Bybit scores 6 points above Binance, led by trading cost, withdrawal track record, and licence coverage. Binance ranks #4 and Bybit #1 of 17 published exchanges. Every term of the gap is on the ledger below; the inputs are on the audit receipt.
Binance75
vs
Bybit81
Scores are out of 100; published scores fall within 41–99 · ranks #4 and #1 of 17
Bybit scores 6 points above Binance, led by trading cost, withdrawal track record, and licence coverage.
Binance #4 of 1775
Bybit #1 of 1781
Scores are out of 100; published scores fall within 41–99; a bar is empty at 41 and full at 99.
Why, term by termBybit leads on 3 of 4 published criteria; Binance on 1. The terms sum to the gap.
TermBybitBinanceWeightPoints
Trading cost7/105/107.2+3.7for Bybit+1.9 of 32
Withdrawal track record9/107/106.7+3.5for Bybit+1.8 of 32
Licence coverage6/105/105.8+1.5for Bybit+0.8 of 32
Asset protection5/107/104.3−2.2for Binance−1.2 of 32
Net of the terms+6.5
Reproduced gap+6.5
Published gapAfter score rounding and bounds — see the note below8175+6.0
Weight is in points of the 86-point weighted total. Points are score points of the gap between the two.
BybitScore 81Derivatives-heavy global exchange that survived the February 2025 theft of over 400,000 ETH and stETH (worth more than $1.4 billion, in its own announcement) with same-day self-disclosure, open withdrawals and monthly Hacken proof-of-reserves — now two-entity: MiCA-licensed Bybit EU GmbH for the EEA, and for everyone else an offshore entity, Bybit Technology Limited, whose Platform Terms (effective 2 September 2026) hold assets in an omnibus account and say nothing about insolvency.Strength: Withdrawal incident record — 9/10Watch-out: The protections are entity-split and the good half is the small half: an EEA buyer gets Bybit EU GmbH with MiCA segregation and an explicit 'will not use Custody Assets' clause, but every other buyer contracts with Bybit Technology Limited, whose Platform Terms (effective 2 September 2026, read on 2026-09-29) hold your coins in an 'omnibus user account', say nothing about segregation or what happens to them in an insolvency, let the company freeze the account 'at any time and at our sole discretion', and allow larger withdrawals to take up to thirty days.BinanceScore 75Deepest-liquidity global exchange with a published 0.10%/0.10% base spot tier table (25% BNB discount) — now contracting all users through three FSRA-regulated Abu Dhabi (ADGM) entities with trust-based custody, after pleading to U.S. charges in 2023 and exiting the EEA entirely on 1 July 2026 without a MiCA licence.Strength: Withdrawal incident record — 7/10Watch-out: The surface a new account actually lands in — Convert/instant buy — prices in a spread Binance nowhere quantifies behind a 'no additional fees' framing, and the account's freeze grounds are explicitly non-exhaustive and 'may be based on confidential criteria' Binance is 'under no obligation to disclose'; an EU, US or UK buyer cannot open this account at all.
Quick facts
At a glance
1 of 3 rows read the same for both.
FactBinanceBybit
Pro taker feeSnapshotBinance spot fee rates, read 29 September 2026 at https://www.binance.com/en/fee/trading (curl receives an empty HTTP 202 challenge; read through a rendering fetch). Maker / taker, and with the "BNB 25% off": "Regular User" "< 1,000,000 USD" or "≥ 0 BNB" "0.100% / 0.100%", "0.07500% / 0.07500%"; "VIP 1" "≥ 1,000,000 USD" and "≥ 5 BNB" "0.090% / 0.100%"; "VIP 3" "≥ 20,000,000 USD" and "≥ 100 BNB" "0.040% / 0.060%"; "VIP 5" "≥ 150,000,000 USD" and "≥ 1,000 BNB" "0.025% / 0.031%"; "VIP 9" "≥ 4,000,000,000 USD" "0.011% / 0.023%". Volume rule on the same page: "Trade volume includes all Spot volumes from Spot, Margin, Convert, Copy Trading and Trading Bots." Convert, the instant surface (https://www.binance.com/en/support/faq/frequently-asked-questions-on-binance-convert-3289b5fb64634df8ab99d5f3d99b87ab, "Updated on 2026-04-20"): "Binance Convert pricing does not include traditional trading fees when converting cryptocurrencies." and "There are no additional fees beyond the quoted price.", while "the quoted prices for simple conversions may vary from time to time and from the price available on other markets" with no number published for that spread. Per-asset withdrawal fees sit behind "Log in and see a full overview of your fee and transaction history".An EEA reader contracts with Bybit EU GmbH, whose fee page (https://www.bybit.eu/en-EU/fee/spot, re-read 3 November 2026) charges a "Regular User" on "Fiat Pairs" (a EUR purchase) "0.15%" / "0.2%" (maker / taker) under "<100,000" USD of 30-day volume, and "0.1%" / "0.1%" on "Crypto Pairs"; the 28 October 2026 read printed "0.25%" / "0.25%". Everyone else: Bybit Trading Fee Structure, re-read 28 October 2026 and read 29 September 2026 at https://www.bybit.com/en/help-center/article/Trading-Fee-Structure ("Last updated on 2026-09-02 01:17:46"). Spot (crypto-crypto) taker / maker: "VIP 0" "0.1000%" / "0.1000%"; "VIP 1" "0.0800%" / "0.0675%"; "Supreme VIP" "0.0450%" / "0.0300%". Perpetual & futures: "VIP 0" "0.0550%" / "0.0200%", down to "Supreme VIP" "0.0300%" / "0.0000%". Tier rule: "The VIP level is determined based on either your asset balance or your trading volume over the past 30 days, whichever qualifies you for the higher tier."; VIP 1 needs an asset balance of "≥ 100K" or 30-day spot volume of "≥ 1M". Fiat-crypto spot pairs cost more: "VIP 0" "<100,000" "0.2000%" / "0.1500%". Page caveat: "the actual fee rates may vary depending on your region." Retail One-Click Buy by card (https://www.bybit.com/en/help-center/article/FAQ-Bank-Card-Payments): EU Visa/Mastercard "1.1%"; non-EU Visa "3.05%"; non-EU Mastercard "2.7%"; Apple Pay "1.8% + 0.24 EUR fixed cost". Fiat exit, Sell Crypto (https://www.bybit.com/en/help-center/article/FAQ-One-Click-Buy, "Last updated on 2026-09-28 02:47:20"): EUR "2.1% + 5 EUR fixed cost"; USD "2.2% + 10 USD fixed cost".
Asset coverageEditorial——
Region fitSnapshotasia, mena, latameurope, asia, latam
From the published criteria
Which should you pick?
Binance
75#4 of 17
Pick it when
Pick Binance if asset protection matters most — it scores 7/10 to Bybit's 5/10 there (weight 18).
Strength
Withdrawal incident record — 7/10
Tradeoff
The surface a new account actually lands in — Convert/instant buy — prices in a spread Binance nowhere quantifies behind a 'no additional fees' framing, and the account's freeze grounds are explicitly non-exhaustive and 'may be based on confidential criteria' Binance is 'under no obligation to disclose'; an EU, US or UK buyer cannot open this account at all.
Bybit
81#1 of 17
Leads
Pick it when
Pick Bybit if trading cost matters most — it scores 7/10 to Binance's 5/10 there (weight 30).
Strength
Withdrawal incident record — 9/10
Tradeoff
The protections are entity-split and the good half is the small half: an EEA buyer gets Bybit EU GmbH with MiCA segregation and an explicit 'will not use Custody Assets' clause, but every other buyer contracts with Bybit Technology Limited, whose Platform Terms (effective 2 September 2026, read on 2026-09-29) hold your coins in an 'omnibus user account', say nothing about segregation or what happens to them in an insolvency, let the company freeze the account 'at any time and at our sole discretion', and allow larger withdrawals to take up to thirty days.
Self-identify in 10 seconds
Which one is actually for you?
Binance
Choose Binance if asset protection matters most
Asset protection: 7/10 against 5/10 for Bybit (weight 18)
BinanceScore 75Deepest-liquidity global exchange with a published 0.10%/0.10% base spot tier table (25% BNB discount) — now contracting all users through three FSRA-regulated Abu Dhabi (ADGM) entities with trust-based custody, after pleading to U.S. charges in 2023 and exiting the EEA entirely on 1 July 2026 without a MiCA licence.Strength: Withdrawal incident record — 7/10Watch-out: The surface a new account actually lands in — Convert/instant buy — prices in a spread Binance nowhere quantifies behind a 'no additional fees' framing, and the account's freeze grounds are explicitly non-exhaustive and 'may be based on confidential criteria' Binance is 'under no obligation to disclose'; an EU, US or UK buyer cannot open this account at all.
BybitLeads
Choose Bybit if trading cost matters most
Trading cost: 7/10 against 5/10 for Binance (weight 30)
Withdrawal track record: 9/10 against 7/10 for Binance (weight 28)
Licence coverage: 6/10 against 5/10 for Binance (weight 24)
BybitScore 81Derivatives-heavy global exchange that survived the February 2025 theft of over 400,000 ETH and stETH (worth more than $1.4 billion, in its own announcement) with same-day self-disclosure, open withdrawals and monthly Hacken proof-of-reserves — now two-entity: MiCA-licensed Bybit EU GmbH for the EEA, and for everyone else an offshore entity, Bybit Technology Limited, whose Platform Terms (effective 2 September 2026) hold assets in an omnibus account and say nothing about insolvency.Strength: Withdrawal incident record — 9/10Watch-out: The protections are entity-split and the good half is the small half: an EEA buyer gets Bybit EU GmbH with MiCA segregation and an explicit 'will not use Custody Assets' clause, but every other buyer contracts with Bybit Technology Limited, whose Platform Terms (effective 2 September 2026, read on 2026-09-29) hold your coins in an 'omnibus user account', say nothing about segregation or what happens to them in an insolvency, let the company freeze the account 'at any time and at our sole discretion', and allow larger withdrawals to take up to thirty days.
Criterion by criterion
Scorecard
Published criteria · weight in points of 868 of 8 cells scored. Strength is read from the evidence file; the weight is the published one. Methodology
Trading cost
by 2 of 10weight 7.2 of 86Bybit leads
Binance5/10 out of 10
Bybit7/10 out of 10
Withdrawal track record
by 2 of 10weight 6.7 of 86Bybit leads
Binance7/10 out of 10
Bybit9/10 out of 10
Licence coverage
by 1 of 10weight 5.8 of 86Bybit leads
Binance5/10 out of 10
Bybit6/10 out of 10
Asset protection
by 2 of 10weight 4.3 of 86Binance leads
Binance7/10 out of 10
Bybit5/10 out of 10
Score dimensions
weights sum to 86
The published score is five dimensions, each weighted for the category. "Published criteria" is the criteria block above; the other four are the engine's own terms — availability, friction, trust record, measured data. Each bar is one side's points out of that dimension's maximum; the weight beside the name is its points of the 86-point weighted total. The published criteria above can fill 24 of the block’s 30. A weight marked “constant here” belongs to a dimension every ranked product in the category holds at the same value: it still counts in the total, and it orders nothing here.
Availabilityweight 20 of 86
Binance12/20Bybit12/20
Tie
Published criteriaweight 30 of 86
Binance14.2/30Bybit16.7/30
Bybit leads
Frictionweight 10 of 86 · constant here
Binance2.7/10Bybit2.7/10
Tie
Trust recordweight 8 of 86 · constant here
Binance3.2/8Bybit3.2/8
Tie
Measured dataweight 18 of 86
Binance13.2/18Bybit13.2/18
Tie
Decision rulePublished order
Choose Bybit unless the term Binance leads on is the one you are buying.
Pick Binance if asset protection matters most — it scores 7/10 to Bybit's 5/10 there (weight 18).
The published order weighs every criterion the same way for everyone. To weigh them your way, run .
From the published order
Next best action
If this isn't your case
Other matchups worth comparing
How you can lose money here, and what the ranking scores
Custody failure: whoever holds the assets loses or withholds them.
Scored by When this venue broke, did people get their money out — and how would I know? · 28% (Binance 7/10, Bybit 9/10)
Insolvency failure: the firm or issuer that owes you cannot pay.
Scored by If this exchange fails — or freezes me — are the coins legally mine, and on whose terms? · 18% (Binance 7/10, Bybit 5/10)
Regulatory failure: no licence where you are, or a forced market exit.
Scored by Whose licence actually covers me in my country — and can I find it on the register? · 24% (Binance 5/10, Bybit 6/10)
Not assessed by this ranking: Control failure, Liveness failure, Execution failure, Exit failure. A high place says nothing about these; the Methodology tab says what each means.
Also scored, as cost, quality or a summary of several families: What will I actually pay here at my volume — including the spread they don't print? (30%).
Questions
Frequently asked questions
Bybit scores 6 points above Binance, led by trading cost, withdrawal track record, and licence coverage. Published scores, out of 100: Binance 75 (rank 4 of 17 exchanges), Bybit 81 (rank 1 of 17).
ReviewedRe-read in progressOverdue; re-read by 10 November 2026.Methodology v2026.10.18
How this page is reviewed
Reviewed means both products compared here was read against its sources on or after that date; every ranked category is re-read at least every 45 days. Models research, extract and parse. A deterministic engine ranks. Every quote passes an adversarial refute pass.
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