MEXC vs. Bybit: Which Cryptocurrency Exchange Should You Choose?

MEXC and Bybit are top centralized cryptocurrency exchanges offering beginners and experienced users various tools for trading crypto with low fees.

MEXC and Bybit are two of the top centralized cryptocurrency exchanges offering beginners and experienced users various tools for trading crypto with low fees. While these exchanges have a lot in common, they also have features that they are most popular for, differentiating one exchange from the other.

MEXC is most popular for its extensive cryptocurrency support and for offering users the choice to trade without KYC. On the other hand, Bybit is known for its user-friendly interface and strong support for derivatives trading.

It can be difficult to decide which exchange is best for you, considering that both have great features and robust security measures. So, in this Bybit vs MEXC review, we will discuss everything you need to know about the two exchanges by comparing their fees, top features, supported coins, and KYC requirements.

By the end, you will have a clear understanding of the differences between Bybit and MEXC and which exchange best suits your trading needs. Let’s dive in!

MEXC vs Bybit: Overview Comparison

The key differences between MEXC and Bybit are their fees, specific features, number of cryptocurrencies listed, and their KYC verification requirements. For fees, MEXC futures and spot trading fees are lower than those of Bybit, even though Bybit also has incredibly low fees.

Secondly, both crypto exchanges have a lot of features in common, including a mobile app for on-the-go trading, advanced charting tools, copy trading, a demo trading feature, a token launchpad, futures and spot trading, and more. However, they also have features that set them apart.

For instance, Bybit has an NFT marketplace and a Web3 wallet, but MEXC does not. Also, Bybit’s copy trading platform supports trading of crypto (derivatives pairs), Gold, and FX pairs, while MEXC copy trading only allows users to trade futures contracts. Aside from fees, MEXC supports more cryptocurrencies than Bybit, and KYC is not mandatory on MEXC.

The table below highlights the key differences between MEXC and Bybit to help you compare the crypto exchanges side by side.

0.05% for taker fees.

0.10% for taker fee

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What are the Fees of MEXC vs Bybit?

The fees of MEXC and Bybit are trading fees, deposit fees and withdrawal fees, and futures fees. Below is a comparison of MEXC and Bybit fees, along with a breakdown of the withdrawal limits of the two cryptocurrency exchanges.

MEXC vs. Bybit: Trading Fees

For spot trading, MEXC allows makers to trade for zero fees and charges 0.05% for takers.

Takers can reduce their trading fees by doing any of the following:

Bybit also follows the maker and taker fee structure, with fees for makers and takers set at 0.1% on spot trading pairs. You can also reduce fees with a high 30-day trading volume. Bybit also charges a funding fee, which is the cost of holding a position open for a certain period. This fee is based on the interest rate and the demand for the asset in the market.

MEXC vs Bybit: Deposit and Withdrawal Fees

MEXC and Bybit do not charge fees for crypto deposits. For withdrawals on MEXC and Bybit, fees vary depending on the cryptocurrency you wish to withdraw, with some going for free. Here’s an overview of MEXC and Bybit withdrawal fees for various cryptocurrencies.

Ethereum (ERC20) – 8

TON – 0.3

ERC20 – 5

SOL – 1

Arbitrum One – 0.00004

BEP20 – 0.0002

Note: Bybit does not charge withdrawal fees for internal transfers, i.e, transfers from one Bybit wallet address to another. However, withdrawal fees on MEXC and Bybit change over time and are charged according to the chain and current network conditions. Please always check the most updated MEXC and Bybit fees when making a withdrawal.

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Difference in Withdrawal Limits Between