If you’re looking for an extensive Bybit review to start trading digital assets, look no further. Established in 2018, Bybit has gained immense popularity among crypto communities, especially for trading derivatives and its competitive fee structure. It also offers multiple trading features, catering to both beginners and advanced traders alike.
In this article, we’ll walk you through various aspects of Bybit, including its key features, staking options, and fees. We’ll also guide you on how to create a Bybit account, execute trades, and make deposits or withdrawals.
| Crypto exchange | Bybit |
| Launch year | 2018 |
| Founder | Ben Zhou |
| Key features and trading options | Spot trading, margin trading, futures and options trading, copy trading, P2P trading, demo trading, and trading bots. |
| Supported cryptocurrencies | 2,273+ listed tokens and 690+ trading pairs. |
| Global presence | 241+ countries |
| Daily average trading volumes | $54 billion |
| Security measures | 2FA, proof-of-reserves, anti-phishing code, cold storage, and insurance fund. |
| Accepted payment methods | 600+ payment options, including bank cards, Google/Apple Pay, and third-party gateways like Banxa, Mercuryo, and Moonpay. |
| Native token | MNT (Mantle) |
| Fiat currencies supported | 25+ fiat currencies, including USD, EUR, and GBP. |
| Trading fees |
|
| Restricted countries | 15+ countries, including the US, the UK, North Korea, and France. |
| Mobile app ratings | Google: 4.6/5 Apple: 4.7/5 |
Bybit is a leading cryptocurrency derivatives exchange and Web3 firm based in Dubai, UAE. It serves over 77 million users across 241+ countries worldwide. Touted as a cryptoark and gateway to Web3, Bybit aims to transform traditional finance and promote crypto adoption. It also consistently features among the world’s top three crypto exchanges in terms of trading volumes.
Bybit enables you to trade 519+ cryptocurrencies, including popular coins like Bitcoin and Ethereum, in the spot market. It offers 690+ spot pairs with a leverage of up to 10x.
Bybit facilitates leveraged trading, enabling traders to control large positions by investing small amounts of capital upfront. It enables you to borrow and leverage funds by collateralizing your digital assets. Moreover, you can utilize your capital efficiently and diversify your crypto portfolio.
Currently, Bybit provides a leverage of up to 125x on select futures pairs. Its TradFi platform offers up to 500x leverage on 100+ trading pairs, including forex, CFDs, cryptocurrencies, stock indices, and commodities.
Bybit offers perpetual contracts and expiry futures, settled in USDT, USDC, or cryptocurrencies. Unlike traditional futures, perpetual futures contracts have no expiration date. You can hold them indefinitely as long as you’ve sufficient margins to maintain your positions. Currently, Bybit supports 791+ derivative pairs, including perpetual contracts and regular futures.
Furthermore, the exchange enables you to trade USDT-settled Bitcoin, Ethereum, and Solana options. If you’re a BTC or ETH enthusiast, you can even opt for USDC-settled option contracts.
If you’re looking for pre-programmed and codeless robots that automate crypto transactions, Bybit trading bots are worth checking out. They provide time-saving and efficient trading strategies that boost your returns at no extra cost.
From spot grid and DCA bots to futures grid and martingale bots, Bybit offers a wide range of trading automations. Its futures combo bot is an innovative tool that helps you build a portfolio of futures contracts. It also auto-rebalances your positions periodically without disrupting the pre-defined weights of each contract. Overall, each bot is designed to capitalize on specific investment goals, market conditions, or trading styles.
Newcomers can use the Auto-fill functionality to configure bots with pre-built or high-APR parameters. Conversely, experienced traders can join the Bybit community to obtain the latest market updates and recommended strategies.
In essence, Bybit’s smart bots enable you to achieve short-term and long-term growth regardless of price movements and market volatilities.
New traders with no or little knowledge of basic or advanced strategies would find Bybit’s copy trading feature helpful. It enables you to replicate the trades of professional traders and serves as a cutting-edge portfolio management tool.
Bybit allows you to emulate up to 10 master traders simultaneously. You can also filter elite investors based on various parameters like ROI, number of followers, leaderboard rankings, etc.
However, each master trader has different settings. Therefore, you can’t combine orders from different experts.
If you’re an accomplished investor with a strong track record, you can also become a master trader. You’ll earn additional income while sharing your knowledge with others and building a follower base.
Pre-market trading is an over-the-counter (OTC) service that helps you trade perpetual contracts on upcoming tokens. You can speculate on the future prices of these contracts before they’re officially listed. If you’re short-selling or executing pre-market trades in the spot market, you can hedge your positions with pre-market perpetuals. By gaining early access to forthcoming projects, you can also avoid paying higher entry prices at launch.
Bybit conducts a call auction in three phases for users who want to trade pre-market perpetuals:
Depending on the buy/sell order quantities, the contract may get delisted. If it proceeds to a continuous auction, you can trade 24/7 as orders will be executed in real-time.
The card is compatible with Google, Apple, and Samsung Pay. Other benefits include 100% rebate on selected partners, free ATM withdrawals of up to $100, and zero issuance or annual fees.
This product comes with low entry barriers and allows traders to earn on their idle funds. Bybit offers two variants of Easy Earn: flexible-term and fixed-term products.
For flexible-term products, the daily yield depends on the quantity and type of assets invested. It is auto-calculated and updated hourly based on market trends and token type. A major advantage of flexible products is that they allow you to redeem your assets at any time.
For fixed-term products, the APR and investment tenure are predetermined when you buy the plan. Both principal and yield are automatically credited to your funding account when the tenure ends.
You can earn passive income by staking your cryptocurrencies directly on the blockchain. To simplify the staking process, Bybit manages the inherent complexities, including gas fees, node operations, and reward distribution. Thus, you can stake major assets such as Ethereum and Solana seamlessly.
When you lock up assets on proof-of-stake blockchains, you’ll get new tokens or a portion of transaction fees as rewards. In addition, Bybit offers a bonus APR to boost your earnings.
If you want to leverage the “buy low” and “sell high” strategies, Dual assets could be the perfect product for you. They help you set a target price for a cryptocurrency on a pre-determined date. You can either buy the dip or take profits, while earning an interest yield. You can also reinvest your funds to make higher gains. Moreover, dual assets help you earn even during volatile market conditions.
Double Win is an advanced structured product that enables you to profit from violent market movements in either direction. You’ll make gains as long as the settlement price moves away from the pre-defined range.
The opportune time to invest in this product is before pivotal events like Ethereum upgrades and the release of CPI reports. It also serves as a hedge against market fluctuations.
However, a double-win is not a principal-protected offering. Therefore, you’ll lose your entire capital if the settlement price falls within the preset range.
It is a principal-guaranteed product that helps you buy tokens at discounted prices. But you can make the purchase only if the settlement price is lower than the knockout price. If the settlement price is higher, you can claim the principal and interest, enabling you to earn steady returns.
The knockout price is a rate calculated by the Bybit system. It determines whether you’ll purchase the chosen cryptocurrencies or obtain the final principal and interest in USDT.
For MNT, the exchange doesn’t set price limits. Therefore, you can buy MNT tokens at the purchase price at maturity, regardless of market volatility.
In a discount buy, you’ll buy an underlying asset as long as the settlement price is lower than the knockout price. The difference between the settlement and purchase prices doesn’t matter. Additionally, you need to buy crypto at the purchase price, even if the settlement rate is much lower.
It is a structured product exclusively designed for active traders who want to engage in high-leverage trading. It offers up to 200x leverage on select contracts and is best-suited for traders who can accurately forecast market movements.
Smart Leverage entails zero trading costs and facilitates flexible redemptions, meaning you can close a position any time before settlement. Moreover, your positions aren’t liquidated before expiry.
However, you may lose your entire capital if the settlement price falls above or below a specific point. Thus, utilize the pre-built simulator to understand inherent risks before subscribing to the product.
Bybit offers a variety of liquidity pools that are based on the Automated Market Maker (AMM) model. Each pool comprises a token pair.
By adding liquidity to a pool, you can become a liquidity provider (LP), increase your share, and magnify your yield. Plus, the liquidity you add will be applied to the market. Hence, you can get a higher yield and utilize your capital more efficiently. You can also swap coins in the pool effortlessly.
However, liquidity mining is subject to impermanent losses. If you use leverage, you’re also exposed to the risk of liquidation.
Solana holders can stake SOL to receive bbSOL, Bybit’s pioneer exchange-backed liquidity staking token for Solana. bbSOL tokens represent your locked-up assets and are held as a position. When you redeem bbSOL for SOL at the prevailing exchange rate, you’ll receive your SOL principal and staking rewards.
The Bybit app is compatible with iOS and Android devices. It enjoys high ratings on both Google Play Store (4.6/5) and Apple Store (4.7/5).
The Bybit app has an intuitive design and is optimized for mobile devices. Almost all features that are available on the website are offered on the app as well. Whether you want to trade cryptocurrencies or subscribe to Bybit Earn products, everything is possible through the app. You can also visualize charts, access sophisticated technical tools, and customize layouts. In essence, trading on the go is a breeze with the Bybit app.
Bybit has implemented a tier-based fee structure. Your tier is determined based on your 30-day trading volumes, 30-day average net borrowing, or asset balance. The higher these values, the higher your level, and the lower your fees. Once you reach VIP5, you can advance to Supreme VIP or Pro1 – Pro6 levels solely based on your trading volume. Overall, Bybit’s VIP program helps reduce trading costs.
| Trading volume (in USD) | Maker fees | Taker fees | |
| Spot | >1,000M | 0.005% | 0.015% |
| Perpetuals / Futures | >5,000M | 0% | 0.015% – 0.028% |
| Options | >5,000M | 0% | 0.01% |
The exchange doesn’t levy fees for internal transfers, on-chain crypto deposits, and P2P purchases. However, Bybit users must incur transaction fees while buying cryptocurrencies. These fees will vary based on the chosen payment method. On the other hand, Bybit imposes a fixed withdrawal fee, which varies based on the chosen cryptocurrency and blockchain.
Visit the official website of Bybit or download its mobile app. Click the “Sign Up” button in the top right corner of the homepage. You’ll be redirected to the account creation page.
Enter your location and your e-mail/mobile number. If you have a promo code, enter it in the referral code field. Tick the checkbox to confirm that you agree to Bybit’s terms of service and privacy policy. Once done, click the “Create Account” tab. You can also register on Bybit using your Google, Apple, or Telegram ID.
Before verifying your e-mail or phone number, Bybit requires you to complete a simple puzzle. Next, you’ll receive a verification code on your email/mobile number. Enter the code and proceed to set up a secure password. The password should contain 8-30 characters, including a number, a lower-case letter, and an upper-case letter.
Bybit requires identity verification and doesn’t allow traders to use the platform without completing the know-your-customer process. It offers three levels of KYC verification:
Navigate to the “Trade” section on the Bybit homepage. Choose spot, futures, or options from the drop-down menu. Next, click on a coin pair to go to the trading terminal.
Review the chart to track the chosen pair’s price movements. Click on the cross option under the trade section to adjust leverage type. You can select cross, isolated, or portfolio margin mode based on your preferences.
Next to the margin type tab, you can see the leverage ratio, such as 2x, 5x, or 10x. The system displays the default leverage for the selected pair. If necessary, you can adjust the leverage ratio. Now set the order price and quantity you want to trade.
Lastly, specify any of the following order types:
Depending on market conditions and your requirements, place a buy/sell order or open a long/short futures position. In general, go long when markets are falling and go short when markets are rising.
Despite implementing powerful security measures, Bybit suffered a major security breach in February 2025. Hackers exploited the user interface of the multisig Ethereum cold wallets by launching a sophisticated phishing attack. The attack altered the smart contract logic of the cold storage, enabling hackers to steal funds worth $1.5 billion.
Post this hacking incident, Bybit has bolstered its safety measures. It replenished the stolen coins and encouraged members to track the stolen assets via the Lazarus Bounty program.
The Bybit referral program enables you to invite friends to join the platform and earn lucrative referral bonuses. Currently, referrers can earn 1,720 USDT and up to 30% commission for referring new users to the platform.
To invite new users, share your referral code or link with your friends and post it on social media. When someone registers on Bybit using your referral code, they’ll be associated with you. Therefore, you’ll automatically receive referral commissions, Bybit Card rewards, or copy trading bonuses when your invitees complete the required tasks.
If you’re a content creator, website owner, or influencer, you can grow your audience by joining the Bybit affiliate program. Even individuals with strong social networks can monetize their influence by becoming an affiliate.
Currently, Bybit affiliates can earn up to 50% commission from their referees’ trades. You’ll get an additional 10% commission if your referee becomes an affiliate. Moreover, you’ll receive 5% commission when your invitees subscribe to Bybit Earn products.
The platform’s affiliate-exclusive portal provides robust analytics, including insights into your earnings, ongoing campaigns, and latest Bybit products.
To become an affiliate, you need to fill out a simple form. If approved, you can customize and share your affiliate-exclusive referral link with friends, followers, and other users to earn commissions.
Bybit has significantly improved its regulatory efforts by securing multiple licenses worldwide. It made headlines as the first exchange to obtain a Virtual Asset Platform Operator License from the Securities and Commodities Authority (SCA) of the UAE. It also holds a license in Cyprus, allowing it to operate across the EU under the new MiCA regulatory framework. In India, Bybit resumed services after registering with the Financial Intelligence Unit-India (FIU-IND) and resolving prior compliance issues. Additionally, it has received a MiCA license from Austria’s FMA, opening access to the broader European Economic Area (EEA).
Despite these advancements, Bybit has faced some challenges, including fines in the Netherlands for operating without proper registration and a voluntary exit from Canada due to shifting regulations. The exchange also stopped some services in France because of increasing regulatory pressure.
To protect users, Bybit follows strict KYC/AML policies, uses multi-signature cold wallets, two-factor authentication (2FA), and regularly checks security. The exchange also ensures that users’ assets are fully backed by maintaining 1:1 reserves, verified by Hacken.
Bybit operates in 241+ countries worldwide. However, it doesn’t offer services in many countries, including the US, Hong Kong, Singapore, Canada, or Russian-controlled regions of Ukraine. To know if the exchange operates in your jurisdiction, check its service-restricted countries page.
Bybit provides 24/7 customer support via live chat to resolve your urgent queries. For detailed inquiries, you can drop an email to the customer service team. If you’re a VIP member or institutional investor, you’ll get 24/7 multi-language support and customized assistance.
Bybit also has a strong social media presence. You can follow the platform on X, Facebook, YouTube, Instagram, TikTok, LinkedIn, and Telegram. It is also present on community forums such as Discord and Reddit.
Additionally, Bybit’s Help Centre offers comprehensive guides, user manuals, and FAQs to help you navigate the platform and its features with ease.
Regarding customer feedback, Bybit has achieved an average rating of 3.4 / 5 on Trustpilot. Many customers, whose accounts were opened or migrated to the Bybit EU server, are facing issues while accessing their funds. Some users have even reported losing their crypto assets. They also find the support team’s response to be lackluster.
On the positive side, many users seem to be impressed with Bybit’s P2P trading platform. Some found the trading experience enjoyable, while others found the Bybit website and app easy to navigate. Overall, Bybit has received mixed reviews from users.
The exchange has also built a user feedback portal, where you can share your suggestions for improving the platform. Bybit remains committed to revolutionizing and enhancing its features and offerings based on customer feedback.
| Cryptocurrency exchange | Binance | Coinbase |
| Launch year | 2017 | 2012 |
| Founder | Chengpeng Zhao | Brain Armstrong and Fred Ehrsam |
| Key features | Spot trading, leveraged trading, futures and options trading, copy trading, P2P trading, and trading bots. | Spot trading, margin trading, and derivatives trading |
| Supported cryptocurrencies | 429+ coins and 1,576 token pairs. | 328+ coins and 473+ token pairs |
| Global presence | 100+ countries | 100+ countries |
| Security measures | Secure Asset Fund for Users (SAFU), 2FA, Withdrawal Whitelisting, Cold Storage | 2FA, withdrawal allowlisting, data encryption, bug bounty programs, mobile biometrics, and proof-of-reserves. |
| Accepted payment methods | 700+ payment methods, including bank transfers and credit/debit cards. | 15+ payment methods, including bank transfers and Google/Apple Pay. |
| Native token | BNB (Binance Coin) | – |
| Fiat currencies supported | 99+ fiat currencies | 60+ fiat currencies |
| Trading charges |
| 0.4% for makers and 0.6% for takers. |
| Restricted countries | 20+ countries, including the US, the UK, and Canada. | Jurisdictions that are subject to sanctions programs governed by the US Treasury and other authorized bodies. |
| Mobile app ratings | Google Play: 4.7/5 Apple: 4.8/5 | Google Play: 4.4/5 Apple: 4.7/5 |
Bybit is a legally compliant cryptocurrency exchange with strong security measures. It also offers a smart trading system with an ultra-fast matching engine and strategy alerts to elevate your trading experience. It offers numerous features, including advanced tools and fee savers for both casual and high-volume traders. Thus, Bybit is an amazing platform to herald and enhance your crypto trading journey.
Bybit is regulated by recognized bodies like the Virtual Assets Regulatory Authority (VARA) and the Financial Markets Authority (Austria). Recently, the exchange also obtained the coveted Markets in Crypto-Assets Regulation (MiCAR) in Austria. Moreover, Bybit stands out for its security measures like 2FA, multi-signature cold wallets, anti-phishing codes, and hardware security keys. Thus, Bybit is trustworthy.
Bybit is banned in the US due to regulatory challenges. It failed to comply with the strict regulatory standards enforced by the Securities Exchange Commission and the Commodities Futures Trading Commission.
Bybit is not legal in the US due to regulatory non-compliance. Additionally, accessing Bybit using VPNs is considered a violation of the exchange’s terms of service. Moreover, US residents can’t complete Bybit’s strict identity verification process or report their earnings from the platform to the IRS.
For beginners, crypto exchanges with simple user interfaces, educational resources, potent security features, and low trading fees are better. Feature-packed platforms with advanced trading options may overwhelm newcomers.
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