Comparison of Bybit vs Changenow [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Changenow

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

Fees

hidden

Earns

Yes

Customer service

3/5

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Competitive fees with a focus on instant crypto swaps.

Level

≤0,10%

hidden

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.

ChangeNOW simplifies the process of trading cryptocurrencies by imposing a straightforward fee structure that varies depending on the transaction and the currency pair used. Typically, ChangeNOW integrates a service fee directly into the exchange rate, which means the rates you see already include the fee, ensuring transparency and avoiding unexpected charges. The platform does not charge a separate service fee, but network fees, which are payments to miners, still apply and are necessary for the transaction to be processed on the blockchain. This fee structure makes it easy for beginners to understand the total cost of each transaction without having to navigate complex fee schedules.

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.

Changenow

Security Methods: ChangeNOW employs robust security protocols, including non-custodial transactions that ensure users retain control over their private keys, enhancing overall security.
Customer Service: Despite some feedback about needing improvements, ChangeNOW is committed to enhancing its customer support services, with initiatives aimed at providing quicker and more effective responses.
Reputation and Reviews: The platform has received positive reviews for its user-friendly interface and quick swap features, establishing a solid reputation in the cryptocurrency community.
Trading Volume and Liquidity: With support for over 200 cryptocurrencies, ChangeNOW offers high liquidity, ensuring that transactions are executed swiftly and at competitive rates.
Transparency: ChangeNOW is transparent about its fees and processes, providing users with all necessary information upfront, which helps in building trust.

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Features	Bybit	Changenow
Minimum Trade	Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	ChangeNOW allows users to trade small amounts of cryptocurrencies, accommodating users who prefer to trade minimal quantities.
Trading and Transaction Fees	Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	While fees are competitive, they can vary and be higher for certain routes or less popular coins.
Number of Cryptocurrencies	Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Supports over 200 cryptocurrencies, providing a wide selection for trading.
Crypto-to-Crypto Trading Pairs	Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Offers a vast array of trading pairs, allowing direct swaps between a diverse range of cryptocurrencies.
Website Transparency	The website provides clear and detailed information about trading conditions, fees, and security measures.	Generally transparent about fees and trading processes, but could improve accessibility of detailed information on the backend processes.
Credit/Debit Card	Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.	Does not provide its own exchange card for in-store purchases or benefits.
Storage Offering	Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.	Provides a secure, non-custodial service that doesn’t store user funds but could enhance security features or options.
Staking and Rewards	Offers basic staking features but is not as competitive as other platforms that provide higher yields and more variety in staking options.	Limited options for staking and rewards compared to other platforms that offer comprehensive staking services.
Mobile App and Desktop	Both the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.	Both mobile and desktop interfaces are user-friendly, facilitating easy and efficient trading on any device.
Customer Service	Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer service is available but has room for improvement in terms of response times and support quality.
Deposit and Withdraw	Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Facilitates easy and fast deposits and withdrawals but could expand the variety of accepted payment methods.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

No significant tools, mainly a swap service

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Instant crypto swaps, NOW token rewards, fiat on/off ramps, ChangeNOW API

Anonymity

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.

ChangeNOW offers a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute 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 good value for money with competitive fees and a straightforward swapping service, making it an easy option for quick trades.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

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

Ideal for traders looking for a straightforward and quick cryptocurrency swapping service with competitive fees.

Base currencies available

USD, USDT, BTC

BTC, ETH, USDT (varies by transaction)

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.

ChangeNOW is a non-custodial exchange known for its fast and anonymous transactions. It offers a wide range of cryptocurrencies but lacks advanced trading features and tools.

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.

ChangeNOW is a non-custodial exchange known for its fast transactions. It supports various deposit methods, and withdrawals are processed quickly 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.

ChangeNOW provides a simple and quick account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually takes less than a day to complete.

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.

ChangeNOW offers support through email and live chat. The response time is quick, but the support team is not available 24/7, which may be a drawback for some users.

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.

ChangeNOW provides strong security with 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 a cryptocurrency analyst at our website, I’ve spent considerable time exploring and using various exchanges, and ChangeNOW stands out for its remarkable simplicity and efficiency. From my personal experience, this platform is especially well-suited for those who are new to the cryptocurrency world or those who prefer straightforward, quick crypto exchanges without the hassle of lengthy registrations. ChangeNOW’s focus on user privacy and security, without requiring personal information, provides peace of mind, making it a top recommendation for users valuing anonymity alongside ease of use. Whether you’re looking to swap small amounts or engage in more significant trades, ChangeNOW facilitates it all with commendable ease and speed.

Read bybit review

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Read changenow review

View all comparisons against Changenow

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.