Bybit is one of the top exchanges in the world. It is an exchange that has users all over the world and is expected to grow in the future. Kraken, on the other hand, is used by a large number of American users as an American virtual currency exchange. Which is better when choosing a virtual currency exchange?
What is Bybit?
Bybit is a cryptocurrency exchange based in Dubai. There are many users and they are distributed all over the world. You can check the company profile etc. in the following article. You can also check the license acquisition status.
What is Kraken?
Kraken is an American cryptocurrency exchange. This exchange is very famous in the United States and has a large number of users because it offers cryptocurrency and fiat currency exchange services. Available to residents of 48 US states and 176 countries as of 2020. Kraken is the fourth largest cryptocurrency exchange in the world.
word of mouth and reputation
Bybit’s platform is highly rated. Whether it’s features or speed, it gets pretty high marks. Futures trading is rated for those who are familiar with derivatives and their specifications.
Region, country and distribution of registered users
The distribution below is taken from a site called Traders Union. Traders Union is a website founded in 2010 that introduces reviews and reviews of cryptocurrency and forex sites. Bybit has the most users in Japan. America will be next. Bybit is well known in East Asia and North America, and is used by many users. In addition, there are many users in South America.
Source : TradersUnion
Kraken is nearly half American. Switzerland, Japan, Denmark, and Canada are also very popular. Overall, it can be seen that users are quite biased in the North American region.
Source : TradersUnion
Bybit VS Kraken
|Company||Bybit Fintech Limited||Payward, Inc.|
|Promotion||Account Open Bonus $5|
Deposit bonus $30,000 USDT
BTC Deposit Bonus $5
Refer a friend campaign 30%
USDC Festival in Spring
|Live Chat Support||〇||〇|
|Withdraw Merthod||Crypto||Bank Transfer|
|Deposit Method||Bank Transfer|
|Trade Instruments||Spot, Futures, P2P, NFT||Spot, Futures|
Handling virtual currency
Kraken is completely more in terms of the number of virtual currencies handled. Bybit has only 150 types, so Kraken has more stocks.
Bybit has a maximum leverage of 100x, allowing for fairly high leverage trading. The Kraken, on the other hand, only has 50x, which makes it less appealing.
Bybit is easier to use in terms of trading tools. This is because it supports MT4. MT4 is a popular tool for traders around the world. Kraken uses original trading tools.
Bybit is clearly better in terms of promotions and bonuses. Bybit also conducts campaigns irregularly, so there are many events throughout the year. Kraken’s campaigns and bonuses are quite rare among the world’s cryptocurrency exchanges.
Bybit is clearly cheaper for both taker and maker fees. Kraken will charge slightly higher fees.
In principle, Kraken only allows spot trading and leverage trading, but Bybit recently started handling NFTs, so there are a wide variety of stocks.
Recommended by Bybit
If you want to take full advantage of promotions and bonuses, Bybit is definitely recommended. You can open a Bybit account from the following article. Please refer to the instructions on how to open an account.