Comparison of Bybit vs Coinw [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Coinw

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0.20%

Fees

Yes

Earns

3/5

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.

4.0 – Reasonable fees with additional benefits for high-volume trading.

Level

≤0,10%

0.20%

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.

CoinW maintains a competitive and transparent fee structure tailored to benefit both casual and active traders. The exchange charges a base rate of 0.2% for both makers and takers, which can decrease significantly with increased trading volume thanks to their tiered fee system. This system not only incentivizes frequent trading but also rewards high-volume traders with even lower rates, making it an attractive option for those looking to execute large transactions. Additionally, CoinW does not charge different fees between takers and makers, simplifying the cost calculations for traders and providing a clear, straightforward trading cost framework.

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

Coinw

Security Methods: CoinW implements advanced security protocols including bank-level risk control systems and real-time reconciliation processes. This ensures that users' assets are protected against unauthorized access and potential cyber threats.
Regulation Compliance: CoinW operates with a compliance-first approach, adhering to international financial regulations. This commitment to regulatory standards enhances its trustworthiness and ensures a secure trading environment for its users.
Trading Volume and Liquidity: CoinW manages a significant trading volume, providing high liquidity which is essential for executing trades quickly and at desired prices. This high liquidity also reflects the trust and activity level of its large user base.
Customer Service: Despite some limitations in direct support channels like phone service, CoinW provides 24/7 customer support through its online channels, ensuring that user queries and issues are addressed promptly and effectively.
Reputation and Reviews: CoinW has earned positive acclaim within the industry, being recognized as the best rising star by Crypto Expo and the best exchange in Asia by Crypto 306. These accolades underscore its credibility and reliability in the competitive crypto exchange market.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Unknown

Regulation

Not regulated

Year founded

2018

Unknown

Founder

Ben Zhou

Unknown

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Bybit	FEATURES	Coinw
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	CoinW offers low minimum trade thresholds, making it accessible for beginners and those with smaller budgets to engage in trading.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	CoinW maintains competitive trading fees, starting at 0.2% for both makers and takers, which decrease with higher trading volumes.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	With over 1,000 cryptocurrencies available, CoinW provides a vast array of trading options, catering to diverse investor interests.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	The platform supports numerous crypto-to-crypto trading pairs, offering significant flexibility and opportunities for arbitrage.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	CoinW provides clear information on its fees and policies, although improvements can be made in disclosing full details on security practices and fund storage.
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	CoinW lacks an exchange card for in-store purchases.
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	CoinW uses cold storage for the majority of its funds, enhancing security but details on the extent and management of these storages could be more transparent.
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	The exchange offers staking and rewards programs, but more detailed information and wider variety of options could improve user engagement.
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 the mobile app and desktop platform of CoinW are user-friendly and reliable, though occasional updates and feature enhancements would provide a smoother experience.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	While available 24/7 via chat, the lack of phone support and sometimes delayed responses are areas needing improvement.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	CoinW offers multiple deposit and withdrawal methods, but the addition of fiat currency options could significantly enhance user convenience.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Margin trading, futures trading, staking, CoinW Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

100+

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.

CoinW 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 decent value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

United States, Canada, United Kingdom, Australia, Singapore

Best for

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

Suitable for beginners and experienced traders seeking a user-friendly platform with competitive fees.

Base currencies available

USD, USDT, BTC

CNY, 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.

CoinW provides a secure and user-friendly platform with a good selection of cryptocurrencies. It offers competitive fees but lacks some 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.

CoinW supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, 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.

CoinW offers an easy and quick account opening process. Users need to provide personal information and verify their identity. 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.

CoinW offers customer support through email and live chat. The support team is responsive, but the lack of 24/7 support may 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.

CoinW employs comprehensive security measures, including 2FA 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?

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 closely following the cryptocurrency exchange landscape, I’d like to share my insights on CoinW. This platform stands out primarily for its extensive selection of cryptocurrencies, accommodating over 1,000 different types, which makes it an attractive choice for traders looking to explore a variety of crypto assets. CoinW’s security measures are stringent, providing users with peace of mind when trading. Furthermore, their customer service is accessible 24/7 through chat, ensuring that assistance is always just a message away, although expanding support options could enhance user experience. In summary, if you’re seeking a platform with a wide array of trading options and solid security, CoinW is certainly worth considering.

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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.