Huobi and Bybit are the most prominent names in the crypto market. Huobi is among the top listed cryptocurrency exchanges offering spot and futures trading in a vast collection of crypto assets. Bybit, on the other hand, is the largest exchange in terms of trading spot, futures and other derivatives.
Similar offerings make it quite difficult for users to choose the best between them. I know you, too, are curious to know which of the two is the best. So, I will compare them for you on 10 different criteria, and you will be able to make the best choice that would fit your trading aspirations.
Let’s begin with some basics about these exchanges.
Huobi vs Bybit: Introduction
Huobi Global is one of the leading cryptocurrency exchanges with a stronghold in the Asian market. It was founded in 2013 in Beijing. The platform quickly grew its dimensions, becoming one of the three biggest crypto exchanges in China, providing abundant liquidity for Bitcoin traders.
Subsequently, the upcoming regulations in 2017 forced the company to be incorporated in Seychelles and set up its new headquarters in Singapore. Huobi currently boasts more than 10 million users with more than 200 regional service centers across the globe and is now offering a 700 U welcome bonus on new signups.
Whereas Bybit was founded in 2018, headquartered in Singapore, and registered in the British Virgin Islands.
It is comparatively younger than Huobi but has tremendously captured the crypto market in a brief period. Bybit focuses on product, security and compliance, which has helped it to acquire users from around the globe, recognising it as one of the most iconic and trusted exchanges in the market.
Huobi vs Bybit: Supported Cryptocurrencies
When it comes to Huobi’s available cryptocurrencies, there are more than 300 of them available readily on the platform. These include Bitcoin, Ethereum, Dogecoin and many more. Hence, you will likely find the crypto you are looking for on Huobi.
Bybit has one of the most dynamic and carefully enlisted cryptocurrency collections. With more than 119 crypto assets, including all the major ones like BTC, ETH, USDT, XRP, DOGE etc., I am sure you won’t be disheartened even a bit.
Verdict: Huobi is a clear winner in this segment as there is more than double the collection of what Bybit offers.
Huobi vs Bybit: Product Offerings
- Spot Trading
- Margin Trading
- Trading Bot
- Derivatives Trading
- Options Trading
- Spot Trading
- Derivatives Trading
- Leveraged Trading
- Trading Bot
Verdict: Both the platforms offer similar types of products to trade in; therefore, it’s a tie between them in this segment.
Huobi vs Bybit: Order Types
- Market Order
- Stop-Limit Order
- Limit Order
- Trigger Order
- Market Order
- Limit Order
- Conditional Order
Verdict: They don’t have much difference in this segment; hence it’s a tie again.
Huobi vs Bybit: Fees Comparison
Huobi labels its users into normal and professional users and categorizes the fee structure into a tiered system. Users with a 30-day trading volume of below 1,000 BTC are categorized under normal users, and above that are classified as professional users.
For a better understanding, you can refer to the following tables.
Normal Trader Tiered Fee Program
|Type||Level||30-day trading volume (BTC)||Base fee rate||HT holdings||Fee Rate (in HT)||Effective Discount|
|Normal users||1||< 1000 BTC||0.2000%||≥10HT||0.1800%||10%|
Professional Trader Tiered Fee Program
|Type||Level||30-day trading volume (BTC)||HT holdings||Tiered fee rate|
|Both Conditions Required||Maker||Taker|
|Professional Users||1||≥700 BTC||≥2,000 HT||0.0362%||0.0462%|
|2||≥1,000 BTC||≥2,000 HT||0.0294%||0.0420%|
|3||≥3,500 BTC||≥2,000 HT||0.0294%||0.0378%|
|4||≥7,000 BTC||≥2,000 HT||0.0252%||0.0336%|
|5||≥10,000 BTC||≥2,000 HT||0.0224%||0.0308%|
For Huobi’s futures trading fees, refer to the table below:
|Trading Pair||Maker Fee||Taker Fee||Delivery Fee|
|Spot Trading||Perpetual & Futures Trading|
|VIP Level||Taker Fee Rate||Maker Fee Rate||Taker Fee Rate||Maker Fee Rate|
Deposit and Withdrawal Fees
Bybit doesn’t charge any deposit fee on the platform. However, there is a withdrawal fee charged which is pretty minimal; I have mentioned them below:
Verdict: Both the exchanges provide a competitive fee structure, but clearly, Bybit takes the lead in this segment with straightforward and affordable fee charges.
Huobi vs Bybit: Account Funding Methods
- Method 1: Huobi accepts fiat currencies, but not all the deposit methods are supported for all currencies; for example, EUR deposits are supported on credit/debit cards, and for EUR balance, SEPA and IDEAL are the payment options.
- Method 2: In the case of INR, it is supported by credit/debit cards, UPI as well as bank transfers. For USD, only credit/debit cards are available.
- Method 1:Bybit also supports 59 fiat currencies. The payments through your account on Bybit are handled by some of the most trusted third-party payment providers like Banxa, XanPool, Simplex, Paxful, MoonPay and Mercuryo.
- Method 2: You can also fund your account through cryptocurrency transfers from your wallet.
Verdict: Both the platforms offer similar deposit methods, but Bybit has a little upper hand in this aspect with comparatively more fiat availability and security.
Huobi vs Bybit: Trading Platform Comparison
Huobi consists of two charting systems, a proprietary system and TradingView. Both are equally great. However, the TradingView has more features. The terminal contains a watchlist on the left where you can mark your favourite pairs to access them from the quick menu.
Below that chart is the order form to place orders like limit, market, stop-limit and trigger. The right side of the terminal contains an order book and live trades. The bottom-most area shows open orders and open history. You can place regular, 3x long, 3x short, 5x margin and credit card orders in the order form.
The exchange also provides mobile platforms for Android and iOS devices with the desktop platform.
The trading platform and the interface of Bybit are equipped with all the options for optimized trading. Its interface is one of the favourites among the leading exchanges I have used so far. It fits both beginners and advanced traders.
No matter what your trading strategy is, Bybit will fit in it. It also provides a Dual Price Mechanism that protects you from price manipulations. Bybit also includes something called Testnet, which helps new traders understand the platform’s functions and features without involving your hard-earned money.
Verdict: With personal experience on both of these platforms, I must say that Bybit has an overall better trading interface with all the tools and products readily available at your fingertips, which are also easily modifiable.
Huobi vs Bybit: Account Types
A similar account accessibility structure is followed on Huobi, with four different verification levels. When you register on the exchange, you will be at level 1; here, you won’t be able to make any deposits or withdrawals. To do that, you need to upgrade to Level 2.
You can even upgrade to further levels to get access to limitless trading and all the features that Huobi offers.
Bybit only allows unlimited trading when your account is 100% verified through KYC. It also gives you an alternative to trade without verification but with limited accessibility.
By default, without any KYC, your account will be recognized under level 0 on registering on the platform. However, the daily withdrawal limit will be set to 2 BTC.
In the next level, which is level 1, you need to submit a request by following these steps:
- Click the “Account & Security” tab present in the upper right-hand corner of the main page.
- Click the “Verify Now” tab in the “Identity Verification” column under the “Account Information” tab.
- Click “Verify Now” under Lv.1 Basic Verification.
- Documents issued by your country of origin (passport/ID).
- Facial recognition screening.
For level 2 account verification, follow these steps:
- Click the “Account & Security tab present in the upper right-hand corner of the main page.
- Click the “”Verify Now”” tab in the “”Identity Verification”” column under the “”Account Information”” tab.
- Click “”Verify Now”” under Lv.2 Residency Verification.
Proof of residential address
Once your documents are verified (within 48 hours of upload), you will receive an approval email, and then you can withdraw up to 100 BTC equivalent funds per day.
Huobi vs Bybit: How to get started?
Register using your email address and password to open an account. Then get your email ID verified using email confirmation.
Then fill in the registration form and confirm your identity; you can trade as soon as you fund your account using a favourable method.
Similar to Huobi, you can register yourself on the platform via a phone number or email. After you register and complete your KYC, you can follow the following steps to deposit and withdraw.
Making a deposit
- Click on the deposit section of the Bybit exchange page and tap assets on the bottom toolbar.
- Choose which cryptocurrency you want to deposit from the list.
- On the next screen, you’ll get a QR code of your Bybit account address.
- Copy the deposit address, then paste it into the recipient address field of the wallet from which you want to send your funds.
Making a withdrawal
- Choose the crypto you want to withdraw.
- Fill in the details of your withdrawal and enter the intended receiving address from the wallet you want to withdraw and the amount you wish to withdraw.
- Double-check the address and tap Submit when you have entered your details.
Huobi vs Bybit: Customer Support
It provides a comprehensive help centre that includes almost all your query-related solutions. You can also connect to them through their customer service portal, which is easily accessible from their website.
On Huobi, you can raise a ticket for any queries. Huobi also has an up-to-date FAQ section with a blog publishing the latest news, guides and articles.
On the other hand, Bybit provides support through live chat and email in multiple languages like English, Korean, Russian, Chinese, Japanese, Spanish and Vietnamese, which is helpful for users worldwide.
Using their customer service portal myself, I must say that the customer representatives of Bybit are pretty knowledgeable, quick and responsive. Not only me, but users from around the world have also rated the portal pretty well.
Huobi vs Bybit: Security Features
For a secure trading experience for the users on the platform, Huobi implements state-of-the-art security features. They use an impenetrable combination of cold and hot storage wallets, where most of the funds are stored in cold wallets to enhance the safety of your funds.
Huobi also offers two-factor authentication via google authenticator and insurance of 20000 BTC with something called “The Security Reserve Mechanism”.
Bybit has an impenetrable security system where they spend 20% of the annual budget, which is more than the industrial average. Bybit stores all the deposit addresses in cold wallets worldwide with an advanced encryption system.
Moreover, Bybit has a rigid and regulated policy regarding system security, crypto-asset consolidation, monitoring, operation authentication and audit. The platform also integrates two-factor authentication and SSL encryption for a safe and secure user experience.
Verdict: Both platforms offer similar customer support and security features. Therefore, it’s a tie between them in these segments.
- Is Huobi safe?
Huobi is pretty safe regarding the platform’s security, with a solid track record. The platform has never been hacked. The team pays close attention to the platform’s security and continuously monitors its payment gateway systems to ensure that the safety is up to date.
- Is Bybit safe?
A clear answer to this is yes; Bybit is a pretty safe and legitimate platform. With a military-grade security system, responsive customer system and stringent regulation policy, your funds are secure with Bybit.
Bybit and Huobi are pretty similar in their offerings, but when comparing them to their core, it turns out that Bybit is a better choice. Bybit offers similar products but at a very competitive fee structure, even better than most industry leaders.
Being both beginner-friendly and advanced trading suitable, Bybit is everything you will need to skyrocket your profits with a safe and secure ecosystem.