There are so many cryptocurrency exchanges out there that give each other neck-to-neck competition. Among them, two of the popular exchanges are XT.com and ByBit.
In terms of features, both these exchanges are pretty similar. Hence, a lot of newbie traders are confused between XT.com vs Bybit.
Hence, to help you choose the best exchange for your crypto trading, I have compared both exchanges below. So you can quickly make a decision and pick the right exchange for your crypto trading requirements.
Our 2023's Recommendation  |
|
XT.com vs ByBit: At A Glance Comparison
XT.com is known as the world’s first social-infused cryptocurrency exchange. The exchange has been in operation since 2018, and it serves millions of users worldwide.
The exchange allows you to trade in different markets, such as spot, derivatives, and more.
Along with that, it has one of the lowest crypto trading fees in the market. Plus, you get access to other crypto features like crypto staking, ETH 2.0, strategy trading, and more.
On the other side, ByBit is known as the leading crypto exchange for day trading.
The exchange is widely used, and it has been in operation since 201. The crypto exchange is based out of Singapore, and it allows you to trade in various elements.
You can use the exchange to trade in Spot, Futures, USDT perpetual, and more. Plus, you get access to other crypto features too, such as trading bots, copy trading, crypto loans, and more. It also offers you sign-up bonus when you use ByBit’s referral code.
XT.com vs ByBit: Trading Markets, Products & Leverage Offered
Let’s start this comparison by discussing both exchanges’ product and market offerings. First off, the offerings are pretty similar, and here is how they stand at:
XT.com
- Spot Trading
- Margin Trading with up to 20x leverage
- ETF Trading
- USDT-M Futures with up to 125x leverage
- Coin-M Futures with up to 125x leverage
- P2P Trading
ByBit
- Spot Trading
- Margin Trading with up to 5x leverage
- Leveraged tokens with up to 2x leverage
- USDT perpetual contracts with up to 100x leverage
- USDC perpetual contracts with up to 125x leverage
- USDC options
- Inverse perpetual contracts with leverage up to 100x
Verdict: Overall, it is a pretty close match between XT.com and ByBit. But since ByBit has few more trading market offerings than XT.com, it is the winner.
XT.com vs ByBit: Supported Cryptocurrencies
XT.com
XT.com is a full-fledged trading platform where you will find more than 100+ high-quality crypto tokens. Plus, it supports over 500+ tokens and has 900+ trading pairs across the spot and derivatives market. Some of the listed tokens are:
- XT
- BTC
- ETH
- EOS
- XRP
- LTC
- ETC
ByBit
ByBit is not behind. The exchange also has lots of high-quality crypto tokens or popular crypto tokens. Along with that, you will find 350+ crypto tokens on the exchange.
Also, ByBit being a popular name, works at the forefront of launching many new tokens. Some of the listed tokens are:
- BTC
- ETH
- ARB
- XRP
- CLR
- CREAM
- HNT
Verdict: As you can see, XT.com supports more tokens compared to ByBit. It is the winner for this section.
XT.com vs ByBit: Trading Fee & Deposit/Withdrawal Fee Compared
Coming to the most important question, how costly these two exchanges are? Well, both these exchanges have a competitive trading fee, and here is how that stands:
XT.Com Spot & Futures Trading Fee
XT.com doesn’t have separate trading fees for spot and derivatives trading. Instead, it has a tiered fee structure with different levels.
Your tier is determined by your last 30 days’ trading volume. And the higher tier you have, the less you have to pay as the spot trading fee.
However, XT.com doesn’t offer you any additional discounts for holding any crypto token. Instead, the regular fee stands at:
- Maker Fee: 0.2000
- Taker Fee: 0.2000
XT.Com Deposits & Withdrawal Fees
Depositing is free on XT.com. However, when you deposit fiat through debit or credit cards, it will occur a transaction fee. The transaction fee would depend on your payment method selection.
On the other side, Withdrawals are chargeable for certain currencies on XT.com. But luckily XT.Com has P2P trading, which can be used for free fiat deposits and withdrawals.
ByBit Spot Trading Fee
Just like XT.com, ByBit also has a tiered fee structure that helps you to enjoy a lower trading fee as you climb up the tier. Also, there are no additional discounts on your trading fee. So the regular fee stands at:
- Maker Fee: 0.10%
- Taker Fee: 0.10%
ByBit Futures Trading Fee
The same tiered structure goes for derivatives trading as well, and you don’t get any discounts on the trading fee. So the regular fee stands at:
- Maker Fee: 0.06%
- Taker Fee: 0.01%
ByBit Deposits & Withdrawal Fees
Talking about ByBit’s deposit fee is completely free. But again, depending on how you are depositing fiat to the exchange, you might have to pay transaction fees. For certain payment options, there are no transaction fees.
For Withdrawal, ByBit does charge you a certain fee which depends on what cryptocurrency you are withdrawing.
Luckily, just like XT.com, there is P2P trading. So you can use it for free fiat deposits and withdrawals.
Joining ByBit? Know How to short Bitcoin on Bybit?
Verdict: ByBit’s trading fees are lesser than XT.com. Hence, it is a clear winner for this section.
XT.com vs ByBit: Order Types
XT.Com
- Limit
- Market
- Trigger
- Post Only
ByBit
- Limit
- Market
- Conditional
Verdict: As XT.com has a few extra types of orders, it wins this section.
XT.com vs ByBit: KYC Requirements & KYC Limits
XT.Com
XT.com doesn’t require you to complete user verification to trade on the exchange. However, without verifying your account, you are not allowed to deposit or withdraw fiat. But you have a daily crypto withdrawal limit of 50000 USDT/day.
KYC Limits
You can verify your account to get enhanced withdrawal and other features. XT.com offers you two types of verification. These are:
- Level 1: There is no fiat or cryptocurrency deposit limit. At the same time, the fiat withdrawal limit is at 50000 USD/day and the crypto withdrawal limit of 100000 USDT/day.
- Level 2: No limit on fiat and crypto deposit amount. But you get a daily fiat withdrawal limit of 500000 USD/day and a crypto withdrawal limit of 10000000 USDT/day.
ByBit
ByBit also doesn’t require you to complete your KYC (Know Your Customer) verification before you can start trading.
Instead, with just an email verification, you can deposit, access P2P trading, and withdraw funds. But if you verify your account, you will get enhanced limits.
KYC Limits
ByBit offers you three levels of KYC. These are:
- Basic (Requires No KYC): You will enjoy a daily withdrawal limit of 20,000 USDT and a monthly coin withdrawal limit of 100,000.
- Level 1: You will enjoy unlimited P2P trading with a fiat top-up of $20K daily and a coin withdrawal daily limit of 1,000,000 USDT.
- Level 2: You will enjoy a coin withdrawal limit of 2,000,000 USDT daily, along with $100K daily fiat top-up. Plus, there is unlimited P2P trading.
Verdict: As you can see, both exchanges don’t require you to complete your KYC. But I would still prefer XT.com. As with verification, you are getting a higher daily withdrawal limit.
XT.com vs ByBit: Deposits & Withdrawal Options
Both exchanges offer you plenty of ways to deposit and withdraw funds. These methods are:
XT.com
- Method 1: You can buy crypto using debit/credit cards or use alternative payment options like Simplex, ADV Wallets, etc.
- Method 2: Use P2P trading to deposit or withdraw funds using your local payment methods.
- Method 3: Deposit or withdraw funds from another crypto exchange or wallet (Subjected to network fees).
ByBit
- Method 1: Buy crypto using bank transfer, credit or debit cards, or any other locally available payment method.
- Method 2: Use P2P trading to deposit or withdraw funds using your local payment methods.
- Method 3: Deposit or withdraw funds from another crypto exchange or wallet (Subjected to network fees).
Verdict: As there is not so much of a difference between the deposit and withdrawal options, it is a tie between XT.com and ByBit.
XT.com vs ByBit: Trading & Platform Experience Comparison
The overall trading experience on both exchanges stands at a similar position. In terms of features, both exchanges have similar offerings and almost have the same user interface.
XT.Com
- Technical chart powered by TradingView
- Trading Pair details
- Order book
- Trades book
- Easy-to-use order form
- Multiple orders
- Position, following order, open orders, order history & fund flow
- Mobile app
ByBit
- 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
Interested in using ByBit? Learn How to trade futures on ByBit
Verdict: As there is hardly any difference in the trading experience, it is a tie between them.
XT.com vs ByBit: Customer Support
XT.com
Reaching out to XT.com’s customer support is pretty simple. You can use their live chat window to instantly connect with a live chat support agent.
Alternatively, you can also send them a support email to get your issue resolved quickly. However, the exchange doesn’t offer support through social media channels like Twitter.
ByBit
ByBit also has the same options as XT.com. You can use their live chat window to connect with a live support agent. Or you can use their support email if you want your issue to get resolved over email.
Alternatively, ByBit also provides support through its social media channels. For instance, you can get help by reaching out to @BybitHelpdesk on Twitter.
Verdict: As ByBit offers multiple ways to reach out to customer support, it is the winner for this section.
XT.com vs ByBit: Security Features
XT.com
- 2FA
- Anti-Phishing Code
- Device Management
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 devises Management
Verdict: As you can see, with ByBit, you are getting more security features. Hence, it is the winner for this section.
Is XT.com Safe & Legal To Use?
XT.com is a safe and trusted cryptocurrency exchange. Since the time the exchange was launched, there have not been any reports of hacking or compromising.
Also, it offers you a lot of security features to protect your account, and it keeps a majority of the user’s funds in cold storage.
Additionally, the exchange is also licensed and registered in Seychelles.
Is ByBit Safe & Legal To Use?
ByBit is widely trusted and known to be one of the safe and secure exchanges. It is widely popular, and the exchange has implemented several security features that protect your account.
Also, on the user’s side, you get many security features to safeguard your account from any potential threats.
Additionally, ByBit keeps a majority of the user’s funds in cold storage, and it doesn’t have any history of hacks.
XT.com vs ByBit Conclusion: Why not use both?
In the end, ByBit wins the battle over XT.com. The exchange not only has lower trading fees for both spot and futures markets.
But it also offers you many other features that you won’t find on any other exchanges, such as copy trading, P2P trading, bot trading etc.
But XT.com is also a solid exchange. It has all the necessary features and competitive trading fees. Even it offers a higher daily withdrawal limit compared to ByBit.
Our 2023's Recommendation |
|
See How XT.com & ByBit compares to other exchanges:
- ByBit vs Binance
- ByBit vs Delta Exchange
- ByBit vs Coinbase
- ByBit vs Crypto.com
- ByBit vs Pionex
- ByBit vs Huobi
