Comparison of Bybit vs Coinmama [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Coinmama

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

≤3,99%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.5 – Higher fees but a simple and straightforward buying process.

Level

≤0,10%

≤3,99%

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.

Coinmama’s fee structure is straightforward and transparent, primarily focusing on transaction fees for buying and selling cryptocurrencies. The platform charges a commission on each purchase, which varies depending on the payment method and the amount of cryptocurrency bought. Typically, fees range from around 3.90% to 5.90%, with lower fees for higher-value transactions. Credit and debit card transactions often incur the higher end of the fee spectrum due to processing costs associated with card payments. This structure ensures users are aware of the costs upfront, aiding in budget management for their investments.

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

Coinmama

Year Founded: Established in 2013, Coinmama has a long-standing history in the cryptocurrency market, indicating stability and experience.
Reputation and Reviews: Coinmama has maintained a positive reputation in the crypto community, supported by favorable user reviews praising its ease of use and reliable service.
Security Methods: Coinmama employs robust security measures, including SSL encryption and two-factor authentication, to protect user accounts and transactions.
Transparency: The exchange is transparent about its fees and processes, providing clear information without hidden charges, which builds user trust.
Customer Service: The platform is known for its responsive and helpful customer support, which enhances trust and reliability.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Cmama Ltd.

Regulation

Not regulated

Registrado como empresa de servicios monetarios en los EE. UU.

Year founded

2018

2013

Founder

Ben Zhou

Asaph Schulman

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bybit	FEATURES	Coinmama
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Coinmama allows users to buy small amounts of cryptocurrency, making it accessible for beginners or those looking to start with minimal investment.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	While reliable, Coinmama’s fees are relatively high compared to other exchanges, which can be a drawback for users making frequent transactions.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Coinmama supports popular cryptocurrencies but has a limited selection compared to larger platforms, impacting users seeking a wide range of crypto options.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Coinmama primarily focuses on direct crypto purchases with fiat and doesn’t offer extensive crypto-to-crypto trading pairs.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	The website provides clear information about its services and fees, though more detailed data on security practices 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	Coinmama 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	Coinmama does not offer its own wallet service, requiring users to have an external wallet to store purchased cryptocurrencies.
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	Currently, Coinmama does not offer staking or rewards programs, which is a significant disadvantage for users looking to earn through their holdings.
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	Coinmama offers a functional mobile app and a user-friendly desktop platform, though there are areas for improvement in app functionality and features.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Known for its excellent customer service, Coinmama provides timely and helpful support, significantly enhancing user experience.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Deposits are straightforward, but as Coinmama does not handle withdrawals of fiat currency (only crypto sales), this might limit convenience for some users.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

No trading tools, primarily a buying platform

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Instant crypto purchases, educational resources, Coinmama Loyalty Program

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

10+

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.

Coinmama offers a user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience with essential 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.

Offers reasonable value for money with higher fees but a simple and straightforward buying process, making it suitable for beginners.

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.

Best for beginners who want a simple and straightforward buying process, despite higher fees.

Base currencies available

USD, USDT, BTC

USD, EUR, GBP, AUD, CAD

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.

Coinmama is a straightforward platform focused on buying and selling major cryptocurrencies with fiat. It has higher fees compared to some exchanges and lacks advanced trading features.

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.

Coinmama focuses on buying and selling major cryptocurrencies with fiat. Withdrawals are processed quickly, typically within a day, but fees are higher compared to some exchanges.

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.

Coinmama provides an easy and quick account registration process. Users need to submit 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.

Coinmama provides customer support through email and live chat. The support team is responsive, but the lack of 24/7 support can be a limitation 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.

Coinmama ensures security through 2FA, encryption, and cold storage. Despite its strong security measures, the platform is not regulated by top-tier financial authorities, which could 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 one of the seasoned experts here at our website, I’d highly recommend Coinmama for anyone looking to get started with cryptocurrencies. Its intuitive interface makes it incredibly easy for newcomers to navigate the crypto buying process. Plus, the option to purchase directly with a credit card adds a level of convenience that’s hard to match. If you’re venturing into the world of crypto and want a straightforward, secure platform, Coinmama should definitely be on your radar.

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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.