Binance vs. Bybit Exchange Compare | Which Exchange is Better?

Binance vs. Bybit Exchange Compare | Which is Better, Which Crypto Exchange Is Right for You?

What is Bybit?

Bybit is a cryptocurrency derivatives exchange with a wide range of advanced trading tools. It has top-notch security and a no-down-time commitment, but it's not available in the U.S. Read our full Bybit review to find out if it's right for you.

• Up to 100x leverage on crypto

You can trade cryptocurrencies on Bybit at up to 100x leverage. This means you could trade a position of $10,000 from a $100 investment. Experienced traders can make high profits from leveraged trading as it magnifies the potential trading rewards. But it also magnifies the risk.

Users can go long or short on the 15 available currencies (bet on the price rising or falling, respectively). Bybit offers a range of advanced trading options.

• Technology and tools set it apart

Bybit says it can handle 100,000 transactions per second, which is significantly faster than its competitors. It does everything possible to avoid any server downtime, a problem a number of exchanges face whenever a change in the market pushes a lot of people to trade at once.

Its charting tools are popular with traders as they have a lot of functionality and extra features. You can also download data in various formats.

• Risk-free testnet environment

Bybit has a testnet site where new traders can test strategies and learn how to use the site without using real money. If you're new to derivatives, it's a way to get used to these advanced -- and sometimes complex -- tools.

Since leveraged trading can be extremely risky, it makes sense to gain confidence in the test environment before risking your hard-earned cash. If you decide to trade for real, start small and make sure you understand how to minimize risk.

• Educational resources

Bybit has an impressive selection of resources, news, and insights for traders of all levels. For example, "Bybit Learn" explains how to use technical tools and understand chart patterns. It teaches users about decentralized finance (DeFi) and has detailed analysis of individual coins. Plus, Bybit hosts classes on social media twice a week.

That's a good thing, since futures and margins are advanced financial tools and you'll need to have a sound understanding before you use them.

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This cryptocurrency derivatives exchange is a good fit for: Non-U.S. cryptocurrency traders who want to use margin and other derivatives.

Pros

• Up to 100x leverage on crypto
• Advanced tools supported by great technology
• Risk-free test environment to learn and experiment
• Educational resources

Cons

• Not available in the U.S.
• Crypto derivatives are extremely risky
• Not suited to spot trading
• May share your data with third parties for marketing

What is Binance?

Binance Exchange is one of the top cryptocurrency exchanges in the world and offers users the most cryptocurrency trading pairs of any trusted exchange, resulting in Binance having the highest trading volume of any crypto exchange.

Founded in 2017 by Changpeng Zhao, Binance quickly became a leading cryptocurrency exchange and has its own crypto called Binance Coin (BNB). Binance offers users ways to purchase crypto assets directly using fiat currencies, credit/debit cards, and bank transfers. Binance can be accessed through its website, desktop, or mobile app.

• Easy sign-up process
• Lowest transaction fees of any major exchange
• 175+ different digital assets available
• Free deposits

FUNDING METHODS: Debit & Credit Card, Wire Transfer, ACH

CRYPTOCURRENCIES: 175+

COUNTRIES: 100+

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Pros

• Up to 100x leverage on crypto
• Hundreds of trading pairs and available cryptocurrencies
• Low trading fees
• Buy crypto through multiple avenues
• Mobile app
• Users can earn up to 10% APY on their holdings

Cons

• Not available to US citizens
• High withdrawal fees to external wallets
• Can be overwhelming for new crypto users

Here’s an in-depth comparison between Binance and Bybit. 

1. Trading Conditions

Before you sign up on either exchange, allow us to lay the two platforms bare in front of you . This requires us to take a look at the trading conditions offered by both Binance and ByBit.

Under Binance, $1 is required as your minimum deposit. The leverage it offers on futures stands at a ratio of 1:100. You can trade on 1,358 markets. USD is not the only base account currency. Trader can base their accounts in Euros, Pounds and over 50 other crypto currencies

With ByBit, you will also need to make a minimum deposit of $1. Like Binance, the leverage it offers is at 1:100. ByBit also allows its users to trade up to 257 markets around the world. The platform offers base account currencies only in crypto.

2. Beginner Friendliness

Binance is more beginner friendly than Bybit for beginners, though Bybit has somewhat copied the layout of Binance’s platform and is somewhat similar to navigate. That said, Binance has many more crypto pairs for users to choose from than Bybit, and has more user-friendly buy and sell options, making it a more attractive option for a beginner.

Neither platform is entirely beginner friendly though and both are more suited to traders with at least some experience.

3. Standout Features

Both Binance and Bybit have a number of compelling features that might draw you to their platforms. Here’s a look at a few of the standouts:

4. Available Cryptocurrencies

Bybit offers a wide selection of cryptocurrencies, with just under 100 available for trade, but Binance is far and away the better option, with over 175 available, and a ton more trading pair options than Bybit has. Binance also has a wider selection of assets available for derivatives than Bybit does.

5. Sign-Up Process

The sign-up process for Bybit and Binance is almost identical because neither requires users to do identity verification if they just wish to deposit and begin trading their previously owned crypto assets.

They both require you to do identity verification once you want to purchase digital assets with your fiat option of choice through one of their fiat gateway partners. There are now some location for which Binance automatically requires full identity verification.

6. Fees

To make your decision a lot easier, we’ve compared the two exchange platforms down to the prices they come at. You’ll be pleased to know that trading fees are low with Binance.

The max maker and max takers fees offered by both Binance and ByBit come to 0.1%. Binance’s min maker fee is far lower than ByBit’s. ByBit offers 0.1% while Binance offers a mere 0.012% charge. For a detailed comparison of the two fees, consider the table below.

Futures Trading Fees:

Both exchanges allow users to trade futures. This is one of their many similarities. However, Binance’s futures trading fees prove to be slightly better than ByBit’s. Have a look at the table below for a detailed comparison of the two.

Non-Trading Fees:

Binance continues to offer lower fees than ByBit, even for non-trading transactions. That is not to say that ByBit has extortionary prices either. To put what we mean into context, we’re put together a helpful table guide related to both platform’s non-trading fees.

7. Passive Income Tools

In terms of ways to earn passive income on these platforms they are both evenly matched. Both offer staking and mining pool opportunities. However, managed accounts, MAM/PAMM and other passive income methods are not offered by both.

If passive income methods will determine which exchange you pick over the other, you’ll find that they are evenly matched. Consider the comparison table below.

8. Deposit and Withdrawal

If you’re considering ways to access your money, Binance offers better help than ByBit, but only one. That is, Binance allows traders to access their money or make withdrawals via bank transfer.

For a detailed comparison of how Binance or ByBit allows their traders to access funds and make deposits, consider the tables below.

Deposit:

Withdrawal:

9. Best Trading Platform

The support given by one platform cannot match the other. If you’re looking for the best platform in regards to accessibility, that crown goes to Binance. Unlike ByBit, Binance was a fully supportive ecosystem of platforms. Traders can log onto Binance via web desktop browser and mobile. Better yet, it is available on both Android and iOS.

In contrast to this, ByBit only offers users the access via mobile web apps. This hasn’t limited its growing adoption, though. ByBit remains available on both Android and iOS.

A look at trader support reveals that both platforms are excellent choices, with neither one trumping the other. Both Binance and ByBit allow traders to access market indicators, drawing tools, historical trades and live quotes.

 Features:

Technical Analysis/Charting Tools:

Mobile Trading:

Types of Orders:

10. Research

11. Education

12. Support

Conclusion 

Binance and ByBit are two popular cryptocurrency exchanges. Each of them has its pros and cons. Binance will be the best choice for traders who want to trade any cryptocurrencies, including those with low popularity. ByBit is a good fit for traders who prefer derivatives trading and who would be fine with a smaller selection of cryptocurrencies.

Read more: Best Cryptocurrency Centralized Exchanges | Top Crypto Exchanges

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What is Houbi Exchange | Instructions for Using and Registering?

In this post, you'll learn What is Houbi Exchange | Instructions for Using and Registering Houbi Exchange? (update 2022)

Huobi is one of the biggest names from China in the trading platform. With a 24-hour trading volume that is always in the top 10, Huobi is a name many people consider when they want to participate in cryptocurrency trading.

So what is Huobi exchange? What are the advantages and disadvantages of Huobi compared to other names? Today's article will answer the above questions, as well as guide to using Huobi floor.

1. What is Huobi?

Huobi is one of the largest cryptocurrency exchanges in China by trading volume. Huobi is headquartered in the Seychelles, and currently has offices in Hong Kong, South Korea, Japan and the United States.

Huobi is also one of the oldest exchanges when it was established in 2013.

Advantage

• Has a lot of experience in operating an exchange.
• Has high liquidity.
• Has released Huobi Token (HT): Like other exchanges, Huobi.com also follows the trend of issuing its own coin.
• As an extremely potential exchange, quickly developing the functions of Margin, Option, OTC, Futures,...
• Developed trading apps on iOS and Android.
• Support Sub-account, so you don't need to create multiple accounts to manage.
• Multi-language support.

Defect

The transaction fee is quite high: 0.2%. However, if you use Huobi Token, you can reduce the transaction fee depending on the amount of HT

2. Fees on Huobi . exchange

Transaction fee

If you are a regular user, the fee will be 0.2%. However, if you have a large transaction volume, as well as own a large amount of HT, you will receive a reduced transaction fee.

Deposit fee

Similar to other exchanges, you will not have to pay any fees when sending money. But withdrawing will incur a fee, which is a fee incurred by conducting transactions on the Blockchain. Therefore, depending on the network will be charged differently.

Other fees

Huobi also has fees associated with borrowing, or holding, when playing derivatives.

3. How to Register and Login Account in Huobi

3.1. How to Register a Huobi Account【PC】

To register a new Huobi account follow this step-by-step guide:

Step 1) Click the “Sign Up” button in the top right-hand side of the website as below or click the link https://www.huobi.com/

Step 2) Register for a Huobi account using your mobile phone or email address

Step 3) Fill in the fields as below

• Please choose Nationality correctly as it cannot be revised after registration
• Input your Phone number or Email address
• Password must be 8-20 characters with at least 1 letter. It cannot be only numbers

Example of a valid password: h8b21xs5ea

• Optional – Key in any referral/invitation code that may have been given to you by your referrer
• Agree to the Huobi User Agreement Privacy Policy and click "Sign Up".

3.2. How to Register a Huobi Account【APP】

Step 1: Open Huobi mobile app and click on the top-left icon.

Then click on "LOG IN" to go to the log-in page.

Step 2: When you are at the log-in page, you will see "Sign up" on the top right corner of the screen. Click on it to start registration.

Step 3: Choose your preferred registration method - phone number or email.

(1) Register with phone number
Click on "Phone" to switch to the phone registration page. Input the required information (Country, Phone Number) in the corresponding boxes. Click on "Send verification code". A text message with a verification code will be sent to the provided phone number immediately.

Once you get the code, enter it.

Enter the password for your Huobi account and click "Done".

Congratulations your registration has been successful!

(2) Register with email
Click on "Email" to go to the email registration page (if you are not at this page already). Input the required information (Country, Email) in the corresponding boxes. Click on "Send verification code". An email with a verification code will be sent to the provided email address immediately.

Once you get the code, enter it.

Enter the password for your Huobi account and click "Done".

Congratulations your registration has been successful!

REGISTER HUOBI ACCOUNTOpen Demo Account

3.3. Create and setup Huobi Futures Sub-account

Huobi Futures sub-accounts function is live now! All users can create 200 sub-accounts(200 for futures and 200 for perpetual swaps) at most without account balance requirement. With this function, the master account can set permissions for sub-accounts and query sub-accounts assets.

Please log in Huobi Futures website to open sub-accounts function.

Step 1. Master accounts must complete risk verification and get activated first. Please visit Huobi Futures official website (https://futures.huobi.be), log in your master account and click “Sub-account” from the drop-down box on the top right of web page.

Step 2. Please click “Sub-account management of Exchange” on “Sub-account” administration page.

Step 3. Go to the administration page of “Sub-account management of Exchange”. You can create sub-accounts, transfer assets from master account to sub-accounts and set login configuration here.

Notice: Only when sub-accounts’ login configuration is set successfully and passwords are created, can they be logged on website and APP.

Step 4. After creating sub-accounts, you can click “open” to open sub-accounts’ futures / perpetual swaps transaction service on the administration page. You can also change permissions, transfer assets and check balance here.


Notice:

1. Sub-accounts cannot start to trade futures / perpetual swaps directly before activating the service via master account first.
2. Users can only change sub-accounts’ passwords, unbound GA via master account.
3. The master account can create and edit the API of sub-accounts while the sub-accounts have no authority.
4. Sub-accounts will automatically share the same preferential fee rates, position limit and API rate limit of coin-margined futures, coin-margined swaps, USDT-margined swaps and options as the corresponding main account when being opened.
5. If users use both master account and its sub-accounts to participate in Huobi Futures giveaway or other activities, the results will be counted on the whole performance of the master account and its sub-accounts. Awards would be deposited to the master account. Please note that sub-accounts cannot participate activities alone without master account.

3.4. How to Install Huobi APP on Mobile Devices (iOS/Android)

For iOS devices

*Note: Please scan the QR code and open the website via browser/Safari to download/upgrade Huobi APP or follow the steps below.

Step 1: Open "App Store".

Step 2: Input "Huobi" in the search box and search.

Step 3: Click on the "GET" button of the official Huobi app.

Step 4: Wait patiently for the downloading to complete.

You can click "Open" or you can click the Huobi app on the home screen as soon as the installation is completed.

Step 5: Click "Get Started" to start your journey to cryptocurrency!

Sign up form.

For Android devices

*Note: Please scan the QR code and open the website via browser/Safari to download/upgrade Huobi APP or follow the steps below.

Step 1: Open "Google Play Store", input "Huobi" in the search box and search

Step 2: Click on "Install" and wait for the download to complete.

Step 3: After the installation is completed, click on "Open".

Step 4: Click "Get Started" to start your journey to cryptocurrency!

Sign up form.


 

REGISTER HUOBI ACCOUNTOpen Demo Account

4. How to Login to Huobi

4.1. How to Login Huobi account【PC】

1. Go to mobile Huobi App or Website.
2. Click on “Log In” in the upper right corner.
3. Enter your "Email" or "Phone number".
4. Click on “Log In” button.
5. If you forgot password, click on “Forgot Password?”.

On the Log in page, enter your [Email] or [Phone number], and password that you specified during registration. Click "Log In" button.

After that you have to slide to verify.

A message with a verification code will be sent to the provided phone number or email address immediately. Enter it.

Now you are able to start trading!

How to Login Huobi account【APP】

Open the Huobi App you downloaded, click on the profile icon in the upper left corner.

Then click on "LOG IN" to go to the log-in page.

On the Log in page, enter your email address or phone number, and password that you specified during registration. Click "Log In" button.

Then you also have to slide to verify.

Now you are able to start trading!

4.2. How to Login Huobi using Google?

1. For authorization through your Google account, you need to click on Google button.

2. Then, in the new window that opens, enter your phone number or email and click “Next”. After you enter this login and click «Next», the system will open a window. You will be asked for the password for your google account.

3. Then enter the password for your Google account and click “Next”.

After that, follow the instructions sent from the service to your email address. You will be taken to your personal Huobi account.

4.3. How to Login Huobi using Apple?

1. You can also log in to the website using your Apple ID by clicking on the Apple button.

2. Then, in the new window that opens, enter your Apple ID and click “Next” icon.

3. Then enter the password for your Apple account and click “Next” icon.

After that, follow the instructions sent from the service. You will be taken to your personal Huobi account.

 

Forgot Password on Huobi

Web【PC】

If you forget your login password when you are trying to log in, please do as follows:

Click on "Forgot password?" on the login window.

Decide if you want to reset your login password by email address or phone number

Then you have to slide to verify.

An email has been sent to your email address, Please check your spam folder if you did not get the email in the inbox for a long time.

Enter the verification Code.

Input the password twice here and click "Submit"

Then your password has been reset successfully. Please use the new password to log in to your account.


Mobile Device【APP】

Click on "Forgot password?" on the login page.

Decide if you want to reset your login password by email or by phone number. Then you just need to follow the instructions to complete the reset.

Originally published on: huobitrading 

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