Fees, Features, Security & More

MEXC and Bybit are two popular centralized crypto exchanges, each offering traders powerful trading tools, competitive fees, and secure trading environments. While both platforms cater to millions of users globally, they appeal to different types of users.

To help you decide on the best exchange for your trading needs, this MEXC vs Bybit review compares the two exchanges across trading features, fees, supported assets, security, customer support, and passive income opportunities.

MEXC vs Bybit: Overview Comparison

What is MEXC Exchange?

MEXC Exchange is a leading cryptocurrency exchange, popular for its wide range of digital assets (3,000+), low trading fees, and high-performance trading engine capable of processing 1.4 million transactions per second. The exchange was founded in 2018 with the vision of building a secure, efficient, and inclusive platform where anyone can easily trade crypto.

MEXC primarily focuses on spot and margin trading, futures, ETFs, and staking services. It also provides features like copy trading, futures trading with high leverage, and a rewards program to incentivize active traders. With millions of users across 170 countries, the crypto trading platform has earned a reputation for its fast trading engine, advanced tools, low transaction fees, and extensive selection of cryptocurrencies (often listing new and trending tokens early).

Pros & Cons of MEXC

MEXC is best for:

• MEXC is often among the first exchanges to list trending projects, making it suitable for traders interested in exploring and investing in emerging projects.
• Zero-fee Trading Pairs: MEXC offers some of the lowest fees in the crypto market. Users can trade spot and futures pairs for as low as 0% and if you have MX holdings, you could get additional 50% and 20% discount on all your transaction costs.
• Advanced Crypto Trading: Over the years, MEXC has expanded aggressively into derivatives, introducing futures trading with up to 200x leverage on select pairs, perpetual contracts, and advanced trading tools.

What is Bybit?

Bybit is a top centralized crypto exchange, founded in March 2018 by Ben Zhou. Before co-founding Bybit, Ben Zhou was a former managing director of XM.com China. Bybit was created to equip crypto investors of all levels with advanced trading features, high liquidity, automated trading tools, and access to the web3 ecosystem.

Bybit was initially recognized as a leading derivatives exchange, but it has since expanded its offerings to include spot trading, options, copy trading, staking, and an extensive Earn suite for passive income opportunities. The platform caters to millions of users across more than 160 countries, consistently ranking among the top exchanges by daily trading volume.

Pros & Cons of Bybit

Bybit is best for:

• Futures and derivatives traders who want access to high leverage, high liquidity, and advanced order types for precise risk management.
• Copy traders and beginners who prefer learning from expert strategies through Bybit’s built-in copy trading and demo trading features.
• Users who are looking for passive income opportunities since Bybit offers multiple passive income options through staking, savings, and its Earn products.

MEXC vs Bybit: Trading Features

MEXC vs Bybit: Platform Products and Services

Here is a rundown of MEXC vs Bybit’s products and services:

What MEXC Offers:

• MEXC Meme+: MEXC Meme+ is a dedicated trading zone that focuses on listing and trading trending memecoins, giving users early access to popular and emerging meme tokens. Meme+ uses MEXC’s order-book model to improve liquidity and trading efficiency while allowing selected memecoins to transition to the main spot market once they meet certain criteria.
• Airdrop+ Campaigns: MEXC frequently runs promotional campaigns tied to new token listings, trading volume challenges, deposit events or referral programmes. The Airdrop+ campaigns reward users with tokens, bonuses, or other incentives for participating in specific tasks.

• Fiat On/Off-Ramps: MEXC Exchange enables traders to easily buy and sell crypto using their local currency. The exchange supports multiple payment methods, including Buy Crypto, P2P trading, and Convert, which allow users to deposit or withdraw funds via credit/debit cards, bank transfers, or peer-to-peer transactions.
• DEX+: MEXC’s DEX+ is a hybrid decentralized-exchange aggregator built into its platform. It provides simplified access to on-chain assets, eliminating the complexity of typical DEX-only interfaces.

What Bybit Offers:

• Bybit Launchpad: Bybit Launchpad is a token‐launch platform that gives users early access to new or pre-listed crypto projects. Users who meet the requirements for participation can commit Bybit’s native token, Mantle (MNT), or USDT through a subscription or lottery model to participate in token sales and then receive the new project’s tokens once the allocation is distributed.

• Trading Bots: Bybit offers four bots—Spot Grid Bot, DCA Bot, Futures Martingale, and Futures Grid Bot—each with distinct functionalities. These bots trade crypto automatically for you, following predetermined rules and strategies you set.
• Bybit Web3: Bybit Web3 gives users access to the web3 ecosystem and a range of features like token swaps and dApp integration. It is integrated into the Bybit app, so users can easily switch between the exchange interface and the web3 wallet.

• Bybit Card: This is a prepaid debit card issued by Bybit that allows users to spend their crypto or fiat balances at merchants worldwide (via Mastercard/Visa in certain regions). It supports automatic conversion of crypto to fiat at the point of sale, offers rewards such as cashback, and integrates with the Bybit ecosystem for funding and payments.
• Islamic Account: Bybit offers an Islamic Account option designed for crypto traders who follow Shariah law. It eliminates interest-based elements such as overnight funding fees, ensuring a swap-free trading experience for Muslim users.

MEXC vs Bybit: Fee Structures

Note: Bybit maintains a tiered fee structure with discounts based on users’ 30-day trading volume. This means that traders with high trading volumes pay less than those with lower 30-day volumes.

MEXC vs Bybit: Coins Supported, Liquidity & Volume

Note: The information above shows available data at the time of writing. Trading volumes change due to trading activity. Please confirm the latest figures from the exchange or a trusted crypto-tracking tool before trading.

MEXC vs Bybit: Security Comparison

Now that we’ve highlighted the key features of both MEXC and Bybit, let’s explore the security features of both exchanges.

MEXC Security Measures

• Cold Storage and Advanced Monitoring: MEXC stores over 95% of user assets offline to limit the impact of a security breach if all assets were stored online. It also implements AI-driven detection and real-time alerts to flag abnormal behaviour, such as logins from unfamiliar devices, large transfers, or rapid series of trades.
• Account Security: MEXC encourages users to enable two-factor authentication (2FA), whitelist withdrawal addresses, use anti-phishing codes, and set IP/device restrictions.
• Insurance Funds: MEXC announced a “Guardian Fund” of US$100 million designed to safeguard users from serious platform incidents such as large-scale hacks, system vulnerabilities, or exploitations. The exchange also has a futures insurance fund that covers deficits when a trader’s liquidation results in negative equity (losses exceed margin).
• Multi-signature Technology: MEXC uses multi-sig technology so that movement of large amounts requires multiple private key authorizations to avoid single points of failure.

Bybit Security Measures

• Cold Storage: Bybit stores the majority of user funds offline in cold wallets, isolated from internet-connected systems, and uses multi-signature, Trusted Execution Environments (TEE), and Threshold Signature Schemes (TSS) to protect wallet access and transactions. 
• Account and Login Security: Users are protected by strong account-level defences: 2FA, anti-phishing codes, new-withdrawal-address locks, and device and IP whitelisting. 
• Real-time Monitoring and Bug Bounty Program: Bybit Exchange monitors user behaviour in real time for suspicious activity and runs a bug-bounty/third-party audit program to find and fix vulnerabilities.
• Insurance Fund: The exchange has a dedicated reserve established to cover unexpected losses from system failures, liquidation issues, or extreme market conditions. This fund acts as a financial safeguard, ensuring users remain protected even during volatile events or unforeseen disruptions.

MEXC vs Bybit: Affiliate & Referral Programs

MEXC vs Bybit: User Experience

From our MEXC review, getting started on the platform is fast and beginner-friendly. One obvious change was the KYC policy. Before now, MEXC allowed new users to register without identity verification; however, this policy was updated a few years back. Nevertheless, the policy change has not affected the onboarding speed.

The MEXC mobile app offers the same products and functionality as the web platform, covering spot and futures trading, copy trading, demo accounts, and Airdrop+ campaigns. However, the interface can feel slightly cluttered due to the numerous tools and promotional banners.

By contrast, our Bybit review shows a more refined and professional trading experience. The onboarding process is also easy, but it includes mandatory KYC verification as part of its compliance measures, which helps ensure better account protection. Once you are in, the trading interface is clean and suitable for beginners and advanced traders.

Beyond trading, the platform offers a web3 wallet, Bybit Wallet, which enables users to interact with decentralised applications (dApps), manage digital assets, and explore decentralized ecosystems directly within the platform. Although the exchange recently streamlined its Web3 offerings, it has phased out its NFT marketplace.

MEXC vs Bybit: Customer Support

MEXC offers a range of support channels, including a 24/7 live chat accessible via the website and app, an email ticket system, and a comprehensive help centre with FAQs and self-service guides. If you have questions or need help, the live chat is the fastest option, with responses in minutes.

Similarly, Bybit provides multiple support pathways, including a help centre for self-help, 24/7 live chat, and ticket/email submission for more complex problems. The help centre covers trading, deposits, withdrawals and more. The live chat provides fast responses, while the email is available for more complicated issues that require human assistance.

User reviews are mixed on both exchanges. While most users report success with quick responses, difficulties getting human agents, and others complain of slow or unhelpful replies, especially when funds or account blocks are involved. 

Conclusion

In our opinion, MEXC and Bybit are both excellent cryptocurrency exchanges offering basic and advanced trading tools for beginners and professional traders alike. If you are looking for extensive trading products, zero-fee transactions, and early access to token launches and airdrops, choose MEXC.

However, if you need access to a robust derivatives platform and the web3 ecosystem, and would like to trade other financial products beyond cryptos, choose Bybit. Do your due diligence by reading our Bybit and MEXC reviews, then take advantage of the welcome rewards available via Bybit referral code and MEXC referral code.

FAQs

Is MEXC a Trusted Exchange?

Yes, MEXC is considered a trusted and reliable exchange. It has been in the crypto market since 2018 and implements robust security measures to protect users’ funds, including SSL encryption, 2FA, cold storage, and an insurance fund to reimburse users in case of a breach.

What Exchange is Better Than Bybit?

Choosing the better exchange between Bybit and others can be challenging, especially since they all offer features that set them apart. To make the best decision, consider factors such as your trading needs, platform security—including past security breaches and how they were handled—supported assets, trading fees, regulatory compliance, and trading experience. However, top Bybit alternatives are MEXC, Binance, Bitget, OKX, and KuCoin.

Which Exchange has Lower Fees: MEXC vs Bybit?

When comparing Bybit vs MEXC in terms of fees, MEXC has lower fees than Bybit, though Bybit’s fees are also competitive.

Which Exchange is More Beginner-friendly: MEXC or Bybit?

Both exchanges are beginner-friendly. However, our review of both exchanges revealed that Bybit is more beginner-friendly than MEXC. It offers “Lite” trading mode, demo options, and guided onboarding, making it easier for newcomers to start trading.

Which Exchange Security is Better: Bybit vs MEXC?

Both Bybit and MEXC prioritize user security through cold-wallet storage, two-factor authentication, encryption, and regular audits. Bybit strengthens protection with multi-party computation and real-time risk monitoring, while MEXC conducts regular system audits to safeguard assets and prevent unauthorized access.

What are the Deposit and Withdrawal Options on MEXC and Bybit?

The withdrawal deposit and withdrawal options on Bybit and MEXC include crypto deposits and withdrawals across supported coins and networks, with fiat deposits available via bank transfer, P2P, debit/credit cards, Google Pay, Apple Pay, and other methods depending on region.