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Bybit Crypto Exchange Review: Features, Fees, Security, and Who It’s Best For
If you're looking for a crypto exchange that handles high-volume trading with speed and precision-especially in futures and perpetual contracts-Bybit is one of the top names you’ll hear. Founded in 2018, it’s grown from a niche derivatives platform into a global powerhouse serving over 25 million users as of late 2025. But is it right for you? That depends on your experience level, trading style, and where you live.
Bybit doesn’t try to be everything to everyone. It doesn’t have the same global reach as Coinbase or the sheer volume of tokens as Binance. Instead, it doubles down on what it does best: fast, reliable, deep-liquidity trading for people who know what they’re doing. If you’ve ever been stuck waiting for an order to fill during a volatile market swing, you already know why speed matters. Bybit’s matching engine processes 100,000 orders per second with sub-millisecond latency, according to CryptoQuant’s August 2025 tests. That’s not marketing fluff-it’s what keeps traders in the game when prices are moving fast.
What You Can Trade on Bybit
Bybit offers three main ways to trade: spot, derivatives, and fiat-to-crypto via P2P.
- Spot trading: Over 500 cryptocurrency pairs, including BTC, ETH, SOL, and major stablecoins like USDT and USDC. Base fees are 0.10% for both makers and takers, but you can drop that with Bybit’s native token, MNT. Holding MNT can cut your spot fees by up to 25%, which is better than Bitget’s 20% discount with BGB.
- Derivatives trading: This is where Bybit shines. Perpetual contracts and futures on major coins let you trade with leverage up to 100x (some sources claim 200x, but 100x is the widely confirmed limit). Maker fees are as low as 0.01%, and taker fees sit at 0.055%. That’s cheaper than Bitget’s 0.06% taker fee. The platform integrates TradingView charts directly, so you don’t need to switch tabs to use advanced indicators or draw trendlines.
- Fiat on-ramp: Bybit’s P2P platform supports 75 fiat currencies and over 300 cryptocurrencies. You can buy crypto with EUR, GBP, CAD, AUD, and more using bank transfers or cards. But here’s the catch: the selection of payment methods isn’t as broad as on Coinbase, and some users report delays during high demand.
Security: A Major Setback, But Strong Recovery
In February 2025, Bybit suffered what Coin Bureau called “the largest hack in crypto history” at the time. Hackers exploited a vulnerability and drained millions in user funds. The panic was real. But within 72 hours, Bybit announced it had covered all losses from its own funds-no user lost a cent. That’s rare in crypto.
Since then, they’ve overhauled their security. Now, 95% of user assets are stored in cold wallets. They use multi-signature tech, SSL encryption, two-factor authentication, and anti-phishing codes. Their security audit by Hacken in September 2025 confirmed these measures are solid.
They also launched a public Proof-of-Reserves (PoR) dashboard using Merkle Trees. You can see real-time data on how much they hold in reserves versus liabilities. But here’s the catch: these reports aren’t independently verified by a third party like an accounting firm. That’s a red flag for some. Still, the transparency is better than most exchanges offer.
They also boosted their SAFU (Secure Asset Fund for Users) to $100 million. That’s a safety net for future incidents. It’s not foolproof, but it shows they’re serious about protecting users.
Fees and Discounts: Competitive, But It Pays to Hold MNT
Bybit’s fee structure is straightforward but layered. Here’s the breakdown:
| Trading Type | Bybit (Base Fee) | Bybit (Max Discount with MNT) | Bitget (Base Fee) | Coinbase (Base Fee) |
|---|---|---|---|---|
| Spot (Maker) | 0.10% | 0.075% | 0.10% | 0.50% |
| Spot (Taker) | 0.10% | 0.075% | 0.10% | 0.50% |
| Futures (Maker) | 0.01% | 0.0075% | 0.01% | N/A |
| Futures (Taker) | 0.055% | 0.041% | 0.06% | N/A |
Bybit wins on derivatives fees. If you trade futures often, you’ll save money compared to Bitget or OKX. But if you’re a spot-only trader, the savings aren’t huge unless you’re holding MNT. And even then, you need to trade at least $500,000 monthly to unlock the top discount tier.
Withdrawal fees vary by coin. BTC withdrawals cost 0.0005 BTC, ETH is 0.005 ETH. These are standard. No hidden fees, no surprise charges.
Mobile App and User Experience
Bybit’s mobile app is one of the best in the industry. It’s rated 4.7/5 on both iOS and Google Play with over 12,500 reviews. Users love the clean layout, real-time charts, and one-tap leverage adjustments. The interface is more intuitive for derivatives trading than Kraken’s or Bitget’s.
But it’s not beginner-friendly. If you’ve never traded before, you’ll feel overwhelmed. There’s no guided onboarding. No “start here” button. You’re dropped into a dashboard full of charts, order types, and risk tools. That’s fine if you’re experienced. Not great if you’re learning.
They do offer a demo account with $50,000 in virtual funds. MindMathMoney’s testing showed it cuts the learning curve by 40% for new derivatives traders. Use it. Don’t skip it.
Regulation and Availability
Bybit is not available everywhere. You can’t sign up if you’re in the United States, United Kingdom, Canada, Singapore, or Australia. These are major markets-and they’re off-limits due to regulatory pressure. In the UK, for example, the FCA has banned Bybit from operating. Users there report sudden account restrictions.
Bybit is licensed in Dubai (VARA), Abu Dhabi (ADGM), and Estonia (FIU). That gives it legitimacy in Europe and the Middle East, but it’s not a global player like Coinbase, which operates in over 100 countries.
Bybit US exists as a separate entity with limited features-no derivatives, no leverage, just spot trading. So if you’re in the U.S., you’re not getting the full Bybit experience.
Customer Support and Learning Resources
Support is fast. Live chat is available 24/7, and average response time is 1.7 minutes during peak hours, according to Trustpilot’s data. No phone support, but you don’t need it if you’re trading. Email support can take 24-48 hours.
The learning resources are impressive. Bybit’s Academy has 127 video tutorials, 87 written guides, and step-by-step walkthroughs for everything from placing your first order to using stop-losses on perpetual contracts. CoinStats called it “one of the most comprehensive educational hubs on any crypto exchange.”
Who Is Bybit For?
Bybit isn’t for everyone. Here’s who it works best for:
- Experienced traders: If you understand leverage, liquidation risk, and funding rates, Bybit’s tools and speed are unmatched.
- Derivatives-focused traders: If you trade futures or perpetuals daily, Bybit’s low fees and deep liquidity make it a top pick.
- Traders outside the U.S., UK, Canada, Singapore: If you’re in Europe, Asia, or Latin America, Bybit offers one of the most powerful platforms available.
It’s not for:
- Complete beginners: Too many options, too little hand-holding.
- Users in restricted countries: You simply can’t sign up.
- Those who want fiat-to-crypto simplicity: Coinbase or Revolut are easier for buying crypto with a credit card.
Final Verdict
Bybit is not a beginner’s exchange. It’s a professional’s tool. It’s fast, secure (after its 2025 recovery), and built for traders who want to move quickly and trade big. The fees are competitive, especially for derivatives. The app is polished. The learning materials are excellent.
But the regulatory restrictions are real. If you’re in the UK or U.S., you’re out of luck. And while the platform recovered from its 2025 hack impressively, the incident still raises questions about how vulnerabilities slipped through.
If you’re outside the restricted zones and you’re serious about trading crypto derivatives, Bybit deserves a top spot on your shortlist. Just don’t skip the demo account. And never trade more than you can afford to lose.
Is Bybit safe to use in 2025?
Yes, Bybit is considered safe to use in 2025 after major security upgrades following its February 2025 hack. The platform now stores 95% of user funds in cold wallets, uses multi-signature technology, and offers a public Proof-of-Reserves dashboard. All user funds were fully reimbursed after the hack, and the SAFU fund was increased to $100 million. However, the Proof-of-Reserves reports are not independently audited, so users should remain cautious.
Can I trade futures on Bybit in the UK?
No, you cannot trade futures or use any derivatives features on Bybit if you’re in the UK. The Financial Conduct Authority (FCA) has banned Bybit from offering services to UK residents. Even if you try to sign up using a VPN, your account may be restricted or frozen. Spot trading is also blocked for UK users.
What’s the maximum leverage on Bybit?
Bybit offers up to 100x leverage on select perpetual contracts, such as BTC/USDT and ETH/USDT. Some third-party sources claim 200x leverage is available, but official documentation and verified user reports confirm 100x as the highest confirmed limit. Higher leverage increases risk significantly-most experienced traders use 10x-20x for better risk management.
Does Bybit have a mobile app?
Yes, Bybit has a mobile app available on both iOS and Android. It’s rated 4.7/5 with over 12,500 reviews. The app includes full access to spot and derivatives trading, TradingView charts, real-time alerts, and a demo account. It’s one of the most feature-rich crypto trading apps available, though it’s designed for experienced users and lacks beginner tutorials.
How do I deposit money into Bybit?
You can deposit cryptocurrency directly to your Bybit wallet using deposit addresses for each coin. For fiat, use the P2P marketplace to buy crypto with bank transfers, cards, or other payment methods in 75 currencies. Bybit doesn’t offer direct bank deposits or card purchases like Coinbase-P2P is your only fiat option. Withdrawals are processed quickly, usually within 10-30 minutes.
What’s the difference between Bybit and Binance?
Binance has higher overall trading volume and supports more tokens (1,000+), while Bybit focuses on derivatives with better execution speed and lower fees. Binance offers more educational content and fiat on-ramps globally. Bybit’s interface is more advanced and geared toward active traders. Binance is available in more countries; Bybit is restricted in the UK, US, Canada, and Singapore. If you trade futures daily, Bybit is often preferred. For beginners or spot-only traders, Binance is more accessible.
Next Steps
If you’re outside restricted regions and ready to try Bybit:
- Visit bybit.com and sign up with a valid email.
- Complete Level 2 identity verification (ID + selfie) to unlock $20,000 daily withdrawals.
- Use the demo account with $50,000 in virtual funds to practice trading with leverage.
- Deposit crypto (not fiat) to start trading-use P2P only if you need to buy with local currency.
- Enable two-factor authentication and set up an anti-phishing code immediately.
If you’re in the UK, US, Canada, or Singapore, don’t waste time trying to sign up. Use a regulated local exchange like Coinbase, Kraken, or Bitstamp instead. Bybit is powerful-but only if you’re allowed to use it.
Mike Calwell
Bybit? Nah. Too much hassle. Just use Coinbase.
Rick Mendoza
If you're still using Coinbase you're not trading you're just holding crypto like a toddler with a lollipop. Bybit's 100k OPS engine makes your average exchange look like a dial-up modem. Stop pretending you're a trader if you need hand-holding.
Lori Holton
The so-called 'largest hack in crypto history' was conveniently covered by their own funds... right after they quietly moved $400M in hot wallet exposure overnight. Coin Bureau didn't mention the internal whistleblower report from January 2025 that exposed the API key misconfiguration. And now they're pushing 'Proof-of-Reserves' like it's a sacred text. No third-party audit? That's not transparency. That's theater.
Bruce Murray
I've been using Bybit for over a year now. The demo account saved me from blowing up my first real position. Took me 3 weeks of paper trading to understand funding rates. It's intense, but if you're patient, it pays off. Don't rush in. Just watch. Learn. Then trade small.
Aryan Juned
Brooooooo Bybit is LITERALLY the only exchange that understands real trading 🤯🔥 100x leverage on BTC? That's not trading that's alchemy! I made 230% in 48 hours last month. You're not a trader if you don't use Bybit. Also, MNT is going to 1000x. I'm buying more today. 🚀💎
Nataly Soares da Mota
The epistemological framework of centralized exchanges is inherently contradictory. Bybit's claim to security through cold storage and SAFU funds operates under a performative illusion of solvency - a Hegelian dialectic of trust mediated by algorithmic transparency. The Proof-of-Reserves dashboard is a Foucauldian panopticon disguised as accountability. We are not being protected; we are being observed, and our risk profiles are being commodified.
Teresa Duffy
You guys are overthinking this. If you're outside the US/UK and you're serious about trading, just try it. The app is smooth, the support is fast, and the demo account is free. I started with $50 and learned so much. Don't be scared - just start small and keep learning. You got this!