Bybit Exits France: What are 10 Alternative Crypto Exchanges?

Why Did Bybit Exit France? 

Bybit, a popular crypto exchange, announced on August 1, 2024, that it would stop its operations in France. The decision was due to regulatory pressure from the Autorité des Marchés Financiers (AMF), France’s financial regulator.  

The AMF had previously warned that Bybit was not authorized to offer digital asset services in the country. Since May 2022, the exchange had been blacklisted for not complying with French regulations. As a result, Bybit decided to wind down its operations to avoid further complications. 

From August 2, 2024, French users could only close existing positions on Bybit, as the platform restricted new trades. By August 13, 2024, all open positions were to be liquidated. Bybit hinted at a possible return to the French market in the future, but details remain unclear. 

Top 10 Alternative Crypto Exchanges 

For those affected by Bybit’s exit, here are ten crypto exchanges that could serve as alternatives: 

          1. Binance 

• Best for Liquidity 

• Website: www.binance.com 

• Trading Fees: 0-4.5% 

• Available Cryptocurrencies: 400+ 

• Liquidity Score: 869 

• Why Choose Binance: Binance offers one of the highest liquidity levels in the market, ensuring that you can execute trades quickly and efficiently.
  

  
  2. Bitget 

• Best for Altcoins 

• Website: www.bitget.com 

• Trading Fees: 0.10% 

• Available Cryptocurrencies: 800+ 

• Liquidity Score: 515 

• Why Choose Bitget: With a large selection of altcoins, Bitget is perfect for traders looking to explore a variety of digital assets.

  
  3. BYDFi 

• Best for Non-KYC Trading 

• Website: www.bydfi.com 

• Trading Fees: 0.10-0.30% 

• Available Cryptocurrencies: 270+ 

• Liquidity Score: 533 

• Why Choose BYDFi: BYDFi allows users to trade without mandatory KYC (Know Your Customer) verification, offering more privacy. 

          4. BingX 

• Best for Trading Bots 

• Website: www.bingx.com 

• Trading Fees: 0.1% to 0.0325% 

• Available Cryptocurrencies: 800+ 

• Liquidity Score: 484 

• Why Choose BingX: BingX supports advanced trading bots, making it ideal for automated trading strategies. 

          5. BloFin 

• Best for Derivatives Trading 

• Website: www.blofin.com 

• Trading Fees: 0.02% (maker) & 0.06% (taker) 

• Available Cryptocurrencies: 340 (perps) & 100 (spot) 

• Liquidity Score: 416 

• Why Choose BloFin: If you’re focused on derivatives, BloFin offers competitive fees and a solid selection of perpetual contracts. 

          6. M2 

• Best for Yield on Investments 

• Website: www.m2.com 

• Trading Fees: Spot: 0.10%; Futures: 0.02% (maker), 0.04% (taker) 

• Available Cryptocurrencies: 40+ 

• Liquidity Score: 290 

• Why Choose M2: M2 is tailored for investors seeking to earn yield on their crypto holdings, offering favorable conditions for yield farming. 

          7. Coinbase

• Best for Beginners 

• Website: www.coinbase.com 

• Trading Fees: 0.50% for instant buy/sell; 0.05% – 0.60% (taker) 

• Available Cryptocurrencies: 250+ 

• Liquidity Score: 780 

• Why Choose Coinbase: Coinbase’s user-friendly interface makes it perfect for beginners who are just starting with crypto trading. 

          8. Margex 

• Best for Privacy-Oriented Traders 

• Website: www.margex.com 

• Trading Fees: 0.06% (taker), 0.019% (maker) 

• Available Cryptocurrencies: 40 

• Liquidity Score: N/A 

• Why Choose Margex: Margex is ideal for traders who prioritize privacy and security, offering a platform focused on anonymity. 

          9. MEXC 

• Best for User Communication 

• Website: www.mexc.com 

• Trading Fees: Zero fees 

• Available Cryptocurrencies: 2,400+ 

• Liquidity Score: 552 

• Why Choose MEXC: MEXC is known for its active user community, providing a platform where traders can easily communicate and share insights. 

          10. eToro 

• Best for Copy Trading 

• Website: www.etoro.com 

• Trading Fees: 1% for crypto trading 

• Available Cryptocurrencies: 70+ 

• Liquidity Score: N/A 

• Why Choose eToro: eToro is popular for its copy trading feature, allowing users to mimic the trades of successful traders. 

Comparison Table of Bybit Alternatives 

How to Choose the Right Exchange 

Choosing a new exchange depends on several factors. Consider your trading habits, the types of cryptocurrencies you’re interested in, and your tolerance for fees. For example, if you need high liquidity for fast trades, Binance might be your best option.  

If privacy is your top concern, consider Margex. Always evaluate the security, regulatory status, and user experience of each platform before making a final decision. 

By carefully considering these factors, you can find a suitable alternative to Bybit that aligns with your trading needs and preferences.