Comparison of Bybit vs Coindcx [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Coindcx

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

≤0,10%

Fees

Yes

Earns

4/5

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.

4.1 – Low fees with additional discounts for high-volume traders.

Level

≤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.

Coindcx employs a competitive and transparent fee structure which includes trading fees that are among the lowest in the Indian market. This makes it an attractive option for both high-volume traders and beginners. The platform charges a maker-taker fee model, which encourages liquidity on the exchange while ensuring traders can execute trades at or near their desired prices without substantial cost. Additionally, Coindcx offers tiered pricing, reducing trading fees for users as their trading volume increases, making it financially feasible for users to scale up their trading activities efficiently.

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

Coindcx

Regulatory Compliance: Coindcx operates with full legal compliance under India’s stringent financial regulations, providing users with a secure trading environment.
Customer Service: The exchange offers robust customer support with a comprehensive FAQ section, 24/7 customer service via chat and email, and quick response times, ensuring that user queries are promptly addressed.
Security Measures: The platform utilizes advanced security protocols, including two-factor authentication (2FA) and encrypted data storage, ensuring that user funds and information are protected against unauthorized access.
Trading Volume and Liquidity: Coindcx boasts significant trading volume and liquidity, which facilitates efficient trading with minimal slippage, making it an ideal platform for both novice and experienced traders.
Reputation and Reviews: Coindcx has a strong reputation in the cryptocurrency community, recognized for its reliable service and customer satisfaction, as evidenced by numerous positive reviews and testimonials.

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Account Minimum

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Primestack Pte. Ltd.

Regulation

Not regulated

Year founded

2018

Founder

Ben Zhou

Sumit Gupta and Neeraj Khandelwal

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bybit	FEATURES	Coindcx
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Coindcx allows trading with 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	Coindcx offers competitive fees, which are lower than many other exchanges.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Offers over 200 cryptocurrencies, providing a wide range for trading.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	A vast selection of trading pairs is available, enhancing trading flexibility.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	The website provides clear information on fees, policies, and trading options.
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	None of the reviewed exchanges provide an exchange card for in-store purchases and 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 advanced security measures.
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 on certain cryptocurrencies with competitive rewards.
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 user-friendly and well-designed, suitable for traders on-the-go.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Responsive and helpful customer support with multiple channels like chat and email.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Offers multiple methods for deposit and withdrawal, including bank transfer and UPI.

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

Margin trading, staking, CoinDCX Earn, CoinDCX Academy

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.

CoinDCX provides a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth 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.

Delivers good value for money with low trading fees and a wide range of supported cryptocurrencies, making it a cost-effective choice for Indian users.

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.

Best for Indian traders looking for a cost-effective platform with a wide range of cryptocurrencies and 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.

CoinDCX is an Indian exchange with a wide range of cryptocurrencies and easy fiat integration. It offers competitive fees and advanced trading features, making it suitable for both beginners and experienced 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.

CoinDCX offers easy fiat and cryptocurrency deposit methods. Withdrawals are processed quickly, typically within a day. 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.

CoinDCX provides an easy account registration process. Users need to submit personal details, verify their identity, and address. The process is efficient 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.

CoinDCX provides support through email, live chat, and a help center. The support team is responsive and available 24/7, making it convenient for users in India and beyond.

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.

CoinDCX ensures security with 2FA, encryption, and cold storage. It is regulated by Indian authorities, providing a secure environment for 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 various platforms, I find Coindcx to stand out particularly for its user-centric approach. The exchange not only offers a comprehensive range of over 200 cryptocurrencies but also ensures that both novices and seasoned traders can navigate and utilize the platform with ease. Its emphasis on security, backed by stringent compliance with Indian financial regulations, instills a high level of trust and reliability, making it a preferred choice for many looking to trade cryptocurrencies. Whether you’re starting your crypto journey or looking to diversify your trading strategies, Coindcx provides a robust environment with the tools and support needed to succeed in the dynamic world of cryptocurrency.

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View all comparisons against Coindcx

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.