Comparison of Bybit vs Coinjar [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Coinjar

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

Fees

≤0,10%

Earns

Yes

Customer service

4/5

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.8 – Reasonable fees with additional costs for premium services.

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.

CoinJar implements a competitive fee structure tailored to accommodate both novice and experienced traders. For trading, the fees vary depending on whether you use the instant buy/sell feature or the CoinJar Exchange. Instant buy/sell transactions come with a straightforward 1% fee, which is slightly higher but offers convenience for quick trades. On the other hand, CoinJar Exchange offers a tiered fee structure starting from 0.1% for makers and 0.2% for takers, decreasing with higher trading volumes. This tiered approach incentivizes active traders with lower fees, making it a more cost-effective option for frequent trading.

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.

Coinjar

Year Founded: CoinJar was established in 2013, making it one of the earliest players in the cryptocurrency exchange space, which speaks to its longevity and experience in the industry.
Reputation and Reviews: CoinJar is known for its user-friendly interface and reliable customer support. It has garnered positive reviews from users worldwide, contributing to its reputation as a trustworthy platform.
Security Methods: CoinJar employs robust security measures including two-factor authentication, multi-signature wallets, and encrypted personal data to ensure the safety of its users' assets.
Customer Service: The platform is lauded for its responsive customer service, offering quick and helpful support through multiple channels including email, phone, and live chat, ensuring users receive the assistance they need.
Volume Managed: CoinJar has processed over $1.5 billion in transactions, demonstrating its capability to handle large volumes and providing liquidity which is essential for a reliable trading experience.

Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Features	Bybit	Coinjar
Minimum Trade	Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	CoinJar allows users to trade with small minimums, making it accessible for beginners to start with lower risk.
Trading and Transaction Fees	Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	The fees are slightly higher than some competitors, which could be a disadvantage for frequent traders.
Number of Cryptocurrencies	Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	CoinJar offers a solid range of cryptocurrencies, providing good options for users looking to diversify their portfolios.
Crypto-to-Crypto Trading Pairs	Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	It supports various trading pairs, allowing users to trade directly between cryptos without converting to fiat first.
Website Transparency	The website provides clear and detailed information about trading conditions, fees, and security measures.	The website is clear and informative, providing all necessary information about fees, services, and trading options without hidden details.
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.	nJar offers a prepaid Mastercard that allows users to spend their cryptocurrency in-store and online wherever Mastercard is accepted. The card supports over 50 cryptocurrencies and integrates with Apple Pay and Google Pay.
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 excellent digital wallet services with robust security measures, ensuring the safety of user assets.
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.	Offers some options for staking and rewards but may not be as competitive or extensive as other platforms.
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 the mobile app and desktop platform are user-friendly and well-designed, offering a seamless trading experience.
Customer Service	Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Generally receives good reviews for customer service, though response times can vary during peak times.
Deposit and Withdraw	Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	CoinJar supports multiple methods for deposit and withdrawal, including bank transfers and digital wallets, though fees may apply.

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 4,6/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

CoinJar Card, recurring buys, CoinJar Bundles, CoinJar Exchange

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

30+

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.

CoinJar features a simple and user-friendly interface that is suitable for beginners. The platform focuses on making cryptocurrency trading accessible and easy to understand.

Value for money

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

Provides reasonable value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and Australian users.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Australia, United Kingdom, Europe

Best for

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

Ideal for Australian and UK investors looking for a user-friendly platform with competitive fees and strong customer support.

Base currencies available

USD, USDT, BTC

AUD, GBP, 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.

CoinJar is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a decent range of cryptocurrencies but lacks advanced trading 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.

CoinJar provides multiple deposit options, including bank transfers, credit/debit cards, and cryptocurrencies. Withdrawals are processed quickly, with competitive 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.

CoinJar provides a simple and efficient account registration process. Users need to fill out personal details and verify their identity. The process is fully digital and typically 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.

CoinJar provides support through email and live chat. The support team is responsive and available 24/7, ensuring users get timely 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.

CoinJar employs comprehensive security measures, including 2FA and cold storage. It is regulated by Australian authorities, ensuring high security 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 one of the experts here at our site, I’ve had a lot of experience with various crypto exchanges, and I can confidently say that CoinJar stands out, especially for those who are just starting their journey into cryptocurrencies. Its user-friendly interface makes it incredibly easy to navigate and manage your digital assets. Whether you’re looking to buy your first Bitcoin or diversify into other cryptocurrencies, CoinJar provides a seamless experience with robust security measures to protect your investments. I highly recommend giving CoinJar a try if you value a straightforward and secure platform for engaging with the crypto market.

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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.