The world of crypto buying and selling is booming, drawing in tens of millions of traders and merchants globally. However for these simply beginning out, selecting the best buying and selling platform can really feel troublesome. With so many choices accessible, it’s essential to weigh all components like charges, safety, supported cash, options, and the way user-friendly the platform is.

On this information, we’ll evaluate two in style cryptocurrency exchanges Bybit vs MEXC primarily based on key buying and selling options, charges, and total buying and selling expertise that will help you resolve which platform fits your wants higher. 

Bybit vs MEXC: Comparability Desk

Bybit vs MEXC: Options

Bybit Standout Options

1. Derivatives Trading: Bybit affords futures buying and selling with up to 100x leverage. This lets you commerce giant 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 offers choices buying and selling for Bitcoin and Ethereum, a uncommon characteristic for crypto exchanges. Choices allow you to hedge your trades or guess on price actions, making it a great tool for superior merchants. MEXC doesn’t help choices contracts.
3. Copy Trading: With copy buying and selling, you’ll be able to comply with and replicate the methods of skilled merchants. That is good for inexperienced persons who wish to be taught or earn passively by trusting specialists.
4. P2P Trading: Bybit’s P2P platform helps over 100 native fee strategies, together with native financial institution transfers and digital e-wallets. You possibly can commerce crypto immediately with others safely and at no further charges.
5. OTC Trading: The Over-The-Counter (OTC) desk helps customers commerce giant quantities of crypto privately. This ensures there’s no affect on market costs, which is helpful for institutional or high-net-worth merchants.
6. Crypto Loans: You possibly can borrow crypto by providing your property as collateral. That is helpful for getting funds with no need to promote your holdings at low costs.
7. Trading Bots: Bybit affords 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 allows you to earn passive rewards by locking your crypto. Versatile and glued staking choices mean you can select primarily based in your objectives. It additionally affords 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 permits you to purchase and promote digital collectibles and artwork. It helps varied NFT tasks, making it simple to discover the rising NFT market.

MEXC Standout Options

1. 200x Leverage Trading: MEXC affords up to 200x leverage on futures buying and selling, one of many highest amongst crypto exchanges. If we evaluate, Bybit affords 100x leverage, and Binance and Bitget additionally provide up to 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 shortly and ensures privateness for individuals who want to not share private particulars. Nonetheless, some options and withdrawal limits could require verification.
3. Zero-Payment Futures Trading (0% Maker): MEXC affords 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 speculate earlier than they turn into extensively accessible. It additionally affords frequent token airdrops, giving customers free crypto for collaborating in promotions or holding sure cash.
5. Low-Cap and New Coin Help: MEXC is understood for itemizing low-cap and newly launched cryptocurrencies. This makes it a go-to platform for merchants looking for early alternatives in area of interest tasks. Nonetheless, buying and selling lesser-known cash can carry larger dangers attributable to 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 charge construction, charging solely 0.05% for each makers and takers. 

MEXC ceaselessly hosts zero-fee buying and selling occasions, making it a favourite for these looking for the bottom buying and selling prices. It’s identified for providing a number of the most inexpensive charges within the crypto business, whereas Bybit turns into less expensive for merchants dealing with excessive buying and selling volumes.

Concerning futures buying and selling, MEXC offers an edge with a 0% charge for makers and simply 0.020% for takers. Comparatively, Bybit expenses 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 charge reductions and rewards, for VIP customers primarily based on their buying and selling quantity and account exercise.

Along with normal charges, Bybit and MEXC even have distinctive expenses. Bybit consists of funding charges for perpetual contracts, which depend upon market situations 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 expenses funding charges for futures contracts and offers reductions for high-frequency merchants.

Deposit and Withdrawal Charges

For deposit charges, each platforms are on par. Neither Bybit nor MEXC expenses charges for crypto deposits. Nonetheless, when you deposit fiat foreign money, chances are you’ll incur charges relying on the fee methodology. 

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

Withdrawal charges are one other essential issue. Once more, MEXC usually has decrease withdrawal charges in comparison with Bybit. For example, withdrawing Bitcoin from MEXC prices 0.00003 BTC, whereas the identical transaction on Bybit prices 0.00005 BTC. Whereas the distinction could seem small, it could add up for frequent merchants. 

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

Winner: MEXC affords decrease charges for each spot buying and selling and futures buying and selling (0.05% vs. 0.1%), together with extra inexpensive withdrawal prices for crypto community transactions.

Bybit vs MEXC: Supported Cryptocurrencies

Bybit affords over 1,200 cash and greater than 1,600 buying and selling pairs, specializing in in style crypto property alongside rising tokens. This makes it appropriate for merchants in search of a mixture of main and mid-tier cryptocurrencies. 

However, MEXC leads with help for greater than 2,772 cash and over 3,101 buying and selling pairs. This makes it one of many platforms with the very best coin availability within the business.

MEXC additionally ceaselessly lists new and trending tokens sooner than many rivals. That is finest for merchants curious about area of interest or newly launched tasks. Each platforms help main cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), however MEXC offers higher entry to lesser-known tokens and experimental tasks. This makes it a beautiful possibility for altcoin traders.

Winner: MEXC affords extra digital property 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 sturdy 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 methodology throughout logins and withdrawals. You possibly can both use SMS-based 2FA or Google Authenticator.
• Anti-Phishing Code: You possibly can set a singular anti-phishing code to make sure that official emails from each crypto exchanges are simply identifiable. This measure helps scale back phishing makes an attempt and fraud.
• Withdrawal Deal with 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 property, showcasing sturdy reserves in accordance with DeFiLlama. MEXC, as 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 methodology has been efficient, as neither platform has reported any hacking incidents.

In accordance with 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. However, Bybit performs barely higher with a security rating of 85.58 and an A score, putting it among the many prime 6 most secure crypto exchanges. 

These scores replicate the general safety practices, together with measures like two-factor authentication, chilly storage, and their response to safety incidents.

By way of laws, Bybit holds a transparent benefit. It operates below 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. 

However, MEXC isn’t regulated by any main monetary authority, which can concern customers who prioritize compliance and oversight.

Bybit vs MEXC: KYC Requirement

MEXC and Bybit have completely different approaches in the case of KYC (Know Your Buyer) necessities. 

Bybit requires customers to finish sure ranges of verification to unlock larger withdrawal limits and entry particular options. It has two foremost KYC ranges: Stage 1 and Stage 2. 

• For Stage 1, customers want to offer identification paperwork and endure facial recognition. Finishing this permits a each day withdrawal restrict of up to 1 million USDT with no cap on month-to-month withdrawals. 
• Stage 2 verification provides proof of residence, growing the each day withdrawal restrict to 2 million USDT whereas nonetheless sustaining no month-to-month restrict. You too can enhance your each day withdrawal limits by growing your VIP tier.

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

Nonetheless, if customers select to confirm their identification, larger limits can be found. Fundamental KYC includes submitting private particulars and an ID and elevating the withdrawal cap to 80 BTC each day. Superior verification provides facial recognition and will increase the each day restrict to 200 BTC, whereas institutional verification, which requires enterprise paperwork, permits withdrawals of up to 400 BTC each day.

Winner: MEXC is finest for individuals who worth privateness and like buying and selling with out verification, whereas Bybit caters to customers who prioritize larger limits and a extra regulated expertise.

Bybit vs MEXC: Deposits & Withdrawal strategies

Bybit offers a broader vary of fiat choices. It helps deposits in over 60 fiat currencies and permits P2P transactions with greater than 100 native fee strategies. 

To purchase crypto immediately, in style deposit strategies embrace 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 possibly can fund your account by strategies akin to credit score/debit playing cards (Visa and Mastercard), SWIFT transfers, peer-to-peer (P2P) buying and selling with native fee strategies (like UPI and GPay), and third-party platforms like Banxa, Simplex, and Mercuryo. Plus, MEXC affords its Mastercard for funds. Nonetheless, it doesn’t help 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 affords a variety of fee strategies.

Bybit vs MEXC: Trading Quantity and Liquidity

In accordance with CoinMarketCap, Bybit ranks 2nd in total 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 sturdy market depth and environment friendly order execution. MEXC, with a spot buying and selling quantity of $4.5 billion, achieves a barely larger liquidity rating of 687. Each exchanges are good for crypto day buying and selling.

Nonetheless, MEXC’s giant variety of supported cryptocurrencies dilutes its liquidity, significantly in low-cap altcoins, the place buying and selling exercise is much less concentrated. Each platforms keep excessive liquidity for in style tokens, however Bybit’s fewer but extra concentrated choices guarantee stronger liquidity throughout its listed markets.

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

Bybit vs MEXC: Consumer Expertise and Buyer Help

Throughout our Bybit vs MEXC comparability, we discovered that Bybit affords a greater person expertise than MEXC attributable to its clear design and easy efficiency. Considered one of 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 instances. Its cell app is simply as easy, 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 generally lags, particularly when buying and selling exercise is excessive. This may be irritating when you’re attempting to execute trades shortly.

Each exchanges present 24/7 buyer help through dwell chat and e mail. Bybit, nonetheless, delivers faster response instances and extra in-depth options, together with a well-organized assist heart that options tutorials and FAQs to help merchants in any respect ranges.

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

Ultimate 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 up to 100x leverage, choices buying and selling, and a easy person interface. It’s splendid for skilled merchants in search of a dependable platform with sturdy safety measures. 

MEXC offers a wide array of low-cap and new cash, larger leverage of up to 200x, and zero-fee futures buying and selling, making it good for merchants trying to discover early-stage cryptocurrencies. Nonetheless, Bybit has a extra polished person expertise and higher buyer help. Each exchanges have sturdy safety, however MEXC affords 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 accordance with Certik, a number one blockchain safety agency, MEXC has a security rating of 81.82 and an “A” score. It additionally offers entry to many new and low-cap cash, making it a preferred alternative for early adopters.

Are Bybit and MEXC accessible within the US?

Each Bybit and MEXC should not totally accessible in the USA attributable to regulatory restrictions. Bybit particularly prohibits US residents from utilizing its platform, however some customers entry it through 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 in style globally and provide intensive options for non-US clients.

Is Bybit higher than MEXC?

Bybit excels in derivatives, providing up to 100x leverage, and has options like choices buying and selling, copy buying and selling, and a easy person expertise. It additionally helps over 60 fiat currencies for deposits. 

MEXC shines in its help for low-cap and new cryptocurrencies. It additionally affords excessive leverage (200x) and 0 maker charges in futures buying and selling. Bybit is best for superior buying and selling instruments and a cultured interface, whereas MEXC is right 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 can also make deposits or commerce. Nonetheless, you’ll be able to nonetheless withdraw up to twenty,000 USDT per day with out KYC. 

MEXC permits customers to commerce and withdraw up to 10 BTC each day with out finishing KYC. This makes MEXC extra accessible for customers preferring to not share private particulars.