Bybit has grown rapidly. How does it compare to Binance for Chinese users? Register on Binance and download the Binance app.
Scale: Binance is 3-5x larger in daily volume, with more tokens. Chinese support: Both excellent. Bybit's CS may respond faster; Binance handles issues more thoroughly. C2C: Binance has more merchants and better depth. Futures: Bybit started with futures and has a clean interface. Binance has larger volume. Fees: Similar base rates; Binance's BNB discount gives an edge. Earn/Ecosystem: Binance far ahead with more products and BNB Chain. App: Bybit is simpler; Binance is more comprehensive.
Verdict: For comprehensive needs and best liquidity: Binance. For clean futures interface: Bybit. Many traders use both.