Verdict: Bybit once again emerges as the clear winner. The exchange offers you customer support in multiple ways and has a faster response time.
Coinsbit vs Bybit: Security Features
Coinsbit
- Two-factor authentication
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: Bybit offers a bunch of security features and more than what Coinsbit is offering. So it is again the winner.
Is Coinsbit Safe & Legal To Use?
Yes, Coinsbit is a safe and secure platform to trade crypto. The exchange uses cold storage to ensure that the user’s funds are safe.
Along with that, it has also implemented several crypto features on the backend to keep your account protected.
Plus, it’s no withdrawal for unverified accounts brings additional security to the exchange. Moreover, the exchange doesn’t have any history of hacking attacks in the past.
Is Bybit Safe & Legal To Use?
Bybit is one of the most trusted and secure platforms to trade crypto and crypto derivatives. With zero history of hacking attacks or security breaches, the exchange is known for offering a safe experience to its users.
By bit users are getting access to several security features to protect their account. Also, the exchange has implemented various security measures and uses cold storage to protect users’ funds and data.
Coinsbit vs Bybit Conclusion: Why not use both?
Ultimately, it is Bybit that emerges as the most favourable yet better choice compared to Coinsbit.
The exchange doesn’t have its market offerings limited to spot trading.
But you can also trade in crypto futures and options, and that too at cheaper rates and high leverage. Along with that, the crypto futures platform offers you great customer support and a secure platform to trade crypto.
But Coinsbit is also not really a bad option.
Especially its DEX will help you to swap crypto without login and registration. Simply connect your crypto wallet to get started.
Our 2023's Recommendation |
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