Bybit and Binance, two giants in the cryptocurrency investment sector, offer distinct perspectives and functionalities. But which one is truly the best for your crypto trading needs? This article provides a detailed comparison of these platforms across key aspects: variety of cryptocurrencies, types of assets, derivative products, and more, to help you make an informed decision.
Regulatory Compliance: Binance vs Bybit
When choosing a crypto trading platform, regulatory compliance is essential, especially for users based in France and Europe. Here’s a detailed comparison of the regulatory statuses of Binance and Bybit.
Binance: Strengthened Compliance in Europe
Binance has made significant efforts in recent years to comply with local regulations in multiple countries, including France. The exchange is registered as a PSAN (Digital Asset Service Provider) with the French Financial Markets Authority (AMF) since May 2022.
➡️ What this means for French users:
- Binance adheres to anti-money laundering (AML) and Know Your Customer (KYC) requirements.
- Users benefit from a secure regulatory framework, reducing risks of sudden bans or fund-related issues.
- Binance can legally offer its services in France and other European countries under this certification.
Bybit: An Unregulated Platform Retreating from the French Market
Bybit has never obtained regulatory authorization in France. Since October 2023, the platform has stopped accepting new French clients and will cease all services in France by January 8, 2025.
Why Is Bybit Struggling in France?
- Bybit is blacklisted by the AMF for offering highly speculative products (e.g., 100x leverage, derivatives) that are strictly regulated in Europe.
- The exchange failed to obtain PSAN certification, making it incompatible with French legislation.
- Its withdrawal from the French market prevents new users based in France from creating accounts or depositing funds.
If you reside in France, Binance is the only viable option between the two, as it ensures better user protection under European law.
Assets Offered: Bybit vs Binance
| Criteria | Binance | Bybit |
|---|---|---|
| Number of Cryptos | 500+ | 900+ |
| Asset Types | Cryptos, stablecoins, NFTs, stock tokens | Cryptos, stablecoins, NFTs |
| Sectors Covered | DeFi, gaming, metaverse, AI, stocks | Gaming, NFTs, AI |
| Regular Additions | Yes | Yes |
| Derivative Products | Futures (no leverage), options | Futures (100x leverage) |
| Tokenized Products | Yes (stock tokens) | No |
| Target Audience | All profiles | Experienced traders |
Binance: Diverse and Consistent Offerings
Binance offers an impressive selection of 500+ cryptocurrencies, including major projects like Bitcoin (BTC), Ethereum (ETH), and top stablecoins (USDT, USDC). The exchange also regularly adds new cryptos, providing access to emerging projects in DeFi, memecoins, and AI.
Beyond cryptos, Binance provides tokenized products, such as stock tokens and innovative derivatives, catering to long-term investors and active traders alike.
Bybit: Massive Offerings Geared Toward Advanced Trading
Bybit boasts 900+ listed cryptocurrencies, far exceeding Binance’s count. This includes niche projects in gaming (e.g., Sandbox) and NFTs (e.g., Apecoin). However, Bybit focuses on advanced trading, offering futures contracts with up to 100x leverage, which suits experienced traders but poses risks for beginners.
⚠️ Warning: Leverage amplifies potential gains and losses, risking total liquidation of invested capital. Beginners should thoroughly research before using such tools.
Fees: Binance or Bybit?
| Fee Category | Binance | Bybit |
|---|---|---|
| Card Deposit Fee | 1.8% | 1.8% |
| Bank Transfer Fee | €1 (SEPA) | 0.19% |
| Fiat Withdrawal Fee | €1 (SEPA) | €1 (SEPA) |
| BTC Withdrawal Fee | 0.0002 BTC | 0.0005 BTC |
| ETH Withdrawal Fee | 0.0019 ETH | 0.001 ETH |
| Spot Trading (Maker) | 0.10% (reducible to 0.09% with BNB) | 0.10% (reducible to 0.08%) |
| Futures Trading (Maker) | 0.02% | 0.04% (reducible to 0.018%) |
Key Takeaways:
- Binance has lower BTC/ETH withdrawal fees.
- Bybit offers cheaper bank transfers (0.19% vs. €1).
- Spot trading fees are comparable, but Bybit becomes cheaper for VIP users.
Deposit Methods: Binance or Bybit?
Binance: Flexible and Accessible
- Bank transfers (SEPA): Low-cost deposits (€1 fee).
- Credit/debit cards: Fees range from 1.8%–3.5%.
- P2P trading: Free for buyers, with multiple local payment options.
- Crypto deposits: Free (network fees may apply).
Bybit: Limited but Functional
- Crypto deposits: Free (network fees apply).
- Fiat purchases: Third-party partners charge 2%–4% fees. No SEPA or P2P options.
Mobile Apps: Bybit or Binance?
Binance (4.5/5 on Google Play, 4.6/5 on App Store)
- Lite Mode: Simplified interface for beginners.
- Pro Mode: Advanced tools (spot/futures trading, staking, NFTs).
- Unique features: Binance Pay, full account management.
Bybit (4.7/5 on Google Play, 4.6/5 on App Store)
- Customizable interface: Advanced charts, order book integration.
- Copy trading/bots: Tailored for experienced traders.
- No Lite Mode: Less beginner-friendly.
Customer Support: Binance vs Bybit
| Criteria | Binance | Bybit |
|---|---|---|
| Response Time | Slow (chatbot/human advisors) | Very slow |
| User Feedback | Mixed (efficient but delayed) | Largely negative (ineffective) |
Binance offers a slightly better-organized support system, while Bybit lags behind with frequent complaints.
User Reviews: Binance or Bybit?
| Criteria | Binance | Bybit |
|---|---|---|
| TrustPilot Rating | 2/5 | 1.8/5 |
| Pros | User-friendly, diverse assets | Smooth app, asset variety |
| Cons | Slow support, occasional bugs | Poor support, complex deposits |
Binance is perceived as more reliable despite flaws, while Bybit struggles with negative feedback.
👉 Explore Binance’s advanced features
👉 Discover Bybit’s trading tools
FAQ
1. Which exchange is better for beginners?
Binance’s Lite Mode and educational resources make it more beginner-friendly than Bybit.
2. Does Bybit offer lower fees than Binance?
Bybit can be cheaper for VIP users and bank transfers, but Binance generally has lower withdrawal fees.
3. Is Bybit legal in Europe?
Bybit is exiting the French market in 2025 due to regulatory non-compliance. Binance remains a safer choice for EU users.
4. Which platform has better customer support?
Neither excels, but Binance’s support is slightly more organized.
5. Can I trade NFTs on Binance and Bybit?
Yes, both platforms support NFT trading, but Binance offers a broader ecosystem.
6. Which exchange has more cryptocurrencies?
Bybit lists 900+ cryptos vs. Binance’s 500+, but Binance provides more tokenized assets.
Final Verdict:
- For beginners/European users: Binance (regulatory compliance, Lite Mode).
- For advanced traders: Bybit (higher leverage, niche assets).
Choose based on your priorities—security (Binance) or advanced tools (Bybit).