I need your advice on Bybit vs Phemex

[pastet89]

Please, share your thoughts with the pros and cons of those exchanges. Looking for a new exchange, I am a developer and a heavy API/bot user, so this also matters a lot to me.

Would be great to point out:

* overall experience
* support
* deposit/withdrawals
* overloads freezing the trading during flash crashes and other crazy liquidity events
* API quality (very important!)


Thanks in advance!

[hugeblack]

What type of platform are you trying to create, is it decentralized, centralized, or automated?
I think you are talking about those platforms with automated trading (for example changelly).

The user only needs to create a temporary account, s/he pays to an address and the address is sent to the wallet, if this is what you mean here are some tips:

 - Liquidity: It must be available, and the role of the site should be in updating prices.
 - Low withdrawal fees: Try to reduce fees as much as possible.
 - Lack of identity verification: It's the crucial point but you need to gain trust.
 - Speed ​​of the support team: the faster the response, the better.

Therefore, focus on the price first, then the withdrawal fee, and then good support team.

[pastet89]

Thanks but it seems I was misunedrstood. I am not creating a platform. I am just collecting opinions on Bybit vs Phemex in order to decide on which exchange to trade.

[sheenshane]

I am just collecting opinions on Bybit vs Phemex in order to decide on which exchange to trade.

Everything information that you need is on the internet and I think you need to have research for this of which pros and cons that suitable for you API that you wanted to build.  There's a review of Bybit and Phemex exchange platform and both of them has different pros and cons and if you will compare both of them they had the same low profile which is the same result of the review, it's average given 3.5 stars.

I never heard Phemex and Bybit seem familiar when I was joining their faucet before when they are launching their exchange.  I don't know technically which is better but I think, choose the exchange that is available in the US and supported USD, Bybit isn't available in the US.

[Yamifoud]

I am just collecting opinions on Bybit vs Phemex in order to decide on which exchange to trade.

Everything information that you need is on the internet and I think you need to have research for this of which pros and cons that suitable for you API that you wanted to build.  There's a review of Bybit and Phemex exchange platform and both of them has different pros and cons and if you will compare both of them they had the same low profile which is the same result of the review, it's average given 3.5 stars.

3.5 rating is not bad at all, in fact, Binance has the same rating but Coinbase had made it higher at 4.5 based on the site rating.
But if OP is concerned about KYC then Bybit is good for him and that only if he is not a US citizen...

How Bybit works
Bybit does not have any KYC requirements, so you only need a phone number or email address to open an account. You can deposit cryptocurrencies or use a third party app to buy Bitcoin with fiat (traditional) money.

I don't even try both of them but upon reading their cons and pros, I will choose Bybit over Phemex, not only because of the KYC matter but also of the numbers of currencies accepted, unlike Phemex.

[pastet89]

Thanks! I am not from the USA, indeed. I searched a lot before posting here. I do not like reviews and articles, first hand user experience is the best. For me most important is the API quality. I might be wrong but I have the impression Phemex is more stable during overload times, it would be great it someone could confirm that.