Comparison of Bybit vs Flipster [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Flipster

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

Fees

Earns

2/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.8 – Competitive fees with additional benefits for high-volume trading.

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.

Flipster operates on a competitive fee structure, making it an attractive choice for traders. The platform charges 0% trading fees for both makers and takers, which is notably lower than the industry average. This fee model allows users to maximize their trading profits without worrying about high transaction costs. Additionally, the platform offers no deposit fees, further reducing the cost of trading. Withdrawal fees are transparent and depend on the specific cryptocurrency being withdrawn, aligning with standard practices in the industry. For users interested in leveraged trading, Flipster’s fees remain competitive. The cost-effectiveness of trading on Flipster, combined with its extensive range of over 200 cryptocurrencies, positions it favorably against many other exchanges. This transparency in fee structure, coupled with the absence of hidden charges, ensures that traders can plan their strategies without unexpected costs, making Flipster a highly economical choice for both novice and experienced traders.

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.

Flipster

Year Founded: Established in 2021, Flipster has rapidly grown and demonstrated its commitment to innovation and user experience in the cryptocurrency market.
Customer Service: Flipster provides 24/7 customer support through live chat and email, ensuring users can get assistance whenever they need it, enhancing overall user satisfaction.
Security Methods: Flipster employs advanced security protocols, including two-factor authentication (2FA), cold storage for the majority of user funds, and regular security audits, ensuring a high level of protection for user assets.
Reputation and Reviews: Early user feedback has been largely positive, highlighting the platform’s ease of use, comprehensive trading tools, and responsive customer support.
Volume Managed: The platform handles significant trading volumes, indicating a high level of activity and trust among its user base.

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Account Minimum

Get started with just $100.

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Direct link to the website

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	Flipster
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	The minimum trade amount on Flipster is user-friendly, allowing beginners to start trading with a small initial investment.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Flipster charges moderate fees, which are competitive but not the lowest in the market.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Flipster offers a wide range of cryptocurrencies, providing users with ample choices for diversification.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	The platform supports several crypto-to-crypto pairs, though the selection is not as extensive as some competitors.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	Flipster maintains a transparent website with clear information on fees, terms, and supported assets.
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	Credit and debit card support is available, but with higher fees compared to bank transfers.
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	Flipster provides secure storage options with robust security measures for users’ assets.
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	Staking options are available, offering moderate rewards for users who participate.
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	The platform offers both a mobile app and desktop version, both of which are well-designed and user-friendly.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Customer service is responsive and available through multiple channels, though some users report occasional delays.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Deposits and withdrawals are straightforward, but fees can be higher than some other platforms.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Unknown

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Margin trading, futures trading, staking, Flipster Earn program

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

Information not readily available

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.

Flipster offers 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.

Provides decent value for money with competitive fees and a user-friendly interface, though it may not have the lowest fees compared to some competitors.

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.

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, USDT, BTC

Not widely known

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.

Flipster provides a secure platform with a decent range of cryptocurrencies. It has competitive fees but lower liquidity compared to larger exchanges.

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.

Flipster offers standard deposit and withdrawal methods like bank transfers and crypto deposits. 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.

Flipster offers an easy and quick account opening process. Users need to provide personal information 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.

Flipster offers customer support via 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.

Flipster employs robust security features, including 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 an expert at Threenvest, I highly recommend Flipster for its user-friendly interface and comprehensive trading options. Whether you’re new to crypto trading or an experienced trader, Flipster offers a wide range of over 200 cryptocurrencies and leverage up to 50x, making it an ideal platform to explore and maximize trading opportunities. The innovative Flipster Earn Pool is a unique feature that allows you to earn passive income on your idle funds. With robust security measures and 24/7 customer support, Flipster ensures a reliable and secure trading experience.

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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.