Bybit

Bybit review: our verdict

Bybit has grown into one of the largest exchanges by derivatives volume, popular with active traders for its low fees, fast execution and copy-trading features. It also offers a full spot market and earn products. It's a solid choice for experienced traders in supported regions, but it isn't available in the US or UK, and its derivatives products carry high risk for beginners.

Bybit at a glance

Fees

Spot trading starts at 0.10% maker and 0.10% taker, with VIP tiers reducing costs further for high-volume traders. Derivatives fees are lower than spot. Funding rates apply to perpetual futures positions and can be a significant cost when holding leveraged positions for long periods. Check Bybit's fee page for current rates and read crypto fees explained.

Features

• Derivatives: perpetual futures, dated futures and options with a fast matching engine.
• Copy trading: automatically mirror the trades of other users. Past performance doesn't guarantee future results.
• Trading bots: grid, DCA and other automated strategies.
• Spot market: a wide selection of coins.
• Earn products: savings and staking-style products with variable yields.
• Launchpad: access to new token launches, which are highly speculative.

Security

In February 2025 Bybit suffered one of the largest exchange hacks on record, widely attributed to North Korean hackers. The exchange covered customer losses and continued operating, and has since strengthened its security processes. Bybit supports 2FA, withdrawal whitelisting and anti-phishing codes and publishes proof-of-reserves. The incident is an important reminder to keep long-term holdings in self-custody with a hardware wallet.

Understanding leverage risk

Derivatives let you trade with leverage, which magnifies both gains and losses. A small adverse price move can trigger liquidation and wipe out your margin. If you're new to crypto, stick to spot trading, learn how to read charts and never risk money you can't afford to lose.

How to get started

1. Check that Bybit is available in your country.
2. Sign up on the official website or app and complete identity verification.
3. Enable 2FA, an anti-phishing code and withdrawal whitelisting.
4. Deposit funds or crypto and start with spot trading.
5. Only explore derivatives once you fully understand margin and liquidation.

Bybit alternatives

• Binance: similar fees with a larger overall ecosystem.
• Kraken: available in the US and UK with a strong security record.
• Coinbase: simpler and more regulated for beginners.

Who should use Bybit?

Experienced, active traders in supported regions who want derivatives, copy trading and low fees. Beginners should start with spot trading only or choose a simpler exchange.

Frequently asked questions

Is Bybit safe?

Bybit is a large, established exchange that covered customer losses after its 2025 hack. As with any exchange, keep only trading balances there and use strong account security.

Is Bybit available in the US?

No. Bybit does not serve users in the US, UK and several other jurisdictions.

What is copy trading on Bybit?

Copy trading lets you automatically follow another trader's positions. It's convenient but risky, since you inherit their losses as well as their gains.

Does Bybit require KYC?

Yes. Bybit requires identity verification for most features, including deposits and withdrawals.

This review is for educational purposes only and is not financial advice. Fees, features and availability change; always confirm details on Bybit's official website.