Comparison of Bybit vs Cryptology [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Cryptology

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

≤0,20%

Fees

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Reasonable fees with additional benefits for token holders.

Level

≤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.

Cryptology employs a transparent and competitive fee structure designed to cater to traders of all levels. The platform uses a progressive fee system where trading fees decrease with higher trading volumes over a 30-day period. For trading volumes under €50,000, both market makers and takers are charged a flat 0.20% fee. As trading volumes increase, fees can drop to as low as 0.016% for makers and 0.018% for takers for volumes exceeding €10,000,000. Deposit fees are generally non-existent, except for certain fiat deposits via debit or credit cards, which incur fees ranging from 1.7% to 2.65%. Withdrawal fees are asset-dependent, with Bitcoin withdrawals, for example, subject to a 0.0005 BTC fee .

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

Cryptology

Security Methods: Cryptology employs industry-standard encryption protocols, cold storage solutions, and two-factor authentication (2FA) to ensure the safety of user funds and data .
Year Founded: Established in 2017, Cryptology has a proven track record in the cryptocurrency market, demonstrating stability and growth over the years .
Regulation: The exchange is registered in Estonia and regulated by the Estonian Financial Intelligence Unit (FIU), ensuring compliance with international financial regulations .
Customer Service: Cryptology offers 24/7 customer support through various channels, including email and live chat, enhancing user satisfaction and resolving issues promptly .
Reputation and Reviews: Cryptology has generally positive reviews from users, highlighting its reliability, user-friendly interface, and efficient trading environment .

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Product selection

Native token

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Cryptology Asset Group Pte Ltd

Regulation

Not regulated

Year founded

2018

Founder

Ben Zhou

Unknown

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bybit	FEATURES	Cryptology
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	Minimum Trade	Cryptology allows users to start trading with a minimal amount, making it accessible for beginners.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting frequent traders.	Trading and Transaction Fees	Fees are competitive but not the lowest in the market. The fee structure benefits high-volume traders but could be more advantageous for smaller trades .
Offers a diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	The exchange offers a wide selection of cryptocurrencies, providing ample choices for diverse trading strategies .
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	Cryptology has numerous crypto-to-crypto pairs available, facilitating versatile trading opportunities and allowing traders to diversify their portfolios .
The website provides clear and detailed information about trading conditions, fees, and security measures.	Website Transparency	The website is highly transparent, providing detailed information about fees, security measures, and company policies. This transparency helps build trust with users .
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	Cryptology does not provide an exchange card for in-store purchases.
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	Cryptology provides secure storage options, though it could improve by offering more detailed information on security protocols and insurance coverage for stored assets .
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	The exchange offers staking options, but the rewards programs are not as extensive as those of some competitors. Enhancing the rewards system could attract more users looking for passive income opportunities .
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	The platform is available on both mobile and desktop with robust features, though some users report minor usability issues on the mobile app. Continuous updates and improvements can enhance the user experience further.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	Customer Service	Customer service is responsive but could benefit from 24/7 support availability. Providing more channels for support and ensuring round-the-clock service would greatly improve user satisfaction.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	Deposit and Withdraw	Cryptology offers various methods for deposits and withdrawals with reasonable processing times and fees. This flexibility makes it easier for users to manage their funds efficiently.

Key features

Analysis tools

Advanced charting, technical analysis tools, and derivatives trading features

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

High 4,5/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Margin trading, futures trading, staking, Cryptology Earn program

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.

Cryptology offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to provide a seamless trading experience with all necessary features easily accessible.

Value for money

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

Provides decent value for money with competitive fees and a user-friendly interface, though it may not have the lowest fees compared to some competitors.

Countries of operation

Singapore, Japan, South Korea, United States, Canada

Global, including 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.

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.

Base currencies available

USD, USDT, BTC

EUR, USD, RUB, BTC

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.

Cryptology offers a good selection of cryptocurrencies and competitive fees. It has a user-friendly platform but lacks some advanced trading tools.

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.

Cryptology supports various deposit methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

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.

Cryptology provides an easy and fast account registration process. Users need to submit personal details and verify their identity. The process is fully digital and usually completed within a day.

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.

Cryptology provides support through email and live chat. The support team is knowledgeable and responsive, but the lack of 24/7 support may be a drawback 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.

Cryptology employs standard security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

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 in cryptocurrency exchanges, I find Cryptology to be a secure and reliable platform, especially suitable for traders who prioritize security and transparent fee structures. The exchange offers competitive trading fees that decrease with higher trading volumes, which benefits active traders. Additionally, Cryptology’s commitment to security through industry-standard encryption, cold storage solutions, and two-factor authentication (2FA) provides peace of mind for users concerned about the safety of their funds. While the platform excels in these areas, it does have some limitations. The selection of altcoins is relatively limited compared to other exchanges, which might not appeal to traders looking for a broader range of digital assets. Furthermore, there have been reports of customer support issues, indicating a need for improvement in responsiveness and service quality. Overall, Cryptology is a strong choice for traders focusing on major cryptocurrencies and seeking a secure trading environment. Enhancing altcoin variety and improving customer support would further solidify its standing in the competitive cryptocurrency exchange market.

View all comparisons against Bybit

View all comparisons against Cryptology

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.