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MEXC vs Bybit: Which Exchange is Best in 2024?

Publisher

February 8, 2024
bybit vs MEXC global comparison

Are you looking for a reliable crypto exchange? MEXC and Bybit are some of the top crypto exchanges in the world. In this comparison, we will share our analysis of the two crypto trading platforms. We considered all important factors when it comes to choosing the right crypto exchange for trading and other activities.

Most importantly, we will solve the question: Is MEXC or Bybit better? At the end of this guide, you will know exactly if you should use Bybit or MEXC.

 

MEXC vs Bybit Overview

First, let’s start this comparison off with a table so that you can compare all key measures of Bybit and MEXC side by side.

 

This table compares all key measures of Bybit and MEXC, two of the largest crypto exchanges in the world!

 

MEXC Pros & Cons

MEXC takes pride in providing the most complete crypto futures trading platform while maintaining complete anonymity. MEXC offers the highest leverage and lowest fees for spot and futures traders. The liquidity on MEXC is also great, however, Bybit offers slightly better liquidity.

The best thing is that it does not even need KYC verification, so you can stay anonymous.

A maker fee of 0% and a taker fee of 0.01% are charged on futures traders, making MEXC the cheapest leverage trading platform. No other exchange offers such minimal costs.

Additionally, MEXC supports more than 1800 cryptos on the spot market, so you may find everything you need!

The absence of FIAT support is one of MEXC’s biggest drawbacks. Because MEXC presently lacks on- and off-ramps, you must first buy USDT or other cryptocurrencies elsewhere before transferring them to MEXC. We still believe that this is a fantastic choice because the trading costs make the process totally worthwhile!

👍 Pros👎 Cons
✅ No KYC❌ Lacks FIAT support
✅ Lowest Fees❌ Lacks financial and passive income products
✅ Great Liquidity❌ Less popular platform
✅ Most Trading Pairs
✅ Reliable order execution
✅ Copy trading
✅ Available in USA

 

Visit MEXC!

 

Bybit Pros & Cons

Bybit has one of the most user-friendly interfaces and is known for its well-designed trading platform. In terms of liquidity, Bybit is one of the best choices. Furthermore, Bybit offers FIAT support for 5 different currencies, meaning you can deposit and withdraw EUR, GBP, AUD, and a few more FIAT currencies on Bybit.

The trading fees on Bybit are average with 0.01% maker and 0.06% taker fees for futures traders and 0.1% fees for spot traders. While these fees are fair, they are more than 6-10 times higher compared to MEXC. We still consider Bybit a great option for trading as it is a reliable platform and has a great reputation.

Where Bybit beats MEXC is the copy trading feature. We consider Bybit to have one of the best copy trading options in the crypto market. Only Bitget offers better copy trading.

👍 Pros👎 Cons
✅ Best liquidity❌ Much higher fees than MEXC
✅ Most user friendly interface❌ Requires KYC
✅ Very reliable exchange❌ Not available in USA
✅ Best copy trading feature❌ Less trading options
✅ More passive income products

 

Visit Bybit!

 

MEXC vs Bybit: Who wins?

In terms of value for money, MEXC is the best choice and even offers anonymous trading without KYC verification.

MEXC has by far the lowest fees, making trading on MEXC a lot more profitable than on Bybit. Furthermore, MEXC supports 1800 coins and 200x leverage, making MEXC a great choice for active crypto day traders. So if you are mainly looking for a trading platform, MEXC is the way for you!

Bybit stands out with its copy trading and passive income products. While we consider Bybit to be a decent option for trading, it simply can not compete with MEXCs generous trading platform.

One downside of Bybit is that it requires all users to verify their identity with the KYC process. That means you can not stay anonymous on the platform.

 

If you are looking for a crypto exchange for trading, MEXC is definitely the best choice!

 

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