Bybit Alternatives | Which Are The Top 5 Best Options?

Kraken was established in 2011, is a renowned cryptocurrency exchange based in San Francisco, United States. With a dedicated team of over 2,000 employees, Kraken operates in 190 countries, prioritizing security, reliability, and extensive support for crypto and fiat currencies.

With a user base exceeding 9 million, Kraken primarily serves customers in North America and Europe. The platform offers a comprehensive suite of services, including spot trading, margin trading, futures trading, and staking.

Kraken's user-friendly interface caters to both novice and experienced traders, simplifying the process of trading over 200 cryptocurrencies. Additionally, Kraken provides leveraged products for advanced traders and an NFT marketplace.

With daily spot trading volumes ranging from $300 to $600 million, Kraken maintains strong liquidity. Trading fees on Kraken are competitive, starting at 0.16% for spot trading and as low as 0.02% for futures trading.

Kraken supports deposits in seven fiat currencies, including USD, EUR, CAD, AUD, GBP, CHF, and JPY, offering a variety of deposit methods. Fiat withdrawals are accessible for all supported currencies, with fees dependent on the chosen withdrawal method.

Read more in our Kraken Exchange Review.

eToro established in 2007, is a renowned social trading and multi-asset investment platform operating globally. Registered in Seychelles, it has over 2,000 employees and serves clients in 140 countries.

While some countries are restricted, eToro offers a user-friendly interface and innovative social trading features. Users can trade a wide range of financial instruments, including stocks, commodities, indices, currencies, and cryptocurrencies.

With a user base of 30 million and 10 million app downloads, eToro's community-driven approach enables users to follow and replicate the trades of experienced investors. Signing up on eToro is a swift process, taking just a minute, but KYC verification is mandatory for trading.

eToro provides a diverse product range, including 80 cryptocurrencies, 3,000 global stocks, various indices, 30 commodities, 300+ Exchange Traded Funds (ETFs), and over 50 fiat currencies.

Trading fees on eToro consist of a 1% fee for cryptocurrency buying and selling, without volume rebates. The platform supports USD, EUR, GBP, and AUD as fiat currencies, and users can deposit funds via bank transfer, PayPal, Skrill, Neteller, and credit/debit cards.

Fiat deposits on eToro are free, while withdrawals can be made to bank accounts or debit cards with a $5 withdrawal fee.

eToro places strong emphasis on security and regulatory compliance, operating under the oversight of respected regulatory bodies such as FCA, CySEC, and ASIC. The platform implements robust security measures, including two-factor authentication and industry-standard encryption.

Explore further with our eToro Exchange Review.

MEXC Global was founded by John Chen in 2018 and registered in Seychelles, is a centralized cryptocurrency exchange with a team of over 500 employees. The platform operates in more than 200 countries and boasts a user base of over 6 million.

However, certain regions such as the United States, Canada, and OFAC countries face restrictions on access. MEXC offers an extensive selection of over 1,000 cryptocurrencies and 2,000 trading pairs, providing users with ample opportunities for trading and investment.

While KYC verification is not mandatory, completing primary or advanced KYC levels unlocks additional features and higher withdrawal limits for users.

MEXC caters to a diverse range of trading preferences, offering spot trading, leveraged ETFs, margin trading, quantitative trading, futures trading, copy trading, and demo trading.

With a daily spot trading volume surpassing $1 billion, MEXC offers significant liquidity and ranks among the top 10 exchanges in terms of trading volume. For futures trading, the platform provides leverage of up to 200x, while margin trading offers leverage of up to 10x.

rading fees on MEXC differ across products, with spot maker fees set at 0.2% and the potential for fee reductions for MX token holders. For futures trading, makers are not charged any fees, while takers incur a 0.02% fee.

Spot trading supports various cryptocurrencies, and users have the option to purchase crypto using credit/debit cards with a 2% purchase fee. Bank transfers via SEPA are available for EUR and GBP, and P2P trading is supported for VND, RUB, and KRW.

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Discover more in our MEXC Exchange Review.

Changpeng Zhao established Binance in 2017 as a centralized cryptocurrency exchange based in the Cayman Islands. With a workforce of over 6,000 employees, Binance operates in 186 countries and serves a user base exceeding 140 million worldwide.

However, certain regions like the US, Ontario, Iran, and Syria have restrictions. Registering on Binance is a swift process but users must complete a Know Your Customer (KYC) verification by submitting required information and documents.

Binance offers a wide range of services, including spot trading, futures trading, margin trading, perpetual swaps, options trading, staking, earning products, and a launchpad for new projects.

Supporting over 350 cryptocurrencies, Binance is renowned for its high liquidity with daily spot trading volumes consistently surpassing $10 billion. Binance allows leverage of up to 125x on futures, empowering users to maximize their potential returns.

Trading fees on Binance include a spot maker fee of 0.1%, which can be reduced for high-volume traders or users holding a minimum of 25 BNB tokens.

Binance supports 26 fiat currencies, providing various deposit options such as bank transfers (Swift, Signet, SEPA, Faster Payments), Visa, Mastercard, PayID, and Advacash, each with different deposit and withdrawal fees.

Regulatory compliance is a core focus for Binance, as evident from its registrations as a Digital Asset Service Provider (DASP) and Virtual Asset Service Provider (VASP) in multiple countries.

Learn more in our Binance Exchange Review.

Established in 2017 by Star Xu, OKX is a prominent cryptocurrency exchange headquartered in Hong Kong and registered in Seychelles.

With over 1000 employees, OKX operates in 180 countries, serving as a comprehensive trading platform for a diverse range of services, including spot trading, margin trading, perpetual contracts, futures, and options.

OKX has garnered a user base of 20 million traders, providing access to trading over 350 cryptocurrencies. OKX prioritizes user experience, offering a user-friendly interface and ensuring high liquidity with average daily spot trading volumes ranging from $500 million to $1 billion.

The exchange implements competitive trading fees, with spot trading fees set at 0.08% for makers and 0.10% for takers. For futures trading, makers are charged a 0.02% fee, and takers pay 0.05%.

Although OKX does not support fiat currency deposits, users can purchase cryptocurrencies using a credit/debit card or third-party payment providers. OKX holds a Virtual Asset (VA) license in Dubai, ensuring regulatory compliance and user security.

Get the full insight with our OKX Exchange Review.

WhiteBIT, founded by Volodymyr Nosov in 2018, is a centralized cryptocurrency exchange headquartered in Estonia and registered in Lithuania. Employing approximately 200 individuals, WhiteBIT operates in over 180 countries, excluding the U.S., Virgin Islands, Canada, Spain, and OFAC countries.

While primarily serving customers in Europe, WhiteBIT boasts an estimated user base of 2 million. The exchange offers an extensive range of services, including spot trading, margin trading with leverage of up to 20x, futures trading with USDT collateral and leverage of up to 20x, and Earn products.

WhiteBIT supports a vast selection of over 270 cryptocurrencies, including popular options such as BTC, ETH, SOL, ATOM, USDT, and XRP, along with a wide range of more than 350 trading pairs. S

ign-up on WhiteBIT is a swift process, involving the provision of an email, password, and confirmation of non-residency in restricted countries. However, to deposit cryptocurrencies or commence trading activities, users must complete KYC verification.

WhiteBIT provides a comprehensive product range, encompassing spot trading, margin trading, futures trading, and financial products like crypto lending. A

With its user-friendly interface, WhiteBIT offers a pleasant user experience suitable for both novice and experienced traders. The 24-hour spot trading volume on WhiteBIT typically falls within the range of $500 million to $1 billion, highlighting its significant liquidity.

The maximum leverage available on the platform is 20x. Spot trading fees vary across trading pairs but never exceed 0.1% for both makers and takers.

WhiteBIT supports deposits in 10 fiat currencies, including USD, EUR, GBP, TRY, PLN, and CZK, and offers multiple deposit methods such as Visa/Mastercard, SEPA transfers, Advcash, and NixMoney.

Deposit fees range from 0.2% for SEPA transfers to 1.5%-2% for credit/debit card deposits. For fiat withdrawals, users can withdraw the same 10 supported fiat currencies, with withdrawal fees varying depending on the currency and method chosen.

Read our WhiteBIT review