Choosing the right cryptocurrency exchange can significantly impact your trading success and overall experience in the crypto market. With hundreds of platforms available, each offering unique features and fee structures, finding the perfect match for your trading style requires careful research. In this comprehensive Bybit review, we'll examine this popular crypto derivatives exchange, analyzing its key features, security measures, fee structure, and overall user experience to help you determine if it's the right platform for your trading needs.
Founded in 2018 by Ben Zhou, Bybit has rapidly grown to become one of the leading cryptocurrency exchanges globally, now serving over 50 million users worldwide. Originally established in Singapore, the company later relocated its headquarters to Dubai, UAE, and is registered as Bybit Fintech FZE in the British Virgin Islands.
Bybit distinguishes itself as a crypto derivatives exchange, meaning that beyond standard spot trading, it specializes in futures contracts and other derivative products. This focus on derivatives trading has made it particularly popular among more experienced traders looking to leverage their positions and implement advanced trading strategies.
While Bybit offers services to users in over 180 countries and regions, it's important to note that it's not available in several key jurisdictions, including the United States, United Kingdom, Canada, and mainland China. This restriction is primarily due to regulatory considerations in these regions.
Join over 50 million traders worldwide and experience Bybit's professional-grade trading platform with low fees and advanced features.
Sign Up for BybitBybit offers a comprehensive suite of trading options and features designed to cater to both novice and experienced traders. Let's explore the platform's standout capabilities that have contributed to its growing popularity in the crypto trading community.
Bybit provides a diverse range of trading options, making it a versatile platform for various trading strategies:
Buy and sell cryptocurrencies at current market prices with competitive fees starting at just 0.1% for both maker and taker orders.
Trade perpetual contracts with no expiration date and leverage up to 100x, allowing for amplified exposure to market movements.
Access USDC options trading with competitive 0.02% fees for both makers and takers, offering more sophisticated trading strategies.
Open larger positions by borrowing funds with up to 10x leverage, allowing for increased potential returns on successful trades.
Automatically replicate the trades of experienced traders, making it easier for beginners to benefit from expert strategies.
Utilize automated trading strategies with spot grid bots, DCA bots, and futures grid bots to execute trades based on predefined parameters.
One of Bybit's most notable features is its high leverage options, allowing traders to amplify their potential returns. However, this also comes with increased risk, which Bybit addresses through several risk management tools:
Important: Trading with high leverage (up to 100x) carries significant risk and is recommended only for experienced traders. Even small market movements can lead to substantial losses or account liquidation when using high leverage.
Beyond its core trading functionality, Bybit offers several additional features that enhance the overall user experience:
Generate passive income through various products including savings, staking, liquidity mining, and dual asset investments.
A digital Mastercard that allows you to spend your cryptocurrencies at over 90 million merchants worldwide, supporting EUR and GBP.
Buy, sell, and trade non-fungible tokens on Ethereum and Solana blockchains with a 1% trading fee for sellers.
A custodial wallet that provides easy access to decentralized applications in DeFi, GameFi, and NFT marketplaces.
Access token sales before they go public, allowing you to invest early in potentially promising blockchain projects.
AI-powered tool that leverages real-time market data to offer insights and suggestions tailored to your trading strategies.
Security is a critical consideration when choosing a cryptocurrency exchange. Bybit implements several measures to protect user funds and maintain platform integrity, though it's worth noting that in February 2025, the exchange experienced a significant security breach resulting in the loss of approximately $1.5 billion worth of ETH. Despite this incident, Bybit was able to restore its reserves within 72 hours without pausing withdrawals.
Security Note: While Bybit maintains strong security protocols, it's worth noting that the exchange does not provide insurance coverage on user deposits, unlike some competitors. Always practice good security hygiene by enabling all available security features and considering external wallets for long-term storage of significant crypto holdings.
Bybit operates in a complex regulatory landscape and has taken steps to ensure compliance in the jurisdictions where it operates:
However, it's important to note that Bybit is not licensed in many major jurisdictions, including the United States, United Kingdom, and Canada, which is why residents of these countries cannot use the platform.
Bybit offers competitive fee structures across its various trading options, making it an attractive choice for both casual and high-volume traders. Understanding these fees is essential for optimizing your trading strategy and maximizing potential profits.
Bybit uses a maker-taker fee model, where market makers (who provide liquidity) typically pay lower fees than market takers (who remove liquidity). The fee structure varies depending on the type of trading:
Trading Type | Maker Fee | Taker Fee | Industry Average |
Spot Trading | 0.10% | 0.10% | 0.41% / 0.51% |
Perpetual & Futures Trading | 0.02% | 0.055% | 0.03% / 0.06% |
USDC Options Trading | 0.02% | 0.02% | 0.03% / 0.03% |
These fees are for VIP 0 level traders (the standard level). Bybit offers reduced fees based on your 30-day trading volume or asset balance, with fees decreasing as you progress through VIP levels up to Pro 6.
Bybit's deposit and withdrawal fee structure varies depending on the method and currency used:
Fee Optimization Tip: To minimize trading fees, consider using limit orders instead of market orders whenever possible to take advantage of the lower maker fees, especially for futures trading where the difference is more significant.
The user experience is a crucial factor in determining whether a trading platform meets your needs. Bybit offers a range of interfaces and tools designed to accommodate traders of all experience levels, though it's particularly well-suited for those with some trading knowledge.
Bybit provides multiple platforms to access its trading services:
A comprehensive desktop trading interface with advanced charting tools, order book depth, and full functionality for all trading types.
Available for iOS and Android, offering nearly identical functionality to the desktop version with intuitive touch controls and push notifications.
Robust API access for algorithmic trading with high rate limits and support for high-frequency trading strategies.
Bybit's interface is designed to balance functionality with usability, though it may present a learning curve for complete beginners:
Bybit offers 24/7 customer support in 14 languages, though the quality and accessibility of support have received mixed reviews:
Based on user feedback and our testing, Bybit's customer support can be inconsistent. During peak times, users may experience longer wait times to connect with human agents, with the chatbot being the primary point of contact. This is an area where Bybit could improve compared to competitors like Kraken that offer more reliable human support.
Try Bybit's demo account to practice trading with virtual funds before committing real money.
Sign Up for Free DemoAfter thoroughly examining Bybit's features, security, fees, and user experience, let's summarize the key advantages and disadvantages of using this cryptocurrency exchange:
"Bybit offers an impressive array of trading options and some of the lowest fees in the industry, making it an excellent choice for active traders. However, its advanced features and focus on derivatives may be overwhelming for complete beginners."
To provide a more comprehensive view of the Bybit experience, we've gathered testimonials from actual users across various platforms and forums. These real-world perspectives offer valuable insights into how the exchange performs in daily use:
"As a day trader, I've found Bybit's platform to be exceptionally responsive with minimal slippage. The low fees and high leverage options are perfect for my trading style, though I wish their liquidity was a bit higher during off-peak hours."
"The mobile app is intuitive and I love the copy trading feature as a beginner. It's helped me learn while still making some profits. Customer service was slow to respond when I had issues with verification though."
"Bybit's TradingView integration is fantastic for technical analysis. I've been using their grid trading bots with good results, averaging about 3-5% monthly returns in sideways markets. The platform is stable even during high volatility."
While individual experiences vary, common themes in user feedback include praise for Bybit's trading features and competitive fees, with some concerns about customer support responsiveness and the learning curve for new users.
To help you determine if Bybit is the right exchange for your needs, let's compare it to some of its major competitors in the cryptocurrency exchange market:
Feature | Bybit | Binance | OKX | Bitget |
Spot Trading Fees (Maker/Taker) | 0.1% / 0.1% | 0.1% / 0.1% | 0.08% / 0.1% | 0.1% / 0.1% |
Futures Trading Fees (Maker/Taker) | 0.02% / 0.055% | 0.02% / 0.04% | 0.02% / 0.05% | 0.02% / 0.06% |
Maximum Leverage | 100x | 125x | 100x | 125x |
Number of Cryptocurrencies | 650+ | 350+ | 350+ | 500+ |
Insurance Fund | Yes | Yes | Yes | Yes |
User Deposit Insurance | No | Yes (SAFU) | No | Yes |
Copy Trading | Yes | Yes | Yes | Yes |
Trading Bots | Yes | Yes | Yes | Yes |
US Availability | No | Yes (Binance.US) | No | No |
Binance is the largest cryptocurrency exchange by trading volume and offers a similar range of products to Bybit. While both platforms have competitive fee structures, Binance has slightly lower futures trading fees and higher maximum leverage (125x vs. 100x). Binance also offers the SAFU fund for user deposit protection, which Bybit lacks. However, Bybit supports more cryptocurrencies and has a more intuitive interface for derivatives trading.
OKX is another major competitor in the derivatives trading space. Both exchanges offer similar features and fee structures, though OKX has slightly lower spot trading maker fees. Bybit's advantage lies in its larger selection of supported cryptocurrencies and its more user-friendly interface. Both platforms are unavailable to US users and lack deposit insurance.
Bitget has gained popularity for its copy trading features and competitive fee structure. While Bitget offers higher maximum leverage (125x) and has a user protection fund similar to Binance's SAFU, Bybit counters with a larger selection of cryptocurrencies and a more established reputation in the derivatives trading market.
Selection Tip: When choosing between exchanges, prioritize the features that matter most for your trading style. If you're focused on derivatives trading with a wide range of assets, Bybit may be ideal. If deposit insurance and US availability are critical, consider alternatives like Binance.
Bybit implements strong security measures including cold storage for the majority of user funds, multi-signature technology, and regular security audits. The platform maintains a 1:1 reserve of all customer assets and conducts monthly proof of reserve audits. However, it's worth noting that Bybit experienced a significant security breach in February 2025, though it quickly restored reserves without interrupting operations. Unlike some competitors, Bybit does not offer insurance on user deposits.
No, Bybit does not currently support users from the United States due to regulatory restrictions. US residents are prohibited from creating accounts or using Bybit's services. Other restricted jurisdictions include the United Kingdom, Canada, mainland China, Singapore, and several others. Users from these regions should consider alternative exchanges that comply with their local regulations.
Bybit offers competitive trading fees across its various markets. For spot trading, both maker and taker fees start at 0.1%. Futures and perpetual contract trading fees are even lower, with maker fees at 0.02% and taker fees at 0.055%. Options trading fees are 0.02% for both makers and takers. These fees decrease as your 30-day trading volume or account balance increases, with VIP users enjoying significantly reduced rates.
Bybit offers up to 100x leverage on perpetual futures contracts, allowing traders to open positions worth up to 100 times their initial margin. For spot margin trading, Bybit provides up to 10x leverage. It's important to note that trading with high leverage carries significant risk and is recommended only for experienced traders. The maximum leverage available may vary depending on the trading pair and your account level.
Bybit supports over 650 cryptocurrencies for spot trading and offers more than 350 markets for futures trading. The platform includes all major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), as well as a wide range of altcoins, DeFi tokens, and memecoins. New assets are regularly added to the platform, making Bybit one of the exchanges with the largest selection of tradable cryptocurrencies.
Yes, Bybit requires all users to complete Know Your Customer (KYC) verification. There are two verification levels: Level 1 is mandatory for all users and allows for daily withdrawal limits of up to 1 million USDT. Level 2 verification increases the daily withdrawal limit to up to 2 million USDT and provides access to the Bybit Card. KYC verification typically requires providing a government-issued ID and completing a facial recognition check.
Bybit supports multiple deposit methods including cryptocurrency transfers, bank transfers, SEPA transfers (for EUR), FPS transfers (for GBP), and various third-party payment providers. Crypto deposits are free, while fiat deposits typically incur fees ranging from 0.08% to 2% depending on the method. Bybit also offers P2P trading supporting over 60 different fiat currencies, providing flexibility for users from various regions.
Bybit copy trading is a feature that allows users to automatically replicate the trades of experienced traders on the platform. There are two modes: Smart Copy Mode, which follows master traders with a fixed risk ratio based on your balance, and Advanced Copy Mode, which gives you more flexibility to customize your order settings. New users can receive up to 100 USDT compensation if their first copy trading order results in a loss, making it a lower-risk way to start trading.
After thoroughly examining Bybit's features, security measures, fee structure, and user experience, we can conclude that it's a powerful cryptocurrency exchange with particular strengths in derivatives trading. However, its suitability depends largely on your specific trading needs and experience level.
Bybit stands out for its comprehensive trading options, competitive fees, and advanced features like copy trading and trading bots. The platform's professional-grade trading engine ensures fast execution and minimal slippage, making it particularly attractive for active traders.
However, the platform's focus on derivatives and advanced features creates a steeper learning curve for beginners. Additionally, the lack of deposit insurance and its unavailability in major markets like the US are significant limitations for some users.
Join over 50 million users worldwide and experience Bybit's professional-grade trading platform with low fees and advanced features.
Whether Bybit is the right choice for you ultimately depends on your trading goals, experience level, and geographic location. We recommend starting with the demo account to familiarize yourself with the platform before committing real funds, especially if you're new to derivatives trading or using high leverage.
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