Comparison of Bybit vs 50X [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bybit vs 50X comparison!

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

50X

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0.20%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.8 – Competitive fees but slightly higher than industry leaders.

Level

≤0,10%

0.20%

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.

50x employs a relatively straightforward commission structure designed to accommodate both casual and serious traders. The exchange charges a standard trading fee that is competitive with industry norms, yet it varies slightly depending on the trading pair and the volume. Importantly, 50x utilizes a tiered fee system; thus, higher trading volumes benefit from lower fees. This approach encourages active trading and can be particularly advantageous for traders planning to execute large volumes of transactions.

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

50X

Year Founded: The recent inception of 50x positions it as a modern platform designed with the latest technologies and a fresh approach to cryptocurrency trading.
Security Methods: 50x implements advanced security protocols, including multi-factor authentication and encryption, to protect user data and funds.
Trading Volume and Liquidity: Despite being a newer player, 50x is gradually increasing its trading volume and liquidity, which is essential for executing trades efficiently and minimizing slippage.
Reputation and Reviews: Early reviews highlight 50x's innovative trading features and technology, particularly praising the flexibility offered by its Any2Any trading system.
Customer Service: 50x has committed to a strong customer support framework, providing users with multiple channels for assistance and fast response times, which is crucial for building trust with users.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

AXX Exchange

Regulation

Not regulated

Year founded

2018

Founder

Ben Zhou

Alexander Udovichenko

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bybit	FEATURES	50X
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Allows small minimum trades, suitable for beginners testing strategies.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Competitive fees, but could be better explained on the website.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Offers a wide variety, though not the largest selection available.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Extensive pairs due to Any2Any technology, facilitating unique pairings.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	Needs more clarity on fees and liquidity sources.
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	Lacks an exchange card, missing out on potential benefits and convenience for users.
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	Provides secure storage solutions, though details are scarce.
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	Offers staking options, but fewer rewards compared to competitors.
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 platforms are robust but require a learning curve.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Generally responsive with multiple support channels, though not 24/7.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Supports multiple methods but feedback suggests delays during high traffic.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Advanced charting tools, technical indicators

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Margin trading, futures contracts, staking rewards, advanced charting tools

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

100+

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.

50x offers a user-friendly interface that is intuitive for both beginners and experienced traders. The platform’s design emphasizes simplicity without compromising on advanced features, making it easy to navigate and execute trades efficiently.

Value for money

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

Provides good value for money with competitive trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for traders.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Ideal for experienced traders looking for competitive fees and a wide range of supported cryptocurrencies, as well as those interested in margin trading.

Base currencies available

USD, USDT, BTC

USD, BTC

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.

50x offers a robust trading platform with a wide range of cryptocurrency pairs. The interface is user-friendly, making it suitable for both beginners and experienced traders. Security features are strong, but liquidity might be lower compared to larger exchanges.

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.

50x offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Processing times are generally quick, but bank transfers can take several days. Fees are minimal.

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.

Opening an account with 50x is straightforward and fully digital. The process involves filling out basic personal information, verifying your identity, and typically takes less than a day to complete. No significant barriers to entry are noted.

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.

50x provides customer support through email and live chat. Responses are generally quick and helpful, but phone support is not available, which may limit immediate assistance for urgent issues.

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.

50x prioritizes security with two-factor authentication (2FA) and encryption. The platform has a good track record but lacks regulation by top-tier authorities, which may 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 reviewing 50x, I find its innovative Any2Any trading technology particularly compelling for those interested in exploring a wide range of crypto pairings. This feature alone sets it apart in a crowded market. However, newcomers should be prepared for a learning curve due to the platform’s complex interface. I recommend 50x for traders who have some experience and are looking for new trading opportunities in a secure and technically advanced environment.

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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.