Comparison of Bybit vs Abcc [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Abcc

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,10%

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

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Reasonable and low trading fees across various services.

Level

≤0,10%

0,10%

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.

ABCC Exchange implements a highly competitive fee structure, charging a uniform 0.10% trading fee for both makers and takers. This rate is significantly lower than the global industry average, which typically hovers around 0.25%. Such a fee model is advantageous for traders of all volumes, from small-scale to high-frequency traders, as it simplifies cost calculations and maximizes potential returns on each transaction. The clear and transparent fee policy at ABCC ensures that users are not subjected to variable rates or hidden charges, making it easier for traders to plan their trading strategies effectively.

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.

Abcc

Security Methods: ABCC employs robust security protocols, including multi-factor authentication, cold storage of assets, and encrypted systems to ensure the safety of user funds and data. These high-level security measures mitigate risks of hacking and unauthorized access, making it a secure platform for trading digital assets.
Trading Volume and Liquidity: The exchange boasts a substantial trading volume and liquidity, which is indicative of a healthy trading environment. High liquidity ensures that trades can be executed quickly and at desired prices, which is beneficial for all types of traders looking to capitalize on market movements.22
Reputation and Reviews: ABCC has built a strong reputation within the crypto community for its reliable and efficient service. Positive reviews from users across various platforms highlight the exchange’s user-friendly interface, technical capabilities, and its commitment to providing a secure trading experience.
Transparency: The exchange is known for its transparent practices, particularly in terms of fee structure and trading operations. ABCC provides clear information on all transactions and charges, allowing traders to make informed decisions without worrying about hidden fees.
Customer Service: ABCC places a significant emphasis on customer support with a comprehensive service that addresses user queries and issues promptly. This dedication to assisting users not only builds trust but also ensures that traders can use the platform with confidence, knowing that help is readily available.

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Account Minimum

Get started with just $100.

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Direct link to the website

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

ABCC Digital Asset Exchange

Regulation

Not regulated

Year founded

2018

Founder

Ben Zhou

Calvin Cheng

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Bybit	FEATURES	Abcc
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	ABCC allows low minimum trades, making it accessible for beginners, though not the lowest in the market.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Fees are competitive but can be complex and confusing for new users.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Offers a wide range of cryptocurrencies, suitable for diversified trading.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Provides an extensive array of trading pairs, enhancing trading flexibility.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	Generally transparent about fees and policies, though some details may be hard to find.
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	Does not directly support credit/debit card transactions, limiting fiat access.
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	Offers secure storage solutions, including cold storage options.
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	Provides staking options but is less competitive compared to leading exchanges.
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 mobile and desktop platforms are user-friendly and robust.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Customer service is available and responsive but could benefit from faster response times.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Supports a range of deposit and withdrawal methods, though not as extensive as some competitors.

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

Spot trading, margin trading, staking, ABCC token (AT) rewards

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

50+

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.

ABCC provides a straightforward and easy-to-use platform, ideal for beginners. Its clean layout and helpful guides make the initial learning curve less steep, allowing new users to get up and running quickly with their trades.

Value for money

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

Offers reasonable value for money with low trading fees and a variety of supported cryptocurrencies, though it may not have the lowest fees compared to some competitors.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Singapore, China, South Korea, United Kingdom, United States

Best for

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

Suitable for both beginners and experienced traders who are looking for a straightforward platform with a variety of supported cryptocurrencies and low trading fees.

Base currencies available

USD, USDT, BTC

BTC, USDT, ETH

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.

ABCC provides an intuitive trading environment with numerous cryptocurrency options. It features competitive trading fees and a solid security framework. However, it lacks advanced trading tools which might be a drawback for professional traders.

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.

ABCC supports a variety of deposit options such as bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed within 1-2 business days with low fees.

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.

ABCC offers an easy and fast account opening process. Users need to provide personal details, verify their identity with documents, and the account is usually approved within one business day. It’s user-friendly and efficient.

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.

ABCC offers customer support via email, live chat, and a help center. The response time is fast, and the support team is knowledgeable, although phone support is lacking.

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.

ABCC offers robust security features, including 2FA and cold storage for funds. However, it is not regulated by major financial authorities, which might be a drawback for users seeking high security.

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 cryptocurrency platforms, I find ABCC Exchange to be a solid choice for traders looking for a robust trading environment with a good variety of crypto options. However, I recommend potential users to familiarize themselves with its fee structure and customer service capabilities to ensure it meets their trading needs. While the platform excels in security and trading volume, enhancing transparency and simplifying its fee system could make it even more appealing to a broader audience.

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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.