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Bybit is a respected crypto exchange with a good selection of features, competitive fees, and many digital assets. However, some traders or investors would prefer a platform with more cryptocurrencies, lower prices, or specific features not available on Bybit. Therefore, we've created this guide breaking down and reviewing the best alternatives to Bybit on the market right now.
Here's a quick overview of the best Bybit alternatives to consider:
- Binance - Best overall Bybit alternative
- Kraken - Best alternative for US traders
- KuCoin - Good alternative for altcoin traders
- MEXC - Alternative with the cheapest fees
- PrimeXBT - Best for trading multiple assets
- OKX - Best Bybit alternative for trading bots
- Bitget - Better alternative for passive crypto earnings
List of the Top Bybit Alternatives Compared
To help our readers better understand how each Bybit alternative cryptocurrency trading platform stacks up against one another, we've included a comparative table highlighting key information about each platform.
|Exchange||Crypto Assets||Trading Fees||Rating||Promotion||Website||Review|
|385||0.1% (spot) and 0.02% / 0.04% (Futures)|
|Up to $100 welcome bonus||Visit Binance||Binance Review|
|222||0.16% (maker) and 0.26% (taker)|
|None available at this time||Visit Kraken||Kraken Review|
|Up to 500 USDT in bonuses||Visit KuCoin||KuCoin Review|
MEXC Global Exchange
|1521||Spot: 0% (maker) / 0.2% (taker), Futures: 0.02% (maker) / 0.06% (taker)|
|10% discount on trading fees||Visit MEXC Globa...||MEXC Global Exchange Review|
|None available at this time||Visit Prime XBT||Prime XBT Review|
|349||0.08% (maker) / 0.10% (taker)|
|None available at this time||Visit OKX||OKX Review|
|100+||Spot: 0.1%, Futures: (0.02% maker & 0.06% taker)|
|None available at this time||Visit Bitget||Bitget Review|
List of the Top Alternatives to Bybit: 2023 Reviews
1. Binance - Overall Best Bybit Alternative
Why we picked it
We selected Binance as our number one alternative to Bybit due to its larger selection of trading pairs, more active user base, and its wider range of earn/staking products. There's a reason why Binance is the most popular crypto exchange on the planet. It's an excellent all-around exchange with competitive fees and an impressive feature set that will appeal to traders of all preferences.
- A greater quantity of trading pairs
- Lower fees (with BNB reduction)
- More staking products
- A larger selection of features
- Fewer unique cryptocurrencies
Although Binance and Bybit share a similar design and a comparable set of features, Binance takes the edge regarding non-typical tools like an in-built Decentralized Exchange (DEX), a project incubator, a research platform, and a live blockchain broadcast streaming system. Although these services won't appeal to everyone, it makes Binance substantially more versatile compared to Bybit.
For active traders who aim to find promising opportunities daily, Binance is far superior to Bybit. Although Bybit offers more unique coins, Binance offers 1,709 trading pairs, and Bybit offers just 595. Furthermore, Binance offers far more altcoin-denominated pairs like TRX/XRP and SHIB/DOGE. As such, it's far easier to find profitable traders on Binance, making it the ideal platform for professional traders.
Another benefit of trading and investing with Binance instead of Bybit is having access to a far greater range of staking and earning products. While Bybit offers basic services like its savings and ETH 2.0 products, Binance offers a more exotic range of products, like Decentralized Finance (DeFi) staking, liquidity farming, and range-bound staking, helping users to earn during a sideways market.
There is also a noticeable difference in the trading costs between each cryptocurrency exchange. Although spot fees are the same for both platforms (0.1% per transaction), Binance offers a 25% discount when paying fees using BNB. Furthermore, Bybit charges 0.06% (taker) and 0.01% (maker) for futures trading, while Binance is more well-rounded at 0.04% and 0.02%, respectively.
All in all, it's clear to see why Binance is the more popular trading platform. The cryptocurrency exchange offers a larger set of features, making it appeal to more users. Additionally, with Binance offering a substantial fee reduction when using its native token, the exchange platform provides greater value for money, helping users keep a larger portion of their profits than Bybit.
2. Kraken - Best option for US traders
Why we picked it
Unfortunately, Bybit alienates millions of crypto investors and traders as the digital asset trading platform is unavailable in the United States. However, Kraken has been allowed to operate in the region, with only a few cryptocurrencies like XRP missing from its supported assets. Therefore, Kraken is an excellent option for US residents looking for a secure trading platform or an alternative to Coinbase.
- Available in the United States unlike Bybit
- Basic and advanced trading platform
- TradingView integration
- Expensive trading fees compared to Bybit
- Not as many assets to trade as Bybit
Kraken is divided into a basic platform with an in-built crypto wallet and fiat-to-crypto support, and Kraken Pro which features an order-book-based trading interface, TradingView integration, and a range of Earn products, making it more akin to Bybit. Due to the crypto exchange being divided into two platforms, it's more suited to less experienced traders than Bybit.
While Kraken offers notably fewer assets than Bybit (229 vs. 401), the exchange also lets users trade 12 forex pairs, including GBP/USD, AUD/USD, and EUR/GBP. While unlikely to appeal to traders solely focused on the crypto market, Kraken could be an excellent option for professional traders looking for additional assets to trade when the crypto market generally looks unfavorable.
Although Kraken is available to US residents, the platform does have a few notable limitations. In addition to a selection of cryptocurrencies being unavailable to residents of the country, users can only access staking services outside of the US.
When comparing Kraken to Bybit, Kraken offers fewer assets, fewer features, and more expensive trading fees, which start at 0.16% (maker) and 0.26 (taker). As such, while the crypto exchange is one of the best alternatives to Bybit for traders and investors in the US, there are better choices than Kraken for international customers with easy access to Bybit.
Read our full Kraken review.
3. KuCoin - Best alternative for altcoin traders
Why we picked it
KuCoin is a world-renowned crypto exchange with millions of users worldwide. Despite offering a very similar amount of features to Bybit, KuCoin boasts more than double its number of assets, with smaller projects regularly added to the exchange, making it an excellent option for altcoin traders looking for a greater variety of coins to trade.
- Double the number of assets compared to Bybit
- Lower spot trading fees
- More passive earning products
- Worse futures trading fees than Bybit
- Also not available in the US
While Bybit offers just 401 unique cryptocurrencies, KuCoin boasts an outstanding 863 making it a better altcoin exchange. The story is similar regarding trading pairs, with KuCoin boasting 1,540 compared to Bybit's 595. However, Bybit offers 225 pairs for trading derivatives versus KuCoin's 188. Therefore, while KuCoin is a great alternative to Bybit for spot trading altcoins, those focused on leveraged trading may still prefer Bybit.
Outside of the larger quantity of assets offered by KuCoin, the trading platform also offers superior trading fees compared to Bybit. Like Binance's fee schedule, spot trading fees start at 0.1% but can be reduced to 0.08% by paying using KuCoin's proprietary token KCS. That said, trading futures contracts is around 50% more expensive, with KuCoin's fees priced at 0.02% (maker) and 0.06% (taker).
While both cryptocurrency exchanges offer trading tools like automated bots, a Peer-to-Peer (P2P) exchange, and conversion features, KuCoin enables users to earn additional money through cloud mining and lending their crypto holdings to others for interest. As such, while both platforms are on a similar footing when it comes to trading, KuCoin takes the edge regarding passive earning opportunities.
Overall, KuCoin is a well-rounded crypto exchange and a great alternative to Bybit, thanks to its lower spot fees (when paying with KCS), the substantially larger quantity of assets, and additional opportunities to boost users' crypto portfolios passively. However, Bybit has an edge when it comes to futures trading, so if users want to participate in leverage trading, Binance could be the best option.
4. MEXC - Alternative with the cheapest fees
Why we picked it
MEXC has been rapidly taking users away from more established cryptocurrency exchanges like Bybit due to it offering near-zero trading fees, a massive selection of crypto assets, higher leverage, and frequent trading competitions. So although the platform isn't as popular as Bybit, MEXC is undoubtedly worth considering for professional traders or novices wanting to maximize their earning potential.
- Has zero spot fees
- Huge selection of trading pairs
- High maximum leverage
- Slippage could occur on large trades as MEXC is less popular
Perhaps the most attractive aspect of MEXC is its trading fees. The company recently unveiled its 0% spot trading fees and 0% (maker) / 0.01% (taker) derivatives fees. Additionally, a further 10% discount is available for paying using the platform's native MX token. As such, by trading on MEXC rather than Bybit, traders could effectively boost their profits by up to 0.1% per trade, which could quickly add up.
On top of boasting some of the lowest fees in the industry, MEXC offers up to 200x leverage, compared to Bybit's 100x leverage on perpetual futures contracts. Combined with MEXC offering 74 additional derivatives pairs and 1,496 spot trading pairs and it's clear that the exchange is an excellent crypto leverage platform for active traders looking to move away from Bybit.
Another factor that incentivizes traders to switch from Bybit to MEXC is the frequently hosted futures trading competitions. MEXC lets users earn tokens to spin a wheel for every $75,000 in daily trading volume they accumulate, with prizes of up to $2023. Although the competition doesn't always run, when it does, it offers a nice bonus that could supplement users' trading income.
Although MEXC isn't as popular as Bybit, it's quickly taking traction away from the trading platform due to low fees, supported assets, and higher-than-average leverage. Its benefits make MEXC one of the best alternatives to Bybit for professional traders. Furthermore, as the exchange also offers copy and demo trading, it's equally as appealing to novice traders looking to grow their skills on a powerful crypto trading platform.
Read our full MEXC review.
5. PrimeXBT - Best for trading multiple assets
Why we picked it
PrimeXBT is not as crypto-focused as Bybit, but it's a great platform if traders are looking to trade cryptocurrency and several other asset classes on a single exchange. Additionally, PrimeXBT offers a margin trading exchange and a larger selection of trading pairs than Bybit, making it an excellent alternative to the more popular trading platform.
- High leverage limits like Bybit
- Support for multiple asset classes
- Regular "no-risk" trading competitions
- Less number of crypto trading pairs
- Can't view other users' orders
The main draw to PrimeXBT is its wide selection of asset classes. In addition to cryptocurrency, users can access the stock, forex, and commodity markets, substantially increasing the platform's versatility for day traders. As such, PrimeXBT could be the perfect option for anyone wishing to access several different markets while not being forced to pay expensive fees like those offered by eToro.
However, what PrimeXBT lacks in variety, it makes up for in leverage limits. Popular pairs like BTC/USD and ETH/USD have 200x leverage, while forex pairs have 1000x and CFDs up to 200x, great for taking advantage of small price movements.
In contrast to Bybit and most other crypto exchanges, PrimeXBT utilizes a solely proprietary trading engine and interface. However, users on the platform still have access to 50+ of the most popular crypto trading indicators, along with typical drawing tools like trend lines, pitchforks, and Fibonacci rays. However, PrimeXBT lacks an exchange-wide order book, making determining buyer sentiment difficult.
Another reason why PrimeXBT could be a superior alternative to Bybit for some users is its weekly trading competitions. The platform regularly hosts contests where users can trade using virtual money to win real prizes. Although rewards aren't massive, they're excellent for novice traders looking to improve their skills without spending real money while still having the possibility of turning a profit.
PrimeXBT is a lesser-known cryptocurrency exchange that could rival Bybit for active traders. The platform lets users access several asset classes, up to 1000x leverage, and a plethora of cryptocurrency tools for trading and analysis. As such, although PrimeXBT isn't suited well to solely crypto traders, the exchange is great for anyone looking to trade a mixed bag of assets or those looking for higher leverage than Bybit offers.
Read our full PrimeXBT review.
6. OKX - Best Bybit alternative for trading bots
Why we picked it
OKX is a popular cryptocurrency trading platform that many people have begun to use as an alternative to Bybit due to its more customizable crypto trading bots, lower spot fees, and larger selection of assets. Additionally, OKX offers an easy way to get involved with direct crypto options trading, making it far more accessible than Bybit's more complicated, experience-orientated system.
- More customizable trading bots
- Simple crypto options
- Low trading fees
- Fewer cryptos than Bybit
- Higher futures fees
While Bybit offers basic grid trading bots, OKX offers a far more customizable, fully automated trading bot system that anyone can use. Both exchanges feature a similar marketplace where investors can copy another user's bot, but OKX also provides arbitrage and slicing bots. Furthermore, OKX lets users customize their bots using TradingView signals, enabling a far greater level of complexity compared to Bybit.
Another reason why OKX has taken market share away from Bybit is its impressively low trading fees. OKX users are charged 0.08% (maker) and 0.1% (taker) for spot trades, effectively 20% cheaper than Bybit's flat 0.1% fee. Futures trading is more similar, with OKX charging 0.02% / 0.06% versus Bybit's more maker order-focused 0.01% and 0.06% charge.
For people looking to trade Bitcoin and a selection of altcoins on the same exchange platform, OKX boasts an impressive selection of 742 trading pairs - 146 more than Bybit. Additionally, OKX offers ETH, OKB, and DOT-denominated trading pairs, making the exchange a valuable altcoin trading platform, considering Bybit only denominates its pairs against BTC, USDT, USDC, DAI, and EUR.
Crypto options trading is quickly gaining popularity, but only a few platforms currently offer the service. Moreover, many exchanges, like Bybit, make trading crypto options confusing. However, OKX offers a simple options platform that drastically lowers the barrier to entry for this form of trading. Traders predict the price of BTC, and OKX will show them related options contracts, making it far easier than using Bybit's complex interface.
OKX is a great Bybit alternative for frequent traders thanks to its large selection of pairs, lower fees, and more simplistic options trading system. While the exchange has fewer unique cryptocurrencies than Bybit, its greater number of pairs means there are always plenty of profitable opportunities on OKX. Therefore, we recommend it to anyone looking for a powerful yet beginner-friendly alternative to Bybit.
Read our full OKX review.
7. Bitget - Bybit Alternative for Passive Growth
Why we picked it
Bitget has risen through the ranks as an alternative to Bybit thanks to its larger selection of cryptocurrencies, active copy trading platform, and range of passive earning tools. However, Bitget offers fewer derivatives trading pairs than Bybit, making it less attractive for people who predominantly focus on trading perpetual futures contracts.
- Larger selection of trading pairs than Bybit
- Competitive spot fees
- More passive earn tools
- Fewer derivatives pairs than Bybit
- Higher derivatives fees
One of the main draws to Bitget over Bybit is its larger selection of trading pairs. While Bybit offers 223 derivatives instruments, 596 spot pairs, and 401 cryptos, Bitget offers a more expansive 769 spot, 184 derivatives pairs, and 561 cryptos. As such, although Bitget is a great alternative to Bybit for spot trading, it could be better for exotic derivatives.
While Bybit offers a limited selection of basic earning products, Bitget boasts a far larger selection, including specialist products like Dual Investment, Shark Fin, Range Sniper, and Smart Trend. With such a diverse range of products, Bitget's staking/earn products will appeal to investors and traders of all preferences, making it a far more versatile option than Bybit.
Bitget boasts a very similar fee structure to Bybit, with spot transactions costing 0.1% and futures trades priced at 0.02% (maker) / 0.06% (taker). However, Biget users can reduce their fee liability by paying costs using the exchange's native BGB token. The discount for paying using BGB is 20%, rendering spot trading cheaper than Bybit but slightly more pricey than Binance when using BGB.
Although Bitget isn't as popular as exchanges like Bybit or Binance, it remains a well-rounded trading platform with a good selection of pairs, competitive fees, and a wide selection of earning products. Although the fees and pairs for derivatives trading are lackluster, Bitget is a suitable alternative to Bybit if users prioritize passive-earning products.
Read our full Bitget review.
Frequently Asked Questions
We found Binance to be the best overall alternative to Bybit. While both exchanges share a similar feature set and trading interface, Binance offers far more earn products, a larger selection of trading pairs, and a more active copy trading platform. Furthermore, US residents can trade on Binance.US, making it a great alternative regardless of what you aim to do on the exchange.
Out of all of the alternatives to Bybit we've looked at, MEXC offers the widest range of crypto assets with an impressive 1,646 unique cryptocurrencies, including major assets like Bitcoin, Ethereum, and Cardano, as well as lesser-known projects like V Systems, MX Token, and Bytom.
Although many crypto exchanges have started to mandate that users must complete Know-You-Customer (KYC) verification before depositing funds or trading, most platforms we've discussed let users deposit crypto to begin trading without completing verification. MEXC, Bitget, PrimeXBT, KuCoin, and Kraken can all be used for trading without providing ID documents.
Bybit has extremely competitive fees of 0.1% (spot trading) and 0.06% (taker) / 0.01% (maker) for futures, putting it on par with Binance. However, MEXC is even more cost-effective, with zero spot fees and a 0.01% charge for taker futures orders. As such, if traders are looking to maximize their profits, MEXC could be the best option.
Undeniably, Bybit is a market-leading trading platform with features likely to appeal to most people interested in cryptocurrency, regardless of whether they prefer margin trading, long-term investing, or staking. However, although Bybit is a well-rounded exchange based on our review, some people may prefer specific features, a larger selection of trading pairs, or lower fees. As such, it's important to consider Bybit alternatives.
Each cryptocurrency exchange we've looked at in this guide is a respected platform with millions of users. However, we found Binance to offer the greatest blend of features, low fees, and tradable assets compared to Bybit. That said, it's important to consider specific needs when selecting a platform to ensure that trading on the exchange is best suited to individual needs.