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Bybit vs Phemex is an interesting comparison as these are two of the most powerful trading platforms in the world. Both exchanges are popular among millions of users worldwide, thanks to the cutting-edge features offered.
Bybit and Phemex, both have an undeniable prominence in the market. However, if you want to opt for one of these then you must consider having a look at our comparison below.
Bybit vs Phemex – A Brief Introduction
Bybit is a Singapore-based crypto derivatives exchange, established in 2018. Since then, it has grown to become one of the most important trading platforms, supporting leverage and futures trading and more.
This peer-to-peer (P2P) crypto exchange also has the highest trading engine capacity among its competition, i.e. 100,000 transactions per second (TPS).
Phemex was launched in 2019 and is also a derivatives crypto exchange. It aims to make crypto trading easier and more convenient for all types of traders, including institutional-level traders. It has a user-centric approach and is known to make a few changes in its features based on feedback from the community.
Bybit vs Phemex – Leverage Offered
Bybit and Phemex have several similarities, one of which is the support they extend for leverage trading. This is a popular type of trading and is supported by a majority of cryptocurrency exchanges.
Both trading platforms are suitable exchanges to choose from if you want to trade with leverage. They are secure and also offer one of the highest leverages, which is up to 100x.
Phemex supports 7 trading pairs and the leverage offered is different for each pair.
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Data Analysis Tools
Bybit is a powerful trading platform that is quite popular among crypto traders. It is suitable for almost all kinds of traders, due to useful features like data analysis tools, such as Monthly Price Range. The tools available on Bybit are as follows and can also be downloaded by the users:
- Daily Realized Volatility
- Rolling Volatility
- Price Moving Averages
To learn more about these data analysis tools you can read our detailed Bybit review.
Phemex is also a well-reputed trading platform and offers various in-built tools to carry out technical analysis, however, the tools for analyzing data may not be available.
Even though both trading platforms were created only a year apart, Bybit does have a few advantages over Phemex.
Since Bybit was created first, it is a better-established trading platform and therefore, offers greater liquidity to the users.
Phemex, on the other hand, has been growing and is a topmost choice for many, but it does not offer the same level of liquidity.
Therefore, if liquidity offered by an exchange is a crucial part of your criteria then the clear option would be the Bybit exchange.
Bybit vs Phemex Fees Structures
In terms of fees charged, both Bybit and Phemex are quite impressive options. Not only do they have a fair and transparent fee structure but the amount users have to pay is the same as well.
Details of the fee charged by both exchanges are mentioned below.
- Withdrawal fee: 0.0005 BTC (for Bybit)
- Withdrawal fee: 0.00057 BTC (for Phemex)
- Trading fee for market makers: -0.025%
- Trading fee for market takers: 0.075%
Bybit is a P2P exchange that enables users to deposit a few cryptocurrencies. This includes the crypto king Bitcoin as well as EOS, Ethereum and XRP.
Conversely, Phemex may offer other outstanding features but it supports the deposit of only one digital asset i.e. Bitcoin.
Considering the options offered by both platforms, Bybit seems like a better fit for most users.
Bybit and Phmex Deposit Limits
Both trading platforms have several similarities, which may make it difficult to identify the best exchange to use. However, one aspect that is not similar for Bybit and Phemex is the minimum deposit accepted by both.
Bybit has no limit for minimum deposits that can be made. However, the minimum deposit requirement on Phemex is 0.00000001 BTC.
Bybit vs Phemex – Final Takeaways!
Bybit and Phemex have a lot of similarities, in terms of the features they offer, as they are both well-known and outstanding trading platforms. However, our brief comparison above does highlight the prominent attributes of both exchanges. As a new investor or trader, you must compare your options and choose an exchange that suits your needs the most. If your focus is on the deposit limits, options and other details such as liquidity then a clear option for you can be the Bybit exchange.
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The post Bybit vs Phemex – A Comparison of Fees, Tools, Trading Features and More appeared first on Bitcoinsensus.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.