eToro has some of the highest trading fees in crypto, users incur a 1% fee when opening a trade. All withdrawals in USD are charged a $5USD fee and any other fiat currency withdrawal will incur a $5USD fee + a forex conversion fee. As for deposits, most methods are free but credit/debit card deposit incur a 1% fee.
Bybit on the other hand offers some of the lowest trading fees in crypto starting from 0.1% and getting as low as 0.01% (for high monthly trading volume). All deposits are free on Bybit and withdrawals are free but you need to cost the gas fee when withdrawing cryptocurrencies to an external wallet.
Winner: Bybit is the clear winner as it offers lower trading, deposit & withdrawal fees.
eToro is the largest and most diverse multi-asset brokerage platform in the world. In addition to cryptocurrencies, eToro users have access to stocks, commodities, currencies, ETFs and indices. It is the only cryptocurrency exchange to offer investment in traditional financial products. However, the only downside eToro has is its lack of cryptocurrencies, only supporting 50 tokens.
Bybit is a traditional centralised cryptocurrency exchange and only supports cryptocurrencies and options on its platform. In saying that, the amount of cryptocurrencies offered on Bybit is significantly higher than eToro. You can currently access over 300 cryptocurrencies on the Bybit exchange.
eToro unfortunately only supports Spot trading on its platform and are yet to implement a futures/derivatives trading feature.
Bybit currently supports Futures (derivatives) trading - Inverse Perpetual, Inverse Futures, USDT Perpetual, USDC Perpetual, USDC Options & Leveraged Tokens. It also supports Spot & Margin trading.
Winner: Bybit offers considerably more trading options than eToro with multiple types of derivatives/futures trading.
eToro is currently regulated in over 60 countries and is considered one of the most secure cryptocurrency exchanges in the world. The platform has been operating for over 15 years and has never been subjected to a cyber attack. It operates in accordance with the ASIC, AUSTRAC & FCA. All of its clients’ funds are kept in secure tier 1 banks and their information is guarded under SSL encryption. All users must KYC to use the exchange.
Bybit is not regulated in Australia or any country, this doesn’t mean that it isn’t considered a safe exchange. When an exchange isn’t regulated it doesn’t require users to KYC (verify their identity). There are a lot of users that prefer to keep their identity hidden when buying cryptocurrency, this makes Bybit a popular platform to use in crypto-banned countries. It has never been subjected to a hacking incident or cyber attack.
Winner: eToro is definitely a more secure exchange than Bybit ensuring all users funds are secure and adhering to multiple countries cryptocurrency regulations.
eToro doesn’t offer any features on its platform besides its multiple asset classes. It does offer cryptocurrency staking but only for Cardano, Tron & Ethereum and the APY (Annual Percentage Yield) is low.
Bybit has a myriad of features available on its platform including an NFT Marketplace, a P2P exchange, Launchpad & Launchpool, 5 different types of staking options (including double sided and single sided staking) and an online gaming feature.
Winner: Bybit offers more features on its platform and offers users a variety of options to invest in and earn from.
eToro offers a Live Support feature on its platform and you can also reach its team via email (firstname.lastname@example.org) and telephone (18882718365). As well as multiple online communities - Instagram, Twitter, Youtube & Facebook.
Bybit also supports a 24/7 Live Support features on its platform and offers customer service in over 30 languages. The customer support team can also be reached on email. They have many online communities including Telegram, Discord, Youtube, Reddit, Twitter, Facebook, Instagram, TikTok, LinkedIn, Trust Pilot & Medium.
Winner: Bybit offers support in over 30 languages and has multiple online communities.
eToro supports a mobile version of their website on both iOS and Android. The app is currently rated 3.6 stars from 1.2K review on the app stores. It offers the same functionality as its web version.
Bybit offers a mobile version of their platform on iOS and Android aswell. It is ranked 3.9 stars out of 900 reviews and is ranked #56 overall in Finance on the app store. Users have access to markets, their portfolio and all the features that the web version offers.
Winner: Bybit has a higher ranking overall and has a better rating than eToro.
Bybit is by far the superior cryptocurrency investing platform as it offers significantly lower fees, more cryptocurrencies, a more diverse selection of features and doesn’t require its users to KYC.
To learn more about Bybit and its assets, you can visit our Bybit Review.
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