At A Glance
Who Is Bybit Best For?
Best for:
Advanced derivatives traders seeking high leverage options, cryptocurrency enthusiasts wanting access to 1300+ digital assets, and European traders benefiting from MiCA regulatory protection.
Skip if:
You're a beginner looking for simple spot trading, based in restricted countries (US, China, Singapore), or prefer exchanges with longer track records of security incidents.
Our Take
Bybit has established itself as the world’s second-largest cryptocurrency exchange by trading volume, serving over 70 million users globally. The platform excels in derivatives trading with competitive fees and advanced tools, though recent security challenges raise concerns. The 2025 MiCA license significantly enhances its European credibility.
Skrumble Scoring Breakdown
While Bybit offers excellent derivatives trading capabilities and competitive fees, the recent $1.5 billion security breach impacts our trust score despite their 1:1 reserve model and regulatory progress.
See our full crypto exchange scoring methodology here.
Company Overview: Bybit Exchange Profile
Founded in 2018 by Ben Zhou, a former forex broker, Bybit has rapidly ascended to become the world’s second-largest cryptocurrency exchange by trading volume. The platform processes between $2-7 billion in daily transactions, demonstrating substantial market liquidity and trader confidence.
Initially launched from Singapore, Bybit relocated its headquarters to Dubai, UAE in 2022, positioning itself strategically within a progressive financial regulatory environment. The exchange is registered as Bybit Fintech Limited in the British Virgin Islands, with operational entities across multiple jurisdictions including recent expansion into Europe following MiCA licensing.
Recent developments have been mixed for the platform. While 2024 saw explosive user growth from 32 million to over 70 million users, February 2025 brought challenges with a significant security breach resulting in approximately $1.5 billion in stolen assets. Despite this setback, the exchange demonstrated resilience with rapid recovery measures and continued regulatory expansion.
The platform’s business model focuses heavily on derivatives trading, distinguishing it from spot-trading-centric competitors like Coinbase. This specialization has attracted sophisticated traders seeking advanced features like perpetual contracts, futures trading, and options trading with leverage up to 100x.
Fee Structure Analysis
Bybit employs a competitive maker-taker fee structure that varies significantly between trading products. The exchange offers substantial fee reductions through its VIP program, with rates decreasing as trading volume and asset holdings increase.
Spot Trading Fees
For standard users, Bybit charges 0.10% for both maker and taker orders on spot trading. This rate is competitive with major exchanges like Binance and places Bybit favorably against industry averages.
VIP Fee Benefits:
- VIP 1: 0.04% maker, 0.06% taker
- VIP 2: 0.02% maker, 0.05% taker
- VIP 3: 0.01% maker, 0.04% taker
- Pro 3: 0% maker fees, 0.02% taker fees
Derivatives Trading Fees
Bybit’s derivatives trading represents a significant competitive advantage with maker fees starting at 0.02% and taker fees at 0.055% for USDT perpetual contracts.
Derivatives Fee Structure:
- USDT Perpetual: 0.02% maker / 0.055% taker
- USDC Perpetual: 0.02% maker / 0.055% taker
- Options Trading: 0.03% maker / 0.03% taker
- Inverse Contracts: 0.01% maker / 0.06% taker
Deposit and Withdrawal Fees
All cryptocurrency deposits and internal transfers between Bybit accounts are free of charge. Is not the same for withdrawals. Some Withdrawal Fee Examples:
- Bitcoin (BTC): 0.0005 BTC
- Ethereum (ETH): 0.005 ETH
- USDT (TRC-20): $1
- USDT (ERC-20): $10
Fiat deposits and withdrawals incur variable fees depending on the payment method, with bank transfers typically offering the lowest cost option.
Cryptocurrency Availability on Bybit
Bybit supports over 1,300 cryptocurrencies across various blockchain networks, offering traders extensive diversification opportunities. The platform regularly adds new tokens, with recent quarters showing consistent expansion of available assets.
Major Cryptocurrencies
Top Supported Assets:
- Bitcoin (BTC) – Highest liquidity pairs
- Ethereum (ETH) – Multiple trading options
- Litecoin (LTC) – Classic altcoin support
- XRP – Cross-border payment focus
- Cardano (ADA) – Proof-of-stake leader
- Solana (SOL) – High-performance blockchain
Altcoins and DeFi Tokens
Beyond major cryptocurrencies, Bybit lists numerous altcoins, DeFi tokens, and emerging projects.
Popular Categories Include:
- Layer 1 Protocols: Solana (SOL), Cardano (ADA), Polkadot (DOT)
- DeFi Tokens: Uniswap (UNI), Chainlink (LINK), Aave (AAVE)
- Gaming Tokens: Axie Infinity (AXS), The Sandbox (SAND)
- Meme Coins: Dogecoin (DOGE), Shiba Inu (SHIB)
Trading Pairs
The platform offers over 1,200 spot trading pairs and extensive derivatives options.
Top Trading Pairs by Volume:
- BTC/USDT: ~18.84% of total volume
- ETH/USDT: ~14.91% of total volume
- SOL/USDT: ~7.65% of total volume
- XRP/USDT: ~3.84% of total volume
New Listings Process
Bybit regularly evaluates new cryptocurrency projects for listing, with recent additions focusing on innovative blockchain projects and popular community tokens. The exchange has established processes for token listing applications and maintains quality standards for new additions. Users can also request new token listings through the platform’s official channels.
Platform Performance and Trading Experience
Bybit’s trading platform delivers institutional-grade performance with advanced charting tools powered by TradingView integration. The platform maintains high uptime percentages and handles significant trading volume spikes during market volatility periods.
Desktop Platform
The web-based trading interface offers comprehensive functionality with customizable layouts, multiple workspace configurations, and advanced order types. Professional traders appreciate features like grid trading bots, copy trading capabilities, and sophisticated portfolio management tools.
The platform provides real-time market data, advanced technical analysis tools, and seamless order execution. Professional users benefit from API access supporting automated trading strategies and institutional-grade connectivity.
Mobile Application
Bybit’s mobile application replicates desktop functionality while optimizing for mobile trading. The app supports all major trading features including spot trading, derivatives trading, and portfolio management from mobile devices.
Mobile-specific features include biometric authentication, push notifications for price alerts and order fills, and QR code scanning for wallet addresses. The application maintains feature parity between iOS and Android versions.
Order Execution and Liquidity
The exchange demonstrates strong liquidity across major trading pairs with competitive spreads. Order execution typically occurs within milliseconds for market orders, while limit orders benefit from the platform’s sophisticated matching engine.
During high volatility periods, the platform generally maintains stable performance, though extreme market conditions can occasionally impact execution speeds consistent with industry patterns.
Security Analysis
Bybit implements multiple security layers including cold storage for user funds, multi-signature technology, and comprehensive monitoring systems. However, the February 2025 security breach significantly impacts the security assessment.
Security Infrastructure
The exchange segregates user funds into cold and hot wallets, with the majority stored offline in cold storage. Multi-party computation (MPC) technology provides additional security layers for wallet management and transaction processing.
The platform maintains a 1:1 reserve model with monthly proof-of-reserve audits demonstrating full backing of user deposits. As of recent audits, Bybit maintains reserve ratios exceeding 100% across 40+ different assets. Learn more about cryptocurrency security best practices at CoinGecko’s Security Guide.
Security Features
User accounts benefit from two-factor authentication (2FA) options including Google Authenticator, YubiKey hardware keys, and biometric authentication through fingerprint scanning or Face ID. The platform also implements withdrawal whitelisting and email confirmations for account changes.
Real-time monitoring systems analyze user behavior patterns to detect suspicious activities, with strengthened authentication measures triggered when anomalies are identified.
2025 Security Incident
In February 2025, Bybit experienced a significant security breach resulting in approximately $1.5 billion in stolen cryptocurrency, primarily Ethereum. The incident affected cold wallet storage, typically considered the most secure form of cryptocurrency storage.
The exchange responded with emergency measures including enhanced security protocols, user communications, and recovery efforts. Approximately 14.5% of stolen funds were recovered within days, though the incident raised concerns about security practices and fund safety.
Advanced Features Overview
Copy Trading
Bybit’s copy trading platform connects users with over 800,000 master traders, allowing novice traders to mirror experienced professionals’ strategies. The Smart Copy Mode includes risk management features and performance tracking tools.
The CopyGuard system provides additional protection by optimizing entry prices and preventing execution of potentially harmful trades. Copy trading supports both spot and derivatives markets with flexible investment amounts starting from 50 USDT.
Grid Trading Bots
Automated grid trading bots enable systematic profit-taking during sideways market movements. Users can configure custom price ranges, grid numbers, and investment amounts, with the system automatically placing buy and sell orders at predetermined intervals.
Both manual configuration and AI-assisted setup options provide flexibility for different user skill levels. The grid trading system supports spot, futures, and derivatives trading with real-time performance monitoring.
Staking and Earning
Bybit Earn offers multiple passive income opportunities through staking, liquidity mining, and dual asset products. Staking rewards reach up to 14% APY on supported cryptocurrencies, while dual asset programs can achieve yields up to 500% APY under optimal conditions.
Flexible and fixed-term staking options provide users with choices between liquidity access and higher yields. The platform regularly updates supported assets and reward rates based on market conditions.
NFT Marketplace
The integrated NFT marketplace supports buying, selling, and trading non-fungible tokens across multiple categories including digital art, collectibles, gaming assets, and metaverse items. The platform accepts multiple cryptocurrencies for NFT transactions.
Featured collections include partnerships with established artists and gaming projects, with regular promotional events and trading competitions to encourage user participation.
Geographic Restrictions and Regulatory Status
Bybit operates in over 160 countries but maintains restrictions in several key markets due to regulatory requirements and compliance considerations.
Current Regulatory Landscape
The exchange has achieved significant regulatory progress with multiple licenses and approvals:
Active Licenses and Approvals:
- MiCA License (EU): Austria FMA approval for 29 EEA countries
- UAE VARA: Provisional license moving toward full authorization
- Cyprus CySEC: Registration for European operations
- Kazakhstan: Full cryptocurrency exchange license
- Georgia: Virtual Asset Service Provider (VASP) registration
Restricted Regions
Major Market Restrictions:
- United States: Complete restriction due to regulatory framework
- China: Mainland China ban on cryptocurrency trading
- Hong Kong: Suspended operations pending regulatory clarity
- Singapore: Restricted due to licensing requirements
- Canada: Exited market following regulatory changes
- United Kingdom: No current authorization
- France: Services suspended despite AMF blacklist removal
Additional Restricted Territories:
- North Korea, Cuba, Iran, Uzbekistan
- Russian-controlled regions of Ukraine (Crimea, Donetsk, Luhansk)
Compliance Developments
Recent regulatory developments demonstrate Bybit’s commitment to global compliance:
2025 Progress:
- MiCA License Achievement: First major exchange with EU-wide authorization
- Vienna Headquarters: Established European operations base
- India FIU Registration: Compliance with local regulations
- Ongoing Applications: Hong Kong trading license reapplication
The restrictions reflect varying regulatory approaches globally, with some countries implementing comprehensive frameworks while others maintain restrictive policies toward cryptocurrency exchanges. For the latest regulatory updates, check the Bybit regulation page.
Setting the Record Straight
We found widespread misinformation about Bybit across various forums and social media platforms. Here’s the truth based on our research and verification:
Myth:
"Bybit uses fake volume and wash trading to inflate numbers" - Multiple Reddit threads in r/CryptoCurrency.
Reality:
CoinMarketCap and blockchain analytics firms consistently rank Bybit as the second-largest exchange by legitimate trading volume. Daily volumes of $2-7 billion are verified through on-chain analysis. While some smaller pairs may have inflated metrics, major trading pairs demonstrate genuine liquidity.
Myth:
"Bybit isn't properly regulated and operates illegally in most countries" - Telegram crypto community discussions.
Reality:
Bybit holds multiple regulatory licenses including 2025 MiCA license from Austria, provisional UAE VARA approval, and Cyprus CySEC registration. The exchange operates legally in most of its 160+ supported countries with active compliance programs.
Myth:
"Bybit's insurance fund is fake and can't cover user losses" - r/Bitcoin discussion thread.
Reality:
The exchange publishes monthly proof-of-reserve audits showing reserve ratios above 100% for all major assets. The 1:1 reserve model means user funds are fully backed by actual cryptocurrency holdings verified by third-party auditors.
We’re not here to defend Bybit blindly – they have real weaknesses including the recent security incident and geographic restrictions. But false information helps nobody make informed decisions about exchange selection.
Skrumble Community Ratings
We’re building our Bybit review section! Share your experience to help others, particularly regarding:
- Your experience with derivatives vs spot trading
- How fees compare to other major exchanges
- Withdrawal processing times and any issues encountered
- Support quality across different languages and regions
Customer Support Evaluation
Bybit provides multilingual customer support through multiple channels including live chat, email, and comprehensive help center resources. Support quality varies by region and language, with English and Chinese support typically offering faster response times.
Bybit provides multilingual customer support through multiple channels with varying response times by region and language.
Available Support Options:
- Live Chat: 24/7 availability with 3-8 minute response times for English
- Email Support: support@bybit.com with 24-48 hour response times
- Help Center: Comprehensive self-service knowledge base
- Video Tutorials: Step-by-step platform guidance
- Community Forums: User-driven support discussions
Language Support:
- Primary Languages: English, Chinese (Mandarin, Cantonese)
- Additional Languages: Spanish, Vietnamese, Turkish, Russian, Korean
- Regional Variations: Localized support for European markets
VIP Support Benefits:
- Dedicated Account Managers: For high-tier VIP users
- Priority Response: Faster resolution times
- Direct Phone Support: Available for qualified accounts
- Escalation Privileges: Direct access to senior support staff
Issue Resolution
Common issues including account verification, trading problems, and withdrawal questions generally receive prompt resolution. More complex technical issues or security-related concerns may require escalation and longer resolution timeframes.
Educational Resources and Learning
Bybit Learn provides comprehensive educational content covering cryptocurrency fundamentals, trading strategies, and platform-specific features. The educational program caters to both beginners and advanced traders with structured learning paths.
The platform hosts regular trading competitions, educational webinars, and community events to engage users and provide learning opportunities. The World Series of Trading attracted over 350,000 participants in 2025, demonstrating strong community engagement.
Exchange Comparison
Exchange | Founded | Users | Regulation | Assets | Max Leverage | Spot Fees | Best For |
Bybit | 2018 | 70M+ | MiCA (EU), UAE provisional | 1300+ | 100x | 0.10% | Derivatives trading |
Binance | 2017 | 150M+ | Multiple jurisdictions | 350+ | 125x | 0.10% | Global spot trading |
Coinbase | 2012 | 100M+ | US, EU regulated | 250+ | N/A | 0.50%+ | Regulatory compliance |
Kraken | 2011 | 13M+ | US, EU regulated | 200+ | 50x | 0.16%-0.26% | Security focus |
OKX | 2017 | 50M+ | Multiple jurisdictions | 400+ | 100x | 0.08%-0.10% | Derivatives variety |
Final Verdict
Bybit stands out as a derivatives-focused exchange offering competitive fees, extensive cryptocurrency selection, and advanced trading tools. The platform’s rapid growth to 70+ million users and second-largest trading volume globally demonstrates strong market acceptance.
Strengths include exceptional derivatives trading capabilities, competitive fee structures, and recent regulatory progress through MiCA licensing. However, significant concerns exist regarding security following the February 2025 breach and geographic restrictions limiting access in major markets.
For advanced traders seeking sophisticated derivatives products and high liquidity, Bybit remains compelling despite recent challenges. European users particularly benefit from MiCA regulatory protection. Consider alternatives if you’re based in restricted regions, prefer simple spot trading, or prioritize exchanges with longer security track records.
FAQs
Risk Warning:
Trading Forex, CFDs, and cryptocurrencies carries a high level of risk and may not be suitable for all investors. These markets are volatile and can result in the loss of your invested capital. Make sure you fully understand the risks before trading.
Compare Bybit with Other Crypto Exchanges
See how Bybit stacks up against other crypto exchanges in our detailed comparison tool.
Compare Now →PROS
- Competitive derivatives trading fees
- High leverage up to 100x for experienced traders
- Extensive cryptocurrency selection with 1300+ assets
- MiCA license providing EU regulatory compliance
- No-KYC crypto withdrawals up to 20,000 USDT daily
- Advanced trading tools and copy trading features
CONS
- Recent $1.5 billion security breach raises concerns
- Not available in major markets including US and China
- Complex interface overwhelming for cryptocurrency beginners
- Variable customer support response times
- Limited spot trading focus compared to derivatives
- Higher withdrawal fees for smaller altcoins
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Basic Information
Name:
Bybit
Website:
Type of Exchange:
CEX
Headquarter:
Year Founded:
2018
Is Regulated:
Yes
KYC Required:
Yes (to unlock certain features)
Ratings
Security and Trust:
/5
Fees:
/5
Asset Variety:
/5
Ease of Use and Features:
/5
Customer Support:
/5
Features
Mobile App:
Yes
Trading Information
Supported Fiat Currencies:
USD
EUR
GBP
JPY
CAD
AUD
65+
Supported Crypto Assets:
1300+
Leverage Up To:
100x
Derivatives Available:
Yes
Native Token:
MNT
Mobile App:
Yes
Affiliate Program:
Yes
Bonus:
Up to $5,050
