BTCC vs ByBit in 2022: Is BTCC Superior to ByBit?
BTCC and Bybit are two excellent options to consider if you’re searching for a crypto exchange that offers both variety and simplicity. Both platforms offer an extensive selection of coins for trading on multiple exchanges. But which exchange is most advantageous for you? To assist you in making a decision, let’s compare BTCC with Bybit.
Bybit is a relatively young exchange that has quickly become one of the most popular venues for exchanging cryptocurrencies. Bybit’s user-friendly design is one of the reasons for its popularity. The platform is created with simplicity in mind, and even total novices will have no trouble navigating it. Bybit’s advanced features, which include margin trading, derivatives, and more, are an additional benefit.
Founded in June 2011, BTCC is a cryptocurrency exchange based in Europe. We are dedicated to making crypto trading reliable and accessible to everyone. As the world’s longest-running cryptocurrency exchange, BTCC has always put a strong emphasis on improving every aspect of trading, striving to create a fair trading atmosphere for all crypto lovers around the world. With the help of differentiation strategy, BTCC has steadily grown in markets with different customer groups, meeting the needs of all levels of investors from beginners to professionals. Our demo trading account as well as our daily, weekly, and perpetual futures suit the preferences and goals of different investors.
So, which exchange would you prefer? Let’s examine BTCC and Bybit in greater detail to find out.
BTCC vs Bybit : A Quick Comparison
| Exchange Features | BTCC | ByBit |
|---|---|---|
| Maximum Leverage | 150x | 100x |
| Listed Cryptocurrency | BTC, ETH, LTC, BCH, EOS, XRP, ADA, XLM, DASH | USD, AUD, EUR, GBP and many more |
| Withdrawal Fees | 0.0004 BTC | 0.0005 BTC |
| Supported Coins | 18 | 10 |
| Transaction Fees | Maker 0.1% / Taker 0.1% | Maker 0.025%/Taker 0.075% |
| Supported Deposit Methods | Wire, Credit Card, and Crypto | Credit Card and Crypto |
Here is a comprehensive comparison of BTCC and Bybit exchange. Both BTCC and Bybit provide an extensive selection of trading products and crypto derivatives. On both crypto exchanges, attractive leverage is also available.
However, Bybit only supports ten cryptocurrencies, compared to 18 supported on BTCC. Bybit offers up to 100x leverage on crypto derivatives, while BTCC offers leveraging up to 150x for futures.
Verdict: BTCC is the winner. It has the more listed coins and gives the highest leverage compared to Bybit.
BTCC vs Bybit Deposit and Withdrawal Fees and Methods
Neither BTCC nor Bybit impose a deposit fee. These are two exchanges that impose a minor withdrawal fee, which varies by coin. For instance, the minimum BTC withdrawal on Bybit is 0.001 BTC, while the withdrawal fee is 0.0005 BTC. While the minimum withdrawal amount on BTCC is 0.0015 BTC, the withdrawal fee is a flat 0.0004 BTC.
Bybit only accepts crypto for deposits, while BTCC accepts Wire transfers, credit cards, and crypto. Individuals can deposit funds to the BTCC platform via a variety of stated payment methods, including wire transfer, credit card (or debit card), and a few cryptocurrencies. It is uncommon for exchanges to offer the opportunity to directly deposit through crypto assets. Individuals must verify their accounts in order to make complete deposits.
Withdrawals are as straightforward and simple as deposits. For online bank withdrawals, there is a daily restriction of 100,000 or 500 when it comes to withdrawing Bitcoin. The US dollar is the major fiat currency for both deposits and withdrawals.
In addition, BTCC offers VIP transaction costs that lower futures transaction expenses. They are listed below:
Verdict:It’s a tie, given both the exchangers charge no deposit cost and a similar withdrawal fee. However, BTCC supports a wider variety of deposit methods than Bybit, giving it a modest advantage.
BTCC vs Bybit Platform Comparison
Both BTCC and Bybit have powerful trading platforms with all the essential features needed for seamless and informed trading. Let’s draw a head-to-head comparison between the trading platforms of the two exchanges.
Bybit Platform
Bybit has a cutting-edge futures platform with system functionality and an uptime of 99.99 percent. Additionally, it can process up to 100,000 transactions per second and manage volume spikes with ease.
Other features include a Mark and Index price mechanism to prevent unfair liquidation, liquidity depth to execute orders instantaneously, and robust system APIs to refresh market data often (20 ms).
Bybit’s trading platform features a user-friendly interface and supports all major order types. Professional traders can combine the top trading bot services using API keys.
Verdict: Both BTCC and Bybit have best-in-class trading platforms with state-of-the-art functionality. BTCC has the exemplary security standards and safety policies. Bybit has more robust APIs for algorithmic trading, making it ideal for experienced traders.
BTCC vs Bybit Customer Service
Customer support is one of the most important elements to consider when selecting a cryptocurrency trading exchange, especially for novices. You may encounter a variety of challenges with making deposits, withdrawing funds, and utilizing the platform. Fortunately, we have a winner. Let’s compare the two exchanges’ assistance services.
BTCC
Bybit
Bybit offers multilingual customer service that is available around-the-clock to handle your inquiries immediately. In addition, the Bybit platform has a live chat function through which you can communicate with a customer service representative. You can also write an email to [email protected] or send an Instagram message to @BybitTradinChat with your questions.
Conclusion: BTCC vs Bybit
Let’s modify this review of BTCC and Bybit by examining their pros and cons.
BTCC Pros:
- Maximum 150x leverage
- High liquidity and a constant order book
- Two-factor authentication is an available security measure that is optional.
- Competitively low transaction costs
- Over a decade of uninterrupted and secure operations
BTCC Cons:
- Limited advanced features to supported currency
- Greater centralisation than competing platforms
Bybit Pros:
- Up to 100x leverage with 24/7 multilingual assistance
- Superior order kinds
- Top three in terms of volume traded
- No KYC is necessary to begin
- Bybit Welcome benefit
Bybit Cons:
- Restricted to US merchants
- Unregulated Provides only four CFD products
Is BTCC superior to ByBit?
Both BTCC and Bybit are two of the most popular cryptocurrency exchanges in the market. Both offer a wide range of products to trade, leveraged tokens, and spot trading options. The trading fee, withdrawal charges of the two platforms are also comparable.
BTCC gets a slight edge regarding products offered and coins supported, whereas Bybit is slightly better at security and customer service. All in all, there’s no clear winner. However, both platforms are equally good with comparable features, and you can use one as an alternative to the other.
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