Comparison of Bybit vs Buyucoin [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bybit vs Buyucoin comparison!

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Buyucoin

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,24%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.7 – Reasonable fees but higher for certain payment methods.

Level

≤0,10%

0,24%

Brief explanation

Bybit’s commission structure is designed to be competitive and appealing to both high-volume traders and occasional participants. The platform primarily charges two types of fees: maker fees and taker fees. The maker fee can reward users for adding liquidity to the market, typically set below the industry average, while the taker fee is slightly higher due to the nature of removing liquidity. For trading derivatives such as perpetual contracts, Bybit charges a taker fee of 0.075% and provides a maker rebate of 0.025%, which means makers actually earn a credit for executing trades. This fee structure is particularly attractive to those who trade frequently or utilize trading bots to maintain liquidity on the exchange. Overall, Bybit’s fee strategy supports a dynamic trading environment, encouraging both the provision and taking of liquidity while keeping costs transparent and manageable for traders of all levels.

BuyUcoin charges a flat trading fee of 0.24% for each transaction, which is relatively competitive within the Indian cryptocurrency market landscape. This fee applies equally to both makers and takers, simplifying the cost structure and making it easy for users to understand exactly how much they will be charged per trade. This transparency in fee structure is a significant advantage, as it helps users plan their trading activities without worrying about variable costs or hidden charges. In addition to trading fees, BuyUcoin also implements withdrawal fees that vary depending on the cryptocurrency being withdrawn. These fees are generally in line with industry standards, although they may be slightly higher for certain assets. Importantly, there are no deposit fees, which makes it economical for users to fund their accounts. Overall, the cost of trading on BuyUcoin is balanced by the convenience and range of features it offers, making it an attractive option for both new and experienced traders in the Indian market.

Bybit

Security Methods: Bybit employs robust security practices, including cold storage for digital assets, real-time risk audits, and two-factor authentication (2FA) to protect user accounts and funds. This comprehensive approach ensures a secure trading environment.
Reputation and Reviews: Since its inception, Bybit has maintained a strong reputation within the crypto community for its reliability, advanced trading features, and user-friendly interface. Positive reviews across various forums and its low incident of security breaches contribute to its credibility.
Trading Volume and Liquidity: Bybit is known for its deep liquidity and high trading volume, facilitating seamless execution of trades without significant slippage, even during volatile market conditions. This is crucial for traders looking to execute large orders.
Transparency: Bybit provides clear and detailed information on trading fees, funding rates, and insurance funds. It regularly publishes updates about system upgrades and security enhancements, demonstrating transparency in operations and communications with its users.
Customer Service: Bybit offers 24/7 customer support with a multilingual team accessible via live chat, email, and social media. This constant availability ensures that user queries and issues are resolved promptly, enhancing user trust and satisfaction.

Read bybit review

Buyucoin

Security Measures: BuyUcoin employs robust security protocols including SSL encryption, two-factor authentication (2FA), and cold storage of digital assets, ensuring that user funds and data are protected against unauthorized access.
Volume and Liquidity: BuyUcoin handles a significant trading volume, ensuring liquidity that facilitates easier and faster transactions without substantial price volatility, which is critical for both new and experienced traders.
Regulatory Compliance: Operating within the legal framework of India, BuyUcoin adheres strictly to the regulatory requirements set forth by Indian authorities, which reinforces its legitimacy and trustworthiness.
Transparency: BuyUcoin maintains transparency in its operations with clear information on trading fees, withdrawal charges, and other pertinent operational procedures, enabling users to make informed decisions.
Customer Service: The exchange is committed to providing quality customer service with a comprehensive support system that includes FAQs, email support, and social media engagement, ensuring that user inquiries and issues are addressed promptly.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

iBlock Technologies Private Limited

Regulation

Not regulated

Year founded

2018

2016

Founder

Ben Zhou

Shivam Thakral, Devesh Aggrawal, Atulya Bhatt

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bybit	FEATURES	Buyucoin
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	BuyUCoin allows users to start trading with relatively small amounts, making it accessible for beginners.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	The platform offers competitive trading fees, although they can be higher compared to global standards, impacting high-volume traders.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Supports over 40 cryptocurrencies, providing a decent range for traders looking to explore different digital assets.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	BuyUCoin offers a moderate number of crypto-to-crypto trading pairs, sufficient for new traders but limited for advanced users.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	The website provides essential information; however, some users may find details on fees and specific policies need clearer presentation.
Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.	Credit/Debit Card	While BuyUcoin provides a range of innovative cryptocurrency services and trading options, the absence of a branded exchange card limits the convenience and utility for users seeking to spend cryptocurrency directly in stores or to enjoy additional cardholder benefits.
Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.	Storage Offering	BuyUCoin offers a secure wallet service for storing cryptocurrencies, although it’s not as feature-rich as some dedicated wallet services.
Offers basic staking features but is not as competitive as other platforms that provide higher yields and more variety in staking options.	Staking and Rewards	Currently lacks options for staking and earning rewards, which could enhance user engagement and investment returns.
Both the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly, providing a seamless trading experience across devices.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Slow response times have been a notable issue; improvements are needed to provide timely and effective support.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	BuyUCoin supports a variety of deposit and withdrawal methods, including direct bank transfers and UPI, though international options are limited.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Staking, BuyUCoin Cash rewards, recurring buys, OTC trading

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

30+

User-friendliness

Bybit offers a user-friendly platform that is easy to navigate, with a focus on derivatives trading. The interface is designed to be accessible to both beginners and experienced traders.

BuyUCoin features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

Offers good value for money with low trading fees and advanced trading features, suitable for both retail and institutional traders.

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

India, United States, United Kingdom, Canada, Australia

Best for

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.

Suitable for Indian investors and other traders looking for a user-friendly platform with competitive fees.

Base currencies available

USD, USDT, BTC

INR, USDT

Account

Trading

Bybit is known for its derivatives trading and leverage options. It offers advanced trading tools and high liquidity but is not suitable for beginners due to its complexity and risk.

BuyUCoin is an Indian exchange with a good range of cryptocurrencies and easy fiat integration. It has competitive fees but lacks some advanced trading features.

Deposit and withdrawal

Bybit supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, usually within a few hours, with low fees.

BuyUCoin offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

Bybit offers a seamless and fully digital account opening process. Users need to fill out personal information and verify their identity. The process is quick, typically taking less than a day to complete.

BuyUCoin provides an easy account registration process. Users need to provide personal information and verify their identity. The process is efficient and usually takes less than a day, making it user-friendly.

KYC required?

Yes

Customer Service

Bybit provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

BuyUCoin offers customer support through email and live chat. The support team is responsive and helpful, but the absence of phone support and limited hours can be a limitation.

Security

Bybit provides robust security features with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

BuyUCoin employs standard security measures, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts here at Threenvest, I’d like to share a brief recommendation about using Bybit. Bybit offers a robust platform that caters well to experienced traders looking for advanced trading options in the crypto derivatives market. Its high-performance trading engine ensures rapid execution of trades, which is crucial during volatile market conditions. If you’re comfortable with high leverage and complex trading instruments, Bybit can be a powerful tool in your trading arsenal. However, beginners should tread carefully, given the platform’s complexity and the inherent risks of leveraged trading.

Xavier Tarrasó

As an expert reviewer on our website, I recommend BuyUCoin for Indian investors looking to enter the cryptocurrency market. Its user-friendly interface, combined with a diverse selection of cryptocurrencies and innovative features like a virtual demo account and NFT marketplace, makes it an appealing choice. However, potential users should be aware of its limited international accessibility and slower customer service, which could impact trading efficiency and user satisfaction. Overall, BuyUCoin is a solid choice for those based in India seeking a comprehensive crypto trading and investment platform.

View all comparisons against Bybit

View all comparisons against Buyucoin

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.