Bybit Review 2025: Is It the Right Crypto Exchange for You?

In the rapidly growing world of cryptocurrency exchanges, Bybit has gained a strong reputation for its robust trading features and user-centric design. Launched in 2018, Bybit is particularly well-known for its advanced derivatives trading, appealing to both beginners and seasoned traders. But is Bybit the right platform for you?

In this detailed Bybit review, Coinreviews explores the platform’s key features, including its spot trading, perpetual contracts, and user-friendly interface. We’ll also take a closer look at Bybit’s fee structure, security protocols, and unique offerings like its fast trade execution and passive income opportunities. Whether you’re a seasoned trader searching for an exchange with advanced tools or a newcomer looking for an intuitive platform, this review will help you make a well-informed decision.

Bybit General Information

Website	https://www.bybit.com/
Headquarters	Singapore
Parent Company	Bybit Fintech Limited
Supported Pairs	4
Has token	Yes
Fees	Low

What is Bybit?

Bybit Review

Bybit, established in 2018, has rapidly emerged as one of the top cryptocurrency exchanges globally. Known for its intuitive platform, the exchange is designed to cater to both novice and experienced traders, offering a seamless trading experience with cutting-edge features such as high liquidity, advanced charting tools, and various order types. Bybit also prioritizes the security of its users through robust security protocols, including two-factor authentication and cold wallet storage. Additionally, the platform’s competitive fee structure and responsive customer support have made it a favorite among the crypto trading community.

How Does ByBit Work?

Bybit Review

To effectively engage in crypto trading on Bybit, a solid grasp of key concepts such as “derivatives,” “leverage,” and “perpetual contracts” is essential. Bybit operates with an expectation that its users are familiar with these terms. The platform creates an accessible environment for traders, allowing them to trade crypto derivatives linked to digital currencies, utilizing leverage to amplify potential gains or losses.

Perpetual contracts on Bybit function similarly to traditional futures contracts, in that they allow traders to agree to buy or sell an asset at a set price at some point in the future. The main difference is that perpetual contracts don’t have an expiry date, allowing traders to hold positions indefinitely while speculating on the future price movements of the underlying assets. This feature is particularly useful for traders looking to maintain flexibility while navigating market volatility.

Currently, Bybit focuses on bridging the gap between the world of cryptocurrencies and fiat currencies. The platform supports trading in four main cryptocurrency markets: Bitcoin (BTC), Ethereum (ETH), EOS, and XRP, all paired with the U.S. Dollar (USD). This allows users to engage in a diverse range of crypto-to-fiat derivative trading activities.

Additionally, Bybit enhances user experience by offering an internal asset exchange feature. This enables traders to directly swap supported cryptocurrencies on the platform without needing external services. The exchange supports five cryptocurrencies for these direct swaps: Bitcoin (BTC), Ethereum (ETH), EOS, XRP, and Tether (USDT). This added functionality helps traders hedge their positions and manage risk by quickly converting assets, providing an extra layer of flexibility and security in response to market fluctuations.

When making these swaps, Bybit bases its prices on real-time exchange rates. Each asset swap is subject to a specific quotation rate, and if this rate differs by more than 0.5% from the real-time market rate, the transaction will not proceed. This ensures that the exchange cost is capped at a maximum of 0.5% per trade, maintaining cost transparency and consistency.

At the time of writing, Bybit does not offer a direct exchange between fiat currencies and cryptocurrencies, limiting its services to crypto-to-crypto trading.

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Bybit Review: Key Features

Launched in 2018, Bybit has quickly established itself as a prominent player in the crypto derivatives market, appealing to both seasoned traders and those new to the space. Headquartered in Singapore and led by CEO Ben Zhou, the platform has expanded its global footprint, offering a range of impressive features that cater to a diverse trading community.

One of Bybit’s standout features is its margin trading, which allows users to trade perpetual contracts for Bitcoin (BTC), Ethereum (ETH), EOS, and XRP with leverage options ranging from 50x to 100x, providing a wide range of risk and reward management. This flexibility enables traders to fine-tune their positions according to their individual strategies.

The platform also supports multiple currencies, allowing users to deposit, withdraw, and trade in BTC, ETH, EOS, XRP, and USDT (which is currently available only for hedging purposes, not direct trading). Bybit’s internal Asset Exchange feature further simplifies the process by enabling seamless crypto-to-crypto conversions, giving traders greater control over their assets without relying on external exchanges.

Bybit’s low trading fees are another key draw, with the platform offering some of the most competitive rates for margin trading in the industry. Coupled with the fact that the exchange operates without requiring Know Your Customer (KYC) verification, users can trade with privacy and ease. This no-KYC policy is particularly attractive to traders who value anonymity and data security.

When it comes to technology, Bybit shines with a robust and user-friendly trading interface, designed to accommodate both beginner and advanced users. The platform can handle up to 100,000 transactions per second, ensuring smooth performance even during times of high market volatility. Additionally, the platform’s security record is impeccable, with no reported breaches, hacks, or leaks of user information since its inception.

To complement its features, Bybit offers round-the-clock customer support, available via live chat and email, in multiple languages. This commitment to customer service ensures that users from around the world can access help whenever needed.

In its relatively short existence, Bybit has grown to become a serious contender in the margin trading sector, often compared to established platforms like BitMEX and PrimeXBT. It offers a fresh alternative for those seeking high-leverage trading options on a reliable and secure platform.

Although Bybit is headquartered in Singapore, the company is officially incorporated as Bybit Fintech Limited in the British Virgin Islands. It also operates offices in Hong Kong and Taiwan, furthering its international reach. The founding team behind Bybit brings extensive experience from the forex industry, investment banking, and blockchain sectors, which has contributed to its rapid growth.

Within just two years of launching, Bybit accumulated a user base of over 100,000, spanning key crypto markets in North America, Europe, Russia, Japan, and South Korea. However, due to regulatory restrictions, Bybit excludes traders from certain regions, including the United States, Quebec (Canada), Singapore, Cuba, Iran, Syria, North Korea, Crimea, and Sevastopol, as well as Sudan. Despite these limitations, Bybit’s services remain available to the vast majority of users worldwide, cementing its reputation as a go-to platform for leveraged crypto trading.

ByBit fees

Bybit stands out as a cost-effective platform when it comes to trading fees, offering a competitive structure that benefits both market makers and takers. For market takers, the exchange charges a fee of 0.075%, while market makers are incentivized with a rebate of 0.025% for providing liquidity to the platform. This fee model is quite favorable within the crypto trading industry, ensuring both sides of the trade are considered.

Here’s a breakdown of the fee structure for the available trading pairs:

Contracts	Max. Leverage	Maker Rebate	Taker Fees	Funding Rate	Funding Rate Interval
BTC/USD	100x	-0.025%	0.075%	0.0416%	Every 8 hours
ETH/USD	50x	-0.025%	0.075%	0.0689%	Every 8 hours
EOS/USD	50x	-0.025%	0.075%	0.0980%	Every 8 hours
XRP/USD	50x	-0.025%	0.075%	0.0692%	Every 8 hours

In addition to the trading fees, users on Bybit are subject to a funding fee, which is the cost exchanged between buyers and sellers based on the platform’s funding rate. If the funding rate is positive, traders pay to fund their position; if negative, they receive funding. It’s important to note that Bybit itself neither pays nor collects these funding fees—it is entirely an exchange between users.

Bybit doesn’t impose deposit or withdrawal fees, either. The only cost associated with withdrawals is the standard network fee, which is set at the following rates for different cryptocurrencies:

Coin	Bitcoin (BTC)	Ethereum (ETH)	XRP	EOS	Tether (USDT)
Network Fee	0.0005	0.01	0.25	0.1	5

This low-fee structure makes Bybit an attractive option for traders looking to minimize costs. Compared to other popular margin trading platforms, Bybit holds its own with a clear focus on delivering high leverage options, low fees, and flexibility in asset management.

Here’s how Bybit compares to other exchanges in the market:

Exchange	Leverage	Cryptocurrencies	Maker Fee/ Taker Fee	Link
Bybit	100x	4	-0.025% / 0.075%	Trade Now
PrimeBit	200x	3	-0.025% / 0.075%	Trade Now
PrimeXBT	100x	5	0.05%	Trade Now
BitMEX	100x	8	-0.025% / 0.075%	Trade Now
Binance	3x	17	0.02%	Trade Now
Bithoven	20x	13	0.2%	Trade Now
Kraken	5x	8	0.01% / 0.02%	Trade Now
Gate.io	10x	43	0.075%	Trade Now
Poloniex	5x	16	0.08% / 0.2%	Trade Now
Bitfinex	3.3x	25	0.08% / 0.2%	Trade Now

In comparison to its peers, Bybit holds a competitive edge, particularly when looking at its multi-currency support for margin trading. While many platforms focus on Bitcoin-only derivatives, Bybit allows users to trade and manage multiple assets, such as Bitcoin, Ethereum, EOS, and XRP, within the same account.

One unique feature that sets Bybit apart is its integrated Asset Exchange, which allows traders to effortlessly swap between supported cryptocurrencies within the platform. The rates for these swaps are always capped at a maximum deviation of 0.5% from the real-time quotation rate, providing transparency and fairness for all users.

Overall, Bybit distinguishes itself as a cost-efficient and feature-rich platform for traders looking to engage in high-leverage crypto derivatives trading, offering a blend of low fees, a seamless interface, and multi-currency flexibility that few other exchanges can match.

How to register on Bybit?

Creating an account on Bybit is a straightforward process, similar to many other leading cryptocurrency exchanges. Start by navigating to the main page of the Bybit website and clicking on the “Sign Up” button.

Next, you’ll be prompted to fill out a registration form, where you can choose to sign up using either your email address or mobile number. You’ll also need to create a password, which is a critical step for securing your account. It’s highly recommended to use a strong and complex password, combining uppercase and lowercase letters, numbers, and symbols. Ensure that your password is stored in a secure location and never share it with anyone to maintain your account’s safety.

Once you submit the form, Bybit will send a verification message to your registered email or mobile number. This message will contain a unique code that you’ll need to input on the platform to verify your account. Once the code is successfully entered, your Bybit account will be activated, and you’ll be ready to start trading.

Additionally, Bybit offers promotional bonuses that you can claim after registration, giving you the opportunity to earn up to $30,030 in rewards. With up to 100x leverage available for trading, you can immediately explore the platform’s features and begin trading.

How Does ByBit Support Leverage Trading?

Bybit offers leverage trading based on the value of the derivative contract being traded, allowing users to amplify their positions significantly. However, leverage trading carries a higher level of risk, making it more suitable for experienced traders who are comfortable navigating market fluctuations. Bybit allows users to trade BTC/USD pairs with up to 100x leverage, providing the opportunity for substantial gains, but also increasing the potential for loss. For other cryptocurrencies like Ethereum (ETH), EOS, and XRP, the maximum available leverage is capped at 50x, which still presents a high-risk, high-reward option for traders who prefer to engage in aggressive strategies.

Compared to platforms such as Kraken and Binance, Bybit offers considerably higher leverage options, though it falls slightly behind PrimeBit in this regard. This makes Bybit an appealing choice for those seeking more leverage than traditional exchanges but who may not want to take on the extreme risk levels available on some competitors’ platforms.

In addition to its leverage features, Bybit implements a risk limit mechanism for the four supported cryptocurrencies (BTC, ETH, EOS, and XRP). This system allows users to reduce their leverage limits in order to manage risk more effectively. Financing costs on the platform are managed through interest rates, which include calculated premiums and discounts based on market conditions.

Bybit also employs a market maker/taker fee model, meaning that the fees traders pay depend on their role in providing liquidity to the platform. Market makers, who help improve liquidity by placing limit orders, receive a rebate of 0.025% for each trade they execute. On the other hand, market takers, who execute trades at the current market price, are charged a fee of 0.075%. This structure encourages traders to contribute to the overall liquidity of the platform, rewarding those who do so while still maintaining competitive fees for all participants.

ByBit’s Insurance and Liquidation Scheme

Given the inherent risks associated with the settlement of futures contracts, Bybit has developed an insurance fund mechanism to protect traders from extreme losses. This fund is designed to assist traders whose positions have been liquidated below their bankruptcy price, meaning that their initial margin has been entirely depleted. When liquidation occurs and the trader’s margin falls below this threshold, the insurance fund steps in to cover the shortfall, helping to limit the further financial damage.

To enhance the security and stability of trading, Bybit has also implemented several protective mechanisms for managing advanced trading risks:

Stop-loss orders: Traders can set stop-loss limits on their positions to prevent them from hitting liquidation levels. This proactive measure helps reduce the chance of a trade reaching a critical point where the trader’s margin is exhausted.
Auto margin replenishment: This feature automatically adds margin to a position when the available margin is running low. It helps maintain a healthy margin balance, preventing sudden liquidations by ensuring the margin is kept at a satisfactory level when it’s at risk of depletion.
Dual price mechanism: To mitigate the risk of market manipulation, Bybit employs a dual price mechanism. This system introduces two prices: the mark price, which is based on the global market price of Bitcoin (or other assets), and the last traded price, which is the market price on Bybit. Liquidations are triggered by the mark price, while the last traded price is used to calculate profits or losses when a position is closed. This separation reduces the chances of unfair manipulation that could otherwise lead to unwarranted liquidations.
Automatic deleveraging system (ADL): In scenarios where a trader’s position cannot be liquidated at the bankruptcy price, and the insurance fund cannot fully cover the loss, Bybit activates its automatic deleveraging system. This mechanism reduces the leverage of positions in a controlled manner, based on a predefined algorithm. The system automatically deleverages positions held by other traders if needed, prioritizing larger and more profitable positions for reduction to ensure platform stability.

These mechanisms work together to safeguard traders and maintain market integrity, making Bybit a platform that strives to balance the opportunities of high-leverage trading with risk management tools. By offering these advanced features, Bybit ensures that even in volatile market conditions, traders are better equipped to manage potential risks.

Is ByBit a Secure Trading Option?

Bybit stands out as a platform that does not require its users to undergo the traditional know-your-customer (KYC) verification process. This means that traders are not obligated to submit personal identification documents, such as IDs or passports, to start trading. However, this lack of KYC doesn’t mean that Bybit compromises on security. In fact, the platform has several robust measures in place to safeguard user accounts and funds.

One of the primary security features Bybit offers is two-factor authentication (2FA). Traders can enable 2FA through various methods, including email, SMS, and Google Authenticator, adding an extra layer of protection to their accounts. This ensures that even if someone gains access to your login credentials, they would still need a second form of verification to access your account.

When it comes to securing user funds, Bybit employs a sophisticated system of offline storage, or “cold wallets,” which are kept in a highly secure, remote environment. The bulk of customer assets are stored in these cold wallets, providing protection from online threats and hacking attempts.

To further enhance the security of fund transfers, Bybit uses multi-signature (multisig) addresses. This system requires multiple private keys to authorize transactions, preventing any single individual from having complete control over the funds. As a result, no single person or entity is able to move assets without the consent of multiple authorized parties, ensuring that assets are handled in a secure and distributed manner.

For immediate withdrawals, a small portion of funds is kept in “hot wallets,” which are more accessible for quick transactions, while still maintaining a high level of security. Even though these funds are available for real-time withdrawals, they are carefully monitored and controlled to minimize risk.

Bybit also utilizes SSL encryption to protect all communications between users and the platform. This encryption ensures that sensitive information, such as wallet addresses and passwords, is fully protected during transmission. Every withdrawal request undergoes a series of rigorous security checks, including manual reviews and multiple authentication steps, before it is approved. This multi-layered approach to security ensures that both user data and funds are well-protected on the platform.

What Is the Performance Like?

Bybit is committed to accommodating a diverse range of traders, from small retail investors to large-scale institutional players. To meet the varying demands of this broad user base, the platform has developed a high-performance trading infrastructure capable of handling up to 100,000 transactions per second. This impressive capacity ensures that even during periods of high market volatility, trades are executed swiftly and efficiently. Each transaction is processed in just 10 microseconds, highlighting the platform’s technical prowess and its ability to offer lightning-fast execution speeds.

However, Bybit’s ambitions don’t stop there. The platform’s engineering and technical teams, composed of experts from both the forex and blockchain industries, continuously work to optimize performance and scale their infrastructure in line with the platform’s growing user base, which has already surpassed 100,000 global traders. Bybit remains dedicated to pushing the boundaries of performance as its community expands.

The trading interface on Bybit is another standout feature. The platform’s main trading screen is designed with a clean and intuitive layout that balances functionality and aesthetics. With a sleek fuscous background, the screen feels uncluttered, making it easy for users to focus on their trades without distractions. Every feature is given equal importance, ensuring that no tool or function is sidelined in favor of another.

One of the highlights of Bybit’s interface is the use of vibrant pink and green candlesticks against the dark background, providing excellent contrast and making market movements easier to track at a glance. The order book and recent trade history windows are seamlessly integrated into the layout, ensuring that key market data is always within easy reach. The trading tools are accessible through a dedicated section on the right side of the screen, allowing users to manage their trades, view contract details, and monitor market activity without leaving the main interface.

Customization is also a key feature of Bybit’s platform. Traders can easily move and resize windows displaying asset overviews and positions, adjusting the layout to suit their preferences. Additionally, users can modify the scale design, change axis positions, and personalize the display of indicator data. The platform even allows for adjustments to the basic color scheme, along with other metrics on the screen, including the time zone, ensuring that the interface is tailored to individual needs.

Another major advantage of Bybit is the clarity it provides when executing trades. Given that trading derivatives can be complex, the platform offers a comprehensive overview of each trade before it’s finalized, ensuring that users have a full understanding of the operation they’re about to perform. This feature is invaluable for traders of all experience levels, offering transparency and helping both beginners and professionals make informed decisions.

Overall, Bybit combines technical sophistication with a user-friendly design, making it a powerful choice for traders looking for a high-performance platform.

Customer Support and Referral

Bybit excels in providing comprehensive customer support, ensuring that assistance is available around the clock, 24 hours a day, 7 days a week. The platform offers multilingual support, catering to its global user base. Users can reach out to the support team through a live chat feature directly on the platform, which provides real-time assistance for any issues or questions. Additionally, Bybit offers email support for more detailed inquiries, ensuring that users have multiple ways to get help. However, it’s important to note that phone support is not currently available, which might be a limitation for some traders who prefer voice communication.

Beyond direct support, Bybit has established a strong presence across various social media platforms, including Facebook, Instagram, Telegram, and Reddit. These channels not only serve as community hubs but also provide an additional layer of support and updates, where users can find announcements, trading tips, and interact with fellow traders.

On top of its customer service offerings, Bybit also has a referral program that rewards users for bringing new traders to the platform. For each referral, the existing user can receive a bonus of $10 in BTC, making it a simple way for traders to earn extra rewards while expanding the platform’s user base.

Bybit’s commitment to customer service and community engagement, paired with its referral incentives, ensures that traders have access to help when needed and are rewarded for growing the community

The Ease of Making Deposits with Bybit

As of February 2021, Bybit allows users to deposit several cryptocurrencies, including BTC, ETH, EOS, XRP, and USDT, to facilitate trading on the platform. The process begins with the creation of a Bybit account, which is a straightforward task. Users can register using either their email address or mobile number. For email registration, you will need to enter your email, create a secure password, and then verify your account using a confirmation code sent to your inbox. If you opt for mobile registration, a similar process applies, with verification codes being sent via SMS.

After successfully creating an account, it’s crucial for users to prioritize their account security. This includes setting a strong password and linking it to your personal email or mobile number. Bybit also offers two-factor authentication (2FA), which users are encouraged to activate. This added layer of security requires verification via your mobile device before you can access your account or execute any transactions. Additionally, to enable withdrawals, users must activate the Google Authenticator option, which further safeguards their funds.

Depositing funds into your Bybit account is designed to be user-friendly. Simply navigate to the Assets tab, select the cryptocurrency you wish to deposit, and click on the Deposit option. The system will then provide you with a wallet address specific to your chosen cryptocurrency. It’s important to note that deposits can only be made using the supported cryptocurrencies, as Bybit does not accept fiat currency for funding accounts.

Another advantage of using Bybit is that there are no minimum deposit requirements, and the platform does not charge any fees for deposits. The only cost incurred is a small fee for processing the transaction on the blockchain. However, users should be aware that withdrawal policies differ. Each supported cryptocurrency does have a minimum withdrawal amount, which is as follows:

Bitcoin (BTC): 0.0005 BTC
Ethereum (ETH): 0.01 ETH
EOS: 0.1 EOS
Ripple (XRP): 0.25 XRP
Tether (USDT): 5 USDT

This means that while depositing funds is accessible and cost-effective, users will need to adhere to these minimum thresholds when withdrawing their assets from the platform.

Should You Join Bybit in 2025?

As the cryptocurrency market evolves, finding the right platform for trading is essential. Bybit, established in 2018, has become one of the leading exchanges, especially for futures trading. But is it the right choice for you in 2024?

Bybit’s platform is designed with both beginners and advanced traders in mind, offering an intuitive interface and a variety of trading options, including spot trading, futures, and perpetual contracts. One of its key advantages is the lightning-fast execution speed, ensuring that users can capitalize on market opportunities without delay. Additionally, Bybit offers competitive fees, making it attractive for frequent traders who want to minimize costs.

Security is another strong point for Bybit, as it employs multi-layer protection systems and cold storage for funds, giving users confidence in the platform’s safety. Bybit also supports various passive income opportunities, such as staking and earning rewards through its flexible savings plans, providing more ways to grow your crypto assets.

However, Bybit is not available in all regions, and its focus on derivatives may not suit every trader. If you’re primarily looking for spot trading or need a platform that supports more altcoins, you may need to evaluate if Bybit meets your needs.

In 2024, Bybit remains a strong contender, particularly for those interested in futures trading and high-leverage options. Before joining, it’s essential to assess your trading preferences and compare Bybit’s features to other exchanges to ensure it’s the right fit for you.

Bybit Review – Frequently Asked Questions

Does Bybit Require KYC to Trade?

Bybit does not require users to complete a know-your-customer (KYC) verification process for basic trading activities. However, it’s important to note that without completing KYC, users may face certain limitations, particularly regarding withdrawal limits. Additionally, access to some of Bybit’s more advanced and potentially lucrative features will be restricted without KYC verification.

Is Bybit Safe for Trading?

Bybit prioritizes security and employs a multi-layered approach to safeguard user assets. This includes advanced technologies like Trusted Execution Environment (TEE) and Threshold Signature Scheme (TSS). The platform holds a PCI-DSS Service Provider Level 1 certification, which underscores its commitment to data security. Funds are primarily stored in cold wallets, ensuring that they remain secure from online threats. Furthermore, Bybit provides Proof of Reserves, offering transparency and assurance to its users regarding the security of their assets.

Is Bybit Legal?

Yes, Bybit operates legally across multiple jurisdictions worldwide. The platform holds licenses from regulatory bodies such as the Virtual Asset Regulatory Authority (VARA), the Cyprus Securities and Exchange Commission (CySEC), the Astana Financial Services Authority, and De Nederlandsche Bank. However, there are certain restrictions for traders based in the United States, specific regions of Canada, and China, so users in these areas may have limited access to the platform’s services.

Can I Fund My Account in Fiat on Bybit?

Absolutely! Bybit allows users to fund their accounts using fiat currency. Currently, the platform supports over 55 fiat currencies and provides a wide array of payment methods, including credit cards and bank transfers. This flexibility makes it convenient for users to deposit funds into their trading accounts.

Why Is Bybit Worth Paying Attention To?

Bybit stands out as an innovative trading platform, offering a diverse range of trading options including Spot, Futures, and Options. Additionally, Bybit has integrated unique features related to Web3 and artificial intelligence, further enhancing the trading experience. The platform also offers a distinctive Bybit Credit Card and various loan features, making it an appealing choice for traders looking for advanced tools and functionalities in their trading endeavors.

Wrapping Up

Bybit offers a comprehensive platform for both beginner and advanced traders, with its user-friendly interface, competitive fees, and advanced trading features. Whether you’re interested in spot trading, futures, or simply want to explore its passive income options, Bybit provides a solid, secure environment for all types of crypto enthusiasts. As with any exchange, it’s essential to weigh the pros and cons to ensure it meets your individual needs. For a more detailed analysis and a deeper dive into Bybit’s offerings, be sure to check out the full Bybit review at CoinReviews, where we break down everything you need to know before making your decision.

Bybit Review 2025: A Deep Dive into Features, Security, and Leverage Trading