The world of crypto buying and selling is booming, drawing in hundreds of thousands of traders and merchants globally. However for these simply beginning out, selecting the best buying and selling platform can really feel tough. With so many choices out there, it’s necessary to weigh all components like charges, safety, supported cash, options, and the way user-friendly the platform is.
On this information, we are going to examine two widespread cryptocurrency exchanges Bybit vs MEXC based mostly on key buying and selling options, charges, and total buying and selling expertise that can assist you resolve which platform fits your wants higher.
Bybit vs MEXC: Comparability Desk
| Function | Bybit | MEXC |
| Finest for | Derivatives Buying and selling | No-KYC Buying and selling |
| Based | 2018 | 2018 |
| Leverage | As much as 100x (Futures) | As much as 200x (Futures) |
| Choices Buying and selling | Sure (BTC & ETH) | – |
| Zero-Charge Buying and selling | No | Sure (0% Maker Charge for Futures) |
| KYC Requirement | Sure | No (No-KYC buying and selling out there) |
| Buying and selling Quantity | Increased buying and selling quantity, ranked 2nd globally | Decrease buying and selling quantity, ranked tenth globally |
| Liquidity | Sturdy liquidity | Barely decrease liquidity, particularly for low-cap cash |
| Supported Cryptos | 1,200+ cash | 2,772+ cash |
| Spot Buying and selling Charges | 0.1% maker/taker | 0.05% maker/taker |
| Futures Buying and selling Charges | 0.02% maker and 0.055% taker | 0% maker and 0.02% taker |
| Futures Buying and selling | Sure, with as much as 100x leverage | Sure, with as much as 200x leverage |
| Margin Buying and selling | Sure, 10x leverage | – |
| Copy Buying and selling | Sure | Sure |
| P2P Buying and selling | Sure, with 100+ cost strategies | Sure, with fewer cost choices |
| OTC Buying and selling | Sure, for giant trades | – |
| Crypto Loans | Sure | Sure |
| Staking | Sure, versatile and stuck choices | Sure, however much less selection |
| NFT Market | Sure, out there for buying and selling | – |
| Cell App | Clean expertise | Could be laggy throughout excessive buying and selling exercise |
| Safety Ranking (Certik) | 85.58 (A Ranking) | 81.82 (A Ranking) |
| Detailed Opinions | Bybit overview | MEXC overview |
Bybit vs MEXC: Options
Bybit Standout Options
- Derivatives Buying and selling: Bybit gives futures buying and selling with as much as 100x leverage. This lets you commerce massive positions with small funds, providing you with extra revenue alternatives. It helps perpetual futures contracts in USDT and USDC margined pairs for 100+ main cryptocurrencies, providing deep liquidity.
- Choices Buying and selling: Bybit additionally offers choices buying and selling for Bitcoin and Ethereum, a uncommon function for crypto exchanges. Choices allow you to hedge your trades or guess on worth actions, making it a useful gizmo for superior merchants. MEXC doesn’t help choices contracts.
- Copy Buying and selling: With copy buying and selling, you’ll be able to comply with and replicate the methods of skilled merchants. That is good for novices who wish to be taught or earn passively by trusting specialists.
- P2P Buying and selling: Bybit’s P2P platform helps over 100 native cost strategies, together with native financial institution transfers and digital e-wallets. You may commerce crypto immediately with others safely and at no additional charges.
- OTC Buying and selling: The Over-The-Counter (OTC) desk helps customers commerce massive quantities of crypto privately. This ensures there’s no affect on market costs, which is helpful for institutional or high-net-worth merchants.
- Crypto Loans: You may borrow crypto by providing your belongings as collateral. That is useful for getting funds without having to promote your holdings at low costs.
- Buying and selling Bots: Bybit gives bots for automated buying and selling based mostly on pre-set methods. These bots assist execute trades 24/7, saving you time and optimizing income.
- Staking: Bybit’s staking helps you to earn passive rewards by locking your crypto. Versatile and stuck staking choices let you select based mostly in your objectives. It additionally gives liquidity mining by means of its Bybit DeFi pockets.
- Bybit Card: The Bybit Card converts crypto to fiat, permitting you to spend at over 90 million retailers worldwide. It’s a debit card, making crypto sensible for on a regular basis use.
- NFT Market: Bybit’s NFT Market permits you to purchase and promote digital collectibles and artwork. It helps numerous NFT initiatives, making it straightforward to discover the rising NFT market.
MEXC Standout Options
- 200x Leverage Buying and selling: MEXC gives as much as 200x leverage on futures buying and selling, one of many highest amongst crypto exchanges. If we examine, Bybit gives 100x leverage, and Binance and Bitget additionally provide as much as 125x leverage.
- No-KYC Buying and selling: MEXC permits customers to commerce with out finishing a Know Your Buyer (KYC) course of. This makes it straightforward to start out buying and selling rapidly and ensures privateness for many who want to not share private particulars. Nonetheless, some options and withdrawal limits could require verification.
- Zero-Charge Futures Buying and selling (0% Maker): MEXC gives zero maker charges on its futures market. This reduces buying and selling prices considerably, particularly for high-frequency and algorithmic (API) merchants.
- Launchpad and Token Airdrops: MEXC’s Launchpad helps early-stage crypto initiatives, permitting customers to take a position earlier than they grow to be extensively out there. It additionally gives frequent token airdrops, giving customers free crypto for taking part in promotions or holding sure cash.
- Low-Cap and New Coin Help: MEXC is understood for itemizing low-cap and newly launched cryptocurrencies. This makes it a go-to platform for merchants searching for early alternatives in area of interest initiatives. Nonetheless, buying and selling lesser-known cash can carry larger dangers resulting from volatility and low liquidity.
Bybit vs MEXC: Charges
Buying and selling Charges
Bybit’s spot buying and selling charges are fairly aggressive, with each maker and taker charges set at 0.1%. MEXC additionally has a really low payment construction, charging solely 0.05% for each makers and takers.
MEXC often hosts zero-fee buying and selling occasions, making it a favourite for these searching for the bottom buying and selling prices. It’s recognized for providing a number of the most reasonably priced charges within the crypto business, whereas Bybit turns into less expensive for merchants dealing with excessive buying and selling volumes.
Relating to futures buying and selling, MEXC offers an edge with a 0% payment for makers and simply 0.020% for takers. Comparatively, Bybit expenses 0.02% for makers and 0.055% for takers.
This makes MEXC’s charges noticeably decrease for futures buying and selling. Each platforms present further advantages, together with payment reductions and rewards, for VIP customers based mostly on their buying and selling quantity and account exercise.
Along with customary charges, Bybit and MEXC even have distinctive expenses. Bybit contains funding charges for perpetual contracts, which depend upon market circumstances and your buying and selling place.
It additionally has liquidation charges for margin buying and selling, although these are solely utilized in particular conditions. MEXC equally expenses funding charges for futures contracts and offers reductions for high-frequency merchants.
Deposit and Withdrawal Charges
For deposit charges, each platforms are on par. Neither Bybit nor MEXC expenses charges for crypto deposits. Nonetheless, when you deposit fiat foreign money, you could incur charges relying on the cost methodology.
Bybit, for instance, could embrace third-party service charges for fiat transactions. Equally, MEXC follows the identical strategy, with the precise payment various by the cost supplier.
Withdrawal charges are one other necessary issue. Once more, MEXC usually has decrease withdrawal charges in comparison with Bybit. As an example, withdrawing Bitcoin from MEXC prices 0.00003 BTC, whereas the identical transaction on Bybit prices 0.00005 BTC. Whereas the distinction could appear small, it could add up for frequent merchants.
Each platforms show clear details about charges based mostly on the precise cryptocurrency you might be withdrawing, however MEXC’s barely decrease charges make it extra interesting for some customers.
Winner: MEXC gives decrease charges for each spot buying and selling and futures buying and selling (0.05% vs. 0.1%), together with extra reasonably priced withdrawal prices for crypto community transactions.
Bybit vs MEXC: Supported Cryptocurrencies
Bybit gives over 1,200 cash and greater than 1,600 buying and selling pairs, specializing in widespread crypto belongings alongside rising tokens. This makes it appropriate for merchants searching for a mixture of main and mid-tier cryptocurrencies.
Then again, MEXC leads with help for greater than 2,772 cash and over 3,101 buying and selling pairs. This makes it one of many platforms with the very best coin availability within the business.
MEXC additionally often lists new and trending tokens sooner than many opponents. That is finest for merchants focused on area of interest or newly launched initiatives. Each platforms help main cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), however MEXC offers higher entry to lesser-known tokens and experimental initiatives. This makes it a beautiful choice for altcoin traders.
Winner: MEXC gives extra digital belongings for merchants with over 2,772 cash and three,101 pairs, in comparison with Bybit’s 1,200 cash and 1,600 pairs.
Bybit vs MEXC: Safety and Regulation
Each Bybit and MEXC are recognized for his or her robust safety measures. Here’s a fast security overview:
- Two-Issue Authentication (2FA): Each Bybit and MEXC implement 2FA, requiring customers to authenticate with a secondary methodology throughout logins and withdrawals. You may both use SMS-based 2FA or Google Authenticator.
- Anti-Phishing Code: You may set a singular anti-phishing code to make sure that official emails from each crypto exchanges are simply identifiable. This measure helps scale back phishing makes an attempt and fraud.
- Withdrawal Tackle Whitelist: Each platforms provide handle whitelisting, permitting you to pre-approve particular crypto pockets addresses for fund withdrawals. This prevents unauthorized transfers even when an account is compromised.
- Proof of Reserves (PoR): Bybit has over $18 billion in person belongings, showcasing robust reserves in accordance with DeFiLlama. MEXC, as compared, holds round $1 billion, considerably decrease.
- Chilly Storage: Each cryptocurrency exchanges retailer the vast majority of their funds in offline chilly wallets, making them safe from on-line hacks. This methodology has been efficient, as neither platform has reported any hacking incidents.
In line with the cybersecurity company Certik, MEXC has a security rating of 81.82 with an A ranking, rating it because the tenth most secure crypto alternate amongst all platforms. Then again, Bybit performs barely higher with a security rating of 85.58 and an A ranking, inserting it among the many prime 6 most secure crypto exchanges.
These scores replicate the general safety practices, together with measures like two-factor authentication, chilly storage, and their response to safety incidents.
When it comes to laws, Bybit holds a transparent benefit. It operates below regulatory frameworks in a number of areas, together with Georgia, the Netherlands, Kazakhstan, and Dubai, which reinforces its credibility and aligns it with authorized requirements.
Then again, MEXC is just not regulated by any main monetary authority, which can concern customers who prioritize compliance and oversight.
Bybit vs MEXC: KYC Requirement
MEXC and Bybit have totally different approaches on the subject of KYC (Know Your Buyer) necessities.
Bybit requires customers to finish sure ranges of verification to unlock larger withdrawal limits and entry particular options. It has two fundamental KYC ranges: Degree 1 and Degree 2.
- For Degree 1, customers want to supply identification paperwork and endure facial recognition. Finishing this permits a each day withdrawal restrict of as much as 1 million USDT with no cap on month-to-month withdrawals.
- Degree 2 verification provides proof of residence, rising the each day withdrawal restrict to 2 million USDT whereas nonetheless sustaining no month-to-month restrict. You can even improve your each day withdrawal limits by rising your VIP tier.
MEXC, however, is well known as a no-KYC crypto alternate, that means customers can commerce with out present process ID verification. For unverified accounts, customers can withdraw as much as 10 BTC per day.
Nonetheless, if customers select to confirm their identification, larger limits can be found. Fundamental KYC entails submitting private particulars and an ID and elevating the withdrawal cap to 80 BTC each day. Superior verification provides facial recognition and will increase the each day restrict to 200 BTC, whereas institutional verification, which requires enterprise paperwork, permits withdrawals of as much as 400 BTC each day.
Winner: MEXC is finest for many who worth privateness and like buying and selling with out verification, whereas Bybit caters to customers who prioritize larger limits and a extra regulated expertise.
Bybit vs MEXC: Deposits & Withdrawal strategies
Bybit offers a broader vary of fiat choices. It helps deposits in over 60 fiat currencies and permits P2P transactions with greater than 100 native cost strategies.
To purchase crypto immediately, widespread deposit strategies embrace SEPA transfers, Google Pay, and third-party companies like MoonPay, Banxa, and Mercuryo. Bybit’s versatility makes it simpler for customers to transform fiat into crypto and vice versa.
MEXC solely helps deposits in 3 fiat currencies: USD, EUR, and GBP. You may fund your account by means of strategies equivalent to credit score/debit playing cards (Visa and Mastercard), SWIFT transfers, peer-to-peer (P2P) buying and selling with native cost strategies (like UPI and GPay), and third-party platforms like Banxa, Simplex, and Mercuryo. Plus, MEXC gives its Mastercard for funds. Nonetheless, it doesn’t help direct checking account transfers for fiat withdrawals.
Winner: Bybit is the winner in deposit and withdrawal choices, because it helps over 60 fiat currencies and gives a variety of cost strategies.
Bybit vs MEXC: Buying and selling Quantity and Liquidity
In line with CoinMarketCap, Bybit ranks 2nd in total buying and selling quantity and liquidity, whereas MEXC holds the tenth place. Bybit information a spot buying and selling quantity exceeding $7.5 billion and has a liquidity rating of 676, indicating robust market depth and environment friendly order execution. MEXC, with a spot buying and selling quantity of $4.5 billion, achieves a barely larger liquidity rating of 687. Each exchanges are good for crypto day buying and selling.
Nonetheless, MEXC’s massive variety of supported cryptocurrencies dilutes its liquidity, significantly in low-cap altcoins, the place buying and selling exercise is much less concentrated. Each platforms keep excessive liquidity for widespread tokens, however Bybit’s fewer but extra concentrated choices guarantee stronger liquidity throughout its listed markets.
Winner: Bybit has larger buying and selling quantity and liquidity than the MEXC alternate.
Bybit vs MEXC: Person Expertise and Buyer Help
Throughout our Bybit vs MEXC comparability, we discovered that Bybit gives a greater person expertise than MEXC resulting from its clear design and easy efficiency. One among its finest options is the Unified Buying and selling Account, which helps you to handle spot, futures, and choices buying and selling from one place.
This makes it simpler to deal with your funds with out shifting them between wallets. Bybit’s platform runs quick and doesn’t lag, even throughout busy buying and selling instances. Its cell app is simply as easy, making it dependable for on-the-go buying and selling.
MEXC, whereas providing a variety of options and buying and selling pairs, has a extra cluttered interface which will really feel overwhelming for brand new customers. Its interface is much less organized, and the platform generally lags, particularly when buying and selling exercise is excessive. This may be irritating when you’re attempting to execute trades rapidly.
Each exchanges present 24/7 buyer help through dwell chat and electronic mail. Bybit, nonetheless, delivers faster response instances and extra in-depth options, together with a well-organized assist heart that options tutorials and FAQs to help merchants in any respect ranges.
Winner: Bybit gives a greater person expertise in comparison with MEXC.
Ultimate Verdict: Which is Higher?
To conclude our Bybit vs MEXC comparability, each exchanges provide spectacular options, however they cater to barely several types of customers. Bybit stands out for its superior instruments like derivatives buying and selling with as much as 100x leverage, choices buying and selling, and a easy person interface. It’s perfect for skilled merchants searching for a dependable platform with robust safety measures.
MEXC offers a big selection of low-cap and new cash, larger leverage of as much as 200x, and zero-fee futures buying and selling, making it good for merchants seeking to discover early-stage cryptocurrencies. Nonetheless, Bybit has a extra polished person expertise and higher buyer help. Each exchanges have robust safety, however MEXC gives no-KYC buying and selling, which appeals to privacy-conscious customers.
FAQs
Is MEXC a dependable alternate?
MEXC is taken into account dependable by many crypto merchants. It’s ranked #10 amongst crypto exchanges on CoinMarketCap for liquidity and buying and selling quantity. The platform has sturdy safety measures like 2FA, withdrawal whitelists, and chilly storage for funds. MEXC has by no means been hacked, which provides to its trustworthiness.
In line with Certik, a number one blockchain safety agency, MEXC has a security rating of 81.82 and an “A” ranking. It additionally offers entry to many new and low-cap cash, making it a well-liked alternative for early adopters.
Are Bybit and MEXC out there within the US?
Each Bybit and MEXC usually are not absolutely out there in america resulting from regulatory restrictions. Bybit particularly prohibits US residents from utilizing its platform, however some customers entry it through VPNs.
MEXC additionally has restricted entry for US customers and advises merchants to verify their native laws earlier than signing up. Regardless of their restrictions, each platforms stay widespread globally and provide in depth options for non-US clients.
Is Bybit higher than MEXC?
Bybit excels in derivatives, providing as much as 100x leverage, and has options like choices buying and selling, copy buying and selling, and a easy person expertise. It additionally helps over 60 fiat currencies for deposits.
MEXC shines in its help for low-cap and new cryptocurrencies. It additionally gives excessive leverage (200x) and 0 maker charges in futures buying and selling. Bybit is healthier for superior buying and selling instruments and a sophisticated interface, whereas MEXC is right for locating area of interest cash.
Can I purchase crypto with out KYC on Bybit and MEXC?
You can’t commerce or deposit crypto on Bybit with out finishing KYC (Know Your Buyer) verification. Bybit requires full verification earlier than you may make deposits or commerce. Nonetheless, you’ll be able to nonetheless withdraw as much as 20,000 USDT per day with out KYC.
MEXC permits customers to commerce and withdraw as much as 10 BTC each day with out finishing KYC. This makes MEXC extra accessible for customers preferring to not share private particulars.
