CoinW and ByBit are probably two of the most widely used and popular crypto exchanges out there. Both exchanges are pretty similar in many cases, be it market offerings, features, and other areas.
Hence, for any newbie crypto trader, it gets really challenging to pick one exchange between CoinW vs ByBit.
But even though both exchanges are pretty much the same, you would find many differences. That’s why to help you pick the right exchange, I have compared both of them below.
So go ahead and have a quick look at them:
CoinW vs ByBit: At A Glance Comparison
CoinW is one of the leading crypto exchange platforms out there. The exchange was founded back in 2017.
The exchange offers you services under the Spot and Futures markets. Along with that, you can also trade in ETF, it is known for offering one of the lowest trading fees in the market.
Apart from spot and derivatives trading, you can also use the exchange for other crypto trading services such as copy trading, Liquidity pool, CoinW earn, and more.
ByBit is known as one of the top cryptocurrency derivatives exchanges allowing you to trade in futures and spot markets. The exchange was established back in 2018, and within a short span of time, it has become extremely popular.
ByBit can be used for a wide range of purposes apart from basic trading, you can use it for margin trading, copy trading, or bot trading.
Also, you can use it for other use cases like crypto loans. The exchange also offers you Bybit promo code which you can use to get sign-up bonus.
CoinW vs ByBit: Trading Markets, Products & Leverage Offered
At a glance, you would find both exchanges offering similar product offerings. So let’s see how both of them compare:
- Spot Trading
- Futures trading in USDT with up to 200x leverage
- ETF Trading
- P2P Trading
- Copy Trading
- Spot Trading
- Futures trading in USDT with up to 100x leverage
- Futures Trading in USDC with up to 125x leverage
- Inverse Futures Contracts with up to 100x leverage
- USDC options
- Copy Trading
- P2P Trading
Verdict: As ByBit is offering more market types, it is the clear winner. But you cannot ignore CoinW’s 200x leverage for futures trading pairs.
CoinW vs ByBit: Supported Cryptocurrencies
Coming to the supported tokens by CoinW, well, there is no official number. However, as per the analysis, it has a limited number of tokens.
You can find a mix of both majorly traded tokens and newer coins. Some of the listed tokens are:
ByBit is a better choice in terms of supported tokens. As you can find, there are over 350+ trading pairs across the spot and futures market.
Also, ByBit launches new tokens from time to time on the exchange. Some of the listed tokens are:
Verdict: On ByBit, you will find more crypto tokens. Hence, it is the winner for this section.
CoinW vs ByBit: Trading Fee & Deposit/Withdrawal Fee Compared
Now coming to the most important, which are the trading fees. As a trader, you should pick an exchange that has the lowest trading fee. And here is a quick trading fees comparison:
CoinW Trading Fee
When it comes to CoinW’s spot and futures trading fees, it charges you the same rate. However, it does have different tiers and follows the regular maker-and-taker fee model.
Also, you have the option to avail good discount by buying certain CWT tokens (CoinW’s native token) one time in 30 days.
However, the only unique thing is that your trading fee tier is not decided by your 30 days trading volume.
So the regular fee stands at:
- Maker Fees: 0.2%
- Taker Fees: 0.2%
CoinW Deposits & Withdrawal Fees
Deposits are absolutely free on CoinW. However, if you are buying crypto using your credit/debit card or other payment options, then it will be subjected to a transaction fee.
But when it comes to crypto withdrawal, there are certain fees depending on what currency you are withdrawing.
However, CoinW supports P2P trading. You can easily deposit and withdraw fiat free of cost.
ByBit Spot Trading Fees
In terms of fees, ByBit is a better choice. It has the same tiered fee structure as the maker-and-taker fee model.
The tier is based on your 30 days trading volume, and there is no additional discount offered by the exchange. So the regular fees you will be charged at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
For futures trading, ByBit has a separate fee model while following the same tiered fee structure as the taker and maker fee model.
Also, you don’t get any discounts, and the regular fee stands at:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Deposits are completely free on ByBit. But if you are buying crypto using any sort of payment method, you will be paying a transaction fee. However, for certain payment methods, there are absolutely no fees.
For crypto withdrawals, you have to pay a certain fee which depends on what currency you are trying to withdraw.
Alternatively, you can also use P2P trading for fiat deposits and withdrawals at zero cost.
Verdict: ByBit is a better choice in terms of trading fees. It has a cheaper trading fee and a better-tiered fee structure compared to CoinW.
CoinW vs ByBit: Order Types
On both exchanges, you will see a limited number of order types. These are:
Verdict: It is a tie between CoinW and ByBit – as there is not much of a difference in terms of supported order types.
CoinW vs ByBit: KYC Requirements & KYC Limits
You don’t need to go through any verification process while using CoinW. However, unlike other exchanges, you don’t get to enhance your deposits or withdrawal limits.
Instead, by verifying your account on the exchange, you would get cheaper trading fees.
It has six different KYC levels with different trading fees. These are:
|Tier||Maker Fees||Taker Fees|
ByBit is a no KYC crypto exchange. As a result, it doesn’t require you to complete user verification or KYC. But unlike CoinW, by verifying your account, you won’t get a cheaper trading fee.
But it will enhance your trading limits. The basic verification comes with a daily coin withdrawal limit of 20,000 USDT and a monthly coin withdrawal limit of 1,000,000 USDT.
Apart from basic KYC, CoinW offers you two additional KYC levels. These are:
- Level 1: A daily fiat top-up limit of $20k, along with a daily coin withdrawal limit of 1,000,000 USDT. Also, you will get unlimited P2P trading.
- Level 2: A daily coin withdrawal limit of 2,000,000 USDT with $100K daily fiat top-up, along with unlimited P2P trading.
Verdict: CoinW is the winner for this section. By verifying your account, you will get cheaper trading fees.
CoinW vs ByBit: Deposits & Withdrawal Options
- Method 1: Buy crypto using a credit/debit card.
- Method 2: Deposit or withdraw crypto from another wallet or exchange (Subjected to network fee).
- Method 3: Use P2P trading to deposit and withdraw funds at no cost.
- Method 1: Buy crypto using a credit/debit card, bank transfer, or other payment options.
- Method 2: Use P2P trading for free fiat deposits and withdrawals.
- Method 3: Deposit crypto through another crypto exchange or wallet
Verdict: It is a tie between the exchanges. As you get similar ways to deposit and withdraw funds on both exchanges.
CoinW vs ByBit: Trading & Platform Experience Comparison
Both exchanges are kind of the same in terms of overall trading experience. But you would find slight differences. Such as:
- Technical chart by TradingView
- Easy-to-use order form
- Trading pair details
- Positions, Open orders, Copy Trades, Trigger history & Transaction History
- Order Book
- Recent Trades
- 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: Overall, I find ByBit’s trading experience is a better choice compared to CoinW. So ByBit wins this section.
CoinW vs ByBit: Customer Support
Talking about CoinW’s customer support, you can quickly get help by using its live chat window. You can use its live chat window to connect with a support agent instantly.
Or you can use it for accessing different help guides or raising a support ticket. However, CoinW doesn’t offer support through its social media channels like Twitter.
ByBit is not lacking behind when it comes to offering support. Just like CoinW, you can use the ByBit chat window to access different help guides or connect with live chat support.
Also, the exchange offers help through email or social media platforms like Twitter at @ByBitHelpdesk.
Verdict: As ByBit offers multiple ways to get support, it is the winner for this section.
CoinW vs ByBit: Security Features
Security is a crucial element for any crypto exchange. As a trader, you want to ensure that the exchange will offer you ultimate security to help you protect your account.
- SMS Authentication
- Google Authentication
- Trade Password
- Address Management
- 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: As ByBit offers way more security features compared to CoinW, it is the winner for this section.
Is CoinW Safe & Legal To Use?
CoinW is a safe platform to trade in the spot and futures market. It offers you a few important security features to help you protect your account.
Alongside, it also keeps its users’ funds in cold storage for unlimited protection. Also, the exchange doesn’t have any history of hacks.
Is ByBit Safe & Legal To Use?
Undoubtedly, ByBit is a safe platform to use. It is one of the leading crypto exchanges with millions of users worldwide. The exchange offers you tons of security features for unlimited security.
Along with that, it keeps its user’s funds in offline storage.
Moreover, the exchange is also compiled with many jurisdictions around the globe to offer a safe trading experience to its users.
CoinW vs ByBit Conclusion: Why not use both?
In the end, I would prefer ByBit over CoinW any day. ByBit offers you tons of features with low trading fees.
Also, the exchange is extremely easy to use across the web and mobile. Also, being one of the popular exchanges, it comes with its own advantages, like deep liquidity.
But CoinW is not really a loser. In fact, the exchange is pretty great if you want higher leverage. Also, through KYC verification, you can lower the trading cost.
So go ahead and check both exchanges out and see which one meets your requirements.
See how CoinW & ByBit compares to other similar crypto exchanges: