Before we dive into the detailed analysis, here's a comparison of Binance and Bybit that shows the most important data for both platforms at a glance.
Important note: Binance will not be able to provide normal services to new users in the European Union starting in July 2026, following the withdrawal of its MiCA license application in Greece. Users who already have accounts retain limited access to withdraw or transfer funds, but should not assume that they can deposit euros or open new positions as usual. Outside the EU, Binance continues to operate normally in most jurisdictions..
Overview of Binance
Binance is a cryptocurrency exchange founded in 2017 by Changpeng Zhao and Yi He. It has become the industry's largest platform in terms of trading volume and users, with more than 320 million registered accounts and a global selection of over 700 cryptocurrencies.
Pros
Spot fees of 0.10% and an additional discount with BNB
Greater global liquidity and a very broad range of markets
Ecosystem featuring Earn, bots, Launchpool, P2P, and a Web3 wallet
SAFU Reserve Fund and Emergency Fund Test
Cons
No MiCA license and no normal operations as of August 2026
Complex corporate structure and regulatory history
A complex platform that is difficult for beginners to master
Trustpilot removed its rating for violating its guidelines
Binance maintained national registrations in various European countries, including Spain, but those registrations never amounted to a MiCA license. After withdrawing its application with the Greek regulator in June 2026, the company reached the end of the European transition period without a valid authorization to operate throughout the European Union—a situation that does not apply to Bybit’s Austrian entity.
Outside the EEA, however, Binance remains a leader in terms of liquidity and offerings: it supports over 700 cryptocurrencies and maintains an ecosystem that includes Earn, bots, Launchpool, P2P, and a Web3 wallet. That scale remains a real advantage for global users, although it no longer compensates for the lack of authorization when viewed from an EEA country. View full Binance review
Who is Binance for? Outside the EEA, for users seeking maximum liquidity, more than 700 cryptocurrencies, and a platform offering virtually any trading tool.
Overview of Bybit
Bybit is an exchange founded in 2018 that has historically focused on trading. The global brand claims to have over 80 million users and offers spot trading, derivatives, bots, Earn, a credit card, payment services, and tools for professional traders.
Pros
Global presence and licenses in the UAE, Europe, and other markets
Order book, derivatives, bots, copy trading, and API
Monthly Proof of Reserves with Merkle Verification
Earn flexible and fixed rewards, a card, and numerous fiat payment methods
Cons
Products, fees, and financial institutions vary by country
Not available in the United States, Canada, or mainland China
It suffered the largest hack of an exchange in history in February 2025
Trustpilot has received many complaints about account suspensions and customer support
Bybit organizes its operations through various regional entities; within the EEA, Bybit EU GmbH obtained MiCA authorization from the Austrian FMA in May 2025, something Binance has not yet achieved in any EU country. This regulatory difference is crucial for any user residing in Spain or another EEA country.
Otherwise, its spot rate of 0.10 % matches Binance’s, so the fee comparison ends in a tie. The learning curve is also similar for both platforms: Bybit’s unified account and Binance’s Pro mode require some familiarization before you can trade with ease. See the full Bybit review
Who is Bybit for? For users looking for a trading-focused platform who want to combine spot trading, derivatives, bots, copy trading, Earn, and payments—with the added benefit of a MiCA license in Europe. It’s better suited for intermediate or advanced users than for someone who just wants to buy Bitcoin once a month.
Fees and Deposits: Binance vs. Bybit
In terms of pure fees, Binance and Bybit are practically tied: both charge 0.10 % for makers and 0.10 % for takers in their initial global tier. Binance can reduce its fee even further to 0.075 % when paying with BNB, while Bybit offers progressive discounts based on balance or volume through its VIP tiers.
| Platform | Maker | Taker |
|---|---|---|
Bitget
|
0,10% | 0,10% |
|
Binance
|
0,10% | 0,10% |
|
Bybit
|
0,10% | 0,10% |
Finst
|
0,15% | 0,15% |
Bitvavo
|
0,15% | 0,25% |
Kraken
|
0,25% | 0,40% |
Coinbase Advanced
|
0,40% | 0,60% |
Did you know? Buying €1,000 worth of Bitcoin costs exactly the same on Binance as it does on Bybit: €1 as a taker with a base fee of 0.10 %. With the 25% discount for paying with BNB, Binance can lower that cost to €0.75, while Bybit reduces its fee based on the VIP level achieved.
Deposits and withdrawals
This is where the comparison becomes asymmetrical. Bybit supports SEPA deposits and other fiat payment methods depending on the user’s country of residence. Binance, on the other hand, will not be able to offer euro deposits to new European users as usual starting in July 2026, as it does not hold a MiCA license.
| Concept | Binance | Bybit |
|---|---|---|
| Spot commission (initial tranche) | 0,10 % / 0,10 % | 0,10 % / 0,10 % |
| Additional discount | Up to 25% when paying with BNB | VIP Levels Based on Balance or Volume |
| SEPA Deposit in Spain | Restricted for new users in 2026 | Varies by region |
| Opening a Bank Account in Spain | Not available to new users in 2026 | Available through Bybit EU |
| Crypto Deposit | 0 €; the network is paid for | 0 €; the network is paid for |
| Crypto Withdrawal | Varies by asset and network | Varies by asset and network |
Overall, the fee announced by Binance will no longer be relevant to European users in 2026: before comparing fees, there must first be legal access to the product. Bybit, with its authorized European entity, is the practical alternative for those seeking that same competitive fee within the MiCA framework.
Who regulates Binance and Bybit?
Binance maintained national registrations as a virtual asset service provider in several European countries, including Spain, but those registrations never granted it the European “passport” of a MiCA license. After withdrawing its application with the Greek regulator on June 24, 2026, the transition period ended on July 1, and the company was required to begin an orderly exit from the EU. Bybit EU GmbH, on the other hand, obtained its MiCA authorization from the Austrian FMA On May 28, 2025, with coverage in 29 of the 30 EEA countries.
Important note: As of August 5, 2026, Binance cannot accept new customers or provide standard cryptoasset services in Spain. Existing users may have limited functionality to close positions, withdraw, or migrate assets, but they should not interpret this as a current European authorization. The official text of MiCA can be found at EUR-Lex, Regulation (EU) 2023/1114.
| Concept | Binance | Bybit |
|---|---|---|
| Regulated by | No MiCA license; prior national registrations | FMA (MiCA, Austria), VARA (UAE), SCA |
| MiCA Coverage (EU/EEA) | No, application withdrawn in June 2026 | Yes, starting in May 2025 (excluding Malta) |
| Reservation Test | Yes, with Merkle and zk-SNARK | Yes, monthly with Merkle verification |
| Internal Protection Fund | SAFU, an emergency fund since 2018 | No equivalent public emergency fund |
| Regulatory History | 4,300 M$ Agreement with the U.S. in 2023 | Hack of 1,400–1,500 M$ devices in February 2025 |
The regulatory difference between the two platforms is, by far, the most significant factor in this comparison for a European user. Bybit can operate normally in the EEA thanks to its Austrian entity, while Binance is still in the midst of an orderly exit from the European Union. No fee structure or feature set can make up for that difference if you live in Spain.
Where are Binance and Bybit available?
Binance states that it operates in more than 180 countries, although as of July 2026, EEA countries are not listed as available due to the lack of MiCA authorization. Bybit, for its part, provides services in more than 160 countries, excluding the United States, Canada, mainland China, Hong Kong, and Singapore, among other jurisdictions.
The United States appears differently on the Binance map, as that market operates through the independent platform Binance.US, with terms and a product lineup that differ from those of Binance Global. Bybit, on the other hand, directly excludes the United States from its coverage, without offering an equivalent local alternative.
What do Binance and Bybit offer on their platforms?
Binance organizes its ecosystem into Lite mode and Pro mode within the same app, featuring spot trading, margin trading, futures, options, Earn, Launchpool, P2P, and a Web3 wallet. Bybit, on the other hand, focuses on spot trading, derivatives, bots, copy trading, Earn, and an open API designed for automated strategies.
| Concept | Binance | Bybit |
|---|---|---|
| Available Apps | Lite/Pro App, Web, Desktop, Binance Wallet | Regional app, website, API, and subaccounts |
| Cryptocurrencies | +708 | +700 |
| Main Products | Spot, Margin, Futures, Options, Earn, Launchpool, P2P | Spot, derivatives, bots, copy trading, Earn |
| Automation | Convert Recurring, TWAP, and Iceberg | DCA Bot, Copy Trading, and Open API |
| Unique Product | Launchpool, BNB, and Binance Wallet Web3 | Copy Trading and Unified Account |
| Ideal for | Global users outside the EEA seeking maximum liquidity | European traders who prioritize commissions and automation |
Final Verdict: Binance or Bybit?
For a European user, the outcome of this comparison is quite clear in 2026. Binance remains a massive exchange in terms of liquidity, product offerings, and ecosystem, but it lacks a MiCA license and is in the midst of an orderly exit from the European Union, so it is not a suitable recommendation for opening a new account from Spain. Bybit, with identical fees and an authorized European entity, offers virtually the same competitive fee structure without the regulatory issue.
Outside the EEA, the situation changes: both platforms compete on a more level playing field, and the choice comes down to product preferences, such as Binance's BNB ecosystem versus Bybit's copy trading and automation features.
Choose Binance if…
- ✓ You operate outside the EU and are not affected by the MiCA restriction
- ✓ Are you looking for the additional discount of up to 25% when paying with BNB?
- ✓ You prioritize maximum liquidity and the broadest selection on the market
- ✓ You already had an account before July 2026 and just need to manage it
Choose Bybit if…
- ✓ You live in Spain or any other EEA country and need MiCA
- ✓ Do you want a spot rate of 0.10% without relying on your own token?
- ✓ Are you looking for bots, copy trading, and an open API to automate your trading?
- ✓ You need to open a new account as usual from within the EU
This verdict summarizes the findings regarding fees, regulation, security, and availability. Neither exchange is superior in every respect: the right choice depends on the user’s profile and, above all, on the user’s jurisdiction.
This comparison of Binance vs. Bybit is based on a hands-on analysis of both platforms. We have evaluated their fees, security, range of cryptocurrencies, available features, and ease of use to provide an objective comparison. The assessment reflects the actual differences between the two exchanges, beyond just first impressions.
(FAQ) Frequently Asked Questions: Binance vs. Bybit Comparison
