Wondering about WhiteBIT vs Bybit – which crypto exchange should you choose?
If yes, then you are not alone. WhiteBIT and Bybit are two of the best crypto leverage trading platforms out there that have many features in common. Both exchanges are well-known and offer solid services.
But as a crypto trader, it can be really confusing to choose one between the two. Hence to make the decision easy for you, I have compared both exchanges at various factors.
So go ahead and look at this WhiteBIT and Bybit comparison:
WhiteBIT vs Bybit: At A Glance Comparison
WhiteBIT is one of the popular centralized crypto exchanges out there.
The exchange is trusted by millions of users and serves users across 190 countries. Also, it is one of the largest European crypto exchanges, founded back in 2018.
The exchange allows crypto to fiat transactions in Europe. Along with that, you would find a wide range of products and tools.
You can use the exchange for trading in the spot, margin, and derivatives markets. Plus, it offers you other features like crypto lending & WBT boost.
Bybit is one of the world’s fastest-growing crypto derivatives exchanges and trading platforms. The exchange is also trusted by millions of users globally, and it was established back in 2018.
The crypto exchange offers a wide range of features and trading markets. Using Bybit, you can trade in the spot, margin, and derivatives markets.
Plus, it also offers you additional crypto features such as crypto loans, liquidity mining, copy trading, and more. You can also get sign-up bonus using Bybit referral code when creating an account.
WhiteBIT vs Bybit: Trading Markets, Products & Leverage Offered
Just like any other crypto trading platform, WhiteBIT has basic offerings. But there is nothing extraordinary.
- Spot Trading
- Margin Trading with up to 20x Leverage
- USDT Margined Contracts Trading or Crypto Futures with up to 20x Leverage
On the other side, Bybit is much more advanced in terms of product offerings. It has all the offerings by WhiteBIT but comes with other options such as Crypto Options, Leveraged tokens etc.
- Spot Trading
- Margin Trading (5x Leverage)
- USDT Perpetual Futures Contracts (up to 100x Leverage)
- USDC Perpetual Futures Contracts (up to 125x Leverage)
- Inverse Perpetual Futures Contracts (up to 100x Leverage)
- USDC Options
- Leveraged Tokens (2X Leverage)
- Copy Trading
Verdict: Bybit is the winner. Bybit not only has more trading markets to offer but also has higher Leverage (125x) for crypto futures trading compared to WhiteBIT’s 20x Leverage for perpetual contracts.
WhiteBIT vs Bybit: Supported Cryptocurrencies
WhiteBIT supports a good number of tokens. On the exchange, you would find 200+ crypto tokens and 400+ trading pairs. Some of the listed tokens are:
Bybit has 350+ supported crypto trading pairs and tokens.
You will find all the popular cryptocurrencies. Plus, it also has many new and unique crypto tokens that can help you diversify your portfolio. Some of the listed tokens are:
Verdict: Bybit is the winner. It offers you a wide range of crypto tokens that can be pretty helpful for diversifying your crypto investment portfolio or in your trading.
WhiteBIT vs Bybit: Trading Fee & Deposit/Withdrawal Fee Compared
Choosing a crypto exchange with the lowest trading fee is the ideal choice. As it would help in reducing your losses and maximizing your profits.
WhiteBIT Trading Fees
WhiteBIT charges you the same fee for crypto spot and futures trading.
Also, there is no standard trading fee. Instead, the fee varies from one trading pair to another. But the trading fee never exceeds the 0.1% mark.
However, you can avail discount on your trading fee by owning WBT tokens. WBT owners can receive discounts of up to 90% on taker fees and up to 100% on maker fees.
So if you hold 400 WBT tokens, your maker fee would discount would be 10%, and the taker fee discount would be 5%.
WhiteBIT Margin Trading Fees
Talking about margin trading fees, traders will get charged a daily fee of 0.098% for the use of borrowed funds.
WhiteBIT Deposits & Withdrawal Fees
When it comes to WhiteBIT deposits and withdrawal fees, you will find plenty of free and paid options. If you are depositing fiat or national currency on the exchange, then depending on your payment method, you would be charged a fee.
Also, the same goes for fiat withdrawals.
However, when it comes to crypto token withdrawal, there are certain fees. The fee solely depends on what currency you are withdrawing, the blockchain network, and network conditions.
Unfortunately, with WhiteBIT, you don’t get P2P trading. So you don’t have the option to deposit or withdraw at zero cost.
ByBit Spot Trading Fee
Bybit has a much cleaner fee structure compared to WhiteBIT. It has different tiers but offers no additional discounts for holding certain currencies.
Instead, the trading fee discount depends on your 30days trading volume. The regular fee on the exchange stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
The same tiered fee structure also goes for Bybit futures. So the regular fee you have to pay is:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
First of all, Bybit does support P2P trading. So you can use it for free deposits and withdrawals.
But apart from P2P trading, there are no fees for depositing crypto tokens. But for fiat deposits, there is a transaction fee that depends on what deposit method you have selected.
However, withdrawals aren’t free on the exchange, and you would have to pay some charges for it. But again, the fee varies on different factors like the currency, blockchain, network conditions etc.
Verdict: Bybit is the clear winner because of its simplified fee structure. Plus, it allows you to deposit and withdraw funds at zero cost.
WhiteBIT vs Bybit: Order Types
- Stop Limit
- Stop Market
Verdict: WhiteBIT is the winner because it supports a few additional order types. Also, on both exchanges, you would find similar order types. So unless you are looking for something really specific, you can choose any exchange you prefer.
WhiteBIT vs Bybit: KYC Requirements & KYC Limits
WhiteBIT made it mandatory to complete your identity verification. It doesn’t allow you to deposit or withdraw without completing KYC.
Also, there are no KYC levels. So the basic verification would allow you to use the crypto exchange seamlessly.
Bybit is a non-KYC crypto exchange which means there is no need to complete your identity verification unless you are looking to enhance your deposits and withdrawal limits. You can easily deposit and withdraw crypto and place traders on the exchange without KYC.
The basic verification offers you 100,000 USDT monthly and a 20,000 USDT daily withdrawal limit.
On Bybit, you will find two levels of KYC. These are:
- Level 1: A monthly withdrawal limit of 1,000,000 USDT and daily fiat top-up limit of 20K USDT with unlimited P2P trading.
- Level 2: A monthly withdrawal limit of 2,000,000 USDT and daily fiat top-up limit of 100K USDT with unlimited P2P trading.
Verdict: Bybit is the winner because you can use the exchange without identity verification.
WhiteBIT vs Bybit: Deposits & Withdrawal Options
- Method 1: Buy crypto using Visa/Mastercard.
- Method 2: Deposit or withdraw crypto from another wallet or exchange.
- Method 1: Buy crypto using a credit/debit card, bank transfer, or other supported payment options.
- Method 2: Using ByBit P2P trading, you can deposit or withdraw funds using your local payment method.
- Method 3: You can deposit or withdraw crypto from another crypto wallet or exchange.
Verdict: Bybit offers more options for depositing and withdrawing funds – so it is the winner of this section.
WhiteBIT vs Bybit: Trading & Platform Experience Comparison
- Two types of Technical charts, including TradingView
- Easy-to-use order form
- Trading pair details
- Order book
- Price alerts
- Open orders, Order history, Trade history, Positions, Positions history, Funding history & Balances
- 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: It is a tie between WhiteBIT vs Bybit. Both exchanges offer a similar trading experience and have similar trading tools.
WhiteBIT vs Bybit: Customer Support
Contacting WhiteBIT support is pretty straightforward. On the website itself, you would find a support popup that can be used to connect with a live chat agent instantly.
You can also use their email address to get help through email. However, the exchange doesn’t offer help through its social media channels.
Contacting Bybit support is also pretty similar. You can use the chat option on its website to connect with a support page instantly.
The exchange also offers its help through email. Or you can reach out to Bybit on Twitter to solve your questions instantly.
Verdict: Reaching out to Bybit’s support is much more convenient and easy. So it is the winner for this section as well.
WhiteBIT vs Bybit: Security Features
- Two-factor authentication
- Anti-phishing code
- Address management
- 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: As you can see, with Bybit, you are getting an extended number of security features. Hence Bybit wins this section.
Is WhiteBIT Safe & Legal To Use?
WhiteBIT is one of the safest platforms to trade crypto. The exchange EU crypto exchange and custodial licenses.
Along with that, the exchange also focuses on different regulations to offer its users a safe trading experience and comes and uses several security features.
Moreover, the exchange also stores its users’ funds in offline storage and doesn’t have any history of security breaches.
Is ByBit Safe & Legal To Use?
Bybit is a legit cryptocurrency exchange.
The exchange has never been hacked, and it takes several security measures and precautions to ensure the user’s data and funds’ safety.
The exchange has also implemented several security features.
For instance, you cannot withdraw funds more than 3 times a day. As well as on the user’s end, there are many security features like 2FA, Anti-phishing code, and more.
WhiteBIT vs Bybit Conclusion: Why not use both?
In conclusion of this comparison, Bybit stands as a clear winner.
The exchange has turned out to be a better choice as various factors, be it trading markets offering, leverage, or trading fees. Also, you can use the exchange without identity verification for an anonymous trading experience.
But WhiteBIT is not really lacking behind.
The exchange is well-regulated, has one of the lowest trading fees in the market, and offers several other features. But we cannot deny the fact that WhiteBIT has lower leverage and a complex fee structure.
Check out how WhiteBIT & Bybit stacks up against the competition: