Bybit Crypto Trading Platform
- Margin trading with up to 100x leverage
- Multi-currency support
- Low fees
In this hands-on Bybit review, you’ll learn everything you need to know about this global exchange’s services, trading products, ease of use, and strengths and weaknesses.
Bybit is the world’s second-largest crypto exchange, boasting more than 70 million customers across more than 195 countries. It’s popular for offering trading on a very wide range of digital assets with low fees, and offers advanced trading tools like bots and technical charts.
However, Bybit doesn’t operate in the US or UK, and the exchange has occasionally faced trouble with regulators over its compliance practices. It has also received mixed reviews from some long-time users.
So, is Bybit the right crypto exchange for you? Our in-depth Bybit review will help you make an informed decision!
Bybit Exchange Review: Our Verdict
Our Bybit exchange review found that this is a versatile and trustworthy exchange for a wide range of crypto traders. It’s especially good for experienced spot crypto traders who want access to 650+ cryptocurrency pairs or margin up to 10x. Crypto derivatives traders will also love Bybit thanks to its support for 550+ USDT- and USDC-denominated perpetual contracts and leverage up to 125x.
Bybit has a variety of powerful trading tools, including copy trading, trading bots, and multiple crypto yield opportunities. It’s well-regulated, including in the EU, and has very strong measures in place to protect users’ funds, and a recent hack didn’t impact customers’ asset balance. Bybit has competitive trading fees, although not the lowest in the industry for most trading products.
In addition, the exchange has many ways to earn yield on the crypto you own, including staking, savings accounts, liquidity mining, and dual investment strategies. 24/7 high-quality customer service is also a highlight of using Bybit.
The biggest drawback to Bybit is simply that it’s not available in all countries. Crypto traders in the US, UK, Canada, and China cannot access Bybit. However, for any traders outside of these countries, Bybit is strongly worth considering.
Another potential issue is that Bybit is an advanced exchange, so new crypto users may find that Bybit has a steep learning curve. Finally, Bybit lacks an NFT marketplace, so it’s not the best option for users who want to manage cryptocurrencies and NFTs in a single place.
Pros
- 650+ spot cryptocurrencies and 550+ crypto futures contracts
- Leverage up to 125x for futures and 10x for margin trading
- Strong regulatory framework, holds EU MiCA license
- Multiple yield-generating products, such as staking and liquidity mining
- Responsive 24/7 customer support
Cons
- Not available in the US, UK, Canada, or China
- Doesn’t have an NFT marketplace
- New crypto traders may find a steep learning curve
- Suffered a major hack in 2025 (no customer funds were lost)
What is Bybit?
Bybit is a major centralized crypto exchange founded in Singapore in 2018 by Ben Zhou. The company has grown rapidly in recent years to become the world’s second-largest exchange, behind only Binance, and relocated its headquarters to Dubai in 2023.
Bybit now boasts more than 70 million customers around the world. It operates in 195 countries, although that list notably does not include the US, UK, Canada, or China. Bybit recently received a Markets in Crypto-Assets Regulation (MiCA) license in the EU, enabling it to operate in a compliant manner throughout the bloc. It is also licensed in the United Arab Emirates and Cyprus, two relatively crypto-friendly countries.
Bybit offers trading on more than 650 spot cryptocurrencies as well as USDT and USDC perpetual futures and USDT options. It also operates a peer-to-peer exchange for fiat-crypto and crypto-crypto transactions and supports a one-click fiat-to-crypto onramp. The exchange has numerous tools for traders and investors such as copy trading, trading bots, TradingView charts, token staking, and more.
Bybit previously offered NFT trading, but shut down its NFT marketplace in April 2025 due to declining trading volume and a change in market trends.
Is Bybit Secure?
Bybit is available in more than 195 countries and is licensed in several jurisdictions, including the UAE, Cyprus, and the EU.
The most noteworthy of Bybit’s licenses is its MiCA license in the EU, which requires the exchange to follow strict rules around how it handles users’ funds and backs digital assets held by customers with traditional assets. The MiCA license also requires Bybit to adhere to cybersecurity standards, including offering multi-signature wallets and cold storage. The exchange also must follow Know Your Customer (KYC) requirements and undergo frequent third-party audits to ensure compliance.
Importantly, prior to achieving its MiCA license in early 2025, Bybit briefly paused its support for EU customers. During that time, EU users could continue to use Bybit, but the exchange suspended all communication with EU customers, which could be very alarming for some users. The period between suspending communication and receiving a MiCA license lasted about four months.
In addition to the security measures required under MiCA, Bybit also has several additional security features. It uses two-factor authentication (2FA) during login and offers anti-phishing codes in emails to customers to verify that they came from Bybit. The exchange also has an insurance fund to cover losses related to cybertheft and real-time monitoring systems to identify and proactively eliminate threats.
Bybit Hack
Despite these relatively robust security measures, Bybit fell victim to a major hack in early 2025. The company lost a reported $1.5 billion to the North Korean hacking group Lazarus after hackers attacked the cold storage wallet that Bybit uses to store crypto on its platform.
Bybit’s response to the hack was fast and relatively transparent, with the exchange working quickly to assure customers that their assets were safe and that there was plenty of liquidity to support all withdrawals. The exchange is now working to recover the stolen funds, around 90% of which are still traceable on blockchains.
Bybit Review: Supported Coins and Trading Pairs
Bybit supports spot crypto trading on more than 650 cryptocurrencies across dozens of chains, making it one of the best altcoin exchanges in 2025. You can trade tokens on all major Layer-1 networks, including Bitcoin, Ethereum, Cardano, Ripple, Solana, Dogecoin, Sui, Avalanche, and more.
The exchange helps you discover new tokens with categories for DeFi, GameFi, AI, DePIN, meme coins, and more. It also has a launchpool and launchpad to support trading in emerging tokens.
Trading pairs are available in several popular stablecoins, including USDT, USDC, USDE, and DAI. You can also trade a variety of tokens against BTC, ETH, and SOL.
Bybit Trading Products and Services
Bybit offers a wide range of trading products, making it a potentially good choice for crypto investing, direct token trading, and crypto derivatives trading.
Spot and Margin Trading
Bybit supports spot and margin trading on more than 650 cryptocurrency pairs. Margin up to 10x is available for most USDT-denominated pairs.
Bybit Futures Trading
Bybit is one of the top crypto futures trading platforms, with perpetual futures contracts denominated in USDT and USDC. There are more than 520 USDT contracts available and more than 35 USDC contracts. Both can be traded with leverage up to 125x for popular pairs. Bybit also offers inverse futures contracts that enable you to bet against specific cryptocurrencies.
Bybit Options
Options trading is available for BTC, ETH, and SOL. All options are denominated in USDT.
P2P Trading
Bybit has a peer-to-peer (P2P) exchange platform that supports more than 60 fiat currencies and more than 300 cryptocurrencies. You can use it to onramp from fiat to crypto, swap cryptocurrencies, or offramp from crypto back to fiat. All P2P transactions require KYC checks, although there are no fees on transactions. Most major banks and e-wallets are supported for fiat payments.
Bybit Copy Trading
Bybit supports copy trading and has more than 13,000 traders available to copy. It keeps detailed statistics on each trader’s performance, including their followers’ average profit and loss and their return on investment, win rate, and number of followers. You can easily find traders based on their performance across these categories over multiple timeframes.
Each master trader sets their own profit sharing ratio for followers, but expect 5%-20% for most traders. Bybit charges regular trading fees for copy trading, but there are no additional fees.
It’s also worth noting that Bybit has several crypto trading bots available to use, which are separate from the copy trading feature. We didn’t go into a full Bybit trading bot review in our exploration of the exchange, but the bots appear to be quite successful based on their reported backtested performance.
Bybit Earn
Bybit Earn offers several ways to earn yield on the cryptocurrency you hold on the platform. We’ll break down the available options.
Staking
Bybit’s crypto staking program is called On-Chain Earn, and it’s available for 12 tokens, including BTC, ETH, USDT, USDC, ADA, SOL, SUI, and TON. All tokens except BTC have flexible staking periods. For BTC, staked tokens are locked for 45 days. Bybit occasionally partners with Layer-2 networks or other dApps to offer bonus APY on specific tokens like ETH.
Savings
Bybit also offers a flexible-term and fixed-term crypto savings program. This works similarly to staking, but tokens are available to be loaned out to other exchange users, resulting in slightly higher risk and, accordingly, higher APYs.
Bybit Savings is available for more than 200 cryptocurrencies. Fixed terms vary from 3 days to 180 days. Many popular tokens offer both flexible and fixed savings options.
Liquidity Mining
Bybit also enables users to earn yield through liquidity mining, which involves providing tokens as liquidity to trading pools for automated market making. All trading pairs are denominated in USDT and USDC, and there are more than 30 available pairs.
Bybit also enables you to apply leverage to tokens when using liquidity mining. This can increase your yield, but it also increases your risk of loss.
Dual Asset
Bybit’s Dual Asset program enables you to earn yield based on expected price targets for popular tokens like BTC, ETH, and ADA. You can choose a buy low or sell high strategy and select a target price and date for your strategy. All Dual Asset trading pairs are denominated in USDT and USDC.
Bybit Fees
Bybit charges competitive fees that help it stand out compared to alternative centralized exchanges. Here’s a breakdown of the fees across the platform.
Trading Commissions
Bybit charges the following trading fees:
- Spot trading: 0.1000% maker / 0.1000% taker
- Futures trading: 0.0200% maker / 0.0550% taker
- Options trading: 0.0200% maker / 0.0300% taker
- One-click buy: 0.9% (varies by fiat currency)
- P2P trading: No fees
- Copy trading: No commission, profit sharing set by the master trader
Notably, Bybit offers discounts on spot, futures, and options trading fees for VIPs. Your VIP level and associated fees are based on your monthly transaction volume at the exchange. Reaching the first VIP level requires at least $1 million in monthly spot trading volume or $100,000 in assets held in your account.
Deposits and Withdrawals
Bybit does not charge any deposit fees.
Withdrawal fees vary according to the cryptocurrency or fiat currency you withdraw. The fee is 0.0005 BTC for Bitcoin withdrawals and 0.005 ETH for Ethereum withdrawals. You’ll also be responsible for paying any blockchain fees when withdrawing crypto.
Funding Rates
Bybit’s funding rates are highly variable based on the product you’re trading and current liquidity conditions on the exchange. The good news is that Bybit is very transparent about its funding rates and offers a table showing average, low, and high rates for all products.
You can also view historical rates for BTC/USDT perpetual futures contracts. That contract has a typical funding rate between 0.0034% and 0.01%.
Bybit Payment Methods
Bybit supports crypto deposits in nearly all 650+ tokens supported for spot trading on the exchange. There are no fees for crypto deposits.
Bybit also supports crypto purchases with more than 25 fiat currencies, including USD and EUR. You can pay with a credit or debit card using Bybit’s one-click buy portal, or use third-party crypto onramp providers that support popular e-wallets and direct connections to major banks.
Bybit Wallet
Bybit Wallet is a custodial wallet available to anyone, although it works best when connected to a Bybit exchange account so you can use the exchange to swap tokens and move your funds around. It’s currently available for iOS and Android and as a browser extension for Google Chrome.
Bybit Wallet is extremely user-friendly and supports exploration of Web3 through crypto staking, a large dApp library, and a decentralized token swap. However, it’s important to note that the wallet requires KYC verification, which makes the sign-up process a bit more onerous than for most software wallets.
Bybit Wallet uses multi-signature technology and 2FA for security, but relies on a seed phrase instead of using a phraseless security mechanism. Keep in mind that this is also a hot wallet and is custodial, so assets held in the wallet could be controlled by Bybit.
Is Bybit User-Friendly?
Bybit offers a web platform and mobile apps for iOS and Android. The web platform is straightforward to navigate, with discrete tabs for products like Bybit’s fiat-to-crypto onramp, trading tools such as copy trading, earn products, and the trading platform. However, the sheer number of tools and features available at Bybit can make the platform moderately challenging to navigate.
The trading platform itself opens in a new window from the Bybit website. It can be used to trade both spot cryptocurrencies and derivatives, and looks very similar to the platforms provided by other major crypto exchanges like Binance and Coinbase. Technical charts from TradingView are included, and you have full access to the exchange’s order book and recent trades for every trading pair.
The trading panel offers market and limit orders with options to add stop loss and take profit levels to any trade. Advanced traders also have the option to place conditional orders and one-cancels-the-other orders.
One thing that’s especially nice about Bybit’s trading platform is that it includes some basic research about each trading pair. For example, you can view crypto news and sentiment analysis based on X commentary. You can also see inflows and outflows categorized by trade size for each trading pair.
The Bybit mobile app is highly responsive and straightforward to navigate. It offers access to most of the same features available on the web, but puts the most frequently-used tools into tabs so they’re easy to find. Most importantly, you can use the mobile app to conduct technical analysis, place and manage orders on the go, and monitor your entire crypto portfolio, including any yield-earning assets.
Overall, our Bybit app review found that this exchange is straightforward to use, but the platform is sprawling and has a lot of options for trading and deploying your digital assets. Most experienced traders will feel at home immediately, but new crypto users could feel overwhelmed by the number of different trading products and tools. This is an advanced exchange, and the user experience reflects that.
Where is Bybit Available?
Bybit is available in 195 countries around the world, including throughout the EU. However, it’s not available in several major countries, including the US, UK, Canada, and China.
Bybit Customer Support
Bybit offers 24/7 customer support via live chat and email. Most Bybit reviews reported that the support is responsive, and that was our experience as well. However, some reviews said that support can get congested at times, leading to delays in connecting with a representative.
Bybit also has a very extensive online knowledge base for self-service support. You can find detailed tutorials explaining how to verify your Bybit account, how to buy and sell crypto, how to secure your account, and much more. This knowledge base is extremely thorough, which is really nice if you’re new to Bybit and need to learn your way around the platform.
How to Get Started With Bybit
Here’s how to get started with Bybit in a few easy steps.
Step 1: Sign Up
Head to Bybit’s website and click Sign Up. Enter your email and a password, then click Create Account.
Bybit will send a verification code to your email. Enter this code to complete the sign-up process.
Step 2: Complete KYC
Bybit requires all customers to complete KYC checks before trading on the platform. Navigate to your account dashboard and then click the Verify Now button. Select your country and click Verify next to Proof of Identity. Choose a document type, such as a passport or driver’s license, and upload photos of your document.
Then click Verify next to Identity Assessment and take a selfie using your computer’s camera. Then click Verify next to Proof of Address and upload an accepted document such as a utility bill or bank statement from the last three months.
Step 3: Deposit or Buy Crypto
Next, you can fund your Bybit account by depositing crypto you already own or using Bybit’s fiat-to-crypto onramp.
To deposit crypto you already own, click Deposit in your account dashboard and choose the token you want to deposit. Then use your crypto wallet to send tokens to the address provided.
To purchase crypto, click Buy Crypto, then One-Click Buy. Enter the fiat cryptocurrency you want to use for your purchase and the cryptocurrency you want to buy. Then select a payment method and enter your payment details to complete the transaction.
Step 4: Trade
Now you’re ready to begin trading on Bybit. Open the trading platform and select a spot trading pair or crypto derivatives product to begin trading.
Bybit Review Conclusion: Who is Bybit Best For?
Our Bybit review for 2025 found that this is a trustworthy crypto exchange with a huge variety of spot crypto trading pairs and crypto derivatives products. Bybit stands out as one of the top crypto exchanges for derivatives traders, thanks to its support for perpetual futures denominated in both USDT and USDC, as well as its relatively high leverage and low fees. Spot traders will find competitive fees and more than 650 trading pairs at Bybit, along with powerful tools like copy trading and trading bots.
While Bybit’s user experience is smooth and feels similar to other advanced exchanges, the platform may feel somewhat overwhelming for first-time crypto traders. It’s an advanced exchange with a lot of features, so there’s a learning curve involved for users who aren’t familiar with all of the different ways to trade and deploy digital assets.
The only other major downside to Bybit is that it’s not available in several major markets, including the US, UK, Canada, and China. However, in countries where Bybit is available—including throughout the EU—the exchange benefits from strong regulations and employs top-tier security measures. On the whole, this is a trustworthy exchange that can appeal to any crypto trader or investor who feels comfortable navigating the many available features.
Visit BybitOur Methodology: How We Tested and Reviewed Bybit
To review Bybit, we took a hands-on approach that involved signing up for the exchange and fully exploring its features. We tested out the user experience on web and mobile and walked through the steps to buy crypto and trade using the exchange. We also deeply explored some of Bybit’s key features, including copy trading and staking.
In addition, we tested out Bybit’s customer support by contacting the company through live chat. This allowed us to evaluate how responsive the support team is. We also looked through Bybit’s other support resources, including the online knowledge base, to see how helpful this content is for new users.
Finally, we considered other Bybit reviews from existing customers to learn about their experiences with the exchange. Reviews were generally positive, but this helped us find potential flaws to investigate more deeply in our own review.
FAQs
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References
- Bybit Surpasses 70 Million Users, Reinforces Commitment to Transparency and Institutional Growth (Bybit)
- Bybit to shut down NFT marketplace as trading volumes decline (Cointelegraph)
- Bybit Secures MiCA License in Austria, Launches European Headquarters in Vienna (Fintech Weekly)
- How the Biggest Crypto Heist in History Went Down (New York Times)
- Bybit’s $1.4 Billion Hack: The Race to Recover Stolen Crypto from Lazarus Group (Fintech Weekly)
