Binance vs Bybit: Which Crypto Exchange Is Better in 2025?
Binance is better for traders who want the largest selection of coins (600+), lowest fees with stacking discounts, and a full crypto ecosystem (staking, NFTs, cards). Bybit is better for derivatives-focused traders who prioritize a cleaner interface, higher maker rebates on futures, and better copy trading tools.
I’ve used both platforms for over two years. Binance handles 95% of my spot trades because the liquidity and coin variety are unmatched. But when I’m trading futures or testing copy strategies, I switch to Bybit—the interface is faster and the maker rebates actually pay me to provide liquidity.
What Makes These Exchanges Different?
Binance and Bybit both offer spot and derivatives trading, but they’re built for different priorities. Binance is the all-in-one platform. It’s the largest exchange by volume ($40+ billion daily), offers 1,600+ trading pairs, and includes services most exchanges don’t touch—staking, an NFT marketplace, Visa cards, even a blockchain (BNB Chain).
Bybit began as a derivatives-only exchange and continues to focus heavily on futures and margin trading. It’s cleaner, faster, and less cluttered. If you’re primarily trading perpetuals with high leverage, Bybit’s interface won’t overwhelm you with features you don’t need.
The core difference: Binance tries to be everything. Bybit focuses on doing leveraged trading really well.
Trading Fees: Which Exchange Saves You More?
Both exchanges start at 0.1% for spot trading (maker and taker). But the discount structures diverge quickly.
Binance Fee Structure
Binance gives you three ways to cut fees: referral kickbacks (up to 20%), BNB payment discount (25%), and VIP tiers based on volume. Stack all three and you can reach 0.05% or lower.
Futures fees start at 0.02% maker / 0.04% taker. As you climb VIP tiers (based on 30-day volume or BNB holdings), maker fees drop to 0.012% and taker to 0.03% at VIP 4.
From my trading, Binance’s fee advantage shows up most on high-volume spot trading. When I’m rotating between altcoins or rebalancing a portfolio, the BNB discount alone saves me $40–$60 monthly on $150k volume.
Bybit Fee Structure
Bybit’s spot fees are also 0.1% base, but they offer occasional zero-fee promotions on specific pairs (USDT/USDC, new listings). No native token discount like BNB, but VIP tiers drop fees quickly.
Where Bybit wins: futures maker fees. At the base tier, you pay 0.02% maker / 0.055% taker. But maker fees go negative at VIP 1—you earn a 0.01% rebate for providing liquidity. At VIP 3, that rebate hits 0.02%. Binance doesn’t offer negative maker fees until much higher tiers.
I’ve tested this on BTC perpetuals. With a $50k position using limit orders, Bybit pays me roughly $10 per round trip instead of charging me. That flips the fee equation entirely.
Winner: Tie (Context-Dependent)
Binance wins on spot if you use BNB discounts. Bybit wins on futures if you’re placing maker orders. For mixed trading, Binance’s stacking discounts edge ahead.
Coin Selection and Trading Pairs
Binance offers 600+ cryptocurrencies and 1,600+ trading pairs. If a coin has any legitimacy or volume, it’s on Binance. That includes obscure altcoins, new launches, and every major stablecoin pair combination.
Bybit offers around 400 cryptocurrencies and 900+ pairs. Still extensive, but noticeably thinner on low-cap altcoins and niche tokens. Most top-100 coins are covered, but if you’re hunting micro-cap gems or region-specific tokens, you’ll hit gaps.
I’ve had multiple situations where a token I wanted to trade existed only on Binance. The reverse has happened maybe twice. If coin variety matters, Binance is non-negotiable.
Winner: Binance
Leverage and Derivatives Trading
Both exchanges offer high leverage, but with different caps and features.
Binance: Up to 125x leverage on major pairs like BTC/USDT and ETH/USDT. Perpetual futures, quarterly futures, and options available. Margin trading up to 10x on spot pairs.
Bybit: Up to 100x leverage on major pairs. Perpetual futures, inverse contracts, and USDC-settled options. Margin trading up to 5x on spot pairs.
Binance technically offers higher max leverage, but I’ve never used above 20x on either platform—risk management matters more than theoretical caps. The real difference is in execution speed and interface clarity during volatile moves.
Bybit’s futures interface is faster. During high volatility (like a sudden BTC pump), my orders execute with less slippage on Bybit. Binance occasionally lags when volume spikes, especially during liquidation cascades.
Winner: Bybit (for active futures traders)
User Interface and Experience
Binance’s interface is powerful but cluttered. The main dashboard throws everything at you: spot, futures, staking, earn products, NFTs, P2P, cards, pay, convert, and more. For experienced traders, that’s great—I can jump between spot and futures in one click. For beginners, it’s overwhelming.
Bybit’s interface is cleaner and more focused. The trading view prioritizes charts and order books. Fewer distractions. The mobile app is noticeably smoother—order placement on mobile is faster on Bybit than Binance.
From my use: Binance when I’m on desktop managing multiple positions across spot and derivatives. Bybit when I’m mobile and need to adjust a futures position quickly without navigating through five menus.
Winner: Bybit (for simplicity), Binance (for power users)
Copy Trading and Social Features
Both platforms offer copy trading, but Bybit’s implementation is more mature.
Bybit’s copy trading lets you browse trader leaderboards filtered by PnL, win rate, ROI, and risk score. You can allocate a set amount (e.g., $1,000) to auto-copy a trader’s positions with customizable stop-loss and take-profit rules. The interface shows real-time stats on every trader.
Binance launched copy trading more recently. It works, but the trader discovery is less refined. Fewer filters, less historical data visible, and the leaderboard refreshes slower.
I tested copy trading on both. Bybit’s top traders had 6+ months of verified history. Binance’s top traders showed 2–3 months. That extra data matters when you’re trusting someone with your capital.
Winner: Bybit
Security and Trust
Both exchanges use standard security measures: 2FA, withdrawal whitelisting, cold wallet storage for most funds, and anti-phishing codes. Neither has a perfect record.
Binance: Suffered a $570 million hack in 2022 (BNB Chain bridge exploit). Funds were recovered through chain freezes and coordination. Binance maintains a SAFU (Secure Asset Fund for Users) with $1 billion reserved for emergency coverage.
Bybit: No major hacks to date. Maintains insurance funds for derivatives positions but no equivalent to SAFU. Publishes monthly proof-of-reserves showing 100%+ backing.
Both are adequately secure for retail traders. I keep most funds in cold storage and only leave trading capital on exchanges. Binance’s SAFU fund gives slight edge for worst-case scenarios, but Bybit’s clean security record balances that out.
Winner: Tie
Additional Features
This is where Binance separates from every other exchange.
Binance offers:
- Staking (flexible and locked) with 50+ supported coins
- Savings products (crypto lending at 1–8% APY)
- NFT marketplace (mint, buy, sell)
- Launchpad (early access to new token sales)
- P2P trading (buy crypto with bank transfer, no KYC on some regions)
- Binance Pay (send/receive crypto free)
- Web3 wallet integrated into the app
Bybit offers:
- Earn products (staking and savings, fewer options than Binance)
- Copy trading (better than Binance’s version)
- TradeGPT (AI market insights, still experimental)
- Leveraged tokens (BTCUP/BTCDOWN for simplified leverage)
- NFT marketplace (smaller selection than Binance)
Binance is an ecosystem. Bybit is an exchange with some extras. If you want one platform that handles trading, earning yield, spending crypto, and accessing NFTs, Binance does it all. If you just want to trade, Bybit’s extras won’t matter much.
Winner: Binance
Liquidity and Volume
Binance processes roughly $40 billion in 24-hour volume ($10 billion spot, $30 billion derivatives). Bybit does around $12 billion ($2.4 billion spot, $9.3 billion derivatives).
Higher liquidity means tighter spreads, faster fills, and less slippage. On a $10,000 BTC market order, Binance typically fills 0.02–0.03% closer to mid-price than Bybit. On smaller trades (<$5,000), the difference is negligible.
For large positions ($50k+), I default to Binance. The order book depth is deeper, and I can execute without moving the market. For standard retail trades, Bybit’s liquidity is more than sufficient.
Winner: Binance
Regulations and Availability
Both platforms face regional restrictions, especially in the U.S., UK, and Canada.
Binance: Operates in 100+ countries. U.S. users must use Binance.US (separate platform with fewer features). Restricted or limited in UK, Canada, Singapore, and several EU countries due to regulatory pressure.
Bybit: Available in 180+ countries but restricted in U.S., UK, Canada, and some EU regions.
Neither is ideal if you’re in a heavily regulated jurisdiction. Binance.US is an option for Americans, but it’s a downgraded version (no futures, fewer coins). Bybit has no U.S. alternative.
From a compliance perspective, Binance is more proactive about obtaining licenses. Bybit operates in a grayer area in some regions, which introduces regulatory risk.
Winner: Binance (slightly, due to Binance.US option)
Real-World Use Cases: Which Exchange for What?
Use Binance if you:
- Trade a wide variety of altcoins and need deep liquidity
- Want to stake, earn yield, and access NFTs in one place
- Can stack referral + BNB discounts for maximum fee reduction
- Trade mostly spot or a mix of spot and futures
- Want a crypto Visa card for spending
Use Bybit if you:
- Primarily trade futures and want negative maker fees
- Prefer a cleaner, faster interface without feature bloat
- Use copy trading as a core strategy
- Trade on mobile frequently and need quick execution
- Don’t care about staking, NFTs, or ecosystem features
My personal split: 80% of my capital sits on Binance because I trade spot heavily and use staking for idle USDT. 20% on Bybit for futures positions where I want maker rebates and faster execution.
Common Mistakes Traders Make
Using one exchange for everything. Most traders pick Binance or Bybit and never explore the other. You’re leaving money on the table. Use Binance for spot + ecosystem features. Use Bybit for futures with maker rebates. It takes ten minutes to set up both.
Ignoring fee structures. I’ve seen traders execute high-frequency futures trades on Binance with taker orders, paying 0.04% per trade. Switching to Bybit with maker orders would’ve earned them rebates instead. Run the math based on your strategy.
Not testing interfaces before depositing large amounts. Both platforms offer testnet environments. Try placing orders, navigating charts, and executing trades before committing real capital. I spent two days on Bybit testnet before moving funds over.
Forgetting about regional restrictions. Some traders discover mid-trading that their country is restricted or that withdrawal limits change without notice. Check your jurisdiction’s status on both platforms before signing up.
FAQ: Binance vs Bybit
Which exchange has lower fees?
Binance has lower spot fees if you use BNB payment and referral discounts (can reach 0.05%). Bybit has lower futures fees if you place maker orders, with negative fees (rebates) starting at VIP 1. Winner depends on your trading type.
Can U.S. residents use Binance or Bybit?
Binance.US is available to U.S. residents but with limited features (no futures, fewer coins). Bybit is restricted in the U.S. and doesn’t offer a U.S.-specific platform. Use a compliant U.S. exchange like Coinbase or Kraken for derivatives.
Which platform is better for beginners?
Bybit’s cleaner interface is easier for beginners to navigate. Binance offers more educational resources and a wider coin selection but can overwhelm new users. Start with small amounts on Bybit, then expand to Binance as you learn.
Do both exchanges require KYC?
Yes. Both require identity verification (KYC) for full features. Binance allows limited trading (withdrawals up to 0.06 BTC/day) without KYC in some regions. Bybit requires KYC for most functions. Expect to submit ID and proof of address.
Which exchange is safer?
Both are adequately secure for retail traders. Binance has a $1 billion SAFU insurance fund. Bybit has no major hacks but lacks an equivalent insurance fund. Neither is as safe as self-custody cold wallets—only keep trading capital on exchanges.
Can I use both exchanges at the same time?
Yes, and it’s common. Many traders use Binance for spot and Bybit for futures to optimize fees and features. Both allow multiple devices logged in simultaneously. I run Binance on desktop and Bybit on mobile for active futures positions.
My Recommendation
You don’t need to pick just one. I use both, and most serious traders I know do the same.
Start with Binance if you’re new to crypto or trade mostly spot. The coin selection and ecosystem features give you room to explore staking, NFTs, and different trading strategies. Use referral code 4DxG4f and enable BNB payment immediately to cut fees by 40%.
Add Bybit once you start trading futures regularly. Open an account with referral code SX34dxdX, test the interface on small positions, and transition high-frequency futures trades there to capture maker rebates.
That’s the setup I’ve been running since 2023. Binance handles my spot portfolio and long-term holds. Bybit handles leveraged trades where execution speed and negative fees matter. It works, and the fee savings pay for the extra five minutes of setup.