Comparison of Bybit vs Gatehub [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Gatehub

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,30%

Fees

Earns

3/5

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 – Reasonable fees with strong focus on simplicity and security.

Level

≤0,10%

0,30%

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.

GateHub charges a flat trading fee of 0.3% on all completed buy and sell orders, which is slightly above the industry average. The platform does not differentiate between maker and taker fees, applying the same rate to both. Additionally, there are no fees for dormant accounts or for creating a new wallet. Withdrawal fees, however, are relatively high, with a fixed fee of 0.005 BTC for Bitcoin withdrawals. Deposit fees vary depending on the method used, with no fees for cryptocurrency deposits but potential costs for fiat deposits, depending on the method .

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.

Gatehub

Security Methods: GateHub employs several advanced security measures to protect user assets. These include AES encryption to safeguard personal and financial data, two-factor authentication (2FA) for additional account protection, and state-of-the-art anomaly detection systems to identify and prevent malicious activities. Additionally, GateHub offers anti-phishing features to further enhance account security.
Insurance: GateHub provides insurance via the Coincover platform, allowing users to insure their cryptocurrency holdings up to $100,000. This insurance offers a significant safety net for users, protecting their investments against potential breaches and ensuring peace of mind.
Number of Users: GateHub boasts a substantial user base, with over 1.5 million users as of July 2023. This large number of users indicates a level of trust and satisfaction within the crypto community, suggesting that GateHub is a reliable platform for trading and storing digital assets.
Regulation and Compliance: GateHub is governed by English law and adheres to strict Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures. This regulatory compliance ensures that the platform operates within legal frameworks, adding a layer of legitimacy and trust for users.
Transparency: GateHub is transparent about its operations, including its security measures and insurance options. This openness helps build trust with users by providing clear information on how their assets are protected and what measures are in place to secure their investments.

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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

GateHub Limited

Regulation

Not regulated

Regulated in the Reino Unido

Year founded

2018

2014

Founder

Ben Zhou

Enej Pungerčar

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bybit	FEATURES	Gatehub
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Minimum trade size is $10, making it accessible for small investors .
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Flat trading fee of 0.3%, slightly above the industry average. High withdrawal fees for BTC at 0.005 BTC .
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Supports 8 major cryptocurrencies including BTC, ETH, and XRP .
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Offers trading pairs primarily with XRP, USD, and EUR, but lacks diversity compared to top exchanges .
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	Transparent about fees and services, detailed fee page available .
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	Users can deposit funds using credit and debit cards, although fees apply.
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	Supports secure storage with 70% of assets in cold storage, AES encryption, and 2FA .
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	Limited staking options and reward programs compared to competitors .
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	User-friendly interface on mobile and desktop, but mobile app development still in progress .
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Offers live chat and email support, but response times can be slow .
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Multiple methods for deposit and withdrawal, but high withdrawal fees and no credit card support .

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

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Wallet services, fiat on/off ramps, staking, Gatehub trading platform

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

10+ (focus on XRP and similar assets)

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.

Gatehub provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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 competitive fees and strong security features, though it may lack some advanced trading features.

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.

Ideal for traders seeking a secure platform with competitive fees and a focus on simplicity.

Base currencies available

USD, USDT, BTC

USD, EUR, 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.

GateHub provides a secure and user-friendly platform with easy fiat integration. It supports a decent range of cryptocurrencies but has higher fees.

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.

GateHub provides multiple deposit options, including bank transfers 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.

GateHub offers a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient 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.

GateHub offers support via 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.

GateHub offers strong security with 2FA and encryption. Despite its robust 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 an expert in the cryptocurrency market, I recommend GateHub primarily for its user-friendly interface and robust security features. The platform is particularly suitable for beginners due to its straightforward design and real-time portfolio analytics. GateHub’s strong focus on Ripple (XRP) and its integration with fiat currencies make it a versatile choice for those looking to manage both crypto and traditional assets. However, potential users should be mindful of the high withdrawal fees and the limited selection of cryptocurrencies. Overall, GateHub is a reliable platform for those who prioritize security and ease of use in their crypto 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.