Fees, Features, and Security Comparison

The world of crypto trading is booming, drawing in millions of investors and traders globally. But for those just starting out, choosing the right trading platform can feel difficult. With so many options available, it’s important to weigh all factors like fees, security, supported coins, features, and how user-friendly the platform is.

In this guide, we will compare two popular cryptocurrency exchanges Bybit vs MEXC based on key trading features, fees, and overall trading experience to help you decide which platform suits your needs better. 

Bybit vs MEXC: Comparison Table

Feature	Bybit	MEXC
Best for	Derivatives Trading	No-KYC Trading
Founded	2018	2018
Leverage	Up to 100x (Futures)	Up to 200x (Futures)
Options Trading	Yes (BTC & ETH)	–
Zero-Fee Trading	No	Yes (0% Maker Fee for Futures)
KYC Requirement	Yes	No (No-KYC trading available)
Trading Volume	Higher trading volume, ranked 2nd globally	Lower trading volume, ranked 10th globally
Liquidity	Strong liquidity	Slightly lower liquidity, especially for low-cap coins
Supported Cryptos	1,200+ coins	2,772+ coins
Spot Trading Fees	0.1% maker/taker	0.05% maker/taker
Futures Trading Fees	0.02% maker and 0.055% taker	0% maker and 0.02% taker
Futures Trading	Yes, with up to 100x leverage	Yes, with up to 200x leverage
Margin Trading	Yes, 10x leverage	–
Copy Trading	Yes	Yes
P2P Trading	Yes, with 100+ payment methods	Yes, with fewer payment options
OTC Trading	Yes, for large trades	–
Crypto Loans	Yes	Yes
Staking	Yes, flexible and fixed options	Yes, but less variety
NFT Marketplace	Yes, available for trading	–
Mobile App	Smooth experience	Can be laggy during high trading activity
Security Rating (Certik)	85.58 (A Rating)	81.82 (A Rating)
Detailed Reviews	Bybit review	MEXC review

Bybit vs MEXC: Features

Bybit Standout Features

1. Derivatives Trading: Bybit offers futures trading with up to 100x leverage. This allows you to trade large positions with small funds, giving you more profit opportunities. It supports perpetual futures contracts in USDT and USDC margined pairs for 100+ major cryptocurrencies, offering deep liquidity.
2. Options Trading: Bybit also provides options trading for Bitcoin and Ethereum, a rare feature for crypto exchanges. Options let you hedge your trades or bet on price movements, making it a useful tool for advanced traders. MEXC does not support options contracts.
3. Copy Trading: With copy trading, you can follow and replicate the strategies of experienced traders. This is perfect for beginners who want to learn or earn passively by trusting experts.
4. P2P Trading: Bybit’s P2P platform supports over 100 local payment methods, including local bank transfers and digital e-wallets. You can trade crypto directly with others safely and at no extra fees.
5. OTC Trading: The Over-The-Counter (OTC) desk helps users trade large amounts of crypto privately. This ensures there’s no impact on market prices, which is useful for institutional or high-net-worth traders.
6. Crypto Loans: You can borrow crypto by offering your assets as collateral. This is handy for getting funds without needing to sell your holdings at low prices.
7. Trading Bots: Bybit offers bots for automated trading based on pre-set strategies. These bots help execute trades 24/7, saving you time and optimizing profits.
8. Staking: Bybit’s staking lets you earn passive rewards by locking your crypto. Flexible and fixed staking options allow you to choose based on your goals. It also offers liquidity mining through its Bybit DeFi wallet.
9. Bybit Card: The Bybit Card converts crypto to fiat, allowing you to spend at over 90 million merchants worldwide. It is a debit card, making crypto practical for everyday use.
10. NFT Marketplace: Bybit’s NFT Marketplace allows you to buy and sell digital collectibles and art. It supports various NFT projects, making it easy to explore the growing NFT market.

MEXC Standout Features

1. 200x Leverage Trading: MEXC offers up to 200x leverage on futures trading, one of the highest among crypto exchanges. If we compare, Bybit offers 100x leverage, and Binance and Bitget also offer up to 125x leverage.
2. No-KYC Trading: MEXC allows users to trade without completing a Know Your Customer (KYC) process. This makes it easy to start trading quickly and ensures privacy for those who prefer not to share personal details. However, some features and withdrawal limits may require verification.
3. Zero-Fee Futures Trading (0% Maker): MEXC offers zero maker fees on its futures market. This reduces trading costs significantly, especially for high-frequency and algorithmic (API) traders.
4. Launchpad and Token Airdrops: MEXC’s Launchpad supports early-stage crypto projects, allowing users to invest before they become widely available. It also offers frequent token airdrops, giving users free crypto for participating in promotions or holding certain coins.
5. Low-Cap and New Coin Support: MEXC is known for listing low-cap and newly launched cryptocurrencies. This makes it a go-to platform for traders seeking early opportunities in niche projects. However, trading lesser-known coins can carry higher risks due to volatility and low liquidity.

Bybit vs MEXC: Fees

Trading Fees

Bybit’s spot trading fees are quite competitive, with both maker and taker fees set at 0.1%. MEXC also has a very low fee structure, charging only 0.05% for both makers and takers. 

MEXC frequently hosts zero-fee trading events, making it a favorite for those seeking the lowest trading costs. It is known for offering some of the most affordable rates in the crypto industry, while Bybit becomes more cost-effective for traders handling high trading volumes.

Regarding futures trading, MEXC provides an edge with a 0% fee for makers and just 0.020% for takers. Comparatively, Bybit charges 0.02% for makers and 0.055% for takers. 

This makes MEXC’s fees noticeably lower for futures trading. Both platforms provide additional benefits, including fee discounts and rewards, for VIP users based on their trading volume and account activity.

In addition to standard fees, Bybit and MEXC also have unique charges. Bybit includes funding fees for perpetual contracts, which depend on market conditions and your trading position. 

It also has liquidation fees for margin trading, though these are only applied in specific situations. MEXC similarly charges funding fees for futures contracts and provides discounts for high-frequency traders.

Deposit and Withdrawal Fees

For deposit fees, both platforms are on par. Neither Bybit nor MEXC charges fees for crypto deposits. However, if you deposit fiat currency, you may incur fees depending on the payment method. 

Bybit, for example, may include third-party service fees for fiat transactions. Similarly, MEXC follows the same approach, with the exact fee varying by the payment provider.

Withdrawal fees are another important factor. Again, MEXC generally has lower withdrawal fees compared to Bybit. For instance, withdrawing Bitcoin from MEXC costs 0.00003 BTC, while the same transaction on Bybit costs 0.00005 BTC. While the difference may seem small, it can add up for frequent traders. 

Both platforms display clear information about fees based on the specific cryptocurrency you are withdrawing, but MEXC’s slightly lower rates make it more appealing for some users.

Winner: MEXC offers lower fees for both spot trading and futures trading (0.05% vs. 0.1%), along with more affordable withdrawal costs for crypto network transactions.

Bybit vs MEXC: Supported Cryptocurrencies

Bybit offers over 1,200 coins and more than 1,600 trading pairs, focusing on popular crypto assets alongside emerging tokens. This makes it suitable for traders looking for a mix of major and mid-tier cryptocurrencies. 

On the other hand, MEXC leads with support for more than 2,772 coins and over 3,101 trading pairs. This makes it one of the platforms with the highest coin availability in the industry.

MEXC also frequently lists new and trending tokens earlier than many competitors. This is best for traders interested in niche or newly launched projects. Both platforms support major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH), but MEXC provides better access to lesser-known tokens and experimental projects. This makes it an attractive option for altcoin investors.

Winner: MEXC offers more digital assets for traders with over 2,772 coins and 3,101 pairs, compared to Bybit’s 1,200 coins and 1,600 pairs.

Bybit vs MEXC: Security and Regulation

Both Bybit and MEXC are known for their strong security measures. Here is a quick safety overview:

• Two-Factor Authentication (2FA): Both Bybit and MEXC implement 2FA, requiring users to authenticate with a secondary method during logins and withdrawals. You can either use SMS-based 2FA or Google Authenticator.
• Anti-Phishing Code: You can set a unique anti-phishing code to ensure that official emails from both crypto exchanges are easily identifiable. This measure helps reduce phishing attempts and fraud.
• Withdrawal Address Whitelist: Both platforms offer address whitelisting, allowing you to pre-approve specific crypto wallet addresses for fund withdrawals. This prevents unauthorized transfers even if an account is compromised.
• Proof of Reserves (PoR): Bybit has over $18 billion in user assets, showcasing strong reserves according to DeFiLlama. MEXC, in comparison, holds around $1 billion, significantly lower.
• Cold Storage: Both cryptocurrency exchanges store the majority of their funds in offline cold wallets, making them secure from online hacks. This method has been effective, as neither platform has reported any hacking incidents.

According to the cybersecurity agency Certik, MEXC has a safety score of 81.82 with an A rating, ranking it as the 10th safest crypto exchange among all platforms. On the other hand, Bybit performs slightly better with a safety score of 85.58 and an A rating, placing it among the top 6 safest crypto exchanges. 

These scores reflect the overall security practices, including measures like two-factor authentication, cold storage, and their response to security incidents.

In terms of regulations, Bybit holds a clear advantage. It operates under regulatory frameworks in multiple regions, including Georgia, the Netherlands, Kazakhstan, and Dubai, which enhances its credibility and aligns it with legal standards. 

On the other hand, MEXC is not regulated by any major financial authority, which may concern users who prioritize compliance and oversight.

Bybit vs MEXC: KYC Requirement

MEXC and Bybit have different approaches when it comes to KYC (Know Your Customer) requirements. 

Bybit requires users to complete certain levels of verification to unlock higher withdrawal limits and access specific features. It has two main KYC levels: Level 1 and Level 2. 

• For Level 1, users need to provide identification documents and undergo facial recognition. Completing this allows a daily withdrawal limit of up to 1 million USDT with no cap on monthly withdrawals. 
• Level 2 verification adds proof of residence, increasing the daily withdrawal limit to 2 million USDT while still maintaining no monthly limit. You can also increase your daily withdrawal limits by increasing your VIP tier.

MEXC, on the other hand, is widely recognized as a no-KYC crypto exchange, meaning users can trade without undergoing ID verification. For unverified accounts, users can withdraw up to 10 BTC per day. 

However, if users choose to verify their identity, higher limits are available. Basic KYC involves submitting personal details and an ID and raising the withdrawal cap to 80 BTC daily. Advanced verification adds facial recognition and increases the daily limit to 200 BTC, while institutional verification, which requires business documents, allows withdrawals of up to 400 BTC daily.

Winner: MEXC is best for those who value privacy and prefer trading without verification, while Bybit caters to users who prioritize higher limits and a more regulated experience.

Bybit vs MEXC: Deposits & Withdrawal methods

Bybit provides a broader range of fiat options. It supports deposits in over 60 fiat currencies and allows P2P transactions with more than 100 local payment methods. 

To buy crypto directly, popular deposit methods include SEPA transfers, Google Pay, and third-party services like MoonPay, Banxa, and Mercuryo. Bybit’s versatility makes it easier for users to convert fiat into crypto and vice versa.

MEXC only supports deposits in 3 fiat currencies: USD, EUR, and GBP. You can fund your account through methods such as credit/debit cards (Visa and Mastercard), SWIFT transfers, peer-to-peer (P2P) trading with local payment methods (like UPI and GPay), and third-party platforms like Banxa, Simplex, and Mercuryo. Plus, MEXC offers its Mastercard for payments. However, it does not support direct bank account transfers for fiat withdrawals.

Winner: Bybit is the winner in deposit and withdrawal options, as it supports over 60 fiat currencies and offers a wide range of payment methods.

Bybit vs MEXC: Trading Volume and Liquidity

According to CoinMarketCap, Bybit ranks 2nd in overall trading volume and liquidity, while MEXC holds the 10th position. Bybit records a spot trading volume exceeding $7.5 billion and has a liquidity score of 676, indicating strong market depth and efficient order execution. MEXC, with a spot trading volume of $4.5 billion, achieves a slightly higher liquidity score of 687. Both exchanges are good for crypto day trading.

However, MEXC’s large number of supported cryptocurrencies dilutes its liquidity, particularly in low-cap altcoins, where trading activity is less concentrated. Both platforms maintain high liquidity for popular tokens, but Bybit’s fewer yet more concentrated offerings ensure stronger liquidity across its listed markets.

Winner: Bybit has higher trading volume and liquidity than the MEXC exchange.

Bybit vs MEXC: User Experience and Customer Support

During our Bybit vs MEXC comparison, we found that Bybit offers a better user experience than MEXC due to its clean design and smooth performance. One of its best features is the Unified Trading Account, which lets you manage spot, futures, and options trading from one place. 

This makes it easier to handle your funds without moving them between wallets. Bybit’s platform runs fast and doesn’t lag, even during busy trading times. Its mobile app is just as smooth, making it reliable for on-the-go trading.

MEXC, while offering a wide range of features and trading pairs, has a more cluttered interface that may feel overwhelming for new users. Its interface is less organized, and the platform sometimes lags, especially when trading activity is high. This can be frustrating if you’re trying to execute trades quickly.

Both exchanges provide 24/7 customer support via live chat and email. Bybit, however, delivers quicker response times and more in-depth solutions, along with a well-organized help center that features tutorials and FAQs to assist traders at all levels.

Winner: Bybit offers a better user experience compared to MEXC.

Final Verdict: Which is Better?

To conclude our Bybit vs MEXC comparison, both exchanges offer impressive features, but they cater to slightly different types of users. Bybit stands out for its advanced tools like derivatives trading with up to 100x leverage, options trading, and a smooth user interface. It is ideal for experienced traders looking for a reliable platform with strong security measures. 

MEXC provides a wide selection of low-cap and new coins, higher leverage of up to 200x, and zero-fee futures trading, making it perfect for traders looking to explore early-stage cryptocurrencies. However, Bybit has a more polished user experience and better customer support. Both exchanges have strong security, but MEXC offers no-KYC trading, which appeals to privacy-conscious users.

FAQs

Is MEXC a reliable exchange?

MEXC is considered reliable by many crypto traders. It is ranked #10 among crypto exchanges on CoinMarketCap for liquidity and trading volume. The platform has robust security measures like 2FA, withdrawal whitelists, and cold storage for funds. MEXC has never been hacked, which adds to its trustworthiness. 

According to Certik, a leading blockchain security firm, MEXC has a safety score of 81.82 and an “A” rating. It also provides access to many new and low-cap coins, making it a popular choice for early adopters.

Are Bybit and MEXC available in the US?

Both Bybit and MEXC are not fully available in the United States due to regulatory restrictions. Bybit specifically prohibits US residents from using its platform, but some users access it via VPNs. 

MEXC also has limited access for US users and advises traders to check their local regulations before signing up. Despite their restrictions, both platforms remain popular globally and offer extensive features for non-US customers.

Is Bybit better than MEXC?

Bybit excels in derivatives, offering up to 100x leverage, and has features like options trading, copy trading, and a smooth user experience. It also supports over 60 fiat currencies for deposits. 

MEXC shines in its support for low-cap and new cryptocurrencies. It also offers high leverage (200x) and zero maker fees in futures trading. Bybit is better for advanced trading tools and a polished interface, while MEXC is ideal for discovering niche coins.

Can I buy crypto without KYC on Bybit and MEXC?

You cannot trade or deposit crypto on Bybit without completing KYC (Know Your Customer) verification. Bybit requires full verification before you can make deposits or trade. However, you can still withdraw up to 20,000 USDT per day without KYC. 

MEXC allows users to trade and withdraw up to 10 BTC daily without completing KYC. This makes MEXC more accessible for users who prefer not to share personal details.