Crypto Exchange comparison
BTC Markets vs Bybit
BTC Markets is an Australian-regulated exchange that lets you deposit AUD directly via PayID or Osko and withdraw to your bank account for free. Bybit is an offshore platform with no AUSTRAC registration, no AUD bank withdrawals, and no Australian tax reporting — it's built for global crypto traders who are comfortable funding via crypto or third-party gateways. The biggest practical difference is whether you want a local, tax-friendly on-ramp or access to a broader derivatives-focused exchange.
Choose
BTC Markets
if…
- ›You want to deposit AUD fee-free via PayID, Osko or BPAY and withdraw to your Australian bank account at no cost
- ›You need an Australian tax statement and CGT report for end-of-year lodgement
- ›You're setting up an SMSF or trust account to invest in crypto
- ›You prefer dealing with an AUSTRAC-registered, Melbourne-based company with local support during business hours
- ›You want a simple spot exchange without the complexity of derivatives, futures or demo trading
Choose
Bybit
if…
- ›You want access to derivatives, futures and margin trading on hundreds of crypto pairs
- ›You need a demo account to practise strategies before risking real capital
- ›You prefer 24/7 live chat support and a desktop trading platform with advanced charting
- ›You're comfortable funding via crypto deposits or third-party fiat gateways (Banxa, MoonPay) and don't need AUD bank withdrawals
- ›You want a global exchange with higher trading volumes and more coin listings than most Australian platforms
Where they differ
| Fact | BTC Markets | Bybit |
|---|---|---|
| AUSTRAC registration | Registered | Not registered |
| AUD withdrawal fee | $0 | Not supported (no AUD bank withdrawals) |
| Australian tax statement | Yes | No |
| Account types | Individual, Company, Trust, SMSF | Individual, Company only |
| Customer support hours | Business hours (Mon-Fri) | 24/7 live chat |
Verdict
Choose BTC Markets for a compliant, AUD-friendly on-ramp with tax reporting; choose Bybit for global derivatives and 24/7 trading.
All data points side-by-side
Every verified fact for both platforms. Differences are highlighted.
| Field | BTC Markets | Bybit |
|---|---|---|
| account structure | ||
| Individual account | Yes | Yes |
| Joint account | No | No |
| Company account | Yes | Yes |
| Trust account | Yes | No |
| SMSF account | Yes | No |
| Kids / minor account | No | No |
| asset coverage | ||
| Crypto trading | Yes | Yes |
| IPO access | No | No |
| costs hidden | ||
| Market data fees | $0/month | $0/month |
| Conditional order fees | $0 | $0 |
| costs visible | ||
| Monthly platform fee | $0/month | $0/month |
| Annual platform fee | $0/year | $0/year |
| Inactivity fee | $0 | $0 |
| Withdrawal fee (AUD) | $0 | — |
| identity and trust | ||
| Legal entity name | BTC Markets Pty Ltd | Bybit Fintech Limited |
| AFSL number | AFSL via sister entity BTCM Payments Pty Ltd (BTC Markets itself is not AFSL-licensed for spot crypto, as spot crypto is not a regulated financial product) | — |
| AUSTRAC registration | Yes | No |
| Year founded | 2,013 | 2,018 |
| Parent / ownership | Privately owned, Australian; headquartered in Richmond, Melbourne (Victoria) | Bybit Fintech Limited (privately held; founded and led by Ben Zhou) |
| Country of incorporation | AU | SC |
| Public company status | private | private |
| money movement | ||
| Minimum initial deposit | $30 | — |
| Minimum subsequent purchase | $30 | — |
| Deposit methods | PayID, Osko, BPAY, Direct Credit / EFT bank transfer, Bank card (debit/credit) | Crypto deposit, Third-party fiat gateway (debit/credit card via Banxa, Mercuryo, MoonPay), P2P trading (peer-to-peer fiat), Bybit Card top-up (where available) |
| Withdrawal time | AUD withdrawals typically 1 business day (NPP/Osko often same-day where available) | AUD bank withdrawals not supported; crypto withdrawals processed typically within minutes once approved (subject to network confirmation) |
| platform ux | ||
| iOS app | Yes | Yes |
| Android app | Yes | Yes |
| Desktop platform | No | Yes |
| Demo account | No | Yes |
| Free real-time market data | Yes | Yes |
| Free research reports | No | No |
| 2FA support | authenticator | authenticator |
| Customer support channels | email, support portal / help centre | 24/7 live chat, email/ticket, help center, in-app support |
| Support hours (AU time) | Business hours (approx. 9am-5pm AET), Mon-Fri; help centre 24/7 self-service | 24/7 (live chat); email tickets responded in 1-3 business days |
| Education content | basic articles | video + courses |
| tax and reporting | ||
| Australian tax statement | Yes | No |
| CGT calculator / report | Yes | No |
| Sharesight / Navexa integration | Yes | Yes |
| trading mechanics | ||
| Market orders | Yes | Yes |
| Limit orders | Yes | Yes |
| Stop loss orders | Yes | Yes |
| Conditional orders | Yes | Yes |
| Auto-invest / DCA | Yes | Yes |
| Auto-invest sophistication | single asset | single asset |
| After-hours / overnight trading | Yes | Yes |