Comparison of Bybit vs Biking [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bybit vs Biking comparison!

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Biking

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,10% /0,20%

Fees

Yes

Earns

2/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

3.7 – Competitive fees but some charges for premium features.

Level

≤0,10%

0,10% /0,20%

Brief explanation

Bybit’s commission structure is designed to be competitive and appealing to both high-volume traders and occasional participants. The platform primarily charges two types of fees: maker fees and taker fees. The maker fee can reward users for adding liquidity to the market, typically set below the industry average, while the taker fee is slightly higher due to the nature of removing liquidity. For trading derivatives such as perpetual contracts, Bybit charges a taker fee of 0.075% and provides a maker rebate of 0.025%, which means makers actually earn a credit for executing trades. This fee structure is particularly attractive to those who trade frequently or utilize trading bots to maintain liquidity on the exchange. Overall, Bybit’s fee strategy supports a dynamic trading environment, encouraging both the provision and taking of liquidity while keeping costs transparent and manageable for traders of all levels.

BiKing Exchange employs a competitive fee structure designed to accommodate both casual and high-volume traders. The platform charges a basic trading fee, with discounts available based on trading volume, encouraging active trading. This tiered fee approach ensures that both small-scale traders and large investors can operate efficiently. The fees are structured to be transparent and are clearly communicated on the platform, making it easy for users to understand how much they will be paying per transaction. This setup not only fosters a fair trading environment but also enhances the overall trading experience by minimizing unexpected costs.

Bybit

Security Methods: Bybit employs robust security practices, including cold storage for digital assets, real-time risk audits, and two-factor authentication (2FA) to protect user accounts and funds. This comprehensive approach ensures a secure trading environment.
Reputation and Reviews: Since its inception, Bybit has maintained a strong reputation within the crypto community for its reliability, advanced trading features, and user-friendly interface. Positive reviews across various forums and its low incident of security breaches contribute to its credibility.
Trading Volume and Liquidity: Bybit is known for its deep liquidity and high trading volume, facilitating seamless execution of trades without significant slippage, even during volatile market conditions. This is crucial for traders looking to execute large orders.
Transparency: Bybit provides clear and detailed information on trading fees, funding rates, and insurance funds. It regularly publishes updates about system upgrades and security enhancements, demonstrating transparency in operations and communications with its users.
Customer Service: Bybit offers 24/7 customer support with a multilingual team accessible via live chat, email, and social media. This constant availability ensures that user queries and issues are resolved promptly, enhancing user trust and satisfaction.

Read bybit review

Biking

Security Methods: BiKing Exchange employs robust security protocols, including multi-layer encryption, deep cold storage for funds, and multiple offline signatures for transactions. These measures provide strong safeguards against unauthorized access and loss of funds, establishing a secure trading environment.
Year Founded: Since its establishment in 2017, BiKing Exchange has shown consistent growth and stability in the highly volatile crypto market. This longevity is a testament to its adaptability and commitment to serving its users effectively, building trust over time.
Reputation and Reviews: The exchange has maintained a positive reputation within the cryptocurrency community. User reviews often highlight the reliability, user-friendly interface, and the responsive customer support provided by BiKing, indicating a high level of satisfaction among its clients.
Trading Volume and Liquidity: BiKing Exchange supports significant trading volume and liquidity, ensuring that users can execute trades quickly and at desired prices. This capability is crucial for both casual and serious traders who need to manage their portfolios efficiently and capitalize on market opportunities.
Customer Service: The platform provides 24/7 customer support, ensuring that user queries and issues are addressed promptly. This commitment to customer service enhances user trust, as participants know they have continuous support for any issues they might encounter.

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Biking Technology Co., Ltd

Regulation

Not regulated

Year founded

2018

Unknown

Founder

Ben Zhou

Unknown

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Bybit	FEATURES	Biking
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	BiKing offers a reasonable minimum trade limit, accommodating both small and large traders.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	The exchange boasts low trading fees at 0.01% for both makers and takers, promoting active trading.
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	While BiKing supports major cryptocurrencies like Bitcoin and Ethereum, it has a more limited selection compared to larger exchanges.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Offers a modest range of crypto-to-crypto trading pairs, sufficient for mainstream traders but less so for those seeking variety.
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	BiKing provides clear information about trading fees and security measures but could improve on regulatory disclosures.
Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.	Credit/Debit Card	Without a dedicated exchange card, users of BiKing Exchange may miss out on the convenience and rewards typically associated with such cards in the cryptocurrency space.
Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.	Storage Offering	Utilizes secure cold storage solutions to ensure the safety of user funds against potential threats.
Offers basic staking features but is not as competitive as other platforms that provide higher yields and more variety in staking options.	Staking and Rewards	Offers staking options and rewards, although the range and returns are somewhat limited compared to competitors.
Both the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.	Mobile App and Desktop	Both the mobile app and desktop platform are user-friendly and robust, offering a seamless trading experience.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Provides 24/7 customer support with good response times and helpful assistance.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Efficient deposit and withdrawal processes, though limited by the lack of fiat currency support.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Unknown

Mobile APP

Yes

Security

High 4,9/5

High 4/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Social trading, copy trading, margin trading, futures contracts

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

50+

User-friendliness

Bybit offers a user-friendly platform that is easy to navigate, with a focus on derivatives trading. The interface is designed to be accessible to both beginners and experienced traders.

Biking offers an intuitive platform with a user-friendly interface, ideal for beginners. The platform’s design ensures that users can easily navigate and execute trades without encountering unnecessary complexity.

Value for money

Offers good value for money with low trading fees and advanced trading features, suitable for both retail and institutional traders.

Provides reasonable value for money with competitive fees and a user-friendly interface, suitable for both beginners and experienced traders.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

United States, Canada, United Kingdom, Australia, Germany

Best for

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.

Ideal for both new and seasoned traders who want a user-friendly interface and competitive fees.

Base currencies available

USD, USDT, BTC

CNY, BTC, USDT

Account

Trading

Bybit is known for its derivatives trading and leverage options. It offers advanced trading tools and high liquidity but is not suitable for beginners due to its complexity and risk.

Biking is a smaller exchange that provides basic trading functionalities. It’s suitable for beginners but may not meet the needs of advanced traders due to its limited tools and lower liquidity.

Deposit and withdrawal

Bybit supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, usually within a few hours, with low fees.

Biking offers standard deposit and withdrawal methods like bank transfers and crypto deposits. Withdrawal times are moderate, and fees are generally low.

Account opening process

Bybit offers a seamless and fully digital account opening process. Users need to fill out personal information and verify their identity. The process is quick, typically taking less than a day to complete.

Biking’s account opening process is straightforward, requiring personal information and identity verification. The process is quick and fully digital, making it easy for users to start trading within a short period.

KYC required?

Yes

Customer Service

Bybit provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

Biking offers customer support through email and live chat. The response time is generally quick, but the support team is not available 24/7, which may be inconvenient for some users.

Security

Bybit provides robust security features with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

Biking offers robust security features, including 2FA and encryption. However, it lacks regulation from major financial authorities, which might be a concern for some investors regarding the safety of their funds.

Which of these exchanges is for you?

Alejandro Borja

As one of the experts here at Threenvest, I’d like to share a brief recommendation about using Bybit. Bybit offers a robust platform that caters well to experienced traders looking for advanced trading options in the crypto derivatives market. Its high-performance trading engine ensures rapid execution of trades, which is crucial during volatile market conditions. If you’re comfortable with high leverage and complex trading instruments, Bybit can be a powerful tool in your trading arsenal. However, beginners should tread carefully, given the platform’s complexity and the inherent risks of leveraged trading.

Xavier Tarrasó

As an expert on our website, I’d recommend BiKing Exchange for traders prioritizing security and low transaction fees. It’s particularly well-suited for those dealing primarily in major cryptocurrencies like Bitcoin and Ethereum. While the platform could improve by expanding its cryptocurrency selection and adding fiat currency support, its robust security measures and user-friendly mobile and desktop applications make it a solid choice for both new and experienced traders seeking a reliable trading environment.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.