StormGain vs Bybit: Tried & Tested For You In 2024

Trying to figure out which one will be the best between StormGain and Bybit for you? Don’t worry, I heard you. Choosing the right exchange is quite essential, especially during the current times of market volatility.

That is why I am here to compare these platforms for you on various grounds in-depth, that would let you know everything about them before getting your hand on these exchanges.

Let’s start now with a brief introduction to these exchanges.

StormGain vs Bybit: Introduction

StormGain

Starting with StormGain, which has grown extensively in just 3 years. The exchange has been registered in Seychelles with headquarters in London, England. The platform currently executes an everyday trading volume of more than $750 million.

Moreover, the StormGain exchange platform has also been appreciated by multiple mainstream media houses and is also a member of the Blockchain Association of the Financial Commission.

StormGain is also offering a 50,000 USDT funded free demo account that you should definitely take advantage of.

 

Bybit

On the other hand, Bybit is yet another renowned name in the cryptosphere, founded in 2018 and has been headquartered in Singapore. Bybit is available in almost all countries worldwide with customer-centred offerings and easy to understand interface.

StormGain vs Bybit: Supported Cryptocurrencies

Let’s look at what crypto offering these platforms offer.

StormGain

The exchange platform currently supports all the industry’s major cryptocurrencies that, include:

• Bitcoin
• Litecoin
• ZCash
• Ethereum
• DASH
• DAI
• Ripple
• Bitcoin Cash
• Steller Lumens

The listing also includes two prominent stablecoins, USDT and USDC, readily on the platform.

Bybit

On the contrary, Bybit has one of the widest cryptocurrency ranges which counts to over 119 of them, including all the major ones like

• BTC
• ETH
• EOS
• DOGE
• USDT
• XRP 

All these crypto-assets can seamlessly be integrated with the product and order types supported by the exchange.

Verdict: Clearly, Bybit is the winner in this segment as it offers more crypto assets to trade in.

StormGain vs Bybit: Product Offerings

Now, let’s compare StormGain and Bybit on the basis of their product offerings.

StormGain

StormGain offers a wide range of products to choose from that you can use to keep your trading strategies varied and up to date. These are:

• Over-the-Counter Crypto Trading
• Leverage Trading
• Multi-Currency Crypto Wallet
• Options Trading
• Crypto Indices

StormGain offers a maximum floating leverage of 500X but only for the BTC/USDT pair and a maximum of 100X for LTC/USDT, XAU/USDT, XAG/USDT, BCH/USDT, ETH/USDT and three different crypto indices. 

Moreover, it also offers a maximum of 50X leverage for the remaining trading pairs.

Bybit

On the other hand, Bybit offers a wider product offering range which are: 

• Spot Trading
• Derivatives Trading
• Buy Crypto
• Options Trading
• Bybit Earn
• Mobile App
• Trading Bot
• Margin Trading
• Copy Trading
• Futures Trading
• P2P Trading

The exchange offers maximum leverage of up to 100x on almost all the trading pairs available on the platform.

Verdict: Bybit offers far more products than StormGain hence making it a clear winner in this segment. 

StormGain vs Bybit: Order Types

StormGain and Bybit both the platforms offer all the crucial order types to take advantage of the various trends in the market:

StormGain

• Market Order
• Limit Order
• Stop-Limit Order

Bybit

• Market Order
• Limit Order
• Conditional Order

Verdict: Both StormGain and Bybit offer similar order types. Hence, it’s a tie between them in this criterion.

StormGain vs Bybit: Fees Comparison

Now, let’s compare them to one of the most crucial aspects of selecting an exchange, which is their pricing.

StormGain – Trading Fees

The fee structure of StormGain can be classified into three different types. Let’s have a look at them.

StormGain follows a flat fee pricing model for its trading fees, charging a flat 10% from every profitable trade, and there are no charges for over-the-counter trading. 

Debit/Credit Cards Deposit Commissions

StormGain charges a 5% deposit commission when using your debit/credit card, and the maximum deposit amount depends on the currency you choose to make your deposit.

Crypto Deposits/ Withdrawals

There are no deposit fees when you use crypto to deposit. However, when withdrawing, a fee depending upon the currency, is charged. Other than that, there is also a 0.1% fee charged on each withdrawal.

Bybit- Trading Fees

Similarly, the fee structure on Bybit can also be classified into two types which are:

Deposit and Withdrawal Fees

The platform doesn’t charge any deposit fee. But there is a minimum withdrawal fee for your convenience I have mentioned them below:

Withdrawal Fees

Verdict: Bybit is currently offering zero fees for spot trading as well as an affordable and easy-to-understand fee structure, making it the winner in this segment.

StormGain vs Bybit: Account Funding Methods

Now, let’s discuss what funding methods these platforms offer.

StormGain

There are multiple methods for funding your account on StormGain, which are:

• Method 1: Through the address of other wallets, directly fund your StormGain account using your crypto holdings.
• Method 2: Use its most secure and safe payment gateway, SIMPLEX, for credit card transfers.

You can fund your StormGain wallet through its wallet section by selecting your desired crypto asset. After you do this, select the ‘Get’ option, and after that, select your preferred method of funding using the ‘address’ via a QR code or credit card. 

Bybit

Bybit, on the contrary, also offers two methods of funding which are:

• Method 1: Using 59 supported fiat currencies supported on the exchange, the payments are handled by the most trusted payment providers like Mercuryo, MoonPay, XanPool 
•  Paxful, SIMPLEX and Banxa.
• Method 2: Direct, crypto transfers are also supported from your existing wallet addresses.

StormGain vs Bybit: Trading Platform Comparison

Both platforms offer highly reputed and fantastic UI and UX; let’s discuss them now. 

StormGain

Starting with StormGain, its interface offers some of the most highlighting features:

• Order Book
• Order Form
• Technical Analysis Charts
• Recent Trade Widgets

These features make the platform pretty convenient and easy to understand for beginners. Moreover, it is also sophisticated enough for advanced traders. To begin trading on StormGain, you just need to select the trading pair and click ‘Open Order’. 

On StormGain, you can place various order types and use customizable layout options, trading tools and technical indicators for advanced analysis. Its charting system is equipped with indicators categorized by trends, oscillators and volatility.

StormGain trading platform also features a professional chart where you can choose between bar, line, as well as candle chart types for in-depth analysis and you, can choose from 9 different time-frames ranging from 1 minute to 1 month for a comprehensive analysis.

The interface is also equipped with a sentiment meter which lets you determine the market’s sentiment as well as price trends and then ultimately place a long or short trade accordingly.

Bybit

On the contrary, Bybit also is equipped with intuitive functions that work seamlessly well even during market congestion. It can process 100,000 transactions per second. 

Bybit’s charting system is well-built and easy to work through functions which are readily available at your fingertips all the time.

Some of the highlighting features of this exchange are

• The exchange provides an advanced order system allowing you to directly set profit/stop loss at entry, adjust orders placed and receive strategy alerts with one click.
• The dual price mechanism allows for preventing unfair liquidation of positions.
• A robust API refreshes the market data every 20ms with precision.

Bybit also has a mobile application that allows you to trade anywhere and anytime. It is equipped with all the functions and features of the web portal. 

The application seamlessly works with all your Android and iOS devices and has already been downloaded by countless users worldwide.

StormGain vs Bybit: Account Types

Now, let’s quickly discuss in depth what account types are available to choose from based on their verification levels.

StormGain

StormGain offers you two types of accounts to choose from; one is a Real Account, and the other is Demo Account. It is mandatory to be qualified by the KYC procedures in order to trade on Bybit.

Demo Account doesn’t require KYC certification, but as the name suggests, the access is limited. To be verified by KYC following details are required:

• Full name
• Day of birth
• Address
• Nationality
• ID or passport scan

Bybit

On the contrary, is Bybit, on which KYC is mandatory as well for complete accessibility. However, it also gives you an option of anonymous trading but with limited accessibility.

When you register by default, your account is at level 0. Now, when you submit your basic identification documents, like Documents issued by the government of your origin country (passport/ID) and Facial recognition screening.

For the following Level 2, you need to submit proof of residence. All these documents must be submitted by clicking the “Account & Security” tab and selecting the “Verify Now” option.

Once your documents are accessed and verified (within 48 hours of upload), you will receive an approval email, and you can trade with unlimited access.

StormGain vs Bybit: How to get started?

Now, allow me to tell you how you can start your journey with these fantastic platforms. 

StormGain

Starting with StormGain, follow the steps below:

1. Click the “Create an account” tab in the top right corner of the homepage.
2. Enter your valid email, phone number, and password. Accept the mentioned terms and conditions, and then confirm that you are not a US citizen.
3. Click the ‘Register’ button, and then your account registration process completes. A confirmation link will be then sent to your registered email address; click to verify your account.

Bybit

You can follow these steps to register on Bybit: 

1. Go to the Bybit website and click the “Sign Up” button on the top.
2. Choose your preferred registration method- contact number or email. Under both methods, you must enter the required information and the code you’ll receive depending on your chosen method.

You can register via your telegram or google account as well. Once you’ve registered, complete the KYC procedures according to your requirements and start trading.

StormGain vs Bybit: Customer Support

StormGain

StormGain has a responsive and dedicated customer support team available 24×7 at your service. It also has a separate section for FAQs and tutorials that is quite beneficial for finding instant answers to your queries as well as guiding new traders on the platform.

Bybit

On the contrary, Bybit also provides 24×7 support through live chat and email via multiple languages, which is helpful for users worldwide. The customer support team is quite knowledgeable and responsive as well.

StormGain vs Bybit: Security Features

StormGain

Security on StormGain is top-notch, with all the industry’s advanced security systems. Security features like SSL encryption, PCI-DSS and GDPR compliance, Real-time monitoring, quarterly security audit and two-factor authentication make the platform a fortress.

Bybit

On the other hand, Bybit provides an impenetrable security system with cold wallet fund storage and an advanced encryption system. 

It has a rigid and regulated policy towards its system security, crypto-asset consolidation, monitoring, operations, and audits, offering two-factor authentication and SSL encryption.

• Is StormGain safe?

StormGain is not only a legitimate platform but has the most user-friendly and secure trading platform, which is easy to understand for beginner traders as well as sophisticated enough for advanced traders.

• Is Bybit safe?

Yes, Bybit is surely a safe platform that implements all the top-notch security features, highly reputable customer assistance, and military-grade cold wallet security that ensures your funds are not going anywhere.

Conclusion

All in all, both StormGain and Bybit are the best in their segments. Both of them are well-established that are completely safe and secure for your investments. These platforms are equipped with some of the industry’s best tools that let you gain optimum profits.

When it comes to the best platform for you, I would recommend StormGain if you are new to the cryptoverse and are looking forward to learning; its easy-to-use interface will be the best option for you to start with.

In contrast, if you are an experienced trader and are already familiar with advanced features and products, then look nowhere other than Bybit.

It has everything you would need to execute profitable trades in various market conditions and gives you the best trading experience.