Comparison of Bybit vs Bitmart [ 2024 ]

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

Your expert: Alejandro Borja

bybit

Bybit

Your expert: Xavier Tarrasó

bitmart

Bitmart

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5
0.09%/0,25%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
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 fees with some additional costs for specific services.

Level

≤0,10%
0.09%/0,25%

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.
BitMart’s commission structure is designed to be competitive within the cryptocurrency exchange market. The platform utilizes a tiered fee system based on trading volume, which encourages more frequent trading by reducing costs for high-volume traders. Generally, the fees for makers, who add liquidity to the market, are lower than for takers, who take liquidity away. This fee structure not only supports liquidity but also rewards users who contribute to the market dynamics. While specific percentages vary, they are kept transparent on the platform, ensuring traders can plan their transactions with clarity regarding potential costs.

Bybit

Bitmart

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Product selection

Native token

No
No

Earns

Yes
Yes

NFT marketplace

Yes
Yes

Cripto/debit card

Yes
Yes

Company information

Full name

Bybit Fintech Limited
GBM Foundation Company

Regulation

Not regulated
Not regulated

Year founded

2018
2017

Founder

Ben Zhou
Sheldon Xia

Payment methods

Transfers

No
No

Mastercard

No
Yes

Wire transfer

No
No

Card

No
Yes

Comparative table

Bybit FEATURES Bitmart
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.
Minimum Trade
BitMart offers a relatively low minimum trade amount, making it accessible for beginners to start trading without significant capital.
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 could be improved to match lower rates offered by some other exchanges.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.
Number of Cryptocurrencies
BitMart supports a wide array of cryptocurrencies, providing users with a diverse range of trading options.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.
Crypto-to-Crypto Trading Pairs
Offers a substantial number of crypto-to-crypto trading pairs, allowing for versatile trading strategies.
The website provides clear and detailed information about trading conditions, fees, and security measures.
Website Transparency
The website provides essential information; however, more detailed disclosures about security practices and fund management could enhance transparency.
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
BitMart does not offer its own exchange card for customers to use for in-store purchases and receive 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
Provides secure storage options with the majority of assets held in cold storage, though past security breaches have impacted their score.
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 competitive staking options and rewards, appealing to users looking to earn through their crypto assets.
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 highly user-friendly and feature-rich, providing a seamless trading experience.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.
Customer Service
Customer support is available, but response times can be slow. More resources towards improving service responsiveness are needed.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.
Deposit and Withdraw
BitMart offers multiple deposit and withdrawal methods, but improvements could be made in processing times and fee structures for withdrawals.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features
Basic charting tools, some advanced features for futures

Mobile APP

Yes
Yes

Security

High 4,9/5
High 4,9/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program
Futures trading, staking, lending services, BitMart token (BMX) rewards

Anonymity

Yes
Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies
200+

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.
BitMart features an easy-to-use platform with a simple interface that is suitable for beginners. The exchange provides a seamless trading experience with all necessary features easily accessible.

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 low trading fees and a diverse range of supported cryptocurrencies, making it a cost-effective option for traders.

Countries of operation

Singapore, Japan, South Korea, United States, Canada
United States, South Korea, Japan, China, Singapore

Best for

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.
Suitable for traders of all experience levels who want access to a diverse range of cryptocurrencies and low trading fees.

Base currencies available

USD, USDT, BTC
USD, BTC, ETH, 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.
BitMart is a global exchange with a good variety of cryptocurrencies and competitive fees. It offers advanced trading options but has faced some security and regulatory challenges.

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.
BitMart provides diverse deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, typically within a day. Fees are reasonable, enhancing user experience.

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.
BitMart offers an easy and fully digital account opening process. Users need to provide personal details and verify their identity. The process is usually quick, taking less than a day to complete.

KYC required?

Yes
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.
BitMart provides support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support can be inconvenient for users needing immediate assistance.

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.
BitMart provides strong security with 2FA, SSL encryption, and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

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.
As an expert on our website, I recommend BitMart for traders who value a wide selection of cryptocurrencies and robust trading platforms. While the exchange offers strong security measures and diverse trading options, potential users should be aware of the historical security breaches and occasionally slow customer service. Overall, BitMart provides a user-friendly experience with competitive trading fees, making it a solid choice for both beginners and experienced traders looking to expand their crypto portfolios.

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.

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