ByBit Is one of the most popular exchanges in the crypto industry. This article will show the best ByBit alternatives, so if you are looking to replace ByBit with some other exchange, you are at the right place.
👛 Ease of Use – Medium 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, AUD, RUB
Over 30 million users worldwide and more than $15 billion in daily trading volume make Binance the world’s largest centralized cryptocurrencies exchange. Originally from Hong Kong and now from the small European island of Malta, this exchange was founded in July 2017, and it quickly became the most used exchange on the market. Binance is supported in 60+ countries (excluding the U.S).
On Binance, you can buy, sell, and trade a large number of cryptos with low fees. Two Factor Authentication, cold storage, and multi-sig wallets provide Binance users excellent security. It is considered one of the most secure cryptocurrencies exchange in the crypto sphere. Binance supports spot trading, margin trading, P2P trading, futures, earn (locked savings, fixed savings, yield farming, and DeFi staking), mining, and staking pools. You can trade more than 350 cryptos and over 1300 trading pairs.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: Vary from crypto to crypto ⚡️ Trading fees: 0.1% ⚡️ Payment Methods: Debit Card, Credit Card, SWIFT, Bank Transfer (SEPA), and more ⚡️ Supported fiat: USD, EUR, GBP, AUD, RUB, and 15+ more
Low fees High liquidity Lite and Pro version 350+ cryptos and 20+ fiat currencies
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – None
PrimeXBT came into the crypto markets with aggressive adverts and appealing features – it was a platform with a mission to take on the leader among crypto margin exchanges – BitMex.
hey tried luring new customers with incredibly high leverages (100x) and more recently, by entering a partnership with Covesting, a cryptocurrency social trading platform started back in 2017 that has its own token dubbed COV.
So far, judging by the trading volumes, they did a moderately good job as the platform is not even among the top 20 derivative exchanges according to Coingecko data.
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 day 👛 Reputation – Trusted 👛 Supported fiat – USD, HKD, GBP, EUR, and more
FTX is a cryptocurrency exchange platform that is designed for experienced and professional traders. It was founded back in 2019, and recently the headquarters were moved from Hong Kong to the Bahamas. It is a well-established and trusted platform.
FTX is available to 100+ different countries worldwide, and it offers its users more than 300 cryptocurrencies to buy, sell, and trade with over 450 trading pairs. FTX supports spot trading, margin trading, futures, OTC, leverage, NFTs, and many more. FTX has a mobile app that is available to both Android and iOS.
👛 Ease of Use – Medium 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD, EUR, GBP, CAD, AUD
Bitcoin Mercantile Exchange, or BitMEX, is a margin trading platform owned by HDR Global Trading Limited. HDR was founded in 2014 by three experts in the market – Arthur Hayes, Samuel Reed, and Ben Delo.
In the last couple of year, Bitmex got some competition to deal with – primarily from Bitfinex and PrimeXBT but also “regular” exchanges like Binance and Kraken adding leveraged trading to chop away from Bitmex’s pie.
👛 Ease of Use – Easy 👛 Fees – Low 👛 Verification – 1 Day 👛 Reputation – Trusted 👛 Supported fiat – USD
One of the most famous UK crypto exchange platforms, StormGain, was established in 2019 and has managed to amass a huge following in a relatively short period. This London-based crypto exchange is supported in more than 180 countries, and it has somewhere around 5 million users worldwide.
StormGain’s recipe for success lies in the advanced features it offers. Advanced charting and trading tools, trade alerts, and a contract settlement in Tether (USDT) stablecoin are just some of the examples.
The platform also provides users with margin trading, derivatives, futures trading, and leveraged trading features. Leveraged trading is by far the most popular since StormGain offers up to 200x leveraged trading.
⚡️ Deposit fees: Free for crypto and 5% for fiat deposits ⚡️ Withdrawal fees: 0.1 % ⚡️ Trading fees: 0.095 % (BTC) ⚡️ Payment Methods: Credit/Debit Card and Third-party methods ⚡️ Supported fiat: USD and none for withdrawal
High leverage Competitive fees Great customer support
It is not regulated Doesn’t support crypto-to-fiat exchanges
It is one of the newer crypto derivative exchanges on the market. While everything around it looks and sounds appealing, Phemex still has things to prove.
This exchange is based in Panama and is not available in the U.S. or Japan, but it supports most other countries around the world.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: Depends on the current state of the Bitcoin network ⚡️ Trading fees: 0.05% ⚡️ Payment Methods: Only BTC ⚡️ Supported fiat: None
Leveraged trading up to 100x on perpetual swaps Robust security features Options and futures trading available
Too complicated for new crypto investors Not available in the U.S. or Japan No fiat currency support
Like many similar exchanges, Margex is also a bitcoin-only platform when it comes to withdrawals. However, you can deposit funds with either bitcoin or fiat, thanks to their integration with Changelly, a service where you can buy crypto with credit and debit cards.
⚡️ Deposit fees: Free ⚡️ Withdrawal fees: You only pay the miners fees, Margex charges no extra cost. ⚡️ Trading fees: 0.019% – 0.060% ⚡️ Payment Methods: You can deposit fiat via Changelly platform ⚡️ Supported fiat: USD
Lowest fees in the industry High leverage No KYC
Relatively new platform Not available in the U.S. or Japan Anonymous company behind the platform
Is Bybit a good platform❓ ByBit is definitely considered a good platform.
Which countries Cannot use Bybit❓ Citizens of these countries can’t use ByBit: The U.S, Quebec (Canada), Singapore, Cuba, Crimea, Sevastopol, Iran, Syria, North Korea, Sudan, and Mainland China.
Which is better Binance or Bybit❓
Our vote goes to Binance.
Does ByBit report to IRS❓
No, ByBit does not report to the IRS.
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CaptainAltcoin's writers and guest post authors may or may not have a vested interest in any of the mentioned projects and businesses. None of the content on CaptainAltcoin is investment advice nor is it a replacement for advice from a certified financial planner. The views expressed in this article are those of the author and do not necessarily reflect the official policy or position of CaptainAltcoin.com
I am Petar and I come from a small country in South-Eastern Europe called Serbia. I am a big-time crypto enthusiast and I am proud to be a part of the project. My job with Captainaltcoin is the content editor and content writer position.
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