This article gives a complete description of features, fees, app, cryptocurrencies to affiliate programs, and customer support of Bybit, Binance, and MoonXBT. The comparison table given below summarizes each critical aspect of the said platforms.
Table of Contents
Summary at a glance
What is MoonXBT?
MoonXBT is a derivatives trading platform founded in 2021 and based in the Cayman Islands. It is undoubtedly the first platform that offers light contract trading to its users. Additionally, it also provides high leverage, up to 150x, to its traders. Interested in learning more about this one-of-a-kind platform, read the MoonXBT review.
What is Bybit?
Bybit is one of the fastest-rising cryptocurrency exchange platforms that focuses on leveraged trading. It allows up to 100x leverage on the crypto assets. Moreover, it has a highly advanced and fast processing system that oversees millions of transactions per second. For better understanding, read about Bybit Margin trading.
However, as a user from the United States, you will be unable to use Bybit due to regulatory concerns. However, you may adjust your digital location with Hola VPN and then utilise Bybit. Do you want to go over the processes in further detail? Read, how do I use Bybit in the United States?
What is Binance?
It was established in 2017 and is one of the world’s most credible and reliable cryptocurrency exchange platforms. Traders can enjoy the advanced and unique services and products offered by Binance, such as Binance Smart Pools, Binance Labs, Binance Visa Card, and much more. To know how to use Binance, go through the Binance review.
- Real-time price charts are available with maximum precision.
- Moreover, it also offers high leverage up to 150x.
- Users can start trading with a minimal amount of 1 USDT.
- Traders can avoid high losses by using advanced tools like Trigger order, take-profit, and stop-loss.
- Additionally, it features a multiple charts mode, showing market info of various cryptocurrencies simultaneously for a better trading experience.
- Furthermore, it also gives a demo mode option for the traders to test out their strategies.
- It looks over three major spot markets to give accurate data to its users.
- It charges a minimal fee of 0.05%, one of the lowest in the crypto market.
- Traders have to complete KYC verification to withdraw more than 2000 USDT.
- MoonXBT is available in more than 200 countries.
- Furthermore, the platform recently came out with Copy trading, that allows you to automate your trades by simply copying a professional trader.
- Bybit has a spectacular trading engine that processes transactions at a remarkable speed.
- Bybit offers cold wallets for maximum protection of their customers’ funds.
- The dual-price mechanism ensures fair liquidations for every trader.
- Lightning-fast updates with a powerful API are available every 20 minutes to provide a good trading experience to each user.
- Flexible trading plans are available for beginners and advanced traders.
- Bybit provides trading services around the globe, excluding a few countries like the USA.
- Additionally, it also offers an ‘Insurance Fund’ option if the trader cannot get a better price than bankruptcy price.
- Users can use the Bybit testnet to get an idea of how the platform works.
- 24 x 7 customer support is available in several languages.
- Users can choose not to disclose their identity because KYC is optional on Bybit.
- It offers extensive charting options with indicators and overlays.
- It supports more than 500 cryptocurrencies for global traders but only 52 cryptocurrencies for U.S. investors.
- It supports Binance margin trading, peer-to-peer trading, limit order, market order, stop-limit order, trailing stop order, post-only order, one-cancels-the-order, and much more.
- The maximum trading amount on Binance varies with the type of cryptocurrency used.
- Traders also get access to Public API keys for integrating other software tools.
- It also provides a third wallet option to its users.
- Binance provides its services to users in more than 180 countries around the world. However, only 43 states of the U.S. can get access to Binance.
- MoonXBT Light Contract trading: It offers high liquidity, fair price, and easy-to-use features. To learn more about Light Contract trading, read the MoonXBT review.
- MoonXBT Copy trading: The platform recently came out with MoonXBT Copy Trading, that allows you to copy professional traders and automate your crypto trading. Furthermore, you can sort the professional traders based on their trading style, ROR, and trading days. Read my experience with copy trading to learn how to choose a trader to copy.
- Multiple Charts: MoonXBT offers multiple chart mode that supports up to 4 charts on a single screen. You can use this features to keep an eye on diffrent markets at the same time.
- MoonXBT Demo Mode: The demo mode at MoonXBT allows you experience the Light Contract Trading for Free. Through the demo mode you can try the Trigger and market mode while getting used to TP/ SL. Try MoonXBT demo mode now! Sign-up using the button below:
- Bybit Derivative Tradings: Traders can now hedge, speculate, and add up more leverage over perpetual and futures contracts. Bybit is currently offering inverse perpetual contracts, linear perpetual contracts, and inverse futures contracts. To learn more read, Bybit margin trading.
- Bybit Spot Tradings: It provides a transparent trading environment to its customers to buy and sell crypto assets at the best rates with competitive market liquidity.
- ByFi Center: It is an easy-to-use product with no tension in wallet management. The traders can reap hefty profits with non-exorbitant gas fees. Furthermore, it offers high-grade protection with cold storage and real-time monitoring of the DeFi systems.
- Binance Leveraged Tokens: This unique product enables the traders to gain some controlled exposure to a specific crypto asset without the risk of liquidation. At times it can be difficult to understand how these work, so here’s our guide to leveraged tokens.
- Binance Futures: It presents various orders like Binance Futures divided into USD-Margined Futures Contracts and Coin-Margined Futures Contracts.
- Binance Earn: It gives the traders a chance to earn extra interest on the Binance Earn platform by depositing cryptocurrencies. Moreover, each coin has a different interest rate allotted to it. To earn free crypto on Binance, read our article on Binance staking here.
- Binance Pay: Users can send and spend their crypto assets at zero fees.
- Visa Card: The platform also offers Binance Card. This credit card is used to convert cryptocurrencies into fiat currencies. Thus, the traders can spend it on products and services of their choice.
- Binance Smart Pool: Miners can easily change cryptocurrencies for significant profits through this service.
How to Start trading on the platforms?
Bybit vs Binance vs MoonXBT: MoonXBT
MoonXBT introduced Light Contract Trading. It is different from conventional contract products because it is easy to understand, possesses lightning-fast speed, and is extremely simple. Traders can use leverage to maximize their profits in contract trading.
Light Contract also has a lock-in profit and loss feature that allows the user to lock in the profits and loss in advance without consulting real-time price charts. This way, the user will only lose the margin funds and nothing else.
You can get started with MoonXBT LIght Contract trading by following just three steps:
- Opening an account
- Opening a position
After completing these steps and updating the parameters required, you are ready to trade! To go through the steps in detail refer to the MoonXBT review.
Bybit vs Binance vs MoonXBT: Bybit
Margin trading on Bybit enables users to open both long and short positions. Moreover, Bybit offers perpetual contracts with no expiration date, which follows the margin-based spot trading and futures contracts with expiration dates.
Also, Bybit has an Insurance Fund that is used to compensate for a trader’s loss when it is unable to close the liquidated position at a better value than the bankruptcy price.
You can create an account, deposit funds, and select the pair you wish to trade and get started. To go through the steps in detail refer to A Guide to Bybit Margin Trading.
Bybit vs Binance vs MoonXBT: Binance
Binance offers spot, perpetual, and futures contracts to its users. Furthermore, Binance trading options allow a user to convert cryptocurrencies with one click. The interface is user-friendly and straightforward, and users also get several tools to assist them in trading further. If the users are confused about how to trade on Binance, they can read the Binance review to know the complete process.
Other than maximizing profits using leverage, users also can trade stocks through cryptocurrencies on Binance.
Bybit vs Binance vs MoonXBT: App
Users can access trading charts and advanced tools to make trading easier on the MoonXBT app. In addition, they can enjoy Light Trading anytime with an intuitive interface and easy-to-understand features. It is also available on both, android and iOS devices.
Traders can now access all the unique features of Bybit anytime, anywhere on these android and iOS devices. The Bybit app aims to provide a seamless and better trading experience to its users. With multilingual support, traders can check balances, monitor positions, and quickly place a trade with just a few clicks.
Excellent trading features, multiple payments options, P2P transactions, and much more can be now seen on the Binance app. This user-friendly and highly responsive app is currently available on both android and iOS devices.
Deposit and withdrawal options
Bybit vs Binance vs MoonXBT: MoonXBT
MoonXBT is only supporting USDT, BTC, and ETH as of now. To simplify the process, it converts BTC and ETH into equivalent amounts of USDT. As a result, the traders can only withdraw USDT. The withdrawal fee is described below.
Bybit vs Binance vs MoonXBT: Bybit
Users can deposit BTC, EOS, ETH, XRP, and USDT on Bybit. There is no minimum trading limit on Bybit; users can deposit whatever amount they want to get started. The users will get all information of cryptocurrencies used on the assets tab of the bybit page.
Unfortunately, bybit does not support deposits in fiat currencies. However, it does charge a minimal processing fee for making a deposit. For withdrawal, there is a limit for each cryptocurrency.
Additionally, there is also a minimum withdrawal amount for every cryptocurrency.
|Cryptocurrency||Minimum Withdrawal||Withdrawal Amount|
|BTC||0.001 BTC||0.0005 BTC|
|ETH||0.02 ETH||0.005 ETH|
|XRP||20 XRP||0.25 XRP|
|EOS||0.2 EOS||0.1 EOS|
|USDT(ERC-20)||20 USDT||10 USDT|
|USDT(TRC-20)||10 USDT||1 USDT|
Bybit vs Binance vs MoonXBT: Binance
Binance supports more than 500 cryptocurrencies like BTC, LTC, ETH, BNB. Furthermore, users can also use more than 12 fiat currencies for making deposits. It does not charge any deposit fees. As for withdrawal, it sets a flat fee to cover transactional charges.
For deposits and withdrawals, there are several networks that the user has to choose from to perform the task successfully. The users have to select the same network as the network of platforms from which they initiate deposits and withdrawals. Some examples of networks are BTC, BEP2, BEP20, ERC20, and TRC20.
Bybit vs Binance vs MoonXBT: Fees
Only a 0.05% fee is charged per trade by MoonXBT. There is an overnight fee charged when a position is more than 12 hours. Moreover, it only takes an opening fee and not a closing fee. The users can get the opportunity to reduce trading fees by 30% by using MoonXBT points.
Bybit charges a minimal fee of 0.075% from the takers and 0.025% from the makers. The users can calculate opening and closing fees by a simple formula.
Opening fee = (Contract quantity / Entry price) * Trading Fee rate Closing fee = (Contract quantity / Exit price) * Trading Fee rate
For example, a user wants to set a long position of 100,000 BTCUSD contracts at $9,500 and close it at $9,600. The table shows the minimum fee the user has to pay in each case.
The trading fee charged by Binance is 0.1%. Therefore, upon using the BNB coins for trade, the users will get a 50% discount. Binance does not charge any deposit fee. However, there is a different withdrawal fee for every cryptocurrency.
Bybit vs Binance vs MoonXBT: Affiliate Program
MoonXBT Affiliate Program
MoonXBT Affiliate Program offers a generous commission plan that depends on the number of referrals and the amount of trading. The below chart explains that very well.
The traders can get the following benefits if they choose to join the program.
- They can receive up to 50% commission for a lifetime with zero investment.
- The commissions are transferred in real-time with all the details attached to them to maintain transparency.
- The traders will get 1 to 1 exclusive professional support, services, and promotional materials to increase their efficiency.
Bybit Affiliate Program
Bybit affiliate system offers the following advantages to its partners.
- 30% commission on trading fee when the referred person makes a trade.
- 1-on-1 professional support to understand better and expand the business.
- Commission settlement in real-time, no delays.
- It offers complete transparency. It gives a detailed report of every transaction and commission to the partner.
Binance Affiliate Program
Binance Affiliate Program offers 50% commission on every trade across Binance Spot, Futures, Margin Trading, and Binance Pool through its affiliate program. To become an affiliate, the user has to sign up and share their link. After that, they can start receiving commissions for every trade made through their link.
|Binance Pool commission||30%|
A person is eligible for this program only if they have 500+ members in a trading community and over 5000 followers on their social media.
- The affiliate partner can receive a bonus reward of up to $72,000 per month, depending on the total fees paid by their future referrals.
- There is no referral limit.
- It offers professional support and marketing materials for the affiliate to get started with the program.
Bybit vs Binance vs MoonXBT: Security
Is MoonXBT safe?
Yes, MoonXBT is completely safe to use as it uses the below security provisions:
- MoonXBT has enabled the multi-signature feature for extra security.
- KYC verification is critically essential for identity verification.
- It also has enabled two-factor authentication.
- Furthermore, MoonXBT stores the funds of their users in a cold wallet to ensure maximum security.
Is Bybit safe?
Bybit has included the following features to keep the exchange platform safe for trading.
- It has been built on the impenetrable cold wallet system that stores all the users’ funds offline to keep it safe from digital thefts. The deposit address given to the users is a cold wallet address.
- Only three withdrawals are allowed in a single day. If the public keys do not match, the trading is immediately frozen, and the system is closed.
- It also uses two-factor authentication via email, SMS, or Google Authenticator.
- SSL encryption is also used for website security.
Is Binance Safe?
- Binance verification involves KYC and two-factor authentication to eliminate fraudsters.
- It also uses CryptoCurrency Security Standard (CCSS) for better protection.
- Binance features a ‘Whitelist Address Management’ that enables users to limit their wallet addresses to make the withdrawal.
Bybit offers 24 x 7 online support in multiple languages to assist the users in their language. In addition, there is a live support and email support feature for the queries of the customers.
Similarly, Binance provides round-the-clock customer support to help its users. The customers can either use theory social media page or email support to avail of this service.
Bybit vs Binance vs MoonXBT: Pros and Cons
|Bybit||It has the three highest derivatives trading volumes.|
High bonuses are offered.
Competitive trading fees.
|Not regulated by any authority.|
Less number of trading pairs.
|Binance||A wide range of cryptocurrencies is available.|
Lightning speed processing.
Various payment options for users.
|Weak customer support.|
Few trading pairs are available.
|MoonXBT||Customer support is outstanding.|
Distinctive and exceptional Light Contract trading.
Each of the three exchange platforms has its exclusive features and products. With the above comparison, users can make an informed choice and select what may be the best for them. New traders should focus more on Bybit and Binance as both are established platforms. However, MoonXBT is a unique platform and has advanced features, which is excellent for experienced traders.
Frequently Asked Questions
What is Binance withdrawal time?
It usually takes 30 mins to 2 hours to complete a withdrawal. The time taken for this process is known as Binance withdrawal time.
Is Bybit available in the United States?
No, U.S. citizens cannot use or access Bybit.
What is Bybit Testnet?
It is a testing platform for those who want to experience Bybit before actually using it.
What are third-party tools used for charting on MoonXBT?
Tools like a horizontal line, vertical line, trend line, cross line, Fibonacci, rectangle, Eliot, Bifurcation line, and circular line analysis are used to chart MoonXBT.