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. On the other hand, Upbit is used by many Korean users as a Korean 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 Upbit?
Upbit is a cryptocurrency exchange born in South Korea. We cover all major Bitcoin, Ethereum, Litecoin, Tether, Ripple, etc. It is mainly used by Koreans, but it is very convenient because it also handles fiat currency.
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
Upbit has become a virtual currency exchange exclusively for Koreans. There are few non-Korean users.
Source : TradersUnion
Bybit VS Upbit
| Bybit | Upbit | |
| Company | Bybit Fintech Limited | Upbit |
| Headquarters | UAE | South Korea |
| Found | 2018 | 2017 |
| Max Leverage | 100 | – |
| Cryptocurrencies | 150～ | 180 |
| Native Token | BIT | – |
| Maker Fee | 0.01% | 0% |
| Taker Fee | 0.06% | 0.15% |
| Promotion | Account Open Bonus $5 Deposit bonus $30,000 USDT BTC Deposit Bonus $5 Refer a friend campaign 30% USDC Festival in Spring Others… | × |
| Security | High | High |
| Staking | 〇 | × |
| Loss Cut | – | – |
| Mobile App | 〇 | 〇 |
| Live Chat Support | 〇 | 〇 |
| Withdraw Merthod | Crypto | Crypto |
| Deposit Method | Bank Transfer P2P Debit/Credit card Ethereum | Bank Transfer Crypto |
| Demo Account | 〇 | 〇 |
| Minimum Deposit | $0 | $0 |
| Minimum Trade | 0.001BTC | 0.0009 BTC |
| MetaTrader 4 | 〇 | × |
| MetaTrader 5 | × | × |
| cTrader | × | × |
| Future Trading | 〇 | × |
| P2P Trading | 〇 | × |
| Spot Trading | 〇 | 〇 |
| Copy Trading | 〇 | × |
| Auto Trading | 〇 | × |
| VPS Hosting | 〇 | × |
| Social Trading | × | × |
| Trade Instruments | Spot, Futures, P2P, NFT | Spot, NFT |
Handling virtual currency
Upbit is completely more in terms of the number of virtual currencies handled. In the case of Bybit, there are only 150 types, so the number is very limited.
Maximum leverage
Bybit has a maximum leverage of 100x, allowing for fairly high leverage trading. On the other hand, Upbit does not allow leverage trading.
trade tools
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. Upbit uses original trading tools.
campaigns, bonuses
Bybit is clearly better in terms of promotions and bonuses. Bybit also conducts campaigns irregularly, so there are many events throughout the year. There are no Upbit promotions.
transaction fee
Upbit is clearly cheaper for both taker and maker fees.
NFT
In principle, Upbit can only deal with physical transactions, but NFTs are also handled. Bybit has recently started handling NFTs, so it has 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.
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