With the rising appetite for leverage and sophisticated trading instruments, platforms such as Bybit are proving to be essential for traders looking for greater profits and versatility.
Since its inception in 2018, Bybit has gained recognition for its user-friendly design, competitive fees, and robust security protocols, which appeal to novice and seasoned traders alike. The platform shines with its offerings, such as contracts and futures, that empower users to leverage and handle their trades efficiently.
This Bybit futures review will examine the platform’s features, such as fees, leverage options, and security measures, to help you understand how Bybit can align with your trading approach.
Bybit Futures Review
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Our verdict on Bybit Futures
Bybit Futures is a popular option among crypto traders looking for a trustworthy platform that offers security, competitive fees, and advanced functionalities. Whether you’re a novice or an experienced trader, Bybit balances user-friendliness and advanced trading features.
One notable feature of Bybit is the ability to use leverage, allowing users to amplify their positions on popular pairs like BTC/USDT and ETH/USDT. Novice traders benefit from a straightforward interface and educational resources, while more seasoned traders can refine their strategies with advanced tools like cross-margin and isolated-margin options.
However, the platform does not support direct fiat deposits, which may be inconvenient for some users who prefer traditional payment methods. Additionally, Bybit is unavailable to U.S. residents due to regulatory restrictions, and its predominant reliance on USDT as the stablecoin for leveraged trading might not suit all preferences.
Customer support is offered around the clock, and according to feedback, the usual response times via chat are usually prompt, although they may take longer during busy trading periods.
In summary, the Bybit Futures trading platform stands out for its combination of low fees, strong security measures, and advanced features, making it a preferred option for cryptocurrency traders seeking both flexibility and dependable futures trading opportunities. For a comparison with similar platforms, take a look at our Bybit versus Binance comparison.
Pros and cons of Bybit Futures
Bybit Futures offers several strengths, particularly in terms of leverage and trading tools, but also has some limitations. Here’s a quick look at the key pros and cons to consider.
Pros
- Bybit exchange offers leverage up to 100x on major cryptocurrency pairs like BTC/USDT, ETH/USDT, and others, providing traders with the ability to maximize their positions.
- Supports over 300 cryptocurrencies, allowing a broad range of digital assets and futures contracts for users to trade (this number has been updated from over 100 to over 300).
- Low trading fees make it competitive for both beginner and professional traders, particularly in the futures market.
- Advanced trading tools such as cross-margin, isolated-margin, and advanced risk management options make it ideal for experienced traders.
- Bybit futures trading interface is user-friendly and accessible to both beginners and advanced users, enabling smooth navigation.
- High-security measures, including two-factor authentication (2FA), SSL encryption, and cold storage are implemented, to protect user assets.
- Mobile trading app for iOS and Android enables users to trade on the go without losing access to advanced features.
Cons:
- Unavailable to U.S. residents due to regulatory restrictions, limiting its user base.
- No direct fiat deposit options, meaning users need to deposit cryptocurrency, which may not suit all traders.
- Heavily reliant on USDT as the primary stablecoin, which may limit flexibility for users preferring alternatives like USDC or BUSD.
- Inconsistent customer support response times, especially during peak trading periods, though 24/7 support is available.
Methodology: How we scored Bybit Futures
We scored the Bybit Futures platform on the following criteria, which were measured across 46 individual data points. Our expert reviewers also applied their own experience with the platform when judging subjective qualities like ease of use and customer service.
- Supported Cryptocurrencies: Bybit provides a range of over 300 cryptocurrencies for futures trading. This includes well-known coins such as Bitcoin (BTC), Ethereum (ETH), and various altcoins, giving it an edge over other exchanges. For a comparison of Bybit with margin trading platforms, take a look at our guide on best crypto margin trading exchanges.
- Payment Methods: Traders on Bybit have the opportunity to utilize leverage, reaching 100x. This feature attracts risk-taking traders as well as those seeking to safeguard their investments.
- Fees: Bybit futures fees stand out as a feature, providing low fees for both market makers and takers. Additionally, we evaluated the platform’s deposit and withdrawal charges, discovering that they are competitive with benchmarks.
- Ease of Use: The platform provides a user-friendly layout with tutorials and educational materials. Its setup ensures seamless browsing for novice and experienced traders alike.
- Features: Bybit futures trading platform offers tools like cross-margin and isolated-margin trading, perpetual contracts, and a futures calculator. We evaluated the benefits of these tools for managing trades and reducing risk.
- Customer Service: Bybit provides 24/7 live chat support, with most users reporting quick and helpful responses. However, during peak times, response times can be slower, and email queries may take 24-48 hours to resolve. Despite occasional delays, the overall support experience is generally positive.
- Reputation and Security: The Bybit platform is known for its dependability in the world of cryptocurrencies. We evaluated its security measures like authentication (2FA) and the use of storage for funds, along with frequent audits of the platform.
These standards provide a look at Bybit’s performance in key aspects such as trading features, fees, and security. This helps traders to better understand the platform before choosing Bybit for their futures trading requirements. If you’re interested in comparing platforms, you might want to explore our list of the best futures brokers.
About Bybit Futures
Since its launch in 2018, Bybit has quickly established itself as a leading platform for cryptocurrency derivatives offering advanced features for futures trading. Founded by Ben Zhou and based in Dubai, the company caters to a user base worldwide with millions of registered users.
Recent news about the Bybit futures platform showcases the launch of Coin M futures. Coin-M futures are contracts that utilize cryptocurrencies, like Bitcoin or Ethereum, for margin and settlement purposes instead of using stablecoins, such as USDT. This improvement gives users flexibility by offering settlement choices and including contracts that support different leveraged trading strategies.
Although Bybit is prohibited for users in the U.S. due to regulations, the platform has been making strides in areas such as providing security features and fast trading options to attract traders globally.
Keep an eye on new Bybit listings to stay informed about upcoming assets on the platform.
Bybit Futures fees
Bybit Futures trading fees are transparent and competitive for both spot and futures trading. Below is an overview of the deposit, withdrawal, and trading fees on the platform:
Deposit and withdrawal fees (USD)
| Deposit | Withdraw | |
| Bank account | Not supported | Not supported |
| Debit card | 3%-4.5% (via third-party) | Not supported |
| Credit card | 3%-4.5% (via third-party) | Not supported |
| PayPal | Not supported | Not supported |
| Crypto | Free | Varies by crypto. |
Trading fees
| Buy (taker) | Sell (maker) | |
| Instant purchase | 3%-4.5% (via third-party) | 3%-4.5% (via third-party) |
| Spot market | Not supported | Not supported |
| Futures | 0.06% | 0.01% |
Bybit Futures supported cryptocurrencies
Bybit provides support for over 300 cryptocurrencies with a range of futures contracts. Here are a few of the cryptocurrencies that are frequently traded as futures on Bybit:
| Cryptocurrency | Leverage Available | Margin Currency |
| Bitcoin (BTC) | Up to 100x | BTC, USDT |
| Ethereum (ETH) | Up to 100x | ETH, USDT |
| Solana (SOL) | Up to 50x | USDT |
| Polkadot (DOT) | Up to 50x | USDT |
| Cardano (ADA) | Up to 50x | USDT |
| Avalanche (AVAX) | Up to 50x | USDT |
| XRP (XRP) | Up to 50x | XRP, USDT |
| Chainlink (LINK) | Up to 50x | USDT |
| Litecoin (LTC) | Up to 50x | USDT |
| Dogecoin (DOGE) | Up to 25x | USDT |
| Shiba Inu (SHIB) | Up to 25x | USDT |
| Tron (TRX) | Up to 50x | USDT |
| Polygon (MATIC) | Up to 50x | USDT |
Bybit stands out among futures platforms with its diverse range of assets offering traders opportunities, in both major and alternative coin markets.
Bybit Futures key features
Bybit futures trading platform provides a variety of tools tailored for novice and experienced traders alike. Let’s take a look at the standout features that position Bybit as a leading player in the realm of futures trading.
- Leverage Options: Bybit offers leverage of up to 100 times on popular cryptocurrency pairs such as BTC/USDT and ETH/USDT. This substantial leverage enables traders to enter larger trades but also carries a significant risk.
- Futures or Derivatives: Bybit provides a range of futures contracts such as USDⓈ-M (USDT margined) and Coin-M (cryptocurrency margined) allowing users to opt for stablecoin or cryptocurrency-based settlements.
- Perpetual Contracts: Bybit Futures offers perpetual futures contracts. These contracts don’t have a date, enabling traders to maintain their positions for as long as they wish. To keep the prices in line with the market, funding rates are utilized.
- Order Types: The Bybit platform provides various order options including limit orders, market orders, stop-limit orders, and take-profit orders. This versatility allows traders to execute their strategies effectively.
- Cross and Isolated Margin: Traders have the option to select between cross margin and isolated margin based on their risk appetite and trading approach. Cross margin spreads the margin across various positions, while isolated margin confines the risk to a single position.
- Trading Bots: The Bybit exchange platform provides users with the ability to automate their trading approaches using trading bots. These bots are capable of carrying out trades according to predetermined criteria, enhancing trading effectiveness.
- Token Launchpad: The Bybit Launchpad acts as a platform for projects, offering users the opportunity to invest in tokens at a stage before they are listed on exchanges.
- Advanced Trading Tools: The platform offers traders various practical resources, including the Bybit futures calculator for PnL calculations to help them monitor their trades by assessing potential profits or losses in different scenarios.
If you’re interested in delving into some other cryptocurrency platforms platforms, check out our detailed overview of the best crypto exchanges for day trading.
Bybit app review
Suitable for both beginners and experienced users, the Bybit application offers a standard and leveraged trading experience similar to the desktop version. It offers spot trading, futures contracts, and a range of order types, enabling users to trade seamlessly while maintaining all the features.
Although the mobile application offers a user-friendly interface and robust security measures such as two-factor authentication (2FA) it may not be as suitable for in-depth charting and analysis as its desktop counterpart. Nevertheless, the app’s responsiveness and user-friendliness make it a dependable option for executing trades and monitoring positions, allowing traders to remain active even when they are not at their computers.
User ratings of Bybit Futures
| Rating | Number of reviews | |
| Google Play | 4.6 | 1.06 M |
| Apple Store | 4.7 | 29.3K |
| Trustpilot | 1.5 | 1500 |
Bybit Futures customer satisfaction
The Bybit Futures exchange often gets reviews from users who appreciate its user-friendly design and diverse trading choices. Traders value the platform’s speed and security, although some have pointed out areas that could be enhanced, such as the responsiveness of customer support.
One user on the Google Play Store commended the platform, saying: “It’s beginner-friendly and easy for both new and experienced traders to navigate. Transactions are fast, secure, and reliable, providing peace of mind when trading. The range of supported payment methods is impressive, catering to a wide audience.”
On the other hand, users have also encountered problems. A Trustpilot reviewer expressed dissatisfaction, stating: “Every time I want to buy crypto with a credit card, my account is blocked, and I have to always prove ownership of the card. It’s a bit annoying doing this on a weekly basis.”
Bybit Futures customer support
Bybit Futures provides support to its customers through channels such as round-the-clock live chat and an extensive FAQ section. Although the chat feature offers quick responses, users have noted delays at times, during busy periods. Additionally, the platform offers email support and keeps social media channels active for further help.
During our evaluation of Bybit’s chat support, we were connected to a representative in just 7 minutes. The support team demonstrated expertise and offered assistance, although it took longer than anticipated to address questions.
How to reach Bybit customer support
- Live Chat
- Email Support
- FAQ Section
- Help Center
- Social Media (Twitter, Telegram)
Is Bybit Futures safe?
The Bybit exchange has put in place security measures to guarantee a secure trading experience for its users. Here are the points highlighting Bybit’s safety protocols.
- Security: Bybit uses security measures like two-factor authentication (2FA) and SSL encryption to safeguard user accounts. To reduce the risk of breaches, most funds are kept in cold wallets.
- Insurance: Bybit has set up a fund to compensate users for losses sustained in liquidations or unexpected market downturns. Although this fund offers some coverage against losses, it doesn’t provide deposit insurance similar to what is offered by banks.
- Proof of Reserves: Bybit is committed to providing proof of its reserves through audits conducted by third parties. This demonstrates that the platform possesses sufficient assets to cover user balances. The aim of this strategy is to enhance transparency and build trust among traders by validating the platform’s liquidity.
- Past Hacks: In contrast to other exchanges, Bybit has managed to avoid significant security breaches since its inception. This impressive history has played a role in establishing its credibility as a reliable platform within the cryptocurrency industry.
- Legal Issues: Bybit is encountering difficulties in the United States,due to regulations that oversee its operations. The platform is adhering to these rules and exploring opportunities to expand into markets where it can function within the legal framework.
Reputation: Bybit, despite having restrictions in certain areas, holds a position of importance in the worldwide cryptocurrency scene. It is known as a trustworthy platform for futures trading with a user base spanning the globe. Its commitment to safety, openness, and sophisticated trading features has garnered confidence from both beginner and seasoned traders.
How to trade Futures on Bybit?
Beginning your journey into futures trading on Bybit is a straightforward process, tailored for traders. Here’s a guide outlining the steps to establish your account, deposit funds, and execute your initial futures trade.
How to open a Bybit Futures account
Step 1: Create a Bybit Account
To set up a Bybit futures account, start by going to their website or getting the Bybit app from the iOS or Android store. After that, click on ‘Sign up’ and register using your email or phone number. Make sure to create a password and confirm your email or phone by entering the code you receive.
Step 2: Complete KYC Verification
After signing up, you must complete the KYC process before unlocking withdrawal limits and features. Simply navigate to the settings and choose ‘Verify Identity.’ You’ll be required to submit an ID like a passport or driver’s license and a selfie for facial recognition. The verification typically takes anywhere from minutes to a few hours.
Step 3: Activate Two-Factor Authentication (2FA)
To enhance account protection, consider activating two-factor authentication. You can achieve this by linking your account to the Google Authenticator app or by choosing SMS-based 2FA.
Step 4: Access the Futures Trading Dashboard
After verifying your account and enabling 2FA, head to the ‘Futures’ section. Agree to the terms and conditions, pass the risk warning test, and you’ll be all set to begin trading futures on Bybit.
How to fund your Bybit Futures account
Step 1: Deposit Cryptocurrency
Bybit doesn’t support fiat currency deposits; therefore, you’ll have to use cryptocurrencies. Once you have created your Bybit account, go to the deposit section and click on ‘Deposit.’
Choose the cryptocurrency you wish to deposit, such as USDT or BTC, and generate a deposit address. You can then utilize this address to transfer funds from your wallet or a different exchange.
Step 2: Transfer Funds to Your Futures Account
After verifying your deposit, head to the ‘Assets’ section and hit ‘Transfer.’ Pick the amount of cryptocurrencies you want to move from your Spot Portfolio to your Futures Portfolio. This transfer enables you to utilize those funds for futures trading.
Step 3: Check Your Balance
Once the transfer is complete, check your Futures Portfolio. Make sure the funds have been successfully transferred and are ready for trading.
How to make a trade on Bybit Futures
You can trade Bybit futures easily by following the steps below:
Step 1: Select Your Trading Pair
Go to the futures trading section of the platform and select the trading pair you prefer, such as BTC/USDT or ETH/USDT. Bybit offers two types of futures contracts, USDⓈM (USDT margined) and CoinM (crypto margined), allowing you to pick based on your preferences.
Step 2: Adjust Leverage
To set your desired leverage, click on the leverage option located above the order box. Bybit allows for leverage up to 100x on pairs. Adjust the leverage level based on your risk appetite, bearing in mind that higher leverage amplifies the potential rewards as well as the associated risks.
Step 3: Place Your Order
Decide what kind of order you’d like to make. Bybit Futures exchange offers Limit Orders, Market Orders, Stop Limit Orders, and Take Profit Orders. Specify how many contracts you want, and choose if you’re going Long (Buying) or Short (Selling) based on your market perspective.
Step 4: Monitor and Manage Your Trade
Once you’ve made an order, it’s crucial to keep an eye on your trades in the Positions area. You can establish Stop Loss or Take Profit points to control your risk. If you wish to wrap up a trade, you can utilize the Close Market option or select Limit Close to exit at a specific price.
Exchanges like Bybit Futures
| Exchange | No. of Cryptos | Funding | Trading Fees | Support | KYC |
|---|---|---|---|---|---|
| OKX | 350+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0.08%; Taker: 0.1% Better rates available to VIP users | Live chat, email, voicemail | Yes |
| MEXC | 2,600+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0%; Taker: 0.2% | Email, ticket system, live chat | Yes |
| Binance | 350+ | Binance P2P, cash, crypto deposit, bank transfer | Maker: 0.1000% Taker: 0.1000% | Email, live chat | Yes, but possible to bypass with limited features |
| Margex | 40+ | Credit card, global bank transfer, P2P trading, third-party payments | Maker: 0.01%; Taker: 0.06% | Live chat, email | Yes |
| ByBit | 650+ | Credit card, global bank transfer, P2P trading, third-party payments | Spot trading: Maker: 0.01%; Taker: 0.06% Rates vary by trading type. VIP rates also available. | Yes | |
| Bingx | 700+ | Credit card, global bank transfer, P2P trading, third-party payments | Varies by token type | Ticket system | Yes |
| Kucoin | 900+ | Credit card, global bank transfer, P2P trading, third-party payments | Tiered 0.00%-0.1% | Live chat | Yes |
