Bybit vs Bitfinex

Bybit vs Bitfinex Comparison Table 2024
Bybit	Bitfinex
Review 3.1	Review 3.9
Traders from US not accepted See available crypto brokers	Traders from US not accepted See available crypto brokers
Bybit is an established crypto exchange aimed at online traders. Clients can speculate on leading tokens like Bitcoin, access crypto staking and loans, or trade NFTs using the firm's digital marketplace. Millions of users have signed up with the firm since it launched in 2018.	Established in 2012, Hong Kong-based Bitfinex is a formidable player in the crypto industry. It boasts a powerful proprietary platform, 180 cryptocurrencies and more than 430 market pairs available for spot or perpetual swaps derivatives trading. With new payment methods, lower entry barriers and fresh products like crypto futures, Bitfinex is attracting a wider range of active crypto traders.
Bonus Offer
Up To 4030 USDT Welcome Bonus	Referral Codes
Comment by Reviewer
"Bybit is a good choice for active traders who want a fast and straightforward way to buy crypto tokens and trade crypto derivatives."	"With its growing token selection, advanced charting tools and volume-based fee structure, Bitfinex is a compelling choice for frequent crypto traders. However, testing reveals a daunting platform for newer day traders, hit-and-miss education and regulatory fines that raise safety concerns."
Pros
Dual price mechanism reducing unfair liquidations Increased profit potential with leverage up to 1:100 24/7 customer help from a multilingual service team No limits on trades and withdrawals on any account Best-in-class market depth, minimum price impact trade execution Industry-leading cold wallet strengthens security and improves the safety of funds A useful risk management tool protecting retail traders against unfavorable price fluctuations 100,000 TPS per contract which results in no overloads with an ultra-fast matching engine that is 10x the industry average Retail clients can easily swap between supported coins within accounts, take profit and stop loss, strategy alerts, and adjust orders	Despite a steep learning curve, the Bitfinex trading platform delivers for experienced traders, featuring a comprehensive charting package with 12 timeframes, plus margin trading and various order types. Bitfinex boasts excellent liquidity across its crypto trading pairs, reducing the likelihood of slippage and ensuring efficient order execution, particularly for large volume trades, making it reliable for frequent traders. After bolstering its roster, Bitfinex now offers access to over 180 cryptocurrencies, from Bitcoin and Ethereum to emerging altcoins with high levels of volatility that may appeal to day traders. Bitfinex is well-suited to algo traders, facilitating automated trading through its Honey terminal and API integration, enabling traders to program trading strategies efficiently.
Cons
Bybit is not currently regulated in any country Residents of some countries are restricted from opening an account, including clients from the US	Despite enhancing its security measures with two-factor authentication, Bitfinex still hasn’t escaped its dogged history of major security breaches and regulatory fines. Like many crypto exchanges, Bitfinex operates in a regulatory grey area, which may pose risks for traders, especially compared to trusted crypto trading platforms like eToro. Although Bitfinex has removed its $10,000 minimum deposit, making it more accessible to newer traders, the fee system remains complicated, with various factors such as trading volume and token holdings influencing fees, potentially leading to confusion. Testing reveals inadequate support, especially for active traders, with response times of 12 hours via email and a frustrating user experience with no live chat integrated into the trading platform. For occasional crypto traders and investors prioritizing simplicity, platforms like eToro, Gemini, or Kraken are superior options.
Instruments
Cryptos, Futures	Cryptocurrencies
Demo Account
Yes	Yes
Minimum Deposit
$0	$0
Trading Platforms
MT4 TradingView	Web Platform
Payment Methods
Bitcoin Payments Credit Card Ethereum Payments Mastercard Visa Wire Transfer	Volet Bitcoin Payments Credit Card Debit Card Ethereum Payments Mastercard Payoneer PayPal Perfect Money Simplex Skrill TransferWise UnionPay Visa Western Union Wire Transfer
Minimum Trade
0.001 Lots	$10
Regulator
	Unregulated
Margin Trading
Yes	Yes
STP Account
Yes	No
ECN Account
No	No
DMA Account
No	No
MAM Account
No	No
PAMM Account
No	No
LAMM Account
No	No
Demat Account
No	No
AI / Machine Learning
Yes	No
Robo Advisor
No	No
Negative Balance Protection
No	No
Market Maker
No	No
P2P Trading
Yes	Yes
Spot Trading
Yes	Yes
Mobile Apps
Yes (iOS & Android)	iOS & Android
App Review
	Bitfinex provides a mobile application that mirrors the full functionality of its web platform, facilitating seamless crypto trading on the move. The app also includes a Lite Mode for a simplified trading experience, presenting a more user-friendly interface for trading, staking, and lending cryptos, requiring just a few taps. The app is downloadable from both Apple’s App Store and Google’s Play Store, though app store ratings demonstrate a superior user experience on iOS devices.
Android App Rating
	3.5
iOS App Rating
	4
Auto Trading
Via 3rd party software	Yes
Copy Trading
Yes	No
Copy Trading Platform
Use the Top Traders leaderboard to follow experienced crypto investors. Mirror positions on Bitcoin, Ethereum and more for a small charge.
Social Trading
No	No
VPS Hosting
Yes	No
Tournaments
No	No
Demo Competitions
No	No
Ethical Investing
No	No
Custodial Account
No	No
Guaranteed Stop Loss
No	No
Inactivity Fee
$0	$5
Islamic Account
No	No
Account Currencies
EUR GBP TRY RUB	USD EUR GBP JPY TRY
Cryptocurrency
Buy dozens of crypto tokens with one click, or choose between hundreds of tokens to trade on spot markets, with more options than many alternatives. Crypto derivative products include perpetual futures and options.	Bitfinex provides access to an exceptional variety of crypto assets, encompassing over 180 tokens. In addition to spot trading, the platform supports perpetual swaps trading, enabling traders to engage in margin trading on crypto assets with leverage up to 1:10. With digital tokens frequently listed and delisted, Bitfinex provides diverse opportunities to participate in the dynamic cryptocurrency market.
Spread
Market maker, derivatives fee: 0.01%, spot fee: 0.1% Market taker: derivatives fee: 0.06%, spot fee: 0.1%	Taker (0.2% to 0.055%) and maker (0.1% to 0.0%)
Coins
BTC ETH EOS XRP USDT BCH LINK XTZU LUNA SRM TRX RUNE THETA STRM YFI WAVES DXPX ENS USDC ADA BEL BIC REN MKR LING CN98 CAKE CAPS BUSD BTT CBX CELO BTG BUSD KLAY BNB DOT AGLA AGLD LING DOME FIU FLOKI FITFI HOT ALGO FCD APEX AXS BAT ANKR BNT BOBA ALGO FIDA FL UNI AAVE SUSHI XEM APE ATOM AVAX DOGE ETC FTM LTC MATIC SAND SWEAT DLC AXS CHZ OP OKSE ZEN ZIL ZRX ACH ACM DYDX ELT FTT HERO NEXO MKR QMALL QNT REAL TRIBE INTER FAME REN ENS ELT ELJ DICE DRIV FLOKI FLOW GENE GMX IME KRL KOK NFT LWF KMON KASTA ICX CRAFT CWAR CTC CULT DEFY DFI DICE DRIV GSTS JST GODS IZI JASMY ERTHA COMP	BTC ETH USDT LTC XRP DOGE ETC EOS LINK BCHN DOT DASH IOTA SUSHI NEO ZEC UNI ADA OMG MDOGE BSV TRX XTZ SOL XLM YFI USDC ZRX FIL VET XMR COMP BTG DAI LUNA CEL ALGO ATOM EGLD FTT AVAX MKR LEO BTT CHZ BAT BAND QTUN CLO AAVE XDC HEZ KNC ZIL MANA BAL UOS
Crypto Lending
Yes	Yes
Crypto Mining
Yes	No
Crypto Staking
Yes	Yes
Auto Market Maker
No	No

Review	Review