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This Bybit vs Coinbase article is a brief comparison of the two well-known crypto exchanges and takes a deeper look into what both of them have to offer. Even though Bybit and Coinbase have good reputations in the industry, both platforms do have some pros and cons.
Therefore, if you are looking to trade crypto then the comparison below can help you determine which of these two remarkable exchanges suits your needs the most.
Bybit vs Coinbase – Introduction of the Exchanges
Coinbase is one of the world’s largest crypto exchanges and is based in the USA. It facilitates more than 43 million verified users and is a fully regulated and licensed crypto exchange. The user interface is simple and easy to navigate, making it a good option for beginners. It also supports unique features such as Coinbase Pro, Learn and Earn and more.
Bybit is one of the most popular peer-to-peer (P2P) trading platforms in the industry. It offers some of the best trading features that make it a prominent option for crypto traders, experienced and inexperienced alike. This platform has several selling points as it offers one of the highest leverages for margin trading and has a fair and transparent fee structure.
Bybit now also offers the copy trading feature for all traders. By signing up with our link, you can get a bonus of up to $4,380 on yourfirst deposit. (Bonus may vary based on deposit amount)
Bybit vs Coinbase – Comparison of Customer Support Services
Coinbase is an outstanding cryptocurrency exchange that is popular for several of its impressive attributes. However, one of the aspects it lacks is impeccable customer support. Choosing an exchange that offers high-end customer support services can make quite a difference for users. Crypto traders can immediately get professional assistance in case of any emergency or concern and tackle the complications accordingly. While the Coinbase exchange does have a customer support system, it is not as immaculate as you might anticipate, given the reputation of the platform.
Bybit, on the other hand, has several outstanding selling points, which include its customer support services, available 24/7. The customer service agents are not only experienced but respond without any delays or complications. The Bybit exchange also has a live chat feature, which enables users to easily reach out to customer support agents.
Bybit vs Coinbase – Comparison of Payment Methods
Coinbase is a powerful crypto exchange and supports multiple payment methods.
The payment methods supported by the exchange include:
- Credit cards
- Debit cards
- Direct crypto withdrawals and deposits
- PayPal
- Wire Transfers (ACH/SEPA)
When it comes to payment methods supported by an exchange, Bybit stands out among several of its competitors. This platform offers a much better and wider collection of payment methods. Users of the Bybit exchange can choose from nearly 300 payment methods available, which include:
- Credit cards
- Debit cards
- In-person cash payments
Bybit vs Coinbase – Comparison of Security Features
In terms of security, both Coinbase and Bybit, are known to be some of the safest exchanges in the industry. Both platforms prioritize the safety of user funds and accounts above all else and implement high-end security protocols such as:
- Two-factor authentication (2FA) systems
- Cold wallet storage
Choosing a secure platform should be the priority of every crypto investor and trader as such an exchange can help them successfully tackle unnecessary risks.
Bybit vs Coinbase – Comparison of Trading Features
Coinbase is an advanced trading platform that has a good reputation. It also supports a separate version for experienced traders and investors called Coinbase Pro. This version also offers advanced trading tools and features that are often required by professional traders. However, it does not offer other trading features such as margin trading and more.
Bybit, on the other hand, is a much better option as it is a better-equipped trading platform. This crypto exchange is one of the top exchanges for margin trading. It also supports the following trading features, making it an outstanding option for traders.
- Perpetual contract trading
- Spot trading
- Copy trading
Bybit vs Coinbase – Comparison of Trading Fees
The fee structure of exchange is one of the top aspects that need to be thoroughly explored before it is chosen to buy, sell or trade crypto assets. The type of fee charged by different exchanges can be somewhat similar as most of them require the users to pay withdrawal and trading fees. However, the difference is in the amount and transparency of each exchange’s fee structure.
Coinbase is a well-known cryptocurrency exchange, however, the fee it charges is not one of its strongest points. The fee structure of the U.S.-based exchange is complicated and the fee crypto traders have to pay is also high.
Conversely, Bybit is a better option in terms of the fee charged as it is one of the cheapest exchanges in the industry. The trading fee charged by Bybit is straightforward, and fair and does not include any hidden charges. It charges a fee according to the market maker and taker fee model, details of which are mentioned below.
- 0.075% trading fee for market takers
- -0.025% trading fee for market makers
Bybit vs Coinbase – Key Takeaways!
The Bybit vs Coinbase comparison above addresses numerous aspects of both cryptocurrency exchanges. Where one lacks, the other platform offers impressive features that are hard to overlook while choosing a suitable exchange. Even though both platforms are well-reputed, Bybit does offer a better fee structure and trading features. It also offers customer support services and other features more efficiently than Coinbase. Therefore, if Bybit suits your trading requirements, it is a good exchange to use for trading crypto.
You can also take a look at our full Bybit tutorial below.
