Charges, Options, and Safety Comparability

The world of crypto buying and selling is booming, drawing in thousands and thousands of buyers and merchants globally. However for these simply beginning out, choosing the proper buying and selling platform can really feel tough. With so many choices obtainable, it’s vital to weigh all elements like charges, safety, supported cash, options, and the way user-friendly the platform is.

On this information, we are going to examine two well-liked cryptocurrency exchanges Bybit vs MEXC primarily based on key buying and selling options, charges, and general buying and selling expertise that can assist you determine which platform fits your wants higher. 

Bybit vs MEXC: Comparability Desk

Bybit vs MEXC: Options

Bybit Standout Options

1. Derivatives Trading: Bybit presents futures buying and selling with as much as 100x leverage. This lets you commerce massive positions with small funds, supplying you with extra revenue alternatives. It helps perpetual futures contracts in USDT and USDC margined pairs for 100+ main cryptocurrencies, providing deep liquidity.
2. Choices Trading: Bybit additionally supplies 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 assist choices contracts.
3. Copy Trading: With copy buying and selling, you may observe and replicate the methods of skilled merchants. That is good for freshmen who wish to be taught or earn passively by trusting consultants.
4. P2P Trading: Bybit’s P2P platform helps over 100 native cost strategies, together with native financial institution transfers and digital e-wallets. You’ll be able to commerce crypto instantly with others safely and at no further charges.
5. OTC Trading: 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 beneficial for institutional or high-net-worth merchants.
6. Crypto Loans: You’ll be able to borrow crypto by providing your belongings as collateral. That is useful for getting funds with no need to promote your holdings at low costs.
7. Trading Bots: Bybit presents bots for automated buying and selling primarily based on pre-set methods. These bots assist execute trades 24/7, saving you time and optimizing income.
8. Staking: Bybit’s staking permits you to earn passive rewards by locking your crypto. Versatile and stuck staking choices will let you select primarily based in your objectives. It additionally presents liquidity mining by its Bybit DeFi pockets.
9. 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.
10. NFT Market: Bybit’s NFT Market means that you can purchase and promote digital collectibles and artwork. It helps numerous NFT tasks, making it simple to discover the rising NFT market.

MEXC Standout Options

1. 200x Leverage Trading: MEXC presents as much as 200x leverage on futures buying and selling, one of many highest amongst crypto exchanges. If we examine, Bybit presents 100x leverage, and Binance and Bitget additionally provide as much as 125x leverage.
2. No-KYC Trading: MEXC permits customers to commerce with out finishing a Know Your Buyer (KYC) course of. This makes it simple to start out buying and selling rapidly and ensures privateness for many who choose to not share private particulars. Nevertheless, some options and withdrawal limits could require verification.
3. Zero-Payment Futures Trading (0% Maker): MEXC presents zero maker charges on its futures market. This reduces buying and selling prices considerably, particularly for high-frequency and algorithmic (API) merchants.
4. Launchpad and Token Airdrops: MEXC’s Launchpad helps early-stage crypto tasks, permitting customers to take a position earlier than they turn into broadly obtainable. It additionally presents frequent token airdrops, giving customers free crypto for taking part in promotions or holding sure cash.
5. Low-Cap and New Coin Assist: MEXC is thought 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 tasks. Nevertheless, buying and selling lesser-known cash can carry greater dangers because of volatility and low liquidity.

Bybit vs MEXC: Charges

Trading 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 price construction, charging solely 0.05% for each makers and takers. 

MEXC steadily hosts zero-fee buying and selling occasions, making it a favourite for these searching for the bottom buying and selling prices. It’s identified for providing among the most reasonably priced charges within the crypto trade, whereas Bybit turns into cheaper for merchants dealing with excessive buying and selling volumes.

Relating to futures buying and selling, MEXC supplies an edge with a 0% price for makers and simply 0.020% for takers. Comparatively, Bybit prices 0.02% for makers and 0.055% for takers. 

This makes MEXC’s charges noticeably decrease for futures buying and selling. Each platforms present extra advantages, together with price reductions and rewards, for VIP customers primarily based on their buying and selling quantity and account exercise.

Along with commonplace charges, Bybit and MEXC even have distinctive prices. Bybit consists of funding charges for perpetual contracts, which rely 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 prices funding charges for futures contracts and supplies reductions for high-frequency merchants.

Deposit and Withdrawal Charges

For deposit charges, each platforms are on par. Neither Bybit nor MEXC prices charges for crypto deposits. Nevertheless, in case you deposit fiat foreign money, you could incur charges relying on the cost technique. 

Bybit, for instance, could embody third-party service charges for fiat transactions. Equally, MEXC follows the identical method, with the precise price various by the cost supplier.

Withdrawal charges are one other vital issue. Once more, MEXC usually has decrease withdrawal charges in comparison with Bybit. As an illustration, 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 may well add up for frequent merchants. 

Each platforms show clear details about charges primarily based on the particular cryptocurrency you might be withdrawing, however MEXC’s barely decrease charges make it extra interesting for some customers.

Winner: MEXC presents 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 presents over 1,200 cash and greater than 1,600 buying and selling pairs, specializing in well-liked crypto belongings alongside rising tokens. This makes it appropriate for merchants in search of a mixture of main and mid-tier cryptocurrencies. 

Then again, MEXC leads with assist for greater than 2,772 cash and over 3,101 buying and selling pairs. This makes it one of many platforms with the best coin availability within the trade.

MEXC additionally steadily lists new and trending tokens sooner than many opponents. That is finest for merchants excited about area of interest or newly launched tasks. Each platforms assist main cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), however MEXC supplies higher entry to lesser-known tokens and experimental tasks. This makes it a lovely choice for altcoin buyers.

Winner: MEXC presents 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 identified 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 technique throughout logins and withdrawals. You’ll be able to both use SMS-based 2FA or Google Authenticator.
• Anti-Phishing Code: You’ll be able to set a singular anti-phishing code to make sure that official emails from each crypto exchanges are simply identifiable. This measure helps cut back phishing makes an attempt and fraud.
• Withdrawal Handle Whitelist: Each platforms provide tackle 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 line with DeFiLlama. MEXC, compared, holds round $1 billion, considerably decrease.
• Chilly Storage: Each cryptocurrency exchanges retailer nearly all of their funds in offline chilly wallets, making them safe from on-line hacks. This technique has been efficient, as neither platform has reported any hacking incidents.

In response to the cybersecurity company Certik, MEXC has a security rating of 81.82 with an A score, 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 score, inserting it among the many high 6 most secure crypto exchanges. 

These scores mirror 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 beneath regulatory frameworks in a number of areas, together with Georgia, the Netherlands, Kazakhstan, and Dubai, which boosts its credibility and aligns it with authorized requirements. 

Then again, MEXC will not be 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 greater withdrawal limits and entry particular options. It has two principal KYC ranges: Stage 1 and Stage 2. 

• For Stage 1, customers want to supply identification paperwork and bear facial recognition. Finishing this permits a every day withdrawal restrict of as much as 1 million USDT with no cap on month-to-month withdrawals. 
• Stage 2 verification provides proof of residence, rising the every day withdrawal restrict to 2 million USDT whereas nonetheless sustaining no month-to-month restrict. You can even improve your every day withdrawal limits by rising your VIP tier.

MEXC, alternatively, is widely known as a no-KYC crypto alternate, which means customers can commerce with out present process ID verification. For unverified accounts, customers can withdraw as much as 10 BTC per day. 

Nevertheless, if customers select to confirm their id, greater limits can be found. Primary KYC entails submitting private particulars and an ID and elevating the withdrawal cap to 80 BTC every day. Superior verification provides facial recognition and will increase the every day restrict to 200 BTC, whereas institutional verification, which requires enterprise paperwork, permits withdrawals of as much as 400 BTC every 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 greater limits and a extra regulated expertise.

Bybit vs MEXC: Deposits & Withdrawal strategies

Bybit supplies 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 instantly, well-liked deposit strategies embody SEPA transfers, Google Pay, and third-party providers 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’ll be able to fund your account by strategies comparable 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 presents its Mastercard for funds. Nevertheless, it doesn’t assist 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 presents a variety of cost strategies.

Bybit vs MEXC: Trading Quantity and Liquidity

In response to CoinMarketCap, Bybit ranks 2nd in general 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 greater liquidity rating of 687. Each exchanges are good for crypto day buying and selling.

Nevertheless, MEXC’s massive variety of supported cryptocurrencies dilutes its liquidity, notably in low-cap altcoins, the place buying and selling exercise is much less concentrated. Each platforms preserve excessive liquidity for well-liked tokens, however Bybit’s fewer but extra concentrated choices guarantee stronger liquidity throughout its listed markets.

Winner: Bybit has greater buying and selling quantity and liquidity than the MEXC alternate.

Bybit vs MEXC: Consumer Expertise and Buyer Assist

Throughout our Bybit vs MEXC comparability, we discovered that Bybit presents a greater person expertise than MEXC because of its clear design and clean efficiency. One among its finest options is the Unified Trading 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 transferring them between wallets. Bybit’s platform runs quick and doesn’t lag, even throughout busy buying and selling occasions. Its cell app is simply as clean, 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 typically lags, particularly when buying and selling exercise is excessive. This may be irritating in case you’re making an attempt to execute trades rapidly.

Each exchanges present 24/7 buyer assist by way of dwell chat and e-mail. Bybit, nevertheless, delivers faster response occasions and extra in-depth options, together with a well-organized assist middle that options tutorials and FAQs to help merchants in any respect ranges.

Winner: Bybit presents a greater person expertise in comparison with MEXC.

Last Verdict: Which is Higher?

To conclude our Bybit vs MEXC comparability, each exchanges provide spectacular options, however they cater to barely various kinds 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 clean person interface. It’s splendid for knowledgeable merchants in search of a dependable platform with robust safety measures. 

MEXC supplies a big selection of low-cap and new cash, greater leverage of as much as 200x, and zero-fee futures buying and selling, making it good for merchants seeking to discover early-stage cryptocurrencies. Nevertheless, Bybit has a extra polished person expertise and higher buyer assist. Each exchanges have robust safety, however MEXC presents 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 response to Certik, a number one blockchain safety agency, MEXC has a security rating of 81.82 and an “A” score. It additionally supplies entry to many new and low-cap cash, making it a preferred alternative for early adopters.

Are Bybit and MEXC obtainable within the US?

Each Bybit and MEXC aren’t totally obtainable in the US because of regulatory restrictions. Bybit particularly prohibits US residents from utilizing its platform, however some customers entry it by way of 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 well-liked globally and provide intensive options for non-US prospects.

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 clean person expertise. It additionally helps over 60 fiat currencies for deposits. 

MEXC shines in its assist for low-cap and new cryptocurrencies. It additionally presents excessive leverage (200x) and 0 maker charges in futures buying and selling. Bybit is best for superior buying and selling instruments and a sophisticated interface, whereas MEXC is good for locating area of interest cash.

Can I purchase crypto with out KYC on Bybit and MEXC?

You can not 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. Nevertheless, you may 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 every day with out finishing KYC. This makes MEXC extra accessible for customers preferring to not share private particulars.