When it comes to choosing a crypto exchange, the decision can be challenging due to the wide range of options available. Two of the most popular trading platforms for crypto traders today are Bybit and Bitget. Both offer a variety of features, low fees, and a seamless trading experience, but they have differences that could make one a better choice for your specific needs.
In this post, we’ll take an in-depth look at Bybit vs Bitget, comparing their key features, fees, user experience, and security to help you make the right decision. But if you are in a hurry the table below provides a quick side-by-side comparison to help you choose the best platform for your needs.
| Feature | Bybit | Bitget |
|---|---|---|
| Year Founded | 2018 | 2018 |
| Leverage | Up to 100x | Up to 100x |
| Copy Trading | No | Yes |
| Supported Cryptos | Major cryptocurrencies like BTC, ETH | Wide variety, including altcoins |
| Trading Fees | 0.1% for spot, 0.075% for takers | 0.1% for spot, 0.06% for takers |
| Mobile App | Sleek, user-friendly, well-rated | Functional but less polished |
| Security | Cold storage, 2FA, no major breaches | Cold storage, 2FA, no major breaches |
| Customer Support | 24/7 live chat, fast response | 24/7 live chat, slightly slower |
| Unique Feature | Advanced derivatives trading tools | Copy trading for beginners |
Overview of Bybit and Bitget
Bybit
It was founded in 2018. Bybit is known for being one of the fastest-growing crypto derivatives platforms in the world. Bybit focuses primarily on leveraged trading, offering users the ability to trade Bitcoin and other cryptocurrencies with leverage up to 100x. The platform is highly favored for its user-friendly interface, liquidity, and low trading fees.
Bitget
Founded in 2018, Bitget is another rising star in the cryptocurrency exchange space. While Bitget also offers leveraged trading, it is particularly known for its copy trading feature, which allows users to follow professional traders and copy their trades automatically. Bitget has expanded its offerings in recent years and now supports a wide range of cryptocurrencies for spot and derivatives trading.
Bybit vs Bitget: Key Comparisons
1. Trading Features
- Bybit: Known for its derivatives trading, Bybit offers various trading products such as perpetual contracts, inverse perpetual contracts, and futures contracts. Bybit supports up to 100x leverage on certain trading pairs, making it attractive for those who are comfortable with high-risk, high-reward trades.
- Bitget: Bitget also specializes in derivatives trading and offers leverage up to 100x. However, the standout feature of Bitget is its copy trading service. This feature makes it easier for beginners to participate in the crypto market by mimicking the trades of successful traders.
Winner: Bitget edges out Bybit here due to its unique copy-trading feature, which can be valuable for newcomers.
2. Supported Cryptocurrencies
- Bybit: Bybit supports a range of cryptocurrencies, but its primary focus is on major assets like Bitcoin (BTC), Ethereum (ETH), and a few other large-cap coins. The exchange supports both spot and derivatives trading, though its offerings are somewhat limited in terms of the number of altcoins available for spot trading.
- Bitget: Bitget offers a wider selection of cryptocurrencies for spot trading, including many smaller altcoins. If you’re someone who likes to trade lesser-known coins or experiment with various assets, Bitget provides more variety.
Winner: Bitget offers a broader range of supported cryptocurrencies, making it a better choice for altcoin enthusiasts.
3. User Interface and Experience
- Bybit: Bybit is widely praised for its intuitive and sleek user interface. The platform is easy to navigate, even for beginners, and offers advanced charting tools for experienced traders. Its mobile app is equally well-designed and offers a seamless trading experience on the go.
- Bitget: Bitget’s interface is also easy to use but not as polished as Bybit’s. While Bitget offers essential features and tools, users sometimes report that the platform can feel slightly cluttered, especially when compared to Bybit’s streamlined layout.
Winner: Bybit takes the lead here, thanks to its smoother and more intuitive interface.
4. Fees
- Bybit: Bybit offers competitive fees. The trading fee is 0.1% for spot trading, while the derivatives fee follows the maker-taker model, with a 0.025% rebate for makers and 0.075% for takers.
- Bitget: Bitget’s trading fees are similar to Bybit’s, with a 0.1% fee for spot trading a 0.04% maker fee, and a 0.06% taker fee for derivatives trading. Additionally, Bitget offers discounts for holding its native token, BGB.
Winner: Bitget slightly edges out Bybit due to its lower derivatives fees and the discount for holding BGB tokens.
5. Security
- Bybit: Bybit takes security seriously, employing cold wallet storage for user funds, two-factor authentication (2FA), and advanced encryption techniques to safeguard user accounts. The platform has not experienced any significant security breaches since its launch.
- Bitget: Bitget also implements robust security measures, including 2FA, cold wallet storage, and a risk management system to protect user assets. Bitget has maintained a solid security record, with no major hacks reported.
Winner: It’s a tie, as both exchanges provide top-notch security features to ensure the safety of user funds.
6. Customer Support
- Bybit: Bybit offers 24/7 customer support through live chat, email, and social media. The platform is known for being responsive and helpful in resolving issues quickly.
- Bitget: Bitget also provides 24/7 customer support via live chat and email. While the customer service is decent, some users have reported slower response times compared to Bybit.
Winner: Bybit wins this round for faster and more efficient customer support.
7. Mobile App Experience
- Bybit: The Bybit mobile app is highly rated for its performance and user-friendly design. It offers most of the features available on the desktop platform, including charting tools, trade execution, and account management.
- Bitget: Bitget’s mobile app is functional and offers a similar experience to the desktop version, but it’s not as polished as Bybit’s. Users have mentioned minor performance issues, particularly when executing large trades.
Winner: Bybit stands out with a superior mobile app experience.
Final Verdict
When comparing Bybit vs Bitget, it’s clear that both exchanges offer strong features for different types of traders. Here’s a quick summary to help you decide:
- Bybit is better suited for experienced traders who need a clean, intuitive interface, competitive fees, and a robust mobile experience. It’s also a great choice if you’re focused primarily on major cryptocurrencies and derivatives trading.
- Bitget shines in its copy trading feature, making it a great option for beginners or those looking to follow expert traders. It also has a wider selection of cryptocurrencies for spot trading and slightly lower derivatives fees, which could be appealing to some users.
Ultimately, the right platform for you depends on your specific trading style and needs. If you value ease of use and advanced trading tools, Bybit may be the better choice. But if you’re interested in copy trading and exploring a broader range of cryptocurrencies, Bitget could be the ideal option for you.
This article is for informational purposes only and does not constitute financial advice. Always do your own research before choosing a trading platform.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.