Introduction
Bybit is one of the fastest-growing cryptocurrency exchanges, known for its derivatives trading, low fees, and high-leverage options. Founded in 2018, Bybit has quickly gained popularity among professional traders and institutions, thanks to its powerful trading engine, deep liquidity, and innovative features.
Unlike Coinbase or Bitpanda, which focus on beginners and regulatory compliance, Bybit is designed for advanced traders looking for futures, options, and margin trading with high leverage. It is often compared to Binance and OKX, as they all cater to professional traders with low fees and advanced tools.
With over 20 million users in 160+ countries, Bybit is one of the top five global crypto exchanges.
What This Review Covers
✔ Key Features – What makes Bybit unique?
✔ Security and Regulation – Is Bybit safe?
✔ Trading Options – What assets can you trade?
✔ Fees and Costs – Is Bybit affordable?
✔ User Experience – Is Bybit easy to use?
✔ Pros and Cons – The strengths and weaknesses of Bybit.
✔ Comparison with Binance, Kraken, and Coinbase – Which platform is better?
By the end of this review, you’ll know if Bybit is the right exchange for you.
1. What is Bybit? A Brief Overview
Bybit is a crypto trading platform that specializes in derivatives trading, including futures contracts, options, and leveraged trading. While it also offers spot trading and staking, its main strength lies in its advanced trading features.
Why is Bybit Popular?
✅ High-Leverage Trading – Up to 125x leverage on futures.
✅ Low Trading Fees – 0.01% maker / 0.06% taker for futures.
✅ Powerful Trading Engine – 100,000 transactions per second (TPS) with minimal downtime.
✅ Derivatives & Options Trading – Supports USDT, USDC, and coin-margined contracts.
✅ Copy Trading – Allows users to follow professional traders automatically.
Bybit is a top choice for professional and institutional traders, thanks to its fast execution speeds, low fees, and deep liquidity.
2. Bybit Security and Regulation: Is It Safe?
Bybit has strong security measures to protect user funds, but it is not a regulated exchange in major jurisdictions like the U.S. or Europe.
Security Features
✔ Cold Wallet Storage – Over 95% of funds are stored in multi-signature cold wallets.
✔ Two-Factor Authentication (2FA) – Users must enable Google Authenticator for extra security.
✔ Whitelisted Withdrawals – Limits withdrawals to approved wallet addresses.
✔ Encrypted Data Protection – Uses SSL encryption to secure transactions.
✔ Bug Bounty Program – Rewards users for finding security vulnerabilities.
Unlike Binance (which was hacked in 2019 for $40 million), Bybit has never suffered a major hack, making it one of the safest crypto exchanges.
Regulatory Compliance
Bybit is headquartered in Dubai and operates without major regulatory restrictions, meaning it is not available in the U.S..
✔ Licensed in Dubai – Operates under the Dubai Virtual Asset Regulatory Authority (VARA).
✔ Not Regulated in the U.S. – U.S. users cannot trade on Bybit.
✔ No Mandatory KYC for Small Withdrawals – Users can trade without full identity verification, but withdrawals over a certain limit require KYC.
Bybit vs. Binance Regulation:
| Feature | Bybit | Binance | Coinbase | Kraken |
|---|---|---|---|---|
| U.S. Regulated? | ❌ No | ❌ No | ✅ Yes | ✅ Yes |
| Licensed in Dubai? | ✅ Yes | ❌ No | ❌ No | ❌ No |
| KYC Required? | ✅ Yes (for large withdrawals) | ✅ Yes | ✅ Yes | ✅ Yes |
| Fiat Trading? | ✅ Yes | ✅ Yes | ✅ Yes | ✅ Yes |
Bybit is a great choice for international traders, but U.S. users must use Coinbase or Kraken instead.
3. Bybit Trading Options: What Can You Trade?
Bybit is a derivatives-focused exchange, but it also offers spot trading, staking, and DeFi products.
Cryptocurrencies Available on Bybit
Bybit supports 400+ cryptocurrencies, including:
✅ Bitcoin (BTC)
✅ Ethereum (ETH)
✅ Solana (SOL)
✅ Cardano (ADA)
✅ Polkadot (DOT)
✅ Dogecoin (DOGE) & Shiba Inu (SHIB)
While Binance offers 350+ cryptos, Bybit has an even wider selection, making it a top alternative for altcoin traders.
Futures and Derivatives Trading
✔ USDT Perpetual Contracts – Trade BTC, ETH, and 200+ altcoins with leverage.
✔ Inverse Perpetual Contracts – Coin-margined contracts for BTC, ETH, and DOT.
✔ Options Trading – BTC and ETH options for institutional traders.
✔ Up to 125x Leverage – Higher than Binance (100x) and OKX (100x).
Unlike Coinbase (which does not offer futures trading), Bybit is one of the best platforms for derivatives traders.
4. Bybit Fees: Is It Affordable?
Bybit has a tiered fee structure, rewarding high-volume traders with lower fees.
Spot Trading Fees
| 30-Day Trading Volume | Maker Fee | Taker Fee |
|---|---|---|
| $0 – $1M | 0.10% | 0.10% |
| Above $10M | 0.00% | 0.02% |
Futures Trading Fees
| 30-Day Trading Volume | Maker Fee | Taker Fee |
|---|---|---|
| $0 – $1M | 0.01% | 0.06% |
| Above $10M | 0.00% | 0.03% |
✔ Lower futures fees than Coinbase and Kraken.
✔ No deposit fees for crypto deposits.
✔ Low withdrawal fees for most cryptocurrencies.
How Does Bybit Compare to Other Platforms?
| Exchange | Spot Trading Fees | Futures Trading Fees |
|---|---|---|
| Bybit | 0.10% | 0.01% – 0.06% |
| Binance | 0.10% | 0.02% – 0.04% |
| Kraken | 0.16% – 0.26% | 0.02% – 0.05% |
| Coinbase | 1.49% | Not available |
Bybit is cheaper than Coinbase and Kraken and comparable to Binance in terms of fees.
5. Pros and Cons of Bybit
Pros:
✅ Low Trading Fees – 0.10% spot fees, 0.01% futures maker fees.
✅ High Liquidity & Fast Transactions – 100,000 TPS execution speed.
✅ Advanced Trading Features – Supports futures, margin, options, and copy trading.
✅ 400+ Cryptocurrencies – A vast selection of trading pairs.
✅ No Mandatory KYC for Small Withdrawals – Some users can trade anonymously.
Cons:
❌ Not Available in the U.S. – U.S. traders cannot use Bybit.
❌ Higher Withdrawal Fees for Some Cryptos – Certain coins have higher network fees.
❌ Complex for Beginners – Advanced tools may overwhelm new users.
Final Verdict: Is Bybit Worth Using?
Bybit is one of the best exchanges for derivatives and high-leverage trading, offering:
✔ Low trading fees.
✔ Fast execution speeds.
✔ A strong futures and options trading platform.
However, U.S. residents cannot use Bybit, making Coinbase or Kraken better alternatives for them.