Bypass Question

I’ve noticed that some plugins have a BYPASS button on there interface. Is there a functional difference between the default Bypass Effect in the upper left-hand corner and the BYPASS button?

Should one be chosen over the other?

They are functionally the same.

However alt+clicking on the Insert Bypass button will turn the Insert off. Also on the plug’s interface you can Disable the plug (as opposed to Bypass). Both of these will save computing resources because they are truly off and not just Bypassed.