Comparison of Bybit vs Pdax [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Pdax

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,40%/0,50%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.9 – Competitive fees with strong local support in the Philippines.

Level

≤0,10%

0,40%/0,50%

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.

PDAX implements a straightforward fee structure which focuses primarily on trading fees and some transactional costs. Trading fees on PDAX range between 0.40% and 0.50%, depending on the specific market order type—whether it’s a maker or taker order. This fee is slightly above the global average for cryptocurrency exchanges but is justified within the context of a regulated exchange operating under the auspices of the Bangko Sentral ng Pilipinas (BSP). Additionally, while crypto deposits are free, PDAX charges variable fees for fiat deposits and withdrawals which are dependent on the chosen payment method, enhancing flexibility for users. This structure ensures that while users enjoy a secure trading environment, they are also aware of the costs associated upfront.

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.

Pdax

Regulatory Compliance: PDAX is licensed and supervised by the Bangko Sentral ng Pilipinas (BSP), ensuring that it adheres to strict financial regulations and provides a secure trading environment for its users.
Security Measures: PDAX prioritizes user security with robust protection mechanisms, including multi-factor authentication and cold storage for the majority of user funds, ensuring safety against potential cyber threats.
Customer Service: PDAX offers comprehensive customer support with multiple channels, including a detailed FAQ section, email support, and social media engagement, ensuring users receive timely assistance and guidance.
Trading Volume and Liquidity: As one of the leading exchanges in the Philippines, PDAX maintains a healthy trading volume and liquidity, which facilitates efficient trading and provides users with better price discovery and trade execution.
Transparency: PDAX operates with high transparency, regularly updating users about changes in service, fee structures, and other essential operational aspects, fostering trust through clear communication.

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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

Philippine Digital Asset Exchange

Regulation

Not regulated

Regulated in Filipinas

Year founded

2018

Founder

Ben Zhou

Nichel Gaba

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bybit	FEATURES	Pdax
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	PDAX allows users to start trading with as little as PHP 50 per single trade, making it accessible for beginners and those with limited capital.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	The trading fees range between 0.40% to 0.50%, which is moderately competitive within the region but higher compared to global averages.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Supports over 37 cryptocurrencies, which is decent for a regional exchange but less compared to larger international platforms.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	PDAX primarily focuses on PHP-to-crypto pairs, limiting options for those looking to trade directly between cryptocurrencies.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	The website provides clear information about trading fees, minimum trade amounts, and other essential policies, although some users may find certain operational details lacking.
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	This lack of a dedicated card offering means that PDAX users cannot directly utilize their crypto holdings for everyday transactions outside the platform.
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	Provides secure wallet services regulated under Philippine law, ensuring safety for digital assets, though it lacks some of the advanced features found in dedicated crypto wallets.
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, PDAX does not offer staking services or rewards, which is a significant drawback for users looking to earn through these mechanisms.
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 mobile app is user-friendly and provides a robust trading experience on the go, although the desktop version could be enhanced with additional trading tools.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Offers multiple channels for support including email and social media, but there are reports of delays and the lack of immediate response options like phone support or live chat.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	PDAX supports various local payment methods, which is convenient for Filipino users. International users, however, might find options limited.

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

Staking, fiat on/off ramps, PDAX Prime, institutional services

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

20+

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.

PDAX features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

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

Delivers good value for money with competitive fees and strong local support in the Philippines, making it a good choice for regional users.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Philippines

Best for

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

Best for Filipino investors seeking a reliable platform with competitive fees and strong local support.

Base currencies available

USD, USDT, BTC

PHP, 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.

PDAX is a popular exchange in the Philippines, offering easy fiat integration and a user-friendly platform. 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.

PDAX is popular in the Philippines, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, 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.

PDAX provides an easy and quick account registration process. Users need to provide 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.

PDAX provides customer support via email and live chat. The support team is responsive and helpful, 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.

PDAX 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 one of the experts reviewing cryptocurrency exchanges on our website, I’ve taken a close look at PDAX. It stands out as a commendable choice for Filipino investors looking to enter the crypto space. The exchange offers a secure, regulated platform where you can trade directly with the Philippine Peso, making it exceptionally convenient. With a user-friendly interface and the support of local bank transfers, PDAX simplifies the process of buying and selling digital assets. Whether you’re new to cryptocurrencies or seeking a reliable home-market platform, PDAX provides a solid foundation to manage your digital investments.

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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.