With over 60 million users, Bybit has built a reputation as a top crypto exchange. It offers many trading options, competitive fees, and strong security.
Despite a $1.5B hack, Bybit responded swiftly, reinforcing its systems and maintaining user trust. The platform also continues to expand, securing initial approval in the UAE while launching new features like Gold and FX Copy Trading.
This Bybit review breaks down trading fees, security measures, customer support, and key updates, giving you everything you need to maximize on Bybit’s growing ecosystem with confidence.
Note: This article’s numbers, facts, and figures were accurate when publishing.
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Bybit leverage
Bybit is a crypto exchange focused on leveraged trading. It offers margin trading with up to 200x leverage on select coins, making it a go-to for both beginners, experienced and large crypto traders looking to maximize market moves.
Bybit stands out by letting you adjust leverage even after opening a trade—something rare in crypto trading. It also offers leveraged tokens with fixed leverage, like 3x, so you don’t have to manage margin yourself.
The exchange, however, is not just about trading. It’s about a secure and functional trading experience. The platform supports spot trading and features an intuitive trading terminal. Automated grid bot trading caters to high-volume trading needs.
Bybit’s educational initiatives and a testnet for newcomers lay a solid foundation for learning derivatives trading. The platform’s unique features, including an intelligent trading system, an HD cold wallet, and a 100K TPS matching engine, ensure robust security and high functionality, setting it apart from its competitors.
Payment methods are diverse, and Bybit supports over 55 currencies through its fiat gateway. However, Bybit is not accessible to U.S. traders, which limits its reach.
While generally robust, customer service has occasionally been criticized for delays. Overall, Bybit offers a comprehensive, secure trading environment with features that distinguish it from competitors.
Bybit’s pros and cons
This Bybit review section examines the platform’s pros and cons to provide a balanced understanding.
Pros:
- Deep liquidity – High trading volume ensures minimal slippage.
- No KYC for basic use – Users can trade without verification (limits apply).
- USDC options trading – Rare among crypto exchanges, offering more flexibility.
- Unified trading account – Streamlines margin across different trading pairs.
- Customizable grid bots – Built-in automated trading tools for passive strategies.
- Testnet for paper trading – Users can practice trading with virtual funds.
- Strong derivatives offering – Includes inverse perpetual, linear perpetual, and futures.
- Frequent airdrops & rewards – Loyalty perks for active traders.
- Intuitive UI for advanced tools – Offers TradingView integration and detailed analytics.
Cons:
- Restricted in key regions – Banned in the U.S., Canada, and parts of Europe.
- No direct fiat withdrawals – Users must convert crypto to cash via third-party services.
- Limited spot trading pairs – Fewer options than Binance or Coinbase.
- High leverage risks – Up to 100x leverage can amplify losses quickly.
- Occasional system overloads – Platform slows down during extreme market volatility.
- Withdrawal fees vary – Costs can be unpredictable for certain crypto withdrawals.
- Complex derivatives for beginners – Not ideal for casual traders unfamiliar with futures.
- Inconsistent customer support – Slow response times reported by some users.
- Limited staking/yield options – Fewer passive income opportunities than competitors.
About Bybit
Bybit, a leading cryptocurrency spot and derivatives exchange, has been operational since 2018.
Inspired by the need for a trustworthy exchange, Bybit’s founder aimed to create a platform blending the best aspects of crypto and traditional finance, allowing users to trade “bit by bit” – a motto that became the company’s name.
Based at the Dubai World Trade Center, Bybit is now the world’s second-largest crypto exchange by 24-hour trading volume. It holds over 16% of the market and has grown from 300,000 users in 2019 to more than 60 million worldwide.
Bybit’s unique selling point is its small perpetual contracts, each valued at $1 USD. This appeals to a broader audience compared to larger contracts found elsewhere. Bybit offers leverage options up to 100:1 but adjusts this based on position size to manage risk. You can find more details on their Risk Limit Levels page.
Bybit trading platform
Bybit offers trading in inverse, linear perpetual, and quarterly futures contracts. The platform’s state-of-the-art matching engine manages 100,000 transactions per second, ensuring stability during market volatility.
Bybit’s innovative features include a dual-price mechanism and significant market depth, ensuring minimal price impact for trades. It provides a secure environment with an insurance fund to mitigate risks.
While it’s known for high-leverage trading, Bybit also supports spot trading and offers various passive income products. Despite its global reach, Bybit is unavailable in the U.S. due to regulatory restrictions.
Other regions/countries where Bybit is unavailable include Québec (Canada), Singapore, Cuba, Crimea, Iran, Mainland China, North Korea, Syria, and Sudan.
Bybit further prioritizes security with an “insurance fund” currently topping over $413M (as of the company’s insurance fund).
This fund safeguards traders if liquidation occurs below their “bankruptcy price.” Traders’ initial margins fund it and replenish itself through liquidations, ensuring availability to compensate counterparties and protect traders during extreme market events.
Bybit deposit, withdrawal, and trading fees
Bybit’s fee structure is tiered, offering discounts for VIP users based on their asset balance or 30-day trading volume. VIP levels update daily, with higher levels granting greater discounts. For instance, a $250K asset balance or $6 million 30-day spot trading volume qualifies for VIP Level 3.
However, exact trading fees can vary by region, so users are advised to check their personalized fee rate after completing identity verification.
Deposit and withdrawal fees
Trading fees
| Type | Maker fee | Taker fee |
| Spot trading | 0.1% | 0.1% |
| Perpetual & Futures | -0.025% | 0.075% |
| Options trading | 0.02% | 0.02% |
Deposit fees
| Payment method | Fee |
| Cryptocurrency (On-chain deposit) | Free |
| Internal transfers (Between Bybit accounts) | Free |
| Bank account (SEPA – EU transfers) | Varies by provider |
| Bank account (Non-SEPA) | Varies by provider |
| Debit/Credit Card | Varies by provider |
| PayPal | Varies by provider |
| P2P trading | Free (payment provider fees may apply) |
Withdrawal fees
| Asset | Fee |
| Bitcoin (BTC) | 0.0005 BTC |
| Ethereum (ETH) | 0.0025 ETH |
| USDT (ERC-20) | 10 USDT |
| USDT (TRC-20) | 1 USDT |
| Bank Account | Varies by provider |
| Debit/Credit Card | Varies by provider |
| PayPal | Varies by provider |
Bybit provides competitive trading fees, with higher discounts available for higher trading volumes or asset balances. This tiered fee structure rewards active traders, making Bybit a cost-effective choice for high-volume trading.
Supported cryptocurrencies
Bybit offers a carefully chosen range of cryptocurrencies for trading. They have over 530 cryptocurrencies available in over 650 spot markets and 665 futures and perpetual options trading pairs. We’ve compiled a list of interesting Bybit listings for you to explore.
This provides access to diverse popular and cutting-edge digital assets from which to trade and potentially profit. Bybit is a derivative cryptocurrency exchange established in 2018.
The reported 24-hour trading volume on Bybit is over $5 billion, while the futures market boasts a significantly higher volume of over $26 billion.
ByBit review: Exploring its key features
Bybit isn’t just another crypto exchange—it’s a full-fledged trading hub. It’s the first to offer Gold and FX Copy Trading, letting you mirror top traders’ strategies on MT5. That means easier access to Gold and Forex without deep market knowledge.
Beyond that, Bybit delivers a massive range of trading tools. You get leverage trading, instant trade execution, and multilingual support. Making it one of the best auto trading platforms available today.
The platform also features an NFT marketplace, fiat withdrawals, crypto loans, and a Bybit crypto debit card.
New to trading? Bybit’s testnet lets you practice risk-free, while Bybit Learn and social media classes help you master trading strategies. Whether into futures, margin trading, or exploring new markets, Bybit makes it simple to level up your skills and trade confidently.
Bybit trading features
| TWAP Orders: Price Limit Feature | Sets a custom price threshold that automatically stops TWAP orders when the market reaches your defined limit. |
| TWAP Orders: Multiple Strategies per Symbol | Enables up to 10 simultaneous strategies per symbol for improved management and flexibility. |
| Margin Trading | Amplify your profits by borrowing funds to trade futures contracts with up to 100:1 leverage on perpetual contracts. |
| Perpetual Contracts | Utilize various order types, including limit, market, stop, and trailing stop orders. |
| Copy Trading | Copy trades of experienced traders automatically. |
| Inverse Perpetual Contracts | Hedge against price drops with profits made when the price goes down. |
| Order Types | Utilize various order types including limit, market, stop, and trailing stop orders. |
| Advanced Trading Tools | Access customizable interfaces, charting tools, and order book depth. |
| Stop-Market Orders and Take-Profit Orders | Automate trades to lock in profits or minimize losses. |
| Unified Trading Account | Seamlessly manage funds across Bybit’s products and services. |
| Trailing Stop Orders | Adjust stop prices automatically as the market moves in your favor. |
| OCO Orders (One-Cancels-the-Other) | Place two orders simultaneously, with one canceling if the other is filled. |
| Chase Orders: Enhanced Logic for Max. Chase Distance | Executes trades at the best bid and asks prices for the fastest execution. |
| Iceberg Orders: Fastest Execution Option | Utilize various order types, including limit, market, stop, and trailing stop orders. |
| Iceberg Orders: Enhanced Price Limit Feature | Orders are placed only within pre-set price limits; execution pauses if limits are breached. |
Bybit earning features
| Bybit Earn | Earn interest on idle crypto holdings through fixed-income products, flexible savings plans, and staking services. |
| Launchpool | Participate in new crypto projects by staking Bybit’s token, BIT. [Note. ByBit is partnered with BitDAO, which has BIT as its native token.] |
| Referral Program | Earn commissions for referring friends to Bybit. |
| Liquidity Mining | Earn rewards from trading fees by adding crypto holdings to liquidity pools. |
| Dual Asset | Invest in asset pairs with a predetermined payoff range. |
| Discount Buy | Buy crypto at a discounted price by locking up funds. |
| Smart Leverage | Automatically adjust leverage ratios based on market conditions. |
| Wealth Management | Access a suite of investment products to potentially earn returns in all market conditions. |
| Bybit Savings | Earn interest on idle crypto holdings with various flexible and fixed-term savings plans. |
| ETH 2.0 Staking | Support Ethereum 2.0 network staking and earn rewards. |
| Double Win | Combine leveraged positions with fixed-income investments. |
Bybit review: The mobile app
Bybit’s mobile app makes trading fast and easy, whether you’re a beginner or a pro. Available on Google Play and the App Store, it brings the full Bybit experience to your phone—no desktop needed.
You get real-time price alerts, instant conversions, and built-in “Stop Loss and Take Profit” options to manage risk. The mobile-friendly order book and quick access to trending tokens make tracking the market easier.
The app also connects you to Web3, so you can interact with decentralized applications without switching platforms. Plus, mobile users get exclusive promotions and early access to new features.
If you want quick trades, a clean interface, and direct access to crypto markets, Bybit’s app keeps everything in one place—without the extra steps.
Bybit review: User ratings
| Platform | Rating | Number of reviews |
| Google Play | 4.5/5 | 1.5M |
| Apple Store | 4.7/5 | 37.8k |
| Trustpilot | 2.9/5 | 3.3k |
| TradingView | 4.8/5 | 14.9K |
Customer satisfaction
User sentiment towards Bybit is mixed. Positive reviews highlight the platform’s user-friendly interface and supportive customer service. For instance, one user praised Bybit’s VIP system and insurance fund, noting the added security and cost savings. The platform’s positive reception positions it among the best options for IDOs and launches.
Conversely, negative feedback often centers around account issues and customer support delays, with some users reporting unresolved cases and lack of live agent support. As one dissatisfied user stated, “Approach this exchange cautiously due to poor communication and unresolved issues.”
For these sections, keep in mind the following: Even though Bybit has a low rating on Trustpilot and some users have complained about their accounts freezing, it’s possible that competitors are writing negative reviews. Additionally, people are more likely to leave reviews when they are dissatisfied. Account freezes typically occur due to suspicious activity or platform rules violations.
Customer support
Bybit offers various customer support options, including live chat, email, and a comprehensive FAQ section.
However, based on our research for this Bybit review, we have found that user reviews indicate inconsistent support responsiveness, which may lead to delays in resolving issues for some users.
You could better understand response times and effectiveness by testing the support channels yourself.
- ✅ Live chat: Accessible via Bybit’s website and mobile app.
- ✅ Email support: Available for detailed inquiries.
- ✅ FAQ section: Provides answers to common questions and issues.
- ✅ Educational resources: Access articles, tutorials, and webinars for cryptocurrency trading education.
Bybit review: Is the platform safe?
Despite a $1.5 billion hack linked to North Korea—spread across 47 incidents—Bybit has strengthened its security measures to protect users’ funds and data.
Hackers exploited security gaps and moved the stolen assets to an unknown address, marking one of the largest crypto thefts ever.
This 2025 Bybit hack raises serious questions about the safety of cryptocurrency exchanges. Here’s an analysis based on the provided information:
Sophistication of attacks:
The fact that a sophisticated, state-sponsored group like those linked to North Korea could penetrate Bybit’s defenses highlights the increasing sophistication of cyberattacks.
This indicates that even platforms with robust security measures can be vulnerable to determined adversaries. Advanced laundering techniques, such as cross-chain bridges and decentralized exchanges, demonstrate the challenges in securing digital assets.
Vulnerability of centralized exchanges:
This incident underscores the inherent vulnerabilities of centralized cryptocurrency exchanges.
By consolidating large amounts of assets, these platforms become attractive targets for hackers. The fact that access was gained by exploiting a developers computer shows that the human element is a major weak point.
This is a weakness that will be present in every centralized exchange.
Challenges of asset recovery:
The difficulty in recovering the stolen funds highlights the challenges of tracing and retrieving cryptocurrency assets.
The use of complex laundering techniques makes it extremely difficult for law enforcement and blockchain analysis firms to recover the stolen funds.
Even with the best efforts, full recovery is not guaranteed. This problem is compounded by the decentralized nature of many of the tools used in the money laundering.
The importance of security measures:
While the hack is a major setback, Bybit’s response, including collaboration with blockchain analysis firms and law enforcement, demonstrates the importance of robust security measures.
The existence of an insurance fund, while potentially insufficient to cover the entire loss, also provides some level of protection for users. However, it is clear that security measures must be constantly updated and improved to keep pace with evolving threats.
The fact that Bybit is working with security firms, shows that they take security seriously.
Regulatory concerns:
The fact that these kinds of hacks are happening, also brings to light the lack of consistent regulation within the crypto space.
The need for clear security standards and regulatory frameworks for digital assets is becoming increasingly apparent. The absence of legal clarity exposes investors to significant risks and hinders the development of a secure and stable cryptocurrency ecosystem.
Without clear regulation, these kinds of hacks will likely continue.
In conclusion, while Bybit, like many exchanges, implements security measures, the 2025 hack demonstrates that no platform is entirely immune to sophisticated attacks. Users must remain vigilant and aware of the risks associated with cryptocurrency trading.
Bybit compliance
- UAE Approval: Bybit just scored initial approval in the UAE, pushing forward its global expansion and regulatory efforts. This move strengthens its presence in key markets, even as the industry faces security challenges. The exchange continues to refine compliance measures, reinforcing trust while growing its reach.
- Membership in VerifyVASP Alliance: Bybit integrates with VerifyVASP, a solution that streamlines compliance with the Financial Action Task Force’s (FATF) Travel Rule. This rule requires exchanges to collect and share user information for transactions above a certain threshold.
- ISO 27001 Certification: Bybit has obtained ISO 27001 certification, a globally recognized standard for information security management. This demonstrates their commitment to protecting user data and information security.
Bybit review conclusion
Bybit carves out a strong niche for derivatives enthusiasts and offers a compelling platform for experienced traders. The user interface is sleek, fees are competitive, and the focus on security is commendable.
However, Bybit’s leverage options and complex features can be daunting for beginners. Additionally, Bybit’s regulatory restrictions may limit user access in certain countries.
Ultimately, Bybit’s suitability depends on your experience level and location.
This Bybit review finds that if you’re a seasoned trader comfortable with derivatives and reside in a supported region, Bybit is a solid platform to consider. However, if you’re new to crypto or your location is restricted, Bybit might not be the best fit. It’s always wise to explore other viable options before diving in.
How to sign up on Bybit
As we conclude this Bybit review, we present you with a step-by-step guide to join the platform.
Choose your platform
Bybit allows registration through their website or mobile app.
Website: Head over to the Bybit homepage.
Mobile app: Download the Bybit app from the Apple App Store or Google Play Store.
Initiate account creation
Website: Click on the “Sign Up” button at the homepage’s top right corner.
Mobile App: Launch the Bybit app and tap on the “Sign Up” button on the bottom right corner.
Select your registration method:
Bybit offers two signup methods:
Email: Enter your valid email address and a strong password.
Mobile Number: Enter your mobile number with the country code and a strong password.
Additional information (Optional):
Referral code: You can enter a referral code if you have one (this step is optional). Terms and conditions: By clicking “Create Account,” you agree to Bybit’s Terms of Service and Privacy Policy. Make sure to read and understand them before proceeding.
KYC verification
To fit this Bybit review, it’s essential to mention that the exchange requires KYC (Know Your Customer) verification to comply with regulations and to enable full account functionality, including withdrawals.
Here’s what you’ll need for KYC verification:
A valid government-issued ID: It can be your passport, national identity card, or driver’s license.
A clear selfie: Ensure your face is well-lit and centered in the frame.
Verification process
Once you submit your information, Bybit will guide you through the verification process. This typically involves uploading clear photos of your ID and selfie. Processing times may vary, but Bybit aims for swift completion.
Account created
After successful verification, your Bybit account will be active, allowing you to deposit funds and start trading cryptocurrencies.
By following these steps in this Bybit review, you’ll be well on your way to exploring the Bybit platform and its crypto offerings. KYC verification is crucial for full account functionality, so ensure you have the necessary documents prepared.
Methodology: How we scored Bybit
This Bybit review evaluated the platform across the following criteria, which considered both objective data and the subjective experience of our expert reviewers.
- Supported cryptocurrencies: A variety of digital assets available for trading on the platform.
- Payment methods: Options for depositing and withdrawing funds, including fiat currency support.
- Fees: Trading fees, withdrawal fees, and any other applicable charges.
- Ease of use: User-friendliness of the platform’s interface and trading tools.
- Features: Functionality offered by the platform, such as spot trading, margin trading, staking, etc.
- Customer service: Quality and responsiveness of Bybit’s support team.
- Reputation and security: Trustworthiness and security measures implemented by the platform.
Bybit review: FAQs
Is Bybit available in the US?
Bybit vs Coinbase: Which is better?
Which platform is better: Bybit or Kraken?
What are some interesting Bybit facts?
References
- North Korea behind $1.5bn hack of crypto exchange ByBit, says FBI | The Guardian
- Bybit partners with UNICEF to empower girls’ education in East Asia and the Pacific | UNICEF
- Product Update: Enhanced Trading Tool for Greater Flexibility and Precision | Bybit announcements
- Bybit secured UAE in-principle approval days before $1.4B hack | CoinTelegraph
- Bybit Becomes First Crypto Exchange to Offer Gold, FX Copy Trading | Blockhead
