Started on Binance in 2018, Moved My Primary Activity to Bybit in 2019
I have been trading since 2018. Binance was the first exchange I registered on, and the account is still active. But by 2019 the majority of my activity had shifted to Bybit. The reason was not "Binance is bad" — it was specific things: UAH P2P was more convenient on Bybit, the futures interface was simpler, copy trading developed faster. I keep Binance for the BNB ecosystem and Launchpad. This comparison is the summary of 6+ years using both.
Quick Pick
Spot Fees
| Bybit | Binance | |
|---|---|---|
| Base | 0.1% | 0.1% |
| With token discount | 0.1% (no equivalent) | 0.075% (BNB -25%) |
| VIP tiers (max discount) | down to 0.005% maker | down to 0.02% |
Verdict: with BNB, Binance is slightly cheaper on spot for typical volumes. At VIP tiers for very high volumes, Bybit can be cheaper on maker.
Futures Fees
| Bybit | Binance | |
|---|---|---|
| Maker | 0.02% | 0.02% (0.018% with BNB) |
| Taker | 0.055% | 0.05% (0.045% with BNB) |
| USDT withdrawal (TRC-20) | ~1 USDT | ~1 USDT |
Nearly identical; Binance with BNB is slightly cheaper on taker (the BNB futures discount is 10%, not the 25% spot discount).
P2P: My Main Reason for Moving to Bybit
In 2019, UAH P2P on Binance was less developed — fewer sellers, slower trades. Bybit had more offers and faster transactions from the start. The gap is smaller today, both exchanges have decent UAH P2P, but Bybit still has a larger seller pool and faster trades in my current experience.
Copy Trading: Bybit Is More Developed
| Bybit | Binance | |
|---|---|---|
| Number of masters | 130,000+ | Fewer, more limited functionality |
| Spot Copy | limited | limited |
| Futures Copy | ✓ Developed | ✓ Basic |
Bybit made copy trading one of its flagship products — more masters, better filters, more detailed stats.
Where Binance Wins: BNB and Scale
Binance remains the largest exchange by trading volume globally — the deepest liquidity for large orders. The BNB ecosystem (Launchpad, Launchpool, 25% discount) is the largest in the market. If these matter to you, Binance as a second account is essential.