Key Takeaways
- Global Reach: Bybit now ranks as the second-largest cryptocurrency exchange worldwide, serving over 60 million users.
- Trading Variety: Offers spot, margin, futures, options, and advanced tools like trading bots and copy trading.
- Security First: Features cold wallet storage, two-factor authentication, and strict KYC procedures.
- Regulatory Challenges: Despite hurdles in regions like France and the Netherlands, Bybit continues to align with global compliance standards.
- Promotional Offer: New users can earn up to $30,050 in rewards and enjoy 10% off trading fees.
A Quick Overview
Founded in 2018 by Ben Zhou, Bybit has grown from a derivatives-focused exchange into a full-service trading platform. In 2023, it moved its global headquarters to Dubai, cementing its international presence.
By early 2025, the platform boasts over 60 million registered users and is second only to Binance in global trading volume. With more than 650 listed cryptocurrencies, Bybit supports a wide range of trading markets including spot, futures, options, and margin trading.
Regulatory Roadblocks
In December 2024, Bybit adjusted its operations across the European Economic Area to comply with the MiCA regulation, temporarily suspending communications while pursuing a license in Austria. The platform also exited several countries — including the US, UK, Canada, and France — due to local regulatory constraints.
Nonetheless, Bybit operates in 195+ countries, and it continues to work on achieving compliance in more regions.
User Experience
Bybit’s interface is clean, modern, and easy to navigate, whether you’re trading on the web, mobile app, or via API. The platform supports:
- Web Platform: Advanced trading dashboard, portfolio tracking, and technical analysis tools.
- Mobile App: Full-featured apps for iOS and Android.
- API Access: For pro traders and developers seeking algorithmic solutions.
Signing up is simple:
- Register with an email and password
- Confirm email
- Enable 2FA
- Complete KYC with ID and proof of address
All personal data is encrypted and stored securely.
Trading on Bybit
You can trade over 650 cryptocurrencies, including BTC, ETH, and a wide selection of altcoins.
Supported Markets
- Spot Trading: Direct crypto-to-crypto exchanges
- Futures & Perpetual Contracts: Trade with leverage on market movements
- Options: Trade contracts with customizable expiration dates
- P2P Trading: Over 70 fiat currencies supported for direct crypto purchases
Trading Features
- Strategy alerts and smart trading systems
- Customizable charts and workspaces
- Demo trading for beginners
Fees and Execution
Bybit offers competitive fees across all products:
- Spot Trading: 0.1% for maker/taker (reduced with VIP levels)
- Derivatives: Maker at 0.02%, taker at 0.055%
- Fiat Trading: Starts at 0.15% (maker) and 0.2% (taker)
- Withdrawals: Flat rates, e.g., 0.0005 BTC or 0.005 ETH
Execution speed is a major strength — Bybit’s matching engine handles up to 100,000 transactions per second.
Security Measures
Bybit prioritizes user security through:
- Cold Storage for most funds
- Multi-signature wallet systems
- 2FA, Anti-phishing codes, and real-time monitoring
- Encrypted data transmission
An insurance fund adds an extra layer of protection in case of systemic risks.
Compliance & Regulations
While Bybit has experienced friction with regulators — including a €2.25 million fine in the Netherlands and withdrawal restrictions in France — it is taking proactive steps to become fully compliant.
As of February 2025, the exchange is registered with FIU-IND in India, and continues to pursue licenses under the MiCA framework and other local laws.
Customer Support
- 24/7 Live Chat: Available on web and app
- Email Support: For detailed or complex issues
- Social Media Presence: Active on X, Telegram, YouTube, Reddit, and more
- Help Center: In-depth guides, tutorials, and webinars
Response times are generally decent, though users report occasional delays during peak periods.
What Users Are Saying
Like most exchanges, positive user reviews are often outnumbered by complaints, mostly from frustrated users facing withdrawal or support delays. Review scores average:
- Sitejabber: ~1.2 / 5
- Reviews.io: ~2.1 / 5
However, advanced traders praise Bybit’s depth of tools and innovative features.
Unique Features
- Options Trading: Daily to quarterly expirations with strong liquidity.
- Trading Bots:
- Grid bots (spot/futures)
- Martingale & combo bots
- DCA investment bots
- Copy Trading: Mirror top traders based on ROI, win rate, and stability
- Bybit Earn: Fixed/flexible savings with high yield
- Crypto Loans: Use assets as collateral to borrow other coins
- MetaTrader 5 Access: Trade gold, forex, and commodities with leverage up to 500x
Pros & Cons
| Pros | Cons |
|---|---|
| Low fees across markets | Restricted in several major countries |
| Advanced tools & automation | Mixed customer support experiences |
| Strong security protocols | Regulatory hurdles in key regions |
| Copy trading & bots | User reviews are polarized |
| Support for 650+ cryptos | Withdrawal fees vary by asset |
Final Verdict
Bybit has emerged as a top-tier trading platform, especially for users seeking advanced tools, automation, and low fees. While regulatory limitations restrict access in key markets, its consistent growth and innovation signal a strong future.
If Bybit maintains its pace and continues to improve regulatory coverage and support, it’s well-positioned to become the leading alternative to Binance in the global crypto trading space.
Frequently Asked Questions (FAQs)
1. What is Bybit and why is it popular?
Bybit is a major crypto exchange known for advanced features, low fees, and robust security. It supports 60M+ users and ranks second globally by trading volume.
2. Is Bybit safe?
Yes. Bybit uses cold wallets, 2FA, encryption, and an insurance fund to protect user funds and accounts.
3. What are Bybit’s fees?
Spot: 0.1% | Derivatives: 0.02% (maker), 0.055% (taker). Lower fees are available for high-volume traders.
4. Can I use Bybit in my country?
Bybit is not available in the US, UK, France, Canada, Singapore, and other restricted regions.
5. How do I sign up?
Register with email → verify → enable 2FA → complete KYC with ID and proof of address.
6. What cryptos can I trade?
Over 650 assets including BTC, ETH, SOL, SHIB, ADA, and a broad mix of altcoins and emerging tokens.
