## Best Bitcoin Exchange: Bybit vs Phemex

### Claim your BTC welcome bonus  here below!

In these article we’ll take a look of two of the best cryptocurrencies (Bitcoin, BTC, Altcoin) exchange at the moment: Bybit and Phemex. In fact, these two new-entries have a lot to say against the well known BitMex. For our readers, a welcome reward link (up to $90 and$72 dollars for Bybit and Phemex respectively) to open a new account inside the article!

Cryptocurrency exchange: Bybit vs Phemex

### Phemex.

Phemex is a new BTC exchange in comparison to other such as BitMex or Bybit (which is also relatively a young platform). But now we have to consider the main differences, PROs and CONs:

#### PROs:

• User friendly interface much simplier than BitMex.
• For beginners traders, the opening/closing order is very easy to do. The options available are similar to those of Bybit. Open a short/long position with either a Market order, a Limit Order or a Conditional Order. Also Cross-leverage is available.
• When you place an order you can choose between Index Price, Last Price and Mark price for Take profit and Stop Loss options.
• It is possible to manage multiple sub-accounts which allows to open different position at the same time (for example in one you can go long and in another sub-ccount you can go short).
• You can deposit USD dollar into you account.

### CONs:

• Phemex wallets only allow deposits and withdrawals in BTC. However, Phemex provides both a BTC trading account and a nominal USD trading account. To trade BTC settled contracts, users simply needs to fund their BTC trading accounts from a wallet. To trade USD settled contracts, users can exchange BTC from a wallet to their USD trading account through a real-time fair rate.

A resume of the trading fee and main features is reported in the image below.

### Bybit.

Since 2018 Bybit has attracted a lot of Bitcoin and Altcoin traders due to its simplicity to use. As we said in the introduction, Phemex and Bybit are two young platform which are growing-up very fast thanck to their capabilities. Now, let’s check strength and weaknesses of Bybit.

#### PROs:

• User friendly interface much simplier than BitMex.
• For beginners traders, the opening/closing order is very easy to do. The options available are similar to those of Bybit. Open a short/long position with either a Market order, a Limit Order or a Conditional Order. Also Cross-Leverage is available.
• You can make deposits of BTC, ETH, XRP and EOS.

#### CONs:

• You’re not allowed to have multiple accounts.
• When you place an order you can’t choose between Index Price, Last Price and Mark price for Take profit and Stop Loss options. You can chance the type of price only the order has been submitted and placed on the market.

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On the whole we think that both thse platforms are an optimal choice for Bitcoin and Altcoin trading, the slight differeces which emerges between two may lead you to prefer one to another. According to us, a good choice may be differenciating and using both of them.

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