Bybit Review 2025: Is ByBit Really a Trustworthy Exchange?

Bybit is a cryptocurrency derivatives exchange known for leveraged trading. It was founded in 2018 and quickly gained popularity for options trading and futures trading. Bybit offers an easy-to-use interface, advanced trading tools, and low fees. The platform supports over 1,200 cryptocurrencies, including Bitcoin and Ethereum. Bybit is a solid choice for traders seeking a secure trading environment.

Bybit exchange is easy to use and provides high liquidity. It offers leverage trading, perpetual contracts, and spot trading. These options suit various trading styles and risk levels. The Bybit support team replies quickly. The platform also hosts events with rewards and bonuses. Traders can manage risk effectively. They use advanced tools to track activities and offer risk management.

However, Bybit has limitations too. It doesn’t support trading with fiat currencies. Also, its services aren’t available everywhere, such as in the United States.

Our Bybit review gives you a close look at the cryptocurrency exchange. We will cover what Bybit is, along with its pros and cons. We’ll discuss its safety, legal concerns, and the trading features it offers users.

Bybit Exchange Review: What Is It?

• Best For: Derivatives Trading
• Supported Coins: 1200+ trading pairs
• Trading Fees: 0.1% maker/taker
• Maximum Leverage: 125x futures contracts
• Security: 2FA, Cold Storage of Assets, Multi-Sig wallets, Insurance Fund
• Fiat Currencies: USD, EUR, GBP, and 20+ more
• Payment Methods: Bank transfer, credit/debit card, crypto transfer, third-party fiat on and off-ramps

Bybit is a reliable cryptocurrency derivatives trading exchange where the user can trade in Bitcoin and 1200+ other digital currencies or altcoins. It is best for its user-friendly interface that can even be easy to navigate for beginners. The platform offers high-speed trading with a rapid matching engine, this ensures fast transactions.

The exchange also provides an futures trading platform with 100x leverage. Other trading features are margin trading, copy trading, trading bots, staking services, and options trading. It uses cold storage to secure the funds of the users and has two-factor authentication for added security. Customer support is also available 24/7.

Pros

• Fast trading and matching engine with zero price slippage
• Competitive trading fees
• Advanced trading tools and features
• Mobile trading App for Android and IOS
• High-security measures with PoR data

Cons

• No U.S. availability
• Less regulatory oversight

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Quick Summary

What are the Best Trading Features of Bybit?

Bybit offers many features for different trading styles. Here are some highlights:

• Unified Trading Account (UTA): Trade Spot, Futures, and Options with one account. Use unrealized profits from one trade as margin for another.
• Margin Trading: Bybit allows margin trading with up to 10x leverage on select crypto pairs. You can choose between cross-margin and isolated-margin modes.
• Multiple Order Types: Use Market Orders for immediate trades or Limit Orders to set target prices. Advanced types like iceberg, TP/SL, and scaled orders are also available.
• Advanced Charting: Access TradingView charting tools for price analysis. Use technical indicators and drawing tools to spot trends and make decisions.
• Multiple Fiat Deposit Options: Buy crypto using credit cards, bank transfers, P2P trading, and third-party processors like MoonPay, Banxa, and Simplex.
• Trading Bots: Bybit features auto trading bots in Spot and Futures markets. Options include Grid Bots for range trading and DCA bots for regular crypto purchases.
• Copy Trading: Copy professional traders’ moves on Bybit. This is ideal for beginners who want to follow experts.
• Staking: Stake on Bybit to earn interest on your crypto balances. Interest rates can reach up to 30% APY but vary.
• Launchpad: Get early access to new crypto projects on Bybit’s Launchpad. Invest in new coins before they gain wider attention.

ByBit Web3 Ecosystem

1. Bybit NFT Marketplace: You can browse, buy, sell, and trade NFTs on Bybit’s platform. This lets you explore collections of digital art, collectibles, GameFi items, and metaverse assets, all within the Bybit ecosystem.
2. Bybit Wallet: It’s your gateway to the decentralized web. Connect to various DeFi platforms, NFT marketplaces (like Bybit’s), and explore more of the Web3 space with just one click.

Does Bybit Charge Fees?

For regular users (VIP 0) on Bybit, the fee structure is as follows:

• Bybit charges a 0.1% maker/taker fee for spot trading.
• For futures trading, the maker fee is 0.02%, and the taker fee is 0.055%.
• In options trading, the maker and taker fees are both 0.02%.

Is There any Deposit and Withdrawal Fees?

Bybit does not charge fees for crypto deposits. You can transfer cryptocurrency from another wallet or exchange to your Bybit account without any extra cost.

Fiat deposits may have fees based on the payment method. For instance, using credit or debit cards or third-party services can lead to a fee of up to 3% per transaction.

For withdrawals, Bybit charges a fixed fee. This fee varies by cryptocurrency and network. It is deducted from the total amount withdrawn, ensuring faster transaction confirmations on the blockchain. Internal transfers between Bybit accounts are free.

Read the full Bybit fee structure here.

Is Bybit a Really Safe Exchange to Buy Crypto?

To fight hacking, Bybit uses a secure cold storage system. Most of their crypto reserve and all client funds are stored offline in safe, isolated places.

Only a small portion of Bybit’s coins is in “hot wallets” to meet traders’ withdrawal needs. If funds must move from cold storage, a multi-signature address scheme is used. This means multiple keys are needed to approve a transaction. Thus, no one person can control all the funds on the exchange.

The Bybit website uses SSL encryption to protect against snoops and phishing. Like other crypto exchanges, look for the lock icon to confirm you’re on a real site. If you don’t see the lock or the site doesn’t start with “https,” it could be a phishing site. Avoid it.

Besides 2FA, Bybit offers:

• Fund password
• Anti-Phishing code
• New address withdrawal lock
• Bybit Authenticity Check

Bybit has greatly improved its security measures recently, boosting trust in its platform. Our team found no red flags in the Bybit security review. An independent audit by Certified ranked Bybit as a top 10 secure crypto exchange with an AAA security rating.

To manage liquidation risk during futures contract settlements, Bybit has an “insurance fund.” This fund is used if a trader is liquidated below their “bankruptcy price,” which is when their initial margin is fully used up.

Does Bybit Have KYC and Withdrawal Limits?

Bybit has different withdrawal limits based on your verification level. Here’s a quick review of these limits:

• Users without KYC can withdraw up to 20,000 USDT daily and 100,000 USDT monthly.
• After completing Individual KYC Level 1, users can withdraw up to 1,000,000 USDT daily. Level 2 increases this limit to 2,000,000 USDT daily.
• VIP users have even higher limits. VIP 1 allows 6,000,000 USDT daily. VIP 5 lets you withdraw up to 10,000,000 USDT, while Supreme VIP reaches 12,000,000 USDT daily.

Advanced Order Types on Bybit

Take Profit and Stop Loss Orders: These orders manage exit strategies. Take Profit closes a position at a certain profit level. Stop Loss limits losses by closing a position at a specific loss level.

Iceberg Order: This type splits large orders into smaller, hidden parts. It minimizes market impact and slippage, making it easier to execute big trades without drawing attention.

Post-Only Order: It places a limit order in the order book without fulfilling it against existing orders. This avoids taker fees and helps you earn maker fees.

Time in Force Selections (GTC, IOC, FOK): These define how long an order stays active:

• Good ‘Til Canceled (GTC): Stays active until you cancel it.
• Immediate or Cancel (IOC): Executes immediately, canceling any unfilled part.
• Fill or Kill (FOK): Must be fully executed right away, or it’s canceled.

Trailing Stop Order: This automatically adjusts the stop price with market movements. It locks in profits while limiting losses, following the price by a set amount or percentage.

TWAP Order Strategy: It executes trades gradually over a specific time. This aims for an average price that reflects market conditions, reducing market impact.

One-Cancels-the-Other (OCO) Order: This pairs two conditional orders. If one is executed, the other is canceled automatically, helping you manage risk.

Reduce-Only Order: This ensures the order only reduces an existing position, avoiding any increase in size.

Close on Trigger: It automatically closes a position when a specific price level is hit. This secures profits or manages losses.

Scaled Order: This divides a large order into smaller ones at different prices, reducing market disruption.

Chase Limit Order: This limit order adjusts its price to follow the market.

Derivatives Trading on Bybit

Bybit Futures trading involves buying and selling contracts that represent the value of a cryptocurrency at a future date. Bybit provides two main types of futures contracts: inverse contracts and linear contracts.

• Inverse contracts have margins and get settled in the underlying cryptocurrency like Bitcoin (BTC) or Ethereum (ETH). That is, in case you have traded BTC/USD inverse contracts, your margin and profits/losses will all be in BTC.
• Linear contracts are margined and settled in stablecoins such as USDT or USDC. So if you’re trading the linear contract, be it BTC/USDT or BTC/USDC, then your margin will be denominated in USDT or USDC, so managing your holdings will not be too complex, given they have much lesser volatility.

Leverage is a key feature, allowing traders to control larger positions with a smaller amount of capital. Bybit offers maximum leverage of up to 125x for some futures contracts like BTC and ETH.

Margin Modes

Bybit has margin modes for different trading strategies and risk levels. The two main modes are cross margin and isolated margin.

• Cross-margin mode uses all available funds in your account to maintain positions. If one position loses money, it can draw from your total balance to avoid liquidation. This mode suits experienced traders who handle multiple positions and can take on higher risk.
• Isolated margin mode allows you to set aside a specific amount for one position. If that position goes against you and hits the liquidation point, only the allocated margin is lost. The rest of your account balance remains safe. This mode is better for traders focused on risk management for each position.

Bybit’s options trading adds more flexibility to your strategy. An options contract gives you the right to buy or sell an asset at a set price before a specific date, but you don’t have to. The platform has two main types of options: call options and put options. Call options let you buy an asset, while put options let you sell one.

Bybit Mobile App and Customer Support

The Bybit mobile app offers smooth trading. It has an easy-to-use interface for buying, selling, and trading cryptocurrencies on your phone. You can download the Bybit app for Android and iOS.

Need to review charts and make informed decisions? No problem. Bybit has advanced charting tools in the mobile app. You can assess market trends no matter where you are. Place trades and check your portfolio. The features work just like the desktop version.

In our Bybit review, we found that the mobile app uses the same secure cold storage and real-time risk controls as the desktop platform. This means you can trade with peace of mind. You can also access all deposits, transfers, and withdrawals in the app. Customize your experience with features like regional fiat currency display. Plus, you can join the Bybit affiliate and referral programs right within the app.

Bybit has a strong customer rating of 4.6/5 on the Play Store and 4.7/5 on the App Store. Traders like its easy-to-use interface, quick trading engine, and advanced tools for experienced users. But, customer support can be slow at times.

Bybit provides customer support in a few ways. If you have questions about using their platform, start with the Help Center. For more specific issues, submit a support ticket or try the live chat option.

If you encounter problems with a deposit or withdrawal through a third-party channel, contact that provider directly. You can find their contact details on Bybit’s website.

How Do You Buy Crypto on Bybit?

Step 1: Create a Bybit account and complete ID verification

Visit Bybit’s official website to create an account. Use your email and a strong password. Verify your email by clicking the link sent to you. Complete the Know Your Customer (KYC) process with the required identification documents. After logging in, enable Two-Factor Authentication (2FA). Go to “Account & Security” to enhance your security.

When signing up, use the Bybit referral code “99096” to receive a signup bonus of up to 30,000 USDT and a 30% discount on all future trades.

Step 2: Deposit Crypto into Your Account

Log in and go to the “Assets” section. Select “Deposit.” Pick the cryptocurrency you want, like Bitcoin or Ethereum. Copy the deposit address given. Then, transfer funds from your external wallet or another exchange. Confirm the transaction after it shows in your Bybit wallet.

Step 3: Familiarize Yourself with the Trading Interface

To access the trading page, click “Trade.” Then, choose your trading pair, such as BTC/USD. Familiarize yourself with the layout. It features the order book, price chart, recent trades, and order entry fields. This knowledge will help you make informed trading decisions.

Step 4: Place and Manage Trading Orders

Select the right order type: Limit, Market, or Conditional. For Limit orders, enter the price and amount. For Market orders, your trade will execute right away. Click “Buy” or “Sell” to place your order. To manage your open orders, go to the “Orders” tab. There, you can cancel or change them as needed.

Step 5: Withdraw Funds from Bybit

To withdraw, go to “Assets” and select “Withdraw.” Choose the cryptocurrency. Then, enter the destination wallet address and the amount. Confirm your request with 2FA. Finally, submit your request. Keep an eye on the transaction until it shows up in your external wallet.

Best Bybit Alternatives

Bitget and KuCoin are the best Bybit alternatives to consider. Here is a quick Bybit vs Bitget and Bybit vs KuCoin comparison:

Bitget (Best For Crypto Copy Trading)

• Top Features: Spot, Futures with 125x leverage, Trading bots, and Copy trading
• Supported Coins: 850+ including low-cap altcoins
• Trading Fees: 0.1% maker/taker
• Deposit methods: Bank transfer, debit/credit card, P2P marketplace

Visit Bitget

Our Bitget Review

KuCoin (Best For New Altcoin Trading)

• Top Features: Spot, Futures, Margin, Trading bots, and P2P Trading
• Supported Coins: 700+ including new altcoins
• Trading Fees: 0.1% maker/taker
• Deposit methods: Visa, Mastercard, SEPA, UPI, Faster Payment System (FPS), and 70+ more

Visit KuCoin

Our KuCoin Review

Final Verdict

Bybit is a reliable platform for trading digital currencies like Bitcoin and Ethereum. Its user-friendly design helps both beginners and experienced traders. One major benefit of Bybit is its leverage trading feature. This lets users borrow money to boost their potential profits. For example, a trader can buy $1,000 of Bitcoin with just $100 in their account.

Bybit has its flaws, like any platform. One big concern is the high risk of leveraged trading. This can lead to severe financial losses. For example, if someone borrows 10 times their initial amount to buy cryptocurrency, a 10% market drop can erase their whole investment. Another issue is that Bybit is not available in some countries, including the United States. This is due to strict regulations.

Bybit Review: FAQs