Bybit Review 2026: Fees, Features, Pros, Cons & More!

Bybit Overview

Bybit is a Dubai-based cryptocurrency derivatives exchange established in March 2018. Over the years, it has grown into one of the most recognized platforms worldwide, consistently ranking among the top three exchanges by trading volume. More than 30 million users rely on its services, drawn by a broad offering that extends beyond derivatives into areas like spot trading, ETH liquid staking through Mantle, integrated stock trading, and innovative account options.

In this Bybit review, we will explore the features that make the exchange stand out, while also addressing key questions around ownership, regulation, and security. By the end, you’ll have a clear understanding of whether Bybit is safe, legitimate, and worth considering as your trading platform of choice.
Bybit is a legit cryptocurrency exchange that was launched in 2018 by Ben Zhou, who is also the CEO as of 2025. With offices in the British Virgin Islands and Dubai, the Bybit team consists of 1100 employees, which manage over 30 million users. With a 24-hour futures volume of $5,209,786,633, the Bybit trading platform is in the top 3 cryptocurrency exchanges sorted by trading volume globally.

Bybit supports over 380+ crypto assets and over 517+ trading pairs, and Bybit operates in 100+ different countries. Though Bybit is regulated, the platform is restricted in some areas, such as the USA and Canada. If you are looking for a great crypto trading platform that supports US and Canadian customers, we highly recommend you check out top Bybit alternatives.

Bybit quickly became one of the largest crypto exchanges in the world due to its comprehensive derivatives trading feature, where you can access futures contracts with up to 100x leverage and low trading fees. Beyond derivatives, Bybit now also provides ETH liquid staking through Mantle Network, its own blockchain ecosystem, giving users the ability to stake Ethereum while still keeping their assets liquid for trading or DeFi use. The platform has expanded further with stock trading options, bridging traditional finance with digital assets, as well as on-chain trading features that let users interact directly with decentralized markets without leaving the Bybit ecosystem.

Aside from offering a web crypto trading platform, Bybit also has an iOS and Android mobile app with over 20 million downloads. Just log into your trading account and practice crypto trading on the go.

Bybit Pros & Cons

Pros & cons for Bybit have not been entered in the database yet.

Bybit Sign-up & KYC

Bybit operates according to AML laws and regulations. Therefore, Bybit requires all users to verify their identity. Mandatory KYC was introduced to Bybit on the 8th of May, 2023.

Registering on the Bybit platform is simple and only requires an email or phone number and a strong password. After that, you should bind security measures to your Bybit account, such as two-factor authentication, an anti-phishing code, and a fund password.

1. For the Level 1 KYC process, you must submit a government-issued document such as an ID or Passport and a selfie.
2. In order to lift your withdrawal limit and FIAT deposit limit, you must finish Level 2 KYC, which also requires proof of address. The accepted documents are utility bills, rental agreements, or bank statements no older than three months.

How to Complete KYC Verification on ByBit

Since ByBit requires KYC verification, you must perform it to operate freely on the platform. Verify yourself by following the steps mentioned below:

First, login to your account. Hover over your profile icon at the top right corner and click Account & Security.

Step 1: Scroll down to Identity Verification and click Verify Now.

Step 2: Click Verify Now under the Level 1 section. It will require your ID Card and live photos.

Step 3: Choose your country and verification card type, click Next, and get your webcam ready. You can also verify images from our mobile if you don’t have a webcam. Just toggle the button at the top to Verify Your Documents on your Mobile and scan the QR Code.

Step 4: On the next pop-up screen, either take the card’s images or manually upload the front and back sides.

Step 5: Next, capture the live selfie through your webcam/laptop camera. Your verification will start automatically once you complete the process. It will take no more than an hour.

Step 6: You can complete Level 2 verification for higher limits and get a ByBit Card. Click Verify Now in the Level 2 section of Identity Verification.

Step 7: Provide the pictures of your residential proof. These documents can be utility bills, bank statements, or government-issued residential proofs. Ensure the document is issued within the three months.

Step 8: After submission, the process will automatically get into verification. You will be notified once verified.

Bybit Supported Cryptocurrencies

Bybit lists 380 spot assets and 577 futures markets.

Bybit Trading Platform

One of the main features is the Bybit trading platform for perpetual and futures contracts. Bybit was one of the first exchanges to heavily shift towards becoming a derivative trading platform where traders can long and short perpetual contracts with 100x leverage.

Bybit offers spot and leveraged trading on its futures platform. Additionally, Bybit offers demo trading, options trading, trading bots, and copy trading.

Let’s dissect Bybit’s most important trading products after covering the interface.

Bybit Interface and User-Friendliness

In terms of interface, Bybit has a well-designed platform, and even beginners will have an easy time navigating through their Bybit account. The platform is responsive and works very smoothly during times of high volatility.

If you want to monitor numerous markets at once, you can switch to the “Multi-Chart Mode”, where you can look at 4 charts on one screen. Additionally, you can apply analysis tools to the chart, such as price moving averages.

Bybit Order Types

As Bybit is an advanced crypto derivatives exchange, order types such as Iceberg and TWAP, as well as conditional orders such as FOK, IOC, and GTC, are supported. Of course, Bybit also supports basic order types such as market and limit trigger price orders (Take profit / Stop loss) with partial order execution.

Bybit Spot Trading

On the spot market, Bybit offers 380+ different crypto assets, which are mostly settled in USDT. Bybit supports not only all major cryptos such as BTC, ETH, or XRP but also some controversial meme coins such as MiladyCoin or DogeCoin.

With spot trading fees at 0.1% for makers and 0.1% for takers, Bybit charges a relatively low rate.

The whole Bybit trading platform is well-designed and very stable. New users will have an easy time navigating through their Bybit account due to the user-friendly interface.

Bybit even offers margin trading on the spot market, where you can borrow money with a factor of up to 10x. However, if you are an active trader, we recommend using Bybit derivatives trading rather than margin trading.

Bybit Derivatives Trading (Perpetual Futures, Leverage)

The flagship product of Bybit is its efficient futures trading platform and derivatives market. With low commissions of 0.02% maker fee and 0.055% taker fee, daily futures trading volume of $5,209,786,633, and high liquidity, Bybit is one of the best exchanges when it comes to trading futures contracts.

Bybit supports over 577+ futures contracts and 400 different futures trading pairs, which are mostly settled in USDT. Bybit offers 100x leverage on major cryptos such as BTC and ETH. Cryptos that are not as popular support leveraged trading with 10x-75x, based on popularity and trading volume.

In the top right corner, you can switch from isolated to cross-margin mode. Bybit also supports hedging. That means you can simultaneously be long and short on the same futures contract. These are rather advanced options, and we only recommend using the feature if you are an advanced trader.

If you are new to trading, we highly recommend you stay away from using 100x leverage and practice on a crypto demo account first.

Read our full Bybit demo guide to get started.

Bybit Inverse Perpetual Contracts

Another special feature of Bybit is the inverse perpetual contract option where the underlying asset is not USDT but other cryptos such as BTC, ETH, SOL, etc. If you want to trade BTC/USD, you will use BTC as the underlying asset. If you want to trade ETH/USD, you must hold ETH as the underlying asset. In other words, your underlying asset must be the same as the corresponding trading pair.

This is an advanced feature for professional traders. As the liquidity is usually worse for inverse contracts, Bybit only supports 8 different trading pairs for inverse perpetual contracts.

Bybit On-Chain Trading

Bybit has recently expanded into on-chain trading, giving users the ability to access decentralized liquidity without leaving the exchange’s interface. Through its integrated platform, you can trade contracts directly on networks such as Solana, while still benefiting from Bybit’s user experience and account security.

With Bybit Web3, users can trade using their UTA (Unified Trading Account) balance seamlessly. This means no switching between wallets, no back-and-forth bridging, and no need to hold gas tokens, making DeFi trading more accessible and straightforward.

Stock & Traditional Market Trading

Under its TradeFi section, Bybit has introduced contracts for traditional markets, including US stock CFDs, indices, forex, and commodities. Traders can speculate on major names such as Apple and Microsoft, alongside indices like NAS100 and SP500, with leverage ranging from 3.33x to 5x. All positions are settled in USD using your crypto balance as margin, and fees are charged either through tight spreads or a small per-share commission for stock CFDs. This feature allows Bybit users to diversify into equities and global markets without leaving the platform, seamlessly switching between crypto and traditional finance.

Pre-Market Perpetuals

Bybit offers Pre-Market Perpetuals, an OTC service that lets traders speculate on upcoming tokens before they officially launch. This feature provides early access for price discovery, allowing users to place orders ahead of listings and secure positions without being exposed to initial volatility. It also enables traders to hedge spot positions or manage risks from pre-market spot trades using perpetual contracts. By gaining early entry and flexible hedging options, Pre-Market Perpetuals give traders a strategic advantage in preparing for new token markets.

Grid Bot Trading

Bybit grid bot trading is a fully automated trading system that allows users to take advantage of market volatility. This type of trading requires no manual intervention, and it can be used to purchase and sell crypto assets strategically on the spot market. It is also an effective way to reduce your risk exposure and manage your portfolio for maximum gains.

Bybit grid trading bots work by setting specific parameters in order to identify profitable entry points into the market. The bot will then automatically buy or sell digital assets when these conditions are met. This means that you don’t have to manually monitor the markets, as the bot will execute trades on your behalf according to pre-defined rules. You can also set up several trading bots to test which one performs best.

Options Trading

Aside from traditional spot and futures trading, Bybit even offers options trading for BTC, ETH, and SOL. The crypto options are settled in USDC, which is a stablecoin pegged to USD. The Bybit options trading platform is well-designed and user-friendly. Bybit is the second largest crypto options provider. Only Deribit has a larger market share for crypto options.

P2P Trading

If you are looking for a P2P trading platform, Bybit comes in handy. In fact, it offers the second-largest crypto P2P marketplace in the world, with support for over 100 currencies and 300 payment methods.

Users can trade four major cryptocurrencies; USDT, USDC, BTC, and ETH, directly with one another at 0% fees, making it one of the most cost-effective ways to buy and sell crypto on Bybit. With broad payment coverage and zero-cost crypto trading, the P2P platform provides flexibility for both new and experienced traders.

To get started, we recommend you check out our step-by-step Bybit P2P guide.

Maximum leverage is 100× (spot margin up to 10×).

Bybit Trading Fees

Overall, Bybit trading fees are low for crypto trading.

Spot Fees

On the spot market, the default trading fees start at 0.1% for both makers and takers. Maker refers to limit orders, and taker refers to market orders. If you are an active trader, you can lower your Bybit fees to 0.02% taker and 0% maker on the spot market based on your 30-day trading volume. Also, since September of 2022, Bybit introduced 0% fee trading until further notice for selected assets.

Futures Fees

On Bybit’s futures market, the trading fees are also some of the lowest in the industry. Starting with a 0.02% maker fee and 0.055% taker fee on futures contracts, Bybit beats most of the competition in terms of derivatives trading. Only a few other exchanges, like Binance, have lower fees.

Fee Discounts

Depending on your trading volume, active traders can reach a higher VIP and Pro rank, which will reduce your Bybit trading fees to as low as 0.01% maker and 0.01% taker fees. The trading fees can be discounted for spot and derivatives trading.

You can also check out Bybit’s official fee schedule here.

The median across the 64 centralized exchanges (CEX) we track, per fee type. Bybit is only ever compared with its own kind. "Average" means within half a basis point of that median.

Additional Features

Mobile App

The Bybit mobile app is like a comprehensive crypto exchange right in your pocket. The Bybit app is well-designed, very fast, and responsive. With over 20 million downloads and an average rating of 4.6/5 stars out of 160k Bybit reviews, the mobile app has great ratings.

On the mobile app, Bybit offers spot trading and futures trading, as well as staking and copy trading. Overall, the crypto exchange is easily accessible through the comprehensive Bybit app, making it a top crypto exchange for mobile users.

When comparing the Bybit mobile app to other exchanges, I noticed that it is actually one of the top performers. If you are looking for crypto trading platforms with a good mobile app, you should check out our guide of the best crypto exchange mobile apps. The Bybit platform is definitely a top contender.

Bybit Special Events and Bonuses

Bybit is doing an incredible job at attracting and keeping customers. That reflects well in the number of active users and new users that are signing up to Bybit. That is for a good reason. Bybit is regularly hosting events like competitions, fee discounts, and trading bonuses worth up to $30,000.

Read our full Bybit referral code bonus guide to secure the best rewards!

1. Trading Competitions (World Series of Trading)

Every year, Bybit is hosting the World Series of Trading (WSOT) with multi-million dollar prize pools and different types of trading competitions. You can compete as a team against other teams, and the top teams share massive prize pools by trading perpetual contracts. Spot trading and trading bots are not supported by the competition.

In 2022, the squad race (team competition) prize pool was $6,000,000.

In 2026, the prize pool rose to over $10,000,000.

It is safe to say that Bybit is the market leader when it comes to hosting exciting trading competitions with a serious chunk of money to be won in the prize pool. In terms of events, Bybit is superior to other exchanges.

2. Trading and Deposit Bonuses

For new traders who are invited through the Bybit affiliate program, the “deposit blast off” program is available. Based on your initial deposit and your trading volume, you can get trading bonuses worth up to $30,000. You can use this bonus in your futures account, trade with it and all the profits are yours. This offer is for people who are serious about trading, and to be eligible to receive bonuses, it requires a certain amount of $ deposited into your account and a certain amount of $ traded on the futures market.

The highest bonus Bybit ever offered was worth $30,000 in November 2022. And yes, the bonuses are real. However, you can not withdraw the bonuses. They are exclusively for trading in your futures account, but of course, all the profits will be yours, which you then can withdraw. Right now, new users can get up to $30,000 in welcome rewards.

Bybit Islamic Account

Bybit also offers a Shariah-compliant Islamic Account, designed for traders who follow Islamic finance principles. The account is free from interest (riba) and excessive uncertainty (gharar), aligning with Shariah guidelines that emphasize fairness and profit-and-loss sharing instead of interest-based lending.

To ensure compliance, Bybit worked with ZICO Shariah Advisory Services and formalized the account under a Wakalah Agreement. The platform also partnered with CryptoHalal to review tokens and exclude any projects tied to haram activities, such as DeFi protocols involving lending with interest.

Currently, the Islamic Account gives access to 76 carefully vetted cryptocurrencies, including major assets like Bitcoin, all screened to ensure Shariah compliance. This makes Bybit one of the very few global exchanges to provide a dedicated Islamic trading environment for Muslim users.

Demo Trading

Bybit’s Demo Trading uses a simulated Unified Trading Account for spot and derivatives. The documented initial assets are 50,000 USDT, 50,000 USDC, 1 BTC and 1 ETH. These cannot be withdrawn. Demo Trading is separate from Bybit Testnet; the demo account’s available instruments and controls determine what you can practice. Official demo details.

How to demo trade on Bybit

1. Log in and switch accounts. Open the profile menu and choose Demo Trading. Confirm that the Demo Trading label is visible.
2. Inspect the demo UTA. Open Assets > Unified Trading Account to view your simulated balances and available collateral settings.
3. Choose the market and order. Select a demo spot or derivatives pair. Set the order type and quantity; for derivatives, also review margin and leverage.
4. Submit the practice trade. Confirm the buy/sell or long/short order and monitor it in the orders or positions panel.
   

   

5. Close or replenish. Use the position’s close control when finished. Request Demo Funds from demo Assets when eligible; Adjust Demo Funds is available in the demo UTA. Do not confuse adding funds with resetting the account.

Bybit Security & Regulation

The platform offers multiple protective features, including two-factor authentication (2FA), email and SMS verification, and an anti-phishing code. Customer assets are primarily stored in multi-signature cold wallets, kept offline for added safety, and backed by full proof of reserves to ensure a 1:1 ratio.

For years, Bybit maintained a clean security record with no major breaches. However, in February 2025, the exchange faced a serious incident when hackers compromised a multisignature Ethereum cold wallet and stole roughly $1.4 billion. Bybit assured users that all customer funds remained secure and that trading operations continued without disruption.

In addition, the exchange introduced a $100 million insurance fund in October 2022 to assist during market downturns, although it is currently limited to institutional clients. If users no longer wish to continue with the exchange, they also have the option to fully delete their account.

Follow our Bybit account deletion guide if you want to bid adieu to your account. 

Bybit Customer Support

Let’s review the Bybit support experience now. The Bybit customer support can be contacted through the 24/7 live chat in the bottom right corner (click on the headset). By default, you will be first talking to a chatbot.

Simply ask to speak to a real human or support staff member, and the bot will direct you to the official Bybit customer support.

With an average response time of 1 minute, the bybit customer support service is excellent. Aside from being incredibly fast, the Bybit staff is also very knowledgeable and helpful. In order to receive the best possible help, make sure you are logged into your Bybit trading account.

The Bybit exchange also has a comprehensive FAQ and Learn center where you can research things on your own instead of having to contact customer support.

Bybit Deposit Methods

Bybit accepts crypto deposits for over 380 different assets, and all crypto deposits are free of charge. Fees are only applied for FIAT deposits and crypto direct purchases.

With over 15 supported FIAT currencies on Bybit, crypto traders can onramp their local currencies such as EUR, USD, TRY, GBP, RUB, and more. You can also hold FIAT in your Bybit wallet to reduce exposure to the crypto market.

The FIAT deposit methods on Bybit include Advcash, Credit Card, Paysera, Revolut, SEPA, and Bank transfer. The fees range between 0% and 4%, based on your currency and payment method. Some of the cheapest deposit methods are Advcash Wallet with 0% fees and 0 “Easy Bank Payment” with fixed fees of 0.30€.

Advcash transactions are also processed in real-time, while bank transfers can take 1-3 working days.

Bybit Withdrawal Methods

The crypto withdrawal fees on Bybit vary, depending on the crypto and network you choose. Some networks, like the Ethereum network (ERC20), have a relatively high withdrawal fee. Some of the cheap crypto withdrawal options are USDT or BUSD with the TRC20 or BEP20 network. The Bybit withdrawal fee for these two crypto assets ranges between $0.50 and $1.

If you want to withdraw FIAT, you can do that from your funding wallet in the FIAT section. As of 2025, you can withdraw over 15 different FIAT currencies. The withdrawal methods are Advcash Wallet and ZEN. Furthermore, Bybit offers instant FIAT offramps with no withdrawal fees.

Each KYC level has a different withdrawal limit. Refer to the table below for more information (Updated March 2025). While unverified users can withdraw their funds from Bybit, they can not trade on the platform.

Bybit Alternatives

See every Bybit alternative compared →

Final Thoughts

Overall, we found that Bybit is an excellent choice for both beginner and experienced traders looking for an easy-to-use cryptocurrency futures exchange platform with robust security protocols and competitive fees.

Whether you’re just getting started with cryptocurrency or you’re a seasoned pro looking for a reliable place to trade digital assets, Bybit could be worth considering as your go-to choice for crypto exchanges.

Bybit offers all major coins with over 380+ spot cryptos and 711 futures trading pairs. You can buy cryptos with over 15 FIAT currencies, and you can trade the spot and futures markets with some of the lowest fees in the crypto space and up to 100x leverage.

With its advanced security measures, intuitive interface, low fees, and powerful features, it’s no wonder why so many traders consider it to be one of the best trading platforms. If you think Bybit is the right choice for diving into the cryptoverse, you can create your account on the official platform.

Visit Bybit ↗

Questions

FAQ

Is Bybit exchange a legit crypto exchange?

Yes, Bybit is a legit crypto exchange. It has millions of customers and also complies with laws and regulations such as anti-money laundering laws.

Where is Bybit located?

Bybit was established in March 2018 and has its main offices in Dubai. Bybit also has offices in Singapore, Taiwan, and Hong Kong.

Does Bybit require KYC?

Yes, Bybit requires KYC verification. All traders on Bybit must verify their identity in order to use the platform.

Does ByBit Require KYC to Withdraw?

Yes, ByBit requires KYC to withdraw crypto and fiat currencies.

Does ByBit Require KYC to Deposit?

Yes, ByBit requires KYC to deposit crypto and fiat currencies.

Is ByBit a Good KYC Exchange?

Having KYC security isn’t the only factor that should make you use ByBit. It also has many other features that make it unique from various crypto exchanges like Binance and Bitget, and are the reasons why you should consider it for your crypto trades.

Does Bybit allow customers from the USA?

No, Bybit does not allow customers from the USA. For US crypto traders, we recommend BingX, MEXC, or BYDFi.

Does Bybit allow customers from Canada?

No, Bybit does not allow customers from Canada. For Canadian crypto traders, we recommend Bitget.

What are the Fees on Bybit?

The spot fees are 0.1% maker and 0.1% taker. Futures fees are 0.02% maker and 0.055% taker.

If I don’t have cryptocurrencies yet, can I buy them from Bybit directly?

Yes, you can purchase cryptocurrencies on Bybit with a credit card or bank transfer.

What are Bybit fees?

Spot trading costs 0.1% maker / 0.1% taker; futures cost 0.02% maker / 0.055% taker. Figures load live from our exchange database.

Is Bybit available in the United States?

No, the US appears on Bybit's restricted-country list.