Libertex and ByBit are two of the popular trading and investing platforms online.
On one side, Libertex offers you access to different markets like crypto, stocks, forex, and more. But ByBit, on the other side, offers a smoother crypto trading experience.
Hence, many newbies are confused between Libertex vs ByBit and are not sure which one should be the perfect option for crypto trading.
But not to worry, I will be comparing both exchanges from a crypto trader’s point of view. So here we go:
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Libertex vs ByBit: At A Glance Comparison
Libertex is one of the trusted crypto CFD platforms that has been operating since 1997. The exchange is globally available and has several years of experience.
With the exchange, you can trade in different markets like crypto, forex, metals, indices, and more. The exchange also has spread from 0.00 and offers up to 1:500 leverage. Plus, it offers you a smoother trading and investing experience.
ByBit is the best crypto futures exchange. The exchange has been in operation since 2017, and within a short period of time, it has made its name.
The exchange offers a user-friendly trading environment for both newbies and advanced traders. Plus, you can use the exchange to trade in spot, futures and margin trading markets.
It also offers you several other crypto features like bot trading, copy trading, crypto loans, etc. Also, you can use ByBit referral code to get sign-up bonus.
Libertex vs ByBit: Trading Markets, Products & Leverage Offered
Starting with the market offerings, both Libertex and ByBit are far away from each other. Libertex offers you access to multiple markets.
However, when it comes to crypto trading specifically, it doesn’t have many options. But on the other side, under crypto trading, only you are getting different trading markets with ByBit.
Libertex
- Crypto CFD trading with up to 500x leverage
ByBit
- Spot Trading
- Margin trading with up to 5x leverage
- USDT-M and Coin-M perpetual futures contracts with leverage between 1x to 100x
- USDC perpetual futures contracts with leverage between 1x to 125x
- Leveraged tokens with up to 2x leverage
- USDC options
Verdict: As ByBit offers you more crypto trading markets, hence it is the clear winner for this section. But Libertex offers you higher leverage.
Libertex vs ByBit: Supported Cryptocurrencies
Next, talking about the supported crypto tokens by both exchanges – you would again see a huge difference.
Libertex
Libertex is quite disappointing in terms of supported tokens. As you have a limited number of tokens on the exchange. However, there is no mention of how many listed tokens there are, but compared to ByBit, it is very limited. Some of the listed tokens are:
- BTC
- XRP
- IOTA
- ETH
- NEO
- TRON
ByBit
Talking about ByBit supports over 350+ crypto tokens and futures trading pairs. Also, it lists new tokens from time to time. So you will always find new and unique tokens for investing or trading. Some of the listed tokens are:
- BTC
- ETH
- INJ
- ACH
- SXP
- XRP
Verdict: As ByBit has a higher number of supported tokens, hence it is the winner for this section.
Libertex vs ByBit: Trading Fee & Deposit/Withdrawal Fee Compared
Libertex Trading Fee
Libertex doesn’t have the trading fee model followed by most crypto exchanges. Instead, here is what it has to offer:
- Zero commission fees for trading any cryptocurrency CFDs
- It has a new commission-free trading model that applies to all transactions for all cryptocurrencies CFDs.
- There is a 0% swap for overnight positions
Libertex Deposit & Withdrawal Fees
Deposits are free on the exchange. However, Libertex does charge your withdrawal fees. The withdrawal fees depend on the currency you are withdrawing and the withdrawal method.
ByBit Spot Trading Fee
ByBit follows a maker-and-taker fee model like most crypto exchanges. It also has different tiers with different fee rates. So the higher your 30days trading volume is, the lower the trading fee you have to pay. Overall, the regular fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
Crypto derivatives trading, too, it has a similar tiered fee structure. And the regular fee stands at:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
USDC Options Trading Fee
- Maker Fee: 0.01%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Talking about deposits, there are absolutely no fees. But you may still have to pay transaction fees when depositing fiat to the exchange. The transaction fee will be charged by the payment processor.
However, for withdrawals, ByBit does charge you a certain fee. The fee depends on what cryptocurrency you are withdrawing. Also, for fiat withdrawals, there will be a transaction fee depending on what withdrawal method you have selected.
But you can enjoy completely free deposits and withdrawals without additional charges by using ByBit’s P2P trading.
Verdict: Libertex is a clear winner in terms of trading fees. As it has zero commission fees for trading any cryptocurrency CFDs.
Libertex vs ByBit: Order Types
Talking about the supported order types, both exchanges have similar offerings. These are:
Libertex
- Now (Market Order)
- Pending Order (Limit Order)
ByBit
- Limit
- Market
- Conditional
Verdict: This was a close match between the exchanges, but ByBit is a clear winner. As it supports one extra order type.
Libertex vs ByBit: KYC Requirements & KYC Limits
Libertex
Libertex is a regulated company. As a result, the exchange requires you to verify your account. You are required to complete your KYC within 15 days of registration.
However, the exchange doesn’t have different KYC levels. But the verification process can be a little complicated.
As it requires you to send them a double-page scanned coloured copy of your open passport or National ID with other documents.
ByBit
ByBit, on the other hand, doesn’t require you to complete KYC (Know Your Customer). Without verifying your account, you can deposit or withdraw funds and place trades.
With just an email verification, you will enjoy a daily withdrawal and monthly withdrawal limit of 20,000 USDT and 100,000 USDT, respectively.
Also, if you want to verify your account for enhanced trading privileges, the process is much smoother compared to Libertex.
KYC Limits
- Level 1: A daily fiat deposit limit of 20,000 USD and a daily withdrawal limit of 1,000,000 USDT. Plus, you will get access to unlimited P2P trading.
- Level 2: A daily fiat deposit limit of 2,000,000 USDT with a daily withdrawal limit of $100K daily fiat top-up along with unlimited P2P trading.
Verdict: As ByBit doesn’t require you to verify your account to start trading and has a straightforward user verification method. It is the winner for this section.
Libertex vs ByBit: Deposits & Withdrawal Options
Libertex
Libertex offers you several ways to deposit and withdraw funds to your trading account. Most of these payment methods are different payment processors and gateways. Some of the available methods to deposit and withdraw funds are:
- PayPal
- Skrill
- Neteller
- Paysafe Card
- Instant Bank Transfer
- Debit or Credit Cards
ByBit
- Method 1: Use your credit or debit card, bank transfer, or other third-party available payment methods to deposit or withdraw funds.
- Method 2: Use P2P trading to deposit and withdraw funds in your local currency using your local payment methods at zero cost.
- Method 3: Deposit crypto through another crypto exchange or wallet.
Verdict: Although both exchanges offer you several ways to deposit and withdraw funds. But ByBit is still a better choice as it supports P2P trading for free deposits and withdrawals.
Libertex vs ByBit: Trading & Platform Experience Comparison
Libertex and ByBit are quite different when it comes to the overall trading experience.
As Libertex is not only a crypto trading exchange, but it allows you to trade in different markets. But ByBit is a full-fledged crypto-exchange only meant for crypto trading.
Libertex
- Multiple Trading Pairs
- Basic Technical Chart
- Trade sentiment & price change info
- Easy-to-use order form
- Demo account
ByBit
- Advanced & multiple technical charts, including TradingView
- Easy-to-use order form
- Trading pair details
- Multiple trading pairs
- Order book
- Recent trades
- Positions closed P&L,
- Current orders, order history, and trade history
- Easy-to-use mobile app
To know more about the exchange, check this quick guide on trading futures on Bybit.
Verdict: Overall, ByBit has an advanced trading platform compared to Libertex, which will make your trading experience better and smoother.
Libertex vs ByBit: Customer Support
Libertex
When it comes to getting support from Libertex, the options are quite limited as you can only get help by raising a support ticket. There is no live chat window, and they offer their support through social media channels like Twitter.
ByBit
ByBit offers you multiple ways to contact support. The easiest way to use ByBit’s live chat window is to connect with a live chat support agent.
Alternatively, you can also send them a support email or connect via their social media channels like Twitter at @BybitHelpdesk.
Verdict: As ByBit is offering more ways to connect to the support. It is the winner for this section.
Libertex vs ByBit: Security Features
Libertex
Liberex is pretty basic when it comes to security features. These features are:
- Two-Factor Authentication (2FA)
ByBit
ByBit is a better choice in terms of account security features. As you are getting features like:
- Two-Factor Authentication (2FA)
- Device Management
- Real-Time Monitoring
- Advanced-Data Protection
- Triple Layer Asset Protection & Platform Security
- Anti-phishing Code
- Fund Password
- Withdrawal Address Whitelist
- Withdraw via Address Book
Verdict: As you can see ByBit has more security features compared to Libertex. Hence, it is the winner for this section.
Is Libertex Safe & Legal To Use?
Libertex is one of the trusted online stock and crypto CFD brokers out there.
The exchange is one of the oldest brokers in the market with years of experience and offers highly reliable services.
The broker was also awarded as the most Trusted broker and Best Trading Platform in 2021. Also, the exchange doesn’t have any history of hacks. However, the broker is not globally available.
Is ByBit a Safe & Legal To Use?
ByBit is one of the safest yet trusted crypto exchanges out there. The exchange has quickly made its name in the crypto world and offers highly reliable services.
The exchange offers several features to safeguard your accounts, such as 2FA, device management, and more.
Also, it keeps users’ funds in cold storage. Also, the exchange doesn’t have any history of hacking attacks to date.
Libertex vs ByBit Conclusion: Why not use both?
Overall, both exchanges are pretty solid in their respective areas. But I would prefer ByBit any day because of the simplicity and the crypto trading features it is offerings.
Depositing and withdrawing funds on ByBit is super easy. Plus, it offers you an advanced trading environment and easy to use mobile app.
But Libertex cannot be ignored.
The exchange offers you high leverage for Crypto CFD trading and has several ways to deposit and withdraw funds. Plus, the broker is backed by years of experience.
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Learn how does Libertex and ByBit stack up against the competition.
