Bybit vs Coinbase | Why You Should Sign Up To Both Exchanges

Over the past five years, Bybit's product offerings have expanded rapidly and the exchange caters mainly to retail users and professional traders with a wide product offering.

Bybit has managed to create a user-friendly platform that is easy to navigate, making it accessible even for beginner which is impressive considering the variety of products.

At the heart of Bybit’s services is spot trading where users can buy and sell a vast selection of over 450 cryptocurrencies.

This range includes many large-cap coins and tokens, along with a substantial variety of altcoins, offering users plenty of choices to buy, sell and trade.

For those interested in trading with leverage, Bybit offers margin trading with up to 10X leverage. This allows traders to amplify their trades, either long or short, on a particular asset.

Additionally, Bybit provides leveraged tokens for about 30 cryptocurrencies, enabling users to take up to 5X leverage without the risk of liquidation.

Bybit has also developed a range of trading bots where users can automate various trading strategies, including futures grid, futures martingale, spot grid, and Dollar Cost Averaging (DCA).

Furthermore, there are many pre-created strategies with historical track records that users can copy for free, allowing users to replicate the trades of professional traders on Bybit.

Bybit also offers over 180 perpetual contracts with up to 100X leverage. These products encompass USDT perpetuals, inverse perpetual and futures, USDC perpetual and futures, as well as USDC Options.

Those interested in trading options can access European-style cash-settled options priced and settled in USDC on Bybit.

Bybit allows users to choose between isolated margin and cross margin based on their preference for keeping the margin isolated from the rest of their account or not.

In terms of trading volumes, Bybit ranks in the top 10 for spot trading with over $1 billion in 24-hour trading volumes. It's even more competitive in derivatives trading, ranking in the top 5 with over $7 billion in trading volumes.

Bybit also supports demo trading, enabling users to try out trading strategies in a risk-free environment before engaging in real-money trading.

For those looking to earn interest on their digital assets, Bybit offers multiple products such as lending and borrowing, liquidity mining, dual asset, and more.

These products allow users to earn interest on various digital assets, including BTC, ETH, USDT, and USDC, among others. The platform provides flexible and fixed-term earnings, staking rewards, and liquidity mining.

Bybit has introduced a unique Master Card for users who want to spend their digital assets in the real world and earn up to 10% cashback in rewards.

The exchange has recently expanded into the NFT space, supporting digital collectibles on blockchains like Ethereum, Solana, Polygon, Tezos, and BNB Chain.

For early-stage projects, Bybit offers a launchpad where users can commit MNT or USDT tokens to subscribe to token allocations in these new projects.

Finally, Bybit caters to high-net-worth individuals and institutions with its OTC desk, facilitating large trades of up to $10 million for instant settlement.

The user experience on Bybit is great with loads of trading products suitable for both beginners and professional traders. The interface is easy to navigate even for beginners and the user experience is top notch.

Coinbase is acclaimed as one of the world's leading cryptocurrency exchanges. The company has tailored a comprehensive range of products and services to mainly suit the needs of beginners and institutional clients.

In adherence to the stringent financial regulations of the United States, Coinbase has steered clear of offering high-risk products with 100X leverage, which are commonly available through offshore exchanges.

This cautious approach, while potentially limiting the platform's appeal to professional traders looking for high-risk opportunities, has proven advantageous for beginners with fewer products and a simpler user interface.

To accommodate users with different levels of experience and expertise, Coinbase provides two distinct user interfaces. The standard Coinbase interface and the Advanced interface.

The standard version is specifically designed with beginners in mind, offering an intuitive, user-friendly experience, while the Advanced version is geared towards more experienced traders, offering a range of sophisticated tools and features.

On Coinbase users have the opportunity to trade over 240 cryptocurrencies. These digital assets can be bought or sold using the straightforward buy-and-sell feature suitable for beginners, or the more detailed spot trading option available in the Advanced section.

For those looking to incrementally invest in cryptocurrencies, Coinbase offers the recurring buy feature enabling a strategy known as Dollar Cost Averaging.

This method allows users to steadily build their positions over time, thus potentially reducing the impact of market volatility.

Coinbase has also recently expanded its trading options to include futures for Bitcoin (BTC) and Ethereum (ETH). They have also added perpetual contracts for BTC, ETH, LTC, SOL, XRP and AVAX with leverage options up to 5X.

Despite being frequently ranked among the top three exchanges globally in terms of 24/7 spot trading volumes, Coinbase faces stiffer competition in the futures market.

For users interested in generating income from their digital assets, Coinbase currently offers a lucrative 5% interest rate on USD Coin (USDC), a stablecoin pegged to the U.S. dollar.

Users also have the option to earn staking rewards by staking cryptocurrencies such as ETH, SOL, ATOM, AVAX and many others. 

Additionally, one of Coinbase's uniquely beginner-oriented offerings is the learn-and-earn program. In this program, users can educate themselves about various blockchain projects and earn token rewards, blending learning with earning.

In the rapidly growing world of Non-Fungible Tokens (NFTs), Coinbase has launched its own NFT platform. This platform enables users to mint, discover, buy, and sell NFTs on prominent blockchains like Ethereum, Base, and Polygon.

For those that wish to use their cryptocurrency holdings for everyday expenses and earn rewards, Coinbase has introduced a Visa Card. This card allows users to spend their cash (USD) or crypto (USDC) and earn rewards on their everyday spending.

Coinbase has also developed the Web 3 Coinbase Wallet for users who prefer a non-custodial approach to managing their cryptocurrency.

This wallet supports the storage and management of thousands of different coins and facilitates easy access to decentralized finance across Bitcoin, Ethereum, Solana, and others.

Recently, Coinbase also introduced the Coinbase One Membership priced at $29.99 per month, offering users benefits such as zero-fee trades, enhanced staking rewards, and priority customer support.

Being a publicly traded company in the U.S., Coinbase is subject to rigorous regulatory and accountability standards, making it one of the safest and most reliable exchanges for trading and storing cryptocurrencies.

This high level of security and compliance is why major institutions like BlackRock and Grayscale trust Coinbase for trading and custody services for a diverse range of cryptocurrencies, including Bitcoin, Ethereum, and Solana.

Lastly, Coinbase Prime provides high-net-worth individuals and institutions with access to advanced trading tools, financing solutions, secure cold storage, staking services, and much more, offering a comprehensive and secure environment for significant cryptocurrency investments.