Comparison of Bybit vs Pionex [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Your expert: Xavier Tarrasó

Pionex

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0.05%

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 – Competitive fees with additional benefits for automated trading.

Level

≤0,10%

0.05%

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.

Pionex’s trading fee structure is notably competitive, designed to cater to both frequent and casual traders. The platform charges a flat trading fee of 0.05% per transaction, which applies to both makers and takers. This fee rate is among the lowest in the cryptocurrency exchange industry, making Pionex an attractive option for traders looking to minimize costs while maximizing returns. Additionally, the integration of trading bots at no extra cost enhances the value, as these bots can execute trades automatically based on predefined strategies, further optimizing trading expenses for users.

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.

Pionex

Regulation: Pionex is registered with FinCEN as a Money Services Business (MSB), which means it complies with several regulatory standards aimed at preventing money laundering and financial fraud. This registration enhances user trust as the platform adheres to stringent financial regulations.
Security methods: Pionex prioritizes security with several layers of protection, including bank-level security systems and encrypted algorithms to safeguard user data and assets. The platform also employs two-factor authentication (2FA) for additional security during login and withdrawal processes.
Customer service: Pionex offers a comprehensive customer support system, including a detailed FAQ, a responsive email support team, and a community on various social media platforms where users can seek help and share their experiences.
Trading volume and liquidity: Thanks to its liquidity aggregation that combines liquidity from Binance and Huobi Global, Pionex provides high trading volume and liquidity, ensuring that trade orders are executed swiftly and at competitive prices.
Reputation and Reviews: Pionex has garnered positive reviews from users primarily due to its user-friendly interface and the unique offering of built-in trading bots. The community feedback on the effective functioning of these bots and the overall reliability of the platform is generally favorable, reinforcing its reputation in the crypto community.

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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

Pionex Inc.

Regulation

Not regulated

Year founded

2018

2019

Founder

Ben Zhou

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bybit	FEATURES	Pionex
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Pionex allows for low minimum trade amounts, making it accessible for beginners wanting to start small.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Offers highly competitive fees, particularly attractive because of the zero-fee trading with bots, which is a standout feature.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	Supports a wide range of cryptocurrencies, providing users with a diverse selection of trading options.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Extensive range of trading pairs, allowing users flexibility in their trading strategies.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	While Pionex offers good information on its operations, more clarity on regulatory compliance and security measures could improve 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	PointPay does not currently offer a card for customers to use in their daily transactions or at shops.
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 storage options, but enhanced details about its cold storage capabilities would be beneficial.
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	Offers competitive staking rewards, particularly through its bot-driven strategies, though it could expand its rewards program.
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 platforms are highly user-friendly and well-designed, offering full functionality.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Responsive customer service with multiple channels, but could improve by adding real-time support like live chat.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Integrated bots for automated trading

Mobile APP

Yes

Security

High 4,9/5

High 4,6/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Automated trading bots, margin trading, staking, Pionex Earn

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

120+ (with trading bots)

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.

Pionex 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 good value for money with low trading fees and automated trading bots, making it an attractive option for new and experienced traders.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Singapore, United States, Canada, Australia, United Kingdom

Best for

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

Ideal for traders interested in automated trading bots and low trading fees.

Base currencies available

USD, USDT, BTC

USDT, 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.

Pionex is known for its automated trading bots, offering a unique feature for users. It has a good range of cryptocurrencies and competitive fees but can be complex for beginners.

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.

Pionex offers multiple deposit and withdrawal methods, 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.

Pionex provides 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.

Pionex 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.

Pionex 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 a seasoned user and reviewer of cryptocurrency exchanges, I find Pionex to be an intriguing option, particularly for those who are fascinated by automated trading. The built-in trading bots, which offer diverse strategies and the ability to operate 24/7, make Pionex a standout choice for traders who aim to maximize their trading efficiency without constant personal monitoring. This feature alone simplifies the trading process significantly and can be a game-changer for both new and experienced traders. However, it’s important to approach with a degree of caution and ensure understanding of how these bots operate to truly benefit from what Pionex has to offer.

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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.