For Portuguese crypto traders, choosing between Binance and Bybit often comes down to fees. Both exchanges operate in Portugal and support EUR deposits via SEPA, but their fee structures differ in ways that directly impact your bottom line. This comprehensive comparison covers everything you need to know: trading fees, deposit costs for European bank transfers, withdrawal fees, EUR trading pairs, and VIP programs tailored to Portuguese and European traders.
Whether you're trading €100 or €100,000, understanding these fees can save you hundreds or thousands of euros annually. Let's break down exactly what each exchange charges and which offers better value for Portuguese traders.
Quick Verdict for Portuguese Traders
Binance offers lower overall fees for most Portuguese traders thanks to its BNB discount (25% off trading fees). With EUR pairs, free SEPA deposits, and the widest selection of cryptocurrencies, Binance is typically the more cost-effective choice.
Bybit matches Binance's base trading fee of 0.1% but lacks a native token discount. However, Bybit offers competitive derivatives fees and occasional zero-fee promotions that can make it attractive for futures traders.
Ready to start trading?
- Open a Binance account - Get started with EUR deposits via SEPA
- Open a Bybit account - Access derivatives and spot trading
Complete Fee Comparison: Binance vs Bybit
Here's how Binance and Bybit compare across all fee categories relevant to Portuguese traders:
| Fee Type | Binance | Bybit | Winner |
|---|---|---|---|
| Spot Maker Fee | 0.10% | 0.10% | Tie |
| Spot Taker Fee | 0.10% | 0.10% | Tie |
| With BNB Discount | 0.075% | N/A | Binance |
| Futures Maker | 0.02% | 0.02% | Tie |
| Futures Taker | 0.04-0.05% | 0.055% | Binance |
| SEPA Deposit (EUR) | Free | Free | Tie |
| Card Purchase Fee | ~1.8-2% | ~2.5-2.99% | Binance |
| EUR Withdrawal (SEPA) | Free | Free | Tie |
| Crypto Withdrawal | Dynamic (network fee) | Dynamic (network fee) | Similar |
Note: Fees shown are base rates. VIP traders pay significantly less. Card purchase fees vary by payment processor. Always verify current rates on official exchange websites.
EUR Trading Pairs for Portuguese Traders
One key advantage for Portuguese traders is the availability of EUR trading pairs. Trading directly in EUR eliminates the need to convert euros to USDT first, saving conversion fees and spreads.
Binance EUR Pairs
Binance offers an extensive selection of EUR trading pairs, including:
- BTC/EUR - Bitcoin vs Euro
- ETH/EUR - Ethereum vs Euro
- BNB/EUR - Binance Coin vs Euro
- Multiple altcoin/EUR pairs - Including SOL, ADA, XRP, and more
Trading EUR pairs on Binance means you can deposit directly from your Portuguese bank account via SEPA and start trading without currency conversion fees.
Bybit EUR Pairs
Bybit also supports EUR trading pairs for major cryptocurrencies:
- BTC/EUR - Bitcoin vs Euro
- ETH/EUR - Ethereum vs Euro
- Selected altcoins/EUR - Growing selection
While Bybit's EUR pair selection is smaller than Binance's, it covers the most-traded cryptocurrencies, making it suitable for most Portuguese traders.
Why EUR Pairs Matter for Portuguese Traders
Consider this scenario: You deposit €1,000 from your Portuguese bank account.
- Deposit €1,000 via SEPA (free)
- Trade BTC/EUR directly
- Fee: 0.1% = €1.00
- Total cost: €1.00
- Deposit €1,000 via SEPA (free)
- Convert EUR to USDT (spread + fee ~0.5%)
- Trade BTC/USDT (0.1% fee)
- Convert back to EUR (spread + fee ~0.5%)
- Total hidden cost: ~€10-15 in spreads and fees
Conclusion: Trading EUR pairs saves Portuguese traders approximately 1-1.5% per round-trip compared to converting through USDT.
Deposit Fees for Portuguese Traders
SEPA Deposits (EUR Bank Transfer)
For Portuguese traders, SEPA (Single Euro Payments Area) transfers are the most cost-effective deposit method. Both exchanges offer free SEPA deposits:
| Deposit Method | Binance | Bybit |
|---|---|---|
| SEPA Bank Transfer | Free | Free |
| Processing Time | 1-3 business days | 1-3 business days |
| Minimum Deposit | €1-15 (varies) | €1-20 (varies) |
Portuguese bank accounts (including MB Way connected accounts and Multibanco) can send EUR via SEPA to either exchange without fees from the exchange side. Your bank may charge its own SEPA fees, though most Portuguese banks offer free SEPA transfers within Europe.
Card Deposits
If you prefer instant deposits via credit or debit card:
| Card Deposit | Binance | Bybit |
|---|---|---|
| Fee | ~1.8-2% | ~2.5-2.99% |
| Processing | Instant | Instant |
Recommendation: Use SEPA transfers for larger deposits to avoid card fees. Card purchases are convenient for smaller, urgent trades but cost significantly more.
Trading Fees Explained
Maker vs Taker Fees
Both exchanges use the maker-taker fee model:
- Maker fee: Charged when you place a limit order that adds liquidity to the order book (not immediately filled)
- Taker fee: Charged when you place an order that removes liquidity (market orders or limit orders filled immediately)
Base Trading Fees
For regular traders (non-VIP), both exchanges charge:
- Spot maker: 0.10%
- Spot taker: 0.10%
At first glance, fees are identical. But here's where Binance gains an edge:
The BNB Discount Advantage
Binance offers a 25% discount when you pay fees with BNB (Binance Coin). This is a unique advantage:
| Scenario | Standard Fee | With BNB Discount | Savings |
|---|---|---|---|
| Trade €1,000 | €1.00 (0.1%) | €0.75 (0.075%) | €0.25 |
| Trade €10,000 | €10.00 | €7.50 | €2.50 |
| Trade €100,000/year | €100/year | €75/year | €25/year |
For active Portuguese traders, the BNB discount can save significant amounts over time. The discount applies automatically when you hold BNB and enable the feature in your account settings.
Bybit does not currently offer an equivalent discount token, giving Binance a clear advantage for regular traders.
VIP Programs for High-Volume Portuguese Traders
Both exchanges offer VIP tiers with reduced fees for high-volume traders. These are based on 30-day trading volume, calculated in EUR or equivalent.
Binance VIP Levels
| VIP Level | 30-Day Volume (EUR) | Maker Fee | Taker Fee |
|---|---|---|---|
| Regular | 0 - €1M | 0.10% | 0.10% |
| VIP 1 | €1M - €5M | 0.09% | 0.10% |
| VIP 2 | €5M - €20M | 0.08% | 0.10% |
| VIP 3 | €20M - €50M | 0.07% | 0.09% |
| VIP 4+ | €50M+ | 0.02% | 0.04% |
Binance also offers VIP status based on BNB holdings, making it accessible without huge trading volume.
Bybit VIP Levels
| VIP Level | 30-Day Volume (EUR) | Maker Fee | Taker Fee |
|---|---|---|---|
| Regular | 0 - €1M | 0.10% | 0.10% |
| VIP 1 | €1M - €5M | 0.08% | 0.10% |
| VIP 2 | €5M - €20M | 0.06% | 0.08% |
| VIP 3 | €20M - €50M | 0.04% | 0.06% |
| Pro / Elite | €50M+ | 0.00% | 0.04% |
Key difference: Bybit offers 0% maker fees at the highest VIP tier, which may appeal to professional market makers and institutional traders from Portugal.
Futures and Derivatives Trading Fees
For Portuguese traders interested in leveraged trading and derivatives:
| Contract | Binance Maker | Binance Taker | Bybit Maker | Bybit Taker |
|---|---|---|---|---|
| USDT-M Futures | 0.02% | 0.04-0.05% | 0.02% | 0.055% |
| Coin-M Futures | 0.02% | 0.05% | 0.02% | 0.055% |
| Options | 0.02% | 0.02% | Varies | Varies |
Both exchanges offer competitive futures fees. Binance has a slight edge on taker fees. Note that futures trading carries significant risk and is not recommended for beginners.
Withdrawal Fees for Portuguese Traders
EUR Withdrawals via SEPA
Both exchanges offer free EUR withdrawals to European bank accounts:
| Withdrawal Method | Binance | Bybit |
|---|---|---|
| SEPA (EUR) | Free | Free |
| Processing Time | 1-3 business days | 1-3 business days |
| Minimum | €10-15 | €10-20 |
Cryptocurrency Withdrawals
For crypto withdrawals, fees are based on blockchain network conditions:
| Cryptocurrency | Binance Fee (approx) | Bybit Fee (approx) |
|---|---|---|
| Bitcoin (BTC) | 0.0005-0.001 BTC | 0.0005-0.001 BTC |
| Ethereum (ETH) | 0.001-0.002 ETH | 0.001-0.002 ETH |
| USDT (TRC20) | 1-2 USDT | 1-2 USDT |
Withdrawal fees are dynamic and change based on network congestion. Always check current fees in your account before withdrawing.
Tip for Portuguese traders: If you want to cash out to EUR, withdraw via SEPA to your Portuguese bank account. If you want to hold crypto, use network-specific withdrawals (TRC20 for USDT is cheapest).
Hidden Fees and Costs to Watch
Beyond advertised trading fees, be aware of these potential costs:
1. Spread Markup
The "spread" is the difference between buy and sell prices. Both exchanges may have different spreads on different trading pairs. EUR pairs may have slightly wider spreads than USDT pairs due to lower liquidity, but this is often offset by avoiding conversion fees.
2. Conversion Fees
If you use Binance's "Convert" feature or Bybit's equivalent for quick trades, you may pay higher spreads than on the spot market. Always compare the convert rate with the spot market rate.
3. Network Fees (Not Exchange Fees)
Network fees for withdrawals go to miners/validators, not the exchange. Both exchanges pass these fees through to users. Network congestion can significantly increase these fees.
4. Inactivity Fees
Neither Binance nor Bybit charges inactivity fees, so your account won't be charged for not trading.
Regulatory Considerations for Portuguese Traders
Portugal is part of the EU and follows European cryptocurrency regulations, including MiCA (Markets in Crypto-Assets). Here's what Portuguese traders should know:
EU Regulations
- Both Binance and Bybit operate under EU regulatory frameworks
- KYC (Know Your Customer) verification is required for both exchanges
- Portuguese traders may need to provide proof of address and identity
- Some features may be restricted based on EU regulations
Tax Considerations
Portugal has specific crypto tax rules. Trading fees reduce your taxable gains, so keeping track of all fees paid is important for tax reporting. Both exchanges provide transaction history downloads for tax purposes.
Which Exchange Should Portuguese Traders Choose?
Choose Binance If:
- You want the lowest possible trading fees (with BNB discount)
- You want access to the widest range of EUR trading pairs
- You trade frequently and want to save on fees
- You're interested in Binance Earn for passive income
- You want the largest selection of cryptocurrencies
Choose Bybit If:
- You primarily trade derivatives/futures
- You're a market maker (0% maker fees at highest VIP tier)
- You prefer a simpler, more focused trading platform
- You're interested in copy trading features
Use Both
Many Portuguese traders maintain accounts on both exchanges to take advantage of:
- Price arbitrage opportunities
- Different coin listings
- Promotional offers and bonuses
- Platform redundancy
Frequently Asked Questions
Which exchange has lower fees for Portuguese traders: Binance or Bybit?
For most Portuguese traders, Binance offers lower fees due to its 25% BNB discount, reducing spot fees from 0.1% to 0.075%. Bybit matches the base rate of 0.1% but lacks an equivalent discount token. For high-volume traders, both offer VIP programs with fees as low as 0.02% maker. Overall, Binance typically works out cheaper for regular traders in Portugal.
Are SEPA deposits free on Binance and Bybit for Portuguese traders?
Yes, SEPA deposits are free on both Binance and Bybit for Portuguese traders. You can transfer EUR from Portuguese bank accounts (including MB Way connected accounts) via SEPA without deposit fees. Processing time is typically 1-3 business days. Note that card deposits (credit/debit) incur fees of approximately 1.8-2% on Binance and 2.5-2.99% on Bybit.
Can I trade EUR pairs on Binance and Bybit from Portugal?
Yes, both exchanges offer EUR trading pairs. Binance has a wider selection including BTC/EUR, ETH/EUR, and numerous altcoin/EUR pairs. Bybit also offers EUR pairs for major cryptocurrencies. Trading EUR pairs avoids conversion fees from EUR to USDT, making it more cost-effective for Portuguese traders who fund accounts in euros.
What are the withdrawal fees for Portuguese traders?
Withdrawal fees are determined by blockchain network conditions, not by your location. Both Binance and Bybit use dynamic withdrawal fees based on network congestion. For example, Bitcoin withdrawals typically cost 0.0005-0.001 BTC depending on network conditions. EUR withdrawals via SEPA are typically free on both platforms. Portuguese traders should check current withdrawal fees in their account before withdrawing.
Is Binance legal in Portugal?
Binance operates in Portugal and is accessible to Portuguese residents. However, regulations in the EU are evolving. As of 2026, Portuguese traders can use Binance, though some services may be restricted under MiCA (Markets in Crypto-Assets) regulations. Bybit is also accessible from Portugal. Always verify current regulatory status and use exchanges that comply with EU regulations.
How do VIP levels work on Binance and Bybit?
VIP levels are based on 30-day trading volume (in EUR or equivalent). Binance VIP 1 requires €1M+ volume, with fees dropping from 0.1% to 0.09% maker. Higher tiers offer further reductions. Bybit has similar tiers. Portuguese professional traders moving large volumes can negotiate custom rates. Both exchanges also offer maker fee reductions for providing liquidity.
Conclusion: Best Exchange for Portuguese Traders
For most Portuguese crypto traders, Binance offers better overall value due to:
- 25% fee discount with BNB (reduces fees to 0.075%)
- Wider selection of EUR trading pairs
- Free SEPA deposits and withdrawals
- More aggressive VIP discounts for active traders
However, Bybit remains competitive for derivatives traders and offers:
- Competitive futures fees
- 0% maker fees at highest VIP tier
- Clean, focused trading interface
Our recommendation: Open accounts on both exchanges. Use Binance for your primary spot trading (with BNB discount enabled) and Bybit if you actively trade futures or want platform diversification.